Tuesday, January 24, 2017
The Myanmar Times
The Myanmar Times

Uber and licensed cabs to replace Yangon taxi turmoil

Now that the new Yangon Bus Service is underway, the regional government is turning its attention to the city’s taxis, and is hoping to have a system of licensed cabs to run side-by-side with Uber drivers, according to chief minister U Phyo Min Thein.

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Commerce ministry cracks down on unreported export earnings

The Ministry of Commerce is working with the Central Bank to crack down on unreported export earnings, according to Union minister U Than Myint.

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First Myanmar-assembled Nissan cars go on sale

Tan Chong Motor Myanmar launched the first Nissan model assembled locally last week.

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First Private Bank shares plunge

First Private Bank (FPB) became the first Yangon-listed company to watch its shares fall immediately after listing.

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Central Bank plans level playing field for foreign payment firms

CB Bank and KBZ have both partnered with Visa following the Central Bank’s decision to allow foreign payment firms to operate independently in Myanmar. But the Central Bank has clarified that this is a select response to requests from four specific firms, not an official shift in policy.

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Tax cut planned for low-cost housing purchases

The government is planning to drastically reduce the taxes it levies when people purchase state-commissioned low-cost housing, which developers say puts many units out of reach for ordinary buyers.

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Trade groups raise traffic concerns as Yebu gate reopens

The Yebu border trade inspection gate on the Lashio-Muse road has reopened for the first time in over five years as the government tries to honour a commitment to ending illegal trade. But inspecting hundreds of vehicles at a single small gate has resulted in serious traffic problems, say traders and local trade bodies.

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Sembcorp takes another step on Myingyan project

Singaporean energy firm Sembcorp signed a build-operate-transfer (BOT) agreement with Myanmar’s energy ministry yesterday for the Myingyan power plant, a high profile energy project expected to receive loans from a variety of international lenders.

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Yangon govt promises YBS improvements

The new Yangon Bus Service’s (YBS) second day went better than the first with 80 percent of buses properly labeled and on the roads, according to transport officials. But Yangon Chief Minister U Phyo Min Thein, who enjoyed a ceremonial ride on the new system, said there was still too much variation in how fares are collected.

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Yangon Region to get agricultural master plan

A two-day workshop that will help provide the foundations of a master plan for Yangon Region’s agricultural industry kicked off yesterday.

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