MOP 6.00 Closing editor: Sara Farr
T
hey’ve had a very good year. Banks here have posted an operating profit of MOP9.5 billion for the first three quarters. That’s an almost 37 per cent y-o-y rise. Prolonged declining gaming revenues may have dragged the economy down but bank profits remain perky. Credit and deposits are growing at a brisk 30 per cent. In the last two years, the banking sector has outpaced the gaming industry and economy as a whole Page 3
Year III
Number 683 Monday December 8, 2014
Publisher: Paulo A. Azevedo
Banks on a roll
Two-step tango
MIA spreads its wings
It had been said before. And was said again. A prudent monetary authority and pro-active fiscal policy go hand in hand. Two things the Communist Party’s elite decision-making body will pursue in 2015. The November figures are expected to show that export growth, investment and factory output have lost further momentum
Page
It’s certainly taking off. Macau International Airport handled just over 5 million visitors last year. The airport authority is now planning to expand capacity. To handle 7.5 million passengers per annum. A new business jet hangar, improved apron, and land reclamation are slated for next year. Plus extra office space and facilities. MIA was opened 19 years ago; it is likely to post record passenger through-flow this year
Page 4
Chui: Gov’t prepared for gaming dip Page 5
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9
Interview
Urban plan lacking www.macaubusinessdaily.com
Macau film industry awakening
Macau appears to have it all. But a long-term urban plan is missing. So says André Lui Chak Keong, local architect. He tells Business Daily that the current form of urban planning tends to address urgent needs, not future requirements. And that responsible urban planning starts with local identity rather than tourist-friendly photo ops. He worries about the territory’s rush into PRD hegemony
%Day
China Construction B
3.01
Industrial & Commerc
2.62
China Merchants Hold
2.62
Sino Land Co Ltd
2.25
Sun Hung Kai Propert
2.04
Li & Fung Ltd
-1.54
CNOOC Ltd
-1.82
Kunlun Energy Co Ltd
-2.11
China Unicom Hong Ko
-3.13
Cathay Pacific Airwa
-3.28
Source: Bloomberg
I SSN 2226-8294
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Pages 6 & 7
Prada’s Q3 profits down amid luxury goods gloom Page 5
2014-12-8
2014-12-9
2014-12-10
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