Real estate agents in Mandalay said property prices in some of the region’s less populated areas have fallen by half and transactions are almost non-existent. Due to unexpected currency fluctuations, interest in the property market has dropped drastically and property agents are now focusing on properties below K100 million rather than higher-value deals, said U […]
Read MoreThe humanitarian crisis in northern Rakhine and jailing of two Reuters journalists have hit hospitality businesses in Bagan hard, industry players admitted. But the problem goes beyond these two factors, they said. The government’s lack of law enforcement and absence of infrastructure support have throttled hotels and tourism. On a recent visit, a herd of […]
Read MoreThe Bank of Thailand has initiated a cross-border fund transfer with Cambodia, Laos, Myanmar and Vietnam (CLMV) by scanning QR codes in a move to facilitate deeper integration in the region. The money transfer service will help lower fund transfer costs in the region, particularly CLMV migrant workers in Thailand who are now charged 10% of […]
Read MoreMyanmar and China are on the cusp of signing a framework agreement on the development of Kyaukphyu Special Economic Zone (SEZ) in Rakhine State, U Than Myint, Minister of Commerce and chair of the Myanmar SEZ Central Committee, told The Myanmar Times. The agreement, which is expected to be signed before the end of the year, […]
Read MoreAs the National League for Democracy-led government is half-way through its five-year term, the empty hotel rooms, plight of small businesses and falling investor confidence paint a bleak economic picture. In another 2.5 years’ time, many voters will be asking what the first NLD-led administration has delivered. The current numbers are hardly encouraging. Between April and […]
Read MoreThe Ministry of Electricity and Energy (MOEE) officially announced that the ShweYee Htun-2 appraisal well at offshore block A-6 near Rakhine State is able to produce natural gas for commercial purposes. However, U Win Khine, Union Minister of the MOEE, did not provide a timeframe on when the profit sharing contract (PSC) for development of […]
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