Day: February 11, 2020

CBM set to reduce interest rates if needed

CBM set to reduce interest rates if needed

The Central Bank of Myanmar (CBM) may consider reducing interest rates to better align with high inflation rates should the need occur. The current bank interest rate is 10percent while the minimum deposit rate is set at 8pc and maximum secured lending rate at 13pc. Some MPs pointed out that lending rates should be reduced […]

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VPower, CNTIC forms JV to operate Myanmar emergency power plants

VPower, CNTIC forms JV to operate Myanmar emergency power plants

Hong Kong-listed VPower Group has set up a 50-50 joint venture with a Chinese state firm to develop three power plants in Myanmar as part of the government’s bid to stop power cuts. VPower, which enjoys close links with investment bank CITIC, and state-owned China National Technical Import & Export Corporation (CNTIC) will jointly develop […]

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Inflation peaks at 8.8% in December 2019

Inflation peaks at 8.8% in December 2019

Inflation  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 […]

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