Tag: Finance
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HSBC proposes to privatize Hong Kong’s Hang Seng Bank
HSBC Asia Pacific announced yesterday its plan to take Hong Kong’s Hang Seng Bank private in a deal valued at HKD106.1 billion (USD13.63 billion). This move ... -
Moody’s, Fitch signal caution on SJM’s over-elevated leverage
Moody’s Ratings has lowered its outlook for SJM Holdings Limited, becoming the second major ratings agency to do so this month. Citing concerns over the company’s ... -
Macau bond market hits 962 issues worth MOP996 million by July
The Monetary Authority of Macau (AMCM) reported that by the end of July, 962 bonds valued at MOP995.6 million had been issued or listed in Macau, ... -
Macau welcomes first issuance of Shenzhen gov’t bonds
The Monetary Authority of Macao (AMCM) issued a statement yesterday announcing the first issuance of municipal government bonds by the Shenzhen Government in Macau. The announcement ... -
Guangdong issued RMB2.5 billion offshore municipal bonds in Macau
The People’s Government of Guangdong Province has issued RMB2.5 billion in offshore RMB-denominated municipal government bonds on Tuesday. This issuance marks the fifth consecutive year since ... -
MOX and Dongxing Securities forge strategic partnership
Chongwa (Macao) Financial Asset Exchange Co., Ltd. (MOX) and Dongxing Securities Co., Ltd. recently signed a framework business cooperation agreement at the Beijing Financial Street Center, ... -
Guangdong to issue RMB2.5 billion in municipal bonds in Macau late this month
The Monetary Authority of Macao (AMCM) confirmed that the Guangdong government will issue offshore RMB-denominated municipal government bonds in Macau late this month. According to AMCM, ... -
Two BOC presidents unreachable amid graft Crackdowns
Two senior overseas executives of Bank of China Ltd. (BOC) have become unreachable, with one reportedly detained by anti-corruption authorities, according to Caixin Global. This is ... -
Macau lists RMB6 billion in government bonds
China’s Ministry of Finance listed RMB 6 billion worth of government bonds on the Chongwa (Macao) Financial Asset Exchange (MOX) yesterday. This marks the fifth consecutive ... -
Gov’t and Bank of China sign agreement to boost financial services
The local government and the Bank of China recently signed a cooperation agreement to enhance banking services in Macau. The signing took place at the Guangdong-Macau ... -
Gaming tax revenue slightly rises in first half
The city’s gaming revenue for the first half of 2025 reached MOP45.40 billion, marking a slight increase of 0.9% compared to MOP44.99 billion during the same ... -
Local market braces for ripple effects from New World Development’s massive debt deal
The local banking and real estate sectors are cautiously optimistic following a record-breaking refinancing deal by Hong Kong’s New World Development (NWD), a move seen as ... -
Citibank Macau branch closes operations today
U.S.-based Citigroup has announced that the Citibank Macau branch will officially close today. However, it will still offer services to its Macau customers through its Hong ... -
49 investment projects report zero execution rate in Q1
Out of 202 active investment projects, 49 reported a 0% execution rate in the first quarter of 2025, according to the Legislative Assembly’s Follow-up Committee for ... -
Foreign exchange reserves increase 3.1% m-o-m in May
The Monetary Authority of Macao (AMCM) has announced that the preliminary estimate of Macau’s foreign exchange reserves stood at MOP236.3 billion (approximately USD29.26 billion) as of ... -
Publicly owned companies performing well despite millions in losses: DSGAP
The Public Assets Supervision and Administration Bureau (DSGAP) has published a report that grades the performance of publicly owned companies in 2024. According to the report, ... -
No specific restrictions on departmental spending in next year’s budget
The Chief Executive, Sam Hou Fai, issued a directive on May 14 for preparing the fiscal year 2026 budget, but it did not impose specific restrictions ... -
Gov’t strives to launch e-MOP prototype in two years
The Macau Monetary Authority (AMCM) is currently implementing the prototype system for the “Digital Macau Pataca” (e-MOP) in phases, with the Secretary for Economy and Finance, ... -
With outlook uncertain, the Bank of England joins the US Fed in putting interest rates on hold
The Bank of England kept its main U.K. interest rate unchanged at 4.50% yesterday even though the economy is barely growing and the nation faces more ... -
Mobile payments grow 8.2% in value in Q4 2024
The number and value of local mobile payment transactions grew quarterly in the fourth quarter (Q4) of 2024, according to statistics released by the Monetary Authority ... -
Hong Kong and Macau launch direct linkage for bond markets
The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) announced yesterday that they have launched a direct linkage between their respective bond ... -
Bad loans have hit a 20-year high; sector claims there is no cause for alarm
The local banking sector has continued on an escalation of non-performing loans over the year of 2024, with November hitting the highest level in 20 years, ... -
Gov’t expects MOP240b GGR in 2025
The government has projected gross gaming revenues (GGR) of MOP240 billion for 2025, an increase of approximately 11% compared to the current year’s budget estimate of MOP216 billion. ... -
Micro Connect launches market structure for SMEs
Micro Connect (H.K) Investments Limited made waves in the financial sector yesterday with the launch of its innovative market operating structure, the Micro Star, under the ... -
GBA tax challenges tackled in joint tax memorandum
In the News Guangdong, Hong Kong, Macau and Shenzhen signed, in Hong Kong, a memorandum (MoU) on tax cooperation, the Financial Services Bureau (DSF) has announced ... -
Australia’s treasurer will visit China this week as bilateral ties are mending
Treasurer Jim Chalmers will this week become the first Australian government minister in that key economic role to visit China in seven years, in the latest ... -
e-MOP prototype to be unveiled before the year-end: CE
The prototype of Macau’s digital currency (e-MOP) will be revealed before year-end, the Chief Executive (CE), Ho Iat Seng, said yesterday morning during the opening ceremony ... -
Expanding RMB usage, trading infrastructure central to Sino-Portuguese economic bonds
The expanded use of China’s RMB currency and strengthened financial trading infrastructure will be central to visions of taking economic bonds between China and Portuguese-speaking nations ... -
Macau slashes interest rates to 5.25%, follows Fed’s lead
Macau and Hong Kong have both followed the U.S. Federal Reserve by reducing their interest rates to 5.25%, a decrease of 50 basis points. This move, ... -
Macau and Hong Kong forge bond linkage to boost cross-border investment
Monetary authorities in Macau and Hong Kong have announced a bond linkage that will allow investors from both regions to trade bonds seamlessly.This significant development was ... -
AGTech acquires controlling stake in Ant Group bank
AGTech Holdings Limited has announced the acquisition of a controlling stake in Ant Bank (Macao), a digital banking unit of Ant Group, for MOP243 million (approximately ... -
Balance of payments surplus nearly quadrupled in 2023
The Monetary Authority of Macao (AMCM) has announced a remarkable current account surplus of MOP 136.7 billion for 2023, highlighting a strong recovery in travel service ... -
Guangdong to issue RMB2.5b in offshore bonds in Macau
In a move to further integrate the Guangdong-Hong Kong-Macau Greater Bay Area, Guangdong’s Department of Finance plans to issue offshore yuan-denominated bonds worth up to 2.5 ... -
China cuts 1-year benchmark rate, moving to boost economy as world markets languish
China ratcheted up its effort to reinvigorate its economy yesterday by cutting a key policy rate and interest paid on bank deposits. The move coincided with ... -
Accounting standards under discussion
The Professional Accountants Committee (CPC) has launched a public consultation on revising the territory’s accounting standards to align with the latest International Financial Reporting Standards (IFRS). ...
