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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...
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....
Telenor Group has announced today that it has entered into an agreement to sell 100 percent of its mobile operations in Myanmar to M1 Group for a total consideration of 105 million USD (approximately 900 million NOK), of which 55 million USD (approximately 470 million NOK) is a deferred payment over five years. 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....
The local gold price when the market closed on Friday, September 10, was at K1.91 million per tical compared to K1.855 million on September 13 representing around a K50,000 drop over the weekends. (tical= 16.3 g) Global gold price is USD $1,789 per ounce on September 13. The local gold price...
The Central Bank of Myanmar has auctioned USD 15 million in a day for the first time in September at the rate of MMK 1,750 per dollar while the rate in the informal market was at MMK1,900-2,000 per dollar. The dollar rate against Myanmar Kyat keeps breaking records since March,...
Zin Thu Tun The Rakhine State Government has called for more proposals for an industrial zone project in Ponna Kyun. It started selling K10,000 proposal forms on December 18 and the deadline for submission is January 17. The state government has received one proposal, from a local company, Pyaywachanthar, for a...
Private-sector development program DaNa Facility announced a call for applications to the Fintech Challenge Myanmar 2020 on January 21. The aim of the challenge is to foster fintech solutions that can improve the quality and quantity of financial services to the underserved and unbanked. DaNa Facility organizes the event in collaboration...
By Brenna Hughes Neghaiwi and Simon Jessop ZURICH/LONDON (Reuters) - As stock markets roar back from the coronavirus-led rout, advisers to the world's wealthy are urging them to hold more gold, questioning the strength of the rally and the long-term impact of global central banks' cash splurge. Before the COVID-19 pandemic,...
Written by Min Thu Aung Before Myanmar gained independence in 1948, there were 110 insurance companies in the country and only two of them were locally owned. The number had dwindled to 74 (four being locally owned) before 1963, the year the country nationalized private companies resulting in an insurance...