MOP 6.00 Closing editor: Alex Lee www.macaubusinessdaily.com
Year III
Number 528 Tuesday April 29, 2014
Publisher: Paulo A. Azevedo
Insurance Record
At a princely 10 billion Hong Kong dollars, the insurance taken out for the exhibition ‘Masterpieces of Paintings from French National Museums’ starting in June is the highest the Macau Art Museum has ever arranged.
The 12 masterpieces en route to Macau from French museums are all originals by renowned artists like Pablo Picasso, Auguste Renoir and Jean-Honore Fragonard, and valued at over 300 million euros. Page
Hands across the water
From Spain with Love Just five days after announcing plans to raise his Russian casino stake, Lawrence Ho’s main holding company Melco International Development entered into a legally binding memorandum of understanding with Spanish company Veremonte to build an integrated resort in Barcelona with 10,000 rooms.
Macau enterprises have more chances to secure personnel for job vacancies in Taiwan due to lower salary expectations on the island, recruitment executives here say. Speaking the same language as the city’s largest tourist source – mainland China – and the solid service industry background also make Taiwanese job candidates appealing to local bosses, they say
Page 4
Safe harbour
3
Saipan eyes Macau casino experts Page 2
Hotel prices jump 13.2 percent Page 6
Huishan borrows US$ 50 million Page 5
Brought to you by
Page 2
More than 60 worldwide specialists - from architects to urban planners to anthropologists – have been reflecting on Macau’s Inner Harbour future. The area should focus on locals not tourists and add leisure activities in the area like bicycle lanes, shops and restaurants, they say, increasing the links between the city and the river. The final report will be published on May 14 Page 7
Bonds jumbo-size spree Chinese Ministry of Finance announced US$4.48 billion in offshore yuan bonds this year in Hong Kong. This year’s massive pack is aimed at promoting the use of Chinese currency in Europe as well as Asia Page 10
HSI - Movers
Catch of the day
April 28
Name
Macau-based company Wing Yip Group has purchased its way into the Taiwanese snack and souvenir business with an investment of HK$25 million (US$3.2 million) to lease a space in Fisherman’s Wharf for catering and souvenir sales targeting mainland Chinese tourists Page 4
%Day
China Unicom Hong K
3.13
Swire Pacific Ltd
1.97
New World Develop
1.76
PetroChina Co Ltd
1.70
CLP Holdings Ltd
1.66
Belle International
-2.99
Hang Lung Propertie
-3.04
Sands China Ltd
-3.25
Galaxy Entertainme
-3.26
China Mengniu Dairy
-5.10
Source: Bloomberg
I SSN 2226-8294
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