Myanmar Morning News For May 5

Myanmar Morning News For May 5

Myanmar morning news

Ks250 million each donated to two philanthropic foundations
Two philanthropic foundations working for orphans, aged people and HIV patients were provided with cash assistance by a donor yesterday.
— Global New Light Of Myanmar

MFI Myanmar Finance raises $1m debt from Maybank
Myanmar Finance International Limited (MFIL), a microfinance joint venture of AIM listed Myanmar Investments International (MIL), has raised an additional local currency denominated $1 million debt facility from Malaysia’s Maybank.
— Deal Street Asia

UOB unit drives FDI worth over $27b in S-E Asia
A unit at United Overseas Bank (UOB) that deals with foreign direct investment helped steer more than $27 billion worth of business spending in South-east Asia last year – double the amount recorded in 2015.
— The Straits Times

Unilever in ‘Land Grab’ Phase in Myanmar
Anglo-Dutch consumer goods giant Unilever (UL) has reportedly inked a joint venture with local rival Europe & Asia Commercial Company (EAC) in Myanmar as it bets on the “fast-opening country.” Despite a decline in both economic growth and the local currency, the consumer producer maker is bullish on the growth opportunity after trade restrictions have been lifted.
— Investopedia

Myanmar manufacturing PMI down to 52.9 in April
The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, or PMI, fell marginally to 52.9 in April from March’s 53.1, which was the highest reading since the survey began in December 2015.
— Nikkei Asian Review

Myanmar coal plant growth could kill 280,000: study
Myanmar’s plans to grow the country’s desperately needed but polluting coal-fired power plants could kill more than a quarter of a million people in the coming decades, environmentalists said Thursday.
— News Straits Times

Oil flows through Myanmar pipeline
China National Petroleum Corp, the country’s largest oil and gas producer, has pumped the first crude oil through the China-Myanmar oil pipeline and the oil is expected to arrive in China within three weeks, the energy giant said on Wednesday.
— China Post

Running dry in Yangon as hot season rages
Outdated infrastructure and increased urbanisation are placing a huge burden on water supplies for the commercial capital.
— Frontier Myanmar

Home Affairs to investigate, prosecute presidential resignation rumours
NLD heavyweight U Win Htein says the Ministry of Home Affairs is investigating the source of rumours claiming the impending resignation of President U Htin Kyaw, with criminal charges expected for any culprits found during the probe.
— Frontier Myanmar

Missing Funds in Embezzlement Scandal Returned to Myanmar’s Magwe Government
The former chief minister of central Myanmar’s Magwe region on Thursday returned 3 billion (U.S. $2.2 million) kyats in missing funds to the regional government and said he will transfer nearly 5 billion (U.S. $3.6 million) more this week, a regional government official said.
— Radio Free Asia

Myanmar Grants 123 Licenses to Telecoms Companies Since 2015
Myanmar authori­ties issued a to­tal of 123 licens­es to companies in the booming telecommuni­cations sector in the past two years, official media reported last week.
— Consult-Myanmar

Huawei Tests 5G Technology, Eyes Potential Roll Out in Myanmar
Only a year after the arrival of 4G in Myanmar, Chinese mobile technology com­pany Huawei has revealed the roll out 5G technology could be on the horizon, according to a company executive.
— Consult-Myanmar

A private company proposes to supply electricity in Myeik
A private company, South East Asia Energy and Electricity Company, has submitted a proposal to Taninthayi regional government to supply 60 megawatts of electricity generated from hydropower, solar power and fuel oil (FO), with an investment of more than US$60 million in Myeik district, sources said.
— Eleven

Mandalay blocks marble mining
The Mandalay Region minister for natural resources and environmental conservation said he would permit no more marble mining in the Yakkinsin and Shwesanshin mountains in Pyin Oo Lwin District.
— Eleven

Vatican and Myanmar agree to establish diplomatic ties
The Vatican and Myanmar established full diplomatic relations on Thursday (May 4) in the latest step in the Southeast Asian nation’s rehabilitation by the international community.
— Channel NewsAsia

 

Feature photo Gero Birkenmaier
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Stella-maris Ewudolu

Stella-maris Ewudolu

Journalist at AEC News Today
Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005. Between November 2004 and February 2011 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. Since 2010 she has worked as a freelance screen writer for 'Nollywood', Nigeria.
Stella-maris Ewudolu

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