Economy

Processing pays

Payment processing solutions company Hi Sun Technology (China) Limited saw a nearly 3.5 times increase in profits for the first half of the year, as announced on the Hong Kong Stock Exchange.

BOC Macau and UnionPay Int’l ink memorandum

A memorandum regarding strategic co-operation was signed on Tuesday in the Bank of China Building by three parties - the Bank of China Macau Branch, the Bank Card Centre of Bank of China (BOC), and Un

Student welfare fund up 8.33 pct y-o-y

The Student Welfare Fund disbursed MOP4.62 million (US$ 578,313) for 2,393 students in the second quarter of the year, according to a dispatch published in the government’s Official Gazette signed by

Novo Banco to sell Macau unit

Hong Kong firm Well Link Group Holdings Limited has made a purchase agreement to buy the Macau branch of Portuguese bank Novo Banco S.A.

Portuguese banking group Novo Banco S.A (Novo Banco) has agreed on the sale of its Macau unit, Novo Banco Asia S.A.

Credit card turnover up 4.8 pct in Q2

The city’s credit card turnover totaled MOP4.5 billion (US$560 million) for the second quarter of the year, representing a year-on-year increase of 4.8 per cent, according to the latest statistics rel

Yuan clearing amounts to 523.7 bln yuan H1

The total renminbi clearing amount in the territory in the first half of this year amounted to 523.7 billion yuan (MOP630 billion / US$78.87 billion) according to the Bank of China Macau Branch (BOC M

Deposits at local banks up 2.7 pct in June

AMCM data also reveals local banks had approved more loans in June compared to the month before.

Total deposits with the city’s banking sector amounted to MOP913.3 billion (US$114.2 billion) as at the end of June, up 2.7 per cent compared to MOP913.3 billion in May, the latest official data relea

More repair money, please

The Urban Renewal Committee has agreed to propose an increase in the building repair fund to the Legislative Assembly.

The Urban Renewal Committee has agreed to propose an increase in the building repair fund to the Legislative Assembly (AL) in order to fulfil the objectives for old house renewal.

Higher returns out there

A research report by the local monetary authority suggests the city’s banking sector may enjoy higher returns through business diversified outside the territory.

Local banks are benefiting from their expanded exposures outside the Special Administrative Region despite the number of jurisdictions being limited, a research report by the Monetary Authority of Mac

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