ANA Invests in Myanmar Airline Venture Planning International Debut in 2018

​​ ANA Holdings Inc. has invested in a new airline venture in Myanmar that aims to start international flights in 2018 as the Japanese carrier seeks to capture demand in Asia’s fastest-growing economy. ANA has a 49 percent stake and a local company holds the remainder, Shinya Katanozaka, CEO of Japan’s largest airline, said in […]

ANA Plans to Start Flights From Myanmar

​​ TOKYO – ANA Holdings Inc has invested in a new airline venture in Myanmar that aims to start international flights in 2018 as the Japanese carrier seeks to capture demand in Asia’s fastest-growing economy. ANA has a 49% stake and a local company holds the remainder, Shinya Katanozaka, chief executive officer of Japan’s largest […]

Asia’s New Tiger Economy Fears Currency Slide

​​ Myanmar’s central bank is braced for a deeper slide in the nation’s currency and has little scope to tackle the decline after the kyat fell the most in Southeast Asia, according to one of the monetary authority’s top officials. The kyat has weakened about 10 percent against the dollar in the past six months, data […]

Golden Glory plans IPO to fund Myanmar projects

YANGON • Golden Glory Group, a developer of Myanmar real estate, is planning an initial public offering (IPO) in Singapore this year as the opening of the market spurs property demand in South-east Asia’s fastest-growing economy. The Singapore-based company is targeting an US$80 million to US$100 million (S$110 million to S$138 million) initial share sale, […]

MPU Card reaches 1.8 million users

THE number of MPU credit card users has reached 1.8 million people in Myanmar. The Myanmar Payment Union credit card can be used to make direct payments from a Myanmar bank account. “Electronic bill payment systems appear more often in the financial matters of local enterprises and can contribute to economic development,” said U Zaw […]

Myanmar admits more foreign banks ahead of NLD accession

BANGKOK — Myanmar has given preliminary operating licenses to four more foreign banks, following the government’s decision in late 2014 to grant licenses to an initial nine foreign banks. The move — just before a new administration led by Aung San Suu Kyi takes over on April 1 — highlights a rush by the incumbent […]

Rubber industry to be stamped with new law

A new law is being drafted to promote Myanmar’s rubber sector, as the commodity’s international value plummets and a number of plantations across the country are forced out of business. The law is being drawn up under Myanmar’s National Export Strategy, said U Khine Myint, secretary of the Myanmar Rubber Planting and Producing Association (MRPPA). […]

Government plans longer tenors for debt auctions

The Ministry of Finance is planning to extend competitive bidding auctions on government debt to a range of new maturities this year, which will mean getting comfortable with paying market price. The government switched from selling three-month Treasury bills at a set yield to one determined by competitive auction a year ago, and is still […]

In Myanmar and Thailand, two militaries moving in opposite directions

Kevin Rafferty says as the generals in Myanmar cede power in the historic handover to civilians, Thailand’s ruling junta should remember the dangers of prolonged military rule on a nation’s economy and social fabric. Who would ever have imagined it – singing karaoke, dancing and joking. This was not some theatre vaudeville event but the […]

Korea chases investment in Myanmar

The ASEAN-Korea Centre sent 20 Koreans to Myanmar last week to seek investment opportunities. The investment and market research mission of businessmen and officials from the Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corporation went to Yangon on Jan. 13-15. The project was designed with Myanmar’s Directorate of Investment and […]