Category Archives: Macau

After seeing sales of medical masks soar during the Covid-19 pandemic, US manufacturer 3M warned Monday that demand is expected to slow sharply this year.

The warning echoes that of other companies like vaccine-maker Pfizer and the CVS drugstore chain that have said pandemic-related sales are likely to soften.

After Covid-19 broke out in 2020, 3M, a conglomerate that makes a wide range of products from Post-it notes to air filters, quickly ramped up output of face masks, which became ubiquitous.

But in its quarterly earnings report Monday, 3M forecast a decline in Covid-related respirator demand which it said will weigh on overall sales growth and also dampen earnings.

Honeywell in early February said it sold fewer masks in the fourth quarter compared to the same period in 2020, and sees the slowdown continuing this year, hitting the companys overall sales.

Pfizer, whose vaccine developed with German company BioNTech was the first approved in the United States to counter the deadly virus, warned last week that sales of the jabs would slow in 2022.

But the US pharmaceutical group expects to see sales of its Covid-19 treatment pill to jump to at least $22 billion.

Meanwhile, CVS, which conducted 32 million Covid tests and administered more than 59 million vaccines in 2021, said last week it is expecting vaccinations to drop by 70 to 80 percent and testing to fall by as much as 50 percent.

CVS Chief financial officer Shawn Guertin told analysts the chain should see a modest uptick in sales of over-the-counter test kits.

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3M expects to sell fewer Covid-19 masks this year - Macau Business

Francesco Friedrich was on course to retain his two-man bobsleigh Olympic title and add to his impressive collection of victories this winter as the German took a slender overnight lead after Mondays heats.

Friedrich set a new course record in the opening heat on his way to clocking a fastest combined time of 1min 58.38sec for Mondays two heats in Yanqing, north of Beijing.

However, his overnight lead is just 0.15sec after German team-mate Johannes Lochner was fastest on the second run.

Friedrich remains the favourite having won 14 of his 16 World Cup races this winter.

He (Friedrich) wins everything, right? So obviously people would consider him the one to beat, Canadian pilot Justin Krips, who sits tenth, said in training.

The 35-year-old shared two-man gold with Friedrich at the 2018 Pyeongchang Olympics after both clocked exactly the same time.

I think they also considered him the one to beat going into 2018, and hes even more dominant now, added Krips.

Friedrich is seeking to defend his two and four-man titles from four years ago.

If he takes two-man gold in Tuesdays final heats, it will mean German racers have won seven of the eight events at the Yanqing National Sliding Centre.

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'He wins everything' Friedrich on track in Beijing two-man bobsleigh - Macau Business

Germany must act immediately to prevent the hanging of a national detained in Iran who risks the death penalty on charges vehemently denied by his supporters, his family and activists said on Monday.

Anti-regime activist Jamshid Sharmahd, 66, appeared in court in Tehran earlier this month charged with spreading corruption on earth over accusations of involvement in a bombing at a mosque in 2008.

If convicted on this charge, which campaigners say is often used against opponents of the government, he could face execution.

It is of the utmost importance that the German federal government act immediately to prevent the planned state assassination of Mr Sharmahd, his daughter Gazelle and more than two dozen other activists said in an open letter to German Foreign Minister Annalena Baerbock.

We urge you to take immediate, serious and sustained action to save the life of the 66-year-old German citizen and his family from this horrific act, said the signatories, who included former detainees in Iran and family members of those still held.

Sharmahds family say that he was abducted by the Iranian security services in 2020 while in transit in Dubai and then brought under duress to Iran.

He is affiliated withan anti-regime group known as Kingdom Assembly of Iran and had been based in the United States.

The family fears he risks a similar fate to France-based Ruhollah Zam, who was executed in December 2020 after leaving Paris in October 2020for Iraq, where supporters say he was detained by Iran.

The lettersaid the family was very concerned for the health of Sharmahd, who was now severely emaciated.

It noted that his trial is presided over by Abolqasem Salavati, the same judge who had sentenced Zam to death.

We urge that the matter be given top priority, that a crisis management team be set up, and that the German government exhaust all political and diplomatic avenues to put pressure on the Islamic Republic of Iran, said the letter.

A general condemnation of the death penalty and a call to respect human rights are not enough.

Sharmahd is one of over a dozen Western nationals including American, Austrian, British, French and German citizens still held in Iran as talks to revive the 2015 deal over Tehrans nuclear drive reach an acute phase.

Iran accuses Sharmahdof being involved in the April 12, 2008, bombing of a mosque in Shiraz in southern Iran, which killed 14 people.

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Germany urged to save citizen risking execution in Iran - Macau Business

London The peripatetic life of the 19thcentury Irish painter George Chinnery (1774-1852) took him from the Tipperary of his birth to London, then to Serampore in West Bengal via Madras, Calcutta and Dacca. Fleeing his creditors, he arrived in Macau in 1825 and made the island his home until his death in 1852. He became fascinated by the artistic possibilities of Macaus shoreline and the local tradespeople going about their everyday lives.One of his paintings on this theme,A Tanka boat dwelling with Tanka boatwomen and pigs, Macauleads the Travel and Exploration sale in Knightsbridge on Wednesday 2 March. It is estimated at 15,000-20,000.

Rhyanon Demery, Bonhams Senior Picture Specialist, said: A Tanka boat dwelling with Tanka boatwomen and pigs, Macauvividly depicts members of the Tanka people a distinct and ancient ethnic group who lived along the shore of Macau. Often viewed as outcasts by the Chinese authorities Tankas lived on junks,tankbeing the Cantonese word for boat andkathe word for family. Today they are more usually known as Boat People and, although many have now built lives on dry land, they preserve the unique culture that so captivated George Chinnery nearly 200 years ago.

Other highlights of the sale include:

Elsewhere in the sale there is a wealth of interesting lots associated with polar exploration.

Highlights include:

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Chinnery's Tribute to Tanka People of Macau Leads Bonhams Travel and Exploration Sale - Martin Cid - Martin Cid Magazine

Former US vice president Mike Pence said Friday that he had no right to overturn the 2020 election and former president Donald Trump was wrong to claim he could have done so.

Pence dismissed Trumps assertion he could have blocked Democrat Joe Bidens victory when he presided over the January 6, 2021 certification by Congress of the presidential election results.

President Trump said I had the right to overturn the election but President Trump is wrong, Pence said in a speech to the conservative Federalist Society in Florida.

I had no right to overturn the election, he said. The presidency belongs to the American people and the American people alone.

And frankly there is no idea more un-American than the notion that any one person could choose the American president, he added.

Both Pence and Trump are potential presidential candidates in the 2024 election, and their public disagreements are seen as early maneuvering in the race to become the Republican Party nominee.

Trump, who has falsely claimed the election was stolen and marred by fraud, said in a statement last weekend that Pence, as presiding officer, could have overturned the Election.

Pence has said previously that he did not have the power to block certification, but Fridays comments were his most forceful to date.

Pence told the Federalist Society conference that he did his constitutional duty.

There are those in our party who believe that as the presiding officer over the joint session of Congress that I possessed unilateral authority to reject Electoral College votes, Pence said.

Under the Constitution, I had no right to change the outcome of our election.

And Kamala Harris will have no right to overturn the election when we beat them in 2024, Pence said in a reference to Bidens vice president.

Pence a staunch loyalist when Trump was in office also called the January 6 assault on Congress a dark day in the history of the United States Capitol.

Five people died when Trump supporters stormed the Capitol following a speech by the then-president during which he repeated his false claims to have won the election.

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Former VP Pence rejects Trump claim he could have overturned election - Macau Business

Germanys daily COVID-19 infections reached a new all-time high, with 248,838 new cases registered within 24 hours, the Robert Koch Institute (RKI) for infectious diseases said on Friday.

The countrys seven-day COVID-19 incidence also continued to rise and hit a new record of 1,349.5 infections per 100,000 inhabitants, according to the RKI.

The Omicron wave is slowly reaching the elderly population and more outbreaks are being reported in nursing homes, the RKI said on Twitter.

Despite record figures, the number of COVID-19 patients treated in intensive care units (ICUs) remained at around 2,300, far below the peak of around 5,700 during the height of the second wave in early 2021, according to the German Intensive Care Availability Register (DIVI).

Studies suggest that the Omicron variant causes a lower share of hospitalizations compared to infections with the Delta variant in infected persons with complete vaccination or booster vaccination, the RKI said in its latest weekly report.

So far, more than 74 percent of Germanys population had been fully vaccinated. A slight majority of Germans, or 53 percent, continued to be in favor of mandatory COVID-19 vaccination for all adults, according to a DeutschlandTrend survey published by broadcaster ARD on Thursday.

Meanwhile, Minister of the Interior Nancy Faeser said Friday that the government had made contact to the top management of the international messaging service Telegram to discuss hate speech on the platform.

In an initial constructive discussion on further cooperation, we agreed to continue and intensify the exchange, Faeser said on Twitter.

The messaging service caught the attention of German authorities after radical opponents of the countrys COVID-19 policies organized themselves via the platform. The Federal Criminal Police Office (BKA) set up a task force last week to identify and prosecute suspects.

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Germany's daily COVID-19 infections near 250,000 amid Omicron wave - Macau Business

On World Cancer Day this Friday, the World Health Organization (WHO) called for the gap in the availability of cancer care in high and low-income countries to be addressed.

Globally, cancer is one of the leading causes of death, with an estimated 20 million people diagnosed and 10 million deaths from the disease in 2021, the WHO said.

These numbers will continue to rise in the decades ahead, it noted.

Though all cancers can be treated and many can be prevented or cured, available care reflects global inequality. Comprehensive treatment is available in more than 90 percent of high-income countries, but less than 15 percent of low-income countries, WHO said.

Cancer services are covered by national healthcare services in only 37 percent of low- and middle-income countries, compared to at least 78 percent of high-income countries.

WHO highlighted the role of national cancer centers, saying they can be a one-stop shop for prevention, diagnosis, multidisciplinary treatment and supportive care, which makes it easier for patients to navigate services with concentrated expertise, and leads to better results.

Radiotherapy is among the most cost-effective, efficient and widely-used treatments for cancer, but worldwide access remains inadequate. Due to the COVID-19 pandemic, many countries have also experienced disruption to cancer screening and treatment, WHO noted.

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WHO calls for global inequality in cancer treatment to be addressed - Macau Business

183 Macau-invested enterprises have set up in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin since the inauguration of its administrative organizations, a year-on-year increase of 32.55%, according to a forum held earlier this year.

As of now, there are a total of 4,744 Macau-invested enterprises in the Zone, covering 17 major industry sectors of the national economy.

By the end of 2021, about 10,000 tech enterpriseshadregistered in the zone, among which there arenearly 800 Macau-fundedorganisations, 328 national-level high-tech companies, and 18 national and provincial technology innovation platformsincluding techcompanyincubators and newtype ofR&Dinstitutions.

Besides, the registered enterprises in the Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation between Guangdong and Macau, have amounted to 216, 52 of which are from the SAR. Also, 25 projects in the Guangdong-Macau Cooperation Industrial Parkhavecommencedconstruction.

Data from the statistics bureau of the zone shows that, from January to November of 2021, the general public budget revenue of the zone hit9.868 billionyuan, an increase of 11.1% year-on-year. Its fiscal revenue has reached 1.576 billion yuan after the establishment. Moreover, its GDP in the first three quarters of 2021 stood at 33.269 billion yuan, increased by 9.1% over the previous year.

Earlier this week, the zone announced that Macau residents who work full time in Hengqin are eligible for a subsidy of up to RMB12,000 for not more than 36 months and a one-time bonus of RMB50,000.

In the document issued, Macau residents with a bachelors degree can receive RMB7,000, those with a masters degree can receive RMB9,000 and those with a doctoral degree, RMB12,000.

The subsidy, according to the document, aims to enhance the benefits for Macau residents in the cooperation zone, as well as encourage employers to recruit Macau residents for employment.

Meanwhile, according to Nie Xinping, director of the Hengqin Office of the Guangdong Provincial Peoples Government, in 2022, the zone will take the lead in innovation of key areas and links of the reform and opening up. It will provide better policy support and make every effort to develop new technology, new industry, new business forms and models, so as to create an international business and living environment and offer broad development space for everyone to start up businesses as well as work and live here.

The zone will also launchpolicies and measures to support the development of Macau enterprises likethe cross-boundaryoperation of commercial registration. Also, it sticks tomakinggood use of central financial assistance support,acceleratingthe formulation of a catalogue of industries enjoying preferential corporate income tax policies, and refined preferential personal income tax measures.

To perfecta talent protection mechanism, the zone is formulating an overallplan for talent development, a catalogue list of high-end and urgently-needed talent, compiling trial management measures for occupation record of overseas professionalsand a list of overseas qualifications. It is also acceleratingthe implementation of the double 15% income tax preferential policy.

The introduction of talent has to be combined with industry, and alsowith the talent plan that Macaois now ready to implement, said Secretary for Economy and Finance Lei Wai Nong, who also acts as the director of the Executive Committee of the zone. MDT/NewsGD

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Cooperation zone sees increase of 32.55% Macau-invested firms after inauguration - Macau Daily Times

Traffic flows past gaming resorts at Cotai Strip in Macau, China May 15, 2018. REUTERS/Bobby Yip

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HONG KONG, Jan 14 (Reuters) - The number of new casino operators allowed to operate in Macau, the world's largest gambling hub, will continue to be limited to six concessionaires but their operating period will be halved to 10 years, the government said on Friday.

The announcement, which has been long awaited by casino executives, investors and analysts, puts an end to concerns that the government would change the status quo for the number of operators in the Chinese controlled territory.

The former Portuguese colony is the world's biggest gambling hub in terms of money wagered.

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It massively tightened scrutiny of casinos in recent years, with authorities clamping down on illicit capital flows from mainland China and targeting underground lending and illegal cash transfers.

A casino executive familiar with the legislation said the government decided not to proceed with the proposal for a government official to directly supervise the casinos after feedback from the operators.

The licences of the six operators, Wynn Macau (1128.HK), Sands China (1928.HK), MGM China (2282.HK), SJM Holdings (0880.HK), Galaxy Entertainment (0880.HK) and Melco Resorts , are all due to expire in June this year.

Shares of U.S. casino companies Las Vegas Sands Corp and Wynn Resorts Ltd (WYNN.O) jumped 10%, while MGM Resorts International was up 4%before the opening bell. U.S.-listed shares of Melco were up 12%.

The government said all existing or potential operators need to apply through a new tender process. It did not detail when operators will have to bid or whether the current licence term will be extended, according to a notice posted on its website.

Casino operators must increase the amount of capital to 5 billion patacas ($623.67 million) from 200 million patacas and increase the requirement for a Macau based director of the company to hold 15% from 10%.

Macau's casino stocks lost billions in market value last September ahead of a 45-day public gaming consultation to gage public consensus over new licences.

The consultation focused on nine areas including the number of licences, employee welfare, as well as introducing government representatives to supervise day to day operations at the casinos.

Beijing, increasingly wary of Macau's acute reliance on gambling, has not yet indicated how the licence rebidding process will be judged. To appeal to authorities, operators have tried to bolster their corporate responsibility and diversify into non-gaming offerings.

($1 = 8.0170 patacas)

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Reporting by Farah Master and Twinnie Siu; Editing by Jason Neely, Kim Coghill and Alison Williams

Our Standards: The Thomson Reuters Trust Principles.

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Macau keeps casino licences limited to six, halves duration - Reuters

Japans number of daily COVID-19 cases stood at 22,045 on Friday, surpassing 20,000 for the first time since Sept. 1, according to data compiled from reports by prefectural governments.

The data also showed that it took only two days to reach the current level after surpassing 10,000 daily infections nationwide.

Tokyo logged 4,051 new cases on Friday, topping 4,000 for the first time since late August, while Osaka Prefecture reported 2,826 cases.

Osaka Governor Hirofumi Yoshimura said that he is considering asking the central government to impose a quasi-state of emergency in the western prefecture if its occupancy rate of hospital beds for COVID-19 patients, which stood at 21.5 percent as of Friday, reaches 35 percent.

Okinawa Prefecture marked 1,596 infections on Friday and has been under a quasi-state of emergency since last Sunday.

A quasi-emergency enables governors to request dining establishments to shorten business hours and stop serving alcohol.

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Japan confirms over 20,000 daily COVID-19 infection cases - Macau Business