City Yangon Financial News

Myanmar ruling junta has carried out its first executions in nearly 50 years with the hangings of a former National League for Democracy lawmaker, a democracy activist and two men accused of violence after the country's military takeover last year.

Operation Brahma' to assist Myanmar after a devastating 7.7-magnitude earthquake shook the country, claiming over 1,644 lives and reducing buildings to rubble. The large-scale humanitarian mission includes rescue teams, medical aid, and relief supplies. Prime Minister Narendra Modi spoke with Myanmar’s military chief, Min Aung Hlaing, expressing solidarity. In a post on X, he said, «Spoke with Senior General H E Min Aung Hlaing of Myanmar. Conveyed our deep condolences at the loss of lives in the devastating earthquake. As a close friend and neighbour, India stands in solidarity with the people of Myanmar in this difficult hour.»

relief supplies to Myanmar as part of 'Operation Brahma' following a devastating 7.7-magnitude earthquake that struck the country and parts of Thailand. A C-130J military transport aircraft of the Indian Air Force carried the aid to Yangon. The death toll from the powerful quake has reached 1,002, according to Myanmar's state-run broadcaster MRTV. Reports indicate 2,376 people have been injured, while 30 remain missing. The disaster caused widespread destruction, toppling buildings, bridges, and infrastructure across Myanmar and Thailand. Following the powerful 7.5-magnitude earthquake that hit Myanmar on March 28, a 4.3-magnitude aftershock shook the region on Saturday, adding to the challenges faced by rescue and recovery teams. Also Read: Another 4.3 magnitude quake jolts India's neighbour while death toll crosses 1,000 The relief consignment included tents, sleeping bags, blankets, ready-to-eat meals, water purifiers, solar lamps, generator sets, and essential medicines, officials said. External Affairs Minister S. Jaishankar posted on ‘X’, stating, “#OperationBrahma gets underway. First tranche of humanitarian aid from India has reached the Yangon Airport in Myanmar.”

Indian Navy has started rapid preparations to deploy Humanitarian Assistance and Disaster Relief (HADR) operations in response to the devastating flash floods in Myanmar, in response to Typhoon Yagi. The typhoon, which has originated from the South China Sea, is being recognised as the most powerful storm in Asia this year. The Eastern Naval Command, in coordination with the Eastern Fleet, Base Victualling Yard (BVY), Material Organisation, and INHS Kalyani, has completed the overnight loading of essential relief supplies onto naval ships set to depart from Visakhapatnam.

Myanmar’s military government appears to be considering reviving a massive China-backed hydroelectric dam project

importing pulses from Myanmar has been eased and simplified. The importers have been asked to utilize Rupee/ Kyat direct payment system using Special Rupee Vostro Account (SRVA) through Punjab National Bank, the consumer affairs ministry said in a statement. India depends on imports of pulses to meet the domestic shortage. The country imports tur and urad dals from Myanmar. Consumer Affairs Secretary Nidhi Khare discussed with Indian Mission in Yangon issues relating to pulses imports from Myanmar such as import prices in the wake of revised exchange rates and stocks held by importers in Myanmar, it said.

The Central Bank of army-ruled Myanmar will issue a new banknote worth twice as much as the current highest denomination

Opponents of military rule in Myanmar marked the one-year anniversary of the army’s seizure of power with a nationwide strike Tuesday to show their strength and solidarity amid concern about what has become an increasingly violent contention for power.