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.
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.
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.
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).
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.
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.