The Myanmar Times
Thursday, 24 July 2014
The Myanmar Times
The Myanmar Times

French bank slapped with fine for deals done under sanctions

Leading French bank BNP Paribas said it would face no difficulty in absorbing the record multi-billion-dollar fine slapped on it by US authorities for breaking sanctions against pariah regimes.

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Trade centre to be rebuilt

The Yangon Trade Centre rocked by a 2005 bombing will be re-opened, as the Ministry of Commerce has announced a tender for local investors to re-build the project.


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Foreign banks announcement due in September

The foreign banks allowed to operate in Myanmar will be selected in September, though their licences will initially contain significant restrictions, say officials.

 

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Tough times for Mandalay’s hotels

A hotel building boom has resulted in empty rooms and hotel closures in Mandalay, compounded by the traditional slump in tourism during the low season.

 

 

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Sittwe economic zone in limbo as foreign investors get cold feet

Plans for a proposed economic zone on the outskirts of Sittwe are in limbo, after international investors pulled out over sectarian violence in Rakhine and wider political concerns about Chinese businesses in Myanmar.

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Secrecy haunts oil sector, says Global Witness NGO

High levels of corporate secrecy must be tackled if Myanmar is to benefit from its oil and gas wealth, claimed international NGO Global Witness.

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Port project to get shopping mall

A firm called New Downtown Development Company is set to build a 10-storey building including a luxury shopping mall at Yangon’s Pansodan port.

 

 

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Neglected expat investments

Expatriates around the world are investors out of necessity, and rarely cared for as they would be back at home. Many become lifelong travellers once they have been abroad for a few years.

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Who will benefit from Condominium Law?

A closer look at the condominium law and the impact it is likely to have on residents and investors alike.

 

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Re-writing the mining law “waste of time”: lawmaker

Pyithu Hluttaw Speaker Thura U Shwe Mann has rejected a proposal to throw out amendments to mining laws in favour of a completely new bill.

 

 

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