Usage of prepaid cards from four international payment providers will not be permitted in the local currency, the Central Bank of Myanmar (CBM) said on July 25. In a statement signed by CBM Director General Daw Myint Myint Kyi of the Accounts Department, the CBM noted that prepaid cards are being used to settle payments […]
Dollar appreciation takes toll on domestic construction industry
August 29, 2018 by
Dollar appreciation is a drawback to local construction sector as the country has to import nearly 90 per cent of construction materials, said Ko Ko Htwe, Patron of Myanmar Construction Entrepreneurs Association and chair of Tawin Family Company, at a talk on the condominium law and challenges being faced by construction sector, at Pan Pacific […]
Myanmar to hold pearl auction in Hong Kong to penetrate int’l market
February 26, 2018 by
YANGON, Feb. 22 (Xinhua) — Myanmar will hold its sixth International Pearl Auction in China’s Hong Kong Special Administrative Region starting Friday, the official Global New Light of Myanmar reported Thursday. In the three-day pearl auction with the aim of penetrating the international pearl market, Myanmar pearls of high value, produced from Myeik, the country’s […]
Myanmar moves to stave off credit crunch
October 3, 2017 by
NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]
