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Myanmar: Withholding tax holds back gold exports

Despite permission to export Myanmar produced gold and gold jewellery, local traders have not taken advantage of the opportunity due to the withholding taxes involved, insiders said. Traders are expected to pay a withholding tax of 2 percent on the amount of gold they wish to export. “At that level of taxes, it is no […]

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Cambodia: National bank to embrace Industry 4.0

The National Bank of Cambodia (NBC) will continue to promote the development of the Fourth Industrial Revolution in the Kingdom’s financial sector, according to its Macro-economic and Banking Sector Development in 2018 and Outlook for 2019 report released last week. The report said the continuing development of human resources and technology is important for maintaining […]

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Malaysian palm price slips on caution ahead of Dec data release

KUALA LUMPUR: Malaysian palm oil futures fell on Monday, a second drop in four sessions, as traders remained cautious over official data due to be released by the industry regulator this week. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed down 0.6 percent to 2,160 ringgit ($524.78), while trading volumes stood at 30,366 lots […]

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Asean economic meeting to focus on 12 top issues

As chair of Asean this year, Thailand is set to host the first senior economic official meeting (Seom) during Jan 12-18 in Bangkok, highlighting 12 key economic issues as top priorities.  Auramon Supthaweethum, director-general of Trade Negotiations Department, said the issues for the first Seom comprise how to reduce transaction costs by 10% in 2020, […]

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