Myanmar Morning News For September 5

Myanmar Morning News For September 5
Estimated Reading Time: 3 minutes |

Myanmar morning news

Examining the Companies Act
THE draft Companies Act, which is currently discussed by Amyotha Hluttaw, will introduce significant changes in the legal definition of foreign companies, the registration process and capital structures. Notably, foreign firms no longer need to obtain a permit to trade from the authorities and foreigners will be allowed to buy shares on the Yangon Stock Exchange for the first time.
— Myanmar Times

Nearly 90,000 Rohingyas escape Myanmar violence
Nearly 90,000 Rohingyas have fled to Bangladesh since violence erupted in Myanmar in August, pressuring scarce resources of aid agencies and communities already helping hundreds of thousands of refugees from previous spasms of violence in Myanmar.
— Business Standard

MyTel to launch 4G-only network covering 90% of Myanmar’s population
MyTel, the fourth licensed operator in Myanmar, is aiming to extend its 4G-only network to 90% of the country’s population when it launches in Q1 2018.
— Developing Telecoms

Controversial forex trader FBS going for broke in Myanmar
A firm with links to murky dealings abroad has established an office in Myanmar, and several questions have been raised over their practices.
— Frontier Myanmar

Eyeing stronger ties, Modi embarks on 3-day trip to Myanmar
Starting Tuesday, Prime Minister Narendra Modi will make his first state visit to Myanmar, a country pivotal to India’s ambitions of forming stronger economic and trade links with Southeast Asia amid rival China’s widening influence in the strategic region.
— Nikkei Asian Review

OCK’s regional expansion viewed positively
Analysts are positive on OCK Group Bhd, especially its regional business outlook and expansion plans in Myanmar.
— The Sun Daily

Rakhine lawmaker, Kyaukphyu businessman defend China’s reported majority stake
The head of Arakan National Party defended China’s majority stake in Kyaukphyu SEZ and advised against placing too much emphasis on the stake ratio. Meanwhile, a member of the Myanmar consortium said Myanmar will now own 30 percent of the project.
— Myanmar Times

NRL exports diesel consignment to Myanmar
Assam’s Numaligarh Refinery Ltd (NRL) on Monday commenced export of High Speed Diesel to Myanmar, an official said.
— Eastern Mirror

More reinforcements arrive for embattled pulse and bean sector
STATE efforts are being made to help mung bean farmers diversify into alternative crops after India changed its import policy for pulses and beans last month, said Dr Ye Tint Tun, director-general of Department of Agriculture under the Ministry of Agriculture, Livestock and Irrigation.
— Myanmar Times

Indonesia asks Mymanmar to protect Rohingyas
Indonesia on Monday asked Mymnamar to protect its Rohingya Muslim minority even as protests continued in the archipelago nation over their persecution and a radical Sunni group engaged in sectarian violence in the country opened registration to send volunteers to Myanmar to defend them.
— Business Standard

UK to invest $115m to set up private teak plantations
UK-based Global Agriculture Joint Venture Co Ltd plans to US$115 million in the establishment of private teak plantations and teak production facilities in reserve forests in Yangon and Bago regions, according to Directorate of Investment and Company Administration (DICA).
— Eleven Myanmar

Myanmar: Restrictions on International Aid Put 1000s At Risk
The Myanmar authorities’ restrictions on international aid in Rakhine state is putting tens of thousands of lives at risk in a region where mainly Rohingya people are already suffering horrific abuses from a disproportionate military campaign, Amnesty International said today.
— Scoop

 

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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Sreypov Men

Sreypov Men

Journalism intern at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations.
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