Business / Trade


The estranged wife of Burma’s best-known ‘crony’ Tay Za has been removed from The United States Treasury’s list of Special Designated Nationals, known commonly as the “US Blacklist”.
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A dozen young women sit on the curb outside a garment factory in Hlaing Tharyar township, holding brightly coloured umbrellas as shelter from the midday sun.
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The U.S. Treasury Department removed sanctions on the wife of a Myanmar businessman, a deceased former Myanmar premier and on three men who were indicted in international court for atrocities they allegedly committed in the former Yugoslavia.
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Proceeds from an annual gems emporium in Myanmar that ended this week fell 63 percent from last year to $1.26 billion, with sales suppressed by limited supply due to fighting in the mineral-rich Kachin state bordering China.
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While some importers follow the rules and set up their own lots, others simply park their wares in empty spots on the street or other public areas until they are able to make a deal.
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Majority Leader Mitch McConnell took to the Senate floor Thursday morning to express frustration about the pace of change in Myanmar.
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A land dispute at the site of a gold mine in Yay Htwat village in Mandalay Division’s Thabeikkyin Township turned violent on Monday, leaving small-scale miners and police injured, including a 50-year-old man who was allegedly shot in the knee, according to local eyewitnesses.
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Following months of public outcry, the government announced on state television Tuesday night that five planned developments in Rangoon will be cancelled.
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The Pyidaungsu Hluttaw yesterday backed corporatisation of power supply boards in Yangon and Mandalay, in a shake-up aimed at reducing running costs and the national budget deficit.
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FPT, Vietnam’s leading technology company, said on Wednesday it has secured a licence to provide fixed telecoms and internet services in Myanmar, becoming the first 100-percent foreign-owned firm to operate in the field there.
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Officials from the Democratic Karen Benevolent Army are set to meet state government representatives in the Kayin State capital Hpa-an today to negotiate an end to recent skirmishes along the Asian Highway.
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Yangon has higher living costs for expats than Paris and Sydney, according to Mercer’s Cost of Living Survey 2015. But this is largely due to a major discrepancy between the living choices made by expats and locals, according to local businesspeople.
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Mandalay gold dealers are seeing their business complicated by the difficulty determining the daily kyat-dollar exchange rate, with dealers working to avoid too much volatility in price.
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Poultry farmers need official permission to classify land for poultry farming, which is hindering expansion of the business, according to an official from the Myanmar Livestock Federation.
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Myanmar’s garment manufacturers have signalled their opposition to a proposed national minimum wage of just over US$3 (S$4.05) per day, claiming the increase it represents could force some factories in the vital economic sector to close Asiaone Business reported on 6 July.
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Japan, Myanmar, and Thailand have signed an agreement for the mutual development of the Dawei Special Economic Zone in Myanmar, IHS Maritime reported on 6 July.
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Big beer’s latest quest for growth has Heineken NV on a collision course with Carlsberg A/S in Myanmar according to a report by Bloomberg Business on 6 July.
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A second trade union has spoken out about the proposal for a 3,600-kyat (US$3.60) minimum wage in Burma, this time the All-Myanmar Network of Trade Unions, which has rejected the offer and called on workers to be prepared to take to the streets in protest.
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Singapore was Myanmar’s top overseas investor in 2014, accounting for more than half of the over US$8 billion in total inflow, which had doubled from US$4 billion in 2013, according to a report in the China Post on 6 July.
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Myanmar’s garment manufacturers have signaled their opposition to a proposed national minimum wage of just over $3 per day, saying the increase could force factories in the vital industry to close.
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