Myanma Insurance paid out over K200 million yesterday to policy holders who suffered fire damage in two recent blazes, taking its total fire insurance payouts to twice that of last fiscal year, an official at the firm said.
Vietnamese developer Hoang Anh Gia Lai has started building the second phase of its landmark Myanmar Centre, which will include two office towers and five residential towers including serviced apartments and units for sale.
The agriculture ministry has advised farmers in Mandalay to plant summer paddy only in areas that are guaranteed a water supply and to cooperate in preparation for the weather patterns generated by the 2015-16 El Niño.
Investment and advisory firm Andaman Capital Partners is working with the Sagaing Region government to find commercial opportunities for solar power, with a view to securing a 450-acre site and generating up to 80 megawatts of electricity.
Fisheries exporters fear that the powerful El Niño that built up in the Pacific region over the past few months could result in a shortage of water and raw materials and rising prices across the industry.
Foreign bank branches operating in Myanmar for almost a year have proved slow to support local lenders although they have brought others benefits, said financial industry sources.
Reports from parliament yesterday morning revealed that President-elect U Htin Kyaw’s government hopes to slash the number of ministries in a shake-up that would create two mega-economic ministries and do away with the controversial Ministry of Mines.
Myanma Petrochemical Enterprise has cancelled an invitation to foreign investors to help upgrade an ageing liquefied petroleum gas (LPG) plant in Ayeyarwady Region after receiving no proposals before the deadline.