Myanmar’s oil import infrastructure building picks up pace as demand rises

Myanmar is looking to build a slew of new oil storage terminals and jetties near its former capital Yangon as its small and ageing refineries cannot keep up with rapidly rising demand for refined products. The lifting of several international sanctions in 2012 has led to a sharp rise in cars being imported and sold […]

United Amara frets bank run as owner’s father blacklisted

United Amara Bank has moved to head off a potential bank run after U Aung Thaung, father of its majority owner U Nay Aung, was placed on the US blacklist. U Aung Thaung is a former Minister of Industry and a sitting member of parliament. The United States Treasury placed him on its blacklist on […]