Frustration mounts as Kyaukphyu port negotiations stall

Kyaukphyu’s Chinese investors have hit back at criticisms over their majority stake in a proposed deep-sea port in Rakhine. They emphasised that it was the Myanmar government who drew up the shareholder structure and that the ball is in Nay Pyi Taw’s court to break the inertia and move the negotiations forward. Kyaukphyu is the […]

Yangon-Mandalay railroad to be upgraded with Japanese loan

NAY PYI TAW—The Japan International Cooperation Agency (JICA) will lend 20 billion Yen (Ks 192.4 billion) to the Myanmar government to upgrade the Yangon-Mandalay railroad, Minister for Rail Transportation Than Htay told a parliamentary session on Tuesday. The interest rate for the loan is set at 0.01 percent and is repayable in 40 years with […]

Parliament confirms appointments at Central Bank

Myanmar’s Parliament has confirmed the appointment of members of the Central bank governing body, including the new chairman. Kyaw Kyaw Maung, who previously served as chairman of the Central Bank from 1997 to 2007 under the military regime, was reappointed. Current chairman Than Nyein and former director Khin Saw Oo are to be repositioned as […]