Korean Air suspends flights to Yangon
Korean Air has halted flights from Incheon (Seoul) to Yangon until at least April 25th amid the outbreak of COVID-19. The March 3rd announcement from South Korea’s largest airline, stated simply: “Due to the novel coronavirus (COVID-19) o
Garment industry scores foreign investment despite worker unrest
A new batch of foreign companies will invest a collective USD 24 million to make garments and bags in Yangon. According to the Yangon Region Investment Committee (YRIC), ten companies from Myanmar as well as China, Hong Kong, Taiwan and Estonia will
Yangon Stock Exchange gains new company
A sixth company will soon be traded on the Yangon Stock Exchange (YSX). Logistics firm Every Flow River Group Public Co (EFR) will join the bourse on March 20th, with its initial share price reveled on March 19. EFR will begin trading at a high point
Power investment has topped USD 1 billion since October
Foreign investment in the power sector has reached USD 1 billion over the first four months of the fiscal year, official data shows. The investments came from foreign companies working with the government and local partners to develop power plants, t
Defunct airlines face lawsuit despite industry upturn
The government may sue two defunct airlines if they fail to pay their debts by May. Air Mandalay and Asian Wings Airways owe the government a combined MMK 93.72 million, or USD 64,400, deputy minister of Transport and Communications U Kyaw Myo told p
