Myanmar Morning News For May 3

Myanmar Morning News For May 3
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Myanmar morning news

World Bank US$200m loan to develop macroeconomic stability and fiscal resilience
The World Bank said that at the end of May, Myanmar reforms and the country’s poverty reduction efforts and efforts to maintain macroeconomic stability will be given financial assistance.
— Myanmar Times

Yoma Strategic, Norfund to invest $2m in Myanmar rural power JV
Singapore-listed Yoma Strategic Holdings announced today that it has teamed up with the Norwegian Investment Fund (Norfund), a state-owned investment fund, for a $2 million initial investment in micropower plants and mini grids in Myanmar.
— Deal Street Asia

Govt expects to earn US$29 billion from foreign trade in 2018
The government is expected to earn US$29 billion from foreign trade in the 2017-18 fiscal year, according to Permanent Secretary Toe Aung Myint from the Ministry of Commerce.
— Eleven

Japanese firm opens $12.2m concrete products factory in ministry joint venture
Tokyo-based heavy industry company IHI Corp has opened a multi-million dollar pre-stressed concrete factory near Yangon in a joint venture with the Ministry of Construction, Kyodo newsagency reported.
— Frontier Myanmar

IFC launches its sustainability guidelines in Myanmar language
The International Finance Corporation, a privatesector arm of the World Bank Group, last week released a Burmeselanguage verฌsion of its Performance Standards on Environmental and Social Sustainability.
— Consult-Myanmar

Myanmar sees gains in rice, corn production
Rice and corn production in Myanmar is expected to increase in the 2016-17 marketing year, while production of wheat is forecast to fall, according to an April 20 report from the Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture (USDA).
— Consult-Myanmar

YBPC to acquire new buses with K70 billion
Yangon Bus Public Company (YBPC) will spend K70 billion, which is entrusted at the Ayeyarwady Bank, for acquiring new buses, according to the regional minister for finance and planning U Myint Thaung.
— Myanmar Times

About Ks 880 million worth WY-stimulants seized in Maungtaw
About 440,000 WY-stimulant tablets worth Ks 880 million were seized at 3-mile inspection gate in Maungtaw Township, Rakhine State on the morning of 1st May.
— Global New Light Of Myanmar

Low property tax revenue despite higher sales
There is a shortfall in revenue collection in the real estate sector despite the fact that all sales in the Mandalay Region are subject to a 10 percent tax on the profit gained from the initial price.
— Myanmar Times

Gov’t takes steps to protect people from ravages of climate change
The Union Ministries have teamed up to manage all the water resources of Myanmar to fight flood and drought induced by climate change.
— Global New Light Of Myanmar

BreadTalk Myanmar eyes 300,000 customers a year
AFTER the grand opening of its first outlet in Myanmar on Saturday, BreadTalk, an Asian boutique bakery chain, expects soon to be serving nearly 300,000 customers in this country every year.
— Eleven

Prospectors Sued After Finding Massive Jade Boulder on Company Land
Five prospectors who found a jade boulder weighing 8.7 tons have been charged with theft in Kachin State’s Lone Kin jade mining region.
— The Irrawaddy

Myanmar, EU at Odds Over Rohingya Rights Mission
The European Union clashed on Tuesday with the visiting leader of Myanmar, Aung San Suu Kyi, by publicly supporting an international mission to look into alleged human rights abuses by the country’s security forces against Rohingya Muslims.
— Voice of America

Myanmar Authorities Continue Probe of Funds Skimmed From Magwe Region’s Coffers
Authorities in Myanmar are continuing to investigate the alleged embezzlement of regional development funds in the Magwe region and review a claim of 4 billion kyats (U.S. $2.9 million) supposedly used for regional development in the central part of the country.
— Radio Free Asia


Feature photo Gero Birkenmaier
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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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