First foreign bank in decades opens in Myanmar

The first foreign bank to operate in Myanmar for decades officially opened the doors of its Yangon branch Wednesday, the latest government attempt to attract more foreign investment to the emergent nation. Myanmar's quasi-civilian administration, which replaced a military regime in 2011, is trying to modernise the creaking banking system to increase capital flows to local businesses and to spur investment, particularly in the nascent special economic zones, to ease poverty. Approved foreign