Economy

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

Signs Of Stabilisation

Signs of economic recovery as the gaming industry stabilises. So say the Monetary Authority of Macau (AMCM).

The city’s economy is showing signs of an approaching recovery as the gaming industry begins to stabilise, says the Monetary Authority of Macau (AMCM) in its latest quarterly research report reviewing

Buying Portuguese

In the aftermath of Fosun’s proposal to acquire almost 17 per cent of Portuguese banking group Banco Comercial Português SA, the bank’s local branch management concede that branch revenues for the sec

While refusing to comment upon the recent share purchase deal proposed by Chinese investment group Fosun Industrial Holdings Ltd.

Wages of construction workers up by 1.2 pct

During the second quarter, the average daily wages of local construction workers decreased, while those of non-resident workers increased.

The average daily wages of the city’s construction workers increased by 1.2 per cent to MOP788 (US$98.5) for the second quarter of the year, attributable to an increase in wages of non-resident worker

Standard Chartered elects new Chairman

International banking group Standard Chartered’s current chairman Sir John Peace will be stepping down as Director and Chairman on December 1 of this year, to be replaced in the chairman role by José

OCBC sees y-o-y profit decrease in Q2

Banking and insurance giant OCBC saw a three per cent quarter-on-quarter rise in profits for the second quarter of 2016 – amounting to S$885 million (MOP5.23 billion/US$655.3 million), according to a

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