fbpx

Textiles a key focus of trade push between Myanmar and Taiwan

SEEKING to build on the rapid growth in trade between Taiwan and Myanmar, industry bodies from the two sides have signed two memorandums of understanding at a Taiwan-Myanmar Industrial Collaboration Summit. Myo Thet, vice president of the Union of Myanmar Federation of Commerce and Industry (UMFCCI), said the agreements would help boost bilateral economic ties, […]

Myanmar urged to fix key issues for industrial revamp

MYANMAR’S potential to become a regional investment hub would be realised only if the government manages to address major challenges businesses are facing in the nation, a banking expert has warned. Than Lwin, a senior consultant at KBZ Bank Ltd and former deputy governor of the Central Bank of Myanmar (CBM) stressed the importance of […]

Tussle over Myanmar bank reform puts spotlight on debt pile

NAYPYITAW (Reuters) – Myanmar’s central bank has backed off from a demand that the country’s private banks clear most of their loan books by January, averting a cliff-edge scenario that some bankers warned could have destabilized the financial system. Myanmar’s central bank deputy governor, Soe Thein, told Reuters that three years – instead of the […]

Myanmar Business Leaders Bullish on Future Under Suu Kyi-

TOKYO — Business leaders in Myanmar are confident in the country’s future under the National League for Democracy government headed by de facto leader Aung San Suu Kyi, although they say improvements in infrastructure and the banking sector are needed to assure growth. Speaking at a Myanmar economic forum sponsored by Nikkei Inc. in Tokyo on […]

Myanmar forest-cutting continues despite government efforts

PINLEBU, Myanmar (AP) — The hills of northern Myanmar’s Sagaing region were so legendarily thick with forests that in the days of kings, condemned criminals were ordered into the woods as a death sentence. Today illegal logging has left vast swaths of bare patches, with only a handful of old-growth stands. Despite a temporary ban […]

Louder calls for more spending on education sector

Several businessmen and politicians have agreed that Myanmar should urgently increase spending on education and health, which, despite increases in recent years, remains the lowest in Asean. During a recent parliamentary discussion on the 2015-16 budget bill, MP Maung Toe said: “Although the education budget has increased, it’s still low. There is still no adequate, […]

Myanmar’s Leading Private Banks to Raise Saving Rates

YANGON — Some of Myanmar’s leading private banks are set to raise interest rates on savings accounts in the hope of attracting new savers, according to Bankers. Four of the country’s 20 private banks—Kanbawza (KBZ) Bank, Asia Green Development Bank, CB Bank and Myanmar Apex Bank—are said to be planning to set rates for savings […]

Myanmar Govt May Let Foreign Banks Operate This Year

YANGON — Some foreign banks may be allowed to operate in Myanmar later this year although initially they will only be allowed to have branches in certain areas and offer a limited range of products, government and banking sources said on Tuesday. “The president last week formed a committee to choose five to 10 out […]

Myanmar may let foreign banks operate this year: Sources

YANGON — Some foreign banks may be allowed to operate in Myanmar later this year although initially they will only be allowed to have branches in certain areas and offer a limited range of products, government and banking sources said on Tuesday. “The president last week formed a committee to choose five to 10 out […]

Burma’s Central Bank Expected to Submit Monetary Policy

RANGOON — Burma’s Central Bank is expected to submit a new monetary policy during Parliament’s next session, which begins late this month, a lawmaker said. The Central Bank is currently working on a plan to allow foreign banks to operate in the country, a central part of the government’s reforms to modernize the long-isolated financial […]