Myanmar Financial News

Ministry of External Affairs issued a strong condemnation of Khamenei's comments, which had criticized the treatment of minorities in India. “We strongly deplore the comments made regarding minorities in India by the Supreme Leader of Iran. These are misinformed and unacceptable. Countries commenting on minorities are advised to look at their own record before making any observations about others,” the ministry stated.

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.

India on Sunday unveiled 'Operation Sadbhav', an inititative that would help countries severely hit by Tyhpoon Yagi, namely Myanmar, Vietnam and Laos. External Affairs Minister Dr S jaishankar took to social media platform X to announce that New Delhi so far has sent three aid packages to the impacted areas. The Operation is being backed by the Indian Navy and the Indian Air Force, with INS Satpura and IAF jets carrying out the relief operation.

internet censorship evasion tools. The tools, supported by the U.S.-backed Open Technology Fund (OTF), have seen a surge of usage in Russia, Iran, Myanmar and authoritarian states that heavily censor the internet. OTF's pitch to tech companies at the meeting was to help offer discounted or subsidized server bandwidth to meet the fast-growing demand for virtual private network (VPN) applications that OTF funds, the organisation's president, Laura Cunningham, told Reuters.

Lenders to debt-ridden Reliance Capital Ltd (RCAP) have alleged that Hinduja Group firm IIHL is indulging in delaying tactics, resulting in slowdown in implementation of the resolution plan. Mauritius-based IndusInd International Holdings Ltd (IIHL) emerged as a successful bidder for acquisition of Reliance Capital. The NCLT Mumbai on February 27, 2024, approved IIHL's Rs 9,861-crore resolution plan for the debt-ridden financial firm. According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought.

Mizoram arms and explosives seizure case connected with Myanmar-based insurgent groups. In a statement NIA stated all 10 accused have been charged with active involvement in the arms, ammunition and explosives trafficking network operating on the Indo-Myanmar border. They have been charge-sheeted under various sections of IPC, Arms Act and Explosive Substance Act. The chargesheet, filed before the NIA Special Court, Aizawl, Mizoram, identified the accused as Lalrintluanga, Laldinpuia, Zoremsanga, Lalbiaktluanga, Lalrinsanga, Zothanmawia, Henry Siangnuna, J Rohlupuia, Laldinsanga & David Lalramsanga, who included some Myanmar-based absconders. The case was registered in May 2022 following the seizure of a large quantity of explosives, firearms and ammunition from two vehicles at the outskirts of Kelsih Village, under Kulikawn PS, Aizawl district.

Murugappa Group equally among three family groups that’s been over two years in the making has got stuck, said people with knowledge of the matter. The Murugappa Chettiar family had been negotiating an amicable split of the diversified business empire with over $9 billion in revenue in FY23 after five generations of working together over more than a century, they said. The much-celebrated turnaround of CG Power within four years of its takeover by group company Tube Investments of India (TII) has become a key bone of contention among different family groups that make up the promoter group. Shares of four Murugappa group companies, including Wendt India and Shanti Gears, yielded over a 50% return in CY23. But it’s the meteoric 15-fold jump in the share price of CG Power after the TII buyout that has grabbed the spotlight. Another standout has been the performance of Cholamandalam Investment and Finance Co. Ltd, the group’s principal financial services arm, a listed company with over Rs 1 lakh crore market value.

North Eastern Council (NEC) has withdrawn the draft ‘Vision Plan 2047’ document after it wrongly mentioned that the Kukis migrated from the 'Chin State of Manipur'. Manipur Chief Minister N. Biren Singh said in a Facebook post on Sunday said that following the mistake in the draft NEC 'Vision Plan 2047’, the issue was raised with Development of North Eastern Region (DoNER) Minister Jyotiraditya Scindia following which it was withdrawn. In Chapter 3 – 'Art, Culture, Natural Heritage' — of the draft vision document, “Kukis (Chin) from the Chin state of Manipur” was mentioned.

A Japanese business executive who had been detained in Myanmar for more than a month has been released

Union Home Ministry has asked to expedite the whole border fencing construction work by conducting survey and alignment of stretches along the Indo Myanmar border in Manipur and Arunachal Pradesh. Four Northeastern states including Nagaland, Mizoram, Arunachal Pradesh and Manipur share a border with Myanmar. The Mizoram Assembly on February 28 this year adopted a unanimous resolution opposing the Centre's decision to fence the India-Myanmar border and eliminate the Free Movement Regime (FMR). The Nagaland government and almost all organisations in the state are also against the border fencing and abolishing of the FMR.

Sheikh Hasina has alleged that the USA aimed to oust her from power due to her refusal to cede control of Saint Martin Island, which would have allowed the USA to exert influence over the Bay of Bengal. Hasina, in a message conveyed through her close associates and made available to ET, claimed that by surrendering the sovereignty of Saint Martin Island, she could have stayed in power. However, she chose not to compromise on the island's sovereignty, highlighting the island's strategic importance and the potential geopolitical influence it represents in the region.

paddu—served at breakfast, sambar-rice for lunch and mirchi bajjis (chilli fritters) as an evening snack. She has been helming this micro-business for five years now, paying for the upkeep of three children and their education. Taiyamma’s husband, a driver in a neighbouring state capital, earns just enough to repay monthly loan instalments on a newly acquired pick-up van.

trade agreement in goods will be held in November, an official statement said on Saturday. The third round of the negotiations was concluded on August 1 in Jakarta, Indonesia. Eight sub-committees have been constituted under the India-Asean Free Trade Agreement Joint Committee for undertaking negotiations on different areas related to the review of the pact. «The next meeting of the AITIGA (Asean-India Trade in Goods Agreement) Joint Committee will be held in India from 19-22 November 2024,» the Commerce Ministry said.

food inflation in India as analysts track food inflation with thali prices. Persistent food inflation has made the RBI's Monetary Policy Committee (MPC) hard in large measure due to prices of vegetables which are perishable in nature and also subject to vagaries of weather which have been made worse by climate change. Another item on the thali which keeps its price high is pulses, especially tur (also called arhar) dal which India imports in large measure. In June, prices of pulses surged 21.64% year-on-year, more than double the 9.21% increase seen a year ago, according to government data. India imported all major pulses, including tur, urad, masoor, chana and yellow peas, in 2023-24 due to low domestic production on account of erratic rainfall, spending around $3.74 billion during the financial year.

MAE SOT, Thailand—In late December, Guracha Belachew Bersha helped lead a small but brazen rebellion. He’d been enslaved for 16 months in a twisted new criminal empire in which Chinese gangsters traffic people from around the world, often to remote and lawless parts of Southeast Asia, and force them to sit at computers all day scamming strangers online. The cyber frauds they’re forced to commit are called pig butchering, named for the way the perpetrators fatten up their victims by gaining their trust before taking their money and cutting them loose.

South China Sea, escalating fighting in Myanmar, and regional rivalry. Meetings on Saturday will bring together in the same room allies of the Association of Southeast Asian Nations — including the United States, China, Russia, Japan, India and Australia — to bolster their relationships and discuss key security issues and other regional affairs.

Narendra Modi on Sunday announced that India will contribute one million dollars to the UNESCO World Heritage Centre to provide support for heritage conservation in countries, especially of the Global South. Speaking at the inauguration of the 46th session of the World Heritage Committee at Bharat Mandapam in New Delhi today, PM Modi said that India considers the preservation of global heritage as its responsibility, and hence, is providing support for heritage conservation not only in India but also in countries of the Global South. «India considers the preservation of global heritage as its responsibility, and hence, we are providing support for heritage conservation not only in India but also in countries of the Global South. India is assisting in the conservation of many heritages like Angkor Wat in Cambodia, Cham Temples in Vietnam, and Bagan Stupa in Myanmar. In this direction, I am making an announcement. India will contribute one million dollars to the UNESCO World Heritage Centre. This grant will be used for capacity building, technical assistance, and the conservation of world heritage sites,» PM Modi said.

China and Bangladesh are reaffirming their ties during a visit by Bangladesh Prime Minister Sheikh Hasina to Beijing as tensions rise in the region over territorial disputes and resources

India on Thursday made a big push to connect South Asia with SE Asia through The Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) with Foreign Minister S Jaishankar hosting his counterparts from the group's member states, including Myanmar, and exploring possibility of expanding the group to include three SE Asian states that have Bay of Bengal linkages. In his opening remarks at the BIMSTEC Foreign Ministers' Retreat Jaishankar called upon the BIMSTEC countries to come up with own solutions which becomes even more imperative given the current global and regional scenario. «The BIMSTEC Charter, for a start, has come into effect from May 20 this year. The global and regional developments also make it imperative that we find more solutions amongst ourselves.»

Myanmar’s state-run media say the country's military government has arrested a Japanese business executive, along with dozens of local businessmen, for allegedly selling rice at prices well above the officially regulated ones

A report by a U.N. expert on human rights says that Thai banks have become the main supplier of international financial services for Myanmar’s military government, enabling it to purchase goods and equipment to carry out its increasingly bloody war aga...