The Irrawaddy | Archive | Business | 3
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.

Carlsberg to Begin Brewing Burma Beer in March

The Denmark-based Carlsberg Group will begin brewing beer in Burma from March, in a joint venture with local firm Myanmar Golden Star.

Govt to Push for Ambitious 4.5M Tourist Visitor Target

The Tourism Ministry aims to attract 4.5 million visitors this year, despite recent criticism on the accuracy of its visitor figures and tourism development approach.

Burma ‘Not Ready’ for Asean Single Market by End of 2015

The goal of creating a single business market among Asean’s 10 member countries by the end of this year faces considerable hurdles, analysts warn.

Kempinski Hotel Slated for Historical Rangoon Building in Controversial Plan

Switzerland’s Kempinski Group and Thai and Burmese investors are developing Rangoon’s old Police Commissioner’s Office into a luxury hotel, a move opposed by Burmese lawyers.

Madae Islanders to Protest Inauguration of Kyaukphyu Pipeline

Madae Island residents plan to air their grievances over the Kyaukphyu oil pipeline, which is expected to begin operations by the end of the week.

Poor marks for transparency; Britain promotes oil in Burma; Indonesian smelter plans revived; barrier-free tourism sought; and Thailand urged to do more on migrant labor.

Mixed Reception in Burma for Tumbling Global Oil Price

The plunge in global oil prices is good news for Burmese consumers, but is shrinking profit margins for the country’s crude exporters.

Smuggling Across Borders With China, Thailand Rising: Minister

The Minister of Commerce says the volume of goods being smuggled across Burma’s borders with China and Thailand is rising, despite a recent government crackdown.

Parliament at Odds with President Over Pay

A parliamentary drafting committee rejects Burmese President Thein Sein’s revisions on a plan to raise government salaries, according to lawmakers.

Gas Projects in Doubt as Bangkok Frets about Over-Reliance on Burma

Investment in Burmese natural gas development might be curtailed because of the Thai government’s concerns about relying on supplies from its neighbour.

Burmese Tycoon Tay Za Claims Uranium Unearthed in Burma

Tay Za, one of Burma’s biggest business tycoons, claims that he obtained and subsequently turned over to the government a mineral believed to be uranium.

Handover of Rangoon’s Secretariat Expected This Month: Developer

The Secretariat’s new lessees say they will convert part of the dilapidated colonial building into an art museum and put US$50 million toward renovations.

Oil Pipeline Through Burma to China Expected to Open in January

A crude oil pipeline meant to secure an alternative route for Chinese imports overland through Burma are set to open this month.

Calls for further financial reform; health spending expected to soar by 2020; and rights groups call for end to Burmese labor abuses in Thailand.

Record Foreign Direct Investment Smashes Government Forecasts

More than US$6 billion of investment has been pumped into Burma in the last nine months, almost double the volume of the previous fiscal year.

Muse Development Consortium Pushes for Easing of China-Burma Border Restrictions

Construction is ramping up for a new border station in northern Shan State intended to funnel tourists towards a massive private development.

Burma’s Rising Imports Drive Overall Trade Boost

Burma’s total trade volume is expected to rise by least US$5 billion, government data show, but a rising trade deficit threatens to undermine that growth.

New MPT Plan Gets Lukewarm Reception From Mobile Users

MPT launches a new plan offering different phone and internet rates, but customers and retailers are unimpressed with the state-owned telecom provider’s new plan.

Stock Exchange Licenses to be Awarded in April

Burma’s Ministry of Finance will begin issuing licenses to list on the Yangon Stock Exchange in April, according to Deputy Finance Minister Maung Mg Thein.