The Myanmar Times
Thursday, 30 July 2015
The Myanmar Times
The Myanmar Times

Rice exports can still recover from floods

Though more than 60,000 acres of monsoon paddy may have been destroyed by recent flooding, not all is lost, said U Ye Min Aung, general secretary of the Myanmar Rice Federation.

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Singapore pushes mediation service for business dispute resolution

The Singapore International Mediation Centre is pushing for businesses to turn to mediation instead of more costly arbitration.

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Regional companies signal interest in LPG joint venture tender

Nearly all of the 19 foreign companies submitting letters of expression of interest for a joint venture Liquefied Petroleum Gas (LPG) project have done so with a local partner, according to an announcement.

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MPU member banks to boost cashless payments

The infrastructure to facilitate card payment transactions is essential if Myanmar’s economy is to evolve beyond a system dominated by cash, said banking officials at the Myanmar Banking and Finance Conference in Yangon on 28 July.

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Official kyat rate strengthens for first time this year

The Central Bank of Myanmar has strengthened the official kyat-US dollar exchange rate for the first time this year, after the local currency had steadily lost value in 2015.

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Quality jade shortage hits trade

Jade traders are complaining of meagre profits and sluggish sales at Mandalay’s Maha Aung Myay jade centre.

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Beans export issue now solved

A paperwork problem that held up beans and pulses exports has been solved, according to Myanmar Pulses, Beans and Sesame Seeds Merchants Association general secretary U Min Ko Oo.

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Pearl emporium generates over 3 million euros

The three-day pearl emporium held in Nay Pyi Taw’s Mani Yadana Jade Hall from July 22 to 24 raised more than 3 million euros (US$3.3 million) by open tender, making it the most successful in years, organisers said.

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Foreign banks call for market access

Greater competition from international banks would encourage local lenders to move away from a small pool of high-net-worth clients to start offering products and services to those who need it most, said panellists at the Myanmar Banking and Finance Conference in Yangon yesterday.

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Mizuho and Maybank to receive licences

Mizuho Bank from Japan and Malaysia’s Malayan Banking Berhad (Maybank) have been awarded their final licence by the Central Bank of Myanmar, allowing them to commence operations on August 3, according to a Central Bank statement late yesterday.

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