Agreement Moves Myanmar’s Kyaukphyu Port Project a Step Forward
An agreement to conduct preliminary field investigation work for the Kyaukphyu Special Economic Zone (SEZ) Deep Sea Port Project has been signed, signaling another step forward for the project, which forms part of China’s Belt and Road Initiative (BRI) plans in Myanmar. Read More
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38 factories have closed down and nearly 10,000 workers have become unemployed in Hlaing Tharyar Industrial Zone since February
38 factories in Hlaing Tharyar and Shwe Thanlwin industrial zones in Hlaing Tharyar Township were shut down and nearly 10,000 workers have become unemployed since February to September 22 according to industrial committees. Read More
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Myanmar currency drops 60% in weeks as economy tanks since February coup
Myanmar's currency has lost more than 60% of its value since the beginning of September, driving up food and fuel prices in an economy that has tanked since a military coup eight months ago. Read More
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Gold price drop by K200,000 per tical within hours
The skyrocketing gold price in Myanmar today has dropped by around K200,000 per tical within hours after reaching over MMK2.2 million in the morning before dropping to K2 million in the afternoon before the local gold market is closed. A tical of gold is equivalent to 16.32 grams or 0.576 oz. Read More
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Price of Fuel in Myanmar Has More Than Doubled Since Junta’s Coup
Fuel prices in Myanmar have more than doubled since the junta’s February 1 coup, as the cost of crude oil has jumped in international markets and the kyat has weakened significantly against the US dollar amid post-coup political turmoil. Read More
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The bleak outlook for Myanmar’s farmers
Myanmar’s rice farmers are facing higher production and transportation costs, lower yields, and low prices, leaving many worried they will no longer be able to earn enough to survive. Read More
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Rising Prices Forcing Myanmar Truckers to Stop Operations
Rising fuel prices and other costs in Myanmar are forcing freight firms to suspend operations, according to industry insiders. Read More
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The currency crisis, and why we should brace for stagflation
The most likely outcome of the economic turmoil triggered by the coup is a period of slow economic growth and joblessness, even as inflation rises and the value of the kyat continues to slide against the US dollar. Read More
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Global & Myanmar Business News
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China applies to join key Asia-Pacific trade pact
The move comes the day after a historic security deal between the US, UK and Australia was unveiled. The pact that eventually became the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), was created by the US to counter China's influence. Read More
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ASEAN's delta battle mows nearly 1% off ADB growth forecast
Southeast Asia's economic recovery from the COVID-19 pandemic will be much slower than initially expected, the Asian Development Bank said in a report on Wednesday, as the region continues to wrestle with the highly infectious delta variant. Read More
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APPEC Singapore's Pavilion Energy eyes Southeast Asian markets for gas expansion
Singapore's Pavilion Energy is looking to expand into Southeast Asian countries such as Vietnam and Myanmar where demand for natural gas is expected to grow, its interim chief executive said on Monday. Read More
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India counters China in Sri Lanka with $700 million port deal
An Indian company entered into a $700 million deal Thursday to build a strategic deep-sea container terminal in Sri Lanka, officials said, in a move seen as countering China's rising influence in the region. Read More
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Global & Myanmar Logistics News
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Truckers’ tinder service could plug industry's driver gap
“Tinder for truckers” offers a potential route out of the driver shortage crisis but some hauliers have expressed reservations that such a scheme lacks the assurances that the agencies its challenging offer. Read More
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Ocean Freight Market Update
None of the dedicated Central China – Middle East services operated by the big carriers currently offers weekly sailings. On Sep 14th 29 ships where deployed on these services, while 50 would be required according to pro forma schedules. Read More
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Covid-19: Quad countries pledge to donate 1.2 bn vaccine doses globally
The Quad countries - United States, India, Japan and Australia - have pledged to donate more than 1.2 billion COVID-19 vaccine doses globally, in addition to the vaccines financed through COVAX. Read More
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China's rare earth imports from Myanmar dry up after border closure
China’s imports of rare earths from neighbouring Myanmar slowed to a trickle in August, Chinese customs data showed on Monday, as the closure of a key border crossing to contain the spread of the coronavirus impeded shipments. Read More
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Karzo transports all types of goods to all cities across the country with over 5,000 trucks in all sizes such as open type 6 wheeler 21ft (10mT), half body 12 wheeler 32ft (17mT), basket type 22 wheeler 40ft (34mT), container truck, flatbed trailer truck, and lowbed trailer truck. Read More
Karzo and Yoma Bank has renewed an SME loan agreement under which Yoma Bank provides unsecured financing based on Karzo’s Accounts Receivable. Read More
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USD-MMK FX Rate
15/09/2021 - 1750.0
15/10/2021 - 1830.4
Source: https://forex.cbm.gov.mm/index.php/fxrate
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Premium Diesel Yangon
15/09/2021 - 1175 MMK
14/10/2021 - 1485 MMK
Source: https://maxenergy.com.mm/#pricelist
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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.
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