China-led AIIB approves $320 mln in loans to Pakistan, Myanmar power projects

The China-led Asian Infrastructure Investment Bank (AIIB) approved loans totalling $320 million to energy projects aiming to ease severe power shortages in Myanmar and Pakistan, the bank said on Thursday. A $300-million loan will fund expansion of a hydropower project in Pakistan, co-financed with the World Bank, and a loan of $20 million went to a power plant in Myanmar co-financed with other lenders, […]

Laos to share hydropower development expertise with Myanmar

VIENTIANE, Aug. 13 (Xinhua) — A hydro-electric-powered energy revolution has been afoot in South-East Asia over recent years with the movement of fresh and fast-flowing waters increasingly fueling the consumption of larger amounts of energy resources to spur socio-economic development, poverty reduction and improvements in both urban and rural areas. The region’s most diminutive nation […]

Maligned private Malaysian visa centre will not be terminated

One Stop Center (OSC), a Malaysian visa application service, will not be terminated unless the Malaysian government comes up with a better plan for handling illegal migrant workers, Malaysian ambassador to Myanmar Mohd Haniff Abd Rahman told The Myanmar Times on August 12. “The main reason is that security for our country is very important to us,” […]

Local firm plans Daewoo bus factory in Yangon

Myanmar Coach Centre, the local distributor for Daewoo buses, plans to build a factory in Yangon that could start producing coaches and city buses by 2018, its managing director said. The company, which sells minibuses and coaches for tours, imported 15 Daewoo city buses earlier this year for Yangon’s Bus Rapid Transport (BRT) system, the […]

Telenor Group reports second quarter results, Myanmar growth

The Norway-based Telenor Group has reported positive second quarter results including continued growth in its mobile phone outreach in Myanmar, a country in the throws of a communication revolution after decades of military regime rule. Telenor and Ooredoo are the two main players competing in the largely virgin Myanmar market, helping everyone from farmers, to […]

Western Union launches outbound money transfer service in Myanmar

WESTERN UNION, a global payment services provider, has launched Myanmar’s first outbound money-transfer service, three years after launching inbound services. Patricia Riingen, the firm’s senior vice president for Southeast Asia and Oceania, said the target consumers would be people aged from 25 to 60 who are active on social media and have international exposure (either […]

Myanmar deal to expand Axiata’s tower business

JUST over two years after it failed in its bid to secure one of the two mobile operating licences up for grabs in Myanmar, Axiata Group Bhd has found another route to the region’s last underpenetrated telecommunications market that could help lift its earnings in the coming years. What’s more, Axiata’s entry into Myanmar — […]

Telenor keeps 2015 outlook with Myanmar gains, stable Norway

Norwegian mobile phone operator Telenor(TEL.OL) reported second-quarter earnings a touch below expectations on Wednesday but kept its full year revenue and margin guidance and said its rapid growth in Myanmar continued. Telenor said its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 11 percent to 10.57 billion Norwegian crowns ($1.30 billion) compared to expectations […]

India Says China Using Myanmar and Pakistan to Expand Foothold

(Bloomberg) — China is using its influence in Myanmar and Pakistan to strengthen access to the Indian Ocean, India’s Defense Ministry said in its annual report, vowing to take steps to ensure security in a region it has long dominated. “India remains conscious and watchful of the implication of China’s increasing military profile in India’s […]

MyanmarCarsDB Pulls Ahead With Frontier Digital’s Investment

Humble founders of digital startups can take heart: Just because a deep-pocketed foreign company plants web stakes in a less developed country doesn’t necessarily spell doom for the little guy. There’s a significant proviso, though, that wasn’t true a decade ago: the first mover startup needs to attract generous angel investors pretty early on. Despite […]