Business

Average inflation rate hits 5.50 pc in August

 

The average inflation rate in late August stood at 5.50 per cent, a slight increase compared with 5.02 per cent in late July, according to the Consumer Price Index (CPI) and Inflation Rate by the Central Statistical Organisation (CSO).

The average inflation rate has increased for five consecutive months.

In late August, Mandalay topped the list of inflation with 10.41 per cent, followed by Rakhine with 9.46 per cent and Ayeyarwady with 6.75 per cent.

KoneSi set to digitise Myanmar’s logistics sector

 

RETAILERS will no longer need to bother about logistics and fleet operators now have no worries about empty runs in Myanmar thanks to an innovative technical solution launched earlier this year, according to SoePyaeAung, co-founder and chief operating officer of KoneSi Freight Co.

Domestic fuel prices soar within three and a half months

 

Farmers unhappy about onion price hike when low stock

Pakkoku- Onions farmers are earning less profit as Onion prices are climbing higher when there are so little produce left in the hands of the farmers to sell.

At present, One viss (1.6 kilograms) of onions has reached over Ks1,000 (US$0.7) as the demand rises, sources say.

When the onion enters markets in the Pakkoku region, from May to end of August, the highest price of one viss of onion may only reach up to Ks600 wherelse in September, when there is little to no stock left with the onion producers, the price is higher.

Capital: the biggest challenge of boosting marine product exports

 

Capital investment is a major challenge in attempts to boost marine product exports, said Win Kyaing, General-Secretary of Myanmar Fishery Federation (MFF).

In 2018-2018 fiscal year, the MFF’s marine product exports is expected to hit US$700 million. According to the project drafted until 2025, marine product export earnings will increase by US$ four to five billion during seven years, Win Kyaing added.

Actual FDI inflows hit over $ 26 billion

 

From 1988 to 2017, the actual inflows of foreign investments reached over US$ 26 billion even though the government allowed US$ 76 billion foreign investments, according to International Investment Position.

Myanmar signs $80m-loan agreement with ADB for GMS Corridor Towns Development Project

The Ministry of Construction has signed an agreement to loan US$80 million from Asian Development Bank for a development project for the towns along east-west economic corridor of Greater Mekong Sub-region.

The signing ceremony took place at the meeting hall of the ministry in Nay Pyi Taw on September 13.

Yangon gov’t makes losses in bus services: Auditor General

 

Yangon Region government took a loan of Ks-eight billion from Ayeyarwady Bank as it had no sufficient money to buy 1,000 new buses, according to an audit report submitted by Khin Than Hla, Yangon Region Auditor General for 2016-2017 fiscal year, at the session of Yangon region parliament on September 14.

MIC approves citizen investment of over K968 bn in more than five months

Myanmar Investment Commission (MIC) approved a total investment of K968.866 billion made by local citizens in regions and states across the country from April to earlier this month, but the amount has declined by ov

SCG foresees higher growth next year

Despite bright outlook for Myanmar in the coming years, the Siam Cement Group (SCG)’s growth target for the country this year may be hit by inflation and flooding across the country, said SurachaiPomjindachote, the Thai firm’s country director for Myanmar.

"For this year, Myanmar is facing floods and inflation, so total growth of the country might fall below target,” he said in an interview. 

“But in 2019, we foresee higher growth compared to this year’s.”