Egypt’s famed military-owned ChillOut fuel station franchise will be privatised through an initial public offering (IPO), announced Minister of Planning and Economic Development Hala El-Said on 3 December. The announcement, made during an interview with Asharq Business on the sidelines of COP28, marks a significant step in the country’s ongoing privatisation programme. The transaction is
Simultaneous Blazes at Two Myanmar Military-Owned Malls Raise Suspicions of Regime Plot
Ruby Mart in downtown Yangon burns on Thursday morning.
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By The Irrawaddy 1 April 2021
Two military-owned shopping malls in Yangon one downtown and another in the northern part of the city burned down early on Thursday morning. Photos that went viral online show the charred remains of Ruby Mart in the city center, burned beyond recognition. The Gandamar Wholesale center in Mayangone Township was seriously damaged in a separate blaze that was still smoldering after sunrise.
The charred Ruby Mart building on Thursday morning.
So far, the causes of the fires remain unknown, as does the extent of the financial losses.
People Line Up at Myanmar Military-Run Bank to Withdraw Cash for Second Day
People line up in front of a Myawaddy Bank branch in Yangon to withdraw cash on Tuesday. / The Irrawaddy
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By The Irrawaddy 17 February 2021
YANGON Among the large crowd of people lined up for a second day in front of the Myanmar military-owned Myawaddy Bank in Yangon to withdraw money on Wednesday, many expressed concern that the demand for cash across the country could cause the bank to collapse.
After anti-coup protesters called for a boycott of military-related businesses, branches of Myawaddy Bank in Yangon experienced unusually large numbers of customers withdrawing money this week, despite only being open for a few hours in the mornings.