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THE M3: ADELSON SPAIN PLANS; TWO NEW SANDS EXECS; STRENGTHEN S'PORE DOLLAR

The Macau Metro Monitor, July 26th, 2010

GLADEN'S TIDINGS HVS Madrid

According to HVS Madrid, Adelson plans to invest more than €8 billion in a mixed-use tourism development in Spain.  He has begun talks with Spanish authorities over possible locations in Madrid or Barcelona.


SANDS CHINA: TWO NEW EXECUTIVES ON THE WAY Macau Daily Times

LVS's President and COO, Michael Leven, said that the new executive vice president and chief casino officer, along with the new president and chief operating officer of Sands China will arrive on August 10.  Leven has been named Sands's acting CEO and currently serves as a special adviser to the Sands China Board of Directors.  According to MDT, Stephen Weaver, who will serve as an adviser to Leven, does not seem interested in the CEO position.

SINGAPORE MAY REQUIRE FURTHER 'CALIBRATION' OF MONETARY POLICY, IMF SAYS Bloomberg, AFP

Owning to signs of Singapore's inflation accelerating, the IMF believes the Singapore dollar appears “somewhat weaker” than its medium-term equilibrium level.  “The return to a modest and gradual appreciation of the Singapore dollar in nominal effective terms is consistent with internal and external stability,” the IMF said. “Directors pointed out that changes in the outlook for growth or inflation warrant vigilance and could call for a further recalibration of monetary policy in the period ahead.”  On April 14, the Monetary Authority of Singapore (MAS) allowed a revaluation and shifted to a stance of gradual appreciation.

Singapore's monetary policy is conducted via the local currency, which is traded against a basket of currencies of its major trading partners within an undisclosed band known as the nominal effective exchange rate.