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Impact of oil firms’ exit from Myanmar limited

The exit of the energy giants TotalEnergies and Chevron from Myanmar’s billion-dollar gas industry has been hailed by rights groups, but analysts say it will not significantly weaken the generals and may even enrich the military in the short term. Both firms had faced pressure to cut financial links with the junta that toppled Aung […]

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Myanmar: NUG to replace Kyat with cryptocurrency

The NUG’s Ministry of Planning, Finance, and Investment has announced that USDT or USD Tether will be Myanmar’s official currency, instead of the Myanmar Kyat, ambcrypto.com reported. Tether is a cryptocurrency that is hosted on the Ethereum blockchain with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether […]

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Two Myanmar-China border crossings re-open for trade

AFP – Two Myanmar-China border crossings have re-opened for trade after the movement of goods was suspended for almost seven months due to Covid-19 restrictions, officials said. Five shipping containers of produce were exchanged on Friday at the Kyin San Kyawt border gate, around 11 kilometres (6.8 miles) from the northern Myanmar city of Muse. Min […]

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