THE M3: WAGE GROWTH; XI GETS SEAT; CHINA HIKES INTEREST RATES

The Macau Metro Monitor, October 19th 2010

 

HIGHER LABOR WAGES Macau Daily News

Industry observers noted that a severe shortage of construction labor in Macau has pushed wages higher.  In the past two weeks, the average daily wage for a steel fixer climbed to a record MOP 1,200 from MOP 800 and the average daily wage for a plasterer also hit a new high at MOP 800 from MOP 600.

 

XI JINPING GETS HIS SEAT Intelligence Macau

As expected,  Xi Jinping took over the deputy chairman position of the Central Military Commission. His pro-business connections should be positive for Macau.


PEOPLE'S BANK OF CHINA RAISED BENCHMARK DEPOSIT AND LENDING FINANCIAL INSTITUTIONS, INTEREST RATES PBOC

The benchmark deposit lending rate is increased by 25bp to 2.50%.  The one-year benchmark lending rate is also increased by 25bp to 5.56%.  Rates become effective tomorrow.


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