Year I | Number 10 | April 13, 2012 Editor-in-chief | Tiago Azevedo Deputy editor-in-chief | José I. Duarte MOP $ 6.00 www.macaubusinessdaily.com
Cash handout begins April 24
Casino project freeze to aid existing resorts
World Bank cuts China growth to 8.2 pct
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Left behind
DARK SIDE
OF THE BOOM W
hile the territory’s economy continues to boom, so has the wealth gap, experts say. The rise in the median wage hides the fact that almost half of all workers still earn less than MOP10,000. The government has increased financial assistance to the disadvantaged, helping improve the quality of life of the
female-headed singleparent families, disabled people and the elderly. But for many people that receive no government help, including new immigrants, living from day to day is enormously difficult. An estimated 2,600 candidates among the poorest and most vulnerable have turned to the Caritasrun short-term food as-
sistance programme. Rising rents for private housing and rising food prices have exacerbated the troubles of the poor, since much of their income is spent on food and accommodation. Meanwhile many former employees of the flagging manufacturing industries are finding it impossible to get a new job in the ser-
vices industries. Whereas government’s cash handouts and financial assistance may be considered helpful and even generous, experts agree that they may not be enough to narrow the gap between rich and poor. They also warned that the gap might become unsustainable in the long run. More on page 8 & 9
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April 11
HSI - Movers Name
%Day
BOC HONG KONG HO
3.46
CHINA RES LAND
3.04
New law to build heritage conservation
Noise levels adding costs to Macau life
SINO LAND CO
2.37
HENDERSON LAND D
2.34
CHINA CONST BA-H
2.19
AIA GROUP LTD
-0.73
The new cultural heritage protection law is finally on its way to the Legislative Assembly, three years after being announced. The draft states that all listed sites could have buffer zones, “whenever that becomes essential for its defence and promotion”. If approved, the law will regulate what can be built within those buffer zones. The draft law also seeks to cover “intangible findings” such as music and other arts. Page 2
Noise is spoiling tourist enjoyment of Macau’s historic old town says an independent study by Macau University of Science and Technology. In the first three months of 2012, Macau’s background noise was well above guidelines issued by the WHO according to official measurements. “The high pedestrian exposure to traffic noise in the historical urban area reduces the comfort of tourists walking in the historic centre,” the university study says. Page 4
CHINA COAL ENE-H
-0.81
CHINA MERCHANT
-1.03
CATHAY PAC AIR
-1.64
ESPRIT HLDGS
-1.73
Source: Bloomberg
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Rail link pressure closer to Macau The city is ill-prepared to deal with the opening of the Gongbei station on the Guangzhou-Zhuhai Intercity Railway, scheduled for late this year. The boost in visitor arrivals will weigh heavily on already stressed infrastructure, as more visitors from the mainland’s more distant provinces and autonomous regions may come to Macau, IFT professor Don Dioko says. During the first two months of this year 1.4 million visitors from Guangdong visited Macau, accounting for 30.5 percent of all tourists. Page 7
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