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