The State Bank of India (SBI) is to become the fourth Indian bank to open a representative office in Myanmar and may be joined within the year by Punjab National Bank, which has reportedly applied for a licence.
Singapore Windsor Holdings has signed a 10-year agreement with DFS Group to develop and operate duty-free retail outlets at Yangon International Airport and Nay Pyi Taw International Airport.
Energy demand in Myanmar is rising fast. The country is abundantly rich in natural energy resources, but the investment of capital and technology will not be able to unlock these resources in time to fulfill the growing need for power.
More than two years into the slump, jade prices show no sign of recovery at Mandalay’s Maha Aung Myay jade market. Though some traders say they have made small profits, many others are holding back their stock to avoid selling at a loss.