Myanmar Morning News For July 3

Myanmar Morning News For July 3

Myanmar morning news

Myanmar’s PMI retreats into contraction in June
The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, or PMI, showed that the country’s economy has retreated into contraction for the first time since December.
Nikkei Asian Review

Macroeconomic risks could derail Myanmar’s bright outlook: AMRO
THOUGH MYANMAR’S growth is expected to recover in fiscal year 2017-18 (ending March 31) to 7 per cent yearly after the economic slowdown last year, ASEAN+3 Macroeconomic Research Office (AMRO), the regional macroeconomic surveillance unit of Chiang Mai Initiative Multilateralisation, has warned of significant macroeconomic risks that could derail the nation’s favourable outlook.
The Nation

Only high-tech firms for hydro, coal power
Only companies and countries with access to the latest technologies and technologies which minimise environmental impact will be considered to take part in hydro and coal power projects in Myanmar, a senior official from the Ministry of Electricity and Energy told The Myanmar Times.
The Myanmar Times

Foreign investors eye electricity sector
Foreign companies are in discussion with the Myanmar Investment Commission (MIC) over possible investment in huge electricity projects, according to the Directorate of Investment and Companies Administration (DICA).
Eleven Myanmar

Politics aside, Belt and Road is Asia’s medicine: PwC
The political will and financial resources from China’s Belt and Road Initiative will help Myanmar and Asia to fill the infrastructure demand, according to the managing director of professional services firm PwC Myanmar.
The Myanmar Times

Rice exporters eye Chinese rice deal
The Myanmar Rice Federation (MRF) is discussing a plan to sign a deal to export 200,000 tonnes of rice to China under a government-to-government agreement.
Eleven Myanmar

Joining hands with Spain for development in Myanmar
Since Myanmar has reopened for foreign investment, many countries see huge business opportunities in this resource rich country.

China’s reported majority Kyaukphyu stake in stark contrast with Thilawa
The difference between foreign ownership of Japan-led Thilawa project and that of China-led Kyaukphyu project is very “stark” and “noticeable”, the chair of a Singapore-based think tank told The Myanmar Times.
The Myanmar Times

How KBZ Bank, the country’s biggest lender, pursues SME banking
Zaw Lin Aung, the managing director of banking and finance at KBZ Bank, told Mizzima in a recent interview that his bank plans to grow from being the biggest bank to the strongest bank as it grows together with local SMEs.

IFC seeks to invest more in Myanmar agri businesses
International Finance Corporation (IFC), the World Bank Group’s private sector investment arm is looking to invest more in the agricultural space, to help private companies be part of the supply chain development process.
Deal Street Asia

Plans underway to license resorts along Dokhtawaddy River
Plans are underway to license resorts along the banks of the Dokhtawaddy River in Mandalay Region, according to the Department of Water Resources and River Development.
Eleven Myanmar

Lacquerware handicrafts facing extinction
Lacquerware manufacturing businesses in Bagan are on the verge of extinction, according to a report in the Myawady Daily yesterday.
Global New Light of Myanmar

Myanmar Finance secures $1m local currency debt from Symbiotics SA
Myanmar Finance International Limited (MFIL), a microfinance company, has secured a $1 million loan from Symbiotics SA, an investment advisory and portfolio management services firm, the company announced on June 26.
Deal Street Asia

Stock trading on YSX valued at lackluster Ks1.5 billion in June
THE FOUR companies listed on the Yangon Stock Exchange (YSX) traded shares with an estimated value of Ks1.5 million in June, continuing a downward trade volume trajectory, according to data released by YSX.
Global New Light of Myanmar

7.3% of over-25s are graduates: study
About two-thirds of the population aged over-25 have no more than primary-level education and only 7.3 per cent are graduates, according to the Ministry of Labour, Immigration and Population.
Eleven Myanmar

Census report: Half a million young people in Myanmar cannot read or write
A new census report by the UNFPA reveals that while youth literacy in Myanmar is relatively high at 94 per cent, this still means that more than half a million young people cannot read or write.
Burma News International

UK and Myanmar discuss education reforms
BRITISH and Myanmar government officials discussed overhauling Myanmar’s national education system at a planning meeting yesterday at Yangon University, according to a Myanmar News Agency report.
Global New Light of Myanmar

Authorities inspect unexpectedly food warehouses
Food and Drug Administration (FDA) officers have raided warehouses around Bayintnaung market on July 1.
Eleven Myanmar

Illegal goods checked at Yaypu and Mayanchaung check points
A combined team comprised of officers and staff from the departments concerned is checking for illegal goods at Yaypu and Mayanchaung check points which were reopened on 1 March, according to a report in the Myanma Alinn Daily yesterday.
Global New Light of Myanmar

Rakhine State minister reassures residents that area is secure
Troops in northeastern Rakhine State were put on high alert on Tuesday, police said, after nearly 200 Rakhine Buddhist villagers fled the area after a recent spate of killings and amid fears of fresh attacks by Muslim insurgents.
Global New Light of Myanmar


Feature photo Eddy Milfort
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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