News

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Lawrence Fong Hoc Nang, an assistant professor of international integrated resort management from the Faculty of Business Administration, University of Macau (UM), received the Best Reviewer Award at the 16^th Asia-Pacific CHRIE (ApacCHRIE) Conference. The award aims to motivate reviewers to deliver reviews on conference papers in a professional and efficient manner.
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According to statistics released today by the Monetary Authority of Macao, the total number of personal credit cards issued by banks in Macao continued to rise in the second quarter of 2018. Both the credit card turnover and total repayments witnessed double-digit growth from a year ago.
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Monetary Authority of Macao (hereafter “AMCM”) reiterates that virtual currencies are virtual commodities which are neither legal tenders nor financial instruments. The public should remain vigilant that virtual currencies might involve fraud, or might even be used for illegal activities.
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The Secretary for Administration and Justice, Ms Chan Hoi Fan, said today the Government had almost completed drafting the set of legislative bills associated with the establishment of the new Municipal Affairs Bureau.
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The tickets for the 32^nd Macao International Music Festival (MIMF), organized by the Cultural Affairs Bureau (IC), went on sale on 5 August (Sunday). Interested members of the public waited at different ticket offices to purchase tickets. Over 5,000 tickets were sold by 7:00pm on the first day of ticket sales, and the percentage of the ticket sales for most of the shows were more than 50 %.
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Information from the Statistics and Census Service (DSEC) indicated that a total of 1,720 new companies were incorporated in the second quarter of 2018, an increase of 491 year-on-year. Total value of registered capital was decreased by 97.0% to MOP221 million, due to the incorporation of a fund company with a large capital in the same quarter last year. Analysed by industry, there were 556 newly incorporated companies operating in Wholesale & Retail Trade and 505 in Business Services. Companies in dissolution totalled 169 in the second quarter, and the value of registered capital of companies in dissolution amounted to MOP50 million.
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Chao Chi Wa, a fourth-year student from the Department of Electrical and Computer Engineering, Faculty of Science and Technology (FST), University of Macau (UM), received an Outstanding Electrical Power and Energy Engineering Student Award 2018 from the Institution of Engineering and Technology, Hong Kong, for his outstanding academic research and final-year project design for a photovoltaic (PV) inverter system that not only can generate PV power but also can compensate for power quality problems. Chao observed that the non-linear electrical loading systems, such as escalators, large centralised air-conditioning systems, and energy-saving lights, can cause serious power quality problems in the power grid, which can lead to the malfunction of electrical equipment and increased loss of energy. To address this problem, he proposed a PV inverter system that can generate a steady amount of PV power while compensating for power quality problems, thus reducing distribution power loss and reducing emissions. The PV inverter system can be used in commercial buildings, hotels, and casinos, etc.
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According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in June, with the share of patacas remained stable. On the other hand, resident deposits dropped from a month earlier whereas loans to residents posted an increase.
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