Business
covering burma and southeast asia
Wednesday, December 13, 2017
Magazine

Business


By The Irrawaddy JULY, 2000 - VOLUME 8 NO.7


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The latest meeting went well, said the retired army chief, thanks to his close personal friendship with members of Burma’s ruling junta.

Yasuda, Myanma Insurance team up

Three years after signing a Memorandum of Understanding under the 1996 Insurance Business Law, Yasuda Fire and Marine Insurance Company of Japan has become the first foreign insurance provider to enter into a joint venture with Burma’s state-owned Myanma Insurance Company. The 1996 law entitles local and foreign private investors to provide life, fire, cash-in-safe and fidelity insurance. However, under the country’s Foreign Investment Law, all foreign firms operating in Burma are obliged to buy their insurance policies from Myanma Insurance.

CD pirates using drug routes

Burma, along with Macau and Hong Kong, are now the main sources of pirated CDs in China, according to the director of Beijing’s National Copyright Administration. Chinese officials said that despite the success of a crackdown on domestic producers, about 70% of bootleg music and video CDs now available in the country have been smuggled in from neighboring countries. They added that CD smugglers plying southwestern China’s border with Burma were using the same routes and methods as drug traffickers.

Best Western latest to leave Burma

Best Western International, the world’s largest hotel chain, announced from its headquarters in Phoenix, Arizona that it would no longer operate Rangoon’s Kandawgyi Palace Hotel or any other hotel in Burma after coming under sustained pressure from US-based activists to withdraw from the military-ruled country. "We are pleased to see that yet another US corporation has acted conscionably and withdrawn its operations from Burma," read a statement issued by activists.



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