China freezes bank accounts of Myanmar companies

Three banks in Yunnan Province, China froze the bank accounts of over 100 Myanmar companies engaged in border trade last week over possible links to illegal internet gambling and smuggling, prompting swift action from the Union Minister for Commerce to try and reopen the accounts, according to officials in China and Myanmar. The frozen accounts […]

Beans and pulses exports damaged but not stopped by floods

The flow of beans and pulses exports will continue even if volumes are reduced by recent devastating floods, according to U Min Ko Oo, secretary of the Myanmar Pulses, Beans and Sesame Seeds Merchants Association. The Myanmar Rice Federation has suspended rice exports until mid-September to assist local consumers and prevent a price spike, though […]

Ministry halts online exchange

A Forthcoming commodities exchange has been suspended following a letter from the Ministry of Commerce stating it is not allowed to operate. Myanmar firm MICEx had aimed to bring a commodities exchange online in the next few months, but is now left waiting while it discusses the situation with government authorities. While company officials admit […]