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Economy Expected to Resume Growth in 2016

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Economy Expected to Resume Growth in 2016 CARITAS LAUNCHES NO DEBATE ON FISCAL BOMB PLOT UNCOVERED IN HONG KONG HELPLINE FOR EXPATS RESERVE PLAN Caritas Macau and the Life Au Kam San’s motion to Hope team are launching debate investing Macau’s fiscal a suicide prevention and reserves in Guangdong was emotional aid hotline scrapped P3 MDT REPORT P5 P11 TUE.16 Jun 2015 T. 28º/ 33º C H. 65/ 90% Blackberry email service powered by CTM MOP 5.00 2336 N.º HKD 7.50 FOUNDER & PUBLISHER Kowie Geldenhuys EDITOR-IN-CHIEF Paulo Coutinho “ THE TIMES THEY ARE A-CHANGIN’ ” WORLD BRIEFS Economy expected to AP PHOTO resume growth in 2016 GREECE’s international creditors were Tax revenue down, public expenditure up 49 percent increasingly aghast yesterday at Athens’ P2 failure to compromise over a bailout deal that’s needed AP PHOTO imminently to avoid the country going bankrupt. A day after technical talks broke down with an apparent lack of progress, French President Francois Hollande urged Greece to swiftly resume negotiations with international creditors. AP PHOTO UK Queen Elizabeth II led commemorations yesterday to mark the 800th anniversary of the Magna Carta — but the human rights the document helped enshrine are at the center of a modern political feud. British Prime Minister David Cameron’s Conservative government wants to replace the Human Rights Act — whose supreme arbiter is a European court — with a British Bill of Rights, a move opponents fear could weaken key protections. UK Amnesty International urged world leaders yesterday to radically overhaul South Korea refugee policies and create a comprehensive global strategy to deal with the crisis, MERS death describing it as the worst emergency of its kind since World War II. toll rises to 16 More on backpage P12 16.06.2015 tue th Anniversary 2 MACAU 澳聞 CRIME Economy expected to resume Local cabbie arrested for growth in 2016 unconsensual sex HE Judiciary Police sent a local taxi HE local economy is ex- driver to the Public Prosecutions pected to start growing T T Office for investigation and interroga- again in 2016, when the BLOOMBERG tion yesterday morning after he was Economist Intelligence Unit reported to have coerced his mainland has predicted real growth of wife into having sex with him at knife- 5.3 percent, according to the point. most recent report on Ma- The police authority said that the mar- cau. ried couple, who had a 6 year old son, After the Gross Domestic were sleeping in different rooms when Product (GDP) of the terri- the sexual coercion took place in their tory recorded a growth rate flat in the northern district of the city of 10.7 percent in 2013 and early last Sunday. The 55-year-old sus- negative 0.4 percent in 2014, pect requested that the victim partici- the EIU report expects a de- pate in intercourse with him while she crease of 6.0 percent for this was sleeping with the kid. Reluctant to year and a return to growth have sex, the 35-year-old victim was the following year. allegedly forcefully dragged by the irate The economic contractions, man into his room before he violently following consecutive years stripped her naked and subsequently of strong growth, are due to beat her. According to the woman’s re- the downturn in the gaming count, the couple’s son was left crying and associated services sec- outside the locked room. tor, apparently as a result The victim managed to get dressed of anti-corruption measures and escape the room with the minor. adopted by the Chinese go- A porter loads a suitcase onto a trolley in the lobby of the Galaxy Macau casino resort Afterwards, the man lost his temper vernment, according to the and rushed into the kitchen and retur- report’s authors. tion, or investment, is expec- and gaming developmen- following rates of 5.5 percent ned with a knife, threatening to kill his Despite this decline, do- ted to fall this year to -2.0 ts, such as the 2nd phase of and 6.1 percent in 2013 and family. mestic demand remains percent, after increases of the recently opened Galaxy 2014 respectively, due to a Having gotten rid of the man, his wife strong, as a result of a near- 8.9 percent and 35.2 percent Entertainment complex and drop in the number of visitors, managed to call the police for help with full employment rate, which in 2013 and 2014, respecti- the Broadway Macau, whose which has resulted in redu- the child while staying in their own is why, according to the EIU, vely, and will then resume financial investment effort ced pressure on services and room. The security authorities quickly the economy will register a growth in 2016. occurred during 2014. a downturn in luxury goods arrived at the scene and arrested the sharp drop this year and re- The expected decline in this The inflation rate is expec- purchases, such as gold items, taxi driver. turn to growth in 2016. indicator this year follows ted to slow to 4 percent this watches, bags and branded Separately, a local man was swindled Gross fixed capital forma- completion of major hotel year and 4.9 percent in 2016, apparel. MDT/Macauhub out of HKD10,000 in a phone scam last Friday at around 3:00 p.m. after a caller claimed that his daughter had been ab- ducted. Another local man also recei- ved a similar phone call at around the Fiscal surplus drops sharply, same time claiming to have kidnapped his son, but he did not fall for the hoax. The scams, which happened half public expenditure up 49 percent an hour apart, both requested HKD300,000 worth of ransom money. Total public revenue in the past During the first telephone call, a Canto- five months stood at 46.42 billion nese-speaking man professed that the patacas, decreasing by 33.8 percent abductee would be killed in a couple of year-on-year, the bureau results in- hours unless he received the payment. dicated. Scared by his intimidation and someo- This noticeable drop in public reve- ne loudly crying on the other end of the nue is partly the result of the sluggish phone, the distraught victim pawned performance of the gaming industry his diamond ring worth HKD16,000 since last June, which saw an avera- for the required cash and transferred it ge decline of 24.4 percent for the 12th to the unknown man’s Shenzhen bank consecutive month. The decrease rate account. However, the victim later rea- in revenue from “direct taxes from ga- lized it was a deception after his daugh- ming” extended to 35.4 percent in the ter arrived home from school. January-May period. In another case, a retired man was Conversely, the figures indicate that close to being defrauded as he believed the total public expenditure in the that his mentally-challenged son could Civil servants attend residents. Public expenditure increased by 49.4 percent year-on-year first five months of this year increased be the target of an abduction. However, remarkably by 49.4 percent year-on- his wife, whom he informed of the pos- ACAU recorded a fiscal surplus percent from the year before, accor- year to MOP21.14 billion, among whi- sible kidnapping, saw through the trick Mof MOP25.28 billion in the first ding to the latest figures released by ch capital expenditure escalated signi- and safeguarded the HKD50,000 the five months of this year, down by 54.9 the Financial Services Bureau. ficantly by 82.9 percent. MDT/Xinhua nervous man intended to pay. DIRECTOR AND EDITOR-IN-CHIEF_Paulo Coutinho [email protected] A MACAU TIMES PUBLICATIONS LTD PUBLICATION www.macaudailytimes.com.mo MANAGING EDITOR_Paulo Barbosa [email protected] MDT’s Website has logged over CONTRIBUTING EDITORS_Eric Sautedé, Leanda Lee, Severo Portela ADMINISTRATOR AND CHIEF EXECUTIVE OFFICER CHINA & FOREIGN EDITOR_Vanessa Moore [email protected] Kowie Geldenhuys [email protected] 91 million page views DESIGN EDITOR_João Jorge Magalhães [email protected] | NEWSROOM AND CONTRIBUTORS_Albano SECRETARY Juliana Cheang [email protected] Martins, António Espadinha Soares, Brook Yang, Catarina Pinto, Cyril Law, Emilie Tran, Grace Yu, Irene Sam, Jacky I.F. Cheong, ADDRESS Av. da Praia Grande, 599, Edif. Comercial Rodrigues, 12 Floor C, since January 1st, 2012 up to today. Jenny Philips, Joseph Cheung, Juliet Risdon, Keith Ip, Renato Marques (photographer), Richard Whitfield, Robert Carroll (Hong Kong MACAU SAR Telephones: +853 287 160 81/2 Fax: +853 287 160 84 correspondent), Rodrigo de Matos (cartoonist), Ruan Du Toit Bester, Sandra Norte (designer), Sum Choi, Viviana Seguí | ASSOCIATE Advertisement [email protected] Thank You! CONTRIBUTORS_JML Property, MacauHR, MdME Lawyers, PokerStars | NEWS AGENCIES_ Associated Press, Bloomberg, Lusa For subscription and general issues: News Agency, MacauHub, MacauNews, Xinhua | SECRETARY_Yang Dongxiao [email protected] [email protected] | Printed at Welfare Printing Ltd Like us? facebook.com/mdtimes SEND NEWSWORTHY INFORMATION AND PRESS RELEASES TO: [email protected] WEBSITE: WWW.MACAUDAILYTIMES.COM.MO tue 16.06.2015 th Anniversary 澳聞 MACAU 3 Foreign exchange reserves increase Caritas launches slightly The Monetary Authority of Macau English and Portuguese announced yesterday that the preliminary estimate the MSAR’s foreign exchange reserves totaled MOP139.1 billion (USD17.42 billion) at the end of helpline for expats May 2015. The reserves increased by 1.3 percent from the revised value of MOP137.3 billion (USD17.20 billion) for the previous month. Macau’s foreign may seem, there is no need to exchange reserves at the end of May 2015 go through it alone.” represented 12 times the currency in Ms Mohr recalled that there circulation.
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