Myanmar Morning News For June 2

Myanmar Morning News For June 2
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Myanmar morning news

Budget for rural development reduced to 10pc this year
The budget for rural road and bridge construction approved for this 2017-18 fiscal year was barely 10 percent of last year’s, said Union Minister for Agriculture, Livestock and Irrigation, Dr Aung Thu.
Myanmar Times 

Rice exports on rise
Between late April and the third week of May, the country exported more than 360,000 tonnes of rice, up 260,000 tonnes from the same period last year, according to the Ministry of Commerce.
Eleven Myanmar 

Yangon MPs to review ‘outrageous’ city rental contracts, citing millions in lost revenue
Lawmakers in Yangon’s regional parliament are demanding a wide-ranging review of rental contracts that they suspect were awarded at knockdown prices under the previous military-backed administration of President Thein Sein.

No further bidding round for PSC blocks
There are no immediate plans to hold another bidding round for the oil and gas blocks in Myanmar, a senior official from the Ministry of Electricity and Energy (MOEE) told The Myanmar Times.
Myanmar Times 

Following the money trail for Magway’s missing oil revenue
Frontier digs deeper into the K7.5 billion oil tax scandal in Magway Region involving the former chief minister and finds murky business links, conflicted lawmakers and a government putting political expediency above the rule of law.
Frontier Myanmar 

Myanmar has world’s 9th ‘most neglected’ refugee crisis
Today the Norwegian Refugee Council (NRC) released a list of ‘The world’s most neglected displacement crises’ for 2016, and Myanmar was ranked No. 9, between Ukraine and Somalia.

MPs back green cities project
The Lower House approved a proposal to urge the government to systematically implement green land projects in Nay Pyi Taw, Yangon, Mandalay and Pyin Oo Lwin as soon as possible.
Eleven Myanmar 

Fuel market set for shake-up as Puma gets MIC green light
Puma Energy has become the first foreign investor to be granted permission to import, distribute and sell fuel, in a move that could herald a shakeup of the retail market.
Frontier Myanmar 

Avacta Group PLC (AVCT.L) and Myanmar Investments Inte (MIL.L) Seeing Needle Moving This Session
Shares of Avacta Group PLC (AVCT.L) are moving on volatility today -1.55% or $-1.50 from the open. The LSE listed company saw a recent bid of $95.00 and 1000 shares have traded hands in the session.
Lenox Ledger 

Dentons launches Myanmar office
Dentons has launched an office in Myanmar through the acquisition of a seven-strong local team led by partner Mark Livingston.
Global Legal Post 

Myanmar to strengthen disaster response systems
Myanmar announced plans yesterday to strengthen its disaster response systems in the wake of Cyclone Mora, which killed scores of people in neighbouring Bangladesh and left thousands homeless in both nations, state media reported on 2 June.

Watchdog accuses companies of mining in Kachin with expired permits
Mining companies in the Hpakant and Lone Khin jade mining areas have been operating in each other’s existing licensed plots after the expiration of their licenses, resource watchdog and advocacy group Global Witness and Kachin Development Networking Group (KDNG) said.
Myanmar Times 

Mandalay, gateway to India, China: US firms
To pave the way for making this a reality, a high level business delegation led by the American Chamber of Commerce in Myanmar (AMCHAM Myanmar), visited Mandalay and met with government officials.
Myanmar Times 

Riverine trade boost after Mandalay Jetty upgrade
The Mandalay Jetty will be upgraded at a cost of US$38 million in an effort to promote riverine trade in the region, according to the Regional Minister for Electricity, Industry and Construction U Zarni Aung.
Myanmar Times 



Feature photo EU/ECHO/Pierre Prakash
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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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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