The Irrawaddy | Archive | Business | 7
Trade Deficit, Salary Rises Set to Push Up Consumer Prices: Economists

The government’s dramatic salary increase and a fivefold increase in the trade deficit will push inflation rates above GDP growth, according to forecasts.

Burma Launches Export Strategy to Connect Smaller Firms to Global Economy

Burma launces an export strategy aimed at strengthening smaller companies, which is a departure from military rule when a few large firms dominated the economy.

Chevron Inks Oil, Gas Production Sharing Contract in Burma

Chevron Corp signs a production sharing contract with Myanmar Oil & Gas Enterprise (MOGE) to explore oil and gas in the Rakhine Basin.

Govt to Support Domestic Airlines as Asean ‘Open Skies’ Takes Effect

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.

Energy Firms BG, Woodside to Invest $1.1b in Burma Blocks: Official

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.

The Irrawaddy Business Roundup (March 21, 2015)

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 Dwindle Amid Conflict and Chinese Anti-Graft Campaign

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.

Govt Gives Green Light for Wine Imports

Domestic companies can now apply for wine import licenses, nearly one month after a major retail association stopped selling foreign alcohol demanding swift reforms.

Antique Furniture Enjoys a Rangoon Renaissance

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.

Property Market ‘Still Strong’

Sai Khun Naung, managing director of Sai Khun Naung Real Estate Company, discusses the outlook for Rangoon’s booming property market.

The Irrawaddy Business Roundup (Mar. 14, 2015)

MPT continues to tower over telco rivals, Yoma railway office development approved in Rangoon, and expansion announced for Mandalay gas plant.

Another Deadline Missed by Kyaukphyu SEZ Developers

Bidders claim the Kyuakphyu SEZ selection committee lacks transparency as announcement of winning firms is delayed for the second time this year.

Ongoing Suspension Puts High-Rise Developers, Investment Commission at Loggerheads

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.

Wine Imports to Flow Freely Under New Policy

Foreign wine imports will be legalized in April, the first stretch of phasing out Burma’s decades-long ban on alcohol imports.

The Irrawaddy Business Roundup (Mar. 7, 2015)

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.

Rangoon Govt Power Supplier to Become Corporate Entity

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.

The Irrawaddy Business Roundup (Feb. 28, 2015)

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.

City Mart Director Listed in Forbes’ Asia’s 50 Power Businesswomen 

Forbes Magazine lists Win Win Tint, managing director of Burma’s largest retailer City Mart Holdings, in its Asia’s 50 Power Businesswomen list.

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.