Tag: Finance
-
Macau’s top banks honored for innovation and excellence
The Industrial and Commercial Bank of China, Macau (ICBC Macau) and Bank of China, Macau (BOC Macau) have been recognized as the top banking institutions in ... -
WeBank sets up headquarters in Hong Kong for R&D activities
WeBank Co, Ltd (WeBank), a world leading digital bank founded in Shenzhen, has established its technology company headquarters in Hong Kong earlier this week. As per ... -
Macau Pass eyes further developments in realm of cashless payment options
The MPay mobile app has achieved exceptional penetration among Macau’s local population, with its registered user base representing over 90% of the city’s residents. Based on ... -
Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years
Japan’s central bank raised its benchmark interest rate yesterday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost ... -
AMCM: New credit platform refuses no legit application
The automated inter-bank credit inquiry platform does not refuse applications that have all required documents, the Monetary Authority of Macao (AMCM) has told lawmaker Ron Lam. ... -
Micro Connect sets ‘market standard’ for SME
Regional investment and financing firm Micro Connect has released a new set of protocols to introduce a new market standard for micro and small business financing, ... -
Lawmaker wants local bond market to be less institutional
Lawmaker Ip Sio Kai wants the local bond market to be less institutional and more open to the general public and specific investors, he said yesterday ... -
Macau’s purchasing power in 2023 nearly 30% lower than pre-pandemic levels
A report from Global Finance Magazine on the “Richest Countries in the World 2023” revealed that Macau’s per capita purchasing power this year dropped nearly 30% ... -
British financier sought for huge tax fraud is extradited to Denmark from UAE
A Dubai-based British hedge fund trader sought by Danish authorities for allegedly orchestrating a $1.7 billion tax fraud, considered one of the largest in the Scandinavian ... -
Bank license changes possible after updated law
A new type of bank license with a restricted scope of business may be issued under the updated laws for the financial system, the Monetary Authority ... -
China holds conference as leaders maneuver to get slowing economy back on track
China’s leaders are expected to search for ways to mend the country’s fractured property market, create jobs for millions of unemployed youths and spur faster growth ... -
HKD Easy Transfer to launch Sept. 25
The Local Fast Payment System (FPS) Easy Transfer will be upgraded on Sep. 25, with instant HKD transfers between banks in Macau being a key addition, ... -
Central gov’t to issue RMB5b of treasury bonds in Macau
China’s Ministry of Finance said it will issue a sovereign bond of RMB5 billion yuan in Macau on September 20, a move considered to support the ... -
Guangdong moves ahead with the third bond issuance in Macau later this month
The People’s Government of Guangdong Province will issue offshore bonds for the third consecutive year, the local government has announced. According to a government statement, the ... -
AMCM to introduce HKD instant transfer
The next phase of the local Easy Transfer service shall see instant transfer of HKD, the Monetary Authority of Macao (AMCM) has announced on its website. ... -
Move to boost yuan globalization
The Hong Kong dollar-renminbi Dual Counter Model was launched at a time when the strategic importance of Chinese yuan currency in terms of fund flow, liquidity ... -
First listing of REIT free trade zone bond listed on MOX
Hong Kong-listed Yuexiu Real Estate Investment Trust’s RMB 1.5 billion unsecured bond was listed on the China (Macau) Financial Assets Exchange Co., Ltd. (MOX), being the ... -
AMCM raises the interest rate to 5%, highest rate since 2008
The Monetary Authority of Macao (AMCM) has adjusted the benchmark interest rate to 5% (+0.25%), AMCM noted in a press statement. This is the highest interest ... -
Asian region continues to occupy largest share of residents’ investments
The Asian region has continued to occupy the largest share of Macau residents’ external portfolio investments at 53.8%. The rest was mainly placed in the North ... -
Existing services see slight suspension as BOC (Macau) opens
As Bank of China (BOC) opens a subsidiary in Macau next Monday, certain services will be briefly suspended to cope with the transformation, bank executives announced ... -
Gov’t financial bill paves way for more types of banking institutions
A legislative bill to expand the number of permitted financial institutions in the city is on its way to the parliament, the Executive Council (ExCo) announced Friday. ... -
Bank of England to buy UK bonds to avert financial risk
The Bank of England said yesterday that it will launch a temporary government bond-buying program to stave off “material risk to U.K. financial stability” after unfunded ...
