Myanmar’s plummeting currency has prompted a vicious circle of rising prices in the import-dependent economy, in which even export-driven companies face rising costs, say businesspeople. New laws and regulations are urgently needed to control the kyat, they said, which has fallen by more than 25 percent to the US dollar this year to K1300 yesterday, […]
After securing licence, Bangkok Bank to upgrade skills of Myanmar employees
October 9, 2014 by
After receiving preliminary approval for a banking licence in Myanmar, Bangkok Bank’s next step is to recruit 20-30 mainly local employees under its policy to strengthen the banking skills of local staff. Chaiyarit Anuchitworawong, executive vice president, said yesterday that the bank has 12 months to prepare before receiving a full commercial banking licence, but […]
Private banks boost savings interest rates
August 14, 2014 by
Some of the 22 local private banks are offering higher interest rates on saving accounts beginning this month. The Central Bank of Myanmar (CBM) recently changed the interest rate to control inflation. However, the interest rate for financing has not changed yet. The CBM raised the savings interest rate between 8-13 per cent based on […]
A Developer’s Dream: Housing for All
April 22, 2014 by
Yangon is a city abuzz with economic activity, as the world rediscovers one of the region’s most promising frontier markets after decades of isolation. With this, however, comes a growing housing crisis, as the city seeks to accommodate its rapidly expanding labor force. Government plans to build 30,000 new low-cost public housing units next year […]
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