BUSINESS — Burma moves to gold standard, red tape to be loosened

In a move that will open the country’s gold market to global investors, CCTV has reported that Burma will begin issuing gold bars under the international measurement standard — the gram — as opposed to national currency the Kyat.  Restrictions on how much gold foreigners can buy are to be scrapped.  Plans are also in place to soften a 1994 law requiring the government receive a 70 percent profit share from foreign mines in the country.  The announcement comes as Burma gears up for 2015 implementation of the ASEAN free-trade zone.