The Myanmar Times
Sunday, 05 July 2015
The Myanmar Times
The Myanmar Times

K10,000 note debuts amid transparency concerns

The introduction of a new note always comes some uncertainty in the Myanmar market. Yesterday, the first day the newly-redesigned K10,000 note entered circulation, concerns that the note will fuel inflation came up again – though were more muted than on previous occasions.

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Banks unwilling to take farmland as collateral

Banks are reluctant to allow farmers to take out loans by mortgaging their farmlands, despite a new by-law that will permit this in practice, said U Set Aung, deputy governor of the Central Bank of Myanmar, at a public meeting in Nay Pyi Taw on June 29.

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Only 20pc of budgeted projects implemented

Only 20 percent of projects planned in the fiscal year 2014-15 budget have been completed and another 22pc of the projects have not been carried out at all, according to a report by local civil society groups.

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IMF urges forex rate to reflect market

The International Monetary Fund (IMF) yesterday said it recommended the Central Bank of Myanmar’s official reference rate should reflect market conditions, and close the gap with the unofficial market rate.

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Forex dealers make a comeback

The foreign exchange black market has returned.

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Strong bean year on India, China demand

Domestic beans and pulses exports ought to pick up due to rising demand stemming from India and China, according to government ministers.

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KFC comes to town with first US fast food

The doors opened to the first KFC Myanmar outlet in Yangon yesterday – and the chicken is indeed from Myanmar.

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UOB plans to facilitate $300 million in investment in 12 months

Singapore-based  UOB plans to facilitate US$300 million in investment in Myanmar over the next 12 months, according to Ian Wong, UOB Group head of strategy and international management.

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Carlsberg head taps into local market

Carlsberg aims to make a splash in the Myanmar beer market with its new US$50 million brewery in Bago Region commissioned in March and launched in early May.

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Thai companies plan offshore LNG facility in Myanmar

Thailand's state-owned PTT is going to invest in a liquefied natural gas (LNG) terminal project in Myanmar, according to a Reuters report.

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