US Blacklists Myanmar Lawmaker Aung Thaung ahead of Obama’s visit

WASHINGTON — The U.S. Treasury on Friday blacklisted a hard-line lawmaker of Burma’s ruling party, accusing him of undermining political and economic reforms. Human rights activists step welcomed the action against Aung Thaung, who was industry minister under the former ruling junta and a leader of a pro-military organization blamed for mob attacks. His family […]

Myanmar to reap 10% from Thanlwin hydropower project

Local conglomerate IGE Company plans to sign a joint venture with Hydrochina Corporation to build a 1200 megawatt hydropower project on the Thanlwin River, according to the Ministry of Electric Power. The Naungpha hydropower project will eventually distribute 90 percent of the electricity to China while Myanmar will only receive 10 percent, over which it […]

Myanmar to amend 23-years old financial institutions law

Myanmar will soon amend its 23-years old financial institutions law, according to officials at a recent press conference. The conference was held on October 5 at the office of the Myanmar Banks Association. “The law is too old as it was enacted in 1990. That’s one reason. And the country has made many changes in […]