The Irrawaddy Magazine | Archive | BUSINESS | 8
Burma to Grant Foreign Banks Licenses by End of September

An official document sent to more than 30 foreign banks with offices in Burma includes details of how international institutions will be allowed to operate.

Yoma increases its stake in the telecoms sector, Burma’s oil imports are up and the Thai coup could lead to more interest in Salween dams.

Campaign Group Criticizes World Bank Subsidiary for Funding Hotel, Real Estate in Burma

US campaign group questions whether International Finance Corporation’s $170 million in loans for luxury hotel and real estate development will alleviate poverty in Burma.

Burma Factories Warn of Rise in Strikes Fueled by Activists

As the country’s garment sector starts to recover to pre-sanctions levels, political issues may be spilling over into disputes between workers and employers.

Oil Firms’ Problems in Bangladesh Are ‘a Lesson for Burma’

International companies have complained about working restrictions, bureaucratic delays and unfair prices in the oil and gas industry of Burma’s neighbor.

Burma Govt May Let Foreign Banks Operate This Year

Foreign banks may be allowed to operate this year although they will only be allowed to have branches in certain areas and offer limited products.

Ooredoo to Reach 30% of Burma’s Population Before the End of September

Qatari telecom firm Ooredoo says it will expand access to 60 percent of people in the country by the end of the year.

Burmese Govt Urges Foreign Investors to ‘Take the Plunge’

Through a new “one-stop” office in Rangoon, the country’s investment body is looking to make it easier for international firms to enter the frontier economy.

Tourists could choose Burma after Thailand’s troubles, Rangoon’s airport will double in capacity and an investment shortage holds back the country’s seafood industry.

Poor Access to Banking Hurts Burma’s Economy: Report

A United Nations-led survey finds that few people save money, and that many are forced use expensive informal lenders.

Burmese Vice President Draws Ire With Cost of Living Comment

Most people are feeling the squeeze of rising prices, but Nyan Tun reportedly insists that 2,000 kyat, or just over $2, per day, is enough.

Ditching Clunkers, Car Imports Drive Burmese Demand for Oil

The opening up of Burma’s economy has meant a surge in ownership of used cars that are boosting demand and imports of fuel.

Ex-Norway Ambassador to Burma Becomes Telenor Executive

Former Norwegian Ambassador to Burma Katja Nordgaard will join Telenor, a Norwegian firm that she helped to win a license to develop Burma’s telecom sector.

Burma Faces Foreign Investment Competition From Cambodia, Laos

Study says the Burmese government must maintain the momentum of reforms in order for the country to fulfill its “vast economic potential.”

US Accuses China of Cyber Spying on American Companies

The United States charges five Chinese military officers and accused them of hacking into American nuclear, metal and solar companies to steal trade secrets.

Activists Free 2 Chinese Kidnapped at Burma Mine

A local manager for Chinese company Wanbao says the firm did not give in to demands made by activists who want the Letpadaung mine closed.

The UK government supports resource development, Malaysia’s trade minister encourages firms to invest in Burma, and the country’s import-export gap widens.

Burma’s Central Bank Expected to Submit Monetary Policy

A lawmaker says the new policy should come during the next Parliament, and may include rules around the entry of foreign banks into Burma.

SilkAir to Launch Mandalay-Singapore Direct Flight

The Singapore-based regional airline lauds Burma’s second city as a “promising destination” as it announces a new three-times-a-week direct flight from next month.

Rangoon to Host First Business Support Services Fair

It is hoped the event will help small businesses and entrepreneurs in Burma to get connected with companies offering market information and technology.