Gold prices start year off with a bust

The continued devaluation of gold abroad has led to a 14.73 percent drop on the local markets over the past year, shop owners said. The current market price of one tical of 24 karat gold (one tical equals 0.576 ounces) now sits at K648,000 (equivalent to US$1133 an ounce), down from the K760,000 gold sold […]

Govt Denies Report of Helicopter Maker’s Yangon Factory Plans

YANGON — Myanmar’s Department of Civil Aviation says there are no plans to allow a foreign helicopter company to open manufacturing operations in Yangon, refuting a recent report by the local Yangon Times daily. On Monday, the Yangon Times reported that US-based Robinson Helicopter Company was planning to open a factory in either Thanlyin or […]