News

The Monetary Authority of Macao (AMCM) notes the latest news reports in relation to the Democratic People’s Republic of Korea related accounts (DPRK accounts) at Banco Delta Asia. AMCM and the parties concerned analyzed and reviewed the information provided by the United States Department of the Treasury last week in regards to their investigation on the DPRK accounts. As regards the treatment of the DPRK accounts, the process will be in accordance with the instructions of the account holders.
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From this coming September, the US Chinese food chain P.F. Chang’s will introduce Macanese food in the menus of its 155 restaurants. Company managers announced the launch date of the promotion during their visit to Macau last week. Between September and December 2007, the 17 million customers of the casual dining restaurant chain will have a choice of four to five Macanese dishes. Portuguese wine will be recommended to complement the food. The Macanese food promotion is integrated in a project of the P.F. Chang’s chain to introduce to the Americans the diversity of food from the different regions of China. “After starting the series of Chinese regional cuisine promotion with Sichuan food, followed by Yunnan food, Macanese gastronomy was a natural choice to come next, for being so different, with its mix of flavors so distinct, but that makes so much sense”, points out P.F. Chang’s executive-chef Bob Tam. P.F. Chang’s is working on a list of dishes among which four or five will be chosen. According to the Hong Kong born Bob Tam, African Chicken is already a favorite. After the promotion, some of the Macanese dishes might make it to the permanent menu of P.F. Chang’s restaurants, depending on the success of the campaign among their clients. Around two thirds of the menu of P.F. Chang’s is Cantonese food, unchanged since the opening of the first restaurant of the chain, back in 1993. The Macanese food promotion in P.F. Chang’s is named “Taste of Macau” and it is organized with the cooperation of Macau Government Tourist Office’s US representative.
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The Secretary for Economy and Finance, Mr Francis Tam Pak Yuen, today expressed his deep regret over the US Treasury Department designating Banco Delta Asia (“BDA”) as a financial institution that has laundered money. He stressed that the Macao Government would continue to act accordingly in the interest of and to protect depositors. When asked by reporters, Mr Tam said the Macao Government has confidence to maintain the banking market stability. He also revealed that, according to the investigative report by an independent auditor outside the Macao Monetary Authority of Macao, no evidence related with illegal activity has been found. He said the Monetary Authority of Macao has done much over the past 18 months, such as strengthening the BDA's internal management, establishing an office for financial information, which achieved recognition with the United States and international organisations. Mr Tam said he believed the Monetary Authority of Macao would continue to closely monitor financial activities of banking institutions.
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The Executive Council today discussed two administrative orders regarding the structure of the Macao Economic and Trade Office to the European Union and the change in name of the Macao - China Economic and Trade Representive Office in Portugal, personnel regime and logo. According to the administrative orders, the two overseas offices are renamed "Macao Economic and Trade Office to the European Union in Brussels", and "Macao Economic and Trade Office in Lisbon" respectively. Mr Tong Chi Kin, spokesman of the Executive Council, said it was necessary to amend the scope of duty and rules for employment of the Macao Economic and Trade Office in European Union, which was established in 1999. Duties of the Economic and Trade Office to the European Union in Brussels include establishing closer bilateral economic relationship amongst Macao, EU and its member countries. The offices, which are under the supervision of the Chief Executive, enjoy administrative autonomy. They also enjoy the right to employ people from Macao or from the countries where the offices are based. There are two other offices set up outside Macao -- the Office of the Macao Special Administrative Region in Beijing, and the Macao Economic and Trade Office to the World Trade Organization..
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Lately, the Treasury Department of the United States of America has designated Banco Delta Asia (“BDA”) as a financial institution that has laundered money, to which MSAR Government (the “Government”) expresses its deep regret. In view of the designation of BDA as a financial institution of primary money laundering concern by the U.S. Government on 15 September 2005, the Government, in accordance with provisions of relevant legislation, swiftly adopted a series of measures, and closely mooted on the matter with relevant parties with a view to resolving the incident satisfactorily. As a consequence of recent development, the Government has decided to extend its intervention regime applicable to BDA with a view to safeguarding the benefit of depositors and maintaining market stability. Simultaneously, the Government will continue to closely moot on the matter with relevant parties so that the incident can be resolved at an earlier date. On the other hand, the Government will persistently strengthen the enforcement and supervision of measures to combat money laundering and ensure the continued proper functioning and effective risk management of financial institutions. The Government believes that the relevant policy and measures will be supported by all sectors and citizens of our community which will no doubt promote the stability and healthy development of our financial system.
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The Monetary Authority of Macao (AMCM) is aware of the latest announcement on a final rule concerning Banco Delta Asia as a ‘primary money laundering concern’. Regarding the decision of the United States Department of the Treasury, AMCM expresses its deep regret. The MSAR Government will soon make an official response. In response to the development, Banco Delta Asia will continue to be under the management of the MSAR Government. Under any circumstances, the MSAR Government will take necessary measures to protect the interests of depositors and safeguard the stability of the financial system.
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To celebrate the World Forest Day, Macao Post announced that a Temporary Post Counter will be set up at Senado Square, at 9H00 to 18H00 on 21st March 2007 providing the commemorative cancellation service for the “World Forest Day”. A commemorative envelope will be distributed to public, and various philatelic products will also be available for sale during the above activity. Besides, Macao Post will distribute the above-mentioned envelope on 14th to 20th March 2007 at Macao Post Headquarters and all post offices. Welcome to visit and collect Macao Stamps.
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The Macao Special Administrative Region Gazette today announced the establishment the Office for the Protection of Personal Data, effective today The Office, under the supervision of the Chief Executive, consists of a director and a subdirector, and will be responsible for making the relevant regulations and the monitoring of the execution of such regulations.
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The stability of Macao’s financial sector and depositors’ rights would be protected when the Government announces a solution to the Banco Delta Asia incident in the future, the President of the Monetary Authority of Macao, Mr Anselmo Teng, said today. A press release issued today by the Authority quoted Mr Teng as saying that the Government had been making great efforts in dealing with the incident and had been keeping in close touch with representatives of the Government of the United States of America. An administrative committee, whose members were appointed by the Government, is currently running Banco Delta Asia. The committee’s duty would cease at the end of this month and the Government would consider whether it is necessary to extends its term.
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Macau received the Future Award 2007, for being considered the most promising future tourism destination in Asia, voted by 26,000 German travel trade members of GoAsia. The result was announced during ITB Berlin, the world’s leading travel trade show, that closed Sunday at the German capital. “The GoAsia Awards are very prestigious. Macau being chosen among so many other possibilities is a great honor for us. The award shows that the German travel trade is aware about the changes going on in Macau”, said Macau Government Tourist Office deputy director, Maria Helena de Senna Fernandes, head of the Macau delegation to ITB. The winners were voted on-line by GoAsia members, an association that includes tour operators, airline companies, among many others. The Future Award category was given this year for the first time. “This new category is to reward those who innovated. Macau was able to transform completely its tourist offer, with its European roots it is acquiring a very modern face”, pointed out Frank Grafenstein, communications director of GoAsia, during the ceremony held Friday on the sidelines of ITB. Other categories of the GoAsia annual awards include the Best Tourism Board, Best Travel Agency, Best Airline Company and Best Destination in Asia. GoAsia was created in 2003, after SARS to regain the trust of German tourists – known as the “World champions of travel” – to visit Asia.
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