Edible oil prices have been gradually increasing doubling the prices of last year. A viss of edible oil hit K5600-6000 compared to around K2600 last year. The reason for the edible oil price hike is due to inadequate stock in the local market while the edible oil prices are also...
Myanmar Agriculture Development Bank (MADB) announced that it has extended the repayment period for the Covid-19 relief loans and 2021 winter crops loans. The bank said that the extension of the repayment period is to ease the hardship of the farmers amid Covid-19 travel restriction, and disruption in trade flow...
Myanmar started exporting corn to its neighboring country, Thailand, under a tax exemption program through the Myawady border trade post on February 1. On the first day, the country exported over 2,000 tons, however, it was less than the amount it exported on the first day last year. Under the bilateral...
Samsung Electronics Co., Ltd. has introduced the Galaxy A03, the first and freshest smartphone in 2022. The Galaxy A03, which is one of the affordable smartphones, is built with an extensive 6.5-inch Infinity V display that features powerful performance, persistent battery, and supports amazing camera experience. “Being committed to providing...
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...
The Yangon West District Court, on January 26, rejected the dissolution of Myanmar Brewery, a joint venture between Japanese brewer Kirin Holdings and Myanma Economic Holdings (MEHL). "The Order upholds Kirin Holdings’ position that the Petition should be dismissed because the statute on which the Petition is based is incorrect....
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...
The Central Bank of Myanmar sold $10 million on January 13 at the rate of MMK1,778 per dollar. This is the third time that the Central Bank of Myanmar sells millions of dollars in January alone. The first time was $15 million sold on January 7 and another $15 million...
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...
The State Administration Council has imposed K20,000 per SIM card on the sales and activation of the SIM Cards and 15% commercial tax on internet services after amending Union Tax Law 2021. "No matter what provisions the Commercial Tax Law comprises, only once commercial tax shall be levied K20,000 per the...