Traditional they may be, but woe betide the cobbler who neglects to follow fashion in the making of velvet shoes. Now that the rains are a memory, and the brief winter is here, ’tis the season for this ancient but ever-voguish form of footwear.
Hong Kong-based company Kerry Logistics has won a concession to operate two inland ports in Myanmar, part of the government’s plan to construct a network of dry ports across the country under a United Nations initiative.
Industry bodies have asked the government to strike gold and diamonds from its list of restricted goods, saying it would boost government earnings and help to combat smuggling.
As fears over China’s slowing economy send global rubber prices spiralling toward a six-year low, and demand for rubber from neighbouring heavyweights such as Thailand dries up, plantation owners across Myanmar are shuttering their businesses.
Myanmar's banking system has taken another step toward modernisation, courtesy of the Central Bank’s new clearing and settlement system, which will make an “immense difference” to lenders’ day-to-day operations, bankers said.
Shwe Rural and Urban Development Bank opened its head office in Yangon yesterday. The lender plans to set up 25 branches over the next five years, but will conduct most of its operations through a network of countryside-based agents.
A gold-mining company supported by military-owned Union of Myanmar Economic Holdings opened a case with Mandalay police last week, after 100 people occupied the site of its mining operations in a new wave of protests, police sources said.