Business News

Mineral Development Bank to provide loans to gems, mineral SMEs

BUSINESS Nov 16, 2018
Myanmar yesterday opened the first Mineral Development Bank (MDB) to provide banking services to small and medium size enterprises (SMEs) in the gems and mineral sector. “The MDB was established ... 53

Gems, jade stones put up for auction in Nay Pyi Taw

BUSINESS Nov 13, 2018
RAW gems and utility jade are being put up for auction in the local currency at the Mani Yadana Jade Hall in Nay Pyi Taw from 12 to 17 November. On Monday morning, raw gems and jade were display... 95

Jade traders call for WeChat ban

BUSINESS Nov 13, 2018
Jade traders in Mandalay say the use of WeChat by Chinese brokers is hurting business and want the use of the social media app to be banned. JADE TRADERS in Mandalay have launched a campaign to ban... 86

Ministry of Commerce Eyeing Mango Exports to the EU

BUSINESS Nov 13, 2018
European market, which receives 40 percent of the world’s mango exports, are interested to importing mangos from Myanmar. Therefore, the Ministry of Commerce and local traders are working to export ... 74

Businesses positive over growth prospects

BUSINESS Nov 11, 2018
Mandalay is poised to become the second-largest hub for growth after Yangon, the city’s chief minister Dr Zaw Myint Maung said at the Mandalay Business Forum held over the weekend. Dr Zaw Myint M... 122

Rise in dollar rate, but drug prices remain low: MPMEEA chair

BUSINESS Nov 09, 2018
THE rise in the US dollar exchange rate against Myanmar’s currency has hiked up the price of imported medicines, yet drugs are being sold at rates lower than the prevailing price levels, said U... 110

FATF to review Myanmar over money laundering concerns

BUSINESS Nov 06, 2018
YANGON — An assessment of Myanmar’s efforts to tackle money laundering and terrorist financing has found significant weaknesses, including a failure to recognise the “serious” money laundering... 128

Shwe Bite set to delight office workers with home-cooked food

BUSINESS Nov 06, 2018
Thousands of office workers in Myanmar’s commercial hub will no longer need to bother about finding delicious food for their lunch thanks to Shwe Bite, a technology platform that aims to offer healt... 121

Yangon hustle: the shadowy trade in gold and dollars

BUSINESS Nov 05, 2018
Panic over a falling currency and surging gold prices has put the spotlight on a network of brokers and speculators profiting from – and possibly fuelling – volatility. “THE GOVERNMENT will t... 165

Masked man robs an online store in Yangon

BUSINESS Nov 03, 2018
A masked man robbed an “online” store, one that mainly operates online, on Parami Road in South Oakkalapa Township, Yangon on November 1, sources said. The man entered the store around 11:45 am... 132