CNI News

8 October 2024

Because the price of dollar has fallen since October, 2024, some people are making comments whether the price of gold might decline. 

Although the price of gold within the country tend to fall while the price of dollar goes down, because the Central Bank of Myanmar is selling its dollars and Thai baht at present and there is somewhat domestic demand for gold, the price of gold has not fallen yet, Ko Nay Khant, a gold market analyst, told CNI News.

" The reason why the price of gold hasn't fallen is because the situation has been a balance for the time being. Traders are also interested to do their business at a time like this. Because the price goes up and go down or fluctuates, now it's convenient for them to make price speculations in the short term. Next, the Central Bank sells dollars, Chinese yuan and Thai baht in an attempt to reduce the price of gold. But on the other hand, because the speculators are doing their business depending the situation, the price hasn't fallen yet." he said.

While seeing dollar and Myanmar kyat

Because the price of pure gold reached until 80 lakh kyats per tical in the domestic market, the current price is 60 lakh kyats when there has been an increased in the number of buyers.

At present, because a war is breaking out between Iran and Israel, global gold price and prices of fuel oil could rise, have commented businessmen. So, the price of gold is less likely to go down, guesstimated some people.

However, although one percent was collected as the trade tax in gold trading in the past, because three percent are currently collected, it could impact on the demand, U Ohn Myaing, secretary of the Myanmar Gold Entrepreneurs, told CNI News.

While seeing a hump of gold

Although the value of Myanmar kyat could rise because the price of dollar falls, as the global gold price rises due to the war between Iran and Israel, the price of gold is less likely to go down, according to gold entrepreneurs and market analysts.

According to foreign exchange rates and gold market price on 7th October, the price of US dollar was 4,550 kyats per dollar while the price of pure gold was 6,350,000 kyats per tical.

CNI News
October 7, 2024

Dr. Zaw Myint Maung, vice chairman of the National League for Democracy (NLD) passed away in the morning on 7th October 2024, Daw Yu Yu May, his wife, wrote on her social network page.

Dr. Zaw Myint Maung was suffering from leukemia and lost consciousness on 5th October and was transferred to the ICU. And then, he passed away at 3:00 am on 7th October when he was at 73.

He had been arrested since 1st February 2021 when the Tatmadaw took power after overthrowing the NLD government, saying that the NLD was trying to form a government without solving the vote list dispute in 2020 general election.

He had been released on amnesty, stated the State Administration Council on 6th October 2024. Dr. Zaw Myint Maung was an important leader of the NLD and he served as the chief minister of the Mandalay Region under the NLD government.

CNI News

7 October 2024

Myanmar should think about carefully economic sectors India should be invited to make the India's investments enter Myanmar, pointed out businessmen and academics. 

Because India is skillful in technology, education and medicine, it should be invited for these sectors, they pointed out.

If Myanmar youths were able to learn more technologies from the India's investments, it would be beneficial to Myanmar, U Htay Aung Kyi, an economic analyst, told CNI News.

" According to my experience, Indian citizens are very good at IT. Since Windows 95 was written in Hyderabad, India, later all the rest were not written in US, but in India. I don't know how much computer universities in Myanmar can learn. But IT is not necessary for every one. We can earn a lot of money from IT. If we can produce about 1,000 IT specialists, it will be greatly beneficial to the country. India's TATA is famous for its resilience and long-lasting at a global level. Next, India's education is not left behind in the world. India is on the top list in medicine. For example, Bautongrat Hospital in Thailand is famous for its liver treatment. All the surgeons there are all Indians. That's why, joint ventures regarding technologies can be conducted with India." he said.

While seeing the description of building a bridge from the Kaladan River Project

Although India had investments on steel production and logistics in Myanmar in the past, it had a few industries. Kaladan River Project with India has been suspended due to political instabilities.

There are a few investments from India due to the political and territorial instabilities in Myanmar; however, as India has a good relations with the current Myanmar government, India's investments could enter Myanmar, pointed out businessmen.

China and India are neighboring countries of Myanmar and many tourists from these countries enter Myanmar. 

Myanmar should attempt to make the two countries invest in the tourism industry and if it could do so, national income would be high, a tourism entrepreneur, told CNI News.

While the Sittwe Port was being built in March 2012

" They have enough strength to invest. If Myanmar guarantees, their investments will enter. Especially, we can earn income quickly from the tourism industry. We need full infrastructure. But the main problem is not enough safety currently. The Ngapali Beach has been closed down. Tourists haven't been able to go to Chin and Kayah States for a long time. Shan and Kachin States are not sure anymore. Inle region has faced flood disaster. The electricity is often out of order and fuel oil is so expensive that hotels have been closed. If these problems can be solved, tourism industry can be resumed easily. And then, it can promote the GDP." he said.

The Indian FM urged Myanmar to protect the Kaladan River Project, an Indian investment project, in June.

India is buying a variety of peas and beans from Myanmar each year on the basis of G to G although India's investment has been few in Myanmar.

CNI News

7 October 2024

The number of internally displaced people who have fled battles in Myanmar has been over six millions, stated the ISP-Myanmar on 4th October 2024. 

During over three years after the Myanmar Tatmadaw took power on 1st February 2021, at least 17,000 battles broke out between the Myanmar Tatmadaw and some EAOs/PDFs forces and battles were taking place in 70 percent of towns and cities within the country, said the ISP-Myanmar.

"Since Operation-1027 that was launched later last year, EAOs and the PDFs that came out from the Spring Revolution have captured at least 74 towns including the Northeast Command of the military council. The Myanmar Tatmadaw faced great defeats and retreats, which surprised neighboring countries and most international analysts." said in the statement.

While seeing ruins of Lashio City

It has been more difficult to protect civilians and to carry out security tasks for humans while the battles are widely breaking out, pointed out the ISP-Myanmar. 

According to the data from the ISP-Myanmar, there has been over 6.5 million IDPs within the country.

Battles are breaking out between the Myanmar Tatmadaw and EAOs/PDFs forces in Sagaing, Mandalay, Magway, Bago, Tanintharyi Regions, Shan, Kachin, Chin, Rakhine, Mon, Kayah and Karen States.

CNI News

7 October 2024

The unity was needed among the Pa-O armed groups in Myanmar, said Col. Khun Okkar, patron of the Pa-O National Liberation Organization (PNLO) on 4th October, 2024. 

Col. Khun Okkar urged Pa-O armed groups to build Pa-O national unity as soon as possible while he was talking about forming an interim council dated 29th September 2024. 

Because the unity among the armed groups in the Pa-O regions collapsed, Pa-O people were suffering a variety of trouble, said in the statement.

Pa-O people play an important role in carrying out to solve the conflicts taking place among the Pa-O armed groups as well as to have a unity among them, Col. Khun Okkar told CNI News.

While seeing the statement urging to form an interim council

" Pa-O people play an important role in building the unity among the Pa-O armed groups. The Pa-O people led by monks request again and again and the way the people intervene is the best and the most peaceful way because any armed group has to depend on the people. If the people don't support, don't like the armed conflict and object to the armed conflict, designating it's not beneficial to the people, the armed conflict can't last for long. If the armed conflict took place, it wouldn't break out in a big way. After the conflict ceased, if armed groups cooperate, we can say it's unity. Now that the conflict has been taking place for over six months, we have to watch any more of a little time and to re-organize gradually kind of." he said.

There are four Pa-O armed groups and they are the Pa-O National Organization (PNO/PNA) that is cooperating with the Tatmadaw, the Pa-O National Liberation Organization (PNLO) that is led by Col. Khun Okkar, the Pa-O National Liberation Organization (PNLO/AD) that is led by Col. Khun Thurein and the Pa-O National Federal Council (PNFC) that is led by Khun Myint Tun.

While seeing troops of the PNLO/PNLA

The PNLO led by Col. Khun Okkar will go on the NCA path and the PNLO/AD led by Khun Thurein is fighting against the Myanmar Tatmadaw, making allies with the PNFC and supporting the Spring Revolution. 

Battles are breaking out in the Special Region-6 that has been controlled by the PNO/PNA and the unity is broken among the Pa-O armed groups.

If there was no unity among the Pa-O armed groups, it was unlikely to go on; there were tensions ideologically in military and politics; there were external influence on both sides and it could adversely impact on the people, Col. Khun Okkar told CNI News.

While seeing the PNO/PNA

" There hasn't been such a bad conflict for the time being, but an ideological tension. There are military and political tensions, but they haven't widely spread yet. There are external influence on both sides. The elements that have seceded from the NCA have been influenced by the BGF or the Spring Revolution. So, the people might suffer." he said.

On the other hand, as the Tatmadaw that becomes weaker has used the militias more, the people might find it difficult, pointed out military and political analysts.

So, an army which the Pa-O people could rely on must be built so that it could maintain the conflicts and the reason why an interim unity council was call was to implement these tasks, said Col. Khun Okkar.

CNI News

4 October 2024

The price of dollar fell to around 4,500 kyats per dollar during the past few days from above 5,000 kyats per dollar and economic commentators are discussing regarding to how much the price of dollar can fall.

If the price of dollar went on falling, it would be above 3,500 kyats only, U Htay Aung Kyi, a banking expert, told CNI News.

" The price of dollar falls because there is no sudden demand at the moment. In fact, 5,00 kyats per dollar is still very high. Because that the price of dollar fall is not too bad. We are relieved from pain. But the real disease cannot be cured. As a matter of fact, market must be created by demand and supply. As long as we don't reach that situation, we can't reach the original state. In my opinion, if the price of dollar falls at the lowest, it just will be above 3,500 kyats." he said.

It was expected that the price of dollar would reach 5,000 kyats in the end of this year and because there has been an increase in the number of migrants within the country due to battles, the price of dollar went up until 7,000 kyats and then fell to 5,000 kyats. 

At the moment, the price fell to 4,500 kyats again.

The Central Bank of Myanmar

The reasons why the price of dollar fell was because the global price of dollar fell; the Central Bank of Myanmar has sold dollars and there was no sudden demand for dollars, reviewed some people.

Although the Central Bank was carrying out to make the price of dollar fall to around 4,000 kyats, economic analysts made a comment that it was not possible the price of dollar could fall under 5,000 kyats.

So, that the price fell to around 4,500 kyats was surprising, an economic commentator told CNI News.

" That the price of dollar has fallen this time is quite surprising. We can say the rest all are normal, but the dollar case is abnormal. In 2008 shortly after Cyclone Narghis, the price of dollar plunged. Dollars entered Myanmar by millions from UN. And then, we received a lot of aids from Japan. When dollars enter Myanmar, the price of dollar tend to fall. Now how much international aids can enter Myanmar? Depending on that, we have to estimate how the price of dollar might be." he said.

If the price of dollar went up, it would go up gradually and how high the price would go up could not be estimated, said economic analysts. 

The price of dollar could change to an extent depending on the new US government that would come to power after the US election, they reviewed.

CNI News

4 October 2024

The rainfed paddy yield of Ayeyarwady Region can decrease by 30 percent (1.5 million tons) in comparison with last year, according to the Farmers Development Association. 

When the rainfed paddy was planted this year, low-lying paddy fields were sunk and pests destroyed paddy plants when the paddy was reaped. So, the yield will decrease.

although about 80 baskets of paddy per acre could be produced from the farms that were not sunk, about 40 baskets per acre could be produced from the farms that were sunk and suffered pests, U Thein Aung, former chairman of the Farmers Development Association, told CNI News.

" The regions where paddy fields were mainly damaged in Ayeyarwady Region are Myan Aung, Hinthada, Maubin Districts and Kyaunggon Township in Pathein District. The yield could decrease by about 30 to 35 percent in Ayeyarwady Region." he said.

While cultivation is being conducted on farms in the Ayeyarwady delta region 

There are over 3.7 million acres of rainfed paddy yearly and three to four million tons of paddy can be produced. However, 1.5 million acres of paddy that had been grown were sunk.

Moreover, some farms of paddy were damaged because of shellfish and other pests, U Aye Naing, a farmer from Bogale Township, told CNI News.

" The yield has decreased. Shellfish bites paddy fields in the middle part where there is fresh water and other pests, lower part. If there are 260 acres, about 70 acres were damaged. Pests bite paddy in the lower part where there is salt water. If about 300 baskets are produced as usual, now we get about 150 baskets only." he said.

At present rainfed paddy is being reaped and the price of paddy is 15 lakh kyat per 100 baskets, one lakh more than last year. 

However, because the agricultural cost was high, farmers made a little profits, said farmers.

CNI News

4 October 2024

As Myanmar Tatmadaw and the Myanmar National Democratic Alliance Army (MNDAA) are making attempts in competition in order to seize control of Lashio City in northern Shan State, there are comments among political analysts about how important Lashio is militarily and economically. 

Is important militarily and economically to EAOs and the Myanmar Tatmadaw, Col. Khun Okkar, patron of the Pa-O National Liberation Organization (PNLO), told CNI News.

" Lashio is economically an important city. In the past, troops of the Burma Communist Party had entered Lashio. It has a strategic command of the Tatmadaw, which the MNDAA has seized control of the city. The dignity of central authorities was hurt because they lost control of a militarily important place. So, they will be disturbing so as not to enable the people to live in the city in some way." he said.

While seeing the MNDAA

Lashio is located on the China-Myanmar border trade route and economically important. In the same way, the Northeast Command of the Myanmar Tatmadaw, militia and other military camps were located. 

At present, the MNDAA has captured Theinni, Phaungsai, Monko, Chin Shwe Haw, Laukkai and Kon Kyan including the Northeast Command during Operation-1027. 

And then, as the MNDAA is establishing administration in Lashio, the Myanmar Tatmadaw is trying so as not to enable the MNDAA to establish administration by launching air strikes.

The Myanmar Tatmadaw possibly was attacking Lashio by air to regain control of its Northeast Command and Lashio was important to EAOs because it was pivotal in northern Shan State, U Than Soe Naing, a Myanmar political commentator, told CNI News.

While seeing Muse 105 Mile Trade Gate

" Lashio is important to an extent. But it's not the most important to (Sr-Gen) Min Aung Hlaing. The most important thing to him is that the MNDAA can't stay in Lashio any longer and to make the people flee the city. He is crushing down the city because he can rebuild the Northeast Command, I think. And northern Shan State is important to EAOs and Lashio is the most important to northern Shan State. So, the Command was established in Lashio." he said.

As the China-Myanmar trade routes pass through Lashio, it is economically important, added U Than Soe Naing. " All the economic routes connecting China pass through Lashio. Because Lashio is closed, the military council is losing by hundred million dollars. So, the military council seems to be trying to create a situation in which there is no one to live in Lashio." he said.

Although the Chinese government persuaded the MNDAA to retreat from Lashio and to set foot in Laukkai, the MNDAA responded it was unlikely because it could face objection from its troops, according to the diplomatic circles.

The MNDAA announced on 4th September it would discuss peace through the China's mediation; it wouldn't attack to Mandalay and Taunggyi; it wanted full self-administration; it wouldn't expand its military and it would conduct self-defense.

CNI News

3 October 2024

The Myanmar Rice Federation will provide aids to farmers whose paddy farms were sunk due to flood and has appropriated 5,000 lakh kyats reportedly. 

Seeds and fertilizers would be provided to the flood-hit farmers, chairman of the Myanmar Rice Federation, U Ye Min Aung told CNI News.

" We have appropriated 5,000 lakh kyats to help the flood-hit farmers for the time being. If necessary any more, we'll search for finance to replenish. The main necessities are seeds and fertilizers. The area where paddy can be replanted is narrow. But in some places, there is a plan to replant the short term paddy. Farmers are interested in it as well. So, we are planning to help farmers with seeds and fertilizers. Moreover, if other crops such as peas and beans will be planted, we are planning to help farmers." he said.

In supplying seeds and fertilizers to the farmers, the MRF will give them free of charge or sell on credit.

While seeing some farm plantations that were damaged due to flood in Kani Township( photo-pyae aung naing facebook)

Some farmers have crop insurance at the rate of 1,000 kyats per acre at the Myanma Economic Bank and they got the money back at the rate of 30,000 kyat per acre.

Not only were farmers be able to reap their rainfed paddy, their seeds stored also were lost in the flood-hit areas in Shan State, Mandalay Region, Karen State, Bago, Magway, Ayeyarwady Regions, Mon State and the Naypyidaw Council Territory.

Although rainfed paddy was ruined, farmers must try to make a profit in the winter crop, former chairman of the Farmers Development Association U Thein Aung told CNI News.

" In the country, as you know, it's difficult to stand economically while battles are breaking out between the two sides. Farmers have to make up for damages and losses of this year in the winter crop cultivation." he said.

The MRF is making a list of farms that were damaged due to flood and it will start providing aids when the rainy season ends. 

He wanted to request businessmen to invest in the agricultural and livestock industries in the flood-hit areas, said chairman of the SAC.

The SAC has received 42.7 billion kyats from donors for the reconstruction of flood-hit areas.