Beginning in 2020, the Transport Bureau (DSAT) will organize the taxi driver’s license exam electronically. In order to optimize the assessment method, which has been used for many years, and reduce paper use in compliance with eco-friendly initiatives, the taxi driver’s license exam will be tested electronically from 2020. The first tests will be conducted on January 15, 2020. Those who apply for the special examination from now on will take the test electronically and will be able to obtain their results immediately after completing the electronic exam. The cost of first time license issuance plus the stamp duty fee is 880 patacas. The taxi driver’s license is valid for five years.
MUST students introduced to social security policies for the elderly
The President of the Administrative Committee of the Social Security Fund (FSS), Iong Kong Io, recently visited the Macau University of Science and Technology (MUST) to introduce social security policies for the elderly, such as the Social Security System and the Non-Mandatory Central Provident Fund System, to teachers and students of the educational institution. According to a statement from the government, some students were concerned about whether young people are saving for retirement too early and the investment issues of the Non-Mandatory Central Provident Fund. Iong said that investment mainly involves three major elements – principal, time and return rate. As long as the investment time is sufficient, the ideal savings goal can easily be reached, even if the principal is relatively small and the return rate is relatively low.
Broad money supply grew 0.7% in October
The broad money supply grew by 0.7% in October with a stable share denominated in patacas, according to statistics released yesterday by the Monetary Authority of Macao. Resident deposits grew 0.3% from the preceding month to 657.3 billion patacas, whereas non-resident deposits fell 5.9% to 242.5 billion patacas. On the other hand, public sector deposits with the banking sector increased 0.5% to 246.7 billion patacas. Meanwhile, domestic loans to the private sector dropped 0.8% from a month ago to 514.5 billion patacas, while external loans also fell 0.2% to 572.6 billion patacas. At end-October, the loan-to-deposit ratio for the resident sector dropped to 56.9% from 57.6% at end-September. At the same time, the non-performing loan ratio stabilized at 0.3%.