Briefs: Foreign exchange reserves continue to rise

The MSAR’s foreign exchange reserves have increased 1.4 percent to MOP127.6 billion (USD15.99 billion) at the end of July compared to the revised value a month ago. According to data released by the Monetary Authority of Macau yesterday, the MSAR’s foreign exchange reserves at the end of July represented 13 times the currency in circulation or 109.9 percent of Pataca M2 (money and quasi money) at end-June this year. Meanwhile, the trade-weighted effective exchange rate index for Patacas has decreased 0.13 points compared to the month prior and 0.97 percent year-on-year to 97.32 in July. The trade-weighted effective exchange rate index is a gauge of the domestic currency’s exchange rates against the currencies of Macau’s major trading partners. Some lawmakers have made recommendations regarding the investment of the foreign exchange reserves. Si Ka Lun has advised the administration to invest in projects in Hengqin through a government established investment company that is similar to a sovereign fund. In fact, the suggestion for the Macau government to set up a sovereign fund had already been raised in a recent International Monetary Fund report.

Public schools on UM campus priority list

The Office of the Secretary for Social Affairs and Culture announced yesterday that the government has decided to reserve the Taipa campus of the University of Macau (UM) for higher education. The announcement stated that as UM’s move to the new campus in Hengqin is about to be completed, the MSAR would review the old campus usage and the related master plans would prioritize future development of public schools. So far, the maintenance of part of the facilities for use by UM has been approved by the government, namely the university library, Macau Research Center, Centre for Continuing Education as well as the Centre for Engineering Research and Testing. Proposals include handing over UM’s sports stadium to the Macao Sport and Development Board to be open to all higher education schools for educational purposes.

Tourism Crisis Management Office website revamped

The Tourism Crisis Management Office (GGCT) announces the launch of its revamped website today. Targeting some of the issues and questions frequently raised by Macau residents and tourists traveling to Macau, GGCT provides five new topics, namely “Loss of Macau ID or Travel Documents”, “Repatriation and Medical Services”, “Visa and Immigration Related Issues”, “Consular Missions of the PRC and Requests for Assistance”, and “Credit Card or ATM Card Loss”. The Tourism Crisis Management Office (GGCT) website is available in Chinese (Simplified and Traditional), Portuguese and English.

CTM bids to run WiFi Go

CTM and Centro de Informações Tecnologia de Macau are submitting a bid to run the Wireless Broadband System “WiFi Go” provided by the Macau government. According to a Radio Macau report, the free wireless service has been provided since 2012 within certain government services, public facilities, as well as at tourist attractions. The service currently covers 147 locations and it is operated by the Centro de Informações Tecnologia de Macau.