Briefs | IC to host additional concerts for HUSH!! summer festival

The Cultural Affairs Bureau (IC) has decided to host two additional concerts for HUSH!! Full Music 2020 due to what the authority has called an “overwhelming response” to the summer festival. HUSH!! was held between June 21 and August 2 this year, with an amended structure and lineup due to Covid-19. A range of performances were staged at several outdoor and indoor venues and were well received by the public, according to the IC. In response to public demand, the IC has invited some of the bands to put on additional performances later this month. The additional concerts will be held on the evenings of August 22 and 23 at the Macao Contemporary Art Centre – Navy Yard No. 2. More information can be found on the IC website.

New credit for small businesses rebounds in 2020

Newly approved credit for small businesses rebounded in the first half of 2020, according to data released yesterday by the Monetary Authority of Macao. In the first half of the year, new credit extended by Macau banks to small and medium-sized enterprises totaled 15.4 billion patacas, up 80.1% from the second half of 2019, but down 7.2% from the first half of 2019. Meanwhile, the outstanding balance of SME loans increased during the first half of the year. At the end of June, the outstanding balance had grown 3.5% from the end of 2019, or 2.2% from the equivalent period a year earlier. The total at the end of June was 89.7 billion patacas, according to the authority.

Gov’t calls on advertisers of non-Macau real estate to abide by law

The Directorate of Economic Services (DSE) and the Consumer Council (CC) have met with representatives from the advertising and real estate sectors, reminding them of their duty to comply with Macau law. The meeting comes in response to a growing demand among Macau residents for properties located outside of the Macau SAR. In response to the demand, more and more advertisements for non-local properties have been registered in the market, according to the two government entities. At the meeting, the DSE reiterated that advertisements for properties located outside Macau must comply with the provisions of Law No. 7/89/M, which requires advertising messages to be truthful and contain specific information regarding the sales conditions. In the case of real estate listings located in mainland China, they must indicate additional information regarding licensing and state authorizations in an explicit and visible way. The CC also requests that residents remain skeptical of real estate advertisements in order to protect their own rights and interests.