YANGON (CNA) – Investors flocked to Myanmar after the military relaxed its iron grip in 2011, paving the way for democratic reforms and economic liberalisation in the country of over 50 million people. But human rights groups have pressed foreign companies to rethink their activities in Myanmar following the February 2021 coup and a subsequent […]
Read MoreMyanmar’s economy and people continue to be severely tested by the ongoing impacts of the military coup and the surge in COVID-19 cases in 2021, according to the World Bank. Following an expected 18 percent contraction of the economy in the year ended September 2021, the World Bank’s Myanmar Economic Monitor, released on January 26, […]
Read MoreThe World Bank is maintaining a bleak outlook for Myanmar in the wake of last year’s military coup and the ongoing pandemic, according to its latest Myanmar Economic Monitor, released on Wednesday. The international lender estimates that Myanmar’s economy shrank 18% in the fiscal year through last September, and projects just 1% growth in the […]
Read MoreThe exit of the energy giants TotalEnergies and Chevron from Myanmar’s billion-dollar gas industry has been hailed by rights groups, but analysts say it will not significantly weaken the generals and may even enrich the military in the short term. Both firms had faced pressure to cut financial links with the junta that toppled Aung […]
Read More[KANCHANABURI, Thailand] Trekking through dense jungle and mountainous terrain at night to avoid arrest, one couple from Myanmar endured a gruelling journey to Thailand – grasping for an economic lifeline as jobs dry up in their coup-hit home. Myo Chit and his wife are among thousands of migrants who have made the crossing in recent […]
Read MoreThe NUG’s Ministry of Planning, Finance, and Investment has announced that USDT or USD Tether will be Myanmar’s official currency, instead of the Myanmar Kyat, ambcrypto.com reported. Tether is a cryptocurrency that is hosted on the Ethereum blockchain with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether […]
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