Friday, September 30, 2016
The Myanmar Times
The Myanmar Times

Vehicle insurance rates double

Vehicle insurance rates at the low end of the market are set to more than double, Myanma Insurance has announced. But the company also said it would double the level of its payouts.

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Korea-Myanmar venture to build 500-acre garment zone

A Korean firm and a local company have teamed up with a view to building free-on-board (FOB) garment factories on 500 acres of land through a 50-50 joint venture.

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Farmers look to the future as floods hit paddy production

Flooding across the country over the past two months has impacted more than 400,000 people and submerged more than 500,000 acres of paddy, according to recent government data.

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Aeon’s Myanmar bid highlights supermarket uncertainty

Japanese retail giant Aeon’s ambitions in Myanmar’s lucrative retail sector have highlighted uncertainty about what foreign firms are allowed to do as far as trading is concerned, with local industry heads calling for more clarity and a level playing field for domestic and international players.

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International funding key to electrification

International funding will help Yangon Region keep up with rising demand for electrical power, the chief minister has pledged. U Phyo Min Thein, speaking at the Fourth Myanmar Green Energy Summit yesterday, said boosting the electricity sector was the key to the country’s development.

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Private bus company goes conductor-free

In what could be the end of the line for Yangon’s notorious bus conductors, one bus line owner is introducing a system of asking passengers to pay fares into a collection box. Ko Ta Yoke Lay, who runs the No 45 line, says the introduction of the system will remove the need for bus conductors.

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First govt bond auction set for September

A Traditional rainy season slowdown in lending has left banks with plenty of excess liquidity, which bankers say bodes well for appetite at Myanmar’s first ever Treasury bond auction next month.

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Minister pledges measures to crack down on illegal trade

Myanmar's Customs Department will implement short- and long-term measures to combat illegal trade along and within the country’s overland borders, Commerce Minister U Than Myint told lawmakers at an Amyotha Hluttaw session yesterday.

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Yangon bans lucrative trade in pavement space

Yangon authorities put up dozens of signboards in the city’s six downtown townships earlier this week, banning a well-established and lucrative trade in pavement space, and warning against the informal taxation of street vendors.

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Tanintharyi tightens mining oversight

The local government in Myanmar’s southernmost region has said it will not issue any new mining licences until environmental concerns and controversies have been resolved at operational mines in the resource-rich area.

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