A Myanmar military tribunal has sentenced 28 people to 20 years in jail with hard labour for arson attacks on two factories, state media reported, after a string of mainly Chinese-financed factories were torched during unrest in Yangon in March. The army-run Myawady news portal said the offenders had targeted a shoe plant and a garment factory in the industrial Hlaing Tharyar suburb of Myanmar’s biggest city. Martial law was imposed in the suburb after the blazes, with dozens killed or wounded when security forces opened fire on anti-military protesters, media and an activist group said. The Chinese embassy in Myanmar said at the time that many Chinese staff were injured and trapped in the arson attacks and called on Myanmar to protect Chinese property and citizens. A total of 32 Chinese-i...
Myanmar has been in turmoil since the coup on February 1, with protests almost daily against military rule across the country and ethnic militias stepping up attacks, overrunning military posts. Myanmar’s junta has declared martial law in a town in Chin State after blaming “armed terrorists” for attacks on a police station and a bank, state media reported, amid an upsurge in fighting between the military and ethnic rebels in border areas. In the face of widespread opposition, the junta has struggled to retain order amid daily protests in cities and fighting in border states since overthrowing elected leader Aung San Suu Kyi to end tentative steps towards democracy. The unrest in the town of Mindat on Wednesday and Thursday involved about 100 people using homemade guns to attack a police st...
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...