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...
People in Thailand, including foreigners, who fail to wear a face mask when out in public face being prosecuted, a senior spokesperson for Thailand’s COVID-19 task force said on Monday (Nov 22). Dr. Apisamai Srirangson, spokesperson for the Centre for Covid-19 Situation Administration (CCSA) said since Thailand had reopened to...
Myanmar Economic Holding has filed for winding-up of its brewery business called Myanmar Brewery Company Limited, which produces Myanmar Beer, Adman Gold, and Black Shield as well as Kirin Beer, according to the announcement published in Myanmar Alin Newspaper on November 22. The announcement said that Myanmar Economic Holding will...
After the Central Bank of Myanmar has tightened the dollar exchange rate to between 0.5% of its reference rate by an order issued on November 9,  the dollar rate against Myanmar Kyat has dropped to MMK 1,778 per dollar today. Following the order, there were more buyers than sellers in...
Myanmar Airways International's 4th Airbus 320 has arrived at Yangon International Airport on November 1, 2021. The newly arrived Airbus 320 was added to the MAI fleet along with three Embraer E190s, three Airbus 320s, and four Airbus A319s. Currently, the Department of Civil Aviation has extended the Effective Period...
A KBZ Bank branch located on the Maha Bandoola Road between 47th and 48 streets was robbed by a group of masked robbers this afternoon, according to the locals near the branch. Now, security forces are investigating the nearby area and the robbers went away with K300 million, according to...
Yangon Gold Enterpreneur Association (YGEA) is working on innitiating Paper Gold scheme, which allows people to trade gold using the gold certificate issued by the banks. Under the paper gold system, gold is deposited at the banks as assets, for which the banks issue certificate equivalent to the deposited gold....
Central Bank of Myanmar has now allowed Authorized Dealer license holding banks and non-bank financial institutions to buy and sell Chinese yuan and Japan Yen, according to the notice issued on October 12. It has already allowed the US dollar, Euro, Singapore Dollar, Baht, and Ringgit to be traded in...
China, Myanmar’s major trade partner, has closed all the border tradeposts on the Myanm-China border with the closure of Chin Shwe Haw border trade gate on October 6 with the excuses to curb the spread of COVID-19. China has restricted imports from Myanmar through a $450 million Chin Shwe since five...