News

The Historical Archives will hold a Binding Workshop on Saturday 18th of December from 14.00 to 17.00. Participants can learn more about binding, one of the techniques used to protect Macao’s precious documentary heritage, as well as gain a deeper understanding of how handmade books are sewn together. Conservation professionals will introduce and demonstrate this traditional technique and support participants as they make their own hardcover notebook. By the end of the three-hour session, participants will be able to take home their own hardcover notebook … and perhaps offer it as a beautiful Christmas gift! No previous experience is required but participants must be at least ten years old. Starting 13th of December, please visit the Historical Archives of Macao (open Mon-Fri, 09:30-18.30) on Tap Seac Square to register beforehand and pay the workshop fee of MOP$20. Places are limited and will be distributed according to order of registration. Please call Miss Chu if more information is required, tel: 8598 6537.
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According to statistics released today by the Monetary Authority of Macao, on a monthly basis, money supply M2 continued to grow in October. As deposits grew at a faster pace than loans, the loan-to-deposit ratio dropped from a month earlier.
Money supply
Currency in circulation and demand deposits dropped 0.5% and 6.5% respectively. M1 thus decreased 5.6% when compared with the previous month. Meanwhile, as quasi-monetary liabilities rose 4.7%, M2 increased 3.2%, amounting to MOP244.6 billion. On an annual basis, M1 and M2 rose 7.9% and 15.9% respectively. The share of Pataca (MOP) in M2 stood at 27.5%, down 1.0 percentage point over a month ago or 0.6 percentage points from a year earlier. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 55.9%, up 1.2 percentage points month-to-month or 2.0 percentage points year-on-year.
Deposits
Resident deposits grew at a faster pace. Their value increased 3.3% from the previous month to MOP239.2 billion. Of which, MOP deposits dropped slightly by 0.5%, while HKD deposits and other foreign currency deposits increased at respective rates of 5.6% and 2.0%. Concurrently, non-resident deposits grew 4.4% to MOP76.1 billion and public sector deposits with the banking sector increased 6.2% to MOP21.5 billion. As a result, total deposits with the banking sector grew 3.7% from a month earlier to MOP336.8 billion. The shares of MOP and HKD in total deposits were 23.4% and 47.2% respectively.
Loans
Domestic loans to the private sector grew at a slower pace. Their value increased 2.1% on a monthly basis to MOP122.1 billion. Among which, MOP36.7 billion was MOP-denominated and MOP76.6 billion was denominated in HKD, representing 30.1% and 62.7% of the total respectively. Meanwhile, external loans increased 1.0% to MOP114.3 billion; of which, loans denominated in MOP and HKD accounted for 0.7% (MOP0.7 billion) and 41.4% (MOP47.3 billion) of the total respectively.
Loan-to-deposit ratios
As the growth pace of resident deposits (including public sector deposits) was faster than that of domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-October 2010 dropped 0.7 percentage points month-to-month to 46.8%. The ratio for both the resident and non-resident sectors marked 70.2%, down 1.5 percentage points from the previous month.
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Organized by Macao Museum under the Cultural Affairs Bureau, a themed exhibition entitled Heavenly Harmonies – Taoist Ritual Music in Macao will be open to public during December 17th, 2010 to March 20th, 2011. Opening Ceremony will be held at 6 pm on December 16th (Thursday). This exhibition is expected to better promote the preservation of the local intangible cultural heritage and provide more relevant information to the general public. Following the successful inscription of ‘Macao Religious Figure Carving’ on the list of the second batch of National Intangible Cultural Heritage (in the category of traditional art) in June 2008, Macao Museum once again initiated the declaration for three other items, namely the “Taoist Ritual Music in Macao” (in the category of Traditional Arts), the “Cantonese Naamyam (Singing and Narrative Songs)” (in the category of Quyi), and the “Festival of the Drunken Dragon” (in the category of Folk Costums) to the Ministry of Culture of the People’s Republic of China in 2009. Taoism is a traditional Chinese native religion and part of the Chinese culture. It greatly enriches the Chinese traditional culture during its long development process. Up until now, its influence is still profound. Chinese traditional culture which is composed of Confucianism, Buddhism and Taoism is actually the backbone of Macao’s local culture. Therefore, the music played during the Taoist rituals (generally called “Taoist Fasts and Offerings Music” or “Taoist Ritual Music”) becomes one of the Macao’s local intangible cultural heritage elements.
The themed exhibition Heavenly Harmonies – Taoist Ritual Music in Macao held by the Museum aims at showing to the public the representative achievements of Macao’s local traditional music and promoting the cultural value contained. At the same time, this exhibition is expected to showcase the significance and the current progress of salvaging, conserving, systemizing and studying the local endangered traditional music. Besides, by holding this exhibition, it is believed that the general public can have a better knowledge and understanding about this intangible cultural heritage so that the public awareness of preservation can be enhanced. In order to help the residents and visitors in Macao get more acquainted with the features of the Taoist Ritual Music in Macao, the organizer has arranged two themed seminars to tie in with the exhibition. The first session was held on November 27th and the second one will be held in the Macao Museum Auditorium on December 18th (Saturday), from 3 pm to 5 pm. Wang Zhongren, a former associate professor of Wuhan Conservatory of Music, is especially invited to speak at the seminars. All are welcome to join in the seminars. As seating is limited and available on a first come first served basis, interested party may contact the Museum at 8394 1204 during office hours, from 10 am to 6 pm (closed on Mondays), or visit Cultural Affairs Bureau website at www.icm.gov.mo or Macao Museum at www.macaumuseum.gov.mo.
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On 7 December, the Macau Red Cross received a heartwarming donation of MOP44,500.00 from the Tourism Retail and Marketing Management Year 2 students of IFT. The money was raised for the Qinghai Yushu earthquake victims. The hugely successful fundraising campaign included: “CHEERS!” Wine Charity Event – and “A Bag for Love” – a charity bag-selling event. Around 100 participants including Macao hotel industry managers, wine buffs, IFT colleagues and students as well as members from the community visited IFT’s Pousada Restaurant on 26 November, enjoying wine and generously contributing to the residents of Qinghai who are now rebuilding their homes. For the “A Bag for Love”, retail students sold environmental friendly shopping bags which were designed by them to the public around Leal Senado Square during weekends in November and December. IFT launched a new degree programme –Tourism Retail and Marketing Management two years ago, in order to cultivate future leaders in this growing industry. The fundraising campaign is a good opportunity for students to apply learnt theories from the course to an actual retailing business environment. Through presenting and selling their self-designed bags, students can benefit from not only exercising their communication and selling skills, but also enhance their customer service skills. The Tourism Retail and Marketing Management Year 2 students would like to thank the caring hearts of the Macao people who are always ready to give a helping hand to victims of natural disasters all over the world. Through the selfless donations of our community, all the profit generated from these two events has been donated to Red Cross Macao for Qinghai Yushu earthquake victims.
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From November 30 until 5p.m. of December 6, the Cross-departmental Working Team sealed three more premise suspected to provide accommodation illegally. An operator, two overstayers and one illegal immigrant were seized on site. Since the law on "Prohibition of Providing Illegal Accommodation" took effect on August 13, Macau Government Tourist Office (MGTO) has waged a total of 91 sanctions, among which two sanction proceedings have been completed and two operators who provided accommodation illegally were fined 200 000 patacas. Other cases are in different stages of sanction proceedings. Since the Cross-departmental Working Team started operations, to date, 1,129 premise-checks were conducted, involving 758 premises, of which 91 premises suspected to provide accommodation illegally were sealed, while 116 were normal residences. Ensuing investigations on the rest of the premises have been launched. Among the checked premises, some were vacant or unoccupied. Macau Government Tourist Office (MGTO) and the Public Security Police Force (PSP) will continue investigation on unanswered doors, which are suspected to be used to provide accommodation illegally. Meanwhile, during investigations to other cases, PSP has found 19 premises suspected to provide accommodation illegally and informed the Cross-departmental Working Team to handle the cases. To date, the operations involved 913 occupants, among whom 410 were occupants of premises suspected to provide accommodation illegally and were investigated, including 19 overstayers and 15 illegal immigrants. 14 operators, 13 touts, 13 persons who manage the premises that provide accommodation illegally (managing staff) and six occupants who failed to fulfill their duty of cooperation were seized on site. MGTO has begun sanction proceedings on offenders according to the law on "Prohibition of Providing Illegal Accommodation". If the two operators who provided accommodation illegally, who were fined 200 000 patacas, do not pay within the statutory period, the Financial Services Bureau will enforce the collection of fine. Meanwhile, the six occupants who failed to fulfill their duty of cooperation were fined 3 000 patacas each, among which three have paid the fine. For those who fail to pay the fine within the statutory period, MGTO has notified the Financial Services Bureau to enforce the collection of fine and informed PSP that the involved persons should pay the fine or their reentry into Macau will be denied. According to the law, operators and persons who manage the premises that provide accommodation illegally (management staff) incur a penalty of up to 800 000 patacas, touts can be fined up to 100 000 patacas, persons who fail to cooperate can be fined up to 20 000 patacas and occupants who fail to cooperate are fined 3 000 patacas. Following the raid to premises suspected to provide accommodation illegally, MGTO began sanction proceedings on involved operators, touts and managing staff, and adopted provisional measures to cut the supply of water and electricity to the concerned premises and sealed the doors. Public can also call 2833 3000 to report suspected premises.
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E-Commerce is now a dominant operation model in world trade development and creates a business environment which is not restricted by time or geographical boundaries. The application of e-commerce enables SMEs to conduct businesses with trade partners around the world and establish an extensive global partnership network. Enterprises can promote their products and businesses on the service platform provided by e-commerce operators to create more business opportunities and widen publicity for themselves. To assist SMEs to make use of E-Commerce to gain wide publicity, SME Service Centre of Macao Trade and Investment and Promotion Institute (IPIM) and Directel Macau will organize a seminar on “Managing Your Own Online Business” on 10 December 2010, 4 p.m. at Macao Business Support Centre. The seminar comprises of two sections: Directel Macau will introduce how SMEs can utilize online business be a platform to sell their products, introduction of Directel Macau webpage service and actual operations. In the experience sharing, Directel Macau user will be invited to share their experience. Through keynote presentations and experience sharing, the seminar aims to enrich SMEs’ understanding how to using the E-Commerce to promote theirs brands, products and services and gain wide publicity, thus, enhance competitiveness and create endless business opportunities. In addition, a “Memorandum Signing Ceremony” will be held concurrently by Macao Trade and Investment and Promotion Institute (IPIM) and Directel Macau with the seminar. The two sides will strengthen cooperation in the future, through information exchange, education, training and discussion forums, and through Directel Macau platform and offline promotion services to help SMEs to promote their online business in Macau. The seminar will be conducted in Cantonese (with simultaneous interpretation in English). Registration is now open to interested parties (especially enterprises from manufacturing and retail sector targeting to explore overseas market). To sign up, please contact Mr. Ho or Ms. Leong of SME Service Centre (Tel：28728212; Fax: 28 728213；Email: smec@ipim.gov.mo )。
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According to the statistics released today by the Monetary Authority of Macao, the proportion of international business in the local banking sector remained high during the third quarter of 2010. At end-September 2010, the share of international assets in total banking assets rose to 85.4% from 84.8% at end-June 2010, whereas the share of international liabilities in total banking liabilities dropped to 77.1% from 78.1%. Foreign currencies remained as the dominant denomination in international banking transactions. At end-September 2010, the shares of Pataca (MOP) in total international assets and total international liabilities were 0.4% and 1.0% respectively. Hong Kong Dollar (HKD) and Other Foreign Currencies (OFCs) accounted for 44.2% and 55.4% of total international assets as well as 51.5% and 47.4% of total international liabilities respectively. International Banking Assets
At end-September 2010, total international assets increased by 13.6% from three months earlier or 21.5% year-on-year to MOP442.0 billion (USD55.3 billion). Within this total, external assets expanded by 23.9% to MOP351.8 billion in a year while local assets in foreign currencies rose by 13.0% to MOP90.2 billion. As a major component of international assets, external loans & deposits jumped by 27.2% over a year earlier to MOP323.6 billion, mainly attributable to the 53.1% increase of loans to overseas non-bank borrowers. International Banking Liabilities
Meanwhile, total international liabilities expanded by 11.3% quarter-to-quarter or 19.0% from a year earlier to MOP399.4 billion (USD50.0 billion). Of this total, external liabilities and local liabilities in foreign currencies amounted to MOP211.8 billion and MOP187.6 billion in respective order. Compared with a year earlier, the former soared by 22.6% while the latter increased by 15.3%. Foreign currency deposits held by residents in the local banking system formed a major component of international liabilities. This type of deposits grew by 13.9% to MOP176.6 billion at end-September 2010 from MOP155.1 billion a year earlier. Breakdown of External Banking Assets and Liabilities by Region
The majority of external assets and liabilities were related to the regions of Asia and Europe. At end-September 2010, claims on Hong Kong and Mainland China occupied respectively 38.2% and 11.5% of total external assets, while claims on Portugal and the UK took up respective shares of 12.3% and 2.2%. On external liabilities, Hong Kong and China occupied 45.0% and 22.5% of the total respectively while France and Portugal took up respective shares of 9.1% and 7.2%. The compilation of International Banking Statistics follows the methodology advocated by the Bank for International Settlements in order to facilitate Macao SAR’s participation in the “Locational International Banking Statistics” project of the international organisation.
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“Macau Slow Food Awards 2010” and “Macau Slow Food Gala Dinner 2010” were held today at Institute for Tourism Studies (IFT). The event was open to public; students, lecturers and VIPs were in attendance to support this meaningful event. This event which included Cocktail Party, Award Ceremony and Gala Dinner was organized by Tourism and Event Management Year 2 students of IFT. Purpose of the event was to promote the Slow Food Philosophy – Organic food, clean producing method and fair trade to general public. Another purpose of the event was to educate public to respect traditional cooking methods and food sources; and to help them build up a healthy dining attitude. The event was first started by non-profit organization in 1989 in Italy, named the Slow Food Association. Being the highlight of the event, “Macau Slow Food Awards 2010” presented 15 awards to local restaurants, pastries, cake shops and food suppliers as recognition of their contribution on slow food culture. The 15 awards included “The Best Slow Food Western Restaurant”, “The Best Slow Food Chinese Restaurant”, “The Best Slow Food Asian Restaurant”, “The Best Slow Food Pastry/Cake Shop” and “The Best Slow Food Supplier”. The Gold, Silver, Bronze Awardees were as follow respectively: Western Restaurant: Clube Militar de Macau, Solman Restaurant, Westin Panorama; Chinese Restaurant: Long Wa Restaurant, Wong Chi Kei Congee & Noodle, Casa de Pasto Seng Cheong; Asian Restaurant : Nagoyaka Tei, Mango Tree, Hon Seng Korean Restaurant; Pastry/ Cake Shop: Goz Café, Café e Nata Margaret’s, MGM Patisserie; Food Supplier: Hop Yick Foods Company Limited, Akiyama Food Company Limited, Cheang Chong Kei Frozen Food Company Ltd. The awardees said that they would try their best to contribute to Slow Food Philosophy. Award presenters were President of Macau Slow Food Association - Dr. Baudouin Neirynck, Head of Division of Cultural Facilities – Mr. Lui Chi Pang, Director of Caritas Macau – Mr. Pun Chi Ming, Paul, General Association of Chinese Students of Macau – Mr. Iao Tin, and Head of Macao Civil Power – Ms Agnes Lam. After the Award Ceremony, the Gala Dinner was held at Educational Restaurant, IFT. All food materials were imported from China or produced locally; Also, the cooking methods of the food was in accordance to the Slow Food Philosophy and with Macanese local culture. Local singers, bands, dancers as well as magician were invited to perform at the event which makes the night as enjoyable and memorable one. In spite of this Award Ceremony, Slow Food Association Macau Section is going to be set up in Macau this year, with the mission of promoting Slow Food Culture in Macau.
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Consumer Council releases its December ‘Supermarket Price Survey Report’ and specific price survey report on rice. In comparison with November’s record, average prices of most Thai rice brands, cooking oil and dairy products have risen while that of canned food remains stable. Both survey reports show that prices of many Thai rice brands have risen from 7 per cent to over 12 per cent, average price have increase by almost 5 per cent. Prices of 13 out of 20 surveyed samples of cooking oil have risen, with the highest increase of up to 7 per cent. Prices of cooking oil remained stable in the first 3 quarters but continued to rise in the past 2 months. In comparison with November’s record, obvious price increases are noticed in dairy products this month. Milk powder, condensed milk, etc, have all risen in prices with an increase of over 11 per cent. In the current ‘Supermarket Price Survey Report’, 72 out of over 200 samples record an increase in price and 66 samples record no change in price in the last two months. Aside from rice, average prices of other commodities have been stable in the last few months. Price decreases are more likely to be found in sanitary & hygienic products. Consumer Council states that prices of most commodities tend to rise in recent months, especially for rice and cooking oil. The Council will continue to keep an eye on the current price trend and provide information to consumers for reference. The latest ‘Supermarket Price Survey Report’ is now accessible on the Council’s website (www.consumer.gov.mo) It is also available free of charge at the two offices of the Consumer Council, bookstores and libraries. Consumers may also access the resources online at the Council’s official website (http://www.consumer.gov.mo) or through WAP channels on their mobile phones. For enquiry, please call 8988 9315
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In recent years, the business model of “franchising” has grown rapidly in Macao and elsewhere. There has been a significant increase in the number of franchising business opportunities in food and beverages, retail and tourism related industries. In view of this trend, the International Tourism Research Centre, IFT is collaborating with Oxford Brookes University, UK to do a joint research on identifying factors that can help current and potential Macao franchisees to be successful in this field.. The seminar on “Successful International Franchise Partnerships” was held at IFT today and attended by more than 30 participants comprising of business men, entrepreneurs and representatives from the small business sector of Macao. In attendance were also representatives from the Macao Economic Services and the Macao Trade and Investment Promotion Institute. Two speakers of the seminar, Drs Levent Altinay and Maureen Brookes, both from Oxford Brookes University, have been involved in franchising and entrepreneurship research over a long period. They are among the foremost scholars in the area of franchising and entrepreneurship as well as service management. Altinay’s research is concerned with socio-cultural issues associated with the management of strategic alliances and has contributed to the understanding of identifying and selecting franchise partners in different country markets. Brookes’ research has focused on international market entry strategies, including franchise and alliance agreements and the design and relational issues that underpin the management of the inter-organisational forms created. Both have expertise in using mixed methods. Their research expertise and skills will be crucial in the conceptualisation of ideas, the development of research instruments and in the analysis of the findings. A third speaker of the seminar, Dr. Ruth Yeung, Assistant Professor of IFT, spoke about the current status and needs of the franchise business sector of Macao. The seminar covered introduction of franchising, types of international business format franchises, advantages and disadvantages analysis on franchising, and case studies of international successful franchising examples etc. Furthermore, the speakers shared the results of their research and hosted an in-depth discussion involving the audience in order to bring interactions to the seminar. The seminar is one of the celebration activities of IFT’s 15th Anniversary. The purpose is to promote franchising business model, and to create a platform for the franchising operators in various industries to gather ideas and exchange experiences, as a result helping franchising business development in Macao, which in turns helps to promote Macao as an international tourism city.
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