Business News

Central Bank Extends WeChat Pay for Three Months

BUSINESS Aug 13, 2019
China’s WeChat Pay was introduced to Myanmar earlier this year. Now, Central Bank of Myanmar has decided to extand the license period of the digital payment service for the next three months. In ... 86

UAB Bank to Verify Large Transactions in Order to Combat Fraud

BUSINESS Aug 13, 2019
Beginning on July 1, United Amara Bank (UAB) will use a telephone verification system for every transaction exceeding K1 million, if the transaction is initiated by a representative rather than the ac... 72

Local Banks Provide K21 Trillion in Loans in 6-Month Period

BUSINESS Jul 26, 2019
According to the Quarterly Financial Statistics Bulletin 2018, Volume 3, which was recently released by the Central Bank of Myanmar, between March and September 2018, local private banks provided arou... 222

Commercial Tax Generates K700 Million Per Week

BUSINESS Jul 26, 2019
The Internal Revenue Department said that revenue from commercial tax on mobile sales has surged to roughly K700 million per week, the surge is after they instructed local mobile stores to put commerc... 239

K119 Million Collected in Tax Fines

BUSINESS Jul 26, 2019
The Government of Myanmar has generated over 119 million between October 2018 and May 2019 from fining restaurants, hotels and motels for failing to put tax stamps on receipts, according to the Intern... 197

Yangon Stock Exchange Hits K1.3 Billion in June

BUSINESS Jul 23, 2019
The five listed companies trading on the Yangon Stock Exchange (YSX) hit K1.3 billion in June, the highest amount of trading was seen by First Myanmar Investment (FMI) and Myanmar Thilawa SEZ Holding ... 276

2020 Target for Opening Yangon’s New “International Standard” Myanmar Aquarium

BUSINESS Jul 13, 2019
The Mottama Development Group says that it will work to open the aquarium it has been building in 2020. It has been building the new facility on five acres of land in Kandawgyi Park, spending some $30... 350

Mottama Development Group Holds Exhibition for Five Projects

BUSINESS Jul 13, 2019
Mottama Development Group is one of the leading developers in Myanmar, they have opened an exhibition at Maha Land Center located on Gabaraye Road, Yangon, for its five projects. The exhibition wil... 310

Myanmar's new insurers face a tough sell

BUSINESS Jul 11, 2019
The insurance sector is about to undergo rapid growth thanks to a recent liberalisation, but competition will be fierce and attracting customers to new, unfamiliar products could prove hard. WHEN T... 283

Domestic fuel prices rise by three percent in ten days

BUSINESS Jul 04, 2019
Global oil prices reached US$59 per barrel (14 percent increased within three weeks) making domestic fuel prices to rise by around three percent within ten days, according to fuel stations. The gl... 348