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28 July
2014
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Court orders Russia to pay $50bn to Yukos shareholders

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A court in the Hague has awarded shareholders in the defunct Russian oil company Yukos the largest compensation package to date. The Court of Arbitration said Russia should pay $50bn (£29.5bn) in damages. It said Russian officials, under President Putin, had manipulated the legal system to bankrupt Yukos, and jail its boss, Mikhail Khodorkovsky for fraud…

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10 June
2013
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VISA, MASTERCARD EXPECS MOBILE PAYMENT TAKEOVER

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World electronic payment giants Visa and MasterCard claimed that mobile payment would reduce the overwhelming attachment to cash starting this year. The government is planning to grant two licenses to two international telecommunications firms on June 27, paving ways for mobile payment in the country which has very less mobile coverage. “It may well be…

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10 June
2013
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ANMAR, ASEAN TO SHARE BENEFITS FROM GLOBAL LIMELIGHT

Leaders of ASEAN countries pose for a group photo during the 22nd ASEAN Summit in Bandar Seri Begawan

Myanmar helped Association of South East Asian Nations draw global attention and participants in World Economic Forum in Nay Pyi Taw hoped that both Myanmar and ASEAN would gain profits from the enhanced profiled, CNA reported. Myanmar president Thein Sein in WEF said the country is open to foreign investments. “And we should all seize…

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10 June
2013
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MARRIOTT TO SEAL FIRST HOTEL DEAL IN SIX MONTHS

marriott to seal

Marriott International Inc, one of the largest hotel chains in US, is due to strike a deal for its first hotel in Myanmar within six months, according to a livemint report. “The company’s first hotel in the Southeast Asian national will probably be a Mariott or Courtyard,” Asia-Pacific president and managing director Simon Cooper is…

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8 June
2013
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WEF-EA KICKS OFF IN MYANMAR

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Leaders of Myanmar, Laos and Vietnam focused on cooperation in inclusive growth as they addressed World Economic Forum (East Asia) hosted for the first time in Myanmar in the administrative seat Nay Pyi Taw. “It’s critical for us to move forward,” Myanmar president Thein Sein said in his opening address. The World Economic Forum which…

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