Ooredoo Myanmar has invested US$2.4 billion within a four-year period until at the end of 2018 in Myanmar, said its CEO Vikram Sinha during a ceremony to mark fourth anniversary of Ooredoo in Myanmar held on August 14.

Ooredoo Myanmar set up its business in Myanmar at the end of 2013 through US$1.3 billion investment and started their services in 2014. It had spent about US$6 million for corporate social responsibilities (CSR) for the interest and betterment of Myanmar people. They implemented the CSR programs especially in education and health care sectors.

The Ooredoo Myanmar is now planning to introduce 5G technology and start implementation process. It tested 4G Pro networks as a pilot project in Mandalay and with a download speed up to 500 MB/s. It is still being implemented in Yangon too, sources said.

Source: Daily Eleven

The first Krispy Kreme shop in Myanmar is planned to open its door in September 2018. With a growing economy and a population eager to welcome global brands, the time is right for Krispy Kreme to bring sweet treats to Myanmar. It has a plan to open 10 shops in Myanmar over the next five years.

Krispy Kreme Doughnut Corporation is a global retailer of premium-quality sweet treats, including its signature Original Glazed doughnut. Headquartered in Winston-Salem, N.C., the company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937.

Source: Daily Eleven

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One of Myanmar Private Bank, AGD, launched its Visa Credit Card on 1st August. There will be 3 types of visa credit card, namely, Visa Classic, Visa Gold and Visa Platinum Card. The technology used in AGD Visa credit cards enables cardholders to control card lock to keep them secure. The bank aims to help move Myanmar to cashless society and be beneficial to stakeholders as well as all financial institutions. It is noted that Individuals who are older than 21 years are eligible to apply for these cards.

Source: Myanma Alinn

GGI Insurance launched a short term endowment life insurance, the first of its kind in Myanmar, at Pan Pacific Hotel in Yangon on August 3.

These aged between 10 and 60 may have such a kind of insurance with an amount of K1 million to K50 million. The period of insurance can be five, seven or ten years, and a premium can be paid ever month, every three months, every six months or every year.

For the premium, it will include interest rate. But it is unlike banks. Banks pay interest depending on savings. In insurance, the interest rate will be 6 percent depending on birth and death rates. It also depends on age group. Younger people can receive larger interest rate. But average rate is 6 percent.

Source: Daily Eleven

NTT Communications announced to expand its Digi-Path Premier Service to Mandalay as its second phase. The service will cover Aung Myay Thar San Tsp, Chan Aye Thar San Tsp, Mahar Aung Myay Tsp and Pyi Gyi Takhon Tsp of Mandalay.
The firm has offered reliable, high-speed internet connections for enterprises throughout the Yangon area since 2016. Its service includes dedicated circuits from 1Mbps to connect enterprises with NTT Com’s global internet network. Optional services include global IP address, web hosting, mail hosting, rental routers, managed firewalls, internet VPN and file transfers.

Source: 7 Days News

The International Language & Business Center (ILBC) has been permitted to invest $52 million to provide private educational services in Yangon, Mandalay and Nay Pyi Taw, according to the Myanmar Investment Commission (MIC). It is planning to launch the new campuses in April next year. The organisation has already established 30 campuses in 9 major cities in Myanmar providing preschool, kindergarten, primary school, secondary school curricula as well as English proficiency courses. Eight of these schools are in Yangon. The overall ILBC student population amounts to 13,000 students with 2,500 attending ILBC schools in Yangon.

Source: Myanmar Times

Myanmar’s two domestic airlines Air Bagan and Apex Airlines have stopped their operations, surrendering their air operator’s certificates (AOC) to the authorities recently. Meanwhile, the local FMI Air has planned to stop selling air-tickets with unknown reason starting July 20. Shortage of aircrafts and economic loss forced the domestic airlines to stop their operations.

In accordance with Myanmar Aviation Act, the airlines which surrendered their AOC will be allowed to apply again when they have enough aircrafts to resume flight. The Air Bagan started their services for 20 domestic routes in 2012 and the Apex Airlines started running for five domestic routes in 2015. FMI started its operation since 2012.

Source: Xinhwa

2.0 Company Limited has launched a new transport mobile app in Yangon, Mandalay and Nay Pyi Taw that could rival Grab’s taxi app. The new OK app, which launched earlier this month, offers both drivers and passengers more flexibility and options compared to the other taxi apps in Myanmar.

The company will not receive any commission from drivers. The riders can take a taxi with fixed fares as shown in the app or they can also choose the bargain option with drivers. There will also be an in-app option allowing riders to choose between air-conditioned and non-air-conditioned vehicles for different fares.

So far, about 3000 taxis have registered on the OK app. For now though, only drivers with Android phones can download the app. More uniquely, riders will also be given the option to book popular modes of transport in other states and regions. The company expected to expand their network to other States and Regions within two or three months. 2.0 is the sister company of OK Dollar, the mobile money transfer application.

Source: Myanmar Times

Yoma Bank and Pact Global Microfinance Fund (PGMF) signed a funding agreement in support of PGMF’s microfinance operations in Myanmar on July 18th 2018. This funding agreement was worth USD 11.5M (MMK15.85 Billion). The funding agreement with PGMF will be the 7th MFI funding agreement for Yoma Bank. Around 40,000 families are expected to have the help they need to lift their micro businesses and small holder farms out of poverty and create their own futures with the help from Yoma Bank and the support from PGMF. Since 1997, PGMF’s microfinance operations have reached 1,492,554 beneficiaries, over 98 percent of whom are women.

Source: Daily Eleven 

MPT, Myanmar’s first and leading telecommunications operator, announced that it is launching the next phase of its Fibre to the Home (FTTH) Internet Rollout Plan on 5^th July. MPT is now covering the whole of downtown Yangon, 10 townships, enabling families to access high-quality and modern internet infrastructure. In addition, there are no initial fees for new customers during the promotion period until the 25th of July.

For those customers who want unlimited downloads for a simple monthly fee, MPT is will offer fibre internet from only 39,000 Ks per month with no annual fee. MPT is also planning to expand its FTTH internet network to other areas of Yangon, Mandalay, and the regions.

Source: MPT