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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...
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....
M1 Group announced that the Myanmar Investment Commission has approved Telenor Group’s application for the sale of Telenor Myanmar to Investcom PTE Ltd., an M1 Group affiliate. M1 Group said that it will be working with Telenor Group and all stakeholders to ensure continuity, stability, and reliability for all Telenor...
Despite challenges in the telecom sector and internet shutdown, Ooredoo Myanmar says that the revenue in 2021 grew by 8% compared to 2020. "During 2021, COVID and directed shutdown of internet services did have impacts on Ooredoo Myanmar’s revenue but in the last quarter of the year, revenue did recover,"...
The Central Bank of Myanmar has now allowed Baht as an official settlement currency for Thai-Myanmar border trade, according to its announcement on March 3, 2022. The move aims to improve trade between the two countries, streamline the payment and trading as well as to increase the use of local...
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....
Freight forwarding companies have to rest some of their trucks due to lower demands as trading activities at the Myanmar-China border trade gate have eased. Moreover, the goods to transport have also reduced while there are mounting difficulties in transportation. "If the Yangon-Muse trade route is working properly, out freight...
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...