Chevron Corp signs a production sharing contract with Myanmar Oil & Gas Enterprise (MOGE) to explore oil and gas in the Rakhine Basin.
Burma’s government will protect its airline industry and keep most domestic airports off limits for regional airlines as it implements Asean’s Open Skies policy.
Britain’s BG Group and Australia’s Woodside Petroleum will invest up to US$1.08 billion to explore for oil and gas in four blocks off Burma’s coast.
Businesses’ transparency under the microscope; condominium pre-sales slow; an Indian border trade post is forthcoming; South Korea aids connectivity; and “intercultural training” offered for expats.
Jade sales at Burma’s biggest gems market slow to a near-halt, likely linked to Chinese anti-corruption campaigns and stalled production in conflict-affected Kachin State.
Domestic companies can now apply for wine import licenses, nearly one month after a major retail association stopped selling foreign alcohol demanding swift reforms.
Refurbished antique woodwork, mostly crafted during Burma’s pre-independence era, makes a roaring comeback in modern homes and offices throughout the country’s major cities.
Sai Khun Naung, managing director of Sai Khun Naung Real Estate Company, discusses the outlook for Rangoon’s booming property market.
MPT continues to tower over telco rivals, Yoma railway office development approved in Rangoon, and expansion announced for Mandalay gas plant.
Bidders claim the Kyuakphyu SEZ selection committee lacks transparency as announcement of winning firms is delayed for the second time this year.
The suspension period for five construction projects near Shwedagon Pagoda has been extended, as the Myanmar Investment Commission considers recommendations to reduce planned building heights.
Foreign wine imports will be legalized in April, the first stretch of phasing out Burma’s decades-long ban on alcohol imports.
UN calls for business reforms, experts warn on new state-owned bank risks, ring road mooted for Rangoon, and former capital ranks poorly on global survey.
The Yangon Electricity Supply Board will become a government-owned corporate entity on April 1; part of a plan to privatize electricity supply to Rangoon.
Government intervention sought in garment strikes; Chinese bank to lend $300 million for microfinance; Yetagun gas production halt considered; and investors not prioritizing human rights.
Forbes Magazine lists Win Win Tint, managing director of Burma’s largest retailer City Mart Holdings, in its Asia’s 50 Power Businesswomen list.
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.
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.
Recent conflicts between the government and armed ethnic rebels in Burma are unlikely to impact investment in 2015, though broader turmoil could crimp inflows.
Cargo through the border town of Muse declines, with traders blaming recent fighting in northeast Burma and the coming Chinese New Year.