Business

MNA suffers over Ks-18 billion in loss in three years

 

Myanmar National Airlines (MNA) suffers a loss of over Ks-18 billion during three fiscal years after the transformation into the company, according the report by the Joint Public Account Committee findings on the Union Auditor-General’s finding report and comment for 2016-2017 FY.

Trade deficit hits $ 980 million

 

During four months of the mini budget year, there is now a trade deficit of US$ 980 million, according to the Commerce Ministry.

From April 1 to July this year, the total external trade numbers were recorded at US$ 11,924 million, up US$ 1,347 million compared with last year’s US$ 10,577 million.

The first Krispy Kreme shop to open in Myanmar in September

The first Krispy Kreme shop will open at the first floor of Times Link Mall in Yangon in September, according to Krispy Kreme Myanmar.

Myanmar sells 6,841 new cars until 2018 June

Myanmar sold out 6,841 brand new cars until 2018 June, with a 114 percent rise compared to the same period of the previous year. Among ASEAN countries, Myanmar stands at the top in development, reported by ASEAN Automotive Federation.
 
Until the end of 2018 June, Indonesia sold 553,779 cars, Thailand, 489,118 cars, Malaysia, 289,714, Philippines, 171,590 cars, Vietnam 125,659 cars, Singapore, 48,443 cars, Myanmar, 6,841 cars, and Brunei, 5,690 cars.

Average inflation rate expected to hit 5.91 pc in 2018-19 FY

 

The average inflation rate is expected to hit 5.91 per cent in 2018-2019 FY which will start on October 1 despite the local currency depreciation and rising commodity prices, according to the Ministry of Planning and Finance.

During the six-month mini budget period, the average inflation rate is expected to reach 4.89 per cent.

Small-scale gold mines to be allowed to operate in Homalin Tsp with regional govt permission

Plans are underway to allot some small-scale gold mining blocks in Homalin Township, Sagaing Region, with permission from the region government, and mining entrepreneurs are willing to receive permission as quickly as possible.

Rice export declines due to heavy rain, difficulties in transport

Export of rice within four months of this fiscal year has decreased by over 100,000 tons compared with the same period of last year, said Toe Myint Aung, permanent secretary of the Ministry of Commerce.

The secretary attributed the decline of rice export towards several reasons such as heavy rain and difficulties in export procedures as well as  transport woes.

Vocational training schools for elderly caregivers to open in Yangon

 

Myanmar will open vocational training schools for elderly caregivers in Yangon, in cooperation with Japan, according to the Ministry of Health and Sports.

On August 17, Union Minster for Health and Sports Dr Myint Htwe held a talk with officials from Polestar KAIGO Service Co., Ltd from Japan, on a plan to open vocational training schools for elderly caregiver.

FDI inflows hit over US$ 829 million in four months

 

From April to July this year, the government allowed foreign investments worth over US$ 829 million with manufacturing and telecom sectors saw the highest inflow of foreign investments, according to the Directorate of Investment and Companies Administration.

Govt official defends controversial tender process for helicopter service in offshore oil fields

An official from the Ministry of Electricity and Energy has said the tender process for providing helicopter transport services in Myanmar's offshore oil fields was carried out in line with the i