SBI becomes first domestic bank to open branch in Yangon

Mumbai: The State Bank of India today announced its entry into Myanmar by opening a branch in the capital city of Yangon, becoming the first domestic lender to do so. The Yangon branch is the 54th foreign branch of the nation’s largest lender, chairperson Arundhati Bhattacharya, who opened the office, said in a statement here today. […]

Building Indian pharma links

Dr Zaw Moe Khine specialises in importing medicine. Myanmar does not produce most varieties it needs, and so Dr Zaw Moe Khine looks abroad to places like India for sources. A large export industry is established in India, and its players are keen on supplying foreign markets, like Myanmar. “Indian companies have their own factories, […]

Reliance Industries signs PSC with Myanmar Oil & Gas Enterprise for two offshore blocks

MUMBAI: Reliance Industries has signed a production-sharing contract with Myanmar’s state-owned Myanmar Oil & Gas Enterprise for two offshore blocks that it bagged through competitive bidding in 2013, the Indian energy major said in a statement late Tuesday. Billionaire Mukesh Ambani-led Reliance Industries will be the operator of the blocks with a 96% participating interest. […]

Myanmar opens online exchange; move set to benefit Indian importers

Mumbai, April 1: Myanmar, one of the largest exporters of pulses to India, has opened its first ever online commodity exchange Multi Commodity Exchange (MICEx). The exchange, which will be open 23×7, has partnered with SLCM Ltd, the wholly-owned subsidiary of Indian company Sohanlal Commodity Management, an accredited preferred warehouse service provider for tur, urad […]

India Sun Pharma eyes investing in Myanmar

Sun Pharma, a global pharmaceutical company headquartered in Mumbai, has discussed plans to invest in Myanmar during meetings with authorities in Nay Pyi Taw on June 25, according to the Ministry of National Planning and Economic Development. Sun Pharmaceutical Industries Ltd is one of the biggest pharmacy companies in India, manufacturing 500 kinds of products […]