Despite a drop in earnings in FY2019, Yangon Stock Exchange-listed First Myanmar Investment Public Company Ltd (FMI), said it continues to see potential for long term growth in finance, healthcare, real estate and tourism, the main sectors in which its businesses are involved. While earnings dropped by almost 42 percent to K14.4 billion for the […]
Read MoreMyanmar’s economy has picked up in the 2018-19 fiscal year, supported by an improvement in business sentiment amid renewed reform momentum, strong growth in garment manufacturing, expansion of tourism-related services and stronger fiscal spending, according to the preliminary assessment by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to the country from […]
Read MoreElectronic cash transactions are seeing more adoption in Myanmar as people opt for the convenience of not having to withdraw money from banks or automated teller machines. As such, banking officials and financial technology firms believe that Myanmar would see significant developments of such payment systems over the next two years. Recently, Visa country manager […]
Read MoreOnly 3pc of small and medium enterprises (SMEs) registered with the Ministry of Industry have been given funding by financial institutions. The Ministry of Industry data showed that of 73,085 SMEs registered with it, only 2,207 businesses or 3pc of the total have received funding from financial institutions. The Minister of Industry U KhingMaung Cho […]
Read MoreMyanmar people are receptive in adopting contactless payment methods, a study conducted by digital payments firm Visa reveals. Visa this week has published findings from its Consumer Payment Attitudes Study, which examines the perceptions, attitudes and behaviours Myanmar people have towards payment and emerging payment methods. It was based on face-to-face interviews of 504 people […]
Read MoreElectricity rates will increase substantially beginning in July for both residential and business users in the first changes in tariffs in five years, the Ministry of Electricity and Energy (MOEE) announced yesterday. The proposal by the MOEE to raise prices was approved by parliament in April. Under the new rates, residential households and religious buildings […]
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