Myanmar firms look overseas to mitigate operational risks in home market
As the military coup in Myanmar weighs down heavily on business in the country, companies are increasingly trying to mitigate operational risks through geographical diversification with the hope of generating new revenue streams. Read More
|
|
Myanmar corn output, exports trending higher
Myanmar’s corn production and exports are forecast to remain high in the 2021-22 marketing year due to high price incentives, according to an Aug. 19 Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA). Read More
|
|
Telenor's Myanmar sell-off mired in uncertainty
Norwegian telecom giant Telenor Group remains stuck in Myanmar for now, despite its July announcement of the $105 million sale of its local business to Lebanese investment company M1 Group, as sources confirmed the military regime's reluctance to approve the deal. Read More
|
|
Mikati’s M1 to Invest $330 Million After Buying Telenor Myanmar
Lebanese investment firm M1 Group pledged to spend $330 million over the next three years to expand the Myanmar telecom business it’s buying from Norway’s Telenor ASA, bucking moves by many international investors to exit the Southeast Asian nation after the military seized power in February. Read More
|
|
Wave Money has lost half of its app users since Myanmar's coup in February
Myanmar’s leading mobile wallet, Wave Money, has lost over 50% of its monthly active app users, taking the count from “more than 2 million” in January to 1 million as of May 31. This development follows Ant Group’s scuttled plans to take a stake in the fintech startup for USD 73 million. Read More
|
|
Myanmar currency suffers record downtrend against US dollar
On the black market, the Kyat recently dropped to a record low of 2,020 (K2,020) against the US dollar, the military-controlled Central Bank revoked its directive of a maximum difference of 0.8 per cent between buying and selling prices of the American currency. Read More
|
|
|
Global & Myanmar Business News
|
|
'Prices are dropping exponentially': Border trade hit hard as China shuts the gates
When China closed all trade gates with Myanmar shortly after noon on July 8, truck driver Sai Hla Phone found himself stranded in the border town of Muse. He’s steeled himself for a long wait, but he said he is not too worried about being stuck in northern Shan State since he’s carrying beans, which are not susceptible to rot. Many others have been less fortunate, however. Read More
|
|
China Opens Rail Line With Access to Indian Ocean via Myanmar
A new rail line providing China with access to the Indian Ocean via Myanmar was opened on Aug. 25 on the Chinese side of the border. The rail line stretches from Chengdu, the capital of Sichuan Province, to Lincang, a prefecture-level city in China’s Yunnan Province opposite Chin Shwe Haw, a border trade town in Myanmar’s northeastern Shan State. Read More
|
|
China announces new Myanmar trade route as it seeks to bolster ties with military junta
The first test of the overland route follows a visit by Beijing’s special envoy and has been seen as a show of support after February’s coup China has been seeking to boost its economic and political influence across Southeast Asia via the Belt and Road Initiative Read More
|
|
New China-Myanmar corridor creating economic opportunities
At the end of August, the first batch of cargo arrived in China's Sichuan province via the new China-Myanmar corridor. The goods started out in the Port of Singapore from where they were shipped through the Indian Ocean to Yangon, before being transported on to China via road and then rail. Read More
|
|
Southeast Asia Manufacturing Downturn Persisted in August as Lockdowns Weighed
Southeast Asia's manufacturing sector remained firmly mired in a downturn during August, weighed by rising Covid-19 cases and continued lockdown measures. IHS Markit's purchasing managers index for the region fell slightly to 44.5 in August from 44.6 in July, staying firmly below the 50.0 mark separating expansion from contraction. Read More
|
|
Southeast Asian food delivery market to hit $28b by 2025, report says
Southeast Asia is expected to reach US$28 billion in food delivery-related transactions by 2025, according to a joint report by super app Grab and market research firm Euromonitor International. The figure would represent a jump of more than 3x from the US$9 billion in gross merchandise value that the industry logged in the region in 2020. Read More
|
|
Major tunnel on China-Myanmar railway drilled through
A tunnel on the railway linking the Dali Bai Autonomous Prefecture and Ruili City in southwest China's Yunnan Province was drilled through on Thursday, marking new progress in the construction of the railway. Read More
|
|
|
Global & Myanmar Logistics News
|
|
DSV announces DB Schenker as potential acquisition candidate
With a market share estimated at 4-5 percent, DSV wants to continue growing by way of new acqusitions. The logistics company is interested in a dialog with DB Schenker if the company is put up for sale, CFO Jens Lund tells ShippingWatch. Read More
|
|
Brokers sell Covishield vaccine on Myanmar's black market for millions of kyats
Myanmar black market retailers are selling the Indian-manufactured Covishield vaccine online at a mark-up of up to 25 times the original price as the public desperately attempts to protect themselves and their families from the Covid-19 crisis that has unfolded since the coup. Read More
|
|
‘Immediate assistance needed to the people of Myanmar – Foreign Chambers supporting COVID19 relief efforts with 500.000 USD funding raised
Immediate assistance is needed to help Myanmar respond to COVID-19’s third wave, which is devastating lives and livelihoods across the country. Of the population of 54 million, only 2 percent is vaccinated, with limited availability of vaccine supply arriving in the country and high positivity rates. Read More
|
|
Hong Kong drives to capture the cold-chain market
In Hong Kong, where many U.S. businesses send shipments to and receive goods from, a new drive to maximize cold chain opportunities is being realized and embraced. Read More
|
|
All your orders can be placed and tracked through the Karzo Management System giving reliable solutions to all your goods being moved throughout Myanmar. Read More
Come rain, hail or shine, Karzo's priority is to give our customers a reliable and trustworthy operational team to support all your orders and deliveries, regardless of the size of the shipment or the type of the goods. Read More
|
|
USD-MMK FX Rate
15/08/2021 - 1650.0
15/09/2021 - 1750.0
Source: https://forex.cbm.gov.mm/index.php/fxrate
|
Premium Diesel Yangon
15/08/2021 - 1045 MMK
15/09/2021 - 1175 MMK
Source: https://maxenergy.com.mm/#pricelist
|
|
|
Karzo manages the largest truck fleet in Myanmar providing goods transportation, logistics, cross-border imports and exports, and warehousing for corporate businesses moving cargo anywhere in the country.
|
|
|
|
