The Central Bank of Myanmar issued a letter to the Authorized Dealer (AD) license holding bank containing a list of entities and individuals exempted from the controversial foreign currency conversion requirement. The Central Bank of Myanmar on April 3 issued a notification requiring all foreign earnings to be converted into...
Chairman of the State Administration Council, Senior General Min Aung Hlaing, who overthrew the civilian government on 1 February 2021, said that Nay Pyi Taw will be shaped like green, clean and smart city. The state-owned Global New Light of Myanmar quoted Min Aung Hlaing to be saying that "many...
Following an expected 18 percent contraction of the economy in the year ended September 2021, the World Bank’s Myanmar Economic Monitor, released on January 26, projects a growth of 1 percent in the year to September 2022. While reflecting recent signs of stabilization in some areas, the projection remains consistent...
Yangon International Airport has accommodated over 2,000 travellers to and from Myanmar for three days after it was reopened to international travellers and businesses on 17 April after two years of closure due to the COVID-19 pandemic. The airport accommodated 688 departures and 393 arrivals from the Yangon International Airport...
A Yangon based Korean garment factory, Yangon Pan-Pacific International Co., Ltd (YPI), announced today that it will be hiring 600 new workers while many factories and firms are struggling to keep employees. The factory said that it is hiring new staff as it is planning to expand new product lines....
Following the reports of fuel shortage at the Thilawa fuel storage facility, people rush into the gas stations across the country to buy fuel on April 19. In response to the unprecedented demand, some gas stations limited the volume of fuel that an individual car can buy in the...
While there are frequent power outages in Myanmar, the Ministry of Electricity and Energy under the State Administration Council said, in its second announcement on reduced power generation, that the power outage will continue due to the reclining power generation capacity of large power plants in the national grid. The...
အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် “If a problem arises, protect your valuable assets first,” says Mr. Christoph Vavrik, Managing Director of Myanmar Carlsberg, during an interview with Myanmar Business Today. “The most important asset in a company is not necessarily a brand or exploration rights for an oil company or real estate....
Samsung Electronics Co., Ltd held its Galaxy A Event on March 17, 2022, where the latest Galaxy Innovations for the brand’s most popular smartphone category were unveiled. Samsung Maynmar is now accepting pre-orders for the latest Galaxy A53 5G smartphone starting from March 18 to 27 with a bundle of...
The International Labour Organization (ILO) estimated that some 1.6 million jobs were lost in Myanmar in 2021 with the military takeover compounding the impact of the COVID-19 pandemic. Among the population impacted by the weakened labour market, women workers were hit most. Working hours are estimated to have decreased 18 per...