Economy

Stacks of Myanmar kyat sit on a counter at a bank in Yangon.
Myanmar Crisis

Myanmar interventions threaten to create 3 forex rates

Military government cracks down on black-market trades to stem weakening of kyat

27 June 2023
Staffers of the World Food Programme distribute food in cyclone-affected areas in Rakhine, Myanmar, in mid-May. (Photo coutesy of WFP)
Myanmar Crisis

Myanmar suspends U.N. access to cyclone-hit Rakhine region

Halt of aid seen bringing more suffering to people, including Rohingya

14 June 2023
A Ukrainian soldier drives a captured Russian T-72 tank in the village of Lukianivka, in northwestern Kyiv, Ukraine, in March 2022.
Ukraine war

Russia 'buying back' arms parts exported to Myanmar and India

Reimports appear aimed at improving weapons for use in Ukraine war

5 June 2023
A car washed away by floods caused by Typhoon Goni in the Philippines in 2020.
Climate Change

Children in Vietnam, Philippines face high climate risks: report

UNICEF urges countries to develop infrastructure to minimize impact

1 June 2023
A former member of the Myanmar parliament trains in an area controlled by ethnic Karen rebels.
Myanmar Crisis

Myanmar clashes stall completion of Southeast Asia economic corridor

Fighting along border with Thailand drives shipping costs to soar 50%

18 May 2023
Indonesian President Joko Widodo and delegates attend a sideline meeting during the ASEAN summit in Labuan Bajo, Indonesia, on May 11.
International relations

ASEAN urges cool heads on South China Sea as summit ends

Indonesia's Jokowi laments 'no significant progress' on Myanmar crisis

11 May 2023
Nestle's factory at an industrial park in Yangon, Myanmar. (Photo obtained by Nikkei)
Myanmar Crisis

Nestle to exit Myanmar production by shutting down plant

Food giant joins other multinationals leaving the country amid instability

1 March 2023
Myanmar migrant workers at a camp for construction staff in Bangkok. Experts say the longer military rule in Myanmar lasts, the more people are likely to leave for Thailand.
Myanmar Crisis

Myanmar citizens eye escape to Thailand to avoid conflict at home

Strife-torn country pushing out the weary looking for peace of mind

21 February 2023
Sule Pagoda in Yangon on Jan. 30: Two years after the military takeover, Myanmar can still see no way out of the darkness.
Asia Insight

Myanmar economy hobbled by military rule despite garment boom

Reliance on fewer foreign partners limits economic recovery prospects

31 January 2023
People shop at a market in Yangon on Jan. 24. Myanmar's economy is expected to grow this year, but not enough to recover to levels before February 2021 when the military took power.
Myanmar Crisis

Myanmar economy to grow 3%, but far less than 2020: World Bank

Inflation, supply shortages show military's failure to regain business confidence

30 January 2023
A man harvests opium in Myanmar's Kayah state in November 2016.
Myanmar Crisis

Myanmar opium production nearly doubles to 9-year high: U.N.

Economic and security challenges push farmers to grow illicit crop as prices soar

26 January 2023
A coffee shop in Yangon, which opened last year, offers a place for people made anxious by political and civil strife to relax.
Myanmar Crisis

Myanmar's urban hangouts recover as people tire of politics

Young people stressed by social unrest seek solace among friends

11 December 2022
Passengers disembark at a train station in Myanmar in July 2018. Railroads can significantly cut shipping times between Myanmar and China.
Belt and Road

China carves path to Indian Ocean with Myanmar rail network

Expanding Belt and Road economic corridor opens new possibilities for trade

20 October 2022
Myanmar migrant workers in Thailand demonstrate against the military regime in May. If blacklisted by the FATF, Myanmar citizens around the world would have more difficulty accessing financial services.
Myanmar Crisis

Myanmar citizens would bear brunt of potential FATF blacklisting

Move would squeeze foreign aid; experts warn of 'detrimental consequences'

25 September 2022
Riot police guard a bank in Yangon. Myanmar's economy has been hit hard by Western sanctions over the military takeover.
Myanmar Crisis

Myanmar faces blacklisting risk by global financial crime watchdog

FATF's designation could further dent the regime's economic credentials

7 September 2022
Oil tanks at a petroleum depot in the port of Vladivostok, Russia. Myanmar starts importing Russian fuel oil as early as September.
Ukraine war

Thailand, Vietnam, Myanmar deepen Russia ties to blunt economic woes

Southeast Asia nations seen giving Moscow breathing room on sanctions

6 September 2022
The depreciation of the kyat against the dollar is believed to have been triggered by the central bank's forced currency conversion rule.
Myanmar Crisis

Myanmar plans $200m currency intervention to fight inflation

Local currency kyat slides nearly 40% in August as fuel prices climb

2 September 2022
Weaker logistics and more supply shortages, as well as soaring fertilizer and fuel prices, are contributing to Myanmar's economic woes.
Myanmar Crisis

Myanmar inflation crushing consumers since military takeover

Rice prices have surged more than 40% while exorbitant gas costs hit transport

26 August 2022
Myanmar's foreign-currency shortages will limit supplies of such imports as fuel and cooking oils, the World Bank says.
Economy

Myanmar economy to grow 3% as recovery lags: World Bank

Prepandemic activity unlikely to return soon despite weaker-than-expected COVID hit

22 July 2022
A bank employee ties stacks of kyat together in Yangon. The Myanmar currency has weakened since the military took control of the country in 2021, now trading for around 2,190 to the dollar on the street.
Myanmar Crisis

Myanmar revokes foreign company exemption from currency rules

International businesses need to convert deposits into kyat, central bank says

15 July 2022
After Vietnam, Cambodia has become the next popular destination for China’s processing trade business.
Caixin

Cambodia, Myanmar race to become apparel making hubs

Tax reductions and exemptions among many incentives luring manufacturers

30 June 2022
Cars are seen stuck in a traffic jam in Yangon. The Myanmar government stopped issuing car import permits in October last year. 
Myanmar Crisis

Myanmar blocks car, luxury imports amid foreign-currency crunch

Military seeks to balance trade by slashing nonessential purchases

23 June 2022
Myanmar bank notes. The country has introduced rules requiring businesses and individuals to exchange foreign currency for kyat.
Myanmar Crisis

Myanmar to exempt foreign companies from forced currency exchanges

Central bank briefs banking officials on loosening of rule that has created uncertainty

8 June 2022
After the military takeover in February 2021, foreigners who had invested in Myanmar's energy sector began fleeing the country, leaving severe power shortages in their wake.
Myanmar Crisis

Myanmar energy crisis deepens as power plant investors balk

Military's new minister signals a tougher approach toward businesses

5 June 2022
Myanmar began requiring this month that all foreign currency entering the country be converted to kyat.
Currencies

Myanmar exempts foreign investments from currency conversion rule

Diplomats and U.N. agencies also on exemption list

22 April 2022