Myanmar Insists no North Korea Links as U.S. Envoy Visits

Myanmar has no military ties with North Korea, a Myanmar official said on Monday, as a U.S. diplomat responsible for North Korea arrived for talks in which he was likely to seek assurances on efforts to isolate it.Ambassador Joseph Yun met Myanmar’s State Counsellor Aung San Suu Kyi and the military’s commander in chief in […]

World Bank to Loan $100 Million to Myanmar Financial Development Project

WORLD Bank and government representatives recently signed an agreement for a US$100 million (K134.9 billion) World Bank loan to the Myanmar Financial Development Project in mid-April. The representatives signed the loan for SDR71.700 million, which equals US$100 million, from the World Bank with low interest. Ulrich Zachau, country director, Southeast Asia, East Asia and Pacific […]

Myanmar Must Mitigate Risks Despite Favourable Growth: World Bank

ALTHOUGH Myanmar’s economic growth remains strong, it needs to address emerging challenges to macroeconomic stability, say World Bank economists.   Sudhir Shetty, the Bank’s chief economist for East Asia and the Pacific, said yesterday at a video press conference on the launch of the new “East Asia and Pacific Economic Update”, a report on the […]

Ahead of Suu Kyi visit, Obama weighs Myanmar sanctions relief

The United States is considering further easing or lifting sanctions against Myanmar around the time of a White House visit this month by the country’s new leader, Aung San Suu Kyi, U.S. officials told Reuters. President Barack Obama is expected to decide on the extent of the sanctions relief after consultations between Suu Kyi and […]

India, China, Myanmar should develop Stilwell Road: Chinese media

BEIJING: India, China and Myanmar should establish a joint dialogue mechanism to restore the Stilwell Road connecting the three countries to revitalise trade in the region, Chinese media said today. “The Stilwell Road was called the Ledo Road, but renamed after Stilwell at the suggestion of Kuomintang leader Chiang Kai-shek. Ledo, a small town in […]

UK, Japan help in Myanmar’s urban planning

YANGON – Both seek greater involvement in infrastructure investment The United Kingdom and the Japan International Cooperation Agency have agreed to cooperate in an urban development planning project targeting Mandalay, Pathein of Ayeyarwaddy region and Mawlamyaing of Mon state. The six-month data collection survey of the regional cities started in January. The team consists of […]

World Bank Pledges Ongoing Development Support for Burma

RANGOON — The World Bank’s vice president for East Asia and the Pacific pledged to continue development support for Burma, according to a statement released on Monday following a meeting in Naypyidaw with Aung San Suu Kyi. In the statement, Axel van Trotsenburg reaffirmed the World Bank’s strong partnership with Burma as it endeavors to […]

Oil prices, general elections weigh on Myanmar’s economy

SINGAPORE: The drop in oil prices and uncertainties surrounding Myanmar’s general elections later this year are weighing on the country’s economy, as it prepares to halt oil block auctions and braces for a drop in foreign direct investment (FDI). In an exclusive interview with Channel NewsAsia, Myanmar’s Union Minister for energy Zay Yar Aung says […]

ABB & Pact To Bring Solar Power To Rural Myanmar

A project engaging women to run solar battery charging stations could help provide reliable electricity to rural villages in Myanmar. The power and automation technology group ABB will partner with Pact Myanmar to bring electricity in the form of solar power to approximately 3,500 individuals from villages in rural areas of Mandalay, Central Myanmar. With […]

World Bank Injects a Shot of Electrical Power into Myanmar

Foreign investors appear hesitant to jump into Myanmar’s energy sector, given some of the problems faced particularly by Chinese companies and the setback posed by the halt on the US$3.6 billion Myitsone Dam project, plus an unclear investment playing field. But the World Bank is hoping their refurbishing of a gas turbine plant in southern […]