The Myanmar Times
Saturday, 01 August 2015
The Myanmar Times
The Myanmar Times

Hitachi forms joint venture to make and export transformers

Japanese company Hitachi Industrial Equipment Systems (HIES) will invest US$45 million to build a transformer factory, through a partnership with local company Soe Electric and Machinery (SEM), said the president of Hitachi, Masakazu Aoki.

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Central Bank’s autonomy questioned with recent currency actions

The Central Bank of Myanmar’s intervention in the exchange rate bears the stamp of senior government officials, raising questions about its independence, according to experts.

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MPPE announces JV tender for petroleum business

Myanma Petroleum Products Enterprise (MPPE) has invited private companies to form a joint venture for a project in the petroleum industry, through a tender published in a state-run newspaper.

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Workshop calls for increase in responsible land investment

Against the backdrop of increasing scrutiny of private sector land investments worldwide, responsible land investment has been a hot topic in Myanmar, as the sixth draft of the National Land Use Policy is due to be finalised later this year.

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Banks face need to raise capital with law

Local banks may have trouble meeting stricter controls to be brought in with the new financial institutions law, sources say.

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Illegal car importers clogging the streets

If it seems parking spaces are harder than ever to find in Yangon, car importers may be to blame.

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Kunlong hydro project delayed over security concerns

The Kunlong hydropower project in northern Shan State has been delayed due to security issues, according to officials.

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Traders start treading as more people enter water business

Whereas Kandawgyi and Inya lakes may once have been the main sources of water for Yangon residents, it is now drawn from the ground or piped from reservoirs far outside of town – or is brought door-to-door by a legion of water deliverers.

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Farmers squawk over illegal poultry

Chicken  farmers are highlighting the dangers of smuggled imports from China, claiming the birds may put peoples’ health at risk.

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Bar revenues fall as curfew continues

Over the past six weeks, bars in Yangon have seen profitability fall by up to 40 percent, as an official 11pm closing time has been strictly enforced. Owners are concerned that this is likely to be tightened to 10pm and then as early as 9pm during the election period, though this is refuted by officials.

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