MOP 6.00 Closing editor: Luis Gonçålves Publisher: Paulo A. Azevedo
Macau’s textile implosion
M
acau’s textile exports have halved in two years. The sector doesn’t see any light at the end of the tunnel. A recent government survey discovered all textile companies are expecting a “strong drop” in sales in the next six months. Since 2011, sales to foreign markets have tanked. From MOP260 billion to MOP130 billion last year. In 2014, exports may struggle to reach MOP100 million
High stakes, low profile
PAGE 3 Number 628 Thursday September 18, 2014
China’s high-spending gamblers are spooked. Betting away from Macau seems a prudent move. The government onslaught on corruption and extravagance is biting. Boosting the fortunes of casinos from the Philippines to Las Vegas
Super-stimulus
Year III
After series of weak economic data People’s Bank of China has announced an injection of US$81.35 billion for the top 5 national banks. By these means the liquidity injection does have the effect of easing overall credit conditions
www.macaubusinessdaily.com
Page 8
Louis XIII buys 30 Rolls Royces for Cotai PAGE 3
Macau tours unaffected by Philippines warning PAGE 2
Tourism Activities Centre to undergo renovation PAGE 3
HSI - Movers September 17
IBIS takes first step Mixed messages High hotel prices are a hot issue. Not surprisingly, economy hotel chain Ibis has registered its trademark in Macau. The French hotel group may be doing more than protecting its brand name. So far, no international or mainland Chinese economy hotel chain has planted its flag here. And there’s been a lot of local debate about offering real options
Name
Not so long ago it would have been deemed impossible. But the largest players in the luxury sector are struggling in Asia. Demand from Macau and Hong Kong is weak. Cartier has admitted lower sales here. Chow Sang Sang reports a drop of 32 percent in revenues. Mass market Bossini, on the other hand, grew sixfold in the last six months
%Day
PetroChina Co Ltd
3.88
Lenovo Group Ltd
3.62
China Resources Pow
2.79
Tencent Holdings Ltd
2.48
Bank of Communicati
2.32
China Mengniu Dairy
-0.55
Hang Lung Properties
-0.82
Tingyi Cayman Island
-1.91
Galaxy Entertainmen
-2.57
Sands China Ltd
-3.85
Source: Bloomberg
I SSN 2226-8294
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