News
KBZ and Microsoft sign tech deal
Microsoft has signed an agreement with Kanbawza (KBZ) Group of Companies, which the US company calls its largest IT tie-up in Myanmar to date. The multi-year corporate agreement represents a significant commitment to the Myanmar market, even as some investors employ wait-and-see attitudes around the question ...
Myanmar Central Bank official responds to NLD’s call for greater autonomy
To encourage an autonomous Central Bank of Myanmar (CBM) is one of the priorities outlined by the National League for Democracy (NLD) in its draft economic policies, but officials say they are already on the right track. The draft will likely be used as a basis ...
China calls for border stability in Myanmar ahead of elections
China’s defense minister has urged Myanmar to maintain stability on their common border as it prepares for what Beijing hopes will be successful elections in November, the defense ministry said on 22 September. Myanmar holds an historic election in November, when the military-backed ruling party will compete with the ...
Myanmar grants more firms to invest this month
Myanmar Investment Commission (MIC) has granted 17 local and foreign firms to make investment in the country this month, sources with commission said on 22 September. Keep reading ...
Lightning triggers another blackout in Yangon
Electrical engineers blamed lightning for the nearly citywide blackouts in Yangon on 17 September, and dismissed social media rumours suggesting election-related manipulation. One of the main power lines connecting Yangon with Meiktila township in Mandalay was damaged by a monsoon storm rolling through southern Myanmar, according ...
Myanmar's economy risks overheating: IMF
Myanmar’s economy is showing strong signs of overheating and has become increasingly vulnerable over the past 12 months amid rising macroeconomic imbalances, according to the International Monetary Fund (IMF). An expansionary budget and limited monetary policy tools will see inflation at 13 percent by year-end, the ...
Myanmar-China illegal timber trade still thriving: report
Timber extracted from Myanmar’s frontier forests is flowing into China in illegal transactions worth hundreds of millions of dollars a year, according to a report published on 17 September. The research, by the UK-based Environmental Investigation Agency (EIA) and partly financed by the UK, the European ...
Sweet plans for future of Shan honey
Honey may soon join wine and coffee as among Shan State’s best-known local commodities, as production grows. Myanmar is set to export about 3500 tonnes of the sweet stuff this year, and experts say the “Made in Myanmar” honey label may soon spread. Rabbi Yossi Ives, chief ...
World Bank approves $400m electrification loan
The World Bank approved a US$400 million interest-free loan to provide financing and technical assistance to help bring electricity to more than 6.2 million people in Myanmar, the bank announced on 17 September. The loan will support Myanmar’s National Electrification Plan and was granted by the ...
Rebels warn political parties to halt election campaigns amid clashes in Myanmar’s Shan State
Armed ethnic rebels in eastern Myanmar’s Shan state have warned political parties to suspend campaigning for national elections slated for November amid ongoing clashes with the country’s military in the region, citing safety concerns.In a statement issued on 16 September, the Restoration Council of Shan ...
