Myanmar allows full foreign ownership in retail and wholesale

YANGON — Foreign companies are now allowed to invest in Myanmar’s retailers and wholesalers, including holding 100% stakes, as the country makes efforts to lift foreign investment amid the Bengali refugee crisis. The Ministry of Commerce announced the change on Friday, explaining that it wants to increase competition in the sectors and promote price stability […]

Emerging markets hold hope for smartphone shipment growth

Global smartphone shipments continued to weaken in the first quarter (Q1) of 2018, according to analysts. Canalys says shipments were down 3.4%, continuing the trend from a decline of 3% in Q4 2017. Worldwide sales of smartphones recorded their first decline since 2004, in Q4 of 2017, says Gartner. Global sales of smartphones to end-users […]

Infrastructure, safety standards needed for LPG industry to take off

The government is now more than half way through its term and time is running out for it to make good on its promise to double Myanmar’s supply of electricity within the next two years. But the government is not without backup plans to help it achieve its goals, one of which is replacing the […]

Alibaba buys Rocket Internet’s Daraz to expand its e-commerce empire into South Asia

Alibaba has expanded its e-commerce empire into South Asia after the Chinese internet giant acquired Daraz in an undisclosed deal. Daraz was founded in 2012 by Rocket Internet and today it operates in Pakistan as well as Bangladesh, Myanmar, Sri Lanka and Nepal. Rocket said in a statement that Alibaba has acquired the entire Daraz […]

Could Myanmar Get Its Foot in the Door When it Comes to Gambling Legalization?

The gambling industry is in a constant state of development and progress and this could be easily seen when the focus is on the developing markets. One such example of a country attempting to make a move and explore the vast opportunities provided by the gambling industry is Myanmar. Also known as the Republic of […]

Telenor gears up to offer a Myanmar record for data speeds

AS MOBILE data consumption in Myanmar soars to some of the highest levels in the world, Telenor Myanmar plans to offer its subscribers a record speed for the country of 1 gigabyte per second (Gbps) in the near future, said Lars Erik Tellmann, the firm’s chief executive officer. Tellmann said at a press briefing on […]

Telenor’s Cost-Cutting Focus Rattles Investors

Telenor’s first-quarter numbers should have been a treat for any investor. Up 20% year-on-year, to 4.99 billion Norwegian kroner ($630 million), first-quarter net profit easily beat analyst expectations of NOK3.53 billion ($450 million). Dividend payments to shareholders could total NOK18.6 billion ($2.35 billion) this year, up from just NOK11.3 billion ($1.43 billion) in 2016. “It’s […]

Myanmar group blasts Zuckerberg’s claim on Facebook hate speech prevention

It’s becoming common to say that Mark Zuckerberg is coming under fire, but the Facebook CEO is again being questioned, this time over a recent claim that Facebook’s internal monitoring system is able to thwart attempts to use its services to incite hatred. Speaking to Vox, Zuckerberg used the example of Myanmar, where he claimed […]

China’s poverty alleviation efforts in Myanmar help ease Rakhine State situation

China has been paying close attention to the Rakhine State conflict in Myanmar and the ensuing refugee exodus to Bangladesh. In March, during the legislative two sessions, Foreign Minister Wang Yi said China has always insisted on a peaceful and rightful way of dealing with international affairs, especially those at the center of attention. Nearly […]

Bangladesh’s policymakers should get to the bottom of low FDI

Policymakers should find the reasons behind the low inflow of foreign investment to Bangladesh despite a number of agencies’ efforts to boost receipts, said a top official of an investment agency yesterday. “We have a number of organisations and yet foreign investment inflows are no more than $2.5 billion,” said Paban Chowdhury, executive chairman of […]