Lucia Mutikani
WASHINGTON (Reuters) - Layoffs in the United States are abating, but millions who lost their jobs because of COVID-19 continue to draw unemployment benefits, suggesting the labor market could take years to heal from the pandemic even as businesses resume hiring workers.
The weekly jobless claims report from the...
By Pete Schroeder
WASHINGTON, June 1 (Reuters) - U.S. financial regulators, banks and their investors will get their first glimpse into the health of the nation's banking system as it confronts soaring corporate and consumer defaults in the economic crisis sparked by the novel coronavirus.
And no-one, including the U.S. Federal...
DUBAI, June 1 (Reuters) - Emirates' outgoing President Tim Clark on Monday said it could take the state carrier up to four years to resume flying to its entire network that has been decimated by the coronavirus pandemic.
The Dubai-based airline, which flew to 157 destinations in 83 countries before...
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...
LONDON (Reuters) - Britain’s Financial Conduct Authority said on Thursday it has fined Lloyds Bank (LLOY.L) 64 million pounds ($81.26 million) for failures in handling mortgage arrears.
Lloyds and its Bank of Scotland and The Mortgage Business units have estimated that they will have paid approximately 300 million pounds in...
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...
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...
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...
A group of seven robbers robbed the AYA Bank’s cash carrier van on the old Yangon-Mandalay highway between Lat Pan Won Village and Thar Yar Aye Village in Inndagaw Township, Bago Region around 2 p.m. on September 13.
Although local media reported that the robbers got away with money as...
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....