Myanmar Times
World Bank to loan $100 million to Myanmar financial development project
World Bank and government representatives recently signed an agreement for a US$100 million (K134.9 billion) World Bank loan to the Myanmar Financial Development Project in mid-April. The representatives signed the loan for SDR71.700 million, which equals US$100 million, from the World Bank with low interest. Ulrich ...
Peace and economy co-related: peace commission chair
To attract more local and foreign investments in Myanmar, peace and political stability are critical, said Peace Commission chair Dr Tin Myo Win. “It is fundamental. Business is essential for peace and peace is also critical in encouraging business growth. They are co-related. “We also need ...
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 ...
Disruption of train services during Thingyan
As fewer passengers travel by train during the Thingyan water festival, some of the train services will not run until the festival is over. The train services will resume their normal schedules after Thingyan, Mandalay Railway Station Master U Nyein Maung said. Train maintenance will ...
K19 billion excess taxes collected
Mandalay’s tax revenue in the last budget year exceeded the collection of the year before by almost K20 billion, thanks to increased awareness among taxpayers. The regional government only expected to collect K141 billion in taxes in the 2016-17 budget year but managed to get ...
No hike in petrol price during Thingyan: MPTA
The public can be assured that petrol prices will not increase during the Thingyan period, Dr Win Myint, secretary of the Myanmar Petroleum Trade Association (MPTA) said. He said this at a press conference on Wednesday at the main office of the Union of Myanmar Federation ...
Incentive bonus for highway bus companies
The Mandalay Supervisory Committee for Highway Bus Lines has given out more than K40 million in incentives to 146 bus lines that fall under its supervision for the 2016-17 fiscal year on April 5. U Aung Kyaw Linn, chair of Bus Line Supervisory Committee (Highway) ...
First-ever Schuman Awards granted to Myanmar citizens
European Union Ambassador Roland Kobia presented Schuman Awards to U Ko Ni (posthumous), Daw Ja Nan Lahtaw and U Aung Myo Min in Yangon on April 4. The Schuman Awards – named after former French Foreign Minister and founding father of the European Union, Robert Schuman ...
Bus companies urged not raise fares during festival
Bus companies have been urged to maintain fare prices and not take advantage of the festive season to raise them. Mandalay Region Supervisory Committee for Motor Vehicles (Highway) chair, U Aung Kyaw Lin, said that he is making a request and not ordering the companies ...
