Securities Exchange eyes 2015 launch

13 May, 2013
Economy
A new securities and exchange law is to be enacted in July, but the opening of a stock exchange by is being planned for 2015. The Central Bank of Myanmar has signed a memorandum of understanding (MoU) with Daiwa and the Tokyo Stock Exchange to establish an exchange in Yangon by 2015. U Win Aung, president of the Union of Myanmar Federation of Chambers, said a number of federation members have become or are in the process of becoming public companies in order to list on the stock exchange. Most companies in Myanmar know very little about listing on a stock exchange but that will change by 2015, he added.

Rohingya Muslims drown off Myanmar trying to flee storm

14 May, 2013
Society
A boat carrying more than 100 Rohingya Muslims capsized off western Myanmar in an attempt to flee a cyclone headed to the country. At least 50 people drowned in the accident, according to a military intelligence officer, but currently 42 people have been rescued and 8 bodies have been found. The boats were a part of the government’s plan to remove internally displaced persons (IDPs) to emergency shelters as cyclone Mahasen heads for Myanmar and Bangladesh. The 140,000 IDPs are seen as particularly vulnerable to the cyclone which is expected to make landfall on Thursday morning.

Investment in Myanmar to get more difficult for Thais post- AEC

8 May, 2013
Business and Investment
Thai investors will face more difficulty when investing in Myanmar after the implementation of the Asean Economic Community (AEC) due to a significant rise in wage and land costs and increased competition with international investors, according to a study by the University of the Thai Chamber of Commerce’s Centre for International Trade Studies (CITS). According to the study, the value of FDI to Myanmar will skyrocket by 200-400% in 2015 after the AEC kicks off and the cost of land in Myanmar is projected to rise by 200-300% during the period.