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Dollar appreciation takes toll on domestic construction industry

Dollar appreciation is a drawback to local construction sector as the country has to import nearly 90 per cent of construction materials, said Ko Ko Htwe, Patron of Myanmar Construction Entrepreneurs Association and chair of Tawin Family Company, at a talk on the condominium law and challenges being faced by construction sector, at Pan Pacific […]

KBank in border staff swap with Myanmar lender

KASIKORNBANK (KBank) is joining with Myanmar’s biggest lender, Kanbawza Bank (KBZ Bank), on a staff exchange programme for the border cities of Mae Sot and Myawaddy. The initiative is part of efforts to boost trade across the border. The focus is on import-export settlements via banking system and promotion of cross-border funds transfer via the […]

Myanmar to hold pearl auction in Hong Kong to penetrate int’l market

YANGON, Feb. 22 (Xinhua) — Myanmar will hold its sixth International Pearl Auction in China’s Hong Kong Special Administrative Region starting Friday, the official Global New Light of Myanmar reported Thursday. In the three-day pearl auction with the aim of penetrating the international pearl market, Myanmar pearls of high value, produced from Myeik, the country’s […]

Myanmar moves to stave off credit crunch

NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]