NOTHING has been made in the engine factory in Thagaya, in the south of Myanmar, since April last year. Yet around 350 employees still turn up each day. In 2016 government-owned factories like this one made a loss of more than $200m. When Myanmar moved from military dictatorship to a form of democracy, its new […]
Myanmar Says U.S. Sanctions Against General Based on ‘Unreliable Accusations’
January 1, 2018 by
(Reuters) – Myanmar “feels sad” over a U.S. decision to sanction a military general, a government spokesman said, after Washington linked the commander last week to abuses against the Rohingya Muslim minority. “This targeted sanction is based on unreliable accusations without evidence, as we have repeatedly said, so we feel sad for that,” Zaw Htay, […]
Lotte Hotel Yangon to be open on commissioned operation by Lotte resorts affiliate
September 4, 2017 by
Lotte Hotel Yangon, to be operated on commission by Lotte Hotel & Resorts, will open later this week as the company’s eighth overseas chain, officials said Sunday. South Korean retail giant Lotte will manage the new hotel for 20 years in contract with Daewoo Amara, in what will be the first five-star accommodation facility it […]
KBZ Strengthens Remittance Services with US Banks
March 4, 2017 by
After kicking off the US-Myanmar direct money transfer service, Kanbawza Bank (KBZ) has tried to establish a direct channel with US banks, KBZ managing director U Win Lwin told the media. Right now, KBZ has opened a USD settlement account in New York’s branch of Sumitomo Mitsui Banking Corporation (SMBC). Hence, direct money transfer […]
KBZ Bank opens settlement account in US
March 1, 2017 by
Kanbawza Bank (KBZ Bank) Limited, part of the KBZ Group of companies, announced yesterday that it has opened a USD settlement account with international bank Sumitomo Mitsui Banking Corporation’s New York branch (SMBC New York), to offer streamlined remittance services that enable faster, more convenient trade financing and transactions between Myanmar and the United States, […]
Diebold Nixdorf Targets Retail Market
February 11, 2017 by
New York and Frankfurt-listed Diebold Nixdorf, an international financial services and technology company, opened its first Myanmar office in Yangon on February 3 to establish its direct presence in the country. The company is hoping to launch its financial retail services in Myanmar. “Diebold Nixdorf will expand payment services for shopping malls and retail […]
Australian visionary gives Myanmar tech room to grow
January 9, 2017 by
YANGON On a balmy December evening in downtown Yangon, a diverse crowd packs into the sprawling offices of Phandeeyar, an information and communications technology hub. The event marks a milestone in Myanmar’s “connectivity revolution” — the group’s second birthday, and a new phase in its training and investment programs for startups. The space is normally […]
A Myanmar Success Story
December 8, 2016 by
MYANMAR’S re-engagement with the world inspired investment banker Aye Thiha to leave New York and return home in 2011. His own business has flourished since and he still sees new opportunities flowing in. “My family coerced me to return and after eight years. I thought I was done with being an investment banker,” said […]
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