The Irrawaddy | Archive | Business | 2
Rangoon Labor Strike Continues on Small Scale Amid Rising Tension

Some 100 laborers continue to strike for pay rises from three garment factories, despite arrests of demonstrators and calls by authorities to end the strike.

The Irrawaddy Business Roundup (Feb. 21, 2015)

IMF predicts GDP slowdown, Wanbao bus attacked at Letpadaung, trade booming at Myawaddy checkpoint, and boutique businesses TS1 and Port Autonomy shuttered at Lanthit Jetty.

Observers Weigh FDI Impact of Ongoing Ethnic Conflict

Recent conflicts between the government and armed ethnic rebels in Burma are unlikely to impact investment in 2015, though broader turmoil could crimp inflows.

Border Trade With China Dented by Kokang Clashes

Cargo through the border town of Muse declines, with traders blaming recent fighting in northeast Burma and the coming Chinese New Year.

SABMiller silent on Burma investment reports; Kyaukphyu SEZ contracts to be awarded this month; and firms jostle to provide stock exchange services.

Telenor Weighed Down by Surging Asian Costs

Mobile phone operator Telenor missed fourth quarter profit estimates and expects margins to fall this year as it ramps up spending in Burma.

SABMiller Eyes Stake in Burma Brewer: Sources

SABMiller considers taking a stake in Burma’s biggest brewer, a deal that would partner it with a conglomerate tied to the former ruling military.

Myanmar Times Announces Launch of Daily Edition

The Myanmar Times announces it will go from a weekly to daily print edition on March 9, making it Burma’s only private English-language daily.

Development banks deny plans to fund Nga Yoke Kaung coal station; China to spend billions on Yunnan; and Singapore’s banks seek closer ties with Burma.

Shell Inks Contract to Explore 3 Offshore Oil and Gas Blocks

Royal Dutch Shell has signed an exploration and production-sharing contract with a state-owned firm for three offshore deep-water blocks off Arakan State and Tenasserim Division.

Low Labor Cost Ranks Burma among Top Countries for Investment

Burma is named one of the five best countries in the world for cheap labor, making it attractive for manufacturing investment.

Corporate Tax Evaders to Lose Their Licenses

In an effort to tighten up Burma’s loosely enforced tax code, nearly 200 domestic companies will be de-registered for evasion, officials announced on Wednesday.

Chinese Firm Joins Local Rice Miller to Bolster Industry

A Burmese rice milling company and the Chinese firm CAMC Engineering partner to improve the quality and capacity of rice milling operations in Burma.

After Locals Block Coal Plant Survey, Mitsubishi Promises Japan Study Trip

Nga Yoke Kaung residents have blocked a survey for a planned coal power plant, prompting an offer for villagers to inspect coal facilities in Japan.

Burma Opens Deep Sea Port for Chinese Oil Pipeline

Burma opens a deep sea port off its western coast, part of a project that will carry crude oil from the Middle East to China.

Italian Thai, Rojana to Sign $1.7b Dawei Deal in March

Italian-Thai Development Pcl. and Rojana Industrial Park will sign a $1.7-billion deal in March to develop the Dawei industrial zone, the Thai government said.

Chinese-backed oil refinery planned for Dawei; negotiations underway for Mon State beach resort; and Thai government flags cross-border trade expansion with Burma.

E-Payment Services to Come Online in February

Burma’s sole domestic card-based payment system, Myanmar Payment Union (MPU), will offer online services beginning in early February, according to an executive.

Burma’s First Govt Bond Auction Sells Less Than Half of $49M Offering

Burma’s Central Bank sold less than half the 50 billion kyats worth of treasury bonds on offer in an auction aimed at reforming the economy.

Mizzima to Shut Down Daily, As Tycoon Cuts Ties

Mizzima Media Group will cease publication of its local-language print newspaper on March 1, as local businessman Serge Pun ends his involvement with the organization.