CarsDB, the online retailer reshaping Myanmar’s car market, sold over 500 cars at their auto show held on last month at The One Entertainment Park in Yangon. The event was aimed at car lovers, car retailers and those wishing to sell – all of whom gathered to browse and discuss all things car-related in the […]
Export earnings rise in 2014-15 FY
February 19, 2015 by
Myanmar’s total export earnings for this fiscal year exceeded US$970 million more than last year’s earnings, according to the commerce ministry. Between April 1 and February 6, Myanmar earned more than US$4.8 billion from exports, including natural gas and finished industrial products. In the same period in the 2013-14 fiscal year, Myanmar’s total export earnings […]
Economic reforms gain momentum
December 31, 2014 by
It’s been almost four years since President Thein Sein came to power and launched his reform programme. This year sees Myanmar attempt to connect to the global economy. The economic reform is a long road ahead that requires strong efforts from both the government and private sectors. There is some progress, especially in the liberalisations […]
Skyrocketing commodity prices will affect millions
December 4, 2014 by
Basic commodity prices rose at the end of November due to the appreciation of US dollar throughout the month and the news that salaries of parliamentarians and civil servants will be increased. Critics say that the government must address these two causes in order to reverse the hike in the commodity prices. The greenback hit […]
Central Bank Reduces US Dollar Sales to Private Lenders
November 12, 2014 by
YANGON — The Central Bank of Myanmar has sharply reduced its sales of US currency to private banks since late October, according to banking industry sources. Since the end of last month, the Central Bank has decreased its sales of US currency by around $3 million per day, in the face of a strengthening US […]
Myawady border trade down by US$12 million
June 18, 2014 by
The Myawady town on the Myanmar – Thai border has recorded over US$33 million in total trade volume over the last two months, according to the department of commerce and consumer affairs. US$2.8 million has been earned from Myanmar exports and over US$30 million had spent on imports between April 1 to May 30 this […]
Myanmar’s emerging rich
April 24, 2014 by
As Myanmar’s economy steadily grows, a higher percentage of Yangon’s population are finding themselves with more cash to spend. Imported products from Thailand and Hong Kong can be seen on display in downtown shopping malls – something that would have been impossible two years ago as foreign goods were banned under the military junta. Big […]
Electricity Rate Hike Could Hurt Competitiveness, Raise Consumer Prices
March 26, 2014 by
YANGON — Last week, Parliament approved a government proposal to introduce a long-expected hike in electricity prices per April 1. Business sector representatives now warn that the measures will undercut the competiveness of Burmese industries and lead to a rise consumer prices. Under the new plan, for households using under 100 kilowatt hours, or units, […]
Burma to Allow Foreign Banks to Begin Some Operations Next Year
December 9, 2013 by
Ground clearance and basic infrastructure preparation work has begun on an industrial estate inside the Thilawa Special Economic Zone, said the Japanese Kyodo News agency. A ceremony marking the start was attended by Japan’s Mitsubishi Corporation, Marubeni Corporation and Sumitomo Corporation plus nine Burmese business partners and Naypyidaw government representatives, said Kyodo. Mitsubishi, Marubeni and […]
