Almost 25,000 to be freed under Myanmar prisoner amnesty

YANGON, Myanmar (AP) — Myanmar announced Friday that it was releasing almost 25,000 prisoners under a presidential amnesty marking this week’s traditional New Year celebration. The release for the Thingyan holiday was announced in a statement from President Win Myint’s office. Mass amnesties on the holiday are not unusual, though the number this year was […]

Chinese automakers move into Myanmar to battle Japanese rivals

Reuters YANGON — Chinese automakers are ramping up local production in Myanmar as they go head to head with dominant and entrenched Japanese rivals in the fast-growing market. There was a fivefold increase in the number of new cars sold in Myanmar in the three years to 2019, when sales hit 21,916, according to data […]

Myanmar’s Military Donates Wages to COVID-19 Fight

Naypyitaw — Myanmar’s commander-in-chief Senior General Min Aung Hlaing and his armed forces say they have collectively donated over 2.245 billion kyats (US$1.6 million) to be used in the prevention, control and treatment of COVID-19. The amount included a month’s salary of Senior General Min Aung Hlaing and other senior officers and a day’s wages […]

US development fund providing micro lending to small farmers

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has committed $8 million to Proximity Finance to support expanded micro lending to rural borrowers, primarily smallholder farmers, in Myanmar. OPIC Chief of Staff Eric Jones and Proximity Designs CEO Jim Taylor, and Proximity Finance Head of Finance Sein Nwe Oo signed the […]