The Irrawaddy | Archive | Business | 8
Burma’s State-Owned Airline to Service Singapore

Burma’s state-owned flag carrier, Myanmar National Airways, announces that it will offer direct flights from Rangoon to Singapore beginning in August.

Burma’s Rice Exporters Eye European Market

Burma’s rice exporters will attend an exhibition in Milan for the first time, hoping to promote Burmese rice in Italy and other European markets.

The Irrawaddy Business Roundup (June 13, 2015)

Burma might miss out on Chinese assistance; land prices too high for Thai Firm; Indonesia’s Lippo to build hospitals; new hotel rooms coming soon.

Local Gold Prices Highest on Record in Burma

The price of gold reaches a 27-year peak as the Burmese kyat declines in value against the US dollar.

Kyat Continues to Drop Amid Cash Shortages

As the Burmese kyat continues its downward spiral, businesspeople claim foreign exchange counters are deliberately withholding US dollars to capitalize on their climbing value.

British, Burma Chambers of Commerce Push for Increased Trade

The peak business representative bodies from the UK and Burma have signed an accord in Rangoon to increase trade between the two countries.

App Empowers Civilians to Capture Evidence of War Crimes on Smartphones

A new mobile phone app enabling civilians in conflict-torn countries to capture and share verifiable footage of war crimes will help authorities to prosecute perpetrators.

The Irrawaddy Business Roundup (June 6, 2015)

EU rice exports double, Comms Ministry plans more mobile spectrum, Tin production to decline in Wa territory, and Sule Shangri-La extension slated for 2016 opening.

Burma Eases 3-Month Fishing Ban

More than 1,000 trawlers can return to catching fish off Burma’s coast after the fishing industry complained about what had been a three-month ban.

Central Bank’s US Dollar Policy Will Bolster Black Market: Critics

The Central Bank of Myanmar has halved the permitted withdrawal limit of US dollars from local banks, in an apparent effort to prevent the greenback from becoming an alternate currency.

Burma’s New Auto Policy to Promote Manufacturing, Say Experts

Domestic and foreign experts convene to hash out details of a new automobile policy geared toward streamlining Burma’s ownership, manufacturing and import practices.

The Irrawaddy Business Roundup (May 30, 2015)

New gas-fired plant agreement for Thilawa SEZ, Sheraton announces Rangoon hotel site, and two more foreign banks to open next week.

Central Bank to Issue New 10,000 Kyat Notes

The Central Bank of Myanmar (CBM) announces that a modified 10,000 kyat note will be issued next month to prolong circulation life and prevent forgery.

Govt Claims Jump in Foreign Investment

Figures show an astounding US$2.2 billion worth of foreign direct investment in April, but officials remain tight-lipped over how much of the money has made its way into Burma.

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.