Even as democracy continues to flounder in neighboring Thailand, Myanmar registered a monumental event last week, when it swore in its first democratically elected civilian president in over five decades. To be sure, this isn’t the end of the struggle for democracy in Myanmar. The country’s laws still reserve key subjects of governance – including home, defense, and border affairs ...

Much ink and many pixels have been spilled over the past few years about the rise of the gig economy, sharing economy, on-demand economy, 1099 economy, freelancer economy or whatever you prefer to call it. Some of the claims about its growth have been overstated, and I’ve written several columns trying to debunk them, or at least put them in ...

New Delhi / AFP India’s central bank on Tuesday cut its key interest rate to a five-year low of 6.5 percent citing a dip in inflation, and signalled there could be further rate cuts to come. In a widely expected move, the Reserve Bank of India (RBI) said it would lower the benchmark repo rate, the level at which it ...

Bloomberg France is planning to join the Netherlands in taking steps toward greater transparency in the European Central Bank’s (ECB’s) 80 billion euros-a-month ($91 billion) quantitative-easing (QE) programme, according to a person with direct knowledge of the plans. In the first disclosure of its kind in 13 months of QE, the Dutch Central Bank has listed price and demand figures ...

Shanghai / Reuters China’s banking regulator said on Tuesday that lenders should tighten risk controls in their overseas branches, after some of the country’s top banks have come under foreign scrutiny for alleged compliance failings. Banks should clarify the responsibilities of staff in overseas branches, strengthen judgment of risk and make sure adequate checks are made on clients, the China ...

Reuters Bank Muscat has received all regulatory approvals to open a representative office in Iran, Oman’s largest lender said in a bourse filing on Tuesday. “The bank is in the process of registering the representative office and expects it to open later in 2016,” Bank Muscat said. On February 25, the bank said it planned to open an office in ...

Tokyo / Reuters Bank of Japan Governor Haruhiko Kuroda stressed on Tuesday his readiness to expand monetary policy still further, saying that market moves would be key factors the central bank would examine in deciding when and how it might next expand stimulus. Kuroda maintained his optimism that Japan’s economy was recovering moderately, despite last week’s ‘tankan’ survey that showed ...

ZURICH / Reuters For much of its 125 years selling luxury goods, Switzerland’s family-run emporium Bongenie Grieder has been the kind of place where affluent shoppers felt at ease and staff were confident they had a job for life. Then came January 2015’s ‘franc shock’ when the Swiss National Bank’s (SNB) dramatic decision to lift a cap against the euro ...

Reuters Department store operator Hudson’s Bay Co reported a smaller-than-expected quarterly profit as expenses soared and sales at established Saks Fifth Avenue stores dropped. The company’s cost of sales rose 74 percent in the fourth quarter ended January 30, while its selling, general and administrative expenses almost doubled. Saks Fifth Avenue, the company’s luxury chain, reported a 1.2 percent drop ...

Bloomberg Jambojet, the low-cost carrier owned by Kenya Airways Ltd., plans to add seven routes in east Africa in the next five years to expand in the region. The airline, which says it controls 37 percent of Kenya’s domestic aviation market, is considering starting its first international route this month, Chief Executive Officer Willem Hondius said in an interview in ...