Weekly Business News from Myanmar

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  KBZ Awarded “Best Bank in Myanmar” by Euromoney

  UK-based financial magazine, Euromoney, has named Kanbawza (KBZ) Bank the best bank in Myanmar for 2014.
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  Overland Trade Up $720m

  Myanmar’s overland trade through border hubs has seen a $720.2 million, or 41.2 percent, increase during this fiscal year until the first week of September compared with the same period last year, according to the Ministry of Commerce.
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  Auto Import Tariff Earnings $90 Million in Three Years

  The authorities have collected a total of K90 billion ($90 million) in tariffs from automobile imports into the country during the last three years, according to the Ministry of Commerce.
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  Upgrade of Yangon circular railway to cost $700 million

  The Ministry of Rail Transportation will spend more than US$700 million to upgrade Yangon’s circular railroad, according to its estimate.
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  MoU Inked: Korean Investment

  Union of Myanmar Federation of Chambers of Commerce and Industry and Korean counterpart SCCI signed a Memorandum of Understanding for trade promotion.
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  ASEAN-Japan bilateral trade reaches $240.9billion in 2013

  Union Minister for NPED Dr Kan Zaw joining hands with ASEAN economic ministers as a gesture of integration in ASEAN region.
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  ASEAN, Plus Three countries retain trade, investment momentum despite challenges

  Economic Ministers of ASEAN countries and dialogue partners China, Japan and South Korea focus on promotion of trade in ASEAN nations.
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  Thailand, Myanmar Strike MICE Deal

  The Thailand Convention and Exhibition Bureau (TCEB) joined hands with Myanmar’s apex trade body to hold trade shows and events in both countries.
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  Full Implementation of Mobile Banking May Take up to Two Years

  As Myanmar banks ramp up efforts to adopt mobile banking, it could take up to two years to fully implement the system as it requires superior technology and large mobile carriers,
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  Mining Association Eyes Commodity Market

  Villagers pan for gold at the Irrawaddy river near the town of Myitkyina in northern Myanmar.