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Myanmar scales back Chinese-backed port project over debt fears

Myanmar has scaled back plans for a Chinese-backed port on its western coast, sharply reducing the cost of the project after concerns it could leave the south-east Asian nation heavily indebted, a top government official and an adviser told Reuters. The Kyaukpyu port is a key part of China’s ambitious Belt and Road initiative, aimed […]

ADB not worried about impact of technology on Myanmar jobs

Despite widespread automation of manual work functions, Myanmar jobs are not under “huge” threat by advancements in technology, economists at the Asian Development Bank (ADB) told the media during the organisation’s annual general meeting (AGM) in Manila on May 4. However, the government needs to monitor the impact of changing technologies on local jobs. Meanwhile, […]

Some businesses see positive impact from higher minimum wage

The Myanmar daily minimum wage has been set at K4,800, which is a rise of 33 percent from the K3,600 workers were drawing previously. The change was announced by the National Committee for the Minimum Wage on Monday. The change comes after months of negotiations between business owners and workers unions. Before the current wage […]

Collier Property Report – Yangon CONDOMINIUM Q3 2017

Affordability Remains Unadressed Over the last two quarters, the market has witnessed a slight uptick in demand following extensive pricing promotions for many projects. While this has buoyed overall sales take-up, Colliers sees the performance as temporary, and the strategy as financially unsustainable. We advise developers to look long term instead. Future projects should generally […]

HK: Myanmar Eyed as Source of Domestic Helpers Amid Surging Demand

Hong Kong is looking into importing domestic helpers from Myanmar to meet surging demand, Secretary for Labor and Welfare Law Chi-kwong said. It is all part of the government’s efforts to increase the sources of maids and lower the city’s reliance on the Philippines and Indonesia, Law said in a blog post on Sunday, adding that […]

Arroyo Toasts Leaders of Cambodia, Myanmar at Welcome Dinner in Clark

CLARK FREEPORT ZONE, Pampanga — Former President and now Pampanga Rep. Gloria Macapagal-Arroyo hosted on Saturday a welcome dinner for Cambodian Prime Minister Hun Sen and Myanmar State Counsellor Aung San Suu Kyi here just before the three-day Association of Southeast Asian Nations (Asean) Summit. The leaders landed at the Clark International Airport early in […]

Dilemma on minimum wages could lead to better productivity

Concern is rising among employers over demands that the minimum wage be raised to K4,800- K6,600 ($4-$5.20) per day from K3,600 per day currently. That’s a potential increase in wages of more than 80 percent, a move which, if implemented, could put many companies out of business. The Confederation of Trade Unions in Myanmar (CTUM), […]

Thailand’s PTT poised to gain from Myanmar deal

THAI and Myanmar officials will sign a memorandum of agreement at a meeting of Asean energy ministers next month that will take energy giant PTT a step closer towards a major gas project across the border. The singing of the agreement will pave the way for PTT to conduct a study on a Bt20 billion […]

Japanese joint-venture plans Yangon hotel

Hotel Okura Co Ltd said it would develop the luxury Okura Prestige Hotel with Ayeyar Hinthar Holdings Co Ltd in Yangon by 2020, with five more hotels due in the next five years. The company expects to sign a contract with Yangon Technical and Trading Co Ltd, a subsidiary of Ayeyar Hinthar, in August, working […]

Yangon lacking resilience to face future disasters

Nothing is normal these days when it comes to Myanmar’s weather. In Yangon, residents talk about a time when they used to wear sweaters or scarves in the colder months, when the early morning was crisp and people would exercise to stay warm. Not anymore. Yet, this rise in temperature is just a small indicator […]