Lotte Hotel Yangon to be open on commissioned operation by Lotte resorts affiliate

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

​​ 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

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, […]

This Is the World’s Tiniest Stock Exchange

Not many people, inside or outside the country formerly known as Burma. Now a year old, the Yangon Stock Exchange is home to just four companies. None of them has raised new capital, and trading is dominated by small investors, many of whom buy stock for less than 20,000 kyat, or $15. On a recent […]

Diebold Nixdorf Targets Retail Market

​​ 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 […]

Wyndham Hotel Group Launches First Project in Myanmar

​​ One of the world’s largest hotel chains, the Wynd­ham Hotel Group, has launched its first project in Myanmar, a Tryp-branded hotel in Yangon’s Mayangon Township. The Yangon hotel is the first Tryp in Southeast Asia and the second in the Asia-Pacific region after Brisbane, Australia. Other cities with Tryp hotels include New York, Paris, […]

Australian visionary gives Myanmar tech room to grow

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

​​ 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 […]

Amid Peace and Prosperity, Myanmar Farmers Fall Prey to Land Seizures

BANGKOK (Thomson Reuters Foundation) – Land conflicts in Myanmar have escalated in recent years, with military and armed groups driving people from their land, and new laws failing to protect farmers, a rights watchdog said on Thursday. Land disputes are a longstanding problem in Myanmar, but researchers from New York-based Human Rights Watch (HRW) documented […]

A Land Eager to Look Rich: Luxury Brands Edge Into Myanmar

YANGON, Myanmar — “Every man has a crazy hobby,” said U Thiri Thein Than, an automotive engineer from Yangon who also has a home in Tokyo. “For me, it’s cars and watches.” For years Mr. Thiri Thein Than, 40, has done his higher-end shopping overseas. But in March, he visited a boutique that the Swiss […]