CB Bank successfully adapting to meet the needs of a new generation

Economic liberalisation came relatively late to Myanmar, but the country has been working hard to make up for its slow start. Following a military coup in 1962, the country was governed by an oppressive dictatorship and subsequently experienced the ignominy of being rated one of the least developed and most corrupt nations in the world. […]

Myanmar parliament elects Win Myint as new president

YANGON — Myanmar’s parliament on Wednesday elected Win Myint, the former speaker of the lower house, as the country’s new president, a move that may signal a more substantive role for the head of state compared with his figurehead predecessor. The parliamentary appointment of Win Myint followed the resignation of President Htin Kyaw last week. […]

Myanmar President Calls for Reform of Nation’s Military-Drafted Constitution

YANGON (Reuters) – Myanmar’s civilian president called in an Independence Day speech on Thursday for reform of a military-drafted constitution and for justice for all recognized minorities under a federal system, but made no mention of the treatment of its Rohingya Muslim people. Amending the charter to remove a dominant political role for the military […]

Rakhine’s Municipal Minister Under Fire

The Rakhine Parliament has decided that Rakhine State’s minister of municipality Min Aung should cease and desist from his administrative duties. On January 2, MPs voted 37 for and 8 against on the decision to bring the accusation against the minister forward to higher echelons of the central government, namely President Htin Kyaw. Min Aung, […]

Myanmar to Delay Law That Would Have Allowed More Foreign Investment

YANGON (Reuters) – Myanmar will delay a long-awaited reform that would open the door further to foreign investment, two officials told Reuters, a move likely to disappoint cash-starved businesses amid growing doubts over the management of the economy by the country’s leader, Aung San Suu Kyi. The postponement of the corporate reform, which would have […]

Phu Trong Visit to Boost VN’s Economic Ties with Myanmar

ECONOMIC activities between Myanmar and Vietnam are likely to be more active thanks to the upcoming visit by Phu Trong, general secretary of the Communist Party of Vietnam (CPV), says Chu Cong Phung, former Vietnamese ambassador to Myanmar. Phu Trong will visit Myanmar from tomorrow to August 26 upon the invitation of President Htin Kyaw […]

Suu Kyi Government Brings Back Myanmar’s ‘Mr. SEZ’

YANGON — Myanmar’s government has brought a key architect of the previous administration’s economic policy back into the fold, aiming to bolster confidence in the business community. President Htin Kyaw’s office on Monday announced the appointment of Set Aung, until recently the deputy governor of the central bank, as deputy minister for national planning and […]

Myanmar Labor Minister Commits to Working Toward Elimination of Child Labor

Half of Myanmar’s child laborers work in dangerous conditions for low minimum wages as the Southeast Asian country strives to eliminate the ubiquitous practice of employing young people, the country’s labor minister said Monday. “Half of Myanmar’s child laborers are working in dangerous conditions, but we can’t ask them to stop immediately,” Thein Swe, the […]

Yangon Blackouts Announced

​​ Yangon will be on power rotation plan until April 2 as supplies from the Yadanar natural gas pipeline will be temporarily stopped, according to Yangon Electricity Supply Board. It said Yangon residents may face temporary blackouts as natural gas turbines would not have a supply. Yangon Region uses about 45 per cent of total […]

One Year on, First Poll Test Looms for Myanmar Government

YANGON — On April 1, Aung San Suu Kyi’s National League for Democracy faces its first electoral test since taking power in Myanmar on the back of a landslide election win in 2015. The governing party will compete for a total of 2 million votes in all bar one of 19 by-election contests — seven […]