The Irrawaddy | Archive | Business | 8

Mobile networks hindered; PricewaterhouseCoopers fined for Burma ties; Thilawa SEZ flush with capital; India eyes Burma’s gas; and a migrant workers advocate faces legal threat.

Burmese Consumer Group Makes Bonfire of Illicit Snacks

The Consumer Protection Association of Myanmar is confiscating food products that it says are in contravention of food safety and consumer laws.

Burmese Banks Fret Over Foreign Competition

The local banking industry worries their best staff will be pulled away after Burma grants operating licenses to foreign banks next month.

Thai Coup Leaders Trigger Oil Investment Rush Into Burma

State-owned Thai energy companies are more actively pursuing oil and gas deals following the May seizure of power in Bangkok by a junta.

Burma’s neighbors face crises, an executive jet service is launched at Rangoon’s airport and more foreign firms agree onshore oil and gas deals.

Security a Concern as Jade Mining Set to Resume in Hpakant

Clashes broke out last week between ethnic Kachin rebels and the Burma Army close to the country’s main jade mining area.

Local Companies Invest US$ 45 Million in Luxury Napyidaw Hotel

KBZ Group and Jewellery Luck Company split ownership of a hotel that will offer the most expensive rooms in Burma’s capital.

Burma’s Tay Za ‘Rethinking’ Bank Sale to Ne Win’s Family

The tycoon tells reporters he is selling his majority stake in AGD Bank because of the impact of sanctions imposed by the US against him.

Rangoon Tax Department Plans Annual Property Valuation

Rangoon Division’s Internal Revenue Department plans to conduct an annual evaluation of real estate prices as part of its new property sales tax system.

Burma Can Renegotiate Dam Deals to Keep More Power, Says Chinese Firm

A Chinese firm that signed deals with the former military regime to build hydropower dams said Burma could renegotiate the terms and keep more power.

Inflation forecast to plateau at 9 percent, delays to the new airport project threaten to create a bottleneck and consultants eye Energy Ministry advisory role.

More Burmese Gas Pumped Over the Border as Thai Reserves Dwindle

Thailand’s state-owned energy firm PTTEP announces that it has begun pumping gas from the Zawtika field, but little goes to meeting domestic demand in Burma.

Many Burmese Will Have to Wait for Ooredoo Network

The Qatari company’s mobile phone and Internet services are already available to some, but for more than half the country the wait continues.

Peace Drive

The government’s efforts to end decades of civil war in ethnic states have put some flashy wheels on Myanmar’s roads.

Airports of Thailand links up with Rangoon airport’s operator, four onshore oil and gas deals are signed and a gas plant draws foreign firms’ interest.

Viber Says App Used by 5 Million Burmese

Mobile phone application Viber announces that the use of its communications service in Burma has soared and reached 5 million users in July.

China’s ‘Strategic’ Gas Pipeline in Burma May Be Built on Hot Air

The pipeline from the Arakan coast to Yunnan Province is currently working well below its capacity, with little explanation given as to why.

Ooredoo SIM Cards Go on Limited Sale in Burma

Although there has been no official announcement, some phone shops in Mandalay and Naypyidaw have begun selling mobile phone SIMs.

Japan’s ANA Cancels Investment in Burma’s Asian Wings

ANA Holdings puts its decision to withhold an investment of $25 million down to intensifying competition between airlines in Burma.

Burma Pipeline Carries 1.87bln cm of Gas to China in First Year

Pipeline running from Arakan State’s coast to Yunnan Province in China should be able to carry 12 billion cubic meters of natural gas per year.