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Gambling hub Macau set for major tourism boost

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2 years ago

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After a nearly three-year hiatus, China is finally allowing tour groups to visit Macau

Casino operators in China’s biggest gambling city are breathing a sigh of relief, as tourist groups have been given the green light to visit.

Businesses have been struggling since Beijing implemented a crackdown on corruption, and the Covid-19 pandemic battered the world’s biggest gambling hub.

Tourism is a major pillar of Macau’s economy, and the return of tour groups from China is expected to provide a much-needed boost to the city’s struggling gambling industry.

Tourists will need to apply for a visa to visit the region. The scheme itself was responsibly for around half of all Chinese visitors to the territory in 2019.

Shares in Macau casino operators soared up to 13 per cent after the e-visa scheme was placed back on the cards.

Gambling from mainland citizens accounts for around 90 per cent of casino revenue across the region.

Many of these businesses have been struggling since the crackdown began, and the return of Chinese tourists is expected to help them recover some of their lost revenue.

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U.S. Federal Reserve announce rate cut, show great confidence in economy

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2 hours ago

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September 19, 2024

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The Federal Reserve has delivered a big rate cut to boost the economy while inflation slows.

The central bank slashed interest rates by a half percentage point, hoping to protect the job market while inflation inches closer to its 2% goal.

Fed Chair Jerome Powell says the decision reflects growing confidence in balancing the economy’s growth with low inflation. #featured #trending

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Money

Markets brace for potential 50-point fed rate cut

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2 days ago

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September 17, 2024

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Markets are anticipating a significant 50-point rate cut from the US Federal Reserve this week, leading to heightened focus on bond markets and key economic reports.

Financial markets are focused on a potential 50-point rate cut by the US Federal Reserve, as investors anticipate major shifts in economic policy.

The bond markets, already pricing in a borderline hard landing, reflect the expectation of a significant easing cycle over the next two years.

However, experts caution that the Fed could disappoint, as the current economic conditions differ from previous events such as the pandemic or credit crises. #featured #trending

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Bitcoin’s Q4 outlook: key factors and upcoming milestones

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3 days ago

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September 16, 2024

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Insights into market trends and critical events shaping Bitcoin’s performance

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, Caroline speaks with Matt Willemsen, Head of Research & Content at Collective Shift, about what could drive Bitcoin’s strong performance in Q4. They explore how the current market differs from past cycles, the ongoing Solana vs. Ethereum debate, and the role of project-specific conferences in market trends. Matt previews key Q4 events, including the Solana Breakpoint conference and upcoming altcoin milestones like Uniswap v4 and Polygon 2.0. #crypto corner

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