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Invitation for Open Tender of Teak & Hardwood, Myanma Timber Enterprise, Audition Date 24,25 and 28 Jan 2019

Myanma timber enterprise will sell teak & hardwood round logs and sawn timbers by open tenders in US Dollars. Particulars of the open tender sales are as follows: a. Date & Time -(24-1-2019) (09:00) A.M Ex-Site Hardwood Log Only (25-1-2019) (09:00) A.M Yangon & Ex-Site  Teak/Hardwood (Log and Conversion) (28-1-2019) (12:00) A.M Yangon Teak Log […]

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 […]

Cross-border trade slows due to renminbi fluctuations

Fluctuations in the value of the renminbi are having an adverse effect on China-Myanmar cross-border trade traders in Muse have told The Myanmar Times. China’s renminbi is the currency of choice for trade in the border region and a 10 percent drop in value is enough to cause businesses to lose money on deals, say […]

Local fuel price hikes continue

Local fuel prices have increased by over 21 percent in over four months as dollar and global oil prices increase again, according to local petrol stations. On Wednesday in the local market, maximum prices fixed by Myanmar Fuel Oil Importers and Distributers Association were K1,095 for one liter of diesel (K4,978 per gallon), K1,105 for […]

Ordinary folk feel the pinch from tumbling kyat

The downward spiral of the kyat against the US dollar has taken its toll on the prices that people have to pay for everyday items like rice, fish, meat, and vegetables. Housewives complain that even the prices of salt, fish paste and other condiments that are staples for ordinary folk have increased. The prices of […]

Business Community Counters Gov’t Reasons for Kyat Depreciation

While Myanmar’s government has blamed currency manipulation and the trade war between the United States and China for the record depreciation of the kyat against US dollar, business circles are pointing out the Myanmar government’s mismanagement and the Central Bank of Myanmar’s poor performance. The kyat-dollar exchange rate has increased steeply from 1,344 kyats per […]

Greenback appreciation costs textile industry

Due to the greenback appreciation, local textile industry is making losses, according to Myanmar Textile Entrepreneurs Association. The value of a US dollar has increased from Ks1,500 in early September to Ks1,650 on September 20. Yin Yin Moe, Secretary of Myanmar Textile Entrepreneurs Association said: “The greenback appreciation has impacts on local garment industries as […]

Myanmar notes record high gold price

The price of gold has reached a record high of about 996,500 Kyat per tical on 14 September, thanks to the rising US dollar exchange rate, according to a report in the Global New Light of Myanmar on 15 September. According to the markets the global gold price stands at US$1,206 per ounce at present. […]

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 […]

UMFCCI suggests four points for the country’s economy

Zaw Min Win, President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) submitted the four-point suggestion to Myanmar State Counsellor Aung San Suu Kyi. On August 27, Myanmar State Counsellor Aung San Suu Kyi held a talk with local entrepreneurs at Nay Pyi Taw. The four points are: export promotion, […]