Even though the country's trade seems to be mildly impacted by the COVID-19 last fiscal year, the Union Minister of the Ministry of Commerce has called for precautions to mitigate the impact of the pandemic in the 2020-2021 Fiscal Year as there are more possibilities of the impact.  “We can...
The Department of Trade under the Ministry of Commerce announced that it has stopped issuing import permits for vehicle imports starting from October 1st aiming to reduce foreign currency needs as the country's economy is stalling and export has dropped. According to the announcement, the junta will stop issuing permits...
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,...
အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် The COVID-19 pandemic has put an enormous pressure on the global economy; Myanmar's economy is no exception from it. The World Bank, in its recently released Myanmar Economic Monitor, revised its forecast for the country in the 2019-2020 fiscal year to be as low as 0.5 percent...
Microsoft for Startups launches the Highway to a 100 Unicorns initiative in the Asia Pacific to strengthen the region’s startup ecosystem. This follows the initiative’s success in India, where only 56 startups were selected to the Emerge X program from six states, which have over 15000+ startups. The Emerge X winners...
In an attempt to stabilize the dollar rate against Myanmar Kyat, the Central Bank of Myanmar issued a notice on October 3 ordering exporters to deposit the foreign currency earnings from the exports into the exporter's foreign currency account or sell the earning to the bank, which holds Authorized...
CB Bank launched CB Card+ mobile application for CB Bank card customers. The customers can view Card information as well as use the app to make payments at any stores which accept Visa contactless payments if their phones have NFC capabilities. CB Card+ application can be downloaded online at...
The Central Bank of Myanmar sold $2.5 million on August 12, which is the fifth time it auctioned dollars in the first two weeks of August. With this auction, the total amount of dollars, that the Central Bank of Myanmar has sold, now totals $13 million in August alone. The...
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...
Zin Thu Tun/Myanmar Business Today U Thant Sin Lwin, Deputy Director General of Directorate of Investment and Company Administration, stated that Myanmar is likely to meet the Foreign Direct Investment (FDI) expectation of $5.8 billion for Fiscal Year 2019. However, the country’s total FDI for FY 2019 is still over one billion dollars short...