Myanmar has the potential to quadruple the value of its economy to US$200 billion by 2030 if it presses on with reforms, embraces technology and shifts away from agriculture, a study said Thursday.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has shut production at 12 risky buildings in and around Dhaka, in its first move to tighten compliance in the apparel sector after the fatal Rana Plaza collapse on April 24.

Myanmar's currency has plunged more than 7 percent over the past month to the lowest since it was floated last year, raising concern about economic stability in Asia's newest democracy.

Sri Lanka's central bank Friday cut benchmark lending rates by 50 basis points, saying the move was to designed to encourage growth amid sluggish economic activity this year.

The International Monetary Fund (IMF) said Monday it is “carefully” monitoring massive capital flows into Asia and urged the region's policymakers to guard against risks of overheating.

The number of internationa l shipments at Yangon port has doubled within one year, the highest volume in a decade, according to Myanmar Port Authority.

Run by Maoist revolutionaries and plagued by poverty, Nepal is not the most obvious place to make big bucks. But Binod Chaudhary, the country's first billionaire, sees no reason why his breakthrough shouldn't inspire other success stories.

Foreign firms will be granted full rights to Myanmar's deepwater oil blocks, the energy ministry said Tuesday, a first in a lucrative sector once closely controlled by the corrupt former junta.

The image was meant to convey growing friendship between the United States and Myanmar, the world's hottest frontier market. Flanked by national flags, Win Aung, the president of Myanmar's main business association, and U.S. Assistant Secretary of State Jose Fernandez shook hands in Yangon and agreed to deepen business ties between their countries.

A World Bank official said Friday that Myanmar has “enormous potential” as it undergoes reforms, which have led the Washington-based lender to launch a drive to bring electricity to millions.