Banks close, gold traders urge calm

Banks and gold traders alike have urged calm amid rumors and uncertainty. Internet outages forced several banks to suspend operations over the weekend, and this week KBZ closed all of its Yangon branches after many of its workers walked out to join o

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)
Garment workers

Union org to propose minimum wage hike

A year of strikes and labor tensions may result in a rise in the national minimum wage. The Confederation of Trade Unions of Myanmar (CTUM) has said that it will propose raising the minimum wage at this year’s meeting of the National Committe

Inflation reaches 8 percent

Myanmar’s inflation levels reached 8.53 percent in August, up from 6.94 percent at the beginning of the year, according to Myanmar’s Central Statistical Organisation. According to official figures, the average inflation rate for the previ
Central Bank removes trading band

Central Bank steps into currency issue

The Central Bank of Myanmar (CBM) has announced that it has removed a 0.8 percent trading band around a reference rate for the Myanmar kyat in moves that have been welcomed by the business community, according to an article in Frontier. The trading b