The European Union (EU) says it will continue to engage with countries, including Myanmar, that fall under its Everything But Arms (EBA) trade initiative. EBA is an initiative under which all imports to the EU from the Least Developed Countries are duty-free and quota-free, with the exception of armaments. The initiative is part of the […]
Read MoreInflation in 2019 peaked at 8.81 percent in December, the highest level in 12 months, according to the latest available data released by the Central Statistical Organisation (CSO). In January 2019, inflation was 6.94pc. The higher inflation levels are due to steeper electricity tariffs implemented by the government since July last year. Other reasons include […]
Read MoreThe Central Bank of Myanmar (CBM) may consider reducing interest rates to better align with high inflation rates should the need occur, vice governor U Soe Min said at the Pyidaungsu Hluttaw on February 10. The current bank interest rate is 10percent while the minimum deposit rate is set at 8pc and maximum secured lending […]
Read MoreMyanmar will soon set standards to ensure the quality of locally produced and imported steel and iron, a senior official said. U Kan Chun, managing director of No.1 Heavy Industries Enterprise under the Ministry of Planning, Finance and Industry, said standards will be published this year for deformed bar, three types of hot-rolled plate and one […]
Read MoreThe coronavirus outbreak in China has caused trade between Myanmar and its neighbor to slow to a trickle, trade officials say. The clearest example of this is the plunge in the volume of watermelons from Myanmar that are crossing the border to the east. “About 600 truckloads of Myanmar’s watermelons used to cross the border […]
Read MoreThe Pyidaungsu Hluttaw (Assembly of the Union) has approved the acceptance of a €50 million loan from Poland to be used for a waste-to-energy project in Yangon. The approval of the loan was granted during the sitting of the assembly on January 31, with 534 votes for and 12 against. The project will be implemented […]
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