Myanmar Post is among the state-owned enterprises (SOEs) that have been suffering losses over the last several years. The postal service first began with the setting up of the Sittwe Postal Office in 1827. Due to the advent of modern digital communications, the SOE’s revenue has declined drastically. People who used to rely on physical […]
February 27, 2019 by
Five business sectors that are looking interesting in 2019
January 14, 2019 by
Businesses did not have a positive outlook on the Myanmar business sector last year with falling confidence and firms pulling out of Myanmar. However, with the arrival of a new year, things seem to be looking more optimistic for some sectors. Our reporters have interviewed insiders and experts from five business sectors on their views […]
Army Shutters Myawaddy Checkpoint in Clampdown on Auto Smuggling
April 3, 2018 by
Two Border Guard Force (BGF) soldiers refused The Irrawaddy permission to approach a border crossing between Myawaddy and Mae Sot, Thailand on foot on Monday, saying the area was closed. The closure reportedly followed efforts by the army to clamp down on vehicle smuggling across the Thai border. According to Kyaw Than, an automobile trader […]
KBZ to provide 24-hour service for trade-related payments via MPU
June 2, 2017 by
Kanbawza Bank has prepared to offer its around-the-clock service for trade-related payments through Myanmar Payment Union-MPU system, said U Aung Kyaw Myo, Deputy CEO of the KBZ Bank. The announcement for the payment system change came at the workshop on trade transaction payments with Myanmar Payment Union (MPU) system and expanding the fully online licensing […]
Singapore Firm Acquires Stake in Myanmar Payment Company
November 3, 2015 by
Singapore-based payments firm fastacash has made a strategic investment in Myanmar-focused payments company, MyPAY. MyPAY, which is developing a mobile payment system, also has a strategic partnership with local social network MySQUAR, which claims to have 1.5 million user accounts. However, a fastach spokesperson told Myanmar Business Today that the firm “won’t be able to […]
Myanmar’s first electronic bill payment solution launched
June 11, 2015 by
2C2P a leading Southeast Asian (SEA) payment services provider, and Myanmar Payment Union (MPU), the national payment network of the Republic of the Union of Myanmar, have launched Myanmar’s first electronic bill payment solution, easyBills according to a media release on 9 June. 2C2P and MPU are providing a non-cash payment option for prepaid phone […]
MPU, JCB Ink Licence Agreement for EMV Debit Cards in Myanmar
March 20, 2015 by
Myanmar Payment Union (MPU) and JCB International Co, a subsidiary of Japanese credit card company JCB Co Ltd, have signed a licensing deal to issue JCB cards in Myanmar, the firms said. With this agreement, MPU member banks in Myanmar will be able to issue MPU/JCB co-branded cards linking to their customers’ saving bank accounts. […]
Yangon Tax Department Announces Restaurant Crackdown
December 23, 2014 by
YANGON — Yangon Division’s Internal Revenue Department has urged restaurateurs to use official stamps on diner receipts to indicate payment of commercial tax, warning of hefty fines for noncompliant business owners. The pre-purchase system began in Yangon last month, requiring business owners to affix stamps bought from the department to customer receipts in order to […]
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