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.
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.
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.
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.
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.
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.
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.