While town had few human casualties, three-quarters of Yangon's industrial infrastructure was destroyed or damaged, with losses estimated at US$800 million. With over five million individuals, Yangon is Myanmar's most populous city and its most necessary industrial centre. The Yangon Heritage Belief, an NGO began by Thant Myint-U, aims to create heritage areas in Downtown, and attract buyers to renovate buildings for commercial use. The colonial-period business core is centered around the Sule Pagoda, which is reputed to be over 2,000 years old. Soon after Burma's independence in 1948, many colonial-period names of streets and parks have been modified to more nationalistic Burmese names. There is an array of selections, from native enterprises to international names. In 1989, the navy junta modified the town's English identify to "Yangon", together with many different changes in English transliteration of Burmese names. In November 2005, the military authorities designated Naypyidaw, 320 kilometres (199 mi) north of Yangon, as the brand new administrative capital, and moved much of the federal government to the newly developed metropolis. In the nineteen nineties, the military government's extra open market insurance policies attracted home and international funding, bringing a modicum of modernity to the town's infrastructure. During the course of year 1961 to nineties, average temperatures present little variance, with average highs ranging from 29 to 36 °C (eighty four to ninety seven °F) and common lows ranging from 18 to 25 °C (sixty four to 77 °F).
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