MOP 6.00 Year III
Number 675 Wednesday November 26, 2014
Publisher: Paulo A. Azevedo
Closing editor: Luís Gonçalves
Macau Renminbi business needs cooperation PAGE 7 | Gaming shuttles for imported labour PAGE 6
Not all eggs in China basket H
e’s not just another politician. Or a pundit. Robert F. Engle, 2003 Nobel Prize laureate in Economics, specialises in financial stability. Macau should stop pouring so much of its reserves into Chinese assets, he says. Diversification of investments abroad is the name of the game. It’s a hedge against economic woes in China. Engel warned yesterday at a lecture in UM that systemic risk is growing exponentially on the Mainland PAGE
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Porous borders
HSI - Movers November 25
A new border crossing is planned for Ilha Verde. A public tender will be launched here, inviting bids for various elements from local companies. Meanwhile state-owned Guangdong Nam Yue Group Co Ltd has already been awarded the construction project. A public works official was grilled by the Legislative Assembly yesterday
Name
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Short-term cut The People’s Bank of China has been active. Reducing the yield on 14-day bond repurchase agreements (repos) to 3.2 percent. Down from 3.4 percent, and following similar moves in October and July as growth wobbled
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www.macaubusinessdaily.com
With love and care It can be thankless, but rewarding. A survey on manpower needs and wages for Q3 2014 reveals childcare services had a turnover rate of 9 percent. The highest of several occupations studied. Women overwhelmingly make up this specialist workforce
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%Day
Kunlun Energy Co Ltd
3.75
China Resources Powe
2.32
China Unicom Hong Ko
1.72
MTR Corp Ltd
1.29
China Merchants Hold
1.16
China Resources Land
-1.46
Hong Kong Exchanges
-1.48
Belle International
-2.12
China Petroleum & Ch
-2.31
PetroChina Co Ltd
-2.45
Source: Bloomberg
I SSN 2226-8294
Booming MICE It could be a game-changer. MICE sector revenues almost doubled in the first nine months of the year. And grew 82 percent in Q3. Expositions, fairs and congresses are generating more money per visitor than ever. In Q3, attendees jumped 16 percent, while shows grew 5 percent
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