News

According to the monitoring data of Gamma Radiation recorded for the past 24 hours (1st June 10:01 till 2nd June 10:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1178 and 0.1300μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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On the complaints lodged by 822 bank customers on 17 March this year relating to compulsory squaring of open position under margined FX contracts, the Monetary Authority of Macao (AMCM) has rolled out a series of investigations according to current policy statement in handling complaints (http://www.amcm.gov.mo/pledge/cPledge.htm). We have conducted 5 meetings with all the complainants with a view to hearing their complaints and reporting interim progress. AMCM has completed the initial investigation and will proceed to more detailed investigations on a case-by-case basis. Our initial findings are as follows: 1. The bank involved squared the open positions in accordance with the related provisions of the margined FX transaction contracts executed between the bank and its clients. The complainants executed the relevant contracts at the time when an account for margined FX trading was established, which included a clause whereby the bank was authorized to square any open FX positions unilaterally. 2. Discrepancies were identified in the notifications to clients in respect of the time of position squaring and actual time when the action took place. In this connection, AMCM has requested the bank to rectify, whilst the bank has issued written elucidations to customers in this respect between 24 March and 26 May. 3. The complaints mainly involved disputes over the compulsory squaring clause in the margin FX trading contract and the service hours of the bank. Such issues are contractual in nature, which are beyond the authority of AMCM. As at 30 May, AMCM received 201 complaints relating to the incident, involving 1119 FX transactions. AMCM will pursue closely each and every individual case and will not fail to notify the results in writing to each complainant. Again, AMCM would like to remind the general public that the FX market is highly volatile and tumultuous. There are high risks involved. Extra prudence should be exercised in FX investments and margined FX tradings.
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To further facilitate the collaboration of products brands from Guangdong and Macao, the "2011 Guangdong & Macao Branded Products Fair", co-organized by Macao Trade and Investment Institute (IPIM) and Department of Foreign Trade and Economic Cooperation of Guangdong Province and facilitated by Macau Fair & Trade Association, will be held from July 28th to 31st at Macao Fisherman's Wharf Convention and Exhibition Centre. Focus on Contributions of Convention and Exhibition Business to Service Industries under Cooperation Framework
Continuing the legacy of trade cooperation between Guangdong and Macao, the upcoming Fair reflects the efforts undertaken by IPIM and Department of Foreign Trade and Economic Cooperation of Guangdong Province to implement and strengthen business collaboration between the two regions and is one of the measures to enhance Macao's economic diversification appropriately. Based on the "Strengthening the Comprehensive Strategic Cooperation Agreement "signed by its two organizers in March 2009, the Fair has been held in Macao for three consecutive years. To tie in with the "Guangdong-Macao Cooperation Framework Agreement", this year the Fair will further highlight the importance of trade cooperation between Guangdong and Macao and its actual implementation. Building on its success gained from the past two years, the "2011 Guangdong & Macao Branded Products Fair" will foster closer cooperation and exchanges between enterprises from the two territories. Through product displays and promotion, business matching, purchasing negotiations and product recommendations, the event will serve as a platform for branded products and enterprises of the two regions, where product visibility can be enhanced, markets can be opened up and further invigorated through sales on a mutual basis and greater access to overseas and domestic markets can be developed, in order to provide Macao citizens with a broader range of branded products. Guangdong's branded products brought together under the same roof for joint developments The Fair's exhibition area is around 6,000 square metres this year. Work is currently underway in Guangdong and Macao to solicit the participation of potential exhibitors, especially with regard to organizing and coordinating the exhibitors of branded products from the two territories. Active measures have been undertaken by the Department of Foreign Trade and Economic Cooperation of Guangdong Province to facilitate participation of branded products and enterprises in the Fair, through mobilizing its network of foreign trade departments in different provinces and cities. As of now, more than 150 enterprises from 20 cities have already registered for participation. Many of them are top-tier brands and enterprises, representing special products, foods, daily-use items, electronic products, handcraft products and others. 43 of these enterprises have been awarded titles including "Well-known Products of China" and "Branded Products of Guangdong Province." 26 trademarks have been awarded the titles of "Famous Trademark in China" and "Guangdong's Famous Brands". To ensure the products showcased in the Fair cater to Macao's market needs as well as its quality and output requirements, efforts are currently made by Guangdong provincial authorities to coordinate and screen the enterprises for participation in this event. Local enterprises eligible to exhibition subsidy As in the past, the "2011 Guangdong & Macao Branded Products Fair" organizers have set up a Subsidy Scheme to encourage participation of enterprises in the event. The Scheme is targeted at eligible exhibitors with Manufactured in Macao, Macao brands and Overseas products with agent in Macao. Eligible enterprises only need to pay HK$2,800, as 60% of the full exhibition fee is covered by the subsidy provided. Recruitment for exhibitors for the Fair will begin tomorrow (June 2) until June 16, with the aim of encouraging Macao enterprises to participate and take advantage of this platform for business development. With limited booths, it is on first come first served basis and is subject to availability. Note:
Products "Manufactured in Macao"
· Products "Manufactured in Macao" and exported from Macao, participating exhibitors have to provide Certificate of Origin issued by Macao Economic Services.
· Products "Manufactured in Macao" and sold in Macao, participating exhibitors have to provide Approval of Industry issued by Macao Economic Services.
Products "Macao brand"
· Products "Macao brand", participating exhibitors have to provide Trademark Registration issued by Macao Economic Services or related supporting document(s). Products "with agent in Macao"
· Participating exhibitors have to provide Agent Authorization of the products or related supporting document(s). Plethora of onsite events held to enrich the Fair's appeal At the "2001 Guangdong & Macao Branded Products Fair", trade activities such as purchasing negotiations sessions, product seminars and business matching will be held. To strengthen business matching between professional business clients and exhibitors, renowned Guangdong emporiums and supermarket groups will be invited to Macao, where purchasing seminars and business matching will be conducted to facilitate exchanges and interfacing between retail/ purchasing enterprises of Guangdong and Macao. In addition, international and domestic chambers of commerce and delegations will be invited to carry out purchasing negotiations to help optimize the functions of Macao's business services platform. Throughout the fair's duration, display panels and exhibitions of selected brands and products will be set up at "city galleries for special products" in the various provinces and cities of Guangdong. Furthermore, discussion seminars will be held and visitors to the Fair will be introduced to the local investment and business environment. Also, recommendations of Macao's branded products will be made to business visitors from various countries. These business clients will be taken to visit the recently-opened "Macao Ideas", a display centre for Macao products, and the promotional platform provided by the Fair will be leveraged on to publicize Macao-made products, Macao brands, Macao-designed products and products of Portuguese-speaking countries distributed by their agents in Macao. In order to attract more local citizens and tourists to the Fair, the organizers will be staging cultural performances, with plans to invite Hong Kong and Macao singers and artistes, along with several arts groups, to entertain visitors. During the Fair period, lucky draw activities will also be held to distribute spending coupons to citizens and tourists, with the view of presenting them with a colorful summer carnival event. For further information on the "2011 Guangdong & Macao Branded Products Fair", please call the event's hotline at 853- 8798 9605 or visit its official website, www.guangdongmacaofair.com.
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (31st May 16:01 till 1st June 16:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1178 and 0.1300μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (31st May 10:01 till 1st June 10:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1178 and 0.1326μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (30th May 16:01 till 31st May 16:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1160 and 0.1326μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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Information from the Statistics and Census Service (DSEC) indicated that the value of total merchandise export for April 2011 amounted to MOP590 million, down by 14.4% year-on-year, of which value of re-exports (MOP409 million) and domestic exports (MOP181 million) decreased by 18.6% and 3.4% respectively. Value of exports of Knitted or crocheted garment dropped by 23.5% year-on-year, while that of Tobacco & wine increased by 40.6%. Value of total merchandise import amounted to MOP4.36 billion in April 2011, up by 25.2% year-on-year. Value of imports of Capital goods surged by 75.7%, of which imports of Mobile phones soared continuously by 84.7%. Merchandise trade deficit amounted to MOP3.77 billion in April 2011. In the first four months of 2011, total value of merchandise export decreased by 11.8% year-on-year to MOP2.22 billion, of which value of re-exports and domestic exports declined by 16.6% and 0.4% respectively; meanwhile, total value of merchandise import rose by 31.8% to MOP17.55 billion. Merchandise trade deficit for the first four months of 2011 widened by 42.0% to MOP15.33 billion; the exports/imports ratio dropped by 6.3 percentage points year-on-year to 12.6%. Value of merchandise export to Hong Kong (MOP964 million), Mainland China (MOP368 million) and the USA (MOP193 million) in the first four months of 2011 decreased by 18.9%, 4.3% and 27.5% respectively year-on-year; however, exports to the EU (MOP129 million) increased by 1.2%. Exports of Jewellery (MOP133 million) and Clocks & watches (MOP110 million) decreased by 68.0% and 27.2% respectively, but that of Tobacco & wine (MOP181 million) grew by 57.0%; meanwhile, exports of Textile & garment declined by 11.4% to MOP455 million. In the first four months of 2011, value of merchandise import from Mainland China (MOP5.33 billion) and the EU (MOP4.50 billion) expanded by 29.9% and 56.1% respectively year-on-year. Imports of Consumer goods soared by 31.0% to MOP10.53 billion, of which imports of Food & beverages (MOP2.66 billion), Gold jewellery (MOP1.29 billion) and Handbags & wallets (MOP933 million) increased by 35.5%, 24.9% and 106.7% respectively. Moreover, imports of Capital goods (MOP3.25 billion) registered year-on-year increase of 71.8%. In the first four months of 2011, total value of merchandise import and export amounted to MOP19.77 billion, up by 24.9% compared with MOP15.83 billion a year earlier.
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According to the monitoring data of Gamma Radiation recorded for the past 24 hours (30th May 10:01 till 31st May 10:00) by the Taipa Grande Station of the Macao Meteorological Bureau, the Gamma-ray absorbed dose rate per minute ranges between 0.1160 and 0.1291μGy/h (micro Gray / hour) which is far more below the warning level of 0.35μGy/h. The Macao Meteorological Bureau will continue to pay close attention to the radiation level in Macao. If any abnormalities being discovered, we will release related message to the public immediately and inform relevant government departments to adopt relative contingency measures.
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With the objective to promote Macau's business tourism industry and to capture the European market's attention to bring their events to Macau, a delegation of Macau trade representatives joined the Macau Business Tourism Centre of Macau Government Tourist Office to exhibit at the 9th worldwide exhibition for incentive travel, meetings & events (IMEX 2011) at Messe Frankfurt in Germany from 24th to 26th May. IMEX is one of Europe's most important congress and conference trade shows. Last year, IMEX 2010 successfully attracted 3,500 exhibitors from more than 157 countries, with over 3,800 hosted buyers from more than 60 world markets and 5,000 visitors from 90 countries attended the show. The organizer expected that participant numbers of IMEX 2011 would exceed its previous version. During the event, MGTO organized a "Macau Welcome Reception" at the Macau promotional booth on 25th May, which provided further opportunities to hosted buyers attending IMEX to network and to establish business contacts with Macau representatives apart from group appointments and individual pre-scheduled appointments. In addition, a fair number of visitors approached the Macau promotional booth for product updates and inquiry about organizing conferences, exhibitions and incentive events in Macau.
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Information from the Statistics and Census Service (DSEC) indicated that a total of 267 MICE (Meetings, Incentives, Conventions & Exhibitions) events were held in the first quarter of 2011, a decrease of 64 year-on-year; total number of participants and attendees increased by 42% year-on-year to 127,194. However, the average duration decreased by 0.4 day in the first quarter of 2010 to 2.1 days. A total of 10 exhibitions were held in the first quarter of 2011, with 99,154 attendees and an average duration of 2.5 days. Meanwhile, 257 meetings & conferences were held, bringing together 28,040 participants and the average duration was 2.1 days. As regards subject of MICE events, the majority focused on Commerce, Trade & Management (119), IT & Other Technology (42) and Travel & Tourism (24). Analyzed by type, most of the events were Corporate Meetings (174), Government Meetings (29) and Association Meetings (28). There were 214 MICE events held in hotels, comprising 206 meetings & conferences and 8 exhibitions. The average duration decreased from 3.1 days in the first quarter of 2010 to 2.4 days; number of participants and attendees totalled 121,900, with 80% being exhibition attendees. In addition, 53 MICE events were held in convention & exhibition centres and other conference venues; the average duration stood at 1.1 days, bringing in 5,294 participants and attendees. Starting from 2011, coverage of MICE statistics is expanded to include exhibition organizers and exhibitors. In the first quarter of 2011, data were collected from 8 exhibition organizers (80% of total); concurrently, systematic sampling method was adopted to collect data from 51 exhibitors. According to the information collected, the majority (63%) of the exhibition organizers were local enterprises and 25% were from Hong Kong. Moreover, 88% of the organizers had experience of organizing exhibitions in Macao. In the first quarter of 2011, total revenue of the exhibition organizers amounted to MOP2,100,142 and total expenditure was MOP3,200,077. In respect to the interviewed exhibitors, 49% were exhibitors from Hong Kong and 31% were local exhibitors. Besides, 55% of the exhibitors were first time participants in Macao. Total revenue of the exhibitors amounted to MOP3,136,320 that came mainly from sales of products (87%); total expenditure was MOP1,141,261, with rental for exhibition booth accounting for 74%.
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