US lifts ban on most Myanmar imports

In order to boost reform in Myanmar US President Barack Obama has trashed a nearly decade-old ban on most imports from Myanmar. Thus, US economy will now open up to products from the Myanmar (formerly known as Burma).

The exception to the imports would be gems, which is considered as a sector which is a major driver of corruption and violence.

US President Obama is the first sitting US president to visit Myanmar.

US held that in spite of the favourable changes, the US remained worried about continued political prisoners, ethnic conflict, corruption and Myanmar’s lingering military ties to North Korea.

Month: Categories: International

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SEBI eases Mutual Fund exposure limit for HFCs

SEBI eased the the investment limit for HFCs (Housing Finance Companies) in debt mutual funds. An additional exposure not exceeding 10% of net assets of the scheme shall be allowed only to HFCs as part of financial services sector for prudential limits in debt oriented schemes.

The relaxation would be subject to certain conditions such as:

  • The securities issued by HFCs are rated ‘AA’ or above
  • The HFCs should have been registered with the National Housing Bank (NHB)
  • The total investment in HFCs shall not exceed 30% of the net assets of the scheme

Month: Categories: Business, Economy & Banking

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