Phantom bonanza

Article Abstract:

Oil and gas exploration in Burma since 1989 has yielded only one gas strike by Royal Dutch/Shell, one of ten companies granted exploration rights. The other companies are expected to pull out when their contracts expire because of poor results and inflated operating costs from the overvalued local currency. Burma has to import oil to generate electricity, but since revenues from oil discoveries are not expected to materialize, it will not be able to generate enough energy for its needs, much less for oil exploration activities which depend heavily on energy supply.

Finance, Myanmar, Petroleum, Natural resources, Natural gas exploration, Oil and gas exploration, Petroleum exploration

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Washing up: Dirty money takes a tortuous path

Article Abstract:

Law enforcers in Australia claim that millions of dollars in drug money is held in island banks in the names of shell companies or trusts that are protected by secrecy laws. The fight against money laundering is further complicated by the speed at which money can move around the world, and there are also traditional established money-laundering channels such as underground Asian banking networks. The most popular destination is Hong Kong, where money goes into underground networks, often fronted by legitimate businesses.

Asia, Money laundering

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End of an era: Vietnam's influence wanes as new Lao leaders emerge

Article Abstract:

Laos's gradual political change has seen a new group of leaders emerge who have weaker ties to Vietnam and little allegiance to Marxism. Prince Souphanouvong's recent death leaves Nouhak Phoumsavanh as president and Khamtay Siphadone as party chief and prime minister, the only top officials with close Vietnam connections. Trade with Vietnam and other former Soviet-bloc countries now constitutes less than 5% of Laos's trade, and the only obvious Vietnamese presence in Laos consists of construction workers.

Vietnam, Laos, Vietnamese foreign relations, Laotian foreign relations

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