Jade Trade: Official Export Earnings Down for 2015

RANGOON — Revenue derived from Burma’s official jade exports declined in the first nine months of the 2015-16 fiscal year, as the lucrative industry continues to draw fire over safety, ethical and environmental concerns. According to figures from the Ministry of Commerce, US$567 million in revenue was derived from jade exports from April to December […]

Funds cleared for Yangon’s new airport

YANGON, 4 February 2016: A framework agreement to facilitate Official Development Aid (ODA) loans for the construction of Hanthawaddy Airport Development was signed late last week. Official media, Global New Light of Myanmar, quoted Transport and Rail Transportation Minister, U Nyan Tun Aung, saying that following a series of meetings between Department of Civil Aviation […]

Yangon invites tender for importing city buses

YANGON, July 14 (Xinhua) — The Yangon region government invited tenders for importing city buses for operating along main routes in Yangon as part of an upgraded public transport network, allowing any registered companies to submit tender by the end of this month, official media reported Tuesday. A public bus service company to run the […]

Central Bank Eases Forex Access for Importers of Some Commodities

RANGOON — The Central Bank of Myanmar will allow the unrestricted sale of foreign currencies at official rates to importers of edible oil, fuel and cement, rolling back a policy that had limited withdrawals in an apparent bid to ward off supply shortages and a rise in the commodities’ prices. The state-run Global New Light […]

Yangon to promote urban mobility planning

YANGON, April 25 (Xinhua) — The Yangon municipal authorities will promote an European Union-funded project on sustainable urban mobility planning for the city , official media reported Saturday. The project entitled “Sustainable Urban Mobility Planning” is being implemented by Yangon City Development Committee (YCDC) in cooperation with the Italian City of Turin and two Italian […]

Myanmar’s trade deficit jumps 88%

Myanmar’s trade deficit jumped 88% in the fiscal year that ended on March 31, driven by rapid economic expansion in the formerly military-ruled country, state media and a Commerce Ministry official said today. Myanmar’s economy was held back by mismanagement, corruption and the refusal of Western countries to trade and invest because of human rights […]

South Korea urged government to end labour protests

When Yangon labourers from five foreign-owned factories reeled out the picket lines and demanded a meagre pay boost at the end of January, their calls were initially dismissed. Two weeks later, however, the government shifted into overdrive to quell the demonstrations at the behest of the South Korean embassy, The Myanmar Times has learned. After […]

Questions Remain Over Chinese Involvement in Myanmar Violence

Violent clashes between government troops and ethnic rebels have continued unabated in Myanmar’s northern Shan state since February 9. The fighting, which pits the Myanmar National Democratic Alliance Army (MNDAA) of the Kokang ethnic group against the national army, has sparked accusations that China has a hand in the conflict (the Kokang are ethnically Chinese). […]

World solar flight to make stopover in Myanmar next month

World solar flight to make stopover in Myanmar next month YANGON, Feb. 25 (Xinhua) — The first around-the-world solar flight, Solar Impulse 2 (Si2), is expected to make a stopover in Mandalay, the second largest city of Myanmar on March 10, official media reported Wednesday. Scheduled to stay for three day at Mandalay International Airport, […]