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The Macau Metro Monitor, July 26, 2011

OVER 85,000 IMPORTED WORKERS IN MSAR Macau Daily Times

According to the Macau Human Resources Office, in June, the number of non-resident workers totaled 85,273, a total of 1,234 more compared with May.  Mainland China continued to be the main source of imported labor, with 1,000 additional workers in June to 48,741.  The entertainment, gaming and hospitality sectors hired the most foreign workers during the reporting period, absorbing a total of 24,738 people.

PANSY HO INCREASES STAKE IN SHUN TAK WSJ

Managing director Pansy Ho bought 36,285,523 shares of Shun Tak from her father at market price on Thursday, raising her stake in the company to 12.67% from 11%.  The purchase is valued at HK$177.4 million (US$22.8 million).  Shun Tak said the share purchase will not have any impact on any aspect of the affairs of the company.

MGM CHINA LOOKING TO INVEST IN TAIWAN Macau Business

Pansy Ho said, “The likelihood of [MGM China] investing in Taiwan is pretty high because now is a good time,” in a reference to Taiwan’s recent opening to individual tourists from the mainland.  “The investment plans will target hotels, as well as travel- and service-related businesses,” she said.

INFLATION "LIKELY TO INTENSIFY": MONETARY AUTHORITY Macau Business

The Monetary Authority of Macau said that inflation is likely to intensify for the reminder of 2011.  For 2011, it estimates the inflation rate to reach a level slightly above 5.0%.  Inflation increased by 5.13% YoY for the first half of 2011.