Myanmar Morning News For August 10

Unbanked population drives cards boom
THE LARGE number of Myanmar people without bank accounts creates room for growth in the use of cards and e-wallets in the country over the next few years, bankers said at the recent Myanmar Banking and Payments Conference organised by Sphere Conferences.
— Eleven Myanmar

Yangon receives mobile power generator by GE
Yangon will deploy a new K30 billion (US$22 million) 25-megawatt mobile generator to meet the city’s electricity demand during peak periods and emergencies.
— Myanmar Times

More FDI essential for substantial increase in garment exports
Foreign direct investments (FDI) in labour-intensive activities such as garment exports should be actively promoted from China and elsewhere in order to facilitate Myanmar’s economic transformation, according to the latest briefing paper published by a UK-based think tank.
— Myanmar Times

CIMB Research retains Reduce for Daibochi at lower target price
CIMB Equities Research is retaining its Reduce recommendation for Daibochi Plastic and Packaging as it is trading at an expensive 2018 fully-diluted 20.8 times price-to-earnings (P/E) compared to the sector’s 11.9 times P/E.
— The Star Online

Export of beans and pulses less than previous year
In the past year Myanmar exported 660000 tons of beans and pulses and made US$ 484 million- which is less than half compared with previous year, according to Ministry of Commerce.
— Eleven Myanmar

Japanese links to 8888 protests explored in new film
The premiere of a film on Japanese links to the 8888 pro-democracy demonstrations was launched at the Yangon Novotel on Monday.
— Eleven Myanmar

Reforestation activities increase in Bago Yoma
The Forestry Department is coupling a 10-year suspension of logging in the Bago Yoma forest with a reforestation for clear-cut areas, said U Kyaw Hsan Moe, a staff officer of the Forestry Department in Yedashe Township.
— The Global New Light of Myanmar

Calves delight visitors to Winga Baw Elephant Camp
A series of elephant calf births at Bago’s Winga Baw Elephant Conservation Camp near the 39-mile post on the Yangon-Mandalay Highway have attracted a greater number of visitors recently, according to a report in the City News Daily yesterday.
— The Global New Light of Myanmar

History students visit ancient Pyu Cities
Sixty-eight students of Diploma in Myanmar History and Culture 3rd Batch led by Dr Myint Thein, Deputy Director-General (Retired) from the Department of Historical Research and Head Professor Dr Daw Margret Wan of the University of Yangon and 8 faculty members visited Pyu Ancient Cities of Beikthano in Taungdwingyi and Sri Ksetra in Pyay between 4 and 6 August.
— The Global New Light of Myanmar

Betel leaf market to thrive for a year on high price
Market prices of betel leaf are looking robust for the whole year, said betel leaf farmers from Shwe Ku Te Su village, Khin U township, Sagaing Region, on August 5.
— Myanmar Times

FMI’s Net Profit Jumps 67 % as YOMA Bank Remains its Largest Contributor
First Myanmar Investment Co., LTD’s net profit for the 2016-2017 fiscal year surged by 67 percent to K14.9 billion from K8.9 billion the previous year, with YOMA Bank still the largest asset in the Group, according to their 25th Anniversary Report issued last week.
— Myanmar Business Today

Why agriculture is ailing and how best to revive the sector
The sector contributes to almost 40 percent of the nation’s GDP, accounts for close to a third of total exports and employs more than 60pc of the workforce, according to the Food and Agriculture Organisation of the United Nations.
— Myanmar Times

All Quiet on Myanmar Exchange
Myanmar took a baby step towards capitalism last year by launching a stock exchange. It draws precious few investors, but a German manager hopes to revive its fortunes.
— Handelsblatt Global

Myanmar permits 26 more investment enterprises
Myanmar has permitted 26 more investment enterprises, creating some 940 job opportunities recently, official media reported Wednesday.
— Xinhua

China’s Charm Offensive Regains its Foothold in Myanmar
Daw Aung Sang Suu Kyi hosted an important Chinese guest for dinner at her Naypyitaw residence on August 4, with the visit covered on the front page of the state-run newspaper the following day.
— The Irrawaddy

Feature photo Marcela Tokatjian
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