Country remains on FATF watch list

Along with Myanmar, Indonesia, Ecuador and Algeria remain on the same watch list while 10 other countries were removed from it.

The FATF is the global standard-setting body for anti-money laundering and combating the financing of terrorism. 

It usually identifies countries that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system. This is to protect the system from money laundering and financing of terrorism and to encourage greater compliance with the AML/CFT standards.

 

Over 50 journalists charged with Section 18 

More than 50 journalists who staged a silent protest and over 50 Michaungkan residents who held a rally at the entrance to the Myanmar Peace Centre while President Thein Sein was meeting with artists have been charged under Section 18 of the Peace Assembly and Peaceful Procession Law, according to police.

While Thein Sein was meeting with artists at the centre on Saturday morning, journalists from local and foreign media staged a silent protest over the imprisonment of Unity journal’s journalists and the arrests and imprisonments of other journalists. Residents from Michaungkan Ward 1, 2, and 3 also protested, but over land-confiscation issues.

Ei Mon Kyaw, executive editor of Doe Taung Thu journal, which is published by People Power Media, has been rumoured to be charged under Section 18. 

“I’m sad after hearing that I’m included among those who have been charged. If I’ve been really charged, I will face the case bravely,” she said.

 

House rental charges up by 10% to 35%

Charges for residential rent in Yangon are up by 10 per cent to 35 per cent in comparison to last year, according to a real estate market survey.

Rents vary in accordance with location and residential quality. 

“Property owners are asking for higher rent based on the quality of houses and apartments,” said Sai Li from Asia Land Real Estate Agent. “Rental fees for flats and condos are higher than those from last year. The rent for flats at Yazana Garden City has also gone up. The increase has coincided with the arrival of Buddhist Lent.” 

The sale price for flats in Yangon has also increased. The prices range from Ks20 million (Bt648,000) to Ks25 million. The rent for flats in Dagon Seikkan (Yuzana) Township has soared to more than Ks10 million. A detached house has also become more expensive. 

Meanwhile, the land price in the industrial zone is seeing an increase of 35 per cent as the Thilawa project is expected to be completed by 2015, according to sources.

Office rents in Yangon are on an upward trend. Myanmar is billed as one of the countries with the highest rental charges.