Myanmar Morning News For October 20

Myanmar Morning News For October 20
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Myanmar morning newsGovernment to borrow K1 trillion from CBM to fund budget deficit
The government has requested for a loan of more than K1 trillion from the Central Bank of Myanmar (CBM) to fund the budget deficit for the 2017-18 fiscal year. The request was submitted to the Pyidaungsu Hluttaw on October 17.
— Myanmar Times

UNICEF: Rohingya children refugees face ‘hell on earth’
UNICEF says the children who make up most of the nearly 600,000 Rohingya Muslims who have fled violence in Myanmar are seeing a “hell on earth” in overcrowded, muddy and squalid refugee camps in neighboring Bangladesh.
—Arab News

Myanmar army accused of crimes against humanity
Myanmar’s security forces stand accused of crimes against humanity, with the latest report from rights group Amnesty International documenting breaches of at least six items of the 11 detailed in the Rome Statute.
— UCA News

Labour confederation wants new K6600 minimum wage
The Confederation of Trade Unions in Myanmar (CTUM), the country’s largest workers organisation, will fight for K6600 daily minimum wages despite warnings by some businessmen that a minimum wage of K4800 could lead to closures of some businesses, said a senior CTUM official.
— Myanmar Times

Myanmar, Once a Hope for Democracy, Is Now a Study in How It Fails
Nearly a decade into Myanmar’s transition out of military rule, the country’s once-celebrated transition toward democracy is hardening into something very different from what activists and world leaders had hoped for.
— New York Times

Fire destroys landmark hotel in Myanmar’s largest city, kills one
One person was killed on Thursday in a massive fire that destroyed one of Yangon’s best-known hotels, sending dark smoke billowing over the center of Myanmar’s largest city and triggering an hours-long battle to put out the flames.
— Reuters

Educating for Myanmar’s future
The violence that has ravaged Myanmar’s Rakhine state underscores the challenges the country faces on its bumpy road from military rule to democracy.
— The Jordan Times

Woodside strikes out offshore Myanmar
Australian explorer Woodside’s latest exploration wells offshore Myanmar were non-commercial or dry, the firm has revealed.
— OE Offshore Engineer

Woodside on track for Myanmar development plan by end-2018
Woodside Petroleum played down disappointing results from its exploration wells in Myanmar on Thursday, with Chief Executive Peter Coleman saying the company is still on track to decide on development plans there by the end of 2018.
— Nasdaq

Effective policy needed to tax income from digital advertisements
Myanmar’s policy for taxing digital advertisements is lagging behind technology advancement in the country. Therefore, new policies enabling the collection of taxes from online and social media platforms should be implemented as soon as possible to raise the government’s revenue, officials from Internal Revenue Department and businessmen told
— Myanmar Times

Need to reduce consumption rises as fuel imports surge
As fuel can be imported freely from overseas, the volume and value of fuel imports into Myanmar is expected to rise this year compared to last year, U Khin Maung Lwin, Assistant Secretary from the Ministry of Commerce, told The Myanmar Times.
— Myanmar Times

IRRI research project works to improve Myanmar rice yields
An Australian-funded five-year research project led by the International Rice Research Institute (IRRI) in Myanmar is working to improve local rice farmers’ ability to adapt to agricultural challenges and respond to market opportunities.

Young startup aims 40 per cent monthly growth
AS THE HIGH season for Myanmar tourism draws near, ezStay, an online booking platform for budget hotels and guesthouses, has set a target to grow 40 per cent on a monthly basis in its first year of business.
— Eleven

Golden City opens grade-A office tower in Yankin
Golden City officially opened Golden City Business Center (GCBC),which is a four-storey office tower in Yankin township, Yangon, on October 17.
— Myanmar Times

Is Myanmar Investments Inte (MIL.L)’s Triple EMA Building Momentum?
Myanmar Investments Inte (MIL.L) has watched the Triple Exponential Moving Average (TEMA) of it’s share price trend higher over the past 5 session.
— Pearson News

Beekeepers up efforts to export honey
Myanmar beekeepers are looking forward to exporting domestically produced honey to international markets like Europe, which is a top importer of honey, U Aung Khaing Htwe, deputy chairman of Myanmar Apiculture Association told The Myanmar Times on October 14.
— Myanmar Times

Myanmar set for First Off-Road Motorbike Competition
Off-road motorcyclists are preparing for Myanmar’s first enduro competition, a long-distance cross-country time trial to be held in Mandalay.
— The Irrawaddy

Feature photo Christian Keller
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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