Monday, August 21, 2017

Gov’t to collect more commercial tax

The National League for Democracy government will raise commercial tax collections to boost its coffers despite higher-than-expected tax revenues in 2016-17.

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Sri Lanka offers to purchase rice from Myanmar

Sri Lanka has offered to purchase 500,000 tonnes of high-quality rice from Myanmar through a government-to-government contract, said U Aung Soe , director general of Myanmar Trade Promotion Team under the Ministry of Commerce.

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US solar firm tackles cost barriers through instalment system

A US-based solar product company launched its services in Myanmar with the support of the International Finance Corporation and United Nations Capital Development Fund to widen access to clean energy among the rural population. The opening of its first store in Myanmar was accompanied with the introduction of the instalment system for purchases.

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Poor knowledge main reason for investor losses; more education, corporate governance needed

ECONOMISTS are calling for stricter laws and more education to protect unwitting investors from financial fraud.

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SECM clamps down on financial scams and illegal trading

THE Securities Exchange Commission of Myanmar (SECM) is clamping down on financial scams and illegal trading by unlisted companies in the country.

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Fujifilm invests in Thilawa to facilitate import, distribution and sales

Japan-based Fujifilm Holdings Corporation is open for business in the Thilawa Special Economic Zone (SEZ).

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Singapore’s MOSB to become first foreign oil and gas supply base in Myanmar

Myanmar Offshore Supply Base (MOSB), a Singapore company, on July 11 received the green light from the Myanmar Investment Commission (MIC) to construct an oil and gas supply base in Mon State. It will be the first foreign-run oil and gas supply base in Myanmar.

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Banks must limit financial exposure to 20% of core capital, says CBM

Domestic banks will not be allowedto take on financial exposure to a single individual or entity of more than 20% of its core capital, the Central Bank of Myanmar (CBM) said July 11.

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Government targets trade worth US$29 billion in 2017 – 18

Trade volumes amounting to US$29 billion have been targeted for 2017-18, with US$14 billion from exports, and US$15 billion from imports, said U Khin Maung Lwin, assistant secretary from the Ministry of Commerce.

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Myanmar should renegotiate expensive loans from China

Myanmar must renegotiate the terms to its existing loans from China, as these loans have saddled the country with the burden of repaying the loans at high interest rates, economists say.

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