The preliminary estimate of the foreign exchange reserves of Macau reached MOP164.7 billion (about USD20.39 billion) at the end of April, the SAR’s Monetary Authority said yesterday. The reserves increased by 0.9 percent from the revised value of MOP163.3 billion for the previous month. The foreign exchange reserves at the end of April represented 10 times the currency in circulation. Meanwhile, the trade-weighted effective exchange rate index for the pataca rose 0.34 points month-to-month and 5.28 points year-on-year to 105.9 in April, implying that overall speaking, the exchange rate of pataca grew against the currencies of Macau’s major trading partners.
Consumer Council representatives attend Portugal summit
Representatives of the Macau government, together with those from the Macau Consumer Council, attended the Consumers International Summit 2019 in Estoril, Portugal, from April 29 to May 2, participating in meetings and seminars during the event. The focus of the Summit is to put consumers at the heart of digital development. The Summit explored how artificial intelligence is leading the way to change the lives of consumers and also the impacts of the digital economy on them. It addressed issues that are important to consumers living in a digital society and economy, such as choice, access, data protection and regulation. The Consumers International Summit is held every four years. New policies on global consumer protection are laid out in each summit and a new president, and executive members are elected. Marimuthu Nadason of the Federation of Malaysian Consumers Association was elected President this time.
IC’s research grant applications open until May 31
The application deadline for the academic research grants launched by the Cultural Affairs Bureau (IC) is May 31, 2019, according to a statement from the government. The annual academic research grants aim at encouraging original academic research on the culture of Macau and on the cultural exchange between Macau, mainland China and other countries. Local or overseas doctorate degree holders with proven academic research experience, and local or overseas researchers with sufficient research experience and recognized academic accomplishment are eligible to apply for the grants. Eligible academics may now submit their applications. Late applications will not be considered.