MOP 6.00
Iao Kun chip turnover down 66 per cent last month Page 5
Closing editor: Joanne Kuai
China’s current economic policy tries to avoid past mistakes Page 10
Year IV
Number 894 Thursday October 8, 2015
Publisher: Paulo A. Azevedo
Local residents’ renminbi deposits decline 9.5 per cent in August Page 4
Taiwan’s lower exports confirm generalised trade weakness Page 16
Typhoon Washes Out Golden Week Hopes
Typhoon Mujigae. Relatively mild but nevertheless damaging. Local retailers claim sales expectations were dashed by the bad weather. Visitor arrivals increased around 1.8 pct but jewellery chain sales dropped 20 to 30 pct. While food retailers and restaurants felt the pinch as well, in varying degrees. With enterprises mostly blaming the weather for raining on their National Day holiday parade rather than the slowing economy Page 2
Forex Fall China’s foreign exchange reserves fell to US$3.51 tln in September. The country’s central bank made the announcement yesterday. The reserves decreased by US$43.26 bln in the month defending the yuan
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UNESCO status threatened A former president of the UN General Assembly has been charged by U.S. authorities. With billionaire Macau real estate developer Ng Lap Seng and four others allegedly implicated in a wide-ranging corruption scheme. Media reports say Macau’s UNESCO World Heritage Site status may be a further casualty
Pages 6&7
HSI - Movers October 7
More land-use ‘victims’ unearthed Three more projects may have fallen foul of tough new land laws. Facing a similar quandary as luxury residence Pearl Horizon. The core issue revolves around uncompleted development plans. And imminent expiry of granted land use. The three plots are in Taipa
Page 3
www.macaubusinessdaily.com
62nd Macau Grand Prix
City gearing up for Grand Prix
Name
%Day
CNOOC Ltd
+13.74
China Shenhua Energy
+9.25
PetroChina Co Ltd
+9.20
Kunlun Energy Co Ltd
+8.46
Tingyi Cayman Islands
+8.03
CK Hutchison Holdings
+0.19
Cathay Pacific Airways
-0.13
Power Assets Holding
-0.14
CLP Holdings Ltd
-0.45
Sands China Ltd
-0.54
Source: Bloomberg
Counting down to the 62nd Macau Grand Prix in November. Revenue is expected to increase to MOP53m, up 3.48 pct. Meanwhile, the event budget remains stable at MOP200m. And João Costa Antunes, head of the Organizing Committee since 1988, steps down after this year’s edition
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I SSN 2226-8294
2015-10-8
2015-10-9
2015-10-10
25˚ 30˚
24˚ 29˚
23˚ 28˚