Myanmar’s mobile sector is regarded as one of the world’s last remaining frontiers for companies; mobile penetration in Myanmar estimated at around 11% is the fourth-lowest rate in the world

February 11th 2014

Telecoms take-off

The development of Myanmar’s nascent mobile telecommunications sector is poised to take off. Operating licences have been granted to two international telecoms operators, Norway’s Telenor and Qatar’s Ooredoo, which have committed to invest billions of dollars to provide almost total mobile coverage within five years. But with mobile penetration in Myanmar estimated at around 11%—the fourth-lowest rate in the world—and a lack of requisite infrastructure in large areas of the country, Telenor and Ooredoo have a daunting task ahead of them. Read more of this post

Nestle hints at more deals after deeper healthcare dive

Nestle hints at more deals after deeper healthcare dive

8:19am EST

By Martinne Geller and Ben Hirschler

LONDON (Reuters) – Swiss food giant Nestle’s deeper dive into healthcare by taking over the dermatology joint venture it had with L’Oreal suggests further deals in the space are likely.

The move underscores Nestle’s determination to move beyond relatively stagnant traditional food markets into “wellness”, where growth prospects and profit margins are more enticing. Read more of this post

Entrepreneurs Push Back Against Rising LLC Fees

Entrepreneurs Push Back Against Rising LLC Fees

ANGUS LOTEN and RHONDA COLVIN

Updated Feb. 12, 2014 7:48 p.m. ET

Patrick Lewis filed paperwork to incorporate his mobile-app design firm in New York state late last month, paying the state-required $200 fee up front. No problem.

But the 24-year-old software designer faces another hurdle to incorporation. Under state law, he must arrange to print a notice in a local newspaper within four months that announces his firm, Butterscotch Labs LLC, is officially open for business. That will cost an additional $2,000, or about as much as four months’ rent for a typical New York City work space, he says. Read more of this post

China Central Bank Moves to Limit Risk in Interbank Market

China Central Bank Moves to Limit Risk in Interbank Market

LINGLING WEI

Feb. 13, 2014 4:14 a.m. ET

BEIJING—China’s central bank is taking steps to rein in certain bond-trading activities that could amplify risks in one of the world’s fastest-growing debt markets.

A division of the People’s Bank of China on Thursday published new rules effectively banning banks from using the funds raised from the sale of high-yield investment products for proprietary trading, or trading for its own profit, according to a statement posted on the website of the China Foreign Exchange Trade System, the interbank-trading and foreign-exchange division of the central bank. Read more of this post

Delhi chief minister takes on Indian tycoon over gas pricing

Delhi chief minister takes on Indian tycoon over gas pricing

Tue, Feb 11 2014

By Nidhi Verma

NEW DELHI (Reuters) – Delhi’s new chief minister took his anti-graft campaign to new heights on Tuesday, ordering an investigation into India’s richest man, Reliance Industries chairman Mukesh Ambani, and policymakers over gas pricing.

Arvind Kejriwal and his Aam Aadmi, or Common Man, Party (AAP) won the Delhi state election in December with promises to fight corruption and to tackle high utility prices. Read more of this post

China shadow-bank product defaults as coal company can’t repay; It Begins… Another High-Yield Chinese Shadow Banking Trust Defaults

China shadow-bank product defaults as coal company can’t repay – paper

Wed, Feb 12 2014

(Corrects spelling of coal firm to Liansheng, not Lianmeng)

* Jilin Trust products worth $126 million have defaulted – paper

* Trust products based on loan to deeply indebted coal company

* Products sold through China Construction Bank

* Jilin Trust working to recover investor funds

SHANGHAI, Feb 12 (Reuters) – A high-yield investment product backed by a loan to a debt-ridden coal company failed to repay investors when it matured last Friday, state media reported on Wednesday, in the latest sign of financial stress in China’s shadow bank sector. Read more of this post