The Myanmar Times
Saturday, 25 April 2015
The Myanmar Times
The Myanmar Times

First foreign banks in Myanmar herald possible sector shake-up

This week’s arrival of the first three foreign banks to be allowed to open branches in Myanmar has already signalled a possible shake-up of the banking sector, with Japan’s Sumitomo Mitsui Banking Corporation expressing interest yesterday in eventually acquiring a minority stake in Kanbawza (KBZ), Myanmar’s largest lender.

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Singapore OCBC opens

Singapore’s Oversea-Chinese Banking Corp (OCBC), which also opened a Yangon branch yesterday, sees its growth coming from collaboration with several Myanmar partners rather than relying on one local lender.

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Construction booms but clouds gather

The apparent boom in Yangon construction conceals increasing complexity, as stricter regulation combines with aggressive speculative practices to create a difficult environment for contractors and would-be homeowners alike, industry sources say.

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First foreign bank to open branch in Yangon says long-term view is key

The first of three foreign banks to open branches in Myanmar this week – Bank of Tokyo-Mitsubishi UFJ (BTMU) – says there is no turning back for economic reforms and that patience is the key for success.

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ADB returns after 25 years

After a 25-year absence, the Asian Development Bank has returned and is full of optimism for a challenging future, even if progress may come in fits and starts.

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Singapore leads as foreign investment in Myanmar doubles

Foreign investment in Myanmar nearly doubled last year compared to the previous year, it was announced yesterday. Overseas investors poured more than US$8 billion into the country, creating 150,000 jobs, said the Directorate of Investment and Company Administration (DICA).

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Sugar prices rise in Yunnan province

Demand for sugar in China’s Yunnan province has risen to K1030 a viss, or about US$600 a tonne, since the end of the Thingyan holiday, exporters say.

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Land prices near Hanthawaddy airport project fall pre-election

A mixture of political uncertainty and scepticism has cooled once torrid demand for land around the future Hanthawaddy International Airport project, say local real estate agents.

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Pun Hlaing Hospital gets injection of capital and ideas

IT has been open for more than nine years, but Pun Hlaing Hospital is yet to turn a profit for First Myanmar Investment’s shareholders.

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East Dagon sees boom

Boom times are coming to what was, not long ago, one of Yangon’s forgotten townships.

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