In recent weeks there has been much attention focused on the debate and wrangling over the Right of Recall bill. The Union Election Commission had asked parliament to pass the bill the same day that Thura U Shwe Mann was removed as head of the Union Solidarity and Development Party. This prompted observers to wonder whether the party was planning a push to remove him as a member of parliament, or whether the bill would again be put into hluttaw limbo. Read more The upcoming election may be up to three months late in landslide-ravaged Chin State. While the official nationwide poll is just 66 days away, the Union Election Commission said it is mulling a request to delay voting in Chin State due to lingering effects of the floods. Read more Parliament office officials have promised to redouble e-security measures after their mail server was hacked by a group calling itself New Generation Wave in July. U Ko Ko Naing, director of the Pyithu Hluttaw Office, said Wednesday that a local company has been hired to improve the security of the server.Read more
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Myanmar has approved the overhaul of a circular rail system in its commercial capital, Yangon, in a step towards modernizing a city choked by traffic jams and under pressure from an influx of migrants lured by an expanding economy. The US$207-million (S$293 million) Japan-funded upgrade to the 48-km (30-mile) system will focus on technological improvements and buying new trains, carriages, engines and coaches, Ba Myint, an official of the Ministry of Rail Transport, told Reuters. Read more Australia's Tap Energy (M7) Pte. Ltd (Tap Oil), in a joint venture with Smart E&P International Company Ltd., signed the production sharing contract (PSC) with Myanmar Oil and Gas Enterprise (MOGE) at an official ceremony in Nay Pyi Taw on August 26, according to a statement released by the company. Read more Alphageo (India) Wednesday said its step down subsidiary has been awarded a $3 million contract for provision of 2D seismic acquisition services in Myanmar. "Alphageo DMCC, Dubai, a first level step down 100 per cent subsidiary has been awarded a contract for provision of 2D seismic acquisition services in Myanmar by CAOG Pte Ltd of an estimated value of USD 3 million," Alphageo (India) said in a BSE filing. Read more Burma's communications ministry will announce this month which local firms will comprise a consortium that will become the country's fourth and final telecoms operator, according to a ministry official. Chit Wai, deputy permanent secretary of Ministry of Communication and Information Technology, told The Irrawaddy on Wednesday that the winning bidders will be announced by the end of September. Read more Myanmar has delayed the launch of the country's first ever stock exchange until the first week of December for the general election scheduled in early November, the Finance Ministry said on Sunday. The planned Yangon Stock Exchange, or YEX, was originally scheduled to debut in October but was so postponed to make way for the country's upcoming general election set for Nov. 8. Read more The target opening date for Yangon's new international airport has been pushed back by another two years to 2022. The Hanthawaddy International Airport was first imagined in the early 1990s, but the project was put on hold in 2004. When discussions resumed in 2013, officials said it would be ready by 2016. Read more An increase in informal cash flows poses a challenge to domestic monetary market stability, leaving the kyat exposed to movement in international currencies, say experts. The capital accounts at domestic banks are controlled but there are a number of informal channels where foreign exchange flows can force the currency to move beyond the control of the Central Bank of Myanmar, said deputy governor U Set Aung. Read more The creators of a new bank to service the gems and minerals sector will apply for a licence this month, spokesperson U Thet Naing told The Myanmar Times. If licenced, the new bank will add to a number of sector-specific banks that have opened over the past couple of years, including the Construction and Housing Development Bank and the Myanmar Microfinance Bank. The Tourism Bank Public Company is also pending approval. Read more
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| - GDP - USD 59.4Bn
- GDP Growth - 8.5%
- Population - 51.41Mn
- Inflation - 8.39%
- Bank Deposit - 8%
- Bank Lending - 13%
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Sep-04 | 1,278.00 | Sep-03 | 1,278.00 | Sep-02 | 1,275.00 | Sep-01 | 1,273.00 | Aug-31 | 1,273.00 | Wk Change % | -0.39% |
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The Ronoc Myanmar Investors News Letter informs current and prospective Myanmar-related investment professionals on the recent business news highlights from Yangon, adding in-depth, contextualised analysis from the ground.
In addition to this News Letter, we also offer cutting edge Consulting and Advisory Services including bespoke Research Reports covering areas from industry specific, political, economic and investment analysis. Feel free to contact us to further discuss these opportunities. Sincerely, Oliver Belfitt-Nash |
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Ronoc is an investment and advisory firm established in 2007. We specialise in emerging markets, retail banking and have offices in New York, London, Dublin, Yangon and Ulaanbaatar. Through our extensive experience of working and investing in the emerging markets, we have developed strong local networks and tailored strategies for operating in challenging political and economic settings. Read More |
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