Beauty businesses in Myanmar, particularly those involved in importing cosmetics ranging from body moisturisers and hair gels to lipsticks and mascaras have been hit hard by the rising value of the US dollar versus the Myanmar kyat. Around 90 percent of the Myanmar cosmetics market is dominated by imported brands manufactured by France’s L’Oreal and […]
BSI interrogates some suspected currency manipulators
September 26, 2018 by
Bureau of Special Investigation (BSI) is interrogating some individuals who are suspected of manipulating US dollars along Shwebonetha Street in Yangon, said Aung Myo, Director of the BSI. “Today, the BSI interrogates some people according to the directives in connection with the currency manipulation. The department will continue investigating people the next day. The department […]
Starbucks Suspends Move to Myanmar
September 26, 2018 by
Starbuck was plaining to open their first coffee shop in Myanmar, they have temporary suspended the operation with DICA, they plan to inform DICA about their future plans to open the store. “They filed the suspension a week ago which is only a temporarily suspension considering the situation of the world economy,’’ U Than Aung […]
MIH Launches the Fastest Fiber-optic Internet Broadband for Businesses
September 26, 2018 by
Yangon, Myanmar — Myanmar Information Highway (MIH) is the premiere broadband business service provider in Myanmar. They have introduced the fastest fiber-optic Internet broadband for business with 100 Gbps network capacity, covering 23 townships and main buildings in Yangon. Mr. Sunti Medhavikul, Managing Director of Myanmar Information Highway Limited (MIH) remarks that the communication infrastructure […]
Yoma Strategic in partnership to enter Myanmar’s heavy equipment sector
September 25, 2018 by
MAINBOARD-listed Yoma Strategic said on Monday that its subsidiary Yoma Fleet is partnering up with Myan Shwe Pyi Tractors (MSP CAT), the authorised dealer of Caterpillar-branded heavy equipment in Myanmar. Yoma Fleet is an automotive and heavy equipment financing platform, and the new partnership will support MSP CAT’s retail and rental business, as well as […]
The Price of Gold Reaches a New Record High
September 25, 2018 by
The price of Gold (99% pure gold) in local markets has set a new record high, reaching over K1 million per 1 tical (16.32 gram) on September 19. Meanwhile gold price in global market was at $1,300 per ounce in May and dropped to $1,205 on September 17. But the gold price hike in local […]
Yoma to finance MSP’s $7m heavy equipment rental
September 25, 2018 by
Singapore-listed Yoma Strategic announced a partnership with US Caterpillar’s Myanmar dealer to enter the heavy equipment rental sector in a bid to leverage on the upturn in the resource and construction industry. On September 24, Yoma Fleet, the automotive and heavy equipment financing subsidiary of Yoma Strategic, signed a partnership agreement with Thaketa-based Myan Shwe […]
Paving road in Mawtaung in Myanmar-Thailand border 70 percent complete
September 25, 2018 by
Taninthayi- Road paving of Htonnkhar-Mawtaung road section is 70 percent completed and will be finished by December. Htonnkhar-Mawtaung road section in Taninthayi Township is undertaken by Myeik Public Company and it will be complete in December according to the Company. Currently, as it is still within the monsoon season, the road is inaccessible to locals […]
Myanmar bamboo growers rising steadily
September 24, 2018 by
Myanmar bamboo farmers are experiencing renewed growth as more people become interested in the business, according to the leader of a local bamboo business organisation. U Kyaw Thu, chairman of the Myanmar Rattan and Bamboo Entrepreneurs Association, said that a few years ago there were only traditional bamboo farms in Kawhmu and Kungyangon in Yangon […]
Fifth gas discovery in Myanmar offshore Block A-6
September 24, 2018 by
Appraisal well Shwe Yee Htun-2 has been successfully drilled with formation evaluation results indicating a gas column and net pay thickness that substantially exceeds prior expectations, according to MRPL E&P. The domestic oil and gas firm said this equates to a track record amounting to 100-percent success with five gas discoveries achieved in five wells […]
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