The Macau Metro Monitor, January 27, 2011
BILLIONAIRE STANLEY HO SUES FAMILY MEMBERS, LAWYER SAYS macaubusiness.com
Gordon Oldham, on behalf of Stanley Ho, announced he had filed a court claim against some of Mr Ho’s family members to recover his assets. But yesterday the casino mogul also claimed to have fired Mr Oldham. “Regarding his statement on television, this was not his sentiment. He wants to continue. He is trying to get his wealth back,” Mr Oldham told Reuters in a telephone interview.
Meanwhile, Angela Ho, said she could not believe that her father would leave nothing to her mother's family. She will meet the press in Macau later today. Furthermore, Macau CEO Chui noted that the government had not received any report on SJM stock transfer.
EMPLOYMENT SURVEY FOR OCTOBER - DECEMBER 2010 DSEC
Unemployment rate for October-December 2010 was 2.7%, down by 0.1% point over the previous period (September-November 2010), the lowest since the Handover of Macao to China. Total labor force was 331,000 in October-December 2010 and the labor force participation rate stood at 71.4%, up by 0.2% point from the previous period.
SANDS CHINA ANNOUNCES SALARY INCREASE
Sands China Ltd announced that all eligible Sands China full-time employees are entitled to a salary increase of 4.5% effective on March 1, 2011. “This follows the salary review exercise of a 3.5% increase for all 14,500 full-time employees in 3Q 2010. The company has now completed two salary adjustments in less than nine months which accounts for an 8% increase in less than a year," said Sands.
INFLATIONARY PRESSURES 'LIKELY TO INTENSIFY': AMCM
“Rising global food prices and the Yuan appreciation would be the factors adding up price pressure from imported sources”, said the local Macau Monetary Authority. Nevertheless, it added, in contrast to common perceptions, higher import prices tend to have a secondary impact on local inflationary pressures “while domestically generated inflationary pressures under strong aggregate demand at full employment prevail”.
The Macau Government has decided to speed up the cash handout to local residents to the beginning of 2011, rather than between July and September as usual, and is also working closely with relevant Mainland authorities to expand the sources of food imports and to safeguard a stable food supply for the SAR.
INFLATION WILL EASE IN SECOND HALF: MAS Strait Times
"Headline inflation is expected to be higher over the next few months, mainly due to the recent surge in COE premiums and global food prices. However, we expect it to moderate in the second half of 2011' the Monetary Authority of Singapore (MAS) said.
VIP OPERATOR EXPANDS BUSINESS macaubusiness.com
Asia Entertainment & Resources Ltd. announced that it would be adding a private room to its VIP facility at StarWorld Hotel. The move is justified in order to handle the increasingly high demand for private rooms, the company said.