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ISSUE 139 - Nov 2014
The Macau property market is changing. Vote. What is your opinion on likely price fluctuations for the second half of this year?
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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.

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Macau slump fails to spoil Kingston Financial’s H1

HK business boosts net profit even though Macau casino, hotel revenue drops

Q3 retail sales shrink 7.7 pct to MOP14.61 bln

Watch, clock and jewellery sales plunge, as do sales of cars, leather goods

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Govt to keep political system mainly unchanged

But administration secretary promises tweaks in the way elections are held

Govt to invite bids to take over work on LRT depot

Public works secretary to give details of original contractor’s kiss-off

Q3 visitor spending shrinks to MOP12.47 bln

Contracts by nearly one-fifth as tourists from mainland become thriftier

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