The Irrawaddy | Archive | Business | 8
Burma Awards Statoil, Conoco Phillips Deep-Sea Exploration Contract: State Media

Burma has awarded contracts to international oil majors Statoil and ConocoPhillips for oil and gas exploration in a deep-water offshore block, state media reports.

The Irrawaddy Business Roundup (May 2, 2015)

Investors advised to “go big”; Singapore gas-fired plant approved; budget boosts power spending; European firms bring beauty products; regional products could get special status.

Burma’s Formerly Blacklisted Businessman Urges US to Delist Others

The first Burmese businessman removed from a US blacklist says Washington should delist more people to partner with American companies for Burma’s economic development.

Employers, Workers Far Apart in Minimum Wage Negotiations

Discussions between government, workers’ representatives and factory owners reveal wide differences of opinion about Burma’s future minimum wage, which will be set soon.

The Irrawaddy Business Roundup (April 25, 2015)

Tin exports lower prices; Star City’s next phase underway; Magwe solar plant gets partner; three foreign banks open offices; and World Bank envisions continued growth.

‘Crony’ Win Aung Removed From US Blacklist: Who’s Next?

Burma’s business community predicts that the delisting could signal a tide of redemption for a long list of so-called cronies ostracized by the Western superpower.

Govt Targets Economic Growth of 9.3% This Year

Burma is targeting economic growth of 9.3 percent in this fiscal year, driven by an unprecedented amount of foreign investment.

Volvo Prepares to Send ‘Made in China’ Cars to US

On the verge of exporting the first “Made in China” cars to the United States, Volvo is determined to show they are as good as vehicles it produces in Europe.

Google Lavishes Chairman with $109 Million Pay Package

Google paid its billionaire Executive Chairman Eric Schmidt nearly $109 million last year while the company’s stock slumped.

Firms to Sign First Phase of Dawei SEZ Development in June

ITD and Rojana Industrial Park will sign a $1.7-billion deal to develop the first phase of the Dawei industrial zone in southeastern Burma by June.

Germany Receives US Blacklisted MP for Financial Tour

A US blacklisted lawmaker leads a delegation of Burmese bankers to Germany this week for a study of financial institutions.

The Irrawaddy Business Roundup (Apr. 11, 2015)

HAGL seeks new investor for Inya high-rise, Suzuki to assemble cars in Thilawa SEZ, and Mon State power plant gets the go-ahead.

Foreign Investment Soars to Record $8B in 2014-15

Foreign direct investment in Burma grows sharply in 2014-2015, reaching US$8 billion, a more than doubling of investments compared to the year before.

Foreign Banks Opening Branches in Burma for First Time in Decades

Two Japanese and one Singaporean bank will become the first foreign banks to operate in Burma for decades when they open branches on April 23.

Burma’s Rice Exports Up 40% in 2014-15

Burma’s rice exports rise over 40 percent in the 2014-15 fiscal year, with shipments to China dominating despite Beijing’s official ban on Burmese rice imports.

The Irrawaddy Business Roundup (Apr. 4, 2015)

Warnings EU investment deal could keep garment wages low, Toshiba invests in hydropower, and Mitsubishi begins joint venture with local coffee maker.

Air Mandalay to Return to Skies in May

The temporarily grounded Air Mandalay expects to resume international flights later this year, following a resumption of domestic routes in May.

Visa Card Expands Services, Local Card Payments Hampered by Problems

Visa Card can now be used at Rangoon City Mart supermarkets, while the domestic card system of Myanmar Payment Union continues to suffer from problems.

Burma’s Trade Deficit Jumps 88 % in Fiscal 2014/15

Burma’s trade deficit jumps 88 percent in the fiscal year ending on March 31, driven by rapid economic expansion in the formerly military-ruled country.

In Presence of Dutch Queen, Govt Launches Strategy to Expand Microcredit

Burma’s Ministry of Finance launches a new strategy that aims to expand access to financial services, such as microcredit and insurance, to a broader public.