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Booze and Cigarette Taxes to Change from April
Cigarettes will be taxed individually and alcohol will be taxed per litre, according to the draft Commercial Tax Law 2016. For cigarettes, a roll of cigarette will be taxed from K3 to K48 depending on...
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Myanmar Unprepared for Stock Market: Economist
Trading of stocks at the Yangon Stock Exchange (YSX) is expected to begin in March, giving Myanmar people another option to invest their money. Currently, people invest in the property market or the...
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Myeik Tourism Expands to Two New Islands
To develop local tourism businesses 14 islands from the Myeik Archipelago have been proposed and two islands from the list have been confirmed as eligible to start tourism businesses, according to the...
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Parliament to leave 14 bills for next government term
Myanmar’s Lower House of Parliament ruled yesterday that 14 bills, including the Bill for the Protection of the Constitution, would not be discussed during the term of the current parliament. The...
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Proposed Vehicle Import Limits Dropped After Industry Outcry
After fielding numerous complaints from industry stakeholders in recent weeks, the government has made a policy about-face, backing down on most of its plans to restrict Burma’s vehicle imports...
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Shares Outstanding as Public Bus Company Nears Launch
Burma’s first public bus company, which is expected to launch routes in Rangoon late this month, has so far raised 3.8 billion kyats (US$2.9 million) in a sale of shares to fund the first phase of the...
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Yangon government eyeing second commuter tram
Transport authorities are planning to open another commuter tram in Yangon, depending on the number of commuters on the first tram, said Myanma Railways general manager Tun Aung Thin. Yangon’s first...
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CBM brings real-time settlement to banks
Myanmar’s banking system has taken another step toward modernisation, courtesy of the Central Bank’s new clearing and settlement system, which will make an “immense difference” to lenders’ day-to-day...
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IFC helps expand Myanmar’s retail business
Yangon – IFC, a member of the World Bank Group, on Monday signed an agreement to lend US$25 million to Myanmar’s largest retail group, City Mart Holding Company Limited (CMHL), to support its...
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Industry lobbies for gold and diamond trade to be legalised
Industry bodies have asked the government to strike gold and diamonds from its list of restricted goods, saying it would boost government earnings and help to combat smuggling. The Myanmar Gold...
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Kerry Logistics kicks off Myanmar’s dry port plan
Hong Kong-based company Kerry Logistics has won a concession to operate two inland ports in Myanmar, part of the government’s plan to construct a network of dry ports across the country under a United...
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Lower House MP Seeks Halt to High-Rise Construction in Rangoon
A National League for Democracy parliamentarian on Thursday put forward an urgent proposal to suspend construction of Rangoon high-rises that are not in accordance with existing laws. May Win Myint...
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SECM Warns Against Illegal Trade as Stock Exchange Readies for Business
The Securities and Exchange Commission of Myanmar (SECM) issued a warning on Wednesday against illegal trading through unofficial channels. An announcement published in state-run daily The Global New...
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Shwe Rural and Urban Development Bank opens head office
Shwe Rural and Urban Development Bank opened its head office in Yangon yesterday. The lender plans to set up 25 branches over the next five years, but will conduct most of its operations through a...
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Toyo Construction, JFE to build port in Myanmar
TOKYO — Toyo Construction and JFE Engineering have received an order from the Myanmar government to build port facilities in a special economic zone near Yangon. The order, valued at about 14 billion...
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Govt rejects China’s request for timber-based industrial zone in Myanmar
The Myanmar government has rejected China’s requests to purchase timber in log form under a tender system and to build a timber-based industrial zone in Myanmar, said Khin Maung Yi, the permanent...
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Malaysian luxury condos offered to Myanmar buyers
MYANMAR’S per capita annual income, at US$1,204, may be among the lowest in the world, but KAE Alliance believes there are plenty of rich people in Myanmar who can afford a luxury condominium unit...
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More foreign investment foreseen in 2016-2017: MIC secretary
More investment from western countries might be seen in the 2016-2017 fiscal, said Aung Naing Oo, the secretary of the Myanmar Investment Commission. Aung Naing Oo spoke to reporters during a forum...
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Myanmar aims high for gas discoveries in the future
THE RECENT discovery of gas in Block A-6 is just the first of numerous discoveries in Myanmar, which remains an attractive frontier for international oil and gas companies despite a plunge in...
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Myanmar Lower House requires journalist registration
Myanmar’s Lower House has demanded journalists who want to report on the Parliament beginning its term on February 1 must register at the press council. In a letter dated January 7 to the Myanmar...
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