Myanmar Morning News For May 11

Myanmar Morning News For May 11
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Myanmar morning news

Police fire shots to break up Myanmar nationalist, Muslim scuffle
Police in Myanmar fired warning shots to break up scuffles between Buddhist nationalists and Muslims in Myanmar’s biggest city in the early hours of Wednesday (May 10) after a crowd went hunting for “illegal” Rohingya.
– Channel NewsAsia

Trafigura-backed oil firm opens $92 mn Myanmar terminal
An oil company backed by global commodities giant Trafigura has opened a $92 million oil and gas terminal in Myanmar to cash in on growing energy demand from the fast-expanding economy.
– mizzima

Myanmar’s First Private Bank to digitalize operations with Misys
Myanmar’s First Private Bank (FPB) has chosen Misys FusionBanking to streamline operations and digitalize.
– Fintech Innovation

Myanmar Digest: LS Cable to form JV; Paradiso spends $2m on cinema project
Korean power cable producer LS Cable & System has received the government’s approval to invest $19 million in a power cables factory in Thilawa SEZ, while Myanmar Investment Group’s joint venture company Paradiso Cinema Co Ltd has so far used $2 million on building cinemas in Myanmar.
— Deal Street Asia

Drilling success in Magway will provide water for 1,400 villagers
A successful tube well that struck water in a village in Magway Region on Tuesday will provide sufficient drinking water to about 1,400 villagers.
— Global New Light Of Myanmar

Fuel storage terminal with US$92m FDI to start operation at Thilawa port
The first and largest fuel storage terminal in Myanmar, which has involved US$92 million of investment, opened during the first week of May, said officials from Puma Energy Asia Sun (PEAS).
— Myanmar Times

Rice exports declined in April
The export volume of rice and broken rice through normal trade and border trade camps are found to have significantly declined in April compared to that of the previous month, according to the Commerce Ministry.
— Global New Light Of Myanmar

Foreign investors keen to open petrol stations
Foreign investors are very keen to open petrol and fuel filling stations in Myanmar. The Myanmar Investment Commission (MIC) says companies have asked if they are allowed to open domestic fuel stations.
— Consult-Myanmar

Myanmar takes measures to control price manipulation in industrial zones
Myanmar authorities are introducing measures to minimize and eliminate price manipulation of industrial zones by constantly inspecting and supervising business operation there, official media reported Monday.
— Mizzima News

Bagan cultural zone to be included in UNESCO
A draft plan to designate Bagan as one of the World’s Heritage sites will be submitted to the United Nations Educational, Scientific and Cultural Organization (UNESCO) in September.
— Myanmar Times

13 parties lodge complaint against State Counsellor, NLD
Thirteen political parties, including the Union Solidarity and Development Party, have submitted a letter of complaint to the Union Election Commission, demanding action to be taken against the State Counsellor and her party’s two senior officials regarding a report on the government’s first year in power.
— Myanmar Times

IFC calls for effective resource management in Myanmar
AS MYANMAR has been striving for rapid development since the National League for Democracy took office, the nation urgently needs to focus on sustainable management and development of its natural resources, according to the International Finance Corporation, a private-sector arm of the World Bank.
— Eleven

Myanmar keen to set up border ‘haat’: Indian official
Myanmar is keen to set up a border ‘haat’ (market) on its border with India and an official team from the neighbouring country visited Kasba market in Tripura to study its functioning, an Indian official said here on Wednesday.
— Morung Express

Oway Ride set to grow further despite foreign rivalry
THE vision of the entrepreneurs behind Oway Ride, Myanmar’s first ride-hailing application, will not be dimmed by the entry foreign players like Uber and Grab as the local firm aims to cooperate with nearly 10,000 taxi drivers in its operation by the end of this year.
— Eleven

Siemens, MMH join hands for port operations
Siemens, a global powerhouse focusing on the areas of electrification, automation and digitalisation, plans to expand its business in Myanmar by providing Myanmar’s ports with technology and solutions in cooperation with a local counterpart, Myanmar Mahar Htun Co (MMH), according to Christian Beckers, head of business development at Siemens Myanmar and Cambodia.
— Eleven

Myanmar, France chambers sign pact for stronger economic ties
Though investment by French firms in Myanmar has accounted for less than 1 per cent of the total foreign direct investment, the figures are likely to surge over the next few years as the Union of Myanmar Federation of Chamber of Commerce and Industry on Friday signed a memorandum of understanding (MOU) with CCI French Myanmar.
— Eleven


Feature photo Daniel Lombraña González
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).


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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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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 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.

She joined AEC News Today in December 2016.

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