Business

FMI Group to move forward after record revenue in FY2018

 
FIRST Myanmar Investment Group (FMI), one of the five companies listed on the Yangon Stock Exchange, says it will keep investing in four key sectors - financial services, healthcare, real estate and tourism - after posting record-high revenue for fiscal year 2018. 
The company booked more than 200 billion kyats in sales for the financial year that ended on March 31.

Rubber export earnings decline

 

Rubber export earnings declined during two-and half-month mini budget period due to a drop in global rubber price, according to the Commerce Ministry.

Myanmar exported more rubber than the previous year in two-and half-month fiscal year.

CMP garment’s export earnings up $ 382 m

 

Garment sector earned US$ 759.172 million from exports of CMP garment, up US$ 382 million from the same period last year, according to the Commerce Ministry.

Khin Maung Lwin, assistant permanent secretary of the Commerce Ministry said: “Last year, export earnings from the CMP garment sector reached US$ 377.031 million.”

The Commerce Ministry has prioritized the textile sector (garment) in a bid to promote the export sector.  

Economist urges businesspeople to join UN Global Compact to facilitate fight against corruption

Dr Aung Tun Thet, one of Myanmar's well-known economists, has urged local entrepreneurs to join UN Global Compact to help fight against corruption during an Anti-Corruption Declaration ceremony held at the headquarters of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) held in Yangon on July 2.  

Myanmar expects to export 2.5 million tons of rice this year

Myanmar Rice Federation (MRF) expects to export 2.5 million tons of rice this year, said Ye Min Aung, general secretary of MRF.

Angumaw-Maungdaw upgrading road project already completed 33 km long

YANGON- The US$22 million upgrade of Angumaw-Maungdaw road by Asia World Foundation has finished up to 33 kilometers, according to the Asia World Foundation.
 
The Angumaw-Maungdaw concrete road is a crucial contributor towards multiple economic and social sectors. The natural size of the road spans 20 ft in width with a height of 6 inches. The concrete poured above is 18 feet wide and 9 inches high. 
 

Ministry plans to stabilise fuel oil price

 

In an attempt to control rising fuel oil prices, eight State-owned fuel filling stations will directly sell fuel at a fair price as of July 1, according to the Ministry of Electricity and Energy.

Rising fuel prices are coupled with an increase in the global fuel price and currency exchange rates. The ministry will sell gasoline produced by Petrochemical Factory (Thapayarkan) under Myanmar Petrochemical Enterprise (MPE), at a fair price, to small vehicles and motorbikes.

Inflation rate hits 4.29 pc in May

 

The average inflation rate in late May stood at 4.29 per cent, a slight increase compared with 4.12 per cent in late April, according to the Consumer Price Index (CPI) and Inflation Rate by the Central Statistical Organisation.

Over $231m paid so far for Chinese oil and gas loans

Myanmar loaned over US$1.6 billion from China for three oil and gas projects and has paid back over US$231 million plus interest of over US$418 million, according to a press conference on the r

Mahar mobile app offers Myanmar movies and videos

Mahar, a new mobile application, offers online viewing of Myanmar movies and videos through their app.
The app, created by Mahar Entertainment and telco giant MPT, offers as low as Ks 99 during the promotion period per video or movie. When the promotion period ends, a customer can expect to cost around Ks 150.
A launching ceremony was held at the Mynamar Movie Association on June 27 where they first official put their product out into the mass market with 4,000 movies and videos watchable with more to be added gradually.