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DagonKhan
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Citywide power outage causes traffic chaos
A citywide power outage this morning has caused traffic chaos in Yangon for commuters, some of whom were delayed more than an hour.
A spokesperson from the Yangon City Electricity Supply Board complaint centre said electricity was out for two to three hours from around 6am on the morning of September 15.
Continues here:- http://www.mmtimes.com/index.php/national-news/11659-citywide-power-outage-causes-traffic-chaos.html
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Chinese team withdraws from Kachin State rescue operation
A Chinese team that had offered to help find two missing climbers in northern Kachin State has abandoned the search from the Myanmar side after rescue coordinators told them they would prefer to work with a Japanese climbing team in the area.
The news came with bad weather continuing to hamper the search for the two missing Myanmar climbers, who ascended Hkakabo Razi, which is 5881-metres high, on August 31.
Continues here:- http://www.mmtimes.com/index.php/national-news/11665-chinese-team-withdraws-from-kachin-state-rescue-operation.html
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Tourist arrivals on track to surpass 3 million this year, minister says
Tourism arrivals have increased by about 40 per cent so far this fiscal year compared to the same period last year, and are expected exceed 3 million by the end of the fiscal year, according to the Ministry of Hotels and Tourism.
Almost 2 million tourists visited Myanmar between April 1 – the beginning of the fiscal year – and the end of August, tourism minister Htay Aung said. If this trend continues the number of tourist arrivals will easily surpass 3 million, compared to slightly more than the 2 million last who visited in the last fiscal year, he said.
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Central bank says it is still on track to grant licences to foreign banks this month
Between five and 10 licences will be granted to foreign banks to operate in Myanmar by the end of this month, Dr Set Aung, deputy governor of Central Bank of Myanmar, said on September 14, denying speculation that the bank was delaying the announcement.
“We said before that the announcement will be made in the third quarter of this year so the announcement will take place by the end of this month,” he said. He said rumours that the central bank was either delaying the announcement or scrapping the plan were unfounded as the central bank would make the announcement during the timeframe it said it would.
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Corporate banking moves ‘merely benefit cronies’
Foreign banks will only be allowed to provide financial services to foreign companies and domestic banks, while Myanmar’s estimated 70,000 entrepreneurs will not be allowed to obtain loans directly from them, Dr Set Aung, deputy governor of Central Bank of Myanmar, said on Monday.
He described this model of corporate banking as a “win-win situation”. He said it balances the needs of local entrepreneurs with protection for domestic banks that could be damaged by competition from foreign rivals.
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Myanmar Cuts Import Tax Benefits, Expands List of Mandatory JVs, Seeks Investors for SEZ
New legislation and other actions have seen the Myanmar government expand the list of business activities that require the formation of a joint venture (JV), cut import tax benefits for a variety of businesses, and announced that it is seeking investors for a new Special Economic Zone (SEZ) in Rakhine State.
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Myanmar Sees Foreign Investment Topping $5 Billion in 2014-15
A woman walks near Coca-Cola vehicles during rainfall in Yangon, Myanmar, June 4, 2013.
YANGON—
Myanmar has revised its forecast for foreign direct investment (FDI) to more than $5 billion for the fiscal year that began in April, a senior official said on Tuesday. This surpasses earlier expectations and is the result of new ventures in energy and telecoms.
Continues here:- http://www.voanews.com/content/reu-myanmar-sees-foreign-invetsment-topping-five-billion-dollars-in-2014-15/2451590.html
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PTTEP earmarks $3.3 bn for Myanmar Investment budget set till end-2018 as energy giant celebrates 25th year in neighbouring country
PTT Exploration and Production (PTTEP) will invest a total of US$3.3 billion (Bt106.4 billion) in Myanmar through to the end of 2018, president and CEO Tewin Vongvanich said after celebrating the listed company's 25th anniversary of successful operations in the neighbouring country.
Continues here:- http://www.nationmultimedia.com/business/PTTEP-earmarks-$3-3-bn-for-Myanmar-30243423.html
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Inferior Chinese Blue Sky mountain rescue team sent back
A Chinese Blue Sky mountain rescue team fetched by Htoo Foundation has been sent back for being unable to carry out rescue mission to be in search of an expedition leader and a manager of the eight-member mountaineering team who were missing while attempting to reach the summit of Mount Hkaka Borazi., according to a source of the Htoo Foundation on September 16.
“The Blue Sky team was not convenient to climb up the summit of the mountain, for that reason, the skilled mountaineers from Thailand and the United States of America have been offered again,” Information In-charge Kyaw Naing of Thabawa Khawthan, literally “nature’s call” Foundation said on September 16.
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Myanmar trip is a telling first choice for Prayuth Prime Minister Prayuth Chan-ocha might not have intended to send any signals when he decided to choose Myanmar for his first visit to a foreign country, but his choice says a lot.
Deputy Foreign Minister Don Pramudwinai explained that Myanmar was chosen because this neighbouring country holds the rotating chairmanship of Asean.
Continues here:- http://www.nationmultimedia.com/national/Myanmar-trip-is-a-telling-first-choice-for-Prayuth-30243450.html
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Yangon Mayor Issues Stern Warning to Illegal BuildersOliver Slow/MBT
Illegal building in Yangon, constructed without approval from the government, “will be dealt with,” which could include demolishing the structures, the city’s Mayor U Hla Myint warned at a session of the regional parliament.
Continues here:- http://mmbiztoday.com/articles/yangon-mayor-issues-stern-warning-illegal-builders
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Myanmar’s Oil and Gas Blocks: Contracts, Compliance and Licensing IssuesSoe Zeya Tun/Reuters
Myanmar is a fertile and resource-rich country strategically located in the heart of Asia. Although Myanmar has great potential for business investment, so far it remains a largely untapped market – rich in natural resources and a young population ready to work. According to proven records, Myanmar commands reserves of 50 million barrels of crude oil and 283 billion cubic meters of natural gas. However, figures provided by the national oil company, Myanmar Oil and Gas Enterprise (MOGE), estimate 226 million barrels of crude oil and 457 billion cubic metres of natural gas.
Continues here:- http://mmbiztoday.com/articles/myanmar-s-oil-and-gas-blocks-contracts-compliance-and-licensing-issues
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Yoma Strategic Finalises Major Asset Purchases
Proposes increase in land bank at the group’s Pun Hlaing Golf Estate (PHGE) and purchases operating rights in the Golf and Country Club at PHGE
Soe Zeya Tun/ReutersYoma Chairman Serge Pun poses for a photograph in his office in Yangon.Yoma Strategic Holdings Ltd said it will be boosting its diversified business portfolio in Myanmar with the additional acquisition of economic interests of land development rights (LDR) in its property development, Pun Hlaing Golf Estate (PHGE).
Continues here:- http://mmbiztoday.com/articles/yoma-strategic-finalises-major-asset-purchases
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Hong Kong: The Silent Investor in MyanmarShangri-LaSule Shangri-La is one of the most visible Hong Kong ventures in Myanmar.
This article is a part of Myanmar Business Today's special Hong Kong feature by our Hong Kong correspondent Gordon Wong.
Continues here:- http://mmbiztoday.com/articles/hong-kong-silent-investor-myanmar
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Malaysian Firm Makes Maiden Entry into Myanmar’s Property Market via Zaykabar
Malaysia-based Ho Hup Construction Co Bhd is set to make its entry into Myanmar’s lucrative property market through a joint venture with local conglomerate Zaykabar Co Ltd.
Continues here:- http://mmbiztoday.com/articles/malaysian-firm-makes-maiden-entry-myanmar-s-property-market-zaykabar
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Myanmar Relies on Foreign Investments to Draw Migrants, RefugeesThe Dawei SEZ in Myanmar's Tanintharyi region, May 15, 2012.
Myanmar authorities are banking on foreign investments to generate jobs in a bid to woo back some of the country’s nearly 10 million migrant workers from neighboring countries.
Continues here:- http://www.rfa.org/english/news/myanmar/migrant-workers-09152014175611.html
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Al Qaeda hopes to exploit the plight of Myanmar’s embattled Muslims
BANGKOK, Thailand — Myanmar’s Rohingya people have been hacked to death, driven from their homes and quarantined in grubby camps. Many are shrunken from malnutrition and disease.
But while most see their condition as a tragedy, Al Qaeda sees opportunity.
Continues here:- http://www.globalpost.com/dispatch/news/regions/asia-pacific/myanmar/140910/al-qaeda-exploit-myanmar-rohingya
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India-Myanmar ferry service to start next month
The proposed ferry service between India and Myanmar will commence next month that will facilitate cargo and passenger movement between the two countries.
Minister for Road Transport, Highways and Shipping Nitin Gadkari on Monday said the service will begin in October this year.
Continues here:- http://indianexpress.com/article/india/india-others/india-myanmar-ferry-service-to-start-next-month-nitin-gadkari/
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Almost 90% of border trade with China: commerce dept
Trade with China through the four border checkpoints accounts for more than 87 per cent of total border trade, and has surpassed US$2 billion so far this fiscal year, according to the department of commerce and consumer affairs.
From April 1 to September 5 the four checkpoints on the border with China have seen combined trade of 2.15 billion, which accounts for more than 87 per cent of all trade that passed through the 15 checkpoints on Myanmar’s borders with Thailand, China, India and Bangladesh. Total trade through the 15 checkpoints was slightly less than US$2.46 billion during the period, according to the department.
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Revered monk calls for end to lies in search for Dhammazedi bell
Dhammazedi bell search team leader San Lin should not lie when he releases information to the public about the search, a revered monk told a press conference yesterday.
Natsintaya Sayadaw Bhaddanta Panna Teja made the comment following reports that he was involved with San Lin in the effort to find the fabled bell.
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High-quality counterfeit bills spark calls for swift action from central bank
High-quality counterfeit bank notes have begun circulating in Myanmar, sparking calls for the Central Bank of Myanmar to move swiftly to deal with the crime before people find that the cash they hold is worthless.
Most of the counterfeit notes detected so far have been 5,000 and 10,000 kyat bills that are next to impossible to distinguish from genuine bank notes, according to banking officials who have examined the counterfeit currency.
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Sky train planned for Yangon, minister says
Construction of an elevated train will begin next year and it will follow the route the route of the existing train system used by about 100,000 commuters a day, Yangon Region transport minister Aung Khin told Weekly Eleven.
Continues here:- http://www.elevenmyanmar.com/index.php?option=com_content&view=article&id=7559:sky-train-planned-for-yangon-minister-says&catid=44:national&Itemid=384
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There's tons of crime and it happens everywhere, you just don't hear about it. Almost everyday I pass the paddy wagons loaded up to the brim transferring prisoners from police stations or whatever it is that they do. Visit a police station and the cells are full, seen that a few times myself. I was informed that the majority that were being held were there for stealing, I can actually believe that.
But the majority of the crimes are not violent crimes, and they rarely involve foreigners. There are few high profile cases like the Jap who got murdered at Inya Lake Hotel, but they are rare. Foreigners do get locked up, most of them are unbelievably stupid though and it would be very hard to argue that they didn't deserve it. I believe the vast majority of them get pardoned after a year or two and get deported anyway.
Burglary, theft, stealing in all it's forms is very common. Every Company here has problems with it and it is endemic. Just as government employees believe it's their right to fleece the public, employees see their employer as fair game. Foreign employers who feel that they're not subject to this are either naive or stupid. I personally know of two Companies here, one foreign and one local who had their safes emptied. One was the accountant, the other was the accountants assistant. One lost US$30,000, the other US$50,000.
I've been burgled three times at home, once I caught the guy jumping over the fence red handed, I still have one of his shoes.... I believe they were opportunists, one was caught and spent a year in prison, turned out he was the son of a builder doing some work for me and decided to steal the outdoor a/c unit. Believe it or not, it was the police who actually caught him and the trishaw driver he hired to transport it whilst they were doing their rounds!
But violent crime? No, not really. If I think of the fights I have witnessed, I think most of them have occurred around Thingyan, almost all of them have involved alcohol. Having said that, there are certain parts of Yangon where violent crime is an issue, Hlaing Tharyar would be a classic example.
Bottom line, I feel far, far safer walking around Yangon than I do Bangkok. I also feel far safer in Yangon than I do in certain cities back in the U.K. I think I would go for number 2 Phazey, not because it's censored, it's just not reported by the media because it's not newsworthy.
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Citywide power outage causes traffic chaos
in Myanmar News
Posted
I was actually wondering why there was less traffic!