KBZ, the country’s largest private bank, has been chosen to run settlement and clearing operations for the forthcoming Yangon Stock Exchange, according to KBZ senior managing director U Than Cho.
The government urgently needs to prepare a finance sector development strategy focusing on three main objectives – increasing financial sector efficiency, stability and inclusion, according to a recent working paper published by the Asian Development Bank.
Norway's Statoil and US-based ConocoPhillips will invest more than US$300 million in the exploration and production of offshore oil and gas in Myanmar, according to an official from the Ministry of Energy (MOE).
Trading in beans, pulses and paddy could move from warehouses to the web as soon as this month, as the Myanmar International Commodity Exchange (MICEx) prepares to launch its online platform.
A post-war era law considered too favourable to tenants – and squatters – is to be replaced with a more even-handed legal framework, officials say. The Urban Rent Control Act (1960), itself a revision of a law dating back to 1946, has been redrafted by the Ministry of Home Affairs and the Department of Housing Development and Human Settlements to address more up-to-date concerns, they said.
More of the country’s vast natural gas reserve is being made available for domestic use, officials have announced. The Shwe project, which pumps gas to China by pipeline, began releasing more gas for domestic users before the Thingyan festival, according to a statement from the Southeast Asia Gas Pipeline (SEAGP) company.