China freezes bank accounts of Myanmar companies

Three banks in Yunnan Province, China froze the bank accounts of over 100 Myanmar companies engaged in border trade last week over possible links to illegal internet gambling and smuggling, prompting swift action from the Union Minister for Commerce to try and reopen the accounts, according to officials in China and Myanmar. The frozen accounts […]

Myanmar signs MoU with South Korea for a 500-megawatt power plant

Myanmar has signed a memorandum of understanding (MoU) with South Korea to build a 500-megawatt power plant which will use natural gas and garbage to generate power. The signing ceremony was held between Myanmar’s Hexa International Company and Korea Western Power jointly with Korea Electrical Manufacturers Association on September 3 at Sedona Hotel in Yangon. […]