Myanmar morning news for January 17

Myanmar morning news for January 17

Myanmar morning newsMyanmar’s bilateral trade with the US increases
Myanmar’s bilateral trade with the US in the first month of the 2018-2019 fiscal year topped US$63.6 million, an increase of $28.4 million, or 80.7 per cent, compared with the corresponding period of the 2017-2018FY, according to the Commerce Ministry, state media reported.
— Mizzima

Myanmar’s 2019 Economic Outlook
Despite Myanmar facing a significant economic downturn last year, government officials and business people alike have expressed positivity for the country’s economy in 2019, especially in regards to foreign investment and the local business environment.
— Irrawaddy

Myanmar seeks EU’s favour not to revoke trade preference
IN FEAR OF negative impacts on the nation’s growth and the grass root population over European Union’s potential withdrawal of its generalised scheme of preferences (GSP) from the country, Myanmar officials and businesses have requested the EU to reconsider the move.
— Eleven Myanmar

Central Bank permits loans without collateral at 16pc interest rate
Myanmar banks have been permitted to extend loans without the need for collateral at a maximum lending rate of 16 percent, the Central Bank of Myanmar (CBM) announced in a directive issued yesterday. The measures will take effect on February 1.
— Myanmar Times

Fisheries sector upgrades as exports set records
Myanmar is striving to upgrade its aquaculture sector amid a fall in the prices of fishery products in recent years despite higher export volumes and revenue.
— Frontier Myanmar

China seeks big-ticket payback from Myanmar
As China surges forward again in Myanmar, new pressure to restart a controversial dam project could represent a watershed moment for bilateral relations.
— Asia Times

Bid to establish Myanmar derivatives market begins
THOUGH Myanmar’s stock market is yet to be very active due to a lag in investor interest, another move is now under way to set up a derivatives market in the nation, according to a workshop held at the Yangon Stock Exchange (YSX) yesterday.
— The Nation (annoying popup)

Two Youths Injured, 200 Villagers Flee Homes Amid Clashes in Myanmar’s Northern Rakhine State
Fresh skirmishes between the Myanmar military and Arakan Army in violence-scarred northern Rakhine state have left two youths injured and forced about 200 villagers to flee their homes in Maungdaw and Buthidaung townships, local residents said Wednesday.
— Radio Free Asia

Mandalay denies social media rumours of anthrax
Rumours spread on social media that two people had been infected with anthrax from a cow in Meiktila township of Mandalay Region are not true, according to a senior regional veterinary official.
— Myanmar Times

Unjust affairs won’t be carried out as Myanmar’s policy is based on honesty: Aung San Suu Kyi
Unjust affairs will not be carried out talking nonsense hoping for a short-term solution as Myanmar’s policy is based on honesty, said State Counsellor Aung San Suu Kyi.
— Eleven Myanmar

Rise of Arakan Army spells trouble for Myanmar
In northern Rakhine state, the refugee crisis is not the only worry on the minds of the Myanmar government. On 4 January, also Independence Day in Myanmar, Arakan Army militants killed 13 people and wounded nine others in Rakhine. According to local reports, the insurgents attacked four police posts in the Buthidaung area.
— The Asean Post

Port shortages lead to less demand in competing with other rice exporting countries
As Yangon serves as only a gateway to rice export, Myanmar lags behind Thailand, Pakistan and India in selling rice, said Ye Min Aung, secretary of Myanmar Rice Federation.
— Eleven Myanmar

Singapore channels private equity into Myanmar growth sectors
Ascent Capital Partners, a Singapore-registered fund manager, has launched a Myanmar-focused private equity fund focusing on companies in the consumer, education, financial services, healthcare and the technology, media and telecommunications sectors in the country.
— Myanmar Times

Tech-based firms on the rise despite low digital literacy
THOUGH DIGITAL literacy is still low in Myanmar, people’s eagerness to try new things and their ability to easily adapt to a new environment could generate a technology boom in the country by encouraging young entrepreneurs to establish tech-based companies, say tech experts.
— Eleven Myanmar

Over 1.7 mln tons of rice, broken rice shipped in nine months; exports fall 800,000 tons
Myanmar exported over 1.7 million metric tons of rice and broken rice from 1 April to 28 December 2018, a decline of over 800,000 tons compared with the corresponding period of 2017, according to data from the Myanmar Rice Federation (MRF).
— Global Newlight of Myanmar

Myanmar Military Frees 13 Villagers Caught in Rakhine Conflict
Myanmar’s military on Monday freed all but two of 15 villagers suspected of contact with rebel forces, whom it had detained in Buthidaung township amid fighting between government soldiers and insurgent Arakan Army troops in restive northern Rakhine state, a national lawmaker said Tuesday.
— Radio Free Asia

Reform of extractive state businesses delayed
The reform of Myanmar’s opaque and powerful state-owned enterprises (SOE) has been delayed for over a year due to sensitivity surrounding the industries.
— Myanmar Times

Hotpot fish offers potential for China-Myanmar aquaculture cooperation
China faces a huge gap when it comes to imports of Basa fish, a freshwater meaty fish that is served on Chinese dining tables as fillets with hot pickled vegetable soup, and Myanmar is in a unique position to fill that gap, industry experts said in a recent bilateral vocational exchange program.
— Mizzima

Oral care brand Zingo parent raises $350k for rollout across Myanmar
Singapore-registered Ko Shwe Ventures, the company behind Zingo brand of oral healthcare products, has raised $350,000 in a seed round of financing from international investors, the company announced.
— DealStreetAsia

NWF, partners to establish derivatives market in Myanmar
THOUGH Myanmar’s stock market is yet to be very active due to a lag in investor interest, another move is now under way to set up a derivatives market in the nation, according to a workshop held at the Yangon Stock Exchange (YSX) on Tuesday.
— Eleven Myanmar

Myanmar Police Force holds graduation for Sub-Inspectors
Myanmar Police Force Chief Police Lt-Gen Aung Win Oo attended a graduation ceremony of Myanmar Police Force Sub-Inspector Training Course No 93 Ye Thuya Company held at Mandalay Region, PyinOoLwin Township Police Officer Training School parade ground yesterday morning.
— Global Newlight of Myanmar

K430 million lost to fires in Mandalay last year
Some 215 fires caused losses of more than K430 million in seven townships across Mandalay Region last year, according to the regional Fire Department.
— Myanmar Times

1st int’l gems, jewelry fair opens in Myanmar’s Mandalay
An international gems and jewelry fair has opened in Myanmar’s second largest city of Mandalay, the official Global New Light of Myanmar reported Wednesday.
— Xinhua

President U Win Myint attends 67th Kayah State Day ceremony
President U Win Myint and First Lady Daw Cho Cho accompanied by Union Ministers Lt-Gen Kyaw Swe, U Min Thu, Dr. Aung Thu, U Ohn Win, U Win Khaing and Nai Thet Lwin and officials left Nay Pyi Taw by a special Tatmadaw flight and arrived in Loikaw, Kayah State yesterday morning.
— Global Newlight of Myanmar

 

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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 recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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