FOUNDER & PUBLISHER Kowie Geldenhuys EDITOR-IN-CHIEF Paulo Coutinho www.macaudailytimes.com.mo

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PEREIRA COUTINHO ACCUSES AL’S FIRST MGM CONCLUDES MOODY’S CONFIRMS ’S COMMITTEE LED BY OF AA3 RATING BUT CONSIDERS FAILING TO ENACT THE LONG-OVERDUE UNPRECEDENTED MACAU-LISTING DOWNGRADING IF AND WHEN CONSUMER RIGHT PROTECTION LAW OF USD750 MILLION SENIOR NOTES TIGHTENS ACCESS TO GAMING P4 P6 P2 AP PHOTO

Hong Kong The stock exchange halted trading of Next Digital shares yesterday at the media company’s MOREXINHUA AUSTERITY request after authorities froze assets belonging to its founder Jimmy Lai, who has been a high-profile voice in the the territory’s pro-democracy movement. Ho Iat Seng says Later in the day, the media tycoon and nine other pro- democracy activists pleaded gov’t spending to see guilty to taking part in an unlawful assembly in 2019. Lai is already serving a 14-month continuous cut in 2022 P2 sentence for his role in two other unauthorized assemblies. More on p10 AP PHOTO

Afghanistan A three-day cease-fire marked by violent attacks — most claimed by the Islamic State group — has ended in Afghanistan amid calls for renewed peace talks between the government and Taliban. Taliban political spokesman Suhail Shaheen said the negotiating teams of the government and the Islamic Emirate, as the Taliban refer to their ousted regime, met briefly in the Middle Eastern State of Qatar. They renewed their commitment to finding a peaceful end to the war and called for an early start to talks that have been stalled, he said. AP PHOTO

New Zealand Samoa appeared set to get its first woman leader after the nation’s top court yesterday reinstated the Lawmakers results of a knife-edge election last month. Two urge Gov’t to decisions by the Supreme Court have paved the way launch central for Fiame Naomi Mata’afa to become prime minister of the small island nation. procurement Her ascent is a milestone for the South Pacific, database which has had few female leaders. Samoa and its to stem neighbors tend to be Taiwan closes borders Christian and traditional. corruption – again P3 More on backpage P4 page 2 www.macaudailytimes.com.mo MACAU 澳門 18.05.2021 tue

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Real estate ECONOMY transactions at MOP10.52b Moody’s: Growth volatility A total of 1,987 building units and parking spaces were bought and sold in the first of Macau among the highest quarter of 2021 according to Stamp Duty records, LYNZY VALLES ference from the sovereign rating and the total value of the reflects the high composition of a transactions was MOP10.52 OODY’S Investors Service single industry in overall revenues, BLOOMBERG billion, down by 16.1% and Mconfirmed the Macau SAR’s offset by strong institutional and 22.4% respectively quarter- local and foreign currency issuer policy capacities and a “very strong on-quarter. According to rating at Aa3, and maintained a external position.” data provided by Statistics stable outlook. Meanwhile, concerning factors and Census Service (DSEC), In a statement, the rating agen- that could lead to an upgrade of the the purchase and sale of cy noted that despite the collapse ratings, Moody’s would consider residential units decreased in tourist arrivals resulting in a pre- upgrading the rating if there were by 320 quarter-on-quarter cipitous fall in gaming revenues, evidence that the government’s di- to 1,310 units, and the Macau’s fiscal and external buffers versification plans were delivering total value fell by 26.5% to have allowed it to deploy signifi- stronger and more durably stable MOP8.47 billion. The number cant stimulus measures over the economic growth than the rating of existing residential units course of the past year. Total fiscal agency currently projects. That transacted (1,179) dropped stimulus amounted to MOP52.6 could stem from material and sus- by 13.4% and the transacted billion, or 27% of gross domestic tained progress on initiatives that value (MOP7.37 billion) fell by support growth in non-gaming 16.1%. product (GDP) in 2020, and a fur- using the sum to supplement its cau’s vast fiscal and external re- ther 12% of GDP in 2021, as fore- capital revenues. serves - significantly stronger than tourism offerings and further bui- cast by Moody’s. In 2021, the SAR has budgeted a those of similarly rated peers - and lds Macau’s resilience to shocks, Orchestra to These measures have limited continued drawdown in reserves of very high per capita incomes con- said the agency. hold 13 programs the impact of the slump in econo- MOP35.7 billion, or 15.1% of GDP tinue to support its credit profile,” However, Moody’s would con- over summer mic activity on domestic demand. according to the Moody’s estimate. it added. sider downgrading the rating if The collapse in gaming reve- “The growth volatility of Macau’s The stable outlook reflects Moo- Macau endured a prolonged eco- From June to July, the Macao nues resulted in real GDP falling economy is among the highest of dy’s expectations that economic nomic downturn beyond current Orchestra (OM) will hold a over 56% year-on-year in 2020. all rated sovereigns. While efforts to activity will likely be restored to baseline expectations, and if that series of 13 programs entitled Meanwhile, fiscal measures and diversify growth away from the ga- pre-pandemic levels by 2024, spur- downturn led to a significant and “SUMMER BRAVO!”, including the fall in revenues resulted in the ming industry have been ongoing red by a recovery in the gaming lasting erosion of fiscal and exter- large-scale concerts, fiscal surplus falling from 12.6% since 2015-16, Moody’s does not sector, and that the impact on the nal buffers due, in part, to an ine- community performances and of GDP in 2019 to 1.7% of GDP in expect them to yield material re- labor market, while severe, will not ffective policy response. “Measures various outreach activities. 2020. In order to finance the stimu- sults over the near-term,” the insti- be permanent. by China that significantly tighten The “2020-21 Season Closing lus, the government also dipped tution said. According to Moody’s, Macau’s access to gaming for its citizens Concert - Haochen Zhang could be the trigger for such a sho- and the Macao Orchestra” will into its fiscal reserves, drawing “But despite the highly volatile local-currency country ceilings re- be held on July 31 at 8 p.m. down MOP47 billion in 2020 and nature of economic growth, Ma- main at Aaa. The three-grade dif- ck,” it added. at the Macao Cultural Centre Grand Auditorium. Due to the pandemic, Italian soprano Maria Agresta and tenor Marco Berti will not be able to travel to Macau, and therefore BUDGET the program of the concert has been modified. The concert will be conducted by Further cuts to gov’t spending in 2022 OM’s Musical Director, Lu Jia, and will feature young pianist LYNZY VALLES make a prudent evalua- the SAR government’s Haochen Zhang, winner of the tion of all types of budget common income. They 13th Van Cliburn International HE Chief Executive expenditure for next year. include the office of Chief Piano Competition. THo Iat Seng has an- For departments and Executive and the offices

nounced that the SAR go- MARQUES RENATO organizations applying of the secretaries, totaling vernment will continue to ARTmusing Summer cash accounting poli- over 45 departments. retrench public spending cies, the total common In April, the Legislati- Workshops open next year, given the uncer- expenses of the central ve Assembly (AL) appro- tainty of the city’s econo- Conceiving a set of budget should not exceed ved the addition of some workshops aimed at various mic situation. 90% of the 2020 figure. MOP9.11 billion from the ages and interests, this According to the top In accordance with the fiscal reserves for the eco- year’s ARTmusing Summer official, the budgets for se- provisions of Macau law, nomic support plan as Workshops includes a series veral departments in 2022 non-autonomous depart- well as MOP483 million for of more than 80 intensive will not exceed the budgets ments, departments with the budget of the Macao workshops, with over 230 this year. administrative autonomy, Foundation. sessions to be held from July Last year, Ho made a and autonomous depart- Initially, the AL to August. Pre-registration 2021 budget cut because ments are subject to the approved the 2021 bud- for all upcoming sessions will of the impact of Covid-19. they should nevertheless The decree states that amid 10% mandatory reduction. get, which will allocate be open from today until May The Chief Executive cut 10% of the recurrent changes in the economic Non-autonomous depart- MOP26.6 billion from 24 at CCM’s box office and has issued a directive that expenditure in 2020 from environment, all public ments are departments the financial reserve to at Macao Ticketing Network if some departments fail their budgets in 2022, as ci- government departments without revenue, and all redress the deficit for website and outlets. to meet the requirement, ted in a TDM Radio report. and organizations must expenditures are paid by public administration.

www.macaudailytimes.com.mo DIRECTOR & EDITOR-IN-CHIEF_Paulo Coutinho [email protected] A MACAU TIMES PUBLICATIONS LTD PUBLICATION ASSISTANT EDITOR_Lynzy Valles SENIOR WRITER_Honey Tsang CONTRIBUTING EDITORS_Leanda Lee, Severo Portela, Sheyla Zandonai ADMINISTRATOR & CHIEF EXECUTIVE OFFICER Kowie Geldenhuys [email protected] NEWSROOM AND CONTRIBUTORS_Albano Martins, Annabel Jackson, Anthony Lam, Emilie Tran, Irene OFFICE MANAGER Juliana Cheang [email protected] REACHING OUT! Sam, Ivo Carneiro de Sousa, Jacky I.F. Cheong, Jenny Lao-Phillips, João Palla Martins, Joseph Cheung, ADDRESS Av. da Praia Grande, 599, Edif. Comercial Rodrigues, 12 Floor C, Juliet Risdon, Linda Kennedy, Paulo Cordeiro de Sousa, Renato Marques, Richard Whitfield, Viviana Seguí MACAU SAR Telephones: +853 287 160 81/2 Fax: +853 287 160 84 DESIGNERS_Eva Bucho, Miguel Bandeira | ASSOCIATE CONTRIBUTORS_JML Property, MdME Lawyers, Advertisement [email protected] +20,500 PokerStars, Ruan Du Toit Bester | NEWS AGENCIES_ Associated Press, Bloomberg, MacauHub, MacauNews, Xinhua For subscription and general issues: [email protected] | Printed at Welfare Printing Ltd Like us on facebook.com/mdtimes SECRETARY_Yang Dongxiao [email protected] send newsworthy information and press releases to: [email protected] website: www.macaudailytimes.com.mo www.macaudailytimes.com.mo page 3 tue 18.05.2021 澳門 MACAU

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COVID-19 Gov’t encourages MEHMET TURGUT vaccination with PCR waiver ANTHONY LAM In contrast, athletes partici- pating in the upcoming Macao OLLOWING hints last International Dragon Boat races week of a new policy for will be subject to updated require- boosting the local Co- ments. Under the new policy, tho- vid-19 immunization rate, se athletes who have received two FDr Leong Iek Hou of the Centre for injections 14 days prior to their Disease Control and Prevention race days will not need to take the announced yesterday that certain swab test. individuals who have completed Other athletes will need to take both vaccinations will be exemp- the swab test and receive a negati- ted from the regular and the spe- ve result in order to qualify for the cial swab test. race. She stressed that the waiver will The new policy will also apply not apply to cross-border travel. on occasions such as group festive According to local Covid-19 celebrations, entertainment and control guidelines, individuals at- leisure events, marches, as well as tending certain events or working dinner receptions organized by an in particular professions are re- association hosting 400 people or For example, athletes running are 9 a.m. to 5 p.m. every day. The sitive entrants with travel history quired to take a regular swab test more. in the 10K champion were catered Sinopharm inactivated vaccine will in India, Pakistan, the Philippines, or a special swab test prior to at- Private occasions, such as we- to with grouped swab tests, in whi- be provided. There is a daily quota Nepal and Brazil will face 35 days of tending the event. dding and birthday banquets, are ch a specified period was available of 2,000 injections. quarantine upon arrival. For example, performers at not subject to the requirement: as for them to take the test. Leong an- Vaccination recipients aged 60 shows where mask wearing and is currently the case, participants nounced yesterday that from July years and over will then have the VACCINATION POINTS TO social distancing of two meters at such events will not be required 18, these arrangements will no lon- choice to get inoculated at the new BE RUN AT SANDS, MGM are impossible are required to to take swab test. ger be made. station, at government health cen- Leong revealed yesterday that take a Covid-19 swab test prior to Besides not applying to cross- From then on, participants at ters or the government hospital. the government will run off-site the commencement of the show. -border travel, the new swab test large events where swab tests are Reacting to the latest infection vaccination services at two of the That does not apply solely to waiver will not apply to indivi- needed will take the test at their recorded in Macau, which concer- six local gambling concessionaires’ performers, though. Another duals working in the chilled food own expense. ns a returnee from Nepal, the heal- properties, namely the MGM and scenario is sports events, such handling industry. The major community vaccina- th system is intensifying measures the Sands China. as the recent Sands China Ma- In another move designed to tion station located at the Macao for incomers with positive antibo- On May 24 and 25, inoculation cao International 10K running encourage vaccination uptake, in Forum, which was also hinted at dy test results. points will operate at the MGM; and championship, at which athletes two months the government will last week, will be launched on May Seven days will be added to the from May 31 to June 3 at the Sands. were required to receive a negati- cancel arrangements for unified 20. Bookings are available from to- original quarantine period should However, the government did ve swab test result as part of their or grouped swab tests for partici- day. they test positive for SARS-CoV-2 not disclose at which property the qualification. pants joining large events. The station’s operating hours antibodies. As such, antibody-po- vaccination services will operate.

Taiwan closes borders to foreigners and transit passengers

ANTHONY LAM rent conditions, allowed to Chan Iok Wai, Chief of the in June or July. reenter Taiwan after their Student Department of the Meanwhile, Lau Fong N an effort to better con- holiday, since they should Education and Youth Affairs Chi, Chief of the Depart- Itrol the current wave of possess a residence card is- Bureau (DSEDJ), stated that ment of Communications infections, Taiwan will clo- MARKUS WINKLER sued by the Taiwanese au- the government was paying and External Relations of the se its borders to foreigners thorities. close attention to the situa- Macao Government Tou- and transit passengers Nonetheless, Macau stu- tion. rism Office, admitted that from tomorrow, its Central dents studying in other parts He said that several bu- because the announcement Epidemic Command Cen- of the world, such as Europe reaus were in close com- came at such short notice, ter (CECC) announced yes- and the Americas, may feel munication to manage the the office was still negotia- terday. the impact to a greater de- effects of the policy. “We are ting with other local depart- After the measure takes gree, as many of them had discussing if there are any ments. effect, only Taiwanese citi- planned to transit through other means by which they Taiwan only announced zens and legal residents will Taipei. can return,” Chan said. the policy early yesterday af- be allowed to enter Taiwan. The new policy will also ternoon. For the time being, the have an impact on Macane- 914 INDIVIDUALS Moreover, Lau reminded ban is expected to last one will still need to comply implemented from January se who need to travel outsi- WISHING TO RETURN local members of the public month from May 19 to with travel and immigra- 1 to February 28 this year. de the Greater China Region, From last weekend to to reconsider their need to June 18. tion control measures. such as individuals who yesterday, 914 individuals “conduct tourism abroad or Foreigners who need to The CECC has previou- MACAU GOV’T CLOSELY need to conduct business in expressed their intentions leave Macau for [other pla- enter Taiwan for emergen- sly implemented a similar MONITORING EFFECT Europe or the Americas. in a DSEDJ survey to return ces].” cy or humanitarian reasons policy attempting to con- As the summer holidays Questions on Macau’s to Macau between May and If the need for arises, she may apply for an exemp- trol the spread of several approach and Macau stu- response on the situation September. Of these, 690 are recommended these poten- tion prior to their departure mutated strains of SARS- dents studying in Taiwan were raised at the weekly Macau students currently tial travelers to note flight for the island. Even with an -CoV-2 to the island. The may wish to return to Ma- health press conference yes- studying in Taiwan – about schedules and government entry permit, the individual last such suspension was cau, they will be, under cur- terday. 500 of which plan to return travel advice. page 4 www.macaudailytimes.com.mo MACAU 澳門 18.05.2021 tue

MACAU’S LEADING NEWSPAPER

can be seemingly tailor-made for one particular company to be Public centralized procurement awarded the tender. A consolidated platform for the public to have easy access to the database to combat corruption procurement data has long been common practice in many deve- HONEY TSANG loped countries and regions. It is a solution to corruption in procure- N yesterday’s meeting at the Le- ment regimes, he explained. Igislative Assembly (AL), several echoes Coutinho’s lawmakers urged the government remarks, stressing that merely in- to accelerate the planning of a creasing the threshold amount for centralized database — a platform each procurement cannot help offering public access to all de- facilitate a more equitable mecha- tails of government procurement nism. processes such as tender require- “Given the fact that Macau has ments and bidders — to combat experienced a paradigm shift in corruption. its economic and societal deve- Following a heated discussion lopment over the past decades, at AL during which lawmakers like this underscores that the Law was José Maria Pereira Coutinho, Sulu very outmoded — which has been Sou, Au Kam San, denounced the easily come to be a hotbed of cor- long-standing pitfalls in the cur- ruption,” Sou remarked. rent procurement mechanism, The idea of establishing a pu- the proposed amendments to Law blic centralized procurement da- No. 122/84/M — “Regulations of tabase was first floated in the Po- Government Procurement” were licy Address in 2018. Nonetheless, finally passed yesterday at the AL. “the proposition has still under its The controversial Law No. planning stage,” Sou said. 122/84/M came into force in 1985. In response, Secretary for Eco- It was amended only once, in 1989, nomy and Finance Lei Wai Nong with an increase in the threshold promised that the government of the procurement amount. The would work to submit a proposal government had not made any for an overarching reform to the modifications to the regime in the procurement mechanism to the past 32 years. AL in 2022, which will help usher Considering that the regime in a new and improved regime. fails to meet present-day requi- “Shortly after this amended rements, on January 13, 2021 the [bill] comes into force, we will dra- SAR government submitted to the nment focuses on modifying the ment mechanism. They still fail to to creating more open, fair and ft a regulatory document to stipu- AL a series of draft amendmen- threshold amount in each procu- meet public requests to launch a transparent conditions for com- late systemized guidelines of the ts to the regime. The proposed rement — which is to increase the centralized platform offering open petition between prospective bid- release of procurement data for changes were later passed by the sums across all tender categories data of tenders,” Coutinho said. ders, Coutinho urged. all government departments to AL on February 2, with 25 votes in to six times the original amounts. Such an integrated platform He emphasized that favoritism follow. In addition, we’re planning favor, four against, and 2 absten- However, “those amendments incorporating all the procurement and injustice in procurements to establish a public and centrali- tions. are [inadequate to help promote] processes across government have always been seen, for exam- zed platform for the relevant in- At the initial stage, the gover- the transparency of the procure- departments will be conducive ple in the way that preconditions formation.”

could the committee give view process for the Con- local citizens an explana- sumer Right Protection Standing Committee labels Coutinho’s tion [for the delay]?” he Law is close to being wra- questioned. pped up. The committee Coutinho also urged the is now awaiting the final accusations ‘unfair, exaggerated’ government to use the pu- amendment document blic fund to compensate from the government. HONEY TSANG the effected victims becau- Another member of se of the legislative delay. the committee Ip Sio Kai WO members of the Following Coutinho’s also expressed his disa- TFirst Standing Com- blunt criticism, the chair- greement with Coutinho’s

mittee of the Legislative MARQUES RENATO man of the First Standing claims. He repudiated his Assembly responded to committee Ho Ion Sang re- remarks as “exaggerated, José Maria Pereira Cou- butted Coutinho’s remarks, misinterpreted and groun- tinho’s denunciation at condemning his claims as dless accusations.” yesterday’s session, at whi- “unfair” to all committee In response to the recri- ch Coutinho accused the members, who have been minations aimed at him, committee of dragging its toiling to implement the Coutinho clarified that he feet in failing to enact the Consumer Protection Law. did not intend to point the long-overdue Consumer So far, the Committee finger at the committee. He Protection Law. has convened as many as just wanted to point out the Coutinho’s remarks 16 meetings with the au- fact that the government came amidst a widely-pu- thorities to “repeatedly should finalize the long-o- blicizedpublicized con- discuss the legislation,” Ho verdue legislation process sumer dispute, in which a said. as soon as possible. closed yoga studio decli- “However, Coutinho has Following the heated ned to return pre-paid tui- never attended any one of exchanges, Kou Hoi In, tion fees to customers. The these meetings to help exa- president of the AL, in- total financial losses in the mine the draft bills. He has terjected, remarking that case are expected to reach minent role in safeguar- “However, the propo- ring’ process by the First not made any contribution Coutinho’s speeches were MOP5 million. ding local consumer rights sed Consumer Protection Standing Committee and in such endeavor,” Ho ad- “accusatory,” and deman- “The comprehensive le- in conflicts like this case,” Law is still [going through] running far behind time ded. ding that he consider revi- gal framework plays a pree- Coutinho stressed. the ‘slow-cooked simme- for its introduction. How Ho revealed that the re- sing his views. www.macaudailytimes.com.mo page 5 tue 18.05.2021 ADVERTORIAL

MACAU’S LEADING NEWSPAPER

Tech-savvy SME a Stand-Out Sands Supplier AST year, as Macao was of creative and diverse activities. procurement and supply chain more than 500 exhibitors and time for us to work with a glo- making strides in getting Founded in 2014 by two ve- for Sands China remarked, “The Sands China. bal company on a large-scale the Covid-19 epidemic terans from the MICE industry, challenges included the short The SME also did a good carnival event. As the organizer, under control, Sands MACEXPO had initially focused 3-month preparation time and job in event preparation and Sands China did not impose LChina made an effort to boost on wedding exhibitions. Later the need to balance the effects follow-up, according to Sands one-way requests, but facilita- the local economy with the very it extended into the Play Hub the epidemic prevention mea- China. “Before the fair began, ted interaction between us. The successful Sands Shopping Car- Expo showcasing trendy big boy sures would have on the event. MACEXPO had invested and de- Sands China team also provided nival. Featuring 518 booths and toys, sports, gadgets, games and It was important and necessary veloped its own technologically comprehensive support and offering fabulous deals to Ma- foods, in an attempt to bring di- to ensure strict compliance enhanced exhibition manage- resources, such as assisting in cao residents and tourists, the versified events to Macao. The with the government’s epide- ment system for exhibitors to promotion and crowd control,” Sands Shopping Carnival was Play Hub Expo received positive mic prevention guidelines and place orders and communicate, said Eva Ng, managing director the largest shopping event of its response from the market and requirements. We were very ha- enabling contactless commu- of MACEXPO. kind in Macao. Visitation excee- has been held six times. MACEX- ppy to see the event attract over nication during the pandemic Based on their excellent per- ded 100,000 over the three-day PO was also the first to introdu- 100,000 visitors in three days.” period and also to increase effi- formance in organizing the carnival, surpassing all expecta- ce exhibitions from Taiwan, fea- Teams held weekly meetings ciency. During the fair, they set Shopping Carnival, MACEXPO tions. turing cartoon characters such to propose and fine-tune ideas up surveys. After the fair was stood out as one of the seven The Carnival provided a free as Chibi Maruko Chan, Hello on the exhibition floor plan, area concluded, a detailed exhibition winners in the 2020 Sands Su- business platform for local Kitty and Line Friends. division, and facility configura- summary report was presented, pplier Excellence Awards, in the SMEs and Sands retailers amid In an open bid for suppliers tion. The scale of the exhibition covering all aspects of the event, category of Small Medium En- the fall-out from the pandemic, for the Sands Shopping Carni- continued to expand with the so we could get a clear sense of terprise (SME). while creating a new weekend val, Sands China’s procurement food and entertainment activi- how the exhibition was evalua- A global initiative of Sands destination for local residents and supply chain team noti- ties. At the same time, MACEX- ted and how effective it was. The China’s parent company, Las and tourists, in support of the ced the creative proposal from PO was fully able to cooperate report could also work as refe- Vegas Sands Corp., the Sands Macao SAR government’s Con- MACEXPO: “MACEXPO’s event with Sands China on a series of rence for similar events in the Supplier Excellence Awards has sume for the Economy initiative proposal combined feasting epidemic prevention measures future,” Chan said. been held at the end of each and to promote the domestic with entertainment. And their facilitated by MACEXPO’s SME The SME appreciated the as- year since 2013 to recognize the economic cycle quotation was competitive,” advantages: “a small team, fast sistance offered by Sands during outstanding cooperation and Working as Sands China’s SME said Kalon Ho, manager of pro- decision-making, high flexibili- the collaboration: “Although services of its suppliers. supplier for the first time, MA- curement and supply chain for ty, and quick feedback.” These we have experience in holding According to Sands China, CEXPO Exhibition Co. Ltd. desig- Sands China. qualities were critical as a brid- no less than 70 different types when selecting service providers, ned and executed the carnival full William Chan, director of ge of communication between of exhibitions, it was the first the company pays attention not just to price, but also to innova- tive ideas. In addition, if the pro- posal includes technological ele- ments, it may be considered for prioritized recognition. With experience working with Sands China successfully under its belt, the local SME dreams big. MACEXPO says they will continue to improve their exhi- bition management system and launch a leasing service of their system to local peers, aiming at increasing the level of service in the convention and exhibition industry in Macao. Meanwhile, the SME will step into the Grea- ter Bay Area to explore more bu- siness opportunities. page 6 www.macaudailytimes.com.mo MACAU 澳門 18.05.2021 tue

MACAU’S LEADING NEWSPAPER

MOX and MGM China hope this first cooperation will contribute MGM concludes dual-listing of in bridging the financial trading platform and tourism and leisu- re enterprises in Macau, which USD750 million senior notes eventually creates more finan- cing channels for these enterpri- LYNZY VALLES ses.” The gross gaming revenue GM China Holdings Limi- (GGR) earned by MGM in the first Mted yesterday announced BLOOMBERG quarter (Q1) recovered to arou- that its USD750 million 4.75% nd 40% of pre-pandemic levels, senior notes due 2027, issued on namely the tally in the fourth March 26, 2021 and listed on the quarter of 2019 — surpassing the Stock Exchange of Hong Kong pace of market recovery at 33%. Limited on March 31, 2021, have In Q1, the improved GGR gave a been successfully listed on Chon- huge impetus to the group’s reco- gwa (Macao) Financial Asset Ex- very, driving total revenue to sur- change Co., Ltd (MOX). This is the ge by 9% and hit HKD2.3 billion, first dual-listing of USD senior equivalent to USD296 million. notes by an integrated resort ho- MGM stated that “it is evident tel operator in Macau. that our strength in premium The USD750 million senior mass is positioning us well as the notes bear an annual interest of market gradually turns the cor- 4.75% and mature on February 1, ner.” 2027. Both properties saw year- “The dual-listing exemplifies -on-year increases in mass- MGM China’s determination in -market revenue, yet downtur- fulfilling its corporate social res- ns in the VIP sector during Q1. ponsibilities as a leading deve- The VIP table games turnover loper and operator of integrated declined by 34.2% and 26.0% resort hotels in the Greater China for MGM Macau and MGM Cotai. region, as well as supporting the “MGM China is confident in Ma- development of Macau financial Strategic & Financial officer of 14th Five-Year Plan, Macau is well of MOX, considered the listing cau’s longer-term growth pros- industry,” said the gaming opera- MGM China said, “Over the past prepared to develop a modern an “important step to promote pects and will continue to in- tor in a statement. decade, MGM China has always financial industry under the un- Macau’s economic diversification vest in strengthening our market Bank of China Limited, Macau been committed to creating divided support from the Central and support the development of position,” Hubert Wang, presi- Branch is the dual-listing agent brand new cultural tourism expe- Government.” Macau’s modern financial indus- dent & chief operating officer for the transaction. riences and diversifying Macau’s Meanwhile, Mex Zhang, exe- try.” of MGM China previously stated Kenneth Feng, president, chief economy. At the start of China’s cutive chairman and president According to Zhang, “both in the earnings memo. ad www.macaudailytimes.com.mo page 7 tue 18.05.2021 中國 CHINA

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of Friday, the longest run since January. That’s even as Treasury yields have climbed and a surpri- singly quick jump in the nation’s China offers banks nearly factory-gate prices were seen to pose a challenge to current mo- netary policy. Factors behind the resilience include ample liqui- USD16b to maintain liquidity dity and capital inflows, which HINA’S central bank accelerated in April. While the injected medium-term loose conditions could be tested cash into the financial by a rise in debt sales in May, the system, in an effort to BLOOMBERG PBOC’s vow to keep cash supply Ckeep borrowing costs stable as ample has boosted confidence. China’s economy continues its “The PBOC will stay suppor- recovery from the virus pande- tive of liquidity to ensure the su- mic. pply of local government bonds The People’s Bank of China can be readily absorbed, when added 100 billion yuan ($15.5 inflation does not appear to be billion) of one-year funds with a major concern for the central its medium-term lending facility bank,” said Frances Cheung, a ra- yesterday, matching the amount tes strategist at Oversea-Chinese coming due in a move that was Banking Corp. Beijing will step up expected by analysts. The autho- injecting short-term cash soon, rities kept the interest rate un- she added. “With the expected changed at 2.95%. pick-up in issuance of bonds, By rolling over the maturing chance is for some net injections funds, the operation is also seen as and when are needed.” to be supportive of the nation’s li- The PBOC has done the mi- quidity-sensitive stocks and also nimum in its daily operations to bonds. The cost on China’s 10- manage short-term liquidity over year note was little changed yes- the past two months. It has been terday. In the money market, the injecting 10 billion yuan of cash seven-day repurchase rate rose daily - no matter the size of funds 19 basis points to 2.19%, near its rose 1.5%. Data showed China’s of fiscal and monetary policies, as “unbalanced and unstable,” coming due - since the start of daily average level over the past economic activity moderated in according to Zhang Gang, a stra- pledging further efforts to drive March. That’s a sign the central year. It recently hit a four-month April from its record expansion in tegist with Central China Securi- a rebound in domestic demand. bank is so far pleased with the low. the first quarter. That eased con- ties Co. The nation’s top leaders China’s sovereign notes gai- subdued volatility in the money The benchmark CSI 300 Index cerns about further tightening recently described the recovery ned for three weeks in a row as market. MDT/BLOOMBERG

Full-blown boycott pushed for Beijing Olympics ROUPS alleging hu- only hurt athletes. Shiffrin, a two-time Olympic Gman-rights abuses “People have worked gold medalist, spelled out

against minorities in China AP PHOTO to engage with the IOC in the dilemma for athletes in are calling for a full-blown good faith to have them a recent interview on CNN. boycott of the 2022 Winter understand the issues di- “You certainly don’t want Olympics in Beijing, a move rectly from the mouths of to be put in the position of likely to ratchet up pressure those most impacted — the having to choose between on the International Olym- Uyghurs at the top of that human rights like morality pic Committee, athletes, list and the Tibetans and versus being able to do your sponsors and sports fede- others,” Tethong said. “It’s job,” she said. rations. clear the IOC is complete- Tethong suggested coali- A coalition representing ly uninterested in what the tion members might lobby Uyghurs, Tibetans, residen- real impacts on the ground the IOC’s top 15 sponsors, ts of Hong Kong and others for people are.” American network NBC, issued a statement yester- The IOC has repeatedly which generates about 40% day calling for the boycott, said it must be “neutral” of all IOC revenue, sports eschewing lesser measures and stay out of politics. The federations, civil society that had been floated like Switzerland-based body is groups “and anyone that “diplomatic boycotts” and essentially a sports busi- will listen.” further negotiations with ness, deriving about 75% Activists have already the IOC or China. of its income from selling singled out IOC sponsor “The time for talking broadcast rights, and 18% Airbnb for attention. with the IOC is over,” Lha- more from sponsors. It also “First is the moral ques- don Tethong of the Tibet has observer status at the tion,” Tethong said. “Is it Action Institute said in an United Nations. OK to host an internatio- exclusive interview with “We are not a super-wor- nal goodwill sporting event The Associated Press. “This ld government,” IOC Pre- such as the Olympic Games cannot be games as usual year with the IOC, asking campaign for Tibet. they are doing.” sident Thomas Bach said while the host nation is or business as usual; not for that the games be removed “The situation where The push for a boycott recently. committing genocide just the IOC and not for the in- from China. A key member we are now is demonstra- comes a day before a joint China’s foreign ministry beyond the stands?” ternational community.” in those talks was Zumretay bly worse that it was then,” hearing in the U.S. Con- has criticized “the politici- In meetings with the IOC, The Beijing Games are Arkin of the World Uyghur Tethong said, pointing out gress focusing on the Bei- zation of sports” and has activists say they have asked set to open on Feb. 4, 2022, Congress. that the IOC said the 2008 jing Olympics and China’s said any boycott is “doo- to see documents in which just six months after the Tethong, herself, was de- Olympics would improve human-rights record, and med to failure.” China has China has given “assuran- postponed Summer Olym- tained and deported from human rights in China. “If just days after the United denied accusations of ge- ces” about human rights pics in Tokyo are to end. China in 2007 — a year the games go ahead, then States Olympic and Pa- nocide against the Uyghur conditions. Activists say the Rights groups have met before the Beijing Summer Beijing gets the internatio- ralympic Committee said people. IOC has not produced the several times in the last Olympics — for leading a nal seal of approval for what boycotts are ineffective and American skier Mikaela documents. MDT/AP page 8 www.macaudailytimes.com.mo WORLD 國際 18.05.2021 tue

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in Israel. Some 55 children in Gaza and a 5-year-old boy in this day in history AP PHOTO Israel were among the dead. Israeli Prime Minister 1950 US and Europe agree Benjamin Netanyahu told Israelis in a televised address Nato aims that Israel “wants to levy a heavy price” on Hamas. That will “take time,” Netanyahu said, signaling the war would rage on for now. Representatives of Mus- lim nations met over the weekend to demand Israel halt attacks that are killing Palestinian civilians in the crowded Gaza strip. Saudi Foreign Minister Faisal bin Almost exactly a year after signing the North Atlantic Farhan called on “the inter- Treaty, 12 nations have agreed a permanent organisa- national community to take tion for the defence of the United States and Europe. The final meeting of the fourth session of the North urgent action to immediately Atlantic Treaty Organisation, or Nato as it has become stop military operations.” known, was held in front of cameras at Lancaster House The meeting of the 57-na- in London. tion Organization of Islamic The 12 foreign ministers sat around a horseshoe table, MIDEAST Cooperation also saw Turkey with the United States Secretary of State, Dean Ache- and some others criticize son, at the centre. A large audience of newspaper and a U.S.-backed push under newsreel correspondents, cameramen and photogra- which the United Arab Emi- phers broadcast their speeches around the world. rates, Bahrain and other Isla- During negotiations over the past few days, the mi- Calls mount for Gaza- mic nations signed bilateral nisters have reached agreement over a communiqué deals with Israel to normalize outlining the aims of the Organisation, and setting out their relations, stepping over a six-point plan for strengthening ties between their the wreckage of collapsed in- countries. Israel cease-fire, ternational efforts to broker Key among these was the establishment of a council peace between Israel and the of deputies, with a permanent chairman and a full-time Palestinians long-term. staff, to put the objectives of the Treaty into action. “The massacre of Palesti- Opening the meeting, Mr Acheson thanked all his greater US efforts nian children today follows colleagues for their “tireless efforts” and said that “ge- ELLEN KNICKMEYER & showed no sign of progress. “I think the administra- the purported normaliza- nuine progress” had been made. “Throughout its deliberations, the council has recogni- EDITH M. LEDERER Thomas-Greenfield war- tion needs to push harder tion,” Iranian Foreign Minis- ned that the return to ar- on Israel and the Palestinian ter Mohammad Javad Zarif sed that only through coordinated plans and effort could .N. Security Cou- med conflict would only Authority to stop the violen- said. its great objectives be achieved,” he said. ncil diploma- put a negotiated two-state ce, bring about a cease-fire, At the virtual meeting of He then went on to read the communiqué, which spoke of the principles behind Nato and outlined the objectives ts and Muslim solution to the decades-old end these hostilities, and get the Security Council, U.N. the organisation is working towards. foreign minis- Israeli-Palestinian conflict back to a process of trying Secretary-General Antonio It stressed the importance of seeking a diplomatic Uters convened emergen- even further out of reach. to resolve this long-standing Guterres said the U.N. was solution before military force is used, but where some cy weekend meetings to However, the United States, conflict,” Schiff, a California actively engaging all parties nations are not willing to cooperate, it said, “the mainte- Israel’s closest ally, has so far Democrat, told CBS’s “Face for an immediate cease-fire. demand a stop to civilian nance of peace and the defence of freedom require the blocked days of efforts by bloodshed as Israeli warpla- the Nation.” Returning to the scenes organisation of adequate military defence.” nes carried out the deadliest China, Norway and Tunisia And Sen. Todd Young of of Palestinian militant rocket The communiqué also includes directives on defence, single attacks in nearly a to get the Security Council to Indiana, the senior Republi- fire and Israeli airstrikes in finance and economics, and establishes a North Atlantic week of Hamas rocket barra- issue a statement, including can on the foreign relations the fourth such war between planning board for shipping. ges and Israeli airstrikes. a call for the cessation of hos- subcommittee for the region, Israel and Hamas, “only per- The British Foreign Minister, Ernest Bevin, called the President Joe Biden gave tilities. joined Connecticut Sen. petuates the cycles of death, agreement one of “historic significance”. no signs of stepping up pu- In Israel, Hady Amr, a de- Chris Murphy, the subcom- destruction and despair, and “I’m afraid we cannot arrive at sensational decisions,” blic pressure on Israel to puty assistant dispatched by mittee chairman, in asking pushes farther to the horizon he told the meeting. “This business of building for peace agree to an immediate cease- U.S. Secretary of State An- both sides to cease fire. “As any hopes of coexistence and is a very grim business, and it has to be worked for day in -fire despite calls from some tony Blinken to try to de-es- a result of Hamas’ rocket at- peace,” Guterres said. and day out. Democrats for the Biden calate the crisis, met with Is- tacks and Israel’s response, Eight foreign ministers “We must never give up faith in its ultimate trials.” administration to get more raeli Defense Minister Benny both sides must recognize spoke at the Security Council involved. Gantz, who thanked the U.S. that too many lives have session, reflecting the seriou- Courtesy BBC News His ambassador to the for its support. been lost and must not esca- sness of the conflict, with al- United Nations, Linda Tho- Blinken himself headed late the conflict further,” the most all urging an end to the mas-Greenfield, told an out on an unrelated tour of two said. fighting. In context emergency high-level mee- Nordic countries, with no an- Biden focused on civilian Biden’s predecessor, Do- ting of the Security Council nounced plans to stop in the deaths from Hamas rockets nald Trump, had thrown U.S. The 12 nations who signed the North Atlantic Treaty in that the United States was Middle East in response to in a call with Netanyahu on support solidly behind Israel, 1949 were Belgium, Canada, Denmark, France, Britain, Ice- land, Italy, Luxembourg, the Netherlands, Norway, Portugal the crisis. He made calls from “working tirelessly through Saturday, and a White House embracing Netanyahu as an and the United States. diplomatic channels” to stop the plane to Egypt and other readout of the call made no ally in Trump’s focus on con- Later in 1950, US general and future president Dwight D the fighting. nations working to broker a mention of the U.S. urging fronting Iran. Trump gave Eisenhower was appointed Nato’s first supreme com- But as battles between cease-fire, telling Egypt that Israel to join in a cease-fire little time to efforts by past mander. Israel and Gaza’s militant all parties “should de-esca- that regional countries were U.S. administrations to push Nato soon ran into controversy when West Germany was included in the Treaty in 1955. The Soviet Union saw it as a late tensions and bring a halt Hamas rulers surged to their pushing. Thomas-Greenfield peace accords between Israel direct threat, and in the same year created a counter-alli- worst levels since 2014 and to the violence.” said U.S. diplomats were en- and the Palestinians, instead ance called the Warsaw Pact. the international outcry Rep. Adam Schiff, Demo- gaging with Israel, Egypt and encouraging and rewarding When the Cold War ended, the Warsaw Pact was dissolved grew, the Biden administra- cratic chairman of the House Qatar, along with the U.N. Arab nations that signed in 1991. tion — determined to wren- intelligence committee, ur- Israeli airstrikes on Gaza two-country normalization No longer directed at the perceived threat of Soviet ag- gression, Nato formed closer ties with Eastern Europe and ged Biden yesterday [Macau ch U.S. foreign policy focus City flattened three buildings deals with Israel. began a major re-evaluation of its role. away from the Middle East time] to step up pressure on and killed at least 42 people Biden, instead, calls Mi- The Organisation’s first aggressive action took place in and Afghanistan — has decli- both sides to end current Sunday, medics said, brin- ddle East and Central Asia 1995, in a campaign of airstrikes launched against Bosnian ned so far to criticize Israel’s fighting and revive talks to ging the toll since Hamas conflicts a distraction from Serb positions in the former Yugoslavia. part in the fighting or send a resolve Israel’s conflicts and and Israel opened their air U.S. foreign policy priorities, It was followed in 1999 by an 11-week campaign of air- strikes over Kosovo which it undertook without United flashpoints with the Palesti- top-level envoy to the region. and artillery battles to at least including competition with Nations approval. Appeals by other countries nians. 188 killed in Gaza and eight China. MDT/AP www.macaudailytimes.com.mo page 9 tue 18.05.2021 資訊／娛樂 INFOTAINMENT

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YOUR STARS The Born Loser by Chip Sansom

Aries Taurus

Mar. 21-Apr. 19 Apr. 20-May. 20 Aren’t you curious to know what Call a spade a spade. People that is? Give them some but not will respect your honesty and all of your time. Make it clear give you more responsibility that you have boundaries that because of it. If someone is you have no intention of crossing bragging a bit too much, tell for them, at least not yet. them not to be so pompous.

Gemini Cancer

May. 21-Jun. 21 Jun. 22-Jul. 22 Whether or not you have a good Be wary of extravagant gifts day totally depends on your from co-workers or casual attitude this morning. If you’re acquaintances. They could feeling up for a challenge, then be giving you something with you’re going to be well pleased the expectation that they’ll be with how the day unfolds. getting something in return. SUDOKU WEATHER Leo Virgo MIN MAX CONDITION Jul. 23-Aug. 22 Aug. 23-Sep. 22 Easy Easy+ CHINA It will be surprisingly simple Your growing confidence is helping 31 to do, and it will give you one you impress all the right people Beijing 15 cloudy more achievement to celebrate. now, but too much action might Harbin 14 30 clear Ask around and you’ll find out cause you to get overwhelmed all that a few of your friends have over again. Do yourself a favor and Tianjin 15 21 rain something to celebrate too! scale back on your plans for the day. Urumqi 16 24 rain 26 Libra Scorpio Xi’an 20 cloudy Lhasa 15 27 sunny Sep.23-Oct. 22 Oct. 23-Nov. 21 Chengdu 23 27 rain When it comes to making new Your ego is growing, and that is Chongqing 25 31 rain friends, you’re going to be nothing but a good thing! Now absolutely unstoppable today. might be the right time to take that Kunming 18 23 rain Everyone wants to be on your risk that has intimidated you for so 19 team, and they won’t be shy about long. You may finally have the faith Nanjing 14 overcast letting you know it! in yourself that you need to prevail. Shanghai 27 37 cloudy Wuhan 17 23 rain Sagittarius Capricorn Medium Hard Hangzhou 13 30 cloudy Nov. 22-Dec. 21 Dec. 22-Jan. 19 Taipei 14 23 overcast That grouchy person who tries They’ll be flattered by the Guangzhou 10 24 cloudy to steal your parking space, the attention, which will encourage overbearing boss who spends more them to keep on going with this Hong Kong 17 28 clear time breathing down your neck than lifestyle renovation. Don’t be doing their own job, the roommate afraid to let someone know you’re who never cleans up their messes. proud of them. WORLD Aquarius Pisces Moscow 17 31 clear Frankfurt 8 14 rain Jan. 20-Feb. 18 Feb.19-Mar. 20 Paris 8 15 rain This day could unfold in some Someone you care deeply about unpredictable directions, but has been living in a bit of a London 7 16 cloudy not knowing exactly what’s fantasyland lately, and it’s going going to happen next might be to be up to you to give them the New York 14 24 cloudy a very good thing for you right reality check they need. It’s never now. fun to burst someone’s bubble...

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RETAIL MARKETS Hope for US boost Next Digital pushes global luxury trading halted goods recovery: study after Jimmy Lai’s COLLEEN BARRY, MILAN

UXURY brands are AP PHOTO assets frozen Lalready cashing in on HE Hong Kong stock exchange halted trading of promises of a 21st-century TNext Digital shares yesterday at the media com- version of the “Roaring pany’s request after authorities froze assets belonging to ‘20s” in the United States, its founder Jimmy Lai, who has been a high-profile voice where hefty stimulus pa- in the the territory’s pro-democracy movement. ckages and an advanced Later in the day, the media tycoon and nine other vaccine campaign are ac- pro-democracy activists pleaded guilty to taking part celerating post-pandemic in an unlawful assembly in 2019. Lai is already serving recovery in high-end sales, a 14-month sentence for his role in two other unautho- according to a new study rized assemblies during a period when Hong Kong resi- by Bain & Co. consultancy dents were involved in mass anti-government protests. released yesterday. Next Digital said in a filing that it requested the tra- The rapidly rebounding ding halt after authorities announced the freeze on Lai’s U.S. economy together assets Friday under a national security law that critics with China — already on say is meant to snuff out dissent in the semiautonomous an established growth tra- Hermes store in Mayfair in London Chinese territory. Next Digital publishes pro-democra- jectory — could push the cy tabloid Apple Daily, and the company was founded global market for perso- as soon as this year. A more during the winter moved retailing,’ D’Arpizio said. by Lai, who owns a 71% stake and is its controlling sha- nal luxury goods back to cautions scenario puts re- to working remotely from The second-hand reholder. or even beyond pre-pan- covery to 2019 levels off Dubai,’’ D’Arpizio said. market helps brands em- The freezing of Lai’s assets raises questions about demic sales levels as early until 2022. The pandemic is pro- phasize the longevity and Next Digital’s survival as a company. Advertisers have as this year, Bain partner Sales of luxury apparel, ving to be an accelerator value of their products, become wary of Apple Daily’s staunch, pro-democratic Claudia D’Arpizio said. jewelry, leather goods and in trends that were already she noted, qualities that stance in Hong Kong, adversely impacting its revenue as “We expect a very positi- beauty products plunged happening, including more are especially attractive authorities crack down on dissenting voices in the city at ve cycle that is just starting to 217 billion euros in the e-commerce, an empha- for younger consumers the urging of leaders in Beijing. in the United States, where pandemic year of 2020, sis on greater inclusivity, a who are starting to power Last week, the Taiwan Apple Daily newspaper said it luxury brands can really from 281 billion euros in push toward sustainability the market. Collectible would stop publishing a print edition. The paper said it take advantage,’’ D’Arpi- 2019, shedding six years of and embrace of the secon- sneakers, vintage bags by had been losing money, and Next Digital could no longer zio told The Associated growth. d-hand market, she noted. such brands as Prada or support it because “pro-China forces” had blocked ac- Press, citing the stimulus Europe remains the la- E-commerce grew to Hermes and even second- cess to advertising for its flagship Apple Daily newspaper and positive stock market ggard, with tourism flows 23% percent of sales in -hand watches are develo- and other publications in Hong Kong. reaction. from abroad still suppres- 2020 from 12% in 2019, ping a cachet all their own. Lai and the nine others who pleaded guilty over an “This together with the sed by a vaccine campaign a bit more than a decade “There is a brand equity October 2019 demonstration, can make mitigation pleas fact that probably consu- that is behind that of the into the phenomenon. It is element,’’ D’Arpizio said. on May 24 and the sentences will be handed down on mers are already back to U.S. expected to reach 30% by “This is a space where May 28. They face up to five years imprisonment. normal in terms of trave- Other bright spots in- 2025. some brands were skep- The mass protests started over a proposed extradition ling, is pushing the reco- clude the Middle East, in The result is likely to be a tical and scared, but now bill that many saw as an infringement on the freedoms very of luxury goods.” particular Dubai, which rethink of retail footprints, they are trying to unders- Hong Kong was promised when it was handed over from In its most optimistic attracted high net wor- with some reductions, but tand the consumer dy- British to Chinese control in 1997 and then evolved to outlook, Bain forecasts th individuals during the also emphasis on customer namic and partner with include broader demands for democracy. After months a full recovery and even pandemic. “They did vac- experience to support the players or develop second- of protests and sometimes violent clashes between se- growth to as much as 295 cinations very quickly on-line presence, both in -hand platforms themsel- curity forces and protesters, Beijing began tightening its billion euros ($358 billion) and many wealthy people terms of social media and ves.” MDT/AP control over the territory. MDT/AP

CORPORATE BITS Sands Resorts participates in Macao Week in Jiangsu CTM launches eSIM service promoting The Londoner Ma- service, this demonstrates cao attracted a “large numbers CTM’s determination and of visitors” to enjoy British-the- commitment to promote the med dance performances. construction of a smart city, Visitors were able to take “sel- the firm said in a statement. fies” at the booth, scan a We- CTM pledged it will continue Chat QR code to discover the to explore further eSIM appli- latest benefits and offers, and cation scenarios, including on receive souvenirs. Meanwhile, wearable devices, Internet of a series of attractive packa- Vehicles, and more. The first ges for Nanjing residents for phase of CTM eSIM service visits from May to August, with supports all prepaid card and limited-time hotel packages mobile postpaid service with including accommodation, re- the covering of designated tail promotions and more, were CTM has made an official (IoT) and digital evolution in handset models that support Sands Resorts Macao has doner Macao, an integrated available for booking. announcement launching Macau. eSIM. It is expected that CTM participated in the “Macao resort with a British theme, During the roadshow, the the eSIM service in Macau, CTM stated that IoT tech- eSIM service will extend the Week in Jiangsu” mega road- and offered attractive limited- immersive interactive expe- being the first telecom ope- nology and applications are coverage to include other show from May 14-17 at the time hotel packages and pro- rience teamLab SuperNature rator to launch such a servi- important components of a smart wearable devices by Confucius Temple in Pe- motions. Macao, held at The Venetian ce, with the objective of ac- “Digital Macau 2.0.” the end of the year. eSIM is an destrian Street, Nanjing. The According to a statement, Macao, was also advertised to celerating the development As the first telecom opera- embedded chip, digitalizing exhibit introduced The Lon- the specially-designed booth visitors. of the Internet of Things tor in Macau to launch eSIM the physical SIM card. www.macaudailytimes.com.mo page 11 tue 18.05.2021 體育 SPORTS

MACAU’S LEADING NEWSPAPER

But like too many times in recent weeks, Barcelona’s defense let it down. Celta striker Santi Mina equalized before halftime on a With Barcelona out of title race, shot that goalkeeper Marc-Andre ter Stegen could have done more to try to keep out. Mina then ad- Messi has future to decide ded a second goal in the 88th af- ter defender Clément Lenglet left ITH Barcelona’s Koeman replied when he was Barcelona a man down when he season effectively asked if he believed Messi had earned a second yellow card.

over, Lionel Messi AP PHOTO played his final match at Camp Koeman had succeeded in now has a big de- Nou — a stadium still without bringing in some younger players cisionW to make. fans because of the COVID-19 to rejuvenate Barcelona’s squad Should he finish out his career pandemic. this season and steering the team at the club that helped him beco- “He is still the best player in to the Copa del Rey title last mon- me an all-time soccer great? the world and today he showed th. Or have the team’s struggles to that it is impossible to play wi- The former Barcelona defen- keep winning trophies convinced thout him,” Koeman said. “He der had also inspired his team to him that he can find more success has scored 30 goals this season (in a hot streak in the league that had in Paris or Manchester? the league) and earned us a lot of allowed it to almost erase a dou- Barcelona was left without any points. ble-digit lead by Atlético. chance of winning the Spanish “It is up to Messi. For me and But when Barcelona had the league on Sunday, bowing out the the club, we want him to stay with opportunity to move past Atléti- title race in demoralizing fashion us. Because if Leo is not here, we co and take the lead in late April, after letting Celta Vigo overhaul a have doubts about who can sco- it was upset 2-1 by Granada at goal by Messi and rally for a 2-1 re.” home. That loss derailed the victory. On the same night that Bar- team. Barcelona drew with Atléti- Atlético Madrid beat Osasuna celona’s women won the Cham- co and at Levante before the loss 2-1 and can now only be caught he wanted to leave Barcelona after Since then, Joan Laporta has pions League for the first time by to Celta. If it does not beat the al- by Real Madrid in next weekend’s a campaign that finished without been elected for a second stint as routing Chelsea 4-0, Barcelona’s ready relegated Eibar in the last final round. a title and a humiliating 8-2 loss the club’s president. Laporta ran men’s lineup was again undone round, Barcelona could finish in Barcelona has one game left on to Bayern Munich in the Cham- Barcelona when Messi was just by some sloppy defending and fourth place. the calendar, but with nothing to pions League. When that exit was blossoming with the team and failing to converting their scoring The late-season collapse of his play for except third place in the denied by the club, Messi said that maintained a good relationship chances. team that may have put Koeman’s league, the club’s attention is now he would focus on this season with the player and his family. The 33-year-old Messi exten- job in danger comes with mid- fully on the future of its inscruta- and put off any decision until this Even so, Messi has not confirmed ded his club-record tally to 672 field great Xavi Hernández appa- ble star. summer when his contract expi- a decision on his future. goals with a header to give Barce- rently being groomed to take his Last summer, Messi had said res on June 30. “I hope not,” coach Ronald lona a first-half lead against Celta. place. AP

ad China urges US to play constructive the role in Gaza diplomacy BUZZ China yesterday renewed calls for the U.S. to play a cons- lity and take an impartial position to support the council and tructive role in ending the conflict in Gaza and stop blocking play its due role in cooling down the situation and rebuilding efforts at the United Nations to demand an end to the blood- trust for a political solution,” Zhao said at a daily briefing. shed. China “strongly condemns” violence against civilians and Foreign Ministry spokesperson Zhao Lijian said China, as calls for an end to air strikes, ground attacks, rocket fire and rotating head of the Security Council, has urged a cease-fire “other actions that aggravate the situation,” Zhao said. and the provision of humanitarian assistance, among other Israel should “exercise restraint, effectively comply with the OPINION proposals, but that obstruction by “one country” has preven- relevant United Nations resolutions […] and maintain and ted the council from speaking with one voice. respect the historical status quo of Jerusalem as a religious World Views “We call on the United States to assume its due responsibi- holy site,” Zhao said. More on p8 Andy Mukherjee, MDT/Bloomberg

Can digital cash make inflation worse? AP PHOTO AP PHOTO Inflation is coming. Or wait, it’s already here. Bond investors are looking at the 4.2% annual rate that U.S. consumer prices jumped to in April and wondering if it’s all because of depressed levels from last year. Cou- Israeli military unleashed a ld it be that the Federal Reserve is wrong about higher wave of heavy airstrikes on prices being transitory? the Gaza Strip yesterday, In that case, the Fed and other central banks may saying it destroyed 15 have to rethink, among other things, their space-ra- kilometers of militant ce-type competition to offer digital cash. tunnels and the homes of It’s a project best undertaken after price pressures nine Hamas commanders. have eased, and the vast pools of excess liquidity Residents of Gaza to fill the gaping economic hole left by the pande- awakened by the overnight mic have dried. A premature contest to introduce barrage described it as a digital yuan, digital euro, FedCoin or BritCoin could the heaviest since the war see them emerge as widely accepted substitutes, not began a week ago, and only for physical cash but for bank reserves. Tackling even more powerful than inflation could then get harder. a wave of airstrikes in Gaza To see why, consider the typical response to unex- City the day before that pected inflation from a monetary authority that has left 42 dead and flattened done a lot of quantitative easing. It has to taper its three buildings. bloated balance sheet by selling some government and corporate bonds to the banking sector, draining Joy for UK pubs and the excess reserves they’re keeping with the central bank. Less liquid lenders would, in turn, sell loan as- hugs tempered by rise AP PHOTO sets. Tighter monetary conditions would tame infla- tion. Now, think of a twist in this standard playbook: You in virus variant and I are free to convert the funds in our bank accoun- Saudi Arabia Vaccinated ts into electronic cash issued directly by a monetary DANICA KIRKA, guidance, even though in COVID-19 cases could Saudis will be allowed to authority. Commercial institutions lose our deposits, LONDON they say the situation is scuttle those plans. leave the kingdom for the but if they aren’t bothered about becoming a little less different now because al- Both confirmed new first time in more than a liquid, they won’t sell income-earning loan assets to UBS and restauran- most 70% of the adult po- cases and coronavirus- year as the country eases compensate. Instead, they may shed another asset to a ban on international Pts across much of the pulation has received at -related deaths have risen travel aimed at containing balance their books: their idle cash with the central U.K. opened for indoor least one dose of vaccine. over the past week, though the spread of the bank. service for the first time “Please, be cautious they remain well below the coronavirus. The kingdom The monetary authority now owes a little less to since early January yester- about the risks to your lo- peak reported in late De- has vaccinated close to commercial banks, and a little more to us. The size of 11.5 million residents with its balance sheet hasn’t changed, and the tapering it day, even as the prime mi- ved ones,’’ Prime Minister cember and early January. at least one jab of the wanted to achieve by selling bonds to the private sec- nister urged people to be Boris Johnson said in a vi- Despite concern about cautious amid the spread deo posted on Twitter. “Re- the new variant, people COVID-19 vaccine, making tor hasn’t occurred. Digital cash “renders the current them eligible to depart the asset-purchase programs quasi-permanent, as rever- of a more contagious CO- member that close contact are venturing out. Some country under the new sing such programs becomes harder to implement,” VID-19 variant. such as hugging is a direct pubs opened at midnight, guidelines. says a recent study by researchers at the Swiss Finance The latest step in the way of transmitting this di- ready to scoop up any tra- Institute. gradual easing of na- sease, so you should think de. Central banks in China and Sweden have fairly ad- tionwide restrictions im- about the risks.” Ian Snowball, owner of vanced plans to introduce currencies in electronic AP PHOTO posed on Jan. 4 the Showtime Bar form for retail use. Other major economics are toying with the idea or conducting experiments. None that I also includes the in Huddersfield, know of foresees digital cash to replace bank reserves. reopening of thea- Next phase in northern England, The immediate goal of national authorities is to ters, sports venues Britain’s reopening said it was nice to British vacationers began tamp down the cryptocurrency mania by giving citi- and museums, be inside again, arriving in large numbers zens a safe, sovereign alternative to Bitcoin — some- raising hopes that is scheduled for rather than facing in southern Portugal thing that Elon Musk can’t refuse to accept as pay- the economy may the island nation’s yesterday for the first ment for a Tesla. For China and the U.S., though, the soon start to reco- June 21, when unpredictable wea- time in more than a year, motivation behind launching digital cash extends to ver from the de- ther. after governments in challenging — and defending — the outsize role of the two countries eased vastating effects of the remaining “I don’t have to the U.S. dollar in the global economy. their Covid-19 pandemic Whatever their reasons to offer electronic curren- the pandemic. The restrictions are have a hoodie or a travel restrictions. A cies, the return of global inflation shows that caution government is also coat on any more - plane from Manchester, is warranted. Record low yields on junk bonds is one relaxing guidance set to be removed it’s great,’’ he said. England, disgorged the indicator of the surplus cash floating around. Global on close personal “And hopefully we first of more than 5,000 liquidity has risen by $32 trillion over the past year, contact, such as hugging, Scotland, Wales and don’t have to go back out- tourists expected to equivalent to more than a third of world output, ac- and permitting internatio- Northern Ireland are side again, hopefully this is arrive on 17 U.K. flights cording to London-based Crossborder Capital Ltd., in Portugal’s southern nal travel, though only 12 following similar but sli- the end of it now.” Algarve region on the first which estimates that another $15 trillion is slated countries and territories ghtly different reopening Other Britons couldn’t through the end of 2021. In its quest to maximize day nonessential travel are on the list of “safe” des- paths. wait to leave altogether. profit, a part of the commercial lending system could was allowed. easily jettison the parachute of sticky retail deposits tinations. Yesterday’s reopening Holidaymakers got up ear- Two Catalan — allowing them to turn into digital cash — without But the rapid spread allows people to go out for ly to check in for the first Spain separatist parties say selling risky assets. The pursuit of profit by sacrificing of a variant first discove- a drink or a meal without flights to green list desti- they have reached an liquidity usually ends with socialization of losses: ex- red in India is tempering shivering in outdoor beer nations such as Portugal. initial agreement to form pensive, taxpayer-funded bank rescues. the optimism for pubs gardens or huddling arou- Keith and Janice Tomse- a regional government The trajectory and persistence of inflation needs a and hugs amid memories nd sidewalk tables, as only tt, a retired couple in their in northeastern Spain, close watch. Maybe the combination of aggressive fis- of how another variant outdoor service was per- 70s, were on their way to ending a three-month cal stimulus and generous monetary easing has ma- swept across the country mitted after the rules were the Portuguese island of stalemate since elections naged to release the price genie out of the bottle — in December, triggering initially eased last month. Madeira. They booked were held. The left- something that quantitative easing alone couldn’t do wing ERC party and the after the 2008 financial crisis. If that is indeed what England’s third national The next phase in Britain’s their holiday in October lockdown. Public health reopening is scheduled for “on the offchance” it cou- center-right Together for we’re witnessing, then monetary authorities should Catalonia party are rivals hope that public reception to digital cash remains like officials and the govern- June 21, when all of the ld go ahead. They had for power at the local and it is in China’s pilots right now: lukewarm. Anything ment are urging people to remaining restrictions are followed all the testing regional levels but agree hotter would be risky. continue to observe social set to be removed. John- guidelines and were fully that the dynamic region distancing and hygiene son has said a big surge vaccinated. MDT/AP should secede from Spain.