Domestic fish industry flounders due to COVID-19 pandemic

The COVID-19 impacts resulted in less fish consumption, according to the Myanmar Fisheries Federation (MFF). The coronavirus pandemic shut down the wedding, donation events, festivities and restaurants. It also poses difficulties in transportation. The restrictions caused a slump in fish consumption in the local market. Moreover, the individual income loses from heightened COVID-19 measures such […]

Nearly 15,000 cattle stranded in Muse cause high feedstuff cost

About 70 companies of cattle stranded in Muse are arranging to bring the cattle back to their home owing to the burden of labour wages and high feedstuff cost, said U Soe Naing, chair of Mandalay Region Cattle Exporters Association. “It costs K400,000-600,000 to take care of 100 heads of cattle every day. It includes […]

Construction of Ayeyarwady coastal expressway to start this year

Implementation of the Ayeyarwady Coastal Region Development Project, an expressway connecting Ayeyarwady Region and Rakhine State listed under the Myanmar Project Bank, will start from this fiscal year, according to the Ministry of Construction. The project is estimated to cost US$94 million and expected to be complete in fiscal 2023-24. The project will involve the […]

Korean Air Suspends Direct Flights Between Seoul, Yangon Due to Coronavirus

YANGON—Korean Air, a major South Korean airline, has suspended direct flights from Seoul to Yangon, Myanmar’s commercial hub, amid the rapid spread of coronavirus (COVID-19) in South Korea. On Wednesday, Korean Air announced that it would be suspending direct flights to Yangon from Incheon International Airport near Seoul from March 5 to April 25 due […]

Extractive businesses asked to disclose ownership information

Companies and state-owned enterprises (SOEs) involved in Myanmar’s oil and gas production and transportation, mineral and gemstone industries are required from January 1 onwards to publicly disclose information on beneficial ownership and politically exposed persons. This is in accordance with Notification No.104/2019 dated October 2019 and in line with Requirement 2.5 of the Extractive Industries […]

Thai property developer wants to invest in Myanmar

Thai property developer Ananda Development Public Co Ltd wants to expand into Myanmar and is now looking for suitable partners in the country, its officials told Myanmar journalists in Bangkok on October 9. The company will focus on urban projects in Myanmar and is now exploring the various avenues through which it can invest in […]

National plan mooted for 2019-2020, gdp growth to hit 7pc

Parliament has approved the new National Plan law for fiscal 2019-20, which will be effective from October 1, 2019 to September 30, 2020. The National Plan is expected to help Myanmar’s GDP grow by 7 percent to K95.4 billion during the period compared to 6.8pc in fiscal 2018-19. Contributing to economic growth is the financial […]

Company of Former Myanmar Dictator’s Grandson Among 4 Sued for Unpaid Loans

YANGON—AYA Bank, one of the largest private banks in Myanmar, has sued four companies— including one owned by a grandson of late military dictator Gen. Ne Win—for unpaid loans, according to the Yangon Region High Court. The bank has sued Omni Focus Co, owned by U Ne Win’s grandson U Kyaw Ne Win, along with […]

In Myanmar’s Commercial Capital, Mayor’s Sidewalk Store Plan Draws Criticism

YANGON—A plan by the mayor of Myanmar’s commercial capital to install mini convenience stores next to bus stops has Yangonites and regional lawmakers crying foul. They say the plan will only further reduce the already scarce space for pedestrians on its narrow sidewalks. Yangon Mayor U Maung Maung Soe announced the plan during a press […]

Myanmar strategic annual revenue jumps after exera buy but loss widens

Myanmar Strategic Holdings Ltd on Tuesday said its revenue multiplied in its most recently ended financial year, but loss widened amid higher costs. The guarding, protective, transportation, and training services provider said its loss widened in the year to the end of March to USD2.6 million from USD2.1 million reported a year prior, due to […]