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Singapore-listed Yoma to get $100mn ADB loan for Myanmar projects SINGAPORE: The Asian Development Bank has approved a loan of up to $100 million to Singapore-listed Yoma Strategic Holdings, which the company said it plans to use to invest in infrastructure and logistics projects in Myanmar. Yoma said $50 million would be earmarked to build telecom towers, develop cold storage logistics and vehicle fleet leasing. The second half of the loan will fund other projects in transportation, distribution, logistics and other sectors. Yoma, chaired by tycoon Serge Pun, is trying to expand beyond real estate by partnering with international companies trying to enter the Myanmar market. Last month, it said it was partnering with Japan's Mitsubishi Corp and Jalux Inc to operate Myanmar's second-largest airport and expand it into a regional hub. It has also tied up with Yum Brands Inc to debut a KFC restaurant in Myanmar in 2015. Copyright Reuters, 2014 ...

BoJ to stand pat as Abe's poll win offers hope in deflation fight TOKYO: Prime Minister Shinzo Abe's landslide victory in Sunday's vote may be a double-edged sword for the Bank of Japan, which is looking to work with Abe to push for wage growth but may also face pressure to expand stimulus to bolster the fragile economy. At the two-day meeting ending on Friday, which is the last review for the year, the central bank is widely expected to keep monetary settings unchanged and offer a slightly ...
BoJ tankan: Japan firms expect CPI to rise 1.4pc a year from now TOKYO: Japanese companies expect consumer prices to rise an average 1.4 percent a year from now, slightly lower than their projection three months ago, a central bank survey showed on Tuesday, underscoring their doubts over the Bank of Japan's pledge to achieve its 2 percent inflation target next fiscal year. Three months ago, companies expected prices to rise 1.5 percent over the next year. Firms polled by the BOJ, as part of its detailed "tankan" ...
Russian central bank hikes interest rate to 17pc from 10.5pc MOSCOW: The Russian central bank said it has decided to hike its key interest rate to 17 percent from 10.5 percent. "This decision is aimed at limiting substantially increased rouble depreciation risks and inflation risks," the central bank said in a statement.The decision is effective from Dec 16. The central bank added that in order to strengthen the efficiency of monetary policy loans secured by non-marketable assets, guarantees for two to 549 days will be ...
NAB sells $1.9bn UK commercial real estate loans SYDNEY: National Australia Bank on Tuesday said it will sell an additional 1.2 billion pounds ($1.88 billion) of mostly non-performing UK commercial property loans to private equity firm Cerberus Global Investors. NAB, Australia's fourth largest bank by market value, has made exiting its UK operations a priority after writedowns for the troubled business led to a 10 percent decline in annual cash profit. In July, it had agreed to sell 625 million pounds of mostly ...
Russian economy likely to contract early next year MOSCOW: Russia's central bank said on Monday it was likely the economy would contract in the first quarter of next year and that it perhaps by around 4.5 percent in 2015 as a whole if oil prices average $60 a barrel.The bank also said in a monetary policy document that capital outflows in the fourth quarter would rise to levels comparable with those in the first quarter and forecast significant outflows for the next three ...
Brazil central bank director urges tighter fiscal policy RIO DE JANEIRO: The Brazilian government needs to tighten fiscal policy to help bring down inflation and strengthen the country's economic framework, central bank director Luiz Awazu Pereira said on Monday.A surge in public spending under President Dilma Rousseff along with record low unemployment have kept inflation high in Brazil, hurting both business and consumer confidence in the once booming economy."Now we need to return to a neutral fiscal balance and create the conditions to ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln