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Rumour claims four domestic airlines stop their services

Rumours surfaced that four domestic airlines including Air Bagan and Apex Airlines had stopped their services. The alleged four are Air Bagan, Apex Airlines, Asian Wings Airways and FMI Air. Deputy Director General Ye Htut Aung from Department of Civil Aviation said on July 16, “It is true that Air Bagan and Apex Air have […]

Businesses urge overhaul of banks’ loan policy

Banking experts and senior officers from the International Council of Small Business (ICSB) said Myanmar must change its loan policy to make it easier for businesses to access debt for growth. In Myanmar, loans issued to businesses are approved based on collateral and are mostly extended over a short term. Compared to other countries, the […]

Three gas turbine power plants expect to generate sufficient electricity supply next year

Three new natural gas-fired power plants with the capacity to generate more than 450 megawatts of power are expected to go live before the coming summer season. That should satisfy the energy demands of the country for 2018, said U Khin Maung Lay, deputy managing director of the Ministry of Electricity and Energy’s (MOEE) Electric […]

Credit Bureau Delayed by ‘Second Thoughts’ About Foreign Stake

YANGON — Although financiers in Myanmar have been trying since 2012 to form the country’s first credit bureau, concerns about how much foreign involvement in the process should be allowed have delayed their efforts, bankers said this week. The Central Bank of Myanmar aims to form the credit bureau to allow lenders to check the […]