The Myanmar Times
Sunday, 20 April 2014
The Myanmar Times
The Myanmar Times

Electricity price hike set for April 1

From April 1, the price of electricity for households will rise by as much as 42.8 percent for units used over a certain threshold.

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No room at the table for progress

An ongoing dispute between military-backed Union of Myanmar Economic Holdings Limited and a commercial partner has highlighted failings of Myanmar’s arbitration system.

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Social security scheme in the pipeline

The new social security scheme, which comes into effect next month and is compulsory for enterprises, would also allow independent workers to apply for social security for a fee.

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Exchange rate fluctuation smooth as USD falters

Moderate depreciation of the US dollar against Asian currencies over the past three months has resulted in marked improvements for the kyat, which has appreciated as much as 2.42 percent against the greenback since mid-February.

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Garment sector to hit $1.5b revenue mark

Revenues in the garment sector are expected to grow by as much as 50 percent for the 2013-14 fiscal year and reach US$1.5 billion, say industry experts.

 

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Poor practices prove taxing for government

Rampant corruption and poor collection practices will likely make it impossible for the government to fully benefit from the recently enacted 2014 Union Tax Law, experts said.

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Focus on the food chain

The recently opened DuPont operation in Myanmar is training its expertise on the nation's food supply chain, looking to modernise production and maximise productivity. 

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Tourism and travel sector to continue upward trend

Myanmar's travel and tourism sectors are set to grow 9.5 percent in 2014 to reach K933 billion (US$971 million) as the number of international visitors to the country, particularly from Asia, continues to climb.


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Arbitor slams UMEHL over foul play

The military-run UMEHL conglomerate has been accused of deliberately sabotaging proceedings by a local arbitor presiding over a commercial dispute.

 

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In the chair: Suan Teck Kin

Senior economist with the Singaporean United Overseas Bank Suan Teck Kin on reform, FDI and ASEAN integration.


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