Japan's finance minister Koriki Jojima told finance chiefs and central bank governors of the Group of Seven industrialized nations on Thursday that Japan will extend new Japanese yen loans and as earlier agreed with Myanmar will move ahead next year with clearing its sizable outstanding debt to Tokyo.
YANGON, Oct 11- Holy water is sprinkled over a new Honda sub-compact festooned with flowers and red ribbons. The Honda's owner, Nyein Chang Aung, hopes the blessing will protect him from accidents in a country with some of the world's most treacherous roads. As Myanmar opens up, its antiquated transportation system is undergoing dramatic change.
WASHINGTON-- President Barack Obama is lifting the U.S. restriction on international financial institutions like the World Bank lending to Myanmar to reward its progress toward democracy. Late last month, Congress passed legislation allowing the president to end the automatic U.S. block on lending by institutions also including Asian Development Bank.
The Silk Road Yangon Property Index, which measures the average price per square foot of residential property in Yangon, the commercial capital, rose 39 percent in the first nine months of the year.
TOKYO, Oct 9- The Asian Development Bank is crafting a preliminary aid plan for Myanmar, which will be extended on condition that the country solves its debt problem, the bank's president Haruhiko Kuroda said on Tuesday.
TOKYO, Oct 9- Suzuki Motor Corp is considering investing several billion yen to build a car assembly plant in Myanmar by 2015, eyeing a growing market there, the Asahi newspaper said on Tuesday. The Japanese carmaker hopes to build a plant with annual capacity of 20,000 to 30,000 cars in a planned industrial complex at Thilawa, close to Yangon, the Asahi said.
Petroliam Nasional Bhd is considering oil well explorations off the shores of Sri Lanka, possibly near the Palk Straits and the Mannar Basin bordering India and the island state.
----PREVIOUS ITEMS: Axiata in Myanmar telecoms race-The Star----.
Taiwan's EVA Airways recently announced it will begin Yangon- Bangkok- Taipei flights on Oct. 19. Deputy Director of Civil Aviation Nweni Win Kyaw told The Associated Press several other airlines have recently announced direct flights to Yangon, including Korean Air, Japan's ANA and Germany's Condor.
MANILA, Oct 3- The Asian Development Bank released its revised 2012 outlook for 45 economies in developing Asia, which spans the Pacific to Central Asia. Central Asia: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan. South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka.
NEW VENTURE: Alisher Ali opened Myanmar's first-ever investment bank with $1 million of his own money. By the time Mandalay Capital closed its fundraising last month, Ali had raised $25 million.
Singapore shares rose after a surprising expansion in factory activity in the United States, with traders buying small and mid-cap stocks such as Tiger Airways Holdings Ltd and firms with exposure to Myanmar. The Straits Times Index was up 0.5 percent at 3,072.96 points, while the MSCI index of Asia-Pacific shares outside Japan added 0.3 percent.
UOB Kay Hian raised its target price on Super Group Ltd. 11:38 STOCKS NEWS SINGAPORE- Singapore Q3 home prices rise on mass-market growth. Singapore's private home prices in the third quarter rose 0.5 percent from the previous quarter, data from the Urban Redevelopment Authority showed, making it the highest rate of increase so far this year.
In a dimly lit ballroom, Myanmar’s investment czar gushed about his nation’s dazzling future to a congregation of foreign investors. Each had paid $1,500 to hear the government’s big pitch: Long an economic basket case, Myanmar is now an investment gold mine.
In a country where reportedly a quarter of the population lives in poverty and 70 percent live without electricity, a bubble sounds like an odd way to describe what is happening in a part of Myanmar. If the ultimate trophies for international investors are the nation’s rich resources, such as natural gas, tungsten and gems, let’s just call it a gold rush.
The lifting of Western sanctions on Myanmar, after it ended nearly 50 years of direct military rule, has pushed the door wide open for foreign investments into this resource rich country.
Many people tell me they want to visit this land of architectural wonders before hordes of others do during Myanmar’s awakening.
As Myanmar continues to remake itself anew, the country’s perplexing and outmoded laws of commerce are beginning to become more sensible. Among the more confounding laws govern car sales.
Aung San Suu Kyi, Myanmar’s Nobel Prize-winning opposition leader, will soon be able to sip a Coke in her own country. The FT reports.
Kevin Hewison, Visiting Professor at the Singapore Management University and Andrew Rickards, CEO, Yoma Strategic Holdings discuss Myanmar's prospects and challenges as the country opens its doors economically and politically.