Category Archives: Business News

Rumors of Foreign Investors Soon Accessing YSX Quashed

RSU: 16:JUNE:2016 RANGOON — Foreign investors will be unable to buy shares on the Yangon Stock Exchange (YSX) as long as the Myanmar Companies Act is not amended, a senior YSX official said, dispelling rumors that shares trading would open up to foreigners this week. Earlier this week, misleading news apparently spread after Maung MaungRead More »

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Russian, Myanmar trade reaches to energy sector

Friday, 29 August 2014 RSU: NAYPYITAW, Myanmar- A Russian economic official said Friday bilateral trade with Myanmar could increase dramatically under the terms of a deal that may extend to energy. Russian Economic Development Minister Alexei Ulyukayev was on hand for the signing of a bilateral trade agreement with his counterparts in Myanmar. Bilateral trade stands atRead More »

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Burma’s Realtors, Bankers Asked to Report Potential Money Laundering

RANGOON — Burma’s Financial Intelligence Unit (FIU) this month encouraged real estate agents and bankers to report transactions involving large sums of cash, amid suspicions that money laundering is rife in both the country’s property market and financial institutions. The unit’s chief said last week that the FIU was stepping up activities to identify whereRead More »

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Gap Audit Reveals Issues at Burma Garment Factories

RANGOON — An audit conducted for clothing retailer Gap Inc. identified issues with working conditions, health and safety at two factories in Burma that are now producing garments for the United States-based company. Measures have been taken to address the so-called “compliance issues” at the Gap-supplying factories, according to a comprehensive new report compiled byRead More »

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US Fund in Deal to Build Solar Plants in Burma

RANGOON — A US investment fund has signed a US$480 million deal to build two solar energy plants in central Burma, one of the largest investments by an American firm since the easing of US sanctions. The agreement, inked by the ACO Investment Group and the Ministry of Energy, is aimed at helping ease electricityRead More »

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Myanmar Investments Intl Ltd Signing of microfinance joint venture agreement

Tuesday, 26 August 2014 RSU: TIDMMIL RNS Number : 9495P Myanmar Investments Intl Ltd 26 August 2014 Myanmar Investments International Limited Signing of microfinance joint venture agreement Myanmar Investments International Limited (“MIL” or the “Company”) is pleased to announce that its wholly owned subsidiary Myanmar Investments Limited (“Myanmar Investments”), has today signed a conditional jointRead More »

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ASEAN economic ministers meeting to kick off in Myanmar

Monday, 25 August 2014 RSU: Economic ministers of the Association of Southeast Asian Nations (ASEAN) have gathered in Myanmar’s capital of Nay Pyi Taw for their 46th meeting and related meetings due to kick off later on Monday. Myanmar is currently rotating chair of ASEAN. The four-day 46th ASEAN Economic Ministers Meeting (AEM) will discussRead More »

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How to become a billionaire

By Shiva Kumar Thekkepat Sunday, 24 August 2014 RSU: Hard work, passion and a bit of luck – the top 10 Indian Owners in the Arab world on Forbes Middle East’s 2014 list swear by these. They tell Shiva Kumar Thekkepat what sets them apart, and give us tips for joining the big boys’ clubRead More »

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Telenor’s aim remains high in Myanmar

By Khine Kyaw Sunday, 24 August 2014 RSU:Yangoon- Planning to introduce millions of SIM cards next month, Telenor Myanmar is confident that its services will satisfy local consumers and allow it to reach 90 per cent of population within five years as planned, said the company’s top executive. Petter Furberg, chief executive officer of TelenorRead More »

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Hackathon heralds Myanmar’s technology revolution

A national “hackathon” event to be held from September 5-7 is open for applications from talented young technology experts from across Myanmar, the organisers of the Business Solutions Hackathon announced at a media briefing in Yangon on August 7. Mr David Madden, founder of Code for Change told the briefing that this hackathonwould focus onRead More »

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