Five awarded Eisenhower Fellowship with the assistance of Max Myanmar Zaw Zaw

Zaw Zaw (right) of the Max Myanmar Company speaks to Colin Powell, former US secretary of state. Five citizens have got Eisenhower Fellowship sponsored by the United States for the first time with the assistance of Zaw Zaw, chairman of Max Myanmar Group of Companies. The Eisenhower Fellowship 2017 Programme will start on October 1 […]

ASEAN Summit: Assertive China flexes its muscles as Trump gives conflicting signals

Bangkok (ANN News Desk) – Obama’s pivot to Asia is dead. Despite the Trump administration’s confrontation with North Korea dominating headlines for the past several weeks, in the back channels of a major regional summit, diplomats all whispered the same thing, the pivot was over. If anything, Trump’s obsession with North Korea and the administration […]

Myanmar’s First Private Bank to modernise banking operations with Misys

First Private Bank (FPB) has chosen Misys FusionBanking to streamline operations and digitalise as it takes a significant role in contributing to Myanmar’s growing economy. The bank, which received the first banking licence in Myanmar in 1992, aims to facilitate access to financial services for all and will transform its retail, corporate and digital offering […]

Myanmar’s New Struggle: Keeping Foreign Investors Happy

A pariah state for decades, Myanmar’s recent emergence from economic isolation has attracted foreign companies and investors intrigued by the Southeast Asian nation’s untapped potential, abundant natural resources and low wage workforce. The first U.S. fast food restaurant, KFC, opened in 2015 and other assorted Western and Asian brands have popped up across the nation’s […]

Thai finance firm Group Lease to buy Myanmar microfinance business

Thai motorcycle lessor Group Lease PCL plans to buy 71.9 percent of BG Microfinance Myanmar from Sri Lanka’s Commercial Credit and Finance PLC for an unspecified amount, to take advantage of rising microfinance demand in Southeast Asia. Through the deal, Group Lease will expand its regional presence, adding Myanmar to Thailand, Cambodia, Laos and Indonesia, […]

Myanmar aims to attract $140 billion in FDI until 2030

Myanmar has set its sights on attracting US$140 billion (Bt4.9 trillion) in foreign direct investment (FDI) from now until 2030, according to a national economic development plan. From 1988 until March 30, which marked the end of the 2015-16 fiscal year, Myanmar had granted permits for foreign investments worth $63.7 billion. The national development plan, […]

Central Bank manoeuvres rise in kyat value

The value of the Myanmar kyat has risen due to the efforts of the Central Bank of Myanmar, according to Xinhua News Agency. The kyat value rose gradually starting from the beginning of this year following a year of declining value compared to the US dollar, according to local money changers. On 2 April, US$1 […]

Max Myanmar’s Zaw Zaw: ‘I am ready to play any Part’

Zaw Zaw is the chairman of Max Myanmar Group of Companies, one of Burma’s biggest conglomerates, with interests in the country’s construction, hotel, real estate and agricultural sectors. He also intends to expand his banking business under the new National League for Democracy (NLD) government, but remains on a US blacklist, preventing American companies from […]

Military-Linked UMEHL Transitions Into Public Company

Yangon — The Union of Myanmar Economic Holdings Limited (UMEHL) announced on Thursday that, after being linked to the military for more than two decades, the conglomerate has transitioned into a public company. According to state-run media, shares for UMEHL, which was founded in 1990 with two shareholder groups, will be consolidated into one group. […]

Myanmar army MPs slam bill granting Suu Kyi special advisory role

Myanmar military MPs on Friday said a plan to bolster Aung San Suu Kyi’s power with a special advisory role was unconstitutional, as the new civilian government tussled with the army just days after taking office. The Southeast Asian nation was dominated by the military for more than half a century until Wednesday when Suu […]