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Topic: Monetary Authority of Macau


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In the News (Tue 8 Dec 09)

  
  Economy of Macau - Wikipedia, the free encyclopedia
Macau's economy has remained one of the most open in the world since its reversion to China in 1999.
Although Macau was hit hard by the 1997-98 Asian financial crisis and the global downturn in 2001, its economy grew 10.1% in 2002, 14.2% in 2003, and 28.6% in 2004.
In the second half of the 20th century, Macau's economy was diversified with the development of light industry, the influx of migrants from mainland China to serve as a labor force, and increased tourism.
en.wikipedia.org /wiki/Economy_of_Macau   (1328 words)

  
 Macau's final days
Most of Macau’s eight million annual visitors come for the gambling, to be sure, but the colony has shown a keen determination to expand its tourism portfolio.
Macau was the site of the first western university and hospital in Asia, as well as the place where the world’s two superpowers - China and the United States - signed their first treaty.
Over half of the residents of Macau were born in China, and nearly half have lived in Macau for 15 years or less.
www.gluckman.com /macau.html   (2713 words)

  
 Macau - Economic analysis of government's policies, investment climate and political risk.
Macau residents have freedom of speech, of the press and of publication; freedom of association, of assembly, of procession and of demonstration.
Macau consists of two islands and the Macau peninsula, which is connected with China mainland at the north.
Although Macau is a part of China, it may maintain and develop relations and conclude and implement agreements with foreign states and regions and relevant international organizations in the economic, trade, financial and monetary and shipping fields, by using the name "Macao, China".
www.mkeever.com /macau.html   (3281 words)

  
 Hong Kong and Macau
Macau's status since reverting to Chinese sovereignty is defined in the Sino-Portuguese Joint Declaration (1987) and the Basic Law, Macau’s constitution.
The Monetary Authority of Macau, the de facto central bank, is committed to exchange rate stability through maintenance of the peg to the Hong Kong Dollar.
Macau's legal system is based on the rule of law and the independence of the judiciary.
www.state.gov /e/eb/ifd/2005/42057.htm   (7781 words)

  
 21st Century's Science & Technology Directory   (Site not responding. Last check: 2007-10-31)
Macau - Statistics and Census Service - A department of the Public Administration of Macau, in charge of the orientation, co-ordination, execution and control of the statistical activities in Macau.
Macau Economic Service - Responsible for assisting in drafting and implementing economic policies in the economic and intellectual property areas, as well as in other fields that it might be directed to do so by the Government of Macau.
Monetary Authority of Macau (AMCM) - The AMCM supervises monetary and financial operations and advises the SAR Government on long-term financial stability.
www.21stcentury.co.uk /directory/directory.asp?ID=Regional/Asia/Macau/Government   (584 words)

  
 Email this Item
The requirement is part of a raft of new anti-money laundering measures intended to address criticisms by the United States and international agencies of Macau's present regulations.
Macau has required casinos and junket agents to report customers suspected of attempting to launder funds since 1998 or face a potential fine of between 100,000 (HK$97,000) and 5 million patacas.
Anselmo Teng, chairman of the Monetary Authority of Macau, said in March that the review was positive, but the government has so far declined to give the IMF permission to publish its conclusions as it did after a 2002 mission.
www.urbino.net /emailLink.cfm?id=973&page=snippets.cfm   (364 words)

  
 Asia Times Online :: China News, China Business News, Taiwan and Hong Kong News and Business.
MACAU - Edmund Ho Hau Wah, chief executive of the Macau Special Administrative Region (MSAR), appealed September 17 for residents to have faith in the local financial system.
The MAM also issued a statement late Friday, calling on local residents to maintain their confidence in Macau's financial system.
The BDA, established in Macau in 1935, currently operates eight branches and four offices in the special administrative region and Delta Asia Financial Group, BDA's parent company, has subsidiaries and offices in Hong Kong, Tokyo and the Chinese city of Zhuhai.
www.atimes.com /atimes/China_Business/GI20Cb01.html   (717 words)

  
 Sample Contracts - Concession Contract - Macau Special Administrative Region and Galaxy Casino Co. Ltd. - Competitive ...
The Concessionaire must comply with applicable laws of the Macau SAR and it waives its right to apply regulations of a place other than the Macau SAR which exempt itself from performing obligations or acts that must be performed by it or that are imposed on it.
Granting of the management power of the Concessionaire, including the appointment and the scope of authority of the managing director, the term of authorization and any amendment to such authorization, especially amendments involving the temporary or definitive replacement of the managing director, shall be subject to the permission of the government.
The Concessionaire shall ensure that the properties of the Macau SAR obtained due to the operation of the conceded business and by means of the temporary transfer of the right to interest, income and use are in perfect condition or replaced in accordance with the instructions of the GICB.
contracts.onecle.com /sands/macau.svc.2002.06.26.shtml   (8306 words)

  
 Commercial
The company has to record and register as an offshore institution under the Macau SAR's Commercial Code, and the expression of "Macau Commercial Offshore" or "Macau Auxiliary Offshore" must be included into the name of the Offshore institution, in order to operate.
In addition, both residents and non-residents of Macau SAR are free to apply to operate an offshore service business in the territory.
In addition, the offshore institution¡¦s managers and specialized technicians, authorized to reside in Macau SAR, are exempted from salary tax for the first three years of their employment at the offshore institution.
www.cityguide.gov.mo /commerce/ipim2_e.htm   (543 words)

  
 CNN.com - Macau focus of push on NK activity - May 18, 2006
MACAU, China (CNN) -- The Chinese enclave of Macau is known for its gambling, sex trade and Chinese gangsters, with intrigue and shady deals long part of its landscape.
In the mid 1990s, several Zokwang officials were arrested by Macau police on suspicion of passing fake U.S. bills, some of which were traced to Banco Delta Asia.
The U.S. move and the resulting panic led the Macau authorities to take control of the bank and freeze dozens of accounts linked to North Korea worth more than $20 million.
www.cnn.com /2006/WORLD/asiapcf/05/18/nkorea.macau/index.html   (1014 words)

  
 Gamingfloor.com Archives July - December 2002 Macau
Macau received 10.46 million tourists in the first 11 months of the year.
The Macau Gaming Industry Workers' Union who represent a majority of the islands 7,000 gaming staff are in a dispute with Stanley Ho's SJM over new employment contracts.
The Macau Monetary Authority has announced that casino tax rose 19.1% to 3.44 billion patacas (US$431 million) in the first half of 2002.
www.gamingfloor.com /archive/July_December_2002_Macau.html   (376 words)

  
 Chan & Loke, Certified Public Accountants
In October 1999, the Government of Macau SAR has introduced Offshore Law with the objective to attract foreign companies to invest in their low operating cost environment.
The authorizing body for financial sector is Macau Monetary Authority (Autoridade Monetaria de Macau).
Note: In addition, non-resident managers or specialist technicians of the OI, who are authorized to reside in Macau SAR, are exempted from Macau Income Tax (similar to the Salaries Tax in Hong Kong) for the first three calendar years of their employment with the OI.
www.chanloke-cpa.com /Co_mco1.htm   (650 words)

  
 WJLA - Officials in Macau to Investigate Bank   (Site not responding. Last check: 2007-10-31)
Financial authorities in Macau said Friday they are investigating U.S. allegations that a Macau-based bank has been laundering money for North Korea.
The Macau government said in a statement that its regulator, the Monetary Authority of Macau, has set up "a special team" to investigate the bank.
The Macau bank is a unit of Delta Asia Group (Holdings) Ltd., a finance company run by Stanley Au, a Macau businessman, local lawmaker and former gold trader.
www.wjla.com /headlines/0905/260725.html   (475 words)

  
 Bloomberg.com: Asia
Macau grants residency to skilled workers who invest at least 1 million patacas ($124,876), plus 500,000 patacas in bank deposits.
Property buyers looking to sell their Macau apartments for a profit in three to five years are getting rental yields of as little as 3.5 percent because more than 30 percent of Macau's luxury apartments are vacant, said Savills's Ng.
Macau's economy grew 8.5 percent in the first quarter after expanding 28 percent to 82.7 billion patacas in 2004.
www.bloomberg.com /apps/news?pid=10000080&sid=a.Q0KbdrsNlI&refer=asia   (993 words)

  
 RFA: Macau Calls For Calm in Wake of U.S. Money-Laundering Charge
HONG KONG—The Macau government has called on its citizens to remain calm after bank customers queued into the street Friday to withdraw millions of dollars from branches of Banco Delta Asia, following allegations from the U.S. Treasury Department that it laundered money for North Korea.
Known for its freewheeling attitudes, casinos and gang violence, Macau, a tiny territory comprising just two islands and a peninsula in southern China's Pearl River delta was returned to Chinese rule in 1999.
But he said the group had transferred enough funds from its Hong Kong subsidiaries to handle the run on the bank in Macau, and pledged legal action in the United States.
www.rfa.org /english/news/2005/09/17/macau_bank   (769 words)

  
 What's on   (Site not responding. Last check: 2007-10-31)
Macau's five Tourism Ambassadors-Smiling, Polite, Friendly, Helpful and Knowledge - are teaming up with the 12 Chinese zodiacs, plus the God of Fortune and the Gods of Happiness, Prosperity, and Longevity, to greet the public and distribute Lai Si (red packets) to residents and visitors alike.
Macau Temples are mostly situated in the residential area and are very closely related to the traditional customs of the local residents.
The works vividly reflect the social evolution that Macau was experiencing at the time and records the face of the city in the 60's and 70's.
www.macautourism.gov.mo /news/whatson.phtml?lan=en&year=2006&month=1   (4216 words)

  
 Open Directory - Society: Government: Finance: Central Banks   (Site not responding. Last check: 2007-10-31)
Cayman Islands Monetary Authority - Investment services, requirements for creating a bank or insurance company, history of the currency (including the monetary divorce from Jamaica), and economic statistics.
Macau - Monetary Authority of Macau - History, goals, structure, regulatory orders for banking and insurance, economic statistics and a list of commemorative coins.
Singapore - Monetary Authority of Singapore - Directory of financial institutions, statutes and regulations, the "data room" of monetary information, and a licensing guide.
dmoz.org /Society/Government/Finance/Central_Banks   (2822 words)

  
 Cooperation Key To Stopping Money Laundering, U.S. Official Says
Macau should take the necessary course of action regarding the bulk movement of currency across the border and install a robust declaration system to monitor incoming and outgoing cash flows, Cunningham said.
We are pleased to see that Macau is making progress.  The legislation that your Legislative Assembly recently passed is an important step toward creating an effective anti-money laundering regime that will meet global standards in working to identify, disrupt, and prosecute people intent on exploiting the vulnerabilities of Macau's financial sector.
The Macau authorities have taken action to freeze North Korean accounts at BDA and have assumed managerial control of the bank.  We are working closely with the Macanese authorities to resolve our concerns about BDA, and the cooperation has been excellent. 
usinfo.state.gov /xarchives/display.html?p=washfile-english&y=2006&m=April&x=20060426173707tjkcollub0.1386377&t=livefeeds/wf-latest.html   (907 words)

  
 Template
Both buildings are in hilltops facing the Praya grande as it was a tradition in Macau for Public buildings or wealthy merchants.
Three years after the war is open as a hotel, until 1999 when become the residence for the Portuguese consul in Macau.
Following the handover of Macau Administration in 1999, the building is used as the Portuguese Consulate, busy with requirements and services for the more than 100.000 Portuguese passports holders based in Macau.
www.nishikaze.net /consulate.html   (252 words)

  
 FreeTravelers.net   (Site not responding. Last check: 2007-10-31)
Macau 1999 Handover Ceremony - Information, photos and transcripts of the 1999 return of Macau to the government of China.
Monetary and Foreign Exchange Authority of Macau - The Macanese central bank and bank supervisory authority.
Nambia - Consulate of the Republic of Namibia for Hong Kong and Macau
www.freetravelers.net /search/Macau   (459 words)

  
 Madagascar - Monetary   (Site not responding. Last check: 2007-10-31)
MONETARY AUTHORITY OF MACAU Calçada do Gaio, No. 24 to 26 Macau.
The value of a country’s currency is shaped largely by its monetary policy.
Macau, Monetary and Foreign Exchange Authority of Macau 45 Rua Pedro Nolasco
www.wildmadagascar.org /topics/Monetary.html   (570 words)

  
 Macau: Business & Economy
Murray Bailey on Macau's potential to overtake Hong Kong in attracting tourists from Mainland China (Aug. 2, 2004)
Macau Special Administrative Region of the People's Republic of China and the IMF
From Macau Trade and Investment Promotion Institute: main economic indicators; monetary indicators; imports and exports by sectors and markets; business indices of major cities in the Pearl River Delta
newton.uor.edu /Departments&Programs/AsianStudiesDept/macau-econ.html   (581 words)

  
 10th Anniversary IEEM dinner, 8 May 2006
The Institute of European Studies of Macau was founded in October 1995, starting its operation and activities in 1996.
As recognition of that role, which is also extended to Macau itself, IEEM was awarded, in a competitive binding, coordinator of NESCA, the Network of European Studies Centres in Asia, by the European Commission.
IEEM is a private association with six members: The Macau SAR Government, The University of Macau, the Polytechnic Institute of Macau, the Institute for the Promotion of Trade and Investment, the Macau Monetary Authority and the Macau Foundation.
www.ieem.org.mo /special_event/ieem_dinner/ieem_dinner.html   (422 words)

  
 WSG - Articles   (Site not responding. Last check: 2007-10-31)
Authorisation of funds by the Macau Monetary Authority (“MMA”) is necessary for funds to be distributed to the public in Macau.
Authorisation will only be granted if the investment funds have been duly authorised in their country of origin and the respective funds managers and custodians are subject to supervision by a competent home regulator.
In practice funds are usually authorised in Macau on the basis that they are already authorised by the SFC in Hong Kong.
www.worldservicesgroup.com /publicationspf.asp?id=851   (326 words)

  
 Macau Government Departments and other Social Institutions   (Site not responding. Last check: 2007-10-31)
Responsible for assisting in drafting and implementing economic policies in the economic and intellectual property areas, as well as in other fields that it might be directed to do so by the Government of Macau.
A department of the Public Administration of Macau, in charge of the orientation, co-ordination, execution and control of the statistical activities in Macau.
The AMCM supervises monetary and financial operations and advises the SAR Government on long-term financial stability.
www.olamacauguide.com /government-directory.html   (592 words)

  
 Directory of Macau Banks   (Site not responding. Last check: 2007-10-31)
There are currently 27 Macau Banks according to the Monetary Authority of Macao (AMCM), out of which 12 are locally incorporated (including the postal savings office) and 15 are branches of overseas banks.
The Monetary Authority of Macao (AMCM) was established in 1989 with the function of a quasi-central bank and the power to supervise the financial system of Macao.
Deloitte Touche Tohmatsu has had a full-services practice in Macau since 1981 to provide professional services to a wide array of clients.
www.olamacauguide.com /banks.html   (666 words)

  
 SUMMIT COMMUNICATIONS
HOUGH SMALLER than Hong Kong, Macau still has a relatively sophisticated and diverse financial system that adheres to international standards and which offers a range of modern banking products, through a variety of state-of-the-art delivery channels.
NU has another major competitive advantage in its unique history in Macau: as a Portuguese institution it served as the colony’s note issuer throughout the twentieth century.
As both a commercial and issuing bank, it has strongly contributed to the economic and social development of Macau over the past century, and has established a prized reputation.
www.summitreports.com /macau/banking.htm   (948 words)

  
 Bobsguide - MONETARY AUTHORITY OF MACAU OVERHAULS BUSINESS PROCESSES WITH FINANCIAL OBJECTS' ACTIVEBANK²
London, 11 February, 2003 - Financial Objects, a leading supplier of advanced technology banking software and services, today announced that the Monetary Authority of Macau (AMCM), central bank of the Chinese Special Administrative Region of Macau, has selected component-based activebank² to support its banking operations.
The solution will be rolled out in AMCM's corporate headquarters and business groups across the organization in 2003.
The Monetary Authority of Macau's decision to implement activebank² reflects
www.bobsguide.com /guide/news/2509.html   (319 words)

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