Monday, August 29, 2016
The Myanmar Times
The Myanmar Times

Hotels and bars face liquor licence woes

Only about 10 percent of the places serving liquor in the country are legally allowed to do so, tourism experts say, and while the widespread availability of unlicensed premises serving drinks is costing the local economy in unpaid taxes, the Ministry of Home Affairs refuses to issue more licences.

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Korean firms to be invited to build Yangon-Dala bridge

A Tender for private companies to build a multi-million-dollar suspension bridge connecting downtown Yangon with sleepy Dala township will be called “soon”, but only for Korean firms, the Ministry of Construction’s permanent secretary said.

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Date set for first bank listing on Yangon Stock Exchange

Myanmar Citizens Bank will become the first lender to list on the Yangon Stock Exchange (YSX) with its debut scheduled for August 26, according to a notice posted to the bourse.

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DCA hopes to tie up Hanthawaddy airport deal by the end of this year

A Final concession agreement between the Department of Civil Aviation and a consortium building a major new international airport in Bago Region known as Hanthawaddy International Airport should be complete by the end of this year, according to a DCA director.

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Local firm plans Daewoo bus factory in Yangon

Myanmar Coach Centre, the local distributor for Daewoo buses, plans to build a factory in Yangon that could start producing coaches and city buses by 2018, its managing director said.

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World Bank offers $100m loan for financial sector development

The World Bank has offered to lend the government US$100 million for financial sector development, with the funding to be split between the Ministry of Planning and Finance and the Central Bank, parliament heard earlier this week.

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Minister brought into Indonesia rice dispute

Myanmar Agribusiness Public Corporation has asked the minister of commerce to help settle a long-running dispute over a rice shipment with Indonesia’s state-run Bureau of Logistics, known as Bulog, when he travels to the country later this month.

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Banks mull taking shares as collateral

Investors in Yangon Stock Exchange-listed firms could soon be able to use their shares to access bank loans. The YSX is in discussions with listed companies and lenders about a system for posting stock as collateral, which shareholders are eager to see put in place.

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Government and private sector form working group for international trade

A new working group comprising government officials and entrepreneurs was formed this week with support from the Asian Development Bank, to develop local supply chains for international trade.

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Beer station profits slump as pumps close

Some Yangon beer stations are still flouting a long-ignored law against selling draught beer without a special licence, which local authorities recently started trying to enforce. Those that have followed the letter of the law, meanwhile, are seeing business slump.

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