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Inflation higher than expected in first half of 2018-19

Inflation in the first six months of the current fiscal year of 2018-19 exceeded the government’s forecast by 2.7 percent, U Maung Maung Win, deputy minister of the Ministry of Planning and Finance, said at the Pyidaungsu Hluttaw meeting held yesterday. Inflation averaged 7.3 percent during the six month period ending in March compared to […]

Invitation For Open Tender, The Republic Of The Union Of Myanmar, Ministry Of Electricity And Energy, Myanma Oil And Gas Enterprise, Closing Date 26.12.2018

Open tenders are invited for supply of the following respective items in United States Dollars and Myanmar Kyats. Sr. No. Tender No. Description Remark a. IFB-035(18-19) Spare for VSAT (1) Set US$ b. IFB-036(18-19) 6” and 4” ERW Steel Line Pipe (2) Items US$ c. DMP/L-139(18-19) NDT Services for 20” Domestic Natural Gas Pipe Line […]

Falling kyat may put pressure on foreign debt

The falling value of the Myanmar kyat versus the US dollar could make repaying external debt harder for the government in the coming fiscal year. In 2018-19, it is expected to repay K877 billion out of the $9 billion Myanmar owes to foreign creditors, according to the budget submitted for the period. That amount may […]

CBM permits trading of dollar swaps, says local banks reason for kyat drop

The Central Bank of Myanmar (CBM) will this week launch a new currency swap facility in efforts to stabilise the value of the Myanmar kyat, U Bo Bo Nge, deputy governor of CBM, told The Myanmar Times on August 19. The move follows a 6 percent deprecation in the value of the Myanmar kyat versus […]

CBM intervenes in forex market, considers liquidity measures

Despite attempts to inject liquidity into the foreign exchange market and stabilise the dollar-kyat exchange rate by the Central Bank of Myanmar (CBM), the dollar has continued to appreciate against the kyat. On August 14, the CBM set its reference at a high of K1,460 to the dollar. Since May, the dollar has risen by […]

Central Bank Drops Exchange Rate Limits

YANGON — The Central Bank of Myanmar announced on Monday that private banks and exchange counters are no longer required to trade within the official exchange rate band in a move meant to help prevent price manipulation and settle recent fluctuations. The announcement does not explicitly say whether the Central Bank was adopting a floating […]

Yangon Contractors Face Trouble

Due to the dollar rate appreciation, bad weather, and a sluggish market, contractors are facing difficulties and troubles. In order to address the issue, an event was held at The Sky Star Hotel on July 21. The event that was drafting the Apartment Law gave the opportunity for many to express their feelings. Feelings of […]

MPPE Tender for High Speed Diesel. Closing Date: 8 February 2018.

TENDER NO. MPPE / HSD / T / 2 (2017 – 2018)] 1. Open Tender is invited for the Myanma Petroleum Products Enterprise, Ministry of Electricity and Energy for the supply of High Speed Diesel (376,000 ± 10% Barrels) 2. Tender Closing Date & Time – 8 – 2 – 2018, 12:00 Hrs 3. Tender […]

Open tender for MPPE High Speed Diesel. Closing Date: 12 October 2017

Subscribe to our tender alert mailing list Invitation for open tender (4/2017) [Tender no. Mppe / hsd / t /1 (2017 – 2018)] 1. Open Tender is invited for the Myanma Petroleum Products Enterprise, Ministry of Electricity and Energy for the supply of High Speed Diesel (658,000 ± 10% Barrels) 2. Tender Closing Date & […]

Unregulated and untaxed: Casino on Thai border Thrives

When we arrive at the Border Guard Force checkpoint, security guards look us up and down, then ask if we are coming to the casino. It’s 8pm. We nod and are allowed in. The 24-hour 999 casino is located on the bank of Kayin State’s Thaung Yin river that separates Myanmar and Thailand, dividing Myawaddy […]