In dirt-poor Myanmar, smartphones are transforming finance

news of the economy



For chats and kyats

MYANMAR’S democratic transition sometimes seems marked as much by continuity as by change. Depressingly, the army continues its bloody persecution of Rohingya Muslims in the west, for example (see article). But elsewhere moves to open the country’s markets, started by the preceding military regimes, have gathered pace. New commercial and financial services are springing up.

Take Khin Hlaing, who owns Global Mobile Shop, a small store surrounded by tarpaulin-covered stalls selling fresh fruit in Hlaing Tharyar, an industrial area outside Yangon, the biggest city. He is one of almost 12,000 agents for Wave Money, Myanmar’s largest mobile-money transfer platform. Most days about 20 people use his shop to send funds to friends or family elsewhere in the country. One…

Комментариев нет

Добавить комментарий

news of the economy
As bitcoin’s price passes $10,000, its rise seems unstoppable

MOST money these days is electronic—a series of ones and zeros on a computer. So it is rather neat that bitcoin, a privately created electronic currency, has lurched from $1,000 to above $10,000 this year (see chart), an epic journey to add an extra zero. On the way, the currency …

news of the economy
A regulatory tempest lashes China’s markets

IT IS is the kind of company that for years was a safe bet for investors. China City Construction is big, government-owned and focused on building basic infrastructure such as sewers. But the bet, it turns out, was not so safe after all. In November China City missed interest payments …

news of the economy
Brazil puts its state development bank on a diet

Lula spots an Anglo-Saxon IN 2009, as Brazil was buffeted by the global financial crisis, its president, Luiz Inácio Lula da Silva, was seething. The mess, he complained, was the fault of “blue-eyed white people, who previously seemed to know everything, and now demonstrate they know nothing at all”. For …