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 […]

Thailand’s Buritara eyes Yangon in expansion plans

BURITARA DEVELOPMENT CO has set aside an investment budget of Bt2 billion to develop condominium projects in tourist destinations in Thailand, Myanmar and Laos this year and next. Half of that will be spent this year to develop three projects in Bang Saen and Pattaya, and the rest in 2015 to develop condo projects in […]

Gunkul eyes Thai, Myanmar power sectors

Gunkul Engineering plans to invest more than Bt12 billion (Ks 360 billion) over the next two years to develop wind-power plants in Thailand and gas-powered plants in Myanmar. This is part of the company’s strategy to transform itself from an importer and provider of electrical equipment into a power producer in Asean. It aims to […]

SingPost launches remittance services to Myanmar

Singapore Post (SingPost) has launched remittance services to Myanmar, it said on Wednesday. The post services provider is partnering four commercial banks in Myanmar, such as Asia Green Development Bank, Cooperative Bank, Kanbawza Bank and Tun Foundation Bank. SingPost said it is one of the first postal service provider in the world to offer remittance […]

Daiwa urges upgrades ahead of bourse launch

The domestic banking sector needs an upgrade, including a code of conduct, ahead of the launch of the stock exchange market, said Masahiro Ushiyama, senior managing director of consultants Daiwa Institute of Research Ltd (DIR), last week. The think tank will work with about 10 to 12 public companies, including banks, to assist the transition […]