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MOP 6.00 Year III
Number 651 Thursday October 23, 2014
Publisher: Paulo A. Azevedo
Closing editor: Sara Farr
GEG decides on deluxe after all. Galaxy Entertainment Group is now planning to expand the capacity of its 5-star hotel. On two parcels of land on Cotai originally earmarked for a 4-star hotel-apartment. Parcel I/II is the area where Phase 2 is being built, and where Phase 4 will be constructed. According to the latest interim report, Phase 2 of Galaxy Macau will open mid-2015
Soaring rents
Anti-foreign official bribery bill could soon be passed
They made it but they paid it. Most receipts generated by restaurants and eateries last year went towards rent. Receipts increased 23 percent over those of 2012 but rents alone increased 38 percent. Rentals for drinking establishments went up a swingeing 87 percent
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Open skies pact with Taiwan in effect by year-end Page 4
HK stocks defy protests to post world’s best gain
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Slowly does it It’s been a bumpy ride. Chinese authorities have recently employed a range of economic weapons other than the omnipresent rate cut. Despite trimming pressures for quick growth results, China is opting for safe and sound consolidation
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HSI - Movers October 22
Name
%Day
Credit tightening
Tencent Holdings Ltd
3.38
Henderson Land Devel
3.08
Cathay Pacific Airwa
3.05
PetroChina Co Ltd
2.99
More non-performing loans are coming to light. From Mainland Chinese banks, which are now avoiding risky borrowers. More selectivity feeds back to less credit for gamblers and junkets in Macau. SNL Financial says the five biggest lenders in China saw NPLs increase in the first six months of 2014
MTR Corp Ltd
2.48
Kunlun Energy Co Ltd
0.00
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China Unicom Hong Ko 0.00 China Mobile Ltd
-0.22
Belle International
-0.23
Tingyi Cayman Island
-1.65
www.macaubusinessdaily.com
Source: Bloomberg
Service sector growing Receipts are up for the service sector. Plus expenditure and number of persons engaged. Real estate management led the way. While advertising services registered the biggest growth in number of establishments. Conferences & exhibitions, security and cleaning services all shone
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