A Land Eager to Look Rich: Luxury Brands Edge Into Myanmar

YANGON, Myanmar — “Every man has a crazy hobby,” said U Thiri Thein Than, an automotive engineer from Yangon who also has a home in Tokyo. “For me, it’s cars and watches.” For years Mr. Thiri Thein Than, 40, has done his higher-end shopping overseas. But in March, he visited a boutique that the Swiss […]

Overseas Private Investment Corporation to Disburse $250 Million Investment in Telecom Tower Infrastructure Project

NEW YORK & SAN FRANCISCO & WASHINGTON & YANGON, Myanmar–(BUSINESS WIRE)–The Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution, today announced that it has commenced the initial disbursement of a $250 million loan to Apollo Towers Myanmar Limited, based in Yangon. The disbursement marks OPIC’s first financing in the country as well […]

Dealmaking excitement builds over beers in newly opened Myanmar

YANGON (Bloomberg) – A scorching May day in Myanmar calls for beers and loosened neck ties. At newly opened Harry’s Bar in Yangon, investors talk opportunities over draft lagers, jalapeno steak sliders and fries. Several private equity types and company executives are gathered around Ms Jasmine Thazin Aung, an energetic and bubbly Yangon-based executive director at […]

Brazil sugar flows to Myanmar seen rising as Indian exports abate

Brazilian low quality white sugar flows are expected to increase to Myanmar, believed to be a gateway for sugar smuggled into China, as Indian sweetener exports fall. Surging domestic sugar prices in India mean that Indian mills will increasingly spurn the export market, traders say. Availability of Thai sugar is also thin due to hefty […]

Myanmar’s mixed messages

“Just jump in any taxi and I’ll tell you what you’re going to see,” says John Lwin, the flamboyant founder of Star Event Production, a local company that has become something of a one-stop-shop for Myanmar’s fledgling fashion industry. “You’ll see a monk in a traditional orange tunic, teenagers wearing jeans, kids playing football wearing […]

Yangon more expensive for expats than Paris, Sydney or Abu Dhabi

Yangon became considerably more expensive for expats last year, compared with other cities around the world, according to Mercer’s annual Cost of Living Survey. Yangon, the only Myanmar city among the 207 that were surveyed, climbed 38 places from 66th overall in 2014 to 28th last year. Asia in general is becoming one of the […]

Gold rush slows ahead of elections

Bangkok (dpa) – When Myanmar began its political reforms in 2011, firms around the world salivated at the prospect of investing in the resource-rich and largely undeveloped country. But four years later there are signs that the rush to invest is being slowed by dragging market reforms and the country’s turbulent politics. Before 2011, Myanmar’s […]

Thailand, Myanmar kick start Mega Joint Familiarisation Trip

Bangkok, 18 May, 2015 – The Tourism Authority of Thailand (TAT) and the Ministry of Hotels and Tourism, Myanmar together with Bangkok Airways have announced the launch of the Mega Joint Familiarisation Trip between Thailand and Myanmar” project with an objective of promoting tourism products and services in Thailand and Myanmar to long-haul European and […]

Myanmar, ‘Golconda’ stones break records

A rare “pigeon blood” ruby has fetched a record $30.33 million (about Rs. 194 crore) at an auction by Sotheby’s in Geneva, while a rare pink diamond, which may have originated from the famous Golconda mines near Hyderabad, has been sold for $15.9 million (about Rs. 102 crore). At an auction of contemporary art in […]