Briefs | Commercial real estate loans soar

New approvals of residential loans (RMLs) decreased by 12.8 percent month-to-month, while those of commercial real estate loans (CRELs) surged by 126.5 percent month-to-month in June, according to statistics released yesterday by the Monetary Authority of Macao. New RMLs to residents accounted for 77.4 percent of the total and fell by 31.1 percent, while the non-resident component surged by 830.3 percent, mainly attributed to larger loans granted to a few enterprises. In regards to CRELs, 68.1 percent of the total was granted to residents. In terms of value, new CRELs to residents increased by 67.3 percent, while those to non-residents soared by 829.7 percent, driven by loans to enterprises collateralized by land. On an annul basis, new approvals of CRELs grew by 3.9 percent. At the end of June, the outstanding value of RMLs was MOP176.6 billion, an increase of 0.7 percent from one month earlier and 6.7 percent from a year ago. Concurrently, the outstanding value of CRELs rose by 1.8 percent month-to-month or 20.1 percent on an annual basis to MOP169.1 billion.

Fringe Festival calls for proposals

The 16th Macao City Fringe Festival, organized by the Cultural Affairs Bureau (IC), will be held in January next year. Call for proposals of programs is now open until 26 August . Call for proposals of programs for this edition of the event should adopt the concept “All around the city, our stages, our patrons, our artists.” The programs can be local, overseas works or cross-regional collaborations produced in any art form.

Taipa Houses-Museum hosts jazz concert

A jazz concert will be held on the tomorrow between 5.30 and 7 p.m. at the Amphitheater of Taipa Houses-Museum. Several jazz musicians will play, including the well known Vincent Herring and Eric Alexander, as well as Yoichi Kobayashi, Yuichi Inoue and Peng Ji. A young local saxophonist, Chak Seng Lam, will also take to the stage. The event is organized by the Cultural Affairs Bureau and the Jazz Club of Macau.

Man arrested scaling Trump Tower

A man scaling Trump Tower using giant suction cups was grabbed and pulled into the building by officers from the New York Police Department (NYPD) on Wednesday, after ascending to the 21st floor. The 19-year-old from Virginia was arrested and escorted to a hospital for psychological assessment. The man, who explained that he wanted to meet the presidential candidate Donald Trump, is expected to soon face several charges by the Manhattan District Attorney’s office. NYPD sergeant Brendan Ryan told CNN that the police force is not intending to release the man’s name until charges have been either “dropped or filed.” This isn’t the first time a climber has ascended a building using suction cups. French rock and urban climber Alain Robert performed the feat at the Galaxy Macau Tower in April 2014 to promote “The Amazing Spider-Man 2.”

Melco Crown pays out summer bonus

Gaming operator and entertainment resort owner, Melco Crown Entertainment (MCE), announced yesterday that a bonus was paid to eligible MCE employees at the end of July. The “Summer Incentive” payment is part of the “MCE Employee Incentive Program,” and represents a bonus equivalent to an additional month’s salary. The program was introduced in 2014, and offers eligible employees the choice between an annual additional payment in the summer or a “Golden Nest Egg” – a one-off payment equivalent to six times the employee’s monthly salary, according to the company. MCE Chairman and CEO, Lawrence Ho, stated: “We see our employees as the most valuable asset. I am delighted to learn that the majority have opted for the longer-term ‘Golden Nest Egg,’ as this will add great enhancements to our employees.”

CE heading to Beijing for talks with government

The Chief Executive, Chui Sai On, will lead a delegation to Beijing on Monday to meet with Chinese officials to discuss Macau’s first Five-Year Development Plan, according to a statement from the Government Information Bureau (GCS). During his visit to Beijing, Chui is scheduled to meet with officials from several different ministries and departments, and will be accompanied by several individuals involved in the five-year plan initiative. The GCS statement noted that the government expects that it will be possible to release the final version of the plan in September. Chui will return to Macau on Wednesday. During his absence, the Secretary for Administration and Justice, Sonia Chan, will be the Acting Chief Executive.