Jade Curse Tests Post-Sanctions Myanmar

Its embrace can bring wealth beyond measure, or instant death. It is a magnet for the most impoverished migrant workers and the most ruthless exploiters. Its haunts are a cauldron of armed conflict beyond the law of the land. In what could be one of its most challenging tests, how will Myanmar’s democratic government deal […]

Myanmar’s Film Industry Gears up for a Sequel

YANGON — With turquoise columns propping up a pink and yellow portico, Myanmar’s art deco style Thwin cinema is a rare relic from a golden age of movie-making that dazzled audiences more than half a century ago. Myanmar’s film industry, once the most vibrant and prolific in the region, shrivelled under a military regime that […]

Myanmar scraps law used to silence dissent

YANGON: Myanmar on Tuesday (Oct 4) scrapped a law used by the former military government to silence political activists, which threatened jail for anyone who endangered public morality or execution for damaging telephone lines. The Emergency Provisions Act, passed in 1950 after Myanmar won independence from Britain, became the military’s weapon of choice to silence […]

From ‘invisible’ to man in Myanmar spotlight

Tall, soft-spoken and almost self-effacing, Mr Htin Kyaw will on Wednesday be the focus of a handover ceremony in Naypyitaw. The next day, the 69-year-old will assume his duties as Myanmar’s first civilian president since 1962, and will preside over a fractious and volatile country in a still-fragile experiment with democracy. Pundits and the media […]

Digicel’s Myanmar deal adds to Islamic finance landscape

May 5 Cellular operator Digicel Group Ltd has obtained $60 million in sharia-compliant financing for its Myanmar venture, helping widen the reach of Islamic finance transactions as the sector continues to expand into new markets. Islamic finance has seen a string of landmark deals over the past year, with debut sovereign Islamic bonds (sukuk) from […]

Myanmar 2014/15 FDI swells to $8.1 bln – govt agency

(Reuters) – Foreign direct investment (FDI) into Myanmar has soared to more than $8 billion this fiscal year, $3 billion more than anticipated, owing to increased activity in the energy, manufacturing and telecoms sectors, a senior official said. The investments reflect growing if cautious foreign interest in one of Asia’s last remaining untapped markets, which […]

Energy giants win Myanmar offshore oil and gas blocks

YANGON: Myanmar named energy giants Chevron, Shell and Total among the winners Wednesday of a landmark auction of offshore oil and gas exploration rights, pinning hope on its natural resources to drive economic growth. The country, left impoverished by nearly five decades of isolation under military rule, has been the subject of feverish interest by […]

Tourism investment on the rise

Ministry of Hotels and Tourism has granted permission to build at least 923 hotels in late 2013 and international community is eyeing to invest in Myanmar tourism industry according to the Ministry. Among those interested in are majority from Asian countries. Some European countries have also expressed interested in the business. Many are making contact […]

Foreign investment in Myanmar increases: DICA

Foreign investment in Myanmar has exceeded US$ 43 billion (Ks 41.8 trillion) as nine countries including Britain and France have made new investments in the past month, according to the Directorate of Investment and Company Administration (DICA). The new investments, worth more than US$ 53 million, were made in the period from August 31 to […]

Bomb fallout hits tourism sector

Hotel and tourism-reliant businesses have begun to feel the fallout from the bombings in Yangon and across the country last week, including one at Traders Hotel, while others in the private sector are concerned about lasting damage to tourism as the country approaches the high season. With a dozen bombs found or exploded last week, […]