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KBZ Bank is suing the owner of Myanmar Industrial Port over alleged unpaid debts of more than US$200 million, in a case that is symptomatic of the problems facing the country’s leading banks as they seek to resolve legacy non-performing loans.
President Xi Jinping’s visit underscores that his country has regained its dominant position in Myanmar after setbacks under the U Thein Sein government, but China will need to be careful how it exerts its influence in the years ahead.
Facebook apologised Saturday for a distasteful mistranslation of Chinese President Xi Jinping's name from Burmese language posts during his much-touted visit to Myanmar.