Savers stuck with bank deposits despite negative real rates

Bank accounts remain the most popular choice of investment for savers, despite inflation running higher than commercial banks’ deposit rates, said financial industry sources. Bank workers count cash in a branch in Yangon. StaffBank workers count cash in a branch in Yangon. Staff Sources at several commercial banks said there had been no decrease in […]

India to resume buying rice from Myanmar: traders

YANGON, Sept. 8 (Xinhua) — India will resume buying rice from Myanmar after suspension for three years, offering to import 500, 000 tons of rice from the Southeast Asian country, said a Myanmar rice traders organization Monday. Prices for the rice deal are under negotiation, said the Myanmar Rice Federation, adding that India’s offer to […]

Myanmar Gas Exports Worth $3.3Bln Last Year After Slight Drop

YANGON — Myanmar’s earnings from natural gas exports fell in the last fiscal year as more of the resource was consumed domestically but shipments of greater volumes to China as a new pipeline comes up to speed are expected to boost earnings this year. Myanmar earned $3.299 billion from the export of gas during the […]