The Myanmar Times
Friday, 03 July 2015
The Myanmar Times
The Myanmar Times

Plan to provide USD for fuel and oil imports may backfire

The Central Bank is working out a system to provide the foreign exchange necessary for importers of fuel and palm oil to importers.

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Ministry talks target of 100% electrification by 2030

Myanmar has one of the lowest rates of electrification in Southeast Asia, with about 30 percent of people drawing their lighting from electricity. Yet the country is well-endowed with the resources that are necessary to keep the lights on.

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President’s Office steps in with forex role

Over the past few months, many believe the Central Bank of Myanmar’s commitment to allow a floating exchange rate based on the market price has faltered. Concerns about the currency have resulted in extensive meetings and direct intervention from the President’s Office.

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Daewoo CEO quits over Shwe Gas

Jeon Byeong-eal, CEO of Daewoo International, has quit due to a protracted feud with the steelmaker over its Myanmar natural gas project, according to Korean media reports.

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Yangon more expensive for expats than Paris, Sydney or Abu Dhabi

Yangon became considerably more expensive for expats last year, compared with other cities around the world, according to Mercer’s annual Cost of Living Survey.

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Pun Hlaing Siloam Hospitals aim to bring treatment home

Pun Hlaing Siloam Hospitals is positioning itself to reverse the outflow of patients going abroad for medical treatment.

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Malaysian firm to construct Yangon office tower

Malaysia's Naim Indah City Development has signed a memorandum of understanding (MoU) with Myanmar firm United Pacific Development Company to build a 32-storey office tower on Pyay Road in Yangon.

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Crackdown frightens money changers

News of the arrests of unlicensed US dollar traders and speculators has resulted in a significant slowdown of black-market money changing operations across Yangon this week, sources said.

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Government approves plan for health insurance

Deputy finance minister Dr Maung Maung Thein has unveiled plans for health insurance beginning on July 1.

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Ministry, traders discuss the forex rate

The unstable exchange rate has significantly affected imports and exports, making business difficult, according to traders.

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