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BOE to Step Up Work on Open-Ended Fund Withdrawal Issues

The U.K. is stepping up its review of open- ended funds to prevent the growing industry becoming a threat to financial stability and the economy. The review follows a number of recent issues with some funds, including a decision by star stockpicker Neil Woodford to freeze withdrawals from his...

South African Mobile Firm Cell C Moves to Delay Debt Payments

South African wireless carrier Cell C Pty Ltd. has begun talks to delay debt payments and hired consultants to probe its business practices and advise on a restructuring. The company has implemented “significant austerity measures” such as cost cuts, a review of contracts and a hiring freeze, said...

Stocks, Bonds Climb as Rate-Cut Bets Gather Steam: Markets Wrap

European equities climbed alongside U.S. futures and Asian stocks as investors cheered fresh signs from central bankers that rates are headed lower. Treasuries rose and the dollar fell. The Stoxx Europe 600 Index headed for the first gain in five days, with energy companies leading the way as crude...

Oil Rises to Seven-Week High on Gulf Storm, U.S. Stockpile Draw

Oil extended gains after closing at a seven-week high as a third of the Gulf of Mexico’s crude output was halted by a storm and U.S. crude inventories declined more than expected. Futures in New York rose as much as 0.8% after settling above $60 a barrel on Wednesday for the first time since May...

Walmart Got a $10 Billion Surprise After Buying Flipkart

When Walmart Inc. paid $16 billion for control of India’s e-commerce pioneer Flipkart Online Services Pvt. last year, the American retail giant got a little-noticed digital payments subsidiary as part of the deal. Now the business is emerging as one of the country’s top startups, a surprise benefit...

Myanmar's economy to take an upturn in FY 2016-17

According to a report issued by the Asian Development Bank (ADB), named Myanmar's Economic Outlook 2016, the Myanmar economy is forecast to take an upturn. Economic growth is slated to reach 8.4% in FY 2016-17, up from 7.2% in FY 2015-16. Inflation was at 11% in the previous year, with both...

Tech Start-ups In Myanmar

“Ideas are cheap. Execution is the hard part,” said Ko Wai Yan Lin as he pondered on the past 3-years-journey of starting up Myanmar’s first-ever car website, Myanmarcarsdb.com. When he and his two business partners initiated their start-up in early 2012, the idea of listing cars on a website for...

Bridging the Divide: Foreign Investment in Myanmar Companies

The latest figures out of DICA indicate that the first three months of FY2015 have yielded over $2 billion in FDI, setting a pace that if maintained will result in a matching of last year’s record-setting FDI of over $8 billion. While most observers agree that last year’s total will ultimately be...

IFC invests in City Mart Holding Company Limited

International Finance Corporation (IFC), a member of the World Bank Group, is providing a USD 25 Million loan to City Mart Holding Company Limited (CMHL). The loan is meant to support CMHL's expansion plans, boost the country's retail sector and create much needed jobs along the supply chain. The...

Joint-Ventures to be allowed Trading

The Myanmar Ministry of Commerce has announced that it would allow foreign firms currently partnering with Myanmar companies [ as joint ventures] to perform trading, in preparation for the full implementation of the ASEAN Economic Community (AEC). In a directive issued on November 11th, these firms...

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