MOP 6.00 Closing editor: Sara Farr
Sovereign wealth fund an option T
Publisher: Paulo A. Azevedo
he International Monetary Fund thinks it’s a good idea that Macau establish a sovereign wealth fund. Anselmo Teng Lin Seng of the Monetary Authority here is well aware of the option. The reserves are continuing to grow; and there are other options. Prudent investment remains the mantra
Year III
Number 592 Thursday July 29, 2014
Page 3
www.macaubusinessdaily.com
Percolating nicely
Journey of a thousand miles Another milestone in China. The arrival of new private banks. The Chinese Government is determined to push through reforms as part of its massive restructuring campaign. Both social and financial
Cafés are mushrooming around the city. But are they a fad like the Taiwanese teas? Not if your heart’s in it, say the experts. Business Daily spoke to owners and managers who think the business is fuelled by young people. They would rather splurge on themselves, they say, than pursue the impossible dream of owning property Pages
4&5
Page
Not quite so important
New horizons Macau’s unemployment rate remains stable. It was 1.7 percent in the 2Q. But workers are baling out of the gaming industry. Hotels and construction are mopping them up Page
MIM launches bank and finance management major
Auto Italia issuing 1.7 bln offer shares Page 2
Page 2
3
HSI - Movers July 28
Name
The VIP gaming segment is shrinking. Accounting for just 60 percent of Macau’s gross gaming revenue in the 2Q. The lowest proportion since the 4Q in 2005. Cyclical or structural change? The smart money is on structural Page
7
Chinese investment in Australian tourism set to surge
Perfect storm brewing for MGM Resorts Page 6
8
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%Day
Bank of Communica
6.22
Hong Kong Exchang
3.43
Tencent Holdings Lt
3.20
Galaxy Entertainme
2.51
China Unicom Hong
2.31
China Merchants Ho
-0.77
MTR Corp Ltd
-0.83
Hang Lung Propertie
-1.06
China Petroleum & C
-1.18
China Mengniu Dair
-1.46
Source: Bloomberg
I SSN 2226-8294
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