The US Federal Reserve raised interest rates for the first time since 2006 yesterday – an event long-feared by developing economies. Myanmar is better protected from the potential fallout than many, although the country’s reliance on imports leaves it exposed to a strengthening dollar. The Federal Reserve increased the Federal Funds rate – the rate […]
US rate hike puts spotlight on importers
December 21, 2015 by Thiha
Filed Under: Latest News Tagged With: Acelda MFI Myanmar, central bank, Central Statistical Organisation (CSO), Federal Reserve, Habib Rab, International Financial Corporation (IFC), international investors, Myanmar Oriental Bank, oreign investors, Sardor Koshnazarov, US banks, US Dollars, US Federal Reserve, World Bank, Yoma Bank
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
