Starbucks backtracks on Myanmar investment deal

Starbucks has backtracked on a major investment in Myanmar that would have brought its first outlet to the country, local news outlet 7Day reported today, citing a company spokesperson. “Even though our company is avidly trying to break into the international market, we haven’t decided on establishing a business in Myanmar just yet,” the company’s Asia-Pacific public relations ...

Business

Tour operator fights for tourists’ right to drive motorbikes in Dawei

Tour operator fights for tourists’ right to drive motorbikes in Dawei

A tour operator is taking on the government of Myanmar’s southern Taninthayi Region to protect the right of foreign tourists to drive motorbikes in the Dawei Peninsula, one of...

Five coal miners suffocate after Sagaing Region explosion

Five coal miners suffocate after Sagaing Region explosion

Four Myanmar coal miners and one Chinese technician suffocated in a mine in Kalaywa Township, Sagaing Region, last week after a methane gas explosion collapsed the tunnel they...

Hong Kong lingerie company abandons Myanmar factory without informing workers

Hong Kong lingerie company abandons Myanmar factory without informing workers

A Hong Kong-based lingerie and swimwear company abandoned its factory in Myanmar without informing hundreds of workers or paying them their salaries for last month. Around 300...

Myanmar’s currency crisis could ‘bring down the government’: economist

Myanmar’s currency crisis could ‘bring down the government’: economist

The danger of Myanmar’s ongoing currency crisis, characterized by the sharp depreciation of the Myanmar kyat against the US dollar, must not be underestimated, said economist...

Myanmar Times owner regrets buying the paper

Myanmar Times owner regrets buying the paper

Myanmar tycoon Thein Tun, the man famous for introducing his country to Pepsi Cola, says he regrets becoming the owner of the Myanmar Times, which he still owns. “In 2014, I did...

Yangon 4G speeds top Tokyo, Hong Kong: report

Yangon 4G speeds top Tokyo, Hong Kong: report

Yangon’s 4G upload and download speeds are the fourth-fastest in East Asia, according to a report released last week by the telecommunications insights group OpenSignal. The...

Former Thai PM wanted over 2006 loan to Myanmar generals

Former Thai PM wanted over 2006 loan to Myanmar generals

Thailand’s Supreme Court has issued a warrant yesterday for former prime minister Thaksin Shinawatra over his alleged abuse of power in 2006 by ordering a Thai bank to offer a...

Caterpillar, Volvo, Komatsu contribute to mining abuses in Kachin State

Caterpillar, Volvo, Komatsu contribute to mining abuses in Kachin State

Three of the world’s largest mining equipment companies are contributing to major human rights abuses in Myanmar by supplying machinery to local mining companies that have been...

Myanmar military chief blew Kirin’s cover in donation scandal

Myanmar military chief blew Kirin’s cover in donation scandal

Japanese beer company Kirin has announced that it is investigating a donation allegedly made by its Myanmar subsidiary to the country’s military just days after the mass...


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Coconuts Yangon Business

Since Myanmar started opening up to the outside world in 2011, the business environment has changed considerably. Once a closed-off country run by crony businessmen, Myanmar is now an exciting frontier market. In Yangon, you can see new bars and restaurants and more nightlife options popping up every couple of weeks. The US dropped sanctions on Myanmar in September 2016, which could mean more investment in the country, where many big industries are controlled by formerly blacklisted cronies.