Myanmar Morning News For July 11

Myanmar Morning News For July 11
Estimated Reading Time: 4 minutes |

Myanmar morning news

Central Bank enacts long-awaited finance regulations
Eighteen months after the passage of Myanmar’s landmark Financial Institutions Law, the Central Bank has issued a long-awaited set of regulations to govern the conduct of the sluggish domestic banking sector.
Frontier Myanmar

Myanmar Technology, Malaysia’s Numix JV to invest $2.5m in broadband services
Myanmar Technology Gateway (MTG), a local technology service provider, and Malaysia’s Numix Engineering are investing $2.5 million for satellite teleport development to roll out nationwide VSAT broadband service by the end of this year.
Deal Street Asia

Local airlines squeezed by expensive petrol and taxation
Expensive petrol and high tax rate limit the expansion of local airlines and development of the aviation industry, according to the Department of Civil Aviation (DCA), airline companies and stakeholders in the tourism industry.
The Myanmar Times

Deputy minister describes joint Myanmar-Chinese oil and gas exploration project at Amyotha Hluttaw
Deputy Minister for Electricity and Energy Dr. Tun Naing described joint oil and gas exploration and production projects between Myanma Oil & Gas Enterprise (MOGE) and North Petro Chem Corporation Ltd of China to yesterday’s meeting of the Amyotha Hluttaw.
Global New Light of Myanmar

The long wait for clean fuel in Myanmar
Drivers are long used to being ripped off by government and private fuel stations, but recent changes to investment rules could soon shake up the market.
Frontier Myanmar

Solar panels light up thousands of homes in Kayin State
Over 11,000 rural households in Kayin (Karen) State are set to newly receive electricity thanks to a long-awaited solar panel program.
Burma News International

Price manipulation increases onion price
Onion prices hit a 10-year high in early July, according to a report of City News yesterday.
Global New Light of Myanmar

Yangon New City Project makes few adjustments
The Yangon New City Project will be carried out with collaboration from the World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and foreign loans, said Yangon Region Minister for Electricity, Industry, Road and Communication Daw Nilar Kyaw at the 2nd Yangon Region Hluttaw meeting held on 10 July.
Global New Light of Myanmar

How to navigate Myanmar’s ethical maze
Myanmar is becoming an increasingly attractive sourcing destination, but retailers should insist strongly on ethical compliance when doing business there
Drapers

Myanmar startup secures local investment to expand abroad
AFTER RAISING US$140,000 (Bt4.8 million) investment from five local technicians last week, White Merak, Myanmar’s first ever animated comic application, has planned to expand its services to other countries, according to Aung Ye Kyaw, founder and chief executive officer of the start-up.
The Nation

Myanmar ed-tech startup Digital Royal Net gets $60K from local investor
Yangon-based Digital Royal Net Solutions Co Ltd, creator of a school management software, has raised $60,000 seed investment from a local investor allowing them to expand their market and user base.
Deal Street Asia

AIM-listed MySQUAR hits operational breakeven, to expand product line
AIM-listed Myanmar-language social media, entertainment and payments platform MySQUAR has achieved an operational breakeven in July, hitting an average daily revenue of $8,500 in late June.
Deal Street Asia

Customs seizures at Myanmar ports of entry worth Ks 3.7 billion in June
MYANMAR customs confiscated unauthorized goods worth Ks3.7 billion last month, according to the official figures released by the Customs Department last week.
Global New Light of Myanmar

The Unprecedented Explosion of Smartphones in Myanmar
Just six years ago, only North Korea had fewer mobile phones than Myanmar. Now, almost everyone in Southeast Asia’s poorest country is connected.
Bloomberg

Myanmar workers in Thailand victims of a broken system
With only meagre belongings stuffed into backpacks and duffel bags, tens of thousands of Myanmar migrants have streamed home across the Thai border over the past two weeks.
Channel NewsAsia

US pressures Myanmar to accept UN rights probe
US Ambassador Nikki Haley on Monday ramped up pressure on the Myanmar government to accept a UN fact-finding mission tasked with investigating human rights abuses against Rohingya Muslims.
Free Malaysia Today

Why Myanmar’s Suu Kyi Has Failed on Media Freedom
The current government’s approach looks eerily familiar.
The Diplomat

 

Feature photo imke.stahlmann
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Myanmar morning news by AEC News Today is your one stop source for Myanmar news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

 

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Cara Navarro

Cara Navarro

Journalism Intern at AEC News Today
Cara recently finished her first year at Bryn Mawr College in the United States, where she is studying Growth and Structure of Cities. While she is from Manila, Philippines, she has lived in multiple cities around the world, most recently Phnom Penh.

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