Tuesday, August 30, 2016
The Myanmar Times
The Myanmar Times

Hlaing Tharyar industrial zone to be upgraded in pilot project

Yangon Region government is to call on private industry to fund an upgrade of Hlaing Tharyar industrial zone to serve as a pilot project for the nation.

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Public buses and taxis lack full insurance

Long-distance buses – including those that ply the notorious “Death Highway” between Yangon and Mandalay – lack sufficient insurance coverage, insurance officials say.

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YSX debates bank disclosure ahead of MCB listing

As Myanmar Citizens Bank prepares to become the first lender listed on Yangon’s stock exchange, bourse officials are still debating just what level of financial disclosure listing banks should have to provide.

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United Amara Bank joins ADB trade finance program

United Amara Bank became the second local lender to sign with the Asian Development Bank under its Trade Finance Program (TFP) yesterday, and will receive guarantees for international letters of credit worth up to US$4 million each year.

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Mining companies must repair environmental damage: official

More than 1000 jade mining companies will be forced by law to clean up their sites in Hpakant and Lone Khin mining areas in Kachin State once their permits have expired, the government says.

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Dawei rubber farmers rally as plantations face closure

Rubber farms in Tanintharyi Region are in a critical condition, as rock-bottom international prices for the raw material show no sign of rising and demand is at an all-time low, according to the regional chair of the Myanmar Rubber Planters and Producers Association (MRPPA).

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Crude oil, diamond and gold exports to be legalised next year: official

The government will lift restrictions on exporting crude oil, diamonds and gold early next year, an official told The Myanmar Times yesterday, cutting the state list of restricted goods down to just four.

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No automatic tax breaks under new law

Companies investing through the Myanmar Investment Commission will no longer automatically receive a five-year tax break, but will be granted exemptions based on the nature of the project and its geographic location, MIC secretary U Aung Naing Oo said yesterday.

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Government courts ADB for power-line funding

The government is hoping to use Asian Development Bank financing to resurrect a project to build a power line from Mawlamyine to Dawei, the Union minister for electricity and energy has said.

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Kayin minister dreams of silk and mulberry plantations

The chief minister of Kayin State is hoping to cover the temperate land with mulberry plantations and transform the once-isolated state into a centre for silk and hand-woven industries.

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