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ISSUE 118 - Feb 2014
 
 
The Macau property market is changing. Vote. What is your opinion on likely price fluctuations for the second half of this year?
Decline below -10 percent
Decline from 0 to -10 percent
Growth from 0 to 10 percent
Growth above 10 percent
 
 

Cross-border cash flow controls mooted: report


Posted: 7/5/2013 12:24:15 PM
Rating:     0% ( votes)
  

Financial Intelligence Office director Deborah Ng Man Seong says the government is considering a new arrangement for declaring cash when crossing the border, reports the Portuguese news agency Lusa.

Lusa quoted Ms Ng as saying the government was “analysing the feasibility of implementing a declaration or notification requirement” of certain amounts to meet recommendations by the international Financial Action Task Force on Money Laundering.

There is no schedule in place for introducing the changes.

Ms Ng said although money laundering was a crime here, there was no criminal sanction for failing to declare funds carried across the border or for lying to officials.

Beijing bans mainlanders from bringing more than RMB20,000 (MOP26,000) into Macau.



Other Macau Latest News

Bank operating profits keep climbing, paper says

Rise due to more deposits by outsiders, SME loans and cross-border business

Anti-graft drive to hit gaming harder, paper says

Business Daily predicts using telcos as spies will further harm VIP market

Govt soon to merge telecom regulator, post office

More of transport and public works secretary’s departments to merge in 2016

Paradise Entertainment issues H1 results warning

Gaming equipment maker expects loss due to higher costs, poorer customers
Headlines

Drops in shop and factory prices forecast for H2

But estate agent sees more interest in opening shops in residential areas

Govt to table catch-all anti-smoking bill

Measure may harm economy, but public health takes priority, official says

Commerce, industry to get 17 ha of reclaimed land

All reclamation zones will have land for tourism and leisure industries

One Oasis marketing man forecasts housing recovery

Predicts prices will rise 10-15 pct in H2, and more sales in 2015 than 2014

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