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...
Yangon International Airport has accommodated over 2,000 travellers to and from Myanmar for three days after it was reopened to international travellers and businesses on 17 April after two years of closure due to the COVID-19 pandemic. The airport accommodated 688 departures and 393 arrivals from the Yangon International Airport...
Following the reports of fuel shortage at the Thilawa fuel storage facility, people rush into the gas stations across the country to buy fuel on April 19. In response to the unprecedented demand, some gas stations limited the volume of fuel that an individual car can buy in the...
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...
Samsung Electronics Co., Ltd held its Galaxy A Event on March 17, 2022, where the latest Galaxy Innovations for the brand’s most popular smartphone category were unveiled. Samsung Maynmar is now accepting pre-orders for the latest Galaxy A53 5G smartphone starting from March 18 to 27 with a bundle of...
MGI Tech Co., Ltd. (MGI), a global life science leader and innovator, is contributing to COVID-19 control and prevention in Southeast Asia as the pandemic continues to pose a formidable challenge to public health systems in the region. MGI has developed Champa LSEA Laboratory, the first 3rd party detection...
The local gold prices that have been skyrocketing since last year now hit MMK2 million per tical again after reaching MMK 2.2 million per tical in late September 2022. A tical of gold is equivalent to 16.32 grams or 0.576 oz. In the afternoon of March 8, the gold price...
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...