Non-agribusiness receives only 1% bank loan: WB reports

Among more than 1,000 foreign and domestic non-agricultural businesses interviewed in the report, only 1 percent of fixed-asset investment costs are financed by bank borrowing, while 92 percent of firms rely on their own funds – a percentage higher than that of any other comparable country, according to the World Bank Group’s first Investment Climate Assessment report in Myanmar.

Local Hip-Hop artist’s drug abuse trial begins

“X-Box” and accomplices being brought in for their trial (Photo: Thet Min)
A local Hip-Hop artist, going by the moniker “X-Box”, and three friends who have been arrested for drug abuse were brought to Bahan Township court on the first of September.
The party were arrested on 18th August at 1 a.m. at the police checkpoint situated at the corner of Nat Mauk Street and Pho Sein Street where the vehicle of the perpetrators was passing through. The police searched the car and found marijuana.
The Bahan Township judge extended their detention period by two more weeks.

Trial for Letpadan student protestors stopped before completion after a row

The fifteenth trial of detained students and their supporters who staged a protest march in Letpadan Township, Bago Region, in March demanding education reform took place at the Thayawady Township Court yesterday.  The trial however was not completed and it was stopped in the middle of session after the judge refused to hear an appeal of the students' lawyer, sparking a noisy row. 

Families of Deceased sailors still to receive compensation

Families of sailors that passed away during the sinking of a Russian fishing trawler in April this year have yet to receive compensation from the companies that employed the sailors.

Flood victims likely to stay at relief camps till October

Flood victims in Kalay Township are expected to stay in relief camps until next month according to locals.

Mandalay-Myitkyina freight trains’ services stop temporarily as a freight train derails in Mogaung

Mogaung – Railway authorities have temporarily stopped the services of freight trains between Mandalay-Myitkyina as a freight train derailed at Mogaung on August 31, a deputy station master of Mandalay train station said.

The Ministry of Information stated on the evening of August 31 that three carriages of the freight train are derailed between Taungni and Htichai villages and no casualties were reported.

Four election candidates in Mandalay rejected

Four parliamentary candidates in Mandalay Region were barred from running for the election after the inspection of candidate lists was finished yesterday.

The four rejected candidates are two from the National League for Democracy (NLD) and one from the Federal Union Party and one independent candidate.

Ayeyawady river overflows again

The rivers Ayeyawady and Ngawunhave overflown and reached dangerous levels respectively, reports say.

The Ayeyawady river water reached the dangerous level 48 ft at Ingapu Townshipon Monday morning and got higherl by 0.10 ft in that evening.

The water levels areata point 0.75 ftbelow the danger level of 44 ft in Hinthada Township, and at 1.3 ft under the danger level of 38.05 ft in Zalun Township.

Additionally the Ngawun river water reached about the danger level 34 ft of Laymyatnar Township.

Seven NLD candidates rejected from across the country

Seven out of National League for Democracy’s1138 proposed candidates have been rejected by district election commissions, said NLD’s spokesperson Nyan Win on August 31.

“They have been rejected by district commissions. We will appeal to the union commission. We still have the time to do so. We’re now preparing,” said Nyan Win.

The rejected NLD candidates are from Shan, Kayah, Rakhine, Kachin states and Mandalay Region.

Careless actions damage environment

Careless mining on natural resources and taking advantage of weakness in existing mining laws by investors is causing major environmental impact according to Mata Group.

“Investors are not following rules and regulations because of a lack of enforcement and weaknesses in the existing law which was enacted a long time ago and has never been amended to fit with the current situation. Some are mining illegally. Most investors are doing it for their own benefits without thinking of any concerns,” Zaw Lwin, a member of the Mata Group said.