Mobile wallets boom as pandemic burns on

The second wave of COVID-19 shows no signs of slowing, and continues to deal blow after blow to the economy. This week, KBZ Bank announced that it would temporarily close 51 of its Yangon branches, leaving only 92 open as the city remains under tight

Economic minister vows to ‘build back better’

As the new COVID-19 wave slams the economy, Union minister for investment and foreign economic relations U Thaung Tun has vowed that the country will weather the storm and emerge even stronger than before. “In a different time, our isolated eco

New loans announced for agribusiness

The government will soon offer new soft loans for businesses in livestock and agriculture affected by COVID-19. The fund of MMK 100 billion will go towards assisting farms, import and exporters, manufacturing and other businesses related to the produ
Yangon bus operator goes digital with prepaid card service

Yangon bus operator goes digital with prepaid card service

Asia Starmar Transport Intelligent Co. Ltd. has officially launched its prepaid card service for its 597 buses in Yangon this week. The company said that more than 9,100 payment cards for use on Yangon Bus Service buses were sold in five days since J

Gold prices rise globally, fall in Myanmar

Although the value of gold is rising on global markets, prices are falling in Myanmar. While gold is selling for around USD 1800 per ounce in the global market, Myanmar’s gold traders are currently selling for around USD 900 (MMK 1.22 million)

IMF gives additional USD 356.5 million

The International Monetary Fund (IMF) has approved USD 356.5 in financing to aid Myanmar’s fight against COVID-19 and efforts to protect its economy. IMF has granted the financing in two forms: a disbursement of about USD 118.8 million under it