Association identifies economy as central public concern

With the economy at the center of public discussion, a survey has discovered that residents want adjustments to the cash handout policy. The Choi In Tong

Renault, Geely announced powertrain joint venture

Renault SA and China’s Geely announced plans yesterday for a jointly owned venture to produce gasoline-powered and hybrid powertrains, adding to a series of partnerships between

Trade down on weak global demand, virus curbs

China's trade shrank in October as global demand weakened and anti-virus controls weighed on domestic consumer spending. Exports declined 0.3% from a year earlier to

Huawei says revenue down 2.2% so far this year

Chinese tech giant Huawei’s revenue rose in the latest quarter as infrastructure sales helped to offset damage to its smartphone business under U.S. sanctions, according to

China to further encourage foreign investment, push globalization

China will further intensify its efforts to encourage foreign investment, an official with the country’s top economic planner said yesterday. Zhao Chenxin, deputy director of

Hong Kong shares soar 5%, leading Asian market gains

Hong Kong’s share benchmark soared more than 5% yesterday as Asian shares tracked gains on Wall Street. New Zealand’s share benchmark rose 0.7% after its central bank hiked

OPEC+ weighs large oil cutback to boost sagging prices

The OPEC+ alliance of oil-exporting countries yesterday will debate a potentially large cut in the amount of crude it ships to the global economy — a

UM forecasts economic growth to drop up to 29% in 2022

The University of Macau (UM) estimates that economic growth will drop between 26.4% and 29.2% this year. This is followed by a drop between

High inflation in sight, US Federal Reserve to signal more rate hikes ahead

Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed’s drive to curb inflation

Group expects Prosperity Index to remain low from August to November

The Macau Economic Association has announced that it expects the city’s Prosperity Index to remain at a low level – 1.8 or 1.9 points – from August

Premier Li highlights central role of consumption

Premier Li Keqiang has underlined efforts to promote the role of consumption as the major driver of economic growth and to expand effective investment in order

Buffett’s company trims its stake in Chinese EV maker BYD

Warren Buffett’s company has trimmed its stake in Chinese electric car and battery maker BYD for the first time since it bought the shares in 2008,

Economy shrinks by nearly 40% amid pandemic woes

The city’s economy contracted 39.3% year-on-year in the second quarter of 2022 amid the pandemic outbreak in the neighboring regions, which affected the city’s border

Beijing cuts interest rate to shore up stagnation

China's central bank trimmed a key interest rate yesterday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is trying

German FinMin pitches usd10b tax cut plan to dampen inflation

Germany’s finance minister said yesterday that the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of

Near 150 ex-offshore companies convert to normal operations

According to the government, 147 former offshore companies have retained their existing business names and started operating without an offshore license. The disclosure was made

Inflation surges to new 40-year high of 9.4%

Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis.

Economic group expects Prosperity Index to reach trough this month

As the city faces economic challenges amid the present Covid-19 outbreak, its Prosperity Index will likely see its lowest point in July, the Macau Economic Association

Trade surplus surges to record as exports accelerate

China's monthly trade surplus soared to a record $97.9 billion in June as export growth picked up after anti-virus controls that shut down Shanghai were

Q1 GDP 50% lower than pre-pandemic levels

The Macau SAR’s gross domestic product (GDP) has declined further, by 8.9% year-on-year in real terms in the first quarter of 2022, as a result

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