Business

MCRB launches report to encourage equality in Myanmar companies

AS DRAFTING an anti-discrimination law is underway, the Myanmar Centre for Responsible Business, a Yangon-based initiative funded by six European countries, on Thursday released a paper to help companies combat discrimination in hiring and in the workplace.

MCRB director Vicky Bowman said the paper describes discrimination in policy, law and practice against several groups in Myanmar including women; lesbian, gay, bisexual and transgender (LGBT) people; people living with HIV; people with disabilities; ethnic minorities; and religious minorities.

Eden Group to invest $210m in Hilton hotels, expand other businesses

Eden Group Co, one of the largest conglomerates in Myanmar, has planned to invest more than US$210 million (Bt6.9 billion) to build five hotels under the Hilton brand across the nation, in addition to expansion in all of its current lines of business.

Chit Khine, managing director of Eden Group and chairman of Myanma Apex Bank, said in an exclusive interview the firm had invested over US$100 million in three Hilton hotels in Nay Pyi Taw, Ngapali, and Mandalay.

US$6bn in foreign investment expected this fiscal year

 

Foreign investment in Myanmar is expected to reach US$6 billion this fiscal year (2017-18), and investment has already reached $3.5 billion, said Dr Wah Wah Maung, director-general of the Ministry of Planning and Finance, during Myanmar Global Investment Forum held at the Myanmar International Convention Centre-2 in Nay Pyi Taw on Tuesday.  

Temporary ban on bean imports imposed from Sept 15

In an attempt to stabilize local bean market, the Ministry of Commerce will place a temporary ban on imports of beans and pulses starting from September 15.

The decision came after the meeting of the management committee under the commerce ministry on August 31.

The excess supply of some beans and pulses in the local market are found due to policy changes, production, demand and supply.

Japan helps draft master plan for development of Tanintharyi region

The Tanintharyi Region government has drafted a master development plan with the help of Japan, said Tanintharyi Region Chief Minister Dr Le Le Maw on September 8.

The master plan will prioritize the marine, education and mining sectors.

Bean restrictions to hit overall exports

Restrictions on

FDA steps up crackdown on fake drugs

The Food and Drug Administration

Rice exports to break record

Myanmar has exported over 1 million tonnes of rice during five months this year and expects to export up to 2 million tonnes during the whole year, according to the Myanmar Rice Federation (MRF).“We are expecting to export about 2 million tonnes of rice in this year. It will break the record in a decade,” said MRF vice chairman Dr Soe Tun.

Bangladesh signed a governmental agreement on September 7 to buy 300,000 tonnes of rice.

Bangladesh signs rice export deal

Myanmar and Bangladesh have

Yoma, Proximity join hands to boost farm loans

YOMA Bank, Myanmar's fourth-largest bank by assets with more than 3,000 employees and 72 branches across the nation, has signed a funding agreement with Proximity Designs for 7.3 billion kyats (Bt178.5 million), said a bank executive.