The Myanmar Times
Tuesday, 30 June 2015
The Myanmar Times
The Myanmar Times

Weather weighs on the sidewalk newspaper trade

Street commerce, naturally, declines during the rainy season. Few people want to sit at a stall and slurp noodles, or search for shirts and sunglasses, during a downpour.

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Labourers make do at the docks

“One … two … three…”

It is the end of a long day of work for 14-year-old Ma Thida Aye. She has been offloading bags of cement and cases of beer from ships berthed at Ngalapwe port since sunrise, taking in K100 for each bag she offloads and carries inland to a depot.

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Businesses weigh impact of boat crisis

The international spotlight has been trained on the migrant boat crisis, with Myanmar’s policy toward Muslim residents of Rakhine State coming under global scrutiny.

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Kyat drops against dollar

The kyat has taken another dive against the US dollar, dropping in value to near K1200 on local exchanges yesterday.

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CPI pushes for restart of Myitsone Dam

President U Thein Sein has suspended the Myitsone Dam project until the end of his current term. Once this is over, CPI Yunnan International Power Investment Company (CPIYN) says it is hoping to restart work.

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Ministry scrambles after leaking offshore bidding news

The Ministry of Energy called an emergency meeting yesterday after an unnamed official told state newspaper Myanma Alinn that bidding rounds for oil and gas blocks would be announced next year.

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Taking aim at China’s fertiliser dominance

The price of Chinese-manufactured fertiliser has increased significantly in the last few months, with traders blaming a weakening kyat and increasing transportation charges.

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More to kyat drop than meets the eye: Set Aung

Although the kyat has fallen in trading against the US dollar, it does not mean the real value of the local currency is dropping, according to Central Bank of Myanmar deputy governor U Set Aung.

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Local banks fret foreign rivals

Domestic banks fear that international lenders opening branch offices in Myanmar will pursue an aggressive strategy and poach the best local clients, but commentators believe this is unlikely to happen, for now.

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Banks preparing for credit cards

The 21 banks that are members of the Myanmar Payment Union are preparing to offer credit cards for citizens, according to the union’s chair U Mya Thain.

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