BANGKOK — The Central Bank of Myanmar plans to exempt foreign-owned companies from forced exchanges of hard currency into local kyat, people familiar with the matter said, in a loosening of a rule that critics say risks deepening the Southeast Asian country’s isolation. Central bank policymakers informed banking officials of the exemption at a meeting […]
Corporate Japan urges Myanmar to address business concerns
December 10, 2018 by
The most senior Japanese business leader in Myanmar urged the government to recognise how liberalisation, efficient bureaucracy and reliable power supply allowed Thilawa Special Economic Zone (SEZ) to attract considerable investments. He also warned that current restrictions placed on foreign firms in the retail and wholesale sector are already “the maximum” but commended the ministry’s […]
Yoma Land rebrands housing projects to push sales
September 13, 2018 by
Yoma Land last week held an event to promote and sell units at three of its projects: StarCity, Galaxy Towers and Lotus Hill in Pun Hlaing Estate. The projects were branded as special lifestyle residential homes equipped with spacious landed compounds, full services and facilities. This attracted the interest of local and foreign buyers, said […]
Kyat stabilises after CBM pumps US$4 million into economy
August 23, 2018 by
The dollar tapered against the kyat on August 16 after the Central Bank of Myanmar (CBM) sold a record US$4 million to local private banks. That helped ground the exchange rate, which is up by around 10 percent since May. To place a floor under the depreciating kyat, the CBM has sold US$100,000 per day […]
Over the last year, Myanmar’s energy sector stumbles in right direction
May 19, 2018 by
Home to one of the world’s oldest oil and gas industries, oil exploration in Myanmar began in the early Bagan era. During the reign of King Anawrahta in the Bagan Era, evidence shows that the Buddha’s Three Teachings were coated with oil to prevent damage. With the nationalisation of the oil industry in 1963, the […]
Myanmar’s tourism industry faces challenges
June 29, 2017 by
Myanmar’s tourism industry has experienced a significant decline compared to previous years. To understand the causes for this development the Global New Light of Myanmar interviewed U Thet Lwin Toe, chairman of Myanmar Tourism Entrepreneurs Association. Q: May I know current situation of tourism industry? The country’s tourism sector rose in 2012 like a tsunami. […]
‘Myanmar Banker Leadership Program’ launched
June 1, 2017 by
Siam Commercial Bank (SCB), in collaboration with Myanmar Banks Association and Thammasat University, launches SCB Bankers Academy “Myanmar Banker Leadership Program”, the first program exclusively developed for Myanmar banking executives, according to a press release. To foster talent in the banking industry, the program is specially tailored for Myanmar banking executives to build skills and […]
