KYAW HSU MON / THE IRRAWADDY - The Irrawaddy Magazine
Concerns Grow Over Severe Slump in Rice Prices

Ahead of the main harvest season, rice prices and export demand have sharply dropped after China tightened border controls on Burmese rice imports.

Burma’s Kyat at Weakest Since Float on Strong Dollar, Trade Deficit

A strengthening US dollar on global currency markets, coupled with Burma’s growing trade imbalance, pushes the kyat exchange rate above 1,000 kyats per US dollar.

Tax Revenues Expected to Rise to $4Bln: Official

The government expects to collect $4 billion in taxes this year. This represents a third consecutive increase in revenues but falls short of IMF projections.

E-Visa Service to be Offered for 6 Additional Entry Points

Burma’s Ministry of Immigration and Population plans to begin issuing electronic visas for tourists entering the country through six additional locations.

Two Govt Colonial Buildings in Rangoon to Get New Owners by Year’s End

The Directorate of Investment and Companies Registration will announce the auction winners of two government-owned heritage buildings in Rangoon by the end of this year.

Record Haul in Jade Sales to Burmese Traders

Jade sales at a major gems emporium for local traders in Burma hit a record high, with 126 billion kyats worth of the gemstone sold.

Burma FDI Hits Full-Year Target in First 6 Months of 2014-15

Foreign direct investment into Burma exceeds the government’s original target just six months into the fiscal year, topping $4 billion through September.

Hilton and Eden Group Open Hilton Hotel in Naypyidaw

Hilton Group opens its first luxury hotel in Burma after completing an upgrade of a hotel in the capital owned by local conglomerate Eden Group.

Burma to Begin Rice Exports to NE India

Burma and India are finalizing a major rice deal, which will facilitate the export of 20,000 metric tons of Burmese rice into India every month.

Rangoon Tax Department Completes Annual Property Valuation

Rangoon Division’s Internal Revenue Department has completed its annual evaluation of real estate prices as part of its new property sales tax system

First KFC Restaurant to Open in Burma Next Year

American multinational Yum! Brands and Yoma Strategic Holding of Burmese businessman Serge Pun will open up the first KFC restaurant in Burma next year.

Tourism’s New Trails

The chairman of Myanmar Tourism Marketing talks about the industry’s underlying promise, and the growing pains that have accompanied it as the country opens up.

Burma’s Central Bank Awards 9 Foreign Lenders Operating Licenses

The Central Bank of Myanmar grants nine foreign banks permission to operate in Burma, with Japanese lenders winning a full third of the license bids.

Business With Bounce

The founder of one of the country’s leading manufacturers of mattresses talks about what it takes to succeed in Myanmar as an entrepreneur.

Next Rangoon Election to Bar 98.5% of Voters

Lawmakers approve restrictions that will allow only a tiny fraction of the city’s voting-age population to vote for the next deputy mayor and other municipal officials.

Ahead of the publication of anti-money laundering regulations, the Financial Intelligence Unit has encouraged reporting of large-scale transactions.

Britain Will Boost Aid to Burma by More Than a Third

The UK’s newly appointed minister for the Department for International Development announces another increase in development aid, up to $136 million next year.

‘Political Prisoners Are Like Plaster’

Artist Htein Lin talks about trying to visualize, through molding plaster hands, the extent to which Burma’s political prisoners have sacrificed for their country.

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.

Hope Fades in Burma Search for Buried Spitfires

A quest to unearth dozens of British Spitfire aircraft thought to be buried in Burma looks likely to come to an unsuccessful end in October.

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