Myanmar official says ‘totally underestimated’ economic impact of Rohingya crisis

A Myanmar foreign investment official said on Wednesday he “totally underestimated” the economic damage of the Rohingya crisis, adding that the outcry over the jailing of two Reuters reporters would also have some impact on his country’s reputation. Asked at an investor forum in Singapore what impact the crisis had on Myanmar’s economy and investment, […]

Myanmar Hopes to Double Electricity Capacity by 2021

YANGON: Myanmar is planning to double its electric power capacity by 2021 by building natural gas-fired power plants, two senior officials told Reuters on Wednesday, in an ambitious move to tackle chronic power shortages in the energy-starved country. With only one-third of the country’s 60 million people connected to the electrical grid and cities experiencing […]

Woodside Bullish On Australian Pluto LNG Expansion Prospect

MELBOURNE, Jan 18 (Reuters) – Woodside Petroleum expects to reveal plans for expanding its prized Pluto LNG project and connecting it to the North West Shelf LNG complex soon, its chief executive, Peter Coleman, said on Thursday. Talks with the owners of the Scarborough gas resource off Western Australia, led by ExxonMobil Corp, as well […]

Myanmar President Calls for Reform of Nation’s Military-Drafted Constitution

YANGON (Reuters) – Myanmar’s civilian president called in an Independence Day speech on Thursday for reform of a military-drafted constitution and for justice for all recognized minorities under a federal system, but made no mention of the treatment of its Rohingya Muslim people. Amending the charter to remove a dominant political role for the military […]

Myanmar Says U.S. Sanctions Against General Based on ‘Unreliable Accusations’

(Reuters) – Myanmar “feels sad” over a U.S. decision to sanction a military general, a government spokesman said, after Washington linked the commander last week to abuses against the Rohingya Muslim minority. “This targeted sanction is based on unreliable accusations without evidence, as we have repeatedly said, so we feel sad for that,” Zaw Htay, […]

Myanmar to Delay Law That Would Have Allowed More Foreign Investment

YANGON (Reuters) – Myanmar will delay a long-awaited reform that would open the door further to foreign investment, two officials told Reuters, a move likely to disappoint cash-starved businesses amid growing doubts over the management of the economy by the country’s leader, Aung San Suu Kyi. The postponement of the corporate reform, which would have […]

US has opportunity to solve Myanmar’s energy dilemma

Unable to meet soaring domestic demand for energy, Myanmar’s government is said to have entered preliminary discussions over a deal to buy electricity from China. At the beginning of this month, sources close to the talks told Reuters that three state-owned Chinese companies had submitted proposals outlining how they could help Myanmar fill its widening […]

Grab Commits S$136m to Expand in Myanmar

SINGAPORE (REUTERS) – Ride-hailing firm Grab, the main South-east Asian rival of Uber Technologies, said it would commit US$100 million (S$136.2 million) over the next three years to strengthen its presence in Myanmar, grow to more cities and roll out its other services. Grab said it wanted to launch its payments platform, GrabPay, and build […]

Myanmar Shuffles Energy, Finance Officials Amid Slowing Growth

Myanmar has replaced its minister for energy, state media reported on Wednesday, as Aung San Suu Kyi’s administration looks to address concerns that the enactment of vital reforms has been slow since she took power last year.The government also appointed a new deputy finance minister and confirmed three new central bank deputy governors this week. […]

China in Talks to Sell Electricity to Myanmar Amid Warming Ties

YANGON (Reuters) – Energy-hungry Myanmar is in initial talks to buy electricity from China, according to officials and documents reviewed by Reuters, in the latest sign of warming ties with Beijing under leader Aung San Suu Kyi. Since taking office in April last year, Suu Kyi has sought to repair relations that were strained when […]