The Macau Metro Monitor, April 15, 2011
IMPORTED WORKERS ALMOST HIT THE 80,000 MARK macaubusiness.com
In February, the total number of non-resident workers in Macau stood at 79,500, up 2% MoM. In September 2008, Macau had a total of 104,000 imported workers, but since then the number had continually fallen MoM until it rose back again for the first time in June 2010.
SJM SAYS ABUNDANT GLOBAL LIQUIDITY SHORES UP GAMING INDUSTRY Macau Daily Times
SJM CEO Ambrose So says he is upbeat about the development of Macau's gaming industry this year. So said positive factors for the gaming sector include the US QE that ‘will not tighten shortly’, the ‘very ample’ global money supply and the positive economic expectations of Asia as a whole. SJM plans to offer more non-gambling elements if the plan for its Cotai project is approved.
PRIVATE HOME SALES REBOUND AFTER 4-MONTH LOW Channel News Asia
After four months of declines, sales of private residential properties in Singapore increased in March by 25% MoM to 1,386.
CONSUMERS SLOW DOWN SHOPPING IN FEBRUARY Strait Times
S'pore retail sales dropped 3.6% MoM in February and 12.1% YoY.
CHINA ECONOMY GROWS MORE THAN FORECAST- 9.7% Bloomberg
China GDP in 1Q grew 9.7% YoY, while China CPI rose 5.4% YoY, beating expectations of 9.4% and 5.2%, respectively. Industrial production climbed 15% YoY in March; retail sales jumped 17% YoY; and producer prices gained 7.3% YoY.
Meanwhile, Industrial & Commercial Bank of China Ltd., the world’s largest lender by market value, said its bad-loan ratio is dropping and ruled out a worsening of asset quality from property and local government lending.