MOP 6.00
Song Pek Kei demands answers from CCAC
Closing editor: Luís Gonçalves
David Chow reaches agreement with Cape Verde Government
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Swamp country turns into one of hottest gambling towns in US
Local firms invest US$660 million in China during H1 Page 2
Year IV
Number 841 Thursday July 23, 2015
Publisher: Paulo A. Azevedo
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Running Out of Puff All the makings of a soap opera. Originally, the gov’t adopted an inflexible attitude. With a universal smoking ban in casinos slated to take effect Jan. 1. The administration then opened the door to discussing smoking lounges. Now, the committee charged with examining the changes has dropped a bombshell. A universal smoking ban may take one more year to be approved, according to Legislative Assembly member Chan Chak Mo. Apparently, a public consultation is vital. And sectors affected by the law have to be consulted. And there’s lots of other business to discuss so time is short Page
4
Fast food, slow construction
Brought to you by
HSI - Movers
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High-end retail stores continue to take a hit. Both here and in Hong Kong. Wealthy Mainland customers are sidestepping both cities for Japan and Europe. Taking advantage of the cheap yen and euro. Hermes sales in Japan, for example, increased more than 20 pct,. Some three times more than here. Lesser segments also continue to sag
Pages 2&6
July 22
Parachuted in
Name
A new director of the Transport Bureau (DSAT) has been announced. Lam Hin San, formerly of the Aviation Authority, has been appointed. He’s identified the city’s traffic problems as a priority. Suggesting an update of current traffic laws and regulations may be in order. He’s determined to improve bus and taxi services, as well. Conceding there’s much room for improvement
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%Day
Sino Land Co Ltd
+1.14
China Resources Enter
+0.63
Link REIT/The
+0.55
Belle International Ho
+0.35
Li & Fung Ltd
+0.32
Lenovo Group Ltd
-2.59
Sands China Ltd
-2.68
Hong Kong Exchanges
-2.71
Cathay Pacific Airways
-2.85
China Resources Land
-4.17
Source: Bloomberg
Public Works www.macaubusinessdaily.com
Move to a cheaper labour force. An official from China’s Ministry of Industry and Information Technology says its win-win. Suggesting moving industrial processes to foreign countries can combat domestic overcapacity
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And now for reality. Hong Kong-listed restaurant operator Future Bright is showing signs of frustration. One of 33 local projects recommended by local authorities to Hengqin last year in a blaze of publicity, bureaucracy is taking the shine off. Multiple approval processes are proving lengthy. But the clock has started ticking for completion
Sayonara
Spreading the load
Overruns under scrutiny
I SSN 2226-8294
More paperwork. But for a purpose, says Director of Financial Services Bureau Stephen Iong Kong Leong. Official departments’ submission of quarterly execution reports on investment plans are now necessary. Making it easier for the Legislative Assembly to spot budget overruns sooner
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