Sunday, February 14, 2016
The Myanmar Times
The Myanmar Times

Cobblers welcome cold season

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.

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KMA Group returns seized land to former owners

In a rare act of restitution, the Kaung Myanmar Aung (KMA) Group has restored almost 1900 acres of land in Taungoo district to its former owners.

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Kerry Logistics kicks off Myanmar’s dry port plan

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.

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Industry lobbies for gold and diamond trade to be legalised

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.

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Falling Chinese demand hits rubber producers hard

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.

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CBM brings real-time settlement to banks

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.

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Shwe Rural and Urban Development Bank opens head office

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.

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IFC endorses City Mart expansion

The International Finance Corporation (IFC) will lend US$25 million to Myanmar’s largest retail group City Mart (CMHL), which is aiming to build a raft of new stores across the country.

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Gold miner opens case amid fresh protests

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.

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Government backtracks on vehicle import policies

Bowing under pressure from dealers and sellers, the government has relaxed its new vehicle import policies for the coming year.

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