Macau Business Daily, Sept 15, 2014

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MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 625 Monday September 15, 2014

APEC inks Macau Declaration

T

Year III

he APEC meeting culminated in the Macau Declaration. Ministerial-level APEC members hope to double visitation to the region by 2025. That would mean enticing up to 800 million tourists to Asia Pacific. APEC sees technological and management innovation, diversification, simplified visa procedures and low-carbon emission tourism as key to achieving the eight principles in the Macau Declaration. Tourism is growing faster in Asia Pacific than anywhere in the world. Some 101 million mainland Chinese tourists alone are expected to travel outbound this year

www.macaubusinessdaily.com

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5

Perfect storm brewing

DB report: Junket market continues to be oversaturated

MGM casino workers plan to meet the Labour Affairs Bureau today. Top of the agenda is a demand for a 10 percent salary rise. Meanwhile, SJM casino workers are threatening to strike during Golden Week. They are demanding the company hold a tri-party meeting with the government to discuss a raft of issues

Taiwan executive detained as food safety scandal deepens

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HSI - Movers September 12

Slower gear

August figures are mixed. China’s industrial output has returned to figures seen during the global financial crisis. Factory production rose just 6.9 percent, while experts forecast an 8.8 percent increase

Name

Silver screen success Going to the movies was always popular. Now it’s Macau’s most patronised cultural activity. Some 284,000 people attended a cultural event in the 2Q of the year. Of these, 173,000 opted for the cinema. Visiting a museum or a World Heritage site was next popular. The number of people going to libraries here is almost the same as those visiting museums.

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%Day

Lenovo Group Ltd

3.03

China Resources Pow

2.97

China Unicom Hong K

1.61

China Petroleum & Ch

1.02

Tencent Holdings Ltd

0.57

China Merchants Hol

-1.17

PetroChina Co Ltd

-1.31

CNOOC Ltd

-2.32

Belle International

-2.69

CITIC Ltd

-4.06

Source: Bloomberg

Interview I SSN 2226-8294

Where the wine is Habits are changing. Mainland Chinese visitors are more appreciative of wine than before. But it’s a cutthroat business, often disrupted by cost cutting. Michael Keen, director of sales and marketing for Fine Beverages Ltd, tells Business Daily that despite the peculiarities of the wine market here there is real potential. Consumer education is important. And so is the newly evolving customer, he says

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