Sunday, May 01, 2016
The Myanmar Times
The Myanmar Times

Myanmar hits the sweet spot

Sugar traders continue to benefit from Myanmar’s strategic location as an Asian crossroads, with surplus Indian production feeding demand in China, though currency volatility is starting to cause some headaches.

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FMI increases capital to Yoma Bank

First Myanmar Investment (FMI) has increased its capital contribution to its subsidiary Yoma Bank by almost K9.6 billion, after accepting a loan facility from Bangkok Bank, said a company announcement yesterday.

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Rice famers demand financing fix

A recent state bank decision to increase loans to rice farmers by 50 percent in the coming monsoon season has not been well-received, with some paddy farmers calling for the troubled development bank to be privatised.

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Yangon chief minister to cut bridge tolls

The new chief minister for Yangon Region plans to reduce tolls at a major bridge linking the city’s largest industrial zones to its downtown area and ports, in a move that would make exports more competitive.

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Chinese firm to restart Myanmar’s only coal plant

A Chinese company is upgrading Myanmar’s only coal-fired power plant, with a view to resuming operations in late May according to officials from the Ministry of Electricity and Energy.

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Heavy rain destroys mango farms

Unseasonal storms last week that killed at least eight and destroyed thousands of houses have dashed the hopes of mango farmers by destroying swathes of farmland just as the export season begins for Myanmar’s most sought-after fruit.

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First Public Expenditure Review delves into state-spending

Myanmar's government has published its first ever Public Expenditure Review, which details recent ramp-ups in health and education spending and outlines a range of challenges to improving public spending.

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Rakhine traders ask funding for Bangladesh border zone

Rakhine businesspeople are asking the Union government to provide more than K1 billion to allow them to complete a trading zone on the border with Bangladesh by the end of the year.

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Yangon chief minister to strengthen tax system

The Yangon Region chief minister has outlined plans to strengthen the city’s taxation system by examining weaknesses in local business audits.

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Myanmar offshore exploration continues despite low oil prices

The exploration activities of international oil companies in Myanmar offshore are continuing as normal despite crude oil prices falling over 60 percent globally since mid-2014.

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