The Central Bank of Myanmar (CBM) has announced extending grant to allowing foreign bank branches to provide any banking services to local enterprises, according to the CBM’s notification issued on previous week.

The move aims to help local corporate gain further access to finance, the bank’s notification said.

The CBM have allowed foreign bank branches to provide export financing and related banking services to local firms in December last year. The bank also granted licence to foreign banks for providing wholesale banking services to local enterprises in partnership with foreign enterprises, local and foreign financial institutions.

Source: Daily Eleven

Over 25,600 companies have registered by using the MyCO Myanmar Companies Online registration system, according to Director U Myo Min of the Directorate of Investment and Company Administration (DICA).

The MyCO registration system was launched on August. Within three months until October, the number of new company registration with MyCo reached more than 5,600  and the number of old companies reached over 20,000.

The Directorate of Investment and Company Administration (DICA) have announced  that the existing registered companies have to re-register  by using MyCO registry on January 2019 and if an existing company does not register electronically before the deadline,  its registration will be canceled.

Source: The Global New Light of Myanmar

Milan-based NEOS Airline officially launched its Yangon-Milan direct charter flight with a chartered Boeing 767-300 ERW on Mondays and Boeing 787-9 Dreamliner every Wednesday.
The Boeing flight arrived at the Yangon International Airport after departing from Phu Quoc, Viet Nam, as part of its Viet Nam-Yangon-Milan route.

A welcoming ceremony was held for the flight, in which Union Ministers U Thant Sin Maung and U Ohn Maung and officials welcomed 35 passengers at the airport.

According to statistics from the Ministry of Hotels and Tourism, the number of travellers from Italy to Myanmar for the period of up to September last year reached 11,976, though the number declined by 14.6 per cent to 10,221 visitors.

Source: The Mirror

Chinese low-cost airline 9 Air launched direct flights between Yangon and Guangzhou in southern China, less than a month after the carrier launched its first international flight, to Mandalay.

The airline has regional expansion plans: by 2025 it aims to operate 80 aircraft with services to destinations including Kalibo in the Philippines, Bangkok in Thailand, Da Nang in Vietnam and “popular cities in Japan” according to a statement by Yangon Aerodrome Company, the operator of Yangon International Airport.

The statement said flights from Guangzhou to Yangon would run four times each week, with low-fare options starting at less than US$100. There were 452 flights last year between Guangzhou and Yangon, which transported some 40,000 people, according to Ministry of Hotels and Tourism data, with an average seat occupancy rate of 63 percent.

Source: The Mirror

Wave Money and Ananda are working in strategic partnership for new digital payment system that will enable easy and safe mobile payment for 4G+ internet in Myanmar. This partnership will help Ananda users for choosing the preferable data plan and could easily top up at Wave Money shops across the country or via the Wave Money app.

From 10^th October 2018, Ananda users can renew their data plans or add on services to their existing subscription using Wave Money, and steps for using the services are posted at the Ananda’s official website www.ananda.com.mm. Currently, there are more than 4 million people who use Wave Money services and 34,000 agents across Myanmar.

Source: Daily Eleven

The Ministry of Home Affairs (MoHA) is planning to invite tenders to implement the planned upgrade of passports to biometric passports under a BOT (build-operate-transfer) basis.

The ministry is currently conducting discussions with relevant parties about ways to introduce biometric passports, also dubbed e-passports, in line with international standards.

Domestic Technological Companies need to apply invited tenders with company’s registration number, co-operated foreign company’s registration number and company profile in all attached.

Source: Myanmar Business Today

Ruckus Networks, an ARRIS company, announced its partnership with Myanmar Net to become the first in Myanmar to deploy a wireless network for the general populace. Myanmar Net, the largest internet service provider (ISP) in the country, aims to deliver effective and affordable connectivity to the masses. As a result, over 400,000 subscribers across all major townships in Yangon and Mandalay can now enjoy affordable internet services.

Myanmar Net looked to accomplish this goal using carrier-grade Wi-Fi technologies, choosing to work with Ruckus Wireless due to the consistent performance and reliability of its solutions.

With a robust connectivity infrastructure in place, Myanmar Net is now able to free up more time and resources to focus on developing more value-added services as well as improve the reliability and uptime of their hybrid metro distribution network to bring affordable products and maximized benefits to their subscribers.

Source: 7 Day News

City Mar Holding Company Ltd launched City Rewards mobile payment application which can be used at more than 200 shops and stores including City Mart, Ocean, and Seasons. City Rewards application can not only make payments but also can perform money transfer between users up to 100,000 Ks for free service fee.

According to CEO Daw Win Win Tint, this application is currently available in only retail stores which are under City Mart Holding Group, but in the future it could be used at others retail stores owned by different companies and make payments for meter bills, phone bills, and bus fares.

City Mart is currently applying license at Central Bank for connecting with other banks in the future. Users can put 1,000 Ks to 1,000,000 Ks in the City Rewards application and make payments at over 200 retail stores.

Source: 7Day News

Ooredoo’s Mobile Money Service M-Pitesan, which was launched in September 2017, has reached 400,000 users and more than 10,000 M-Pitesan agents all over the country. M-Pitesan is the 24hr mobile money service which can not only transfer money to all M-Pitesan account users but also to all mobile phone numbers in Myanmar.

All mobile customers can benefit from M-Pitesan service, and users must have an Ooredoo SIM to register for the service and create a mobile wallet. However, any mobile customer may transfer money to any other mobile customer by visiting any of the Ooredoo M-Pitesan agents in the neighbourhood.

M-Pitesan first introduced the service in Yangon, Nay Pyi Taw, Mandalay, Pago, and Taunggyi with 2400 agents, and reached up to 400,000 users and more than 10,000 agents in one year.

Source: Myanmar Alinn

Myanmar Information Highway Company (MIH), joined together by Thailand based Benchachinda Holding Group and Myanmar based A&F Communication, will launch broadband internet service in Yangon with 10 million US dollar investment, according to officials.

Myanmar Information Highway (MIH) planned to provide business broadband services in 21 townships in Yangon and users can get up to 100 Mbps internet speed in significant places. Users may choose 30 Mbps to 1 Gbps package plans, and MIH ensure users may have full guarantee services, according to Mr. Passakorn Hongsyok, General Manager of MIH.

Source: Daily Eleven