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MOP 6.00 Year III
Number 753 Friday March 20, 2015
Publisher: Paulo A. Azevedo
Closing editor: Luís Gonçalves
Putting on the brakes
Macau to boost Inditex onli ne sales
T
hree fatalities this month alone. Most recently yesterday, on the Hollywood Roosvelt Hotel construction site in Taipa. An abnormal number of deaths and injuries have occurred in recent months. From casino resorts to transport infrastructure, delays mean money and the pressure on companies and workers is at fever pitch. The Federation of Trade Unions points a finger at antiquated safety laws. Now 20 years on the statute books. Update the regulations, increase inspections, and impose harsher penalties, it demands PAGE
5
Betting Crude control The Shanghai the house International Energy Exchange. It will on the be the first entity in China to allow foreign to trade in middle class investors oil futures. The gov’t Galaxy Entertainment closed 2014 with a 3 pct increase in profits. But the company sees warning signs. In Q4 2014 revenues dropped 15 pct. Anxiety is growing about what 2H 2015 will bring. “Challenging times,” says Lui Che Woo. Galaxy has hired a quarter of its workforce for the May 27 Phase II opening. And betting the house on the Chinese middle class
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Capacity report completed
The wage subsidy scheme. A provisional measure to compensate the city’s low-income groups. Now being extended for the eighth year. The gov’t is budgeting MOP37 million (US$4.6 million) for the scheme. Which may undergo adjustment next year given the implementation of the city’s first-ever minimum wage law. Expected at the beginning of the year, the Executive Council said yesterday
Quick work. Chief Executive Fernando Chui Sai On has announced the completion of the tourism capacity report. Conducted by Secretary for Security Wong Sio Chak and Secretary for Social Affairs and Culture Alexis Tam Chon Weng. The report will be submitted to the central government. With the Individual Visit Scheme (IVS) for Mainland tourists taking centre stage. The report also addresses crowd control and border crossings
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2
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8
Brought to you by
HSI - Movers March 19
Name
Lucky 8?
PAGE
initiated the move to influence the oil pricing system
%Day
Tencent Holdings Ltd
6.70
Link REIT/The
5.15
Wharf Holdings Ltd/T
4.43
Galaxy Entertainment
3.35
Sands China Ltd
3.31
Lenovo Group Ltd
0.00
New World Developm
-0.34
China Mengniu Dairy
-0.41
Hang Lung Properties
-0.93
China Merchants Hold
-2.02
Source: Bloomberg
www.macaubusinessdaily.com
I SSN 2226-8294
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Wynn Macau announces 5 pct wage hike PAGE 4
Polytec Asset net profit rises nine-fold PAGE 2
Bitcoin blues bite Chinese investors PAGE 6
2015-3-20
2015-3-21
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20˚ 27˚
19˚ 24˚
18˚ 22˚