Friday, May 27, 2016
The Myanmar Times
The Myanmar Times

New rules planned for government tenders

Parliament's newly formed Bill Committee plans to submit and discuss new rules for ministry tenders during the current session, in the hope of reforming an opaque and inconsistent system that has often allowed lucrative contracts to be awarded behind closed doors.

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Vehicles and machinery held up at Myanmar’s borders

Recent restrictions on importing vehicles and machinery into Myanmar from China and Thailand are causing headaches for leasing and logistics companies.

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Traders swap jade for amber

Veteran jade sellers are giving up their trade to sell amber instead, following a major fall in demand for the precious green stone at local markets over the past year.

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Securities commission chair resigns

Former deputy minister of finance U Maung Maung Thein has resigned from his position as chair of the Securities and Exchange Commission of Myanmar and the Insurance Business Regulatory Board.

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Energy and electricity merger complete

A merger between the ministries of electric power and energy, ordered by the new government in March, is now complete and the new structure will be submitted to the cabinet for approval, officials said.

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Myanmar hits the sweet spot

Sugar traders continue to benefit from Myanmar’s strategic location as an Asian crossroads, with surplus Indian production feeding demand in China, though currency volatility is starting to cause some headaches.

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FMI increases capital to Yoma Bank

First Myanmar Investment (FMI) has increased its capital contribution to its subsidiary Yoma Bank by almost K9.6 billion, after accepting a loan facility from Bangkok Bank, said a company announcement yesterday.

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Rice famers demand financing fix

A recent state bank decision to increase loans to rice farmers by 50 percent in the coming monsoon season has not been well-received, with some paddy farmers calling for the troubled development bank to be privatised.

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Yangon chief minister to cut bridge tolls

The new chief minister for Yangon Region plans to reduce tolls at a major bridge linking the city’s largest industrial zones to its downtown area and ports, in a move that would make exports more competitive.

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Chinese firm to restart Myanmar’s only coal plant

A Chinese company is upgrading Myanmar’s only coal-fired power plant, with a view to resuming operations in late May according to officials from the Ministry of Electricity and Energy.

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