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ADB moves in Myanmar as trade finance hopes grow

February 27, 2017 by Thiha

Hopes of opening the Myanmar trade finance sector are growing, after the Asian Development Bank (ADB) issued its first guarantee in the country. As part of its Trade Finance Programme (TFP), the ADB guaranteed a letter of credit issued by Banca Popolare di Sondrio of Italy to local lender United Amara Bank (UAB), one of […]

Filed Under: Latest News Tagged With: ADB, America, an assistant director at the Central Bank of Myanmar, Asia, Asian Development Bank, Asian Infrastructure Investment Bank (AIIB), GTR, HSBC, IFC, Janet Hyde, Khaing Thandar Nyunt, market, MOB Bank, Myanmar, PNC, SMEs, Steven Law, TFP, Trade Finance Programme (TFP), United Amara Bank (UAB), Yoma Bank

US eases Myanmar trade sanctions

December 11, 2015 by Thiha

US authorities have removed a ban on trade through ports and airports in Myanmar for six months, a move that should help galvanise the country’s incoming government. A landslide victory by the National League for Democracy, led by the iconic Aung San Suu Kyi, marked the first free polls in 25 years, and the party […]

Filed Under: Latest News Tagged With: ADB guarantees, Asia World Port, Asian Development Bank, aung san suu kyi, Bank of America, Citi, HSBC, Janet Hyde, OFAC, PNC Financial, Risk Advisory Group, Rohingya, Steven Law

Myanmar vote boosts hopes of lifting US sanctions if military accepts the results

November 11, 2015 by Thiha

The United States on Monday (Nov 9) welcomed Myanmar’s election as a victory for the people, and the vote appeared to raise prospects of a further lifting of US sanctions – provided the military accepts the results. While highlighting encouraging signs from Sunday’s poll, Washington remained cautious and said it would watch for the democratic […]

Filed Under: Latest News Tagged With: aung san suu kyi, Bank of America, Barack Obama, Citigroup, European Union, HSBC, Josh Earnest, Mr Daniel Russel, Mr Jose W. Fernandez, Mr Peter Kucik, Mr Steven Law, Myanmar's election, Rohingya Muslims, US assistant secretary, US government, US investment

Sanctions fears choke nascent U.S. trade with Myanmar via Asia World Port

November 10, 2015 by thiha

Western banks are cutting trade finance in Myanmar after learning that part of the country’s main port is controlled by a man blacklisted by Washington, threatening to stop nascent U.S. economic ties with the Southeast Asian nation in their tracks. U.S. shipments to Myanmar have slowed to a crawl in recent months, after several banks […]

Filed Under: Latest News Tagged With: Asia World Port, Bank of America, blacklist, Citigroup Inc, European banks, fear of US penalties, HSBC, Jose W. Fernandez, Moe Myint Kyaw, OFAC, Peter Harrell, Peter Kucik, PNC Financial, sea cargo, sea trade, Steven Law, trade embargo, trade financing, UMFCCI, US banks, US Sanctions, US SDN, US Treasury

Bates Returns to Myanmar to Handle Ooredoo Business

August 26, 2015 by Thiha

Hong Kong-based ad agency Bates CHI & Partners has announced the appointment of Milla Chaplin as Strategic Account Director in Myanmar to focus on its Ooredoo business. Chaplin, a former WPP fellow, will be responsible for strategic planning and senior account management, with a focus on research and insights, Bates, which is part of British […]