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Myanmar announces abolition of dollar surrogate

YANGON: Myanmar announced the abolition of its US dollar proxy currency, in the latest step towards economic normalisation as the impoverished former pariah opens to the world.


Felda Global Ventures seeking land in Myanmar, Cambodia

KUALA LUMPUR: Felda Global Ventures Bhd is looking to buy land in Myanmar, Cambodia and Indonesia.


Myanmar to open door to foreign banks next year

YANGON: Myanmar will allow some foreign banks to begin offering limited financial services next year, according to a senior central bank official, as the South-East Asian country slowly opens up its banking sector following a series of economic and political reforms.


US gives banking green light to Myanmar tycoons

YANGON: Two banks owned by tycoons associated with Myanmar's former military regime will start to do business with U.S. companies and investors in the latest reward for the Southeast Asian country's rapid political transformation.

Corporate News

AirAsia banking on Myanmar's high-flying economy

AirAsia, one of the world's leading low-cost airlines, has shown confidence in the economic growth of Myanmar and the country's tourism sector by bolstering its operations there.


World Bank earmarks US$245mil for Myanmar

WASHINGTON: The World Bank on Thursday earmarked US$245 million in credit and grant funding for Myanmar under an 18-month work plan, the first lending to the southeast Asian nation in 25 years and another sign the country is opening up after years of military rule.


World Bank says reengaging with Myanmar after 25 years

WASHINGTON (Reuters) - The World Bank said on Thursday it was in the process of returning to Myanmar after 25 years, but the isolated Southeast Asian nation will first have to clear its arrears to global financial institutions before the bank resumes lending.


Nazir: Myanmar is an integral part of Asean

YANGON: With Myanmar now widely regarded as a hot investment destination after the government announced economic and political reforms, thus attracting more and more visits from the West and Asia’s leading economies, Asean businessmen have gently reminded Myanmar to leave the door open for collaboration with businesses from other countries in the grouping.


Felda keen on Myanmar

KUALA LUMPUR: Felda Global Ventures Holdings (FGVH) is keen to explore opportunities in Myanmar to develop plantations and related downstream businesses.


Foreign money flows into Myanmar

Foreign companies are making a full-fledged inroads into Myanmar, spurred by rising wages in Thailand and other neighbours and the establishment of industrial parks there. This year is expected to br .....