Open tender for MPPE High Speed Diesel. Closing Date: 12 October 2017

Subscribe to our tender alert mailing list Invitation for open tender (4/2017) [Tender no. Mppe / hsd / t /1 (2017 – 2018)] 1. Open Tender is invited for the Myanma Petroleum Products Enterprise, Ministry of Electricity and Energy for the supply of High Speed Diesel (658,000 ± 10% Barrels) 2. Tender Closing Date & […]

Unregulated and untaxed: Casino on Thai border Thrives

When we arrive at the Border Guard Force checkpoint, security guards look us up and down, then ask if we are coming to the casino. It’s 8pm. We nod and are allowed in. The 24-hour 999 casino is located on the bank of Kayin State’s Thaung Yin river that separates Myanmar and Thailand, dividing Myawaddy […]

Construction and Real Estate Sectors Pin 2017 Hopes on New Legislation

​​ The construction sector will be glad to see the back of 2016 – a year in which a political transition, a high-rise review and a volatile currency conspired to leave many developers battered and bitter. But there were also signs of a fragile recovery in the real estate market, and new laws set to […]

Gems sales slump for second year running

Lack of interest from Chinese buyers and a shortage of quality wares again dogged the latest Gems Emporium at Nay Pyi Taw. Ministry of Mines estimates of sales in the high millions of euros appear to be hopeful at best. The 53rd emporium, which ran until yesterday, failed to attract substantial numbers of Chinese merchants, […]

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 […]

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 […]

OCBC receives final approval to open branch in Myanmar

OCBC Bank is one of the first three foreign banks to receive final approval to open a branch in Myanmar, and will offer corporate internet banking in the country. SINGAPORE: OCBC Bank is one of the first three foreign banks to have received final regulatory approval from the Central Bank of Myanmar to open a […]

Kyat steadily declines against other currencies

Myanmar kyat’s weakening against major foreign currencies has accelerated during President Thein Sein’s time in office. The currency rate has slided to K 1,070 and K 1,075 per one US compared to K 824 per one US dollar at the end of 2011 and early 2012. In November in 2012, the exchange rate was K […]

Central Bank Reduces US Dollar Sales to Private Lenders

YANGON — The Central Bank of Myanmar has sharply reduced its sales of US currency to private banks since late October, according to banking industry sources. Since the end of last month, the Central Bank has decreased its sales of US currency by around $3 million per day, in the face of a strengthening US […]