Myanmar’s earnings

YANGON: Military-run Myanmar earned $609 million from bean exports in the last fiscal year almost doubling its year-on-year bean profits. Myanmar exported 1.1 million tonnes of beans in 2006-07, up from 869,000 tonnes in 2005-06 when the crop earned the junta $319 million. The country’s military leadership, currently under European and US economic sanctions over human rights abuses, is always on the look-out for new sources of foreign currency, with gas exports said to be fueling economic growth here. — AFP

China’s inflation up

BEIJING: Chinese consumer prices rose by three per cent in April, down from March but still at the government’s warning level amid growing concern about the prospect of a return to inflation. Coming at the start of a week of a series key economic data, the outcome suggested the central bank might have to take resolute action on interest rates sooner rather than later. The central bank is facing quite a lot of pressure to rein in liquidity and adjust interest rates. — AFP

Current account

TOKYO: Japan’s current account surplus widened by more than a third in March, hitting unexpected records for the month and fiscal year on the back of strong exports and returns on overseas investments. The surplus got a boost from a steady fall in the price of crude, which is a major import item for Japan as the world’s second largest economy has virtually no energy resources of its own. — AFP

Oil prices hold steady

SINGAPORE: Oil prices dipped slightly on Monday, but remained supported by uncertainties over whether US petrol inventories can meet summer driving demand and by a disruption of oil supplies from Nigeria. Light, sweet crude for June delivery fell to $62.42 a barrel in midmorning Asian electronic trading. Traders are watching US petrol inventories, which rose slightly in the week ended on May 5 despite glitches at refineries that have reduced supplies for nearly three months. — AP

EU industrial output

BRUSSELS: Factories and refineries in the euro zone slowed production slightly in March. Industrial output in the eurozone rose by 0.4 per cent in March over February and 3.7 per cent over 12 months. The result, which was adjusted for seasonal variations, met economists’ forecasts for a rise of 0.3 per cent over one month and 3.7 per cent over one year. — AFP

Malaysia bags projects

KUALA LUMPUR: A Malaysian government-led consortium has been awarded two highway projects in Pakistan worth $102.6 million under an accord inked on Monday. State-owned Construction Industry Development Board Malaysia signed a pact with the National Highway Authority of Pakistan to build the $46 million Karachi northern bypass and the $56.6 million Rawalpindi bypass and Turnol interchange. The projects are part of ongoing efforts to improve national transportation system. — AP

Industrial output up

LONDON: British producer prices, or the cost of goods leaving factories, rose by 0.5 per cent in April from the March figure. On a 12-month basis, producer prices increased by 2.5 per cent in April. The data mirrored analysts’ consensus forecasts. — AFP

Tourists in Bhaktapur

BHAKTAPUR: There has been a increase in the number of tourists visiting the ancient city of Bhaktapur as compared to last year (2062). This year, 105,894 tourists visited the city as compared to the preceding year when there were 95,844 tourists. According to executive officer of Bhaktapur Municipality Indra Prasad Kakri, 25,594 tourists from SAARC countries and China and 80,300 tourists from other countries visited the place for sightseeing. The increase in tourist arrivals has led to an increase in revenue the municipality generated from the tourism sector to Rs 60.1 million as against last year’s Rs 54.6 million. The fees charged by the municipality from tourists since 1993 is likely to be spent on preservation of historic and archeological monuments, preservation of culture, education, health and sanitation. —RSS

Milk chilling centre

HETAUDA: The Makwanpur District Development Committee (DDC) has provided a grant of Rs 500,000 to the milk chilling centre established at Furkechaur of Harnamadi VDC-5 in Makwanpur district. Milk chilling is likely to begin at the centre after adjusting the modern equipment within a few weeks. Preparations are afoot to send 2,000 litres of chilled milk at one time for sale to the Hetauda Dairy Distribution Project. The building of the centre was recently completed at a cost of Rs 300,000 with people’s participation and donations.—RSS