Myanmar rebels said they took control of Laukkai, the capital of the Kokang region, after the local military command surrendered. Reuters
Myanmar rebels said they took control of Laukkai, the capital of the Kokang region, after the local military command surrendered. Reuters
Myanmar rebels said they took control of Laukkai, the capital of the Kokang region, after the local military command surrendered. Reuters
Myanmar rebels said they took control of Laukkai, the capital of the Kokang region, after the local military command surrendered. Reuters

Myanmar rebels claim control of another northern town


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An alliance of Myanmar rebels claims it controls a town along the volatile northern border with China after weeks of fighting with junta troops.

The Three Brotherhood Alliance, as the group is known, said on Friday that it took over Laukkai, capital of the Kokang region, after the military's regional headquarters surrendered.

The fall of Laukkai is the latest victory in an offensive by rebels that began in October and has become the most significant threat to Myanmar's military government since it seized power in a 2021 coup.

“All Kokang region has become a land with no Myanmar Military Council any more,” the statement said.

Government spokesman Maj Gen Zaw Min Tun told the Popular News Journal, a pro-army website, on Saturday that the military relinquished control of Laukkai after considering many aspects, including the safety of the family members of the soldiers stationed there.

He said the military also took into consideration Myanmar’s relationship with China, which is just across the border from the town.

The alliance comprises three groups with extensive fighting experience – the Myanmar National Democratic Alliance Army (MNDAA), the Ta'ang National Liberation Army (TNLA), and the Arakan Army (AA).

They were accompanied by members of the loosely organised People's Defence Force, supported by Myanmar's parallel National Unity Government (NUG), suggesting that the rebellion is becoming better organised and executed.

Armed conflict between the military and rebel groups has surged in Myanmar's north since late October. China, which has helped dialogue between the two sides, has called for a ceasefire.

Laukkai has a reputation as a gambling den and a centre for online scam operations.

China, a junta ally that also has close relations with some ethnic Chinese militias along the frontier, has grown increasingly frustrated by the junta's lack of action to close the centres.

At the start of their October offensive, the Three Brotherhood Alliance said their objectives included shutting them.

In late December, China urged its citizens to leave the Laukkai area on security grounds.

Laukkai is a former headquarters of the MNDAA.

The surrender of the town “marks the first regional operation command to fall”, political analyst Ye Myo Hein said in a post on social media platform X.

“The surrender of 2,389 military personnel in Laukkai, including six brigadier general commanders, marks the largest surrender in the history of Myanmar's military,” he said.

Myanmar's military has more than a dozen regional operation commands across the country.

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TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

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Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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The Emirates Charity Portal

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Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.

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On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.

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Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.

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Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).

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Mr Kandhari is legally authorised to conduct marriages in the gurdwara

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Completed a Bachelor of Commerce degree in Loyola College, Chennai, India

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Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

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Updated: January 07, 2024, 10:55 AM