Secretary for Economy and Finance Lei Wai Nong led a delegation to visit a traditional Chinese medicine (TCM) research facility in Nanjing, where the “Macao Week in Jiangsu” promotional roadshow is held. The visit was set to highlight Macau, as TCM has been pinpointed by Beijing as one of the city’s core industries for achieving economic diversification. An exchange session was also held during Macao Week for Macau tourism industry practitioners to foster partnerships with potential.
BNU makes MOP110M Q1 net profit despite drop
Government’s banker BNU has recorded a first-quarter net profit of MOP109.4 million, a 20.8% decrease from same period last year. The bank attributed the drop to “lower interest rates in comparison with their prevailing levels for most of the first quarter of 2020” in a statement. The bank did not manage to offset the loss of interests by a 7.8% quarter-over-quarter growth in credit, which amounted to nearly MOP27 billion end-March 2021. It recorded a rise in non-interest income and a fall in operating costs.
Foreign exchange reserves rises 3%
The city’s foreign exchange reserves are estimated to reach MOP206.7 billion in April, according to preliminary data from the Monetary Authority of Macao. The latest estimate is 3.1% higher than the revised tally of MOP200.5 billion for the previous month. The reserve figure in April is 11 times the currency in circulation, or 86.6% of pataca M2 in March. The trade-weighted effective exchange rate index for patacas declined 0.22 points month-to-month, and 6.44 points year-on-year to 103.0 in April. This indicates that the exchange rate of patacas dropped against the currencies of the city’s major trading partners.
SMG records highest temperature since beginning of Summer 2021
The Meteorological and Geophysical Bureau (SMG) recorded 34.1 degrees Celsius at the Outer Harbor Ferry Terminal weather station, the highest temperature recorded since the beginning of summer so far. Today, the bureau predicts that the weather temperatures will range from 27 to 33 degrees Celsius. The SMG warns the public to avoid strenuous activities outdoors.