Business in Burma this week: Burma now a ‘candidate’ for EITI; France’s largest bank slapped with $9B fine for violation US sanctions; and Taiwanese shoe manufacturer invests $100M in Rangoon factory.
Four people have been arrested in Mandalay and two in Rangoon for protesting against a government-backed energy price hike, which will come into effect on 1 April.
Due to constant power failures across Burma, medicines that need to be kept at specifically refrigerated temperatures, such as cancer medication and insulin, are becoming damaged and putting patients’ lives at risk.
Factories in Rangoon’s industrial zone are closing because of government imposed power cuts to combat widespread electricity shortages.
Doubling of electricity prices prompts accusations that government is capitalising on surplus of cash from sales to China and Thailand
Rumoured price hikes likely to stir unrest in Burma as memories of September 2007 uprising still fresh in the minds of many
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