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Chinese magazine’s depiction of Mandalay palace causes anger in Myanmar

The monthly magazine China Today is under fire over its cover photo for a story on China-Myanmar relations. The cover of the June issue featuring the old palace walls in Mandalay with a reflection of a Chinese palace wall in Mandalay’s moat has gone viral this week. Social media commenters said the picture undermines the […]

Bosses of Myanmar’s Controversial New Yangon City Project See Major Shakeup

YANGON—The sole developer for the controversial New Yangon City project has seen some leadership changes, as two out of five directors have been replaced. New Yangon City Development Company (NYDC) announced on Wednesday that Yangon Deputy Mayor U Soe Lwin has assumed the role of chairman, replacing Daw Nilar Kyaw. Yangon City Development Committee secretary […]

US-China tiff offers opportunity

While strolling around Yangon’s city centre recently and reading news alerts about the US-China trade war, something caught my eye at Kantharyar Centre across from Kandawgyi Lake. It was a sales gallery at the new shopping centre displaying SUVs and sedans. What caught my attention was the brand of SUV most prominently displayed: Gold AYA […]

China proposes exclusive industrial zone with Myanmar: UMFCCI

CHINESE businessmen have proposed setting up a Myanmar-China exclusive industrial zone in Myanmar, according to U Zaw Min Win, the President of The Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry. “Chinese businessmen are running factories in Hlinethaya Township. They came to us to discuss establishing a Myanmar-China exclusive industrial […]

Expect kyat to depreciate over the next two years: Fitch

The Myanmar kyat could weaken in the coming quarters as a result of renewed trade tensions between the US and China and resistance against pressure to slash interest rates by the Federal Reserve. According to forecasts released by Fitch Solutions Macro Research this month, the kyat is expected to weaken to K1600 per US dollar […]

Myanmar appoints ex-world bank economist deputy minister

The Myanmar President’s Office on Thursday appointed former World Bank economist and poverty specialist Dr. Min Ye Paing Hein as deputy industry minister. Among his responsibilities will be promoting private investment in state-owned enterprises to make them commercially viable. Aged 41, the holder of a PhD from a US university will be the youngest minister […]

Passenger growth drives +17.7% increase in retail sales at Singapore Myanmar Investco in Q1

Singapore Myanmar Investco Limited (SMI) has reported +6.4% year-on-year revenue growth for the first quarter ended 30 June 2019, to US$5.1 million. The increase was mainly attributable to a +17.7% increase in travel and fashion retail sales, to US$3,938 million, and growth in food & beverage (+56.3% year-on-year) reflecting further outlet expansion. SMI manages duty […]

Myanmar Set to Ink Pact with China on Border Cooperation Zones

The Myanmar government is ready to sign a framework agreement with China on the establishment of cross-border economic cooperation zones, paving the way for the implementation of Beijing’s grand infrastructure plans in the country as part of its Belt and Road Initiative (BRI). The assistant permanent secretary and spokesperson for the Ministry of Commerce, U […]

China’s sugar ban to be lifted or eased

There could be a sliver of light at the end of the tunnel for businesses involved in the sugar industry as a Chinese team will be in Myanmar to inspect sugar quality and the mills in a prelude to a resumption of sugar sales to China. Myanmar Sugar and Sugar Related Products Merchants and Manufacturers’ […]

Getting serious about food safety in Myanmar

Every year, unsafe food and water kill more people worldwide than HIV, AIDS, malaria and measles combined, according to the UN’s Food and Agriculture Organization (FAO). Of the approximately 600 million people who fall ill after eating contaminated food, 420,000 die. Food safety—the practices occurring along the entire food chain to ensure food does not […]