The Irrawaddy | Archive | Business | 7
Limit Set as First Pseudo-Credit Cards Are Issued

After giving its approval for local banks to issue quasi-credit cards, the Central Bank of Myanmar sets a maximum withdrawal limit of 5 million kyats.

The Irrawaddy Business Roundup (May 23, 2015)

Oordeoo management shuffle, mobile app seeks finance in London, Telenor to build 700 new mobile towers, and tourist hotel planned for Chin State capital .

Parliament to Discuss Postponing Mobile ‘Top-Up Tax’

Parliament will consider delaying a tax on Burma’s cellphone users due to go into effect next month, after a lawmaker asked to revisit the plan.

Gap Apparel Production Triples During First Year in Burma

American retailer Gap Inc. has nearly tripled the output of its two Rangoon factories within its first year, according to a company spokeswoman.

Tale of Two Indias: City Auto Buyers go Upscale, No-Frills Minis Rule

As India’s auto industry matures, manufacturers are realizing they now have two different markets to serve, with costs to shoulder and a challenge to sales and profits.

New Thai-Burma Border Trade Post Tipped

Fully legal trading with Thailand will begin “soon” at an additional border station in southeastern Burma following an overland trade boom between the two countries.

A childhood passion for cattle has turned into a thriving dairy business for U Than Myint.

The Irrawaddy Business Roundup (May 16, 2015)

Firms approved for Myeik development; Mining Law could be delayed until after elections; new bridge links Burma with Laos; Thailand brings solar to Burma.

12 Factories to Be Sued for Polluting Mandalay Lake

Twelve factories in Mandalay’s Industrial Zone 2 are being sued by the Department of Fisheries for violating wastewater management regulations and polluting Taungthaman Lake.

A four-year decline in world rubber prices and difficulties in negotiating export hurdles has hit plantation owners hard in Wa territory.

Retailers Seek Govt Clarification on Booze Imports

The Myanmar Retailers Association has complained to the government over the long delay in clarifying the legal status of alcohol importers.

Architects Group Plans Forum to Air Shwedagon Concerns

A forum will be held on the weekend in response to concerns that nearby construction projects will affect the structural integrity of Shwedagon Pagoda.

Burmese Kyat Weakens in Light of Trade Deficit, Shortfall of USD

A shortfall of US currency and a growing trade deficit has once again weakened the Burmese kyat, bankers and businesspeople say.

BMW Boasts Strong Sales Figures in Local Market

German luxury automotive manufacturer BMW has made substantial inroads into the Burmese market, with the country’s first licensed importer selling 180 vehicles in six months.

Local Lenders Wait on Central Bank for Credit Card Approvals

Lenders expect logistical hurdles, inexperience and red tape to stall the introduction of credit cards in the immediate future.

Car lovers are offered a glimpse of classic beauty at Burma’s first vintage auto expo, showcasing refurbished vehicles from the pre-war days to the 1970s.

The Irrawaddy Business Roundup (May 9, 2015)

Rival Australian business groups in dispute, Spanish chain Melia to operate Inya Lake hotel, and Carlsberg begins brewing in Pegu.

Quick Buck Land Boom Stalls Mon State Resort Developments

The increasing profile of the Kabyar Wa beach has now jeopardized the government’s hope to realize its expansive development proposals by the planned 2017 completion date.

Investors Lining Up for Mergui Archipelago Hotel Permits

Over 20 companies await approval for hotel projects in Burma’s pristine Mergui Archipelago, while the plans of two joint ventures have already received the greenlight.

After Decades of Decay, Burma Bets on Thilawa to Lead Industry Boom

The first phase of the 2,400-hectare Thilawa Special Economic Zone an hour from Rangoon, is only months away from completion.