Macau Business Daily, Jan 9, 2015

Page 1

MOP 6.00 Closing editor: Luís Gonçalves

T

he property bubble knows no boundaries. Residences, offices and shops have all bowed to skyrocketing price tags. Now parking space is testing price limits with transactions reaching a dizzying MOP2 million-plus. Prices soared 47 pct last year, says local operator CarparKing. With a 20 pct increase on the horizon. Or 70 pct in two years. Transactions dropped 60 pct in 2014 due to gov’t anti-speculation measures. But cars outnumber parking spaces in Macau PAGE

3

Year III

Number 704 Friday January 9, 2015

Publisher: Paulo A. Azevedo

Park ‘n ride... to the bank

Taking too much interest

Sportswear to outpace casinos as Chinese customers earn more PAGE 7

The scams keep coming. Judiciary Police and the Monetary Authority have cracked down on an unauthorised local banking operation. At least 15 individuals sunk their savings into a 12 pct interest rate scheme. The crime carries a possible two-year prison term. Two mainlanders have been detained

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5

Sales of non-local properties not supervised by local law PAGE 5

Social Security Fund contribution to be raised to MOP90 PAGE 2

HSI - Movers

Blaze breaks out on Strip

January 8

Name

Another work site accident on the Strip. A blaze broke out yesterday on the roof of Galaxy Macau Phase II in Cotai. Galaxy Entertainment Group said it will not disrupt construction progress. Or the mid-2015 opening. The Labour Affairs Bureau told Business Daily it would continue to look into the incident. Construction continues

www.macaubusinessdaily.com

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2

Takes two to tango Xi Jinping continues his whirlwind courtship of Latin America. Saying he will invest a quarter of a trillion in its countries. China is becoming progressively more important in the economy of the region

Losing steam

ITC is already owner of 17 pct of Louis XIII | PAGE 6

Lenovo Group Ltd

4.03

Tingyi Cayman Island

2.51

Hengan International

2.46

China Resources Powe

2.46

PetroChina Co Ltd

2.45

Link REIT/The

-0.82

China Shenhua Energy

-1.06

Galaxy Entertainment

-1.56

China Overseas Land

-2.62

China Resources Land

-2.67

Source: Bloomberg

Perception is all. Consumers are slightly losing confidence in the local economy, according to the Consumer Confidence Index. The Macau University of Science and Technology (MUST) says there is good news in the other sub-indices, though. Residents give the thumbs up to employment conditions, living standards, housing purchase and stock investment. Plus the local economy in the coming months

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I SSN 2226-8294

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