Macau Business Daily, May 30, 2014

Page 1

MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 550 Friday May 30, 2014 Year III www.macaubusinessdaily.com

Calm after the storm T

he government has announced it will withdraw the proposed bill on the generous welfare package for outgoing top officials. The decision follows unprecedented scenes. Up to 20,000 demonstrators took to the streets in one day, while a sit-in followed on another. But the bill will not be scrapped in its entirety. It will merely be postponed, assessed, revised, resubmitted and put up for public consultation before Act II Pages

2&3

Pack to the future

Diversify thyself The international heavy-hitters are adamant. Leading institutions and rating agencies have made at least four calls for Macau to diversify its economy beyond gaming. But where to from here?

More people visited Macau on package tours last month than in April 2012. As many as 957,000 flocked to the territory in April, 23 percent more than last year, with mainlanders accounting for the majority

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Yen for a decision The rise of a Japanese gaming industry has suffered a setback. The much-anticipated bill to legalise casinos in the country failed to get on parliament’s agenda this week. Making it almost impossible to approve the new law this year: Macau’s big operators are drumming their fingers Page 8

HK welcomes Yuan decline

Driving policy There’s a great demand for imported commercial drivers here. In response, the government has commissioned a first study to assess the city’s needs. Initial results are expected in August, and are expected to shape future policy Page

6

The loans market is getting stronger in Hong Kong as the RMB continues on its down slope trend. The mainland experiments with new offshore banking measures Page 10

HSI - Movers May 29

Name

%Day

Cheung Kong Holdin

2.16

Hang Lung Propertie

1.88

Hutchison Whampoa

1.66

Belle International

1.15

China Life Insurance

0.95

COSCO Pacific Ltd

-2.44

Cathay Pacific Airwa

-2.45

China Merchants Ho

-2.73

Galaxy Entertainme

-2.95

Tencent Holdings Ltd

-3.09

Source: Bloomberg I SSN 2226-8294

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