MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 635 Monday September 29, 2014 Year III
Unemployment rate one of world’s lowest A
nother record stands. Macau’s unemployment rate remains at a stable 1.7 percent. For the last 10 months, the lowest on record for the MSAR. And one of the lowest in the world. Of the 6,800 registered unemployed, about 1,500 are first-time jobseekers. Largely fresh grads, they will likely be devoured by casinos, hotels or restaurants. These account for 40 percent of all jobs in Macau. Add construction and that share jumps to 55 percent
www.macaubusinessdaily.com
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Wynn accuses short-seller Chanos of slander in lawsuit
Unions up the ante Casino dealer protests continue unabated. Hundreds of MGM employees circled the building yesterday. They demand the company restructure its whole wage system, branding the current one unfair. Union leaders say that complaints taken to the Labour Affairs Bureau remain unresolved. At the heart of the complaints is that staff salary adjustments are contingent upon five conditions. And the smoking ban issue
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Sands China sees full occupancy for Golden Week Page 8
HSI - Movers September 26
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Industry downturn It’s the Chinese industrial sector again. It’s facing the lowest moments of recent years. Last weekend, the National Bureau of Statistics announced that profits had declined for the first time in two years
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Name
Hereby hangs a tale The climb-back has started. MGM China and parent company MGM Resorts have been upgraded by Fitch. The new MGM China rating – BB – is sweet. Just one notch below investment level, which facilitates easier, cheaper borrowing. Fitch also paints a rosy outlook for both operators despite big debts maturing
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%Day
Galaxy Entertainmen
3.56
Sands China Ltd
2.78
MTR Corp Ltd
1.43
CLP Holdings Ltd
1.11
Bank of Communicati
1.07
China Petroleum & Ch
-1.55
China Shenhua Energ
-1.58
China Mengniu Dairy
-1.77
Want Want China Ho
-1.96
Belle International
-3.20
Source: Bloomberg
I SSN 2226-8294
Interview
Expansion dependant upon land The Institute for Tourism Studies wants to expand. New degrees and programmes for current and future students are in the hopper. But the Institute craves land, IFT president Fanny Vong told Business Daily in this week’s exclusive interview. Plus more faculty talent, which she sees herself in a global competition for. Meanwhile, IFT’s international base continues to grow
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