PNC Financial

Myanmar garments to get US boost

December 15, 2015 by Thiha

Aung Thein, vice president of the Myanmar Industries Association and managing director of Nibban Electronics, welcomed the move, saying it would boost exports to the US and strengthen local industries. Garment factories would reap the most from the decision, he said. “For the time being, some well-known brands like H&M have been making some of […]

Filed Under: Latest News Tagged With: Aung Thein, Bank of America, Clearing House Association, Commerce Ministry, Economic Growth, garment factories, GSP, H&M, Myanmar Industries Association, new government, Nibban Electronics, PNC Financial, Treasury Department, US Department of Commerce

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

U.S. temporarily lifts trade restrictions on Myanmar shipping hubs

December 8, 2015 by Thiha

The United States is temporarily easing trade restrictions on Myanmar by allowing all shipments to go through its ports and airports for six months, an effort to boost the Southeast Asian country’s opposition party after its landmark election win in November, U.S. officials said on Monday. The policy change, coming after Aung San Suu Kyi’s […]

Filed Under: Latest News Tagged With: Asia World Port, aung san suu kyi, Bank of America, Citigroup, Financial Institutions, lifting sanctions, Myanmar Citizens, Myanmar’s military, NLD, Peter Harrell, PNC Financial, U.S. sanctions, U.S. Treasury Department, United States

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 […]