Saturday, January 21, 2017
The Myanmar Times
The Myanmar Times

Yangon government considers ending industrial zone bridge tolls

The Yangon Region government is debating ending the toll fees on three bridges that connect Hlaing Thar Yar industrial zone with Yangon and the Thilawa special economic zone.

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Burger King sets up second store at new domestic terminal

Myanmar is getting its first ever publicly-accessible Burger King outlet, although whopper-enthusiasts will have to make their way to Yangon International Airport’s new domestic terminal to slake their hunger.

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Limits lifted on joint-venture trading firms

The Ministry of Commerce has abolished a limit system on the amount of funds a foreign-local joint venture trading firm can use in its operations, as part of a wider effort to loosen trading restrictions.

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Central Bank to reform reference rate

The Central Bank will reform its daily dollar auction system as part of an attempt to address the weakening kyat, deputy governor U Set Aung told Myanmar’s business community last week.

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Government plans Hpa-an zone to kick-start Kayin economy

In an attempt to boost the economy of Kayin State, the government has announced a strategy to attract entrepreneurs to the Hpa-an industrial zone in the state capital.

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Myanma Railways to ramp up carriage production next year

A new Myanma Railways passenger carriage factory built with Chinese help is expected to be up and running by the end of the next financial year, according to the factory’s general manager.

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Japanese MFI starts social loans expansion

Japanese microfinance lender MJI Enterprise has started offering three new types of loan and is expanding into two new areas, its chief executive told The Myanmar Times.

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Weak kyat leaves developers in difficulty

Trapped between a high dollar and a construction slump, contractors are facing difficult times, industry insiders say. Imported construction and decoration-related materials are more expensive because of the rise of the US dollar against the kyat, but a weak market means that new building projects are rare, and sales are low.

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KBZ airlines spread wings to India and Thailand

KBZ group-owned airlines Myanmar Airway International and Air Kanbawza started routes to new destinations this week. MAI now offers direct flights to Kolkata in India, while Air KBZ has become an international carrier and kicked off flights to Chiang Mai.

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US, EU absent from emporium

Sales at mid-year gems emporium that ended this week totalled just over 327 million euros. But hopes that US and European buyers would attend following a shift in the US sanctions regime proved premature.

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