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Burma Business Weekly
BUSINESS in BURMA THIS WEEK: Price of gold stabilises while kyat finishes strongly; Western Union expands outlets; stock exchange plans to start small; Malaysian minister urges investment in Burma; and tea industry in decline.
Crawling, walking, but not yet running – ATMs in Burma
Just one year ago, Burma was a purely cash economy: there were no ATMs and international credit cards were not generally accepted. Now VISA and MasterCard are leading the way in; but infrastructure in Burma is still a setback.
Burmese traders claim ‘hundi’ operator robbed them
Burmese merchants who import Chinese goods through the border checkpoint at Muse in northern Shan state are claiming that a Burmese “hundi” operator stole nearly half a billion kyat from them.
BUSINESS WEEKLY
This week: Gold price resettles; 'Made in Burma' Nissans on the way; Apple launches in Rangoon; Central Bank considers cutting interest rates; and govt invites tender bids for Kyaukphyu economic zone.
Thai, Burmese bank open remittance service
Burma's Asian Green Development Bank and Thailand’s Kasikorn Bank signed an agreement to create a remittance service between the two countries that will begin operations in June
Currency crisis hits Burmese remittances
THUREIN SOE - 2
Operators of informal money transfer system put services on hold as Burma gauges how its unstable currency will fare
