The Myanmar Times
Friday, 29 May 2015
The Myanmar Times
The Myanmar Times

First foreign insurance licence given for Thilawa

A japanese firm has been granted the first licence to a foreign company to run insurance in Myanmar.

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Marubeni inks MoU for country’s largest gas plant

Japan's Marubeni Corporation will conduct a feasibility study on a US$1 billion gas-fired power plant in Thanlyin township, after signing a memorandum of understanding with the Ministry of Electric Power on May 27.

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Big Western brands sew way forward

Only a thimble-full of American fashion brands now import from Myanmar, though they were once the largest players in the domestic garments business.

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State Bank of India to open rep office

The State Bank of India (SBI) is to become the fourth Indian bank to open a representative office in Myanmar and may be joined within the year by Punjab National Bank, which has reportedly applied for a licence.

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Bids invited for upgrade to Yangon - Mandalay highway

The Ministry of Construction is planning to upgrade the Yangon-Mandalay highway to an international standard following a high-profile crash last year.

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World-class duty-free coming to Myanmar airports

Singapore Windsor Holdings has signed a 10-year agreement with DFS Group to develop and operate duty-free retail outlets at Yangon International Airport and Nay Pyi Taw International Airport.

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Bangkok Bank and ICBC cleared to open on June 2

Two more foreign banks have been given permission to open their Myanmar branches beginning on June 2 by the Central Bank of Myanmar.

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Authorities grapple with restaurants cheating on tax

A Scheme for tax labels to be affixed to local restaurant receipts is running up against widespread cheating, according to insiders.

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Let the kyat fall

As the spread between the official and unofficial foreign exchange rate widens, economists argue the central bank should relax controls and allow the kyat to depreciate to the market rate.

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Chinese giant works to win the people

Though the Kyaukphyu area is set for large-scale investments, it is in Rakhine State, which is also home to some of the country’s poorest communities.

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