Economy Finance Lead Story News
Kyaw Kyaw Maung, the governor of the Central Bank of Myanmar, was reappointed to the position in 2013 by former president Thein Sein, after previously serving under Burma’s former military junta.
Lenders say they have been forced to turn to unlicensed brokers for scarce dollars to keep the wheels of trade turning.
As the Burmese kyat loses value, more and more customers have been withdrawing their savings.
Business Business Weekly Lead Story News
This week in business; the wage war continues as workers rally and factories threaten closure, ‘New Rangoon’ property goes ahead and Henekin taps into Burma.
Business Economy Finance Lead Story News
Burmese finance analysts have predicted that the US dollar will continue to strengthen against the kyat until the end of the year, state media reports.
State-owned Central Bank of Myanmar on 17 June announced that it will begin the unrestricted sale of foreign currencies to fuel and edible oil importers.
Business Business Weekly Lead Story News
In business this week: YSX to open in October; MPs plan to borrow from CBM for agricultural loans; green energy in Burma; local banks fear foreign rivals.
Business Lead Story News Trade
As Burmese kyat falls, the Central Bank of Myanmar warns foreign currency exchange operators to sell foreign bank notes only within official rates.
The vice-president of the Central Bank of Myanmar, Daw Khin Saw Oo, tells lower house MPs that the bank was planning to issue new banknotes featuring the image of Burma’s national hero, Aung San, as well as other prominent Burmese leaders.
Govt lowers the country’s high interest rates to combat currency appreciation & increase liquidity in the market, but banking and the economy remain opaque and troubled say analysts
Mooted scheme at mercy of endemic corruption and absence of conditions conducive to effective management
