Yangon lacking resilience to face future disasters

Nothing is normal these days when it comes to Myanmar’s weather. In Yangon, residents talk about a time when they used to wear sweaters or scarves in the colder months, when the early morning was crisp and people would exercise to stay warm. Not anymore. Yet, this rise in temperature is just a small indicator […]

Typewriting the future: A dying art in a changing city

The tapping of keys is a familiar sound ringing through the old downtown streets of Yangon. Mostly older typists sit on small enclaves in crumbling colonial buildings and on street corners under colourful umbrellas, their fingers a fury of precision. Using typewriters often older than themselves, they write up the likes of bonds, marriage certificates, […]

Hydropower threatens peace in Myanmar — but it doesn’t have to

Myanmar faces a critical moment for investment decision-making. The Barack Obama administration’s move to lift sanctions on the Southeast Asian country has opened up new opportunities. But the moves that are made today will send political and economic ripples into the future, and the international community must act responsibly. China wants to finance a 3,600-megawatt […]

Uber and Grab are bringing Southeast Asia’s taxi on-demand war to Myanmar

Southeast Asia’s ridesharing war is spreading to a new frontier after rivals Grab and Uber revealed plans to expand into Myanmar, the country formerly known as Burma. Singapore-based Grab announced its launch in the country today, its first new market expansion in nearly three years, to take it to seven markets… but its U.S. rival […]

Myanmar’s AGD Bank Seeks Foreign Partners, Has Talked With Uber

Myanmar’s Asia Green Development Bank Ltd. is seeking foreign partners and has held talks with Uber Technologies Inc. as it seeks to harness digital platforms to service the most under-banked country in Asia. The lender’s search for ride-sharing partners included “very preliminary” discussions with Uber’s Myanmar head, AGD Bank’s Managing Director Htoo Htet Tay Za […]

Internet ventures blooming in Myanmar

Internet startups offering such services as car-hailing and payments are attracting many consumers in this booming economy, and the sector is expected to evolve further with a smartphone boom and improving infrastructure. In the largest Myanmar city of Yangon, where traffic volume is shooting up, taxis carrying the logo of “Oway Ride” are a growing […]

Myanmar’s burgeoning financial sector attracts foreign suppliers

Foreign companies are rushing in to beef up Myanmar’s financial infrastructure, vying to win orders for ATMs and financial software from commercial banks that are rapidly growing under a civilian government. This month, Diebold Nixdorf, the world’s top ATM supplier, will open its first sales office in Myanmar. It is to be staffed with its […]

ADB Trade Finance Program Marks Milestone with First Transaction in Myanmar

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) has issued its first guarantee for Myanmar, supporting the import of fertilizers from Italy. The guarantee was issued in favor of Banca Popolare di Sondrio in Italy in respect of the payment obligation of United Amara Bank (UAB), one of TFP’s local partner banks in Myanmar. […]

Banks in Myanmar will adopt UnionPay Chip Card standard

The Myanmar Payment Union (MPU) and UnionPay International (UPI) have collaborated to implement a common UnionPay chip card standard in the country. The UnionPay chip card standard complies with the global EMV chip card standard, and will be adopted by all banks operating in Myanmar. The UnionPay chip card standard emerged as the standard of […]