Banking and financial services
Major banks
Capital markets essential for private sector: IFC
International Finance Corporation (IFC), a member of the World Bank Group, and the Securities and Exchange Commission of Myanmar (SECM) signed a memorandum of understanding (MoU) in March to strengthen corporate governance regulatory standards and practices in Myanmar. In its press statement, the IFC said ...
Lessons from the 1997 Asian financial crisis
The Asian financial crisis in 1997 plunged many ASEAN countries into recession. The crisis dragged down the Indonesian rupiah, the Thai baht, the Malaysian ringgit and other currencies. Even the Hong Kong dollar came under enormous pressure, though the city managed to prevent a devaluation because ...
Betel farmers reap healthy profits this season
According to betel farmers from Shwegu Tesu village in Sagaing Region’s Khin-U township, this season’s prices are helping them reap healthy profits. “We were making profits because prices were good since the start of this season. So farmers didn’t face losses this year compared to ...
Monetary tightening emerges as risk to Chinese economy
China economists increasingly see tighter monetary policy by the People’s Bank of China as a downside risk, voicing concerns that efforts to curb capital outflows and a real estate bubble will weigh on the economy. Tighter monetary policy has surged to second place on a ...
Beware of illegal business ventures, central bank warns
The Bank of the Lao PDR has warned the public to be on the alert for individuals or companies that illegally convince people to deposit their money or buy shares in business schemes, lured by the promise of high returns or interest rates. The pledging ...
MPC ups GDP growth forecast, keeps policy rate
The Bank of Thailand’s Monetary Policy Committee revised up its forecast for this year’s economic growth to 3.4 per cent based on a further recovery of merchandise exports, while leaving the benchmark interest rate unchanged at 1.50 per cent at its meeting on March 29. Jaturong ...
Airports urged to adopt constant supervision systems to prevent hacking
A constant supervision system installed at all airports and flight control centres and on airlines would help ensure security for Viet Nam’s aviation industry, experts have said. The country’s aviation industry has three independent information systems used by Vietnam Airlines, airports and flight control centres, but ...
MFIs seek regulator’s support
The apex body for the nation’s microfinance industry announced yesterday that the central bank had tentatively agreed to a number of measures it had requested to ease the burden on microfinance lenders following last week’s unilateral decision to cap annual interest rates at 18 percent ...
ASEAN finds free trade a tougher sell in today's environment
As the U.S. pulls back and China expands, Southeast Asia tries to adjust. People become aware of the divine power of a mantra only when they no longer hear it. People have been hearing world leaders inveigh against protectionism after official meetings for so long ...
Derivatives licensing capped by regulator
Cambodia’s capital market regulator announced on March 22 that it would suspend the issuance of new central counterparty licences to derivatives trading firms, claiming that capping the market at four was sufficient to serve current demand. The Securities Exchange Commission of Cambodia said in an ...
