A labor dispute between the contractor and construction workers of the US$600 million Yoma Central mixed development project in downtown Yangon has been resolved, with all workers paid in full and issues regarding social security clarified with the authorities, Serge Pun, chair of Yoma Group, told the Myanmar Times. Around 2000 construction workers took to […]
Mandalay property sales spike due to low rates, strong currency
July 9, 2020 by
Despite the COVID-19 pandemic, pockets of demand have been emerging in the Mandalay real estate sector, said U Tin Maung, chair of the Myanmar Real Property Development Association. He said sales of properties priced at around K100 million-K300 million to Chinese nationals have risen in the wake of the pandemic as a result of lower […]
Beneficial-owner database lauded despite some weaknesses
February 10, 2020 by
Owners of major businesses or their close relatives who hold prominent public positions have so far not declared themselves as such, according to a Myanmar Times review of a new government database on beneficial ownership. The Directorate of Investment and Company Administration (DICA) recently published on its website the beneficial-ownership database for the Extractive Industries […]
Myanmar Times Co-Founder Ross Dunkley Jailed for 13 Years in Drugs Case
August 15, 2019 by
YANGON—After a trial lasting more than a year, Australian national Ross Dunkley, the co-founder of the Myanmar Times newspaper, and his compatriot John Mckenzie, a former IFC and World Bank adviser, were sentenced to 13 years in prison by a Yangon judge on Tuesday for violating Myanmar’s anti-narcotics law. The two foreigners were apprehended in […]
Corporate Japan urges Myanmar to address business concerns
December 10, 2018 by
The most senior Japanese business leader in Myanmar urged the government to recognise how liberalisation, efficient bureaucracy and reliable power supply allowed Thilawa Special Economic Zone (SEZ) to attract considerable investments. He also warned that current restrictions placed on foreign firms in the retail and wholesale sector are already “the maximum” but commended the ministry’s […]
Mangosteen PR, Dugro, Myanmar Times launch Myanmar’s first-ever moving photo release
December 4, 2018 by
The growing up milk brand, and Myanmar Times combined to launch the country’s first app-assisted photo release published in The Myanmar Times Daily on November 20, 2018. The video-photo release, a hybrid-media platform reminiscent of newspapers seen in Harry Potter movies, uses the iSmart Photo app—an online application that utilizes coding technology to identify a […]
First flight from Italy to Myanmar arrives tomorrow
October 31, 2018 by
An air link between Italy and Myanmar will be established starting tomorrow. Milan-based Neos Spa, an Italian leisure airline, will begin flying the route with a chartered Boeing 767 every Wednesday. The flight will stop over in Phu Quoc, Vietnam before landing at Yangon International Airport. Neos will be the first airline to fly from […]
Draft law for foreigner-only casinos in Myanmar: report
August 23, 2018 by
A bill that would authorise in principle the setting up of foreigner-only casinos in the Southeast Asia state of Myanmar was submitted to the lower house of the country’s legislature on Tuesday, the Myanmar Times newspaper reported on Wednesday. The Gambling Bill 2018 is said to include amendments to an existing statute, the Gambling Act […]
FMI ventures into affordable housing
August 3, 2018 by
First Myanmar Investment (FMI) will be investing in the affordable housing sector in a bid to offset falling revenue from its construction businesses, FMI chair Serge Pun said during the firm’s 26th annual general meeting, held at the Yangon National Theatre, on July 29. He said the domestic property sector has no demand as those […]
