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    Crackdown on farm protests, Tikait holds out in UP Gate standoff | India News

    Week after Cyclone Amphan, Kolkata hit by squall at 96 kmph – india news

    Week after Cyclone Amphan, Kolkata hit by squall at 96 kmph – india news

    Maharashtra, Delhi, Tamil Nadu, Gujarat, Rajasthan, Uttar Pradesh, Bihar

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    Air travel in India and the US: What has changed?

    Mamata petitions PM against ‘whimsical’ scheduling of Shramik trains | India News

    Mamata petitions PM against ‘whimsical’ scheduling of Shramik trains | India News

    After Hard Position On New Map And Rebuke By India, A Change In Nepal

    After Hard Position On New Map And Rebuke By India, A Change In Nepal

    Lockdown: Toddler’s failed attempt to wake up dead mother leaves internet, conscience shaken | India News

    Lockdown: Toddler’s failed attempt to wake up dead mother leaves internet, conscience shaken | India News

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    India under Narendra Modi can’t be threatened: Ravi Shankar Prasad on China face-off | India News

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    AgustaWestland accused Michel questioned in Tihar, asked to name ‘prominent politicians’

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    Telecoms set the business tone in Myanmar, Telecom News, ET Telecom

    Asian Shares Advance Following Upbeat US Jobs Report | Business News

    Lockdown diaries with Sanjiv Bajaj

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    Boeing begins cutting workforce with 6,770 layoffs in US – business news

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    ED takes action against bootleggers, attach assets in Indore

    ED takes action against bootleggers, attach assets in Indore

    Flight services at WB’s Bagdogra airport to resume from tomorrow

    Flight services at WB’s Bagdogra airport to resume from tomorrow

  • Economy

    India’s animal spirits stabilize as virus rages across economy

    The Latest: Trump sees economy rebound by Election Day | Govt-and-politics

    NYC economy & small business series coming to amRUSH next week

    NYC economy & small business series coming to amRUSH next week

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    Cramer says the stock market too optimistic about economic recovery

    The Texas economy is slowly reopening, but our electricity use isn’t showing it

    The Texas economy is slowly reopening, but our electricity use isn’t showing it

    Derby’s Take: New Data Suggests the Economy May Have Seen the Worst of It

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    Coronavirus latest: French economy to shrink more than 8% in 2020

    Coronavirus has made digital taxes an even bigger threat to US economy

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    Stock futures continue rally as economic activity resumes

    Stock futures continue rally as economic activity resumes

  • Technology

    Use of technology, integration yielded top spot for State police: DGP

    Apple Hits Record After December Surge Sends It Past Amazon

    JioPhone 3: What we know about Google – Jio partnered phone

    Airtel says no broadband outage after users reported issues

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    Sari Baldauf Takes Over as Nokia Chair From Siilasmaa | Technology News

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Telecoms set the business tone in Myanmar, Telecom News, ET Telecom

by mynews
March 9, 2021
in Business
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Telecoms set the business tone in MyanmarBy Una GalaniMUMBAI: Foreign investors had rushed into Myanmar’s frontier economy over the past seven years, so their reaction to deadly clashes triggered by February’s military coup could set the business tone for the fragile nation for years to come. The telecommunications sector is the one to watch.

Financing already appears to have stalled for CVC Capital’s $700 million purchase of the owner of Irrawaddy Green Towers, the country’s largest cell phone tower company – the second-largest deal involving Myanmar assets. Elsewhere, Japanese drinks group Kirin terminated its partnership with a military-linked conglomerate and Australian oil-and-gas giant Woodside is reviewing its nascent activities.

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The stakes are higher for telecoms operators already invested. Norway’s Telenor, for example, has helped lead a huge uptake in mobile communications and internet usage since it won a licence to operate back in 2014; smartphone penetration is now amongst the highest in the world. Telenor started generating cash faster than expected and the country accounted for 7% of its EBITDA in 2019. Japan’s KDDI and trading house Sumitomo partnered with state-owned MPT around the same time. And U.S.-based private equity fund TPG Capital became a top investor in towers.

Now, in addition to the business risk of prolonged economic instability, the promising sector must grapple with military-directed internet shutdowns and consider the cost of an intrusive new cybersecurity bill. The junta has already restricted access to Facebook, used by more than half of the 54 million population.

The timing is unfortunate. The market had just stabilised after a painful price war led by new entrant Mytel, backed by Vietnam’s state-owned Viettel. Even before the coup, Ooredoo from Qatar was a mooted seller given its Muslim background plays poorly in majority-Buddhist Myanmar, and it has struggled to scale its network.

Any sweeping sanctions could force Western players to abandon the market to Chinese rivals. Barring that, they may look past a reversion to authoritarianism. After all, Telenor’s top revenue-generating Asian market in 2019 was Thailand, where the prime minister is a former general who also overthrew an elected government. The officials that Myanmar’s military have put in charge of economic policy served prior to the democratic transition in 2015, and did a decent enough job to lure in investors. That makes leaving – or staying – a difficult call.



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