Briefs | Lending rates to be raised

The MSAR raised the Base Rate of the Discount Window by 25 basis points to 2.0 percent yesterday, the Monetary Authority of Macao said. As the pataca is linked to the Hong Kong dollar, the movements of policy rates in Hong Kong and Macau should be basically consistent in order to maintain the effective operation of the linked exchange rate system, it said in a statement. Therefore, Macau banks will adjust their deposit and lending rates at the retail level, according to market developments. Meanwhile, local banks should assess the impacts of interest-rate adjustments on their operating positions and properly manage the potential risk, the statement said. 

Arts Festival shows to have additional performances

Some shows included in the 29th Macau Arts Festival will have additional performances, the Cultural Affairs Bureau (IC) announced yesterday.  According to the IC, additional performances will be offered for “the most sought-after shows,” namely “Sunset at the Shipyards”, “Migration”, “Sponge” and “When All Was Green”, which will be on sale from 10 a.m. on Sunday. The Arts Festival will be held from April 27 to May 31.

Bidding opens for Customs office refurbishment

Bidding for a project to refurbish the office of the Customs Services’ Maritime Inspection Department opened this week. The Land, Public Works and Transport Bureau received 24 bids for the project, which is expected to start in the third quarter of this year and last up to 300 working days. The office is a six-story building at Ilha Verde. The works will consist mainly of changing tiles and reinstalling some equipment and facilities.

Greater protection sought for Lai Chi Vun shipyards

The Association of Synergy of Macao has delivered its opinion regarding the evaluation of the classification of Lai Chi Vun shipyards. The association is proposing that the government should list the mountain and water bodies near the Lai Chi Vun shipyards as a buffer area in order to protect these mountain and water areas and to protect the shipyard area as a whole. The association also recommends that the Land, Public Works and Transport Bureau establish a maintenance and renovation plan together with the Cultural Affairs Bureau regarding cultural relics and architecture.