MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 578 Wednesday July 9, 2014
Quotas needed
T
Year III
he queues are getting longer. The subsidised homes system needs shaking up, legislators tell Business Daily. They suggest a system of quotas that ensures that every applicant group gets a fair shake. One proposal suggests 70 percent of units be allocated to ‘core family’ applicants, 20 percent to ‘non-core’ families and the remainder to individuals Page
www.macaubusinessdaily.com
Pessimism spreads in Macau Confidence is declining in Macau, according to a new survey. Purchasing a home and consumer prices top the worry list. Local confidence in the economy suffered one of the biggest drops in the second quarter of this year, an index compiled by Macau University of Science and Technology reveals PAGE 5
July gaming revenues to plunge Analysts aren’t holding out much hope. Estimated July revenue growth will range between flat and negative single digits. The VIP market could shrink 20 percent, says Wells Fargo PAGE 3
Mutual benefits
2
HSI - Movers July 8
Name
No power to the people
Macau is facing threats to its runaway growth. Pansy Ho says that China’s slowing economy and increased foreign competition are signs to watch. The bottom line is that gaming companies have to diversify from their traditional roots. Because the modern traveller is increasingly switched on
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3.63
Lenovo Group Ltd
2.87
TChina Unicom H K
1.99
China Mengniu Dairy
1.99
China Petroleum & Ch
1.09
Kunlun Energy Co Ltd
-0.66
Belle International
-0.68
Li & Fung Ltd
-1.52
Sands China Ltd
-1.59
Galaxy Entertainm
-2.74
I SSN 2226-8294
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China and the U.S. will try to put their differences behind them. They hope to reach consensus on talks starting in Beijing today. The economy, security, and other pressing subjects are up for discussion
China Resources P
Source: Bloomberg
The administration resolutely opposes an upcoming civil referendum. Three local associations are responding to the Chief Executive Election 2014 process. And want the public to have a say in choosing Macau’s next leader. Government spokesman Alexis Tam Chong Weng says such a referendum is ‘illegal’ and has no legal standing
New marketing model a must
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