fbpx

Thai, Myanmar Hotel Operators Sign MOU for $63 Million Project KMA

Myanmar-owned KMA Hotel Group has signed a Memorandum of Understanding (MOU) with one of Thailand’s largest hotel and resort operators, the company has announced, to partner on a US$63 million (96.86 trillion kyat) investment in several new and existing hotels throughout Myanmar. Centara Hotel and Resort, a subsidiary of Thai conglomerate Central Group of Companies, […]

In jungles of Myanmar, sin city looks to a better future

Upon cruising on its wide, well-paved streets, the first question that enters a visitor’s mind is whether the city is still part of Myanmar. Past the lush green mountains where the concrete roads snake through the hinterlands, past what seems like never-ending rice fields, lies the concrete jungle of Mine Lar city, popularly known as […]

Petrol prices anchored by strengthening kyat: officials

The strength of the Myanmar kyat has been a key factor in helping go stabilise local petrol prices at a time when global oil prices have become increasingly volatile. Since the start of the year, oil prices have risen on the back of US sanctions on Iran, a major oil-producing nation. As fuel is mostly […]

Sino Great Wall: Crashing out on the belt and road

Mottama Holdings invited journalists to a high-profile “topping-out” ceremony for its M Tower project, a 26-storey office building near Hledan junction in Yangon that used prefabricated steel structure from the company’s factory in the city. After putting in place the final steel beam – complete with gold-coloured bolts – more than 100 metres above Pyay […]

New sustainable rice project to guard Myanmar’s rice sector against climate change

Nay Pyi Taw, 10 May 2019 – A new initiative will introduce sustainable rice-growing practices to farmers across Myanmar, with the goal of reducing vulnerability to climate change and natural disasters, project partners announced today. The Climate Smart Rice Project will introduce sustainable standards and best practices to 4,000 smallholder farmers around Mandalay, southern Shan, […]

Myanmar state counselor calls for working with private sector to achieve development goals

YANGON, May 11 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has called for working together with the private sector to achieve the country’s development goals, while ensuring the maintenance of a responsible and sustainable business environment. In her video message on the occasion of the Yangon Region Investment Forum 2019, which began on […]

Rubber exports expected to rise as production improves in Myanmar

Myanmar is expecting to export around 300,000 tonnes of rubber this year on the back of rising production at local plantations, U Khaing Myint, secretary of the Myanmar Rubber Planters and Producers Association (MRPPA) said last week. This is more than the government’s estimates of 260,000 tonnes this year, he said. Rubber exports have been […]

New Terminal Construction to Begin with Port Traffic Expected to Rise Shipping

Adani, registered in Myanmar and incorporated in Singapore, will develop a new international port container terminal in Ahlone township, on the Yangon River in Myanmar’s commercial capital, with expectations of increased container traffic in Myanmar in the coming years. Adani Myanmar was granted permission by the Myanmar Investment Commission (MIC) in late April to develop, […]

CB Bank, Telenor launch new Visa card

Telenor Myanmar, CB Bank and Visa last week launched a new CB-Telenor Visa card in Myanmar, days after the Central Bank of Myanmar on April 24 raised annual credit card interest rates to 20pc from 13pc to put a lid on runaway credit card debt. Nevertheless, the companies believe this will appeal to a growing […]

More FDI expected in power sector in five years

Myanmar’s power sector will spearhead growth in the infrastructure industry and draw the bulk of foreign direct investments (FDI) over the next five years, Fitch Solutions Macro Research said in a report released April 23. With just 40 percent of all households enjoying access to electricity as at September 2017, which is amongst the lowest […]