Myanmar State Pharmaceutical Factory Official Arrested on Corruption Charges

YANGON— Myanmar’s Anti-Corruption Commission (ACC) opened a case on Friday against the general manager of Burma Pharmaceutical Industry (BPI), a state-owned pharmaceutical factory in Insein, Yangon region, charging him with bribery over alleged improper purchasing of raw materials for the factory. According to an official from the ACC office in Yangon, the commission found that […]

China, Myanmar look into railway project linking Muse to Mandalay

China and Myanmar are looking into the feasibility of building a railway line from their border to the city of Mandalay, four years after a high-speed project was shelved. Two state-owned companies, China Railway Eryuan Engineering Group and Myanmar Railways, signed an agreement on Monday to begin the study on a proposed rail line from […]

Ponzi Scheme Takes Millions From Rural Myanmar

In the wake of My­anmar’s most wide­spread and finan­cially devastating ‘Ponzi scheme,’ millions of dollars have been lost, thousands of people de­frauded, and a myriad of ministries left pointing fingers. In December 2016, Sax­on Capital Limited (SCL) began selling shares to residents of Pyay, Bago, Mawlamyine, and other townships promising an 80 percent return on […]