MOP 6.00
SARs drive CEPA
Closing editor: Joanne Kuai
CEPA. Macau and Hong Kong will start negotiations on the Closer Economic Partnership Arrangement Agreement by the end of the year. The new arrangement will bind tariffs at zero. Minimise non-tariff barriers. Avoid imposing trade remedies. And facilitate Customs procedures
Year IV
Number 896 Monday October 12, 2015
Publisher: Paulo A. Azevedo
Page 3
Big discounts, less business for luxury hotels Almost 20 pct off rack rate. And National Day Golden Week. But the lustre had come off 5-star hotels with Air Macau cuts a 3.3 drop in occupancy y-o-y. Macau Government Tourist Office say hotels and guesthouses provided fuel surcharge to US$26 per sector 30,526 rooms between October 1 and 7. Local 4-star hotel room rates plunged an average 28.09 pct y-o-y. Page 2 While occupancy nudged up 0.49 pct for the period Page 2
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UN bribery suspects netted
Leaders say China ready to overcome its economic hurdles
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A Dominican Republic ambassador. Prosecutors say the UN official is the bagman for a wide-ranging bribery scheme. Bailed from jail on US$2 million surety. Francis Lorenzo was charged this week with five others. Including the UN General Assembly’s former president John Ashe. And billionaire Macau developer Ng Lap Seng
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Finance ministers to fight multinational tax avoidance
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HSI - Movers
A pact for Asia
Report ‘ignoring facts’
Regional Comprehensive Economic Partnership talks. Starting this week. The 16 Asian country pact would be the world’s biggest such bloc. Encompassing 3.4 billion people
‘Macau did not make progress towards ‘an electoral system based on universal and equal suffrage . . .’. So says the U.S. Congressional-Executive Commission in its 2015 report. Pointing the finger, too, at the MSAR’s banning of pro-democrats and journalists from Hong Kong ‘for political reasons’. All roundly refuted by the SAR Government
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October 9
Name
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Interview
Rock ‘n’ Roll F&B www.macaubusinessdaily.com
Melco goes it alone for Barcelona casino licence
A lack of human resources. And relentless rental hikes. Veteran restaurateur Norman Tam sings a familiar refrain. The director and general manager of Hac Sa Park Restaurant in Coloane tells Business Daily these issues continue to hinder the operations of local small and medium-sized enterprises. But the company’s successful school catering business helps balance the books. As does his passion for music, with his rock band Test mixing business with a lot of pleasure
Pages 6&7
%Day
BOC Hong Kong Holdin
+4.29
CNOOC Ltd
+3.58
Lenovo Group Ltd
+3.54
Bank of East Asia Ltd/T
+2.74
China Unicom Hong Ko
+2.72
China Mobile Ltd
-1.56
Hong Kong & China Ga
-1.59
Sino Land Co Ltd
-1.75
China Mengniu Dairy C
-1.80
Cheung Kong Property
-1.97
Source: Bloomberg
I SSN 2226-8294
2015-10-12
2015-10-13
2015-10-14
18˚ 24˚
20˚ 27˚
22˚ 28˚