Monday, September 26, 2016
The Myanmar Times
The Myanmar Times

Surging kyat closes foreign exchange desks

Local banks suspended foreign currency exchange services yesterday as the kyat surged in value against the dollar, with financial industry sources variously pointing the finger at political speculation, market rumours and a lack of clear Central Bank policy.

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Taiwan dominates foreign bank licence applications

Eight Taiwanese lenders are among the 13 banks to respond to a request for proposals (RFP) in Myanmar’s second round of foreign bank licensing.

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New bridge to link up Htantabin township

For a disconnected corner of Yangon Region, the missing link is about to be forged. Out-of-the-way Htantabin township will be connected with Nyaungdon in Ayeyarwady Region when a new bridge opens in April.

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Zaykabar chair: Suu Kyi is ‘like a sister’

Real estate tycoon U Khin Shwe discusses his close friendship with Daw Aung San Suu Kyi, land confiscations associated with his company Zaykabar and his reputation as a crony of the former military regime, in an interview with The Myanmar Times.

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Taiwan dominates second round of foreign bank applications

Eight Taiwanese lenders are among the 13 banks to respond to a request for proposals (RFP) in Myanmar’s second round of foreign bank licensing.

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Capital Hypermarket to accept Visa cards

Visa has signed with Capital Hypermarket to roll out card payments through domestic CB Bank in the local supermarket’s outlets, according to a February 8 announcement.

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Export earnings down by $1b this fiscal year

Export earnings in dollar terms have fallen this fiscal year by US$1 billion over the same period last year according to ministry figures.

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Rice farmers need government support: federation

Polices set by the new government will determine the success of Myanmar’s rice industry, which is in dire need of funding, according to the Myanmar Rice Federation.

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Ooredoo raises $300 million from IFC, ADB

Ooredoo Myanmar has raised US$300 million through a loan from the Asian Development Bank and International Finance Corporation, to fund the rollout of its network.

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Thai cement giant tackles Mon coal fears

Siam Cement Group has invited a number of monks to visit its plant in Thailand, as part of the company’s efforts to ease local concerns about a coal-burning plant that will power its new cement factory in Kyaikmaraw, Mon State.

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