The document summarizes business and economic news from Mongolia reported in the Business Council of Mongolia NewsWire on June 24, 2011. Key highlights include:
- The Mongolian government suspended PetroChina's crude oil transport along a gravel road for various violations.
- Erdene Resource Development took investors on a tour of its mining operation sites in Mongolia.
- Mongolia Growth Group received an insurance license under the name Mandal General to underwrite property and casualty insurance in Mongolia.
- Several mining and exploration companies including Voyager Resources, Mongolia Energy Corporation, and Petro Matad provided updates on their drilling, mining, and exploration activities in Mongolia.
This document discusses ethics in business and how to initiate and sustain an ethical workplace culture. It outlines key principles of ethics like honesty, integrity, and fairness. It also discusses how establishing ethical leadership and values can help improve employee engagement, operational processes, customer satisfaction, and corporate social responsibility programs. The conclusion emphasizes that ethics is about doing what is right rather than just what you have a right to do, and provides questions to evaluate ethical choices and ensure they benefit all stakeholders.
1. TenGer Financial Group is a diversified financial services group in Mongolia spanning microfinance, insurance, lending, savings, and payments.
2. As the Mongolian economy and financial sector grows, TenGer is well positioned to track this growth as it offers a full range of financial services.
3. Investing in financial institutions like TenGer provides exposure to Mongolia's economic development, but requires conditions like strong corporate governance, professional management, and balanced ownership to be met.
The document summarizes the services provided by IEEC, a mining consultancy firm. IEEC was established in 1992 and has experience working in various countries on coal, precious metals, and iron ore projects. They have over 1,000 staff with expertise in exploration, resource evaluation, feasibility studies, and operational assistance. The presentation provides examples of how IEEC has added value to clients' mining projects in Russia and Mongolia by improving exploration programs, development strategies, mine designs, and project valuations. IEEC joined the Business Council of Mongolia to contribute their technical expertise to the country's expanding mining sector.
Sharyn Gol JSC is a Mongolian coal mining company that operates the oldest coal mine in Mongolia. The company is planning a major expansion to increase production from 0.8 million tonnes per year currently to 2.5 million tonnes per year. Recent drilling has delineated large new JORC-compliant coal resources totaling 324 million tonnes that can support increased production. The company's rail spur provides access to both domestic and international coal markets in China and Russia. Sharyn Gol JSC aims to become a leading Mongolian coal producer and exporter by capitalizing on strong Asian demand for thermal coal.
The document summarizes business and economic news from Mongolia. It reports that Franklin Templeton has suffered investment losses from bets on Mongolian bonds as the country's mining and economy struggles. It also reports that Mongolian Mining Corp hired financial advisors as it faces debt repayments and its bonds have been downgraded to CCC- by S&P on risks of default. Additionally, it provides brief updates on various other Mongolian companies and economic indicators.
This document discusses reforms needed for Mongolia's meat industry. It outlines issues with the current veterinary system, herder management practices, and lack of coordination between businesses. The proposed reforms include strengthening laws around animal health, slaughtering standards, and traceability. Improving herder practices through entrepreneurship, feeding, and disaster preparedness is also suggested. Coordinating businesses through associations could boost investment, competition, and exporting of high quality meat and byproducts. Overall, the reforms aim to leverage Mongolia's grass-fed livestock into a premium natural meat brand through an honest, systematic approach.
The document summarizes business and economic news from Mongolia reported in the Business Council of Mongolia NewsWire on June 24, 2011. Key highlights include:
- The Mongolian government suspended PetroChina's crude oil transport along a gravel road for various violations.
- Erdene Resource Development took investors on a tour of its mining operation sites in Mongolia.
- Mongolia Growth Group received an insurance license under the name Mandal General to underwrite property and casualty insurance in Mongolia.
- Several mining and exploration companies including Voyager Resources, Mongolia Energy Corporation, and Petro Matad provided updates on their drilling, mining, and exploration activities in Mongolia.
This document discusses ethics in business and how to initiate and sustain an ethical workplace culture. It outlines key principles of ethics like honesty, integrity, and fairness. It also discusses how establishing ethical leadership and values can help improve employee engagement, operational processes, customer satisfaction, and corporate social responsibility programs. The conclusion emphasizes that ethics is about doing what is right rather than just what you have a right to do, and provides questions to evaluate ethical choices and ensure they benefit all stakeholders.
1. TenGer Financial Group is a diversified financial services group in Mongolia spanning microfinance, insurance, lending, savings, and payments.
2. As the Mongolian economy and financial sector grows, TenGer is well positioned to track this growth as it offers a full range of financial services.
3. Investing in financial institutions like TenGer provides exposure to Mongolia's economic development, but requires conditions like strong corporate governance, professional management, and balanced ownership to be met.
The document summarizes the services provided by IEEC, a mining consultancy firm. IEEC was established in 1992 and has experience working in various countries on coal, precious metals, and iron ore projects. They have over 1,000 staff with expertise in exploration, resource evaluation, feasibility studies, and operational assistance. The presentation provides examples of how IEEC has added value to clients' mining projects in Russia and Mongolia by improving exploration programs, development strategies, mine designs, and project valuations. IEEC joined the Business Council of Mongolia to contribute their technical expertise to the country's expanding mining sector.
Sharyn Gol JSC is a Mongolian coal mining company that operates the oldest coal mine in Mongolia. The company is planning a major expansion to increase production from 0.8 million tonnes per year currently to 2.5 million tonnes per year. Recent drilling has delineated large new JORC-compliant coal resources totaling 324 million tonnes that can support increased production. The company's rail spur provides access to both domestic and international coal markets in China and Russia. Sharyn Gol JSC aims to become a leading Mongolian coal producer and exporter by capitalizing on strong Asian demand for thermal coal.
The document summarizes business and economic news from Mongolia. It reports that Franklin Templeton has suffered investment losses from bets on Mongolian bonds as the country's mining and economy struggles. It also reports that Mongolian Mining Corp hired financial advisors as it faces debt repayments and its bonds have been downgraded to CCC- by S&P on risks of default. Additionally, it provides brief updates on various other Mongolian companies and economic indicators.
This document discusses reforms needed for Mongolia's meat industry. It outlines issues with the current veterinary system, herder management practices, and lack of coordination between businesses. The proposed reforms include strengthening laws around animal health, slaughtering standards, and traceability. Improving herder practices through entrepreneurship, feeding, and disaster preparedness is also suggested. Coordinating businesses through associations could boost investment, competition, and exporting of high quality meat and byproducts. Overall, the reforms aim to leverage Mongolia's grass-fed livestock into a premium natural meat brand through an honest, systematic approach.
The document proposes constructing the Shivee Ovoo Intermodal Terminal in Mongolia to address issues with the country's underdeveloped infrastructure and lack of supply chain solutions for its booming mining industry. The terminal would facilitate coal and mineral transportation and offer logistics services. It is estimated to cost $5.8 million, with 80% financed through long-term loans and a 16% internal rate of return. The terminal aims to capitalize on Mongolia's rapid resource-driven economic growth by improving transportation and meeting mining companies' logistics demands.
Cameron McRae, President and CEO of Oyu Tolgoi, discusses the promise of the Oyu Tolgoi copper and gold mine in Mongolia. The mine is expected to produce over 1.5 million tons of copper and over 1 million ounces of gold annually at peak production. Oyu Tolgoi will become one of the largest copper mines in the world and will be a major driver of Mongolia's economy for decades. However, continued development is needed for Oyu Tolgoi to reach its full potential and fulfill its promise to Mongolia.
The document is a draft law from Mongolia that regulates its securities market. Some key points:
- It establishes a legal framework to create a fair, efficient and regulated securities market that protects investors.
- It defines terms related to securities, the securities market, and regulated entities/activities. These include stocks, bonds, derivatives, brokers, dealers, advisors and more.
- It establishes rules for issuing securities, including common/preferred shares, corporate/government bonds, options, futures, and depositary receipts. It also covers registration of publicly offered securities.
- It regulates various entities in the securities market, including exchanges, clearing organizations, depositories, custodians and more. It
The document discusses how extractive industries can support protected areas through financial contributions, environmental planning, research, and public outreach. It provides the example of the Chiquitano Forest Conservation Foundation in Bolivia, established in 1999 by Enron, Shell, and conservation organizations. The Foundation commits $2 million annually per company for protected area management and indigenous land rights over 15 years. Governance includes industry and conservation representation. The document also discusses biodiversity offsets, where development impacts on protected areas are compensated through conservation measures, with the goal of no net loss of biodiversity. International examples of offsets supporting protected areas in Cameroon and Congo are provided.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights that MCS won contracts over $33 million, fuel shortages may impact SouthGobi operations, and Voyager Resources acquired a porphyry copper project. It also provides updates on bond issuances, World Bank optimism for Mongolia's growth but warnings about similarities to pre-2008 crisis conditions, and plans for the country's first sovereign bond issuance later in May.
The document is a newsletter from the Business Council of Mongolia covering various news highlights from August 14, 2009. Some of the key topics summarized are:
- The National Security Council of Mongolia approved new terms for the Oyu Tolgoi investment agreement, increasing Mongolia's ownership stake to 34% and reducing investor's upfront payment interest. The agreement now needs parliamentary approval.
- The Finance Minister stated the windfall profits tax has outlived its purpose and will be abolished starting in 2011 to help develop Mongolia's mining industry.
- In response to a letter sent by Rio Tinto and Ivanhoe Mines to MPs, the Parliament Office asked the companies to apologize, saying they should only discuss
- SouthGobi Energy Resources announced its 2009 financial results and operations review. Key highlights included selling 1.33 million tonnes of coal from its Ovoot Tolgoi mine, establishing proven and probable reserves at Ovoot Tolgoi, and initial resources at the new Soumber deposit.
- The company completed a $500 million financing from China Investment Corporation to support expansion. It also listed on the Toronto Stock Exchange and completed a global equity offering.
- Resources were updated at Ovoot Tolgoi and initial resources reported for the Soumber deposit. Senior management changes were announced. The company also divested its interest in an Indonesia coal project.
The document summarizes business and economic news from Mongolia. It discusses several mining projects in the country, including Peabody being offered a contract to develop the West Tsankhi coal field, the priority of the new government being to attract investors to the Tavan Tolgoi coal field, and the CEO of Erdenes-TT stepping down while outlining three options for how to move the project forward. It also mentions the Oyu Tolgoi CEO defending the investment agreement for the project.
The Sant Maral Foundation conducted a survey of 5020 respondents from Ulan Bator and provinces between March 16-April 14, 2012. Key findings include:
- 77.3% of respondents nationwide said they would participate in elections if held tomorrow.
- The top three parties respondents said they would vote for were the Mongolian People's Party at 16.5%, Democratic Party at 17.3%, and MPRP-MNDP union at 6.3%.
- Respondents were split on whether dismantling the coalition government before elections was right or wrong, with 23.6% saying right and 44% saying wrong.
- Unemployment was seen as the biggest socio-political or economic problem
- The document summarizes news from the Business Council of Mongolia newsletter, covering business, economic, and political headlines.
- In business news, Petro Matad reevaluated its oil exploration expectations at Davsan Tolgoi after tests found no commercial oil. Oyu Tolgoi and Tavan Tolgoi will have separate power plants to supply their mining operations. Khan Bank announced management changes including a new acting CEO.
- Economic headlines included Mongolia being vulnerable to economic issues in western countries and falling stock prices due to slower Chinese growth.
- In politics, a new bill proposed distributing shares of Erdenes Tavan Tolgoi to citizens, which some business leaders opposed.
The document summarizes business and economic news from Mongolia. It discusses Ivanhoe assessing options for its Oyu Tolgoi mine in Mongolia, including potentially auctioning it off. It also mentions a JORC resource estimate quadrupling the coal inventory for Sharyn Gol to over 374 million metric tons. Additionally, it provides an overview of the most recent Business Council of Mongolia monthly meeting, including presentations on the stock exchange, an upcoming coal conference, and aviation industry growth.
The document summarizes news from the Business Council of Mongolia newsletter. Key points include:
- Construction at the Oyu Tolgoi copper/gold mining project is ahead of schedule, with pre-stripping of the open pit mine to begin in August.
- Ivanhoe owns 66% of the project and plans to initially send most production to Chinese smelters.
- The monthly Business Council of Mongolia meeting welcomed 12 new members and heard presentations on Germany-Mongolia business and two Mongolian mining companies.
- Arts and creativity were also discussed, including efforts to preserve Mongolian cultural heritage.
This document discusses the role of the Bank of Mongolia (BOM) in promoting sustainable economic growth in Mongolia. It provides an overview of Mongolia's strong economic growth and macroeconomic stability. It outlines the BOM's coordinated monetary and financial policies to maintain low and stable inflation while supporting continued growth. These include developing Mongolia's financial infrastructure through reforms to deposit insurance, social security systems, and mortgage and government bond markets. The goal is to establish sustainable, balanced growth through coordinated fiscal and monetary policies while strengthening Mongolia's financial system.
The document summarizes Mongolia's Intended Nationally Determined Contribution (INDC) submitted to the UNFCCC for the 2015 climate agreement. Key points include:
- Mongolia's INDC aims to reduce economy-wide emissions by 14% below business-as-usual levels by 2030, excluding land use changes, through renewable energy and other sectoral policies.
- Adaptation goals are also included to reduce risks in sectors like agriculture and water resources from 2021-2030, with estimated needs of $3.4 billion in international funding.
- The INDC was developed through national stakeholder consultations based on existing frameworks and targets like obtaining 30% renewable electricity by 2030.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened Three Camel Lodge in 2002 as the only luxury eco-lodge in the Gobi Desert. Built by and staffed by locals, Three Camel Lodge offers travelers a way to experience the nomadic spirit of the region alongside modern comforts while protecting the natural beauty and culture.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened the only luxury eco-lodge in the Gobi Desert, Three Camel Lodge, in 2002. Built by and staffed by locals, Three Camel Lodge offers travelers a variety of activities to learn about nomadic culture while enjoying modern comforts in a way that showcases the nomadic spirit without destroying the natural environment of the region.
The Business Council of Mongolia published its January 2020 Macroeconomic Updates report which contained the following key points:
1) Mongolia's GDP grew 6.3% in Q3 2019 while inflation was at 5.2% in December 2019. Exports reached a historic high of $7.6 billion in 2019, driven by record coal exports.
2) Foreign direct investment in Mongolia totaled $21.5 billion as of 2019, with the majority from Canada, China, Singapore, and Luxembourg invested mainly in mining.
3) The Mongolian currency, the togrog, depreciated 3.8% against the US dollar in 2019 as the central bank supplied $2.
Faro Foundation Mongolia is a non-governmental organization that promotes digital literacy and safe internet use in Mongolia. It works to educate the public on topics like online safety, proper social media use, and cyberbullying prevention. The organization's primary goal is to create positive social change through social media. It has developed a digital literacy curriculum and library on Facebook to teach essential digital skills to students, teachers, and parents.
The document proposes constructing the Shivee Ovoo Intermodal Terminal in Mongolia to address issues with the country's underdeveloped infrastructure and lack of supply chain solutions for its booming mining industry. The terminal would facilitate coal and mineral transportation and offer logistics services. It is estimated to cost $5.8 million, with 80% financed through long-term loans and a 16% internal rate of return. The terminal aims to capitalize on Mongolia's rapid resource-driven economic growth by improving transportation and meeting mining companies' logistics demands.
Cameron McRae, President and CEO of Oyu Tolgoi, discusses the promise of the Oyu Tolgoi copper and gold mine in Mongolia. The mine is expected to produce over 1.5 million tons of copper and over 1 million ounces of gold annually at peak production. Oyu Tolgoi will become one of the largest copper mines in the world and will be a major driver of Mongolia's economy for decades. However, continued development is needed for Oyu Tolgoi to reach its full potential and fulfill its promise to Mongolia.
The document is a draft law from Mongolia that regulates its securities market. Some key points:
- It establishes a legal framework to create a fair, efficient and regulated securities market that protects investors.
- It defines terms related to securities, the securities market, and regulated entities/activities. These include stocks, bonds, derivatives, brokers, dealers, advisors and more.
- It establishes rules for issuing securities, including common/preferred shares, corporate/government bonds, options, futures, and depositary receipts. It also covers registration of publicly offered securities.
- It regulates various entities in the securities market, including exchanges, clearing organizations, depositories, custodians and more. It
The document discusses how extractive industries can support protected areas through financial contributions, environmental planning, research, and public outreach. It provides the example of the Chiquitano Forest Conservation Foundation in Bolivia, established in 1999 by Enron, Shell, and conservation organizations. The Foundation commits $2 million annually per company for protected area management and indigenous land rights over 15 years. Governance includes industry and conservation representation. The document also discusses biodiversity offsets, where development impacts on protected areas are compensated through conservation measures, with the goal of no net loss of biodiversity. International examples of offsets supporting protected areas in Cameroon and Congo are provided.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights that MCS won contracts over $33 million, fuel shortages may impact SouthGobi operations, and Voyager Resources acquired a porphyry copper project. It also provides updates on bond issuances, World Bank optimism for Mongolia's growth but warnings about similarities to pre-2008 crisis conditions, and plans for the country's first sovereign bond issuance later in May.
The document is a newsletter from the Business Council of Mongolia covering various news highlights from August 14, 2009. Some of the key topics summarized are:
- The National Security Council of Mongolia approved new terms for the Oyu Tolgoi investment agreement, increasing Mongolia's ownership stake to 34% and reducing investor's upfront payment interest. The agreement now needs parliamentary approval.
- The Finance Minister stated the windfall profits tax has outlived its purpose and will be abolished starting in 2011 to help develop Mongolia's mining industry.
- In response to a letter sent by Rio Tinto and Ivanhoe Mines to MPs, the Parliament Office asked the companies to apologize, saying they should only discuss
- SouthGobi Energy Resources announced its 2009 financial results and operations review. Key highlights included selling 1.33 million tonnes of coal from its Ovoot Tolgoi mine, establishing proven and probable reserves at Ovoot Tolgoi, and initial resources at the new Soumber deposit.
- The company completed a $500 million financing from China Investment Corporation to support expansion. It also listed on the Toronto Stock Exchange and completed a global equity offering.
- Resources were updated at Ovoot Tolgoi and initial resources reported for the Soumber deposit. Senior management changes were announced. The company also divested its interest in an Indonesia coal project.
The document summarizes business and economic news from Mongolia. It discusses several mining projects in the country, including Peabody being offered a contract to develop the West Tsankhi coal field, the priority of the new government being to attract investors to the Tavan Tolgoi coal field, and the CEO of Erdenes-TT stepping down while outlining three options for how to move the project forward. It also mentions the Oyu Tolgoi CEO defending the investment agreement for the project.
The Sant Maral Foundation conducted a survey of 5020 respondents from Ulan Bator and provinces between March 16-April 14, 2012. Key findings include:
- 77.3% of respondents nationwide said they would participate in elections if held tomorrow.
- The top three parties respondents said they would vote for were the Mongolian People's Party at 16.5%, Democratic Party at 17.3%, and MPRP-MNDP union at 6.3%.
- Respondents were split on whether dismantling the coalition government before elections was right or wrong, with 23.6% saying right and 44% saying wrong.
- Unemployment was seen as the biggest socio-political or economic problem
- The document summarizes news from the Business Council of Mongolia newsletter, covering business, economic, and political headlines.
- In business news, Petro Matad reevaluated its oil exploration expectations at Davsan Tolgoi after tests found no commercial oil. Oyu Tolgoi and Tavan Tolgoi will have separate power plants to supply their mining operations. Khan Bank announced management changes including a new acting CEO.
- Economic headlines included Mongolia being vulnerable to economic issues in western countries and falling stock prices due to slower Chinese growth.
- In politics, a new bill proposed distributing shares of Erdenes Tavan Tolgoi to citizens, which some business leaders opposed.
The document summarizes business and economic news from Mongolia. It discusses Ivanhoe assessing options for its Oyu Tolgoi mine in Mongolia, including potentially auctioning it off. It also mentions a JORC resource estimate quadrupling the coal inventory for Sharyn Gol to over 374 million metric tons. Additionally, it provides an overview of the most recent Business Council of Mongolia monthly meeting, including presentations on the stock exchange, an upcoming coal conference, and aviation industry growth.
The document summarizes news from the Business Council of Mongolia newsletter. Key points include:
- Construction at the Oyu Tolgoi copper/gold mining project is ahead of schedule, with pre-stripping of the open pit mine to begin in August.
- Ivanhoe owns 66% of the project and plans to initially send most production to Chinese smelters.
- The monthly Business Council of Mongolia meeting welcomed 12 new members and heard presentations on Germany-Mongolia business and two Mongolian mining companies.
- Arts and creativity were also discussed, including efforts to preserve Mongolian cultural heritage.
This document discusses the role of the Bank of Mongolia (BOM) in promoting sustainable economic growth in Mongolia. It provides an overview of Mongolia's strong economic growth and macroeconomic stability. It outlines the BOM's coordinated monetary and financial policies to maintain low and stable inflation while supporting continued growth. These include developing Mongolia's financial infrastructure through reforms to deposit insurance, social security systems, and mortgage and government bond markets. The goal is to establish sustainable, balanced growth through coordinated fiscal and monetary policies while strengthening Mongolia's financial system.
The document summarizes Mongolia's Intended Nationally Determined Contribution (INDC) submitted to the UNFCCC for the 2015 climate agreement. Key points include:
- Mongolia's INDC aims to reduce economy-wide emissions by 14% below business-as-usual levels by 2030, excluding land use changes, through renewable energy and other sectoral policies.
- Adaptation goals are also included to reduce risks in sectors like agriculture and water resources from 2021-2030, with estimated needs of $3.4 billion in international funding.
- The INDC was developed through national stakeholder consultations based on existing frameworks and targets like obtaining 30% renewable electricity by 2030.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened Three Camel Lodge in 2002 as the only luxury eco-lodge in the Gobi Desert. Built by and staffed by locals, Three Camel Lodge offers travelers a way to experience the nomadic spirit of the region alongside modern comforts while protecting the natural beauty and culture.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened the only luxury eco-lodge in the Gobi Desert, Three Camel Lodge, in 2002. Built by and staffed by locals, Three Camel Lodge offers travelers a variety of activities to learn about nomadic culture while enjoying modern comforts in a way that showcases the nomadic spirit without destroying the natural environment of the region.
The Business Council of Mongolia published its January 2020 Macroeconomic Updates report which contained the following key points:
1) Mongolia's GDP grew 6.3% in Q3 2019 while inflation was at 5.2% in December 2019. Exports reached a historic high of $7.6 billion in 2019, driven by record coal exports.
2) Foreign direct investment in Mongolia totaled $21.5 billion as of 2019, with the majority from Canada, China, Singapore, and Luxembourg invested mainly in mining.
3) The Mongolian currency, the togrog, depreciated 3.8% against the US dollar in 2019 as the central bank supplied $2.
Faro Foundation Mongolia is a non-governmental organization that promotes digital literacy and safe internet use in Mongolia. It works to educate the public on topics like online safety, proper social media use, and cyberbullying prevention. The organization's primary goal is to create positive social change through social media. It has developed a digital literacy curriculum and library on Facebook to teach essential digital skills to students, teachers, and parents.
The Business Council of Mongolia (BCM) is an independent non-profit organization established in 2007 to advocate for economic freedom and a competitive business environment in Mongolia. It has over 240 member organizations from various sectors. The BCM aims to equip its members with policy research, training, and networking opportunities. It is organized with a Board of Directors, Executive Committee, and six working groups focused on key issues. The Growth and Innovation working group works to promote digital transformation in Mongolia.
The One-Stop-Service Center (OSSC) was established in February 2019 under the Prime Minister's order to provide centralized public services to investors in Mongolia. The OSSC was created as part of Mongolia's three-pillar development policy and on the recommendation of the Investment Protection Council. It allows five government bodies, a bank, and notary office to render services to foreign investors from one location.
Mongolians are building a competitive Fintech sector with international ambitions by cultivating agile and innovative teams combining specialists and experts from 6 nationalities. To become truly internationally competitive, Mongolia must train professionals and executives to international standards by growing their next generation of innovative leaders and skilled experts. Overcoming these challenges will allow Mongolia to solve growing issues and compete in international markets.
The document discusses competitiveness rankings for Mongolia and its provinces. It analyzes Mongolia's performance in the IMD World Competitiveness Ranking, where Mongolia ranked 62nd out of 63 countries in 2018. The ranking evaluates countries across 4 factors: economic performance, government efficiency, business efficiency, and infrastructure. The document also summarizes findings from a provincial competitiveness report for Mongolia, which evaluated and ranked the competitiveness of Mongolia's 21 provinces. Finally, it outlines criteria and results from a competitiveness ranking of districts in Ulaanbaatar city across 5 factors of quality of life, living environment, safety and security, governance, and economic performance.
Digital transformation involves using digital technology in new ways to solve traditional business problems and drive organizational change. The presentation discusses how digital transformation differs from related concepts like digitization, analytics, and outsourcing. Key aspects of digital transformation include leveraging data as a strategic asset, adapting to digital natives, and undergoing cultural and technological changes. Methods like agile project management and design sprints are presented as ways to accelerate transformation. The presentation also provides examples of how companies have transformed, such as Domino's Pizza using digital strategies to regain market share.
DBS Bank was named the world's best digital bank by Euromoney in 2016 and 2018, beating competitors like Citi, BBVA, and ING. The CEO of DBS Bank, Piyush Gupta, accepted the award and said that banks of the future will be fundamentally different than today's banks due to their digital transformation. DBS Bank has spent three years focused on digital initiatives by changing employee mindsets and technology infrastructure to make banking simple and seamless for customers.
Mongolia transitioned to democracy in the early 1990s after a peaceful revolution. It now has a multi-party parliamentary democracy with freedoms of religion, expression, and private property rights guaranteed in its constitution. Mongolia's economy depends heavily on its mineral and agricultural sectors as it continues developing a market economy after transitioning from Soviet control.
The document discusses the Growth & Innovation Working Group of the Business Council Mongolia. The working group aims to:
1. Promote and advance business growth and innovation in Mongolian society through educating businesses, government, and the public on opportunities in research and development.
2. Enable all organizations to grow and innovate, not just start-ups or sectors traditionally thought of as innovative.
3. Focus on key objectives like digitalization, infrastructure, financial technology, data security, efficiency, public investment policy, and intellectual property protection to support the digital transformation of consumer and enterprise services through technologies like IoT, AI, fintech, blockchain, and more.
The working group plans events
The BCM held its January monthly meeting to discuss organizational updates. Key points:
- The BCM elected a new 15-member Board of Directors and appointed an Executive Committee and Working Groups.
- Two presentations were given on legal environments for asset management in Mongolia and on responsible mining.
- The BCM revised its mission statement to focus on providing members with policy research, training, and networking support for business in Mongolia.
- The BCM reorganized its working groups, which are now chaired by Board members, and strengthened its secretariat.
The document discusses Mongolia, Russia, and China's economic corridor program. It notes that the program aims to improve connectivity between the three countries through projects involving railway, roads, energy transmission lines, gas and oil pipelines, and high-speed internet. There are currently 32 projects across areas like infrastructure, energy, agriculture, border cooperation, trade, environment, education, medicine, and more. The document also discusses plans to establish a joint center for investment planning and projection in Ulaanbaatar to facilitate implementation of the economic corridor program projects and further trilateral cooperation.
This document provides information on business opportunities through procurement for Mongolia's Second Compact Agreement with the Millennium Challenge Corporation (MCC). It outlines that the total grant value is $350 million to fund activities supporting economic growth and poverty reduction in Mongolia. Key business opportunities include consulting services, goods, and construction works valued at approximately $44 million for the base year. The presentation also reviews MCC's procurement principles of transparency, fairness and competitiveness. It provides details on the procurement process and how opportunities will be advertised.
Your Go-To Press Release Newswire for Maximum Visibility and Impact.pdfPressReleasePower4
This downloadable guide explains why press releases are still important for businesses today and the challenges you might face with traditional distribution methods. Learn how [Your Website Name] offers a comprehensive solution for crafting compelling press releases, targeting the right media outlets, and maximizing visibility.
Acolyte Episodes review (TV series) The Acolyte. Learn about the influence of the program on the Star Wars world, as well as new characters and story twists.
Youngest c m in India- Pema Khandu BiographyVoterMood
Pema Khandu, born on August 21, 1979, is an Indian politician and the Chief Minister of Arunachal Pradesh. He is the son of former Chief Minister of Arunachal Pradesh, Dorjee Khandu. Pema Khandu assumed office as the Chief Minister in July 2016, making him one of the youngest Chief Ministers in India at that time.
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
The Biggest Threat to Western Civilization _ Andy Blumenthal _ The Blogs.pdfAndy (Avraham) Blumenthal
Article in The Times of Israel by Andy Blumenthal: China and Russia are commonly considered the biggest military threats to Western civilization, but I believe that is incorrect. The biggest strategic threat is a terrorist Jihadi Caliphate.
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
Essential Tools for Modern PR Business .pptxPragencyuk
Discover the essential tools and strategies for modern PR business success. Learn how to craft compelling news releases, leverage press release sites and news wires, stay updated with PR news, and integrate effective PR practices to enhance your brand's visibility and credibility. Elevate your PR efforts with our comprehensive guide.
1. BUSINESS COUNCIL of MONGOLIA
NewsWire
www.bcmmongolia.org
Email: Jim@bcmmongolia.org Issue 24, May 16, 2008
NEWS HIGHLIGHTS:
Business: Khan Resources Announces Offer for Western Prospector; E-Learning Center for
Information Technology Opens; Peabody Energy Interested in Mongolia; ICT Expo
Opens; Consulting Council for Mongolian Investment Gets Assistance; Igor Kovarsky
Joins Kola Mining
(Click here to go to Business section)
Economy: Over 450 Infected With Enterovirus-71; Standing Committee Charges FRC; Taxation
Amnesty Law Approved; Consumer Price Index/Exchange Rates (Click here to go to
Economy section)
Politics: Sant Maral Foundation Releases Politbarometer; MPRP Presents Its Election
Platform; President Enkhbayar Visit Israel; Commitment to Mongolia; Parliament
Considers Expanding Agreement with North Korea
(Click here to go to Politics section)
BUSINESS
KHAN RESOURCES ANNOUNCES OFFER FOR WESTERN PROSPECTOR
Khan Resources Inc. (TSX: KRI) has announced that it will seek to acquire all outstanding common
shares of Western Prospector Group Ltd. to consolidate its position in the Saddle Hills district of
Mongolia and achieve significant synergies from the joint development of Khan Resources' Dornod
uranium deposit and Western Prospector's Gurvanbulag uranium deposit in that district. The offer
is valued at approximately $35 million. The KRI shareholders will own approximately two-thirds of
the combined entity.
Khan Resources already operates Dornod uranium deposit and Western Prospector's Gurvanbulag
uranium deposit in Mongolia. The acquisition of Western Prospector is expected to result in a
combined savings of US $100 million, as a result of the construction of one common mill and the
sharing of infrastructure.
CEO of Khan Resources, Martin Quick, commented "This is a natural combination of two companies
working towards the same goals in the same area. Western Prospector shareholders benefit by
getting access to a rich and advanced Uranium deposit that can quickly be brought into production
and by receiving a premium to their stock price. Khan shareholders benefit from an extensive
exploration potential and by becoming more attractive to the Mongolian government as a mid-tier
near-term producer."
Sources: MARKET WIRE via COMTEX News Network,
Mineral News Daily, www.miningmongolia.mn
E-LEARNING CENTER FOR INFORMATION TECHNOLOGY OPENS
The first Cognitive Center of Information Technology, sponsored by Mobicom, opened May 7, 2008.
The center consists of five sections. For example, “Cognitive with the world”, gives visitors the
opportunity to access information on all countries by using the Google Earth system. The
“Technological apartment” section provides audio-visuals by locating these in electronic format.
The “E-governance” section provides an opportunity to see the latest information technology such
as voting via the internet.
Source: Mongol Messenger
PEABODY ENERGY INTERESTED IN MONGOLIA
Officials from Peabody Energy presented a proposal to President Enkhbayar on developing the
Mongolian coal industry. The proposal was written by leading American entities. In summary, the
proposal consisted of legal, financial, organizational and environmental requirements for the
exploitation of coal deposits. A single authority should manage the coal production and it should be
offered at the highest possible market price. Mongolian workers would be trained and a social fund
2. for Mongolian citizens governed by an independent board. The minerals should be 100% state
property until unearthed. The Director of Government Relations for Peabody Energy, Cartan
Sumner said, “Mongolia has become the center of world minerals. Therefore, the proposal was
based on the idea of establishing equality between interests of the state, citizens and investors.”
President Enkhbayar said: “Mongolia has minimal experience of exploiting large deposits.
I think it would be right to classify the deposits into groups explored by the state and private
sector, establish laws and regulations; then, the state should find the right partners and cooperate
with them. Our decision makers need to exchange information and gain experience in this field.”
Sources: www.olloo.mn
Mongol Messenger
Mineral News Daily, www.miningmongolia.mn
ICT EXPO OPENS
The ICT Expo-2008, sponsored by Unitel, opened Tuesday at the Misheel Expo center. Over 60
companies are taking part in the three day expo introducing new cell phone service, stationary
telephone services, and new software. The expo is co-hosted by the Info and Communications
Technology Agency (ICTA), the Communications Regulatory Committee, and the Misheel Expo center
in conjunction with World Information Day, May 17.
Source: MONTSAME
CONSULTING COUNCIL FOR MONGOLIAN INVESTMENT GETS ASSISTANCE
Last week, Prime Minister Bayar met with Joomart Otorbaev, Senior Advisor at the European Bank
for Reconstruction and Development (EBRD). He expressed his thanks to the EBRD for providing a
grant to cover expenses for the first two years’ proceedings of the Consulting Council for Mongolian
Investment. He emphasized that the Council, which has been established to improve the Mongolian
business environment, create favorable conditions for investment, and to speed-up economic
development, would become the most appropriate mechanism to coordinate and regulate
cooperation between the State, investors and private sectors.
Source: Mongol Messenger
IGOR KOVARSKY JOINS KOLA MINING
Last week, Kola Mining Corporation announced the appointment of Igor Kovarsky as President and
Director of Kola Mining. "Mr. Kovarsky's track record as a pioneering mine developer in the former
Soviet Republics and Mongolia is unrivaled," said Mr. Cary Pinkowski, Kola Mining's CEO. "His
significant role in bringing the Kumtor Mine, one of the world's largest gold mines, and Mongolia's
Boroo Mine into full production has made him a highly sought after Executive. We are proud Mr.
Kovarsky has selected Kola Mining."
Mr. Kovarsky has over 25 years of experience in the construction and mineral sectors in exploration,
engineering, development and operations. Prior to joining Kola Mining, Mr. Kovarsky worked with
Centerra Gold Inc. He served in various roles including Director and Vice President, Government
Affairs & Business Development for Centerra's subsidiaries in Kyrgyzstan, Mongolia and its head
office in Toronto.
Source: http://www.kolamining.com/
ECONOMY
OVER 450 INFECTED WITH ENTEROVIRUS-71
Last Thursday, a case of Enterovirus-71, was reported in Mongolia. By May 12th
, the number of
persons infected escalated from 253 to over 450 as of May 15, according to the Ministry of Health.
The National Emergency Management Agency (NEMA) held a joint meeting with the Ministry of
Health and delivered a preventative notification to all aimags and cities of Mongolia, warning
citizens to immediately report any further occurrences. As a preventive measure, grades K to 5 of
all private and state secondary schools, were placed under quarantine on May 12 for an unspecified
period. NEMA has also issued an order requiring anyone entering at the following borders to
undergo a medical examination: Zamiin-Uud, Byant-Ukhaa and Altanbulag. A ban has been placed
against organizing public activities among people during this quarantine period and all State
3. garbage sites are to be cleared and sterilized.
Sources: UB Post
MONTSAME
www.chinaview.cn
STANDING COMMITTEE CHARGES FRC
The Parliamentary Committee on Economy delivered a memo to the Financial Regulatory
Committee (FRC), stating that in recent years, individuals have been establishing joint-stock
companies. The entities have been launching public offerings and trading their mineral licenses on
the stock market. In conjunction with these activities, it is important to improve the legal
environment.
The FRC has proposed taking measures to protect the rights and interests of shareholders and to put
strict control over activities of companies launching initiative public offerings until the law on the
stock market is reviewed and the legal environment is improved.
Source: MONTSAME
TAXATION AMNESTY LAW APPROVED
On May 9, 2008, a majority of Parliament members voted on the revised Taxation Amnesty Law.
Parliament endorsed this law in February, but the President vetoed some provisions. Legislators
reconsidered the Presidential veto on April 25, and decided to amend and revise the Taxation
Amnesty Law. The draft amendments were introduced on May 8 and approved the following day.
The revised Taxation Amnesty Law provides: 100% exemption for taxation debts incurred by official
and social insurance commissions; 100% exemption for official taxation debts not paid in time; 10%
exemption for basic debts not paid before January 1, 2008, the remaining 90% to be paid before
January 1, 2009; 100% exemption for bad debts not recovered as of January 31, 2007; 50%
exemption for residual debts imposed by Court decision; 100% exemption for debts due to under-
performance of bank debt repayments and under the authority of the Court Decisions Office.
Source: Mongol Messenger
CONSUMER PRICE INDEX/EXCHANGE RATES
As of April 2008, national consumer prices increased by 5.1 percent compared to March 2008. Food
items increased by 11.1 percent, a major contribution to the increase. The fees for housing, water,
electricity and fuel decreased by 0.4 percent. The Consumer price index (CPI) was up by 13.8
percent compared to the end of 2007.
The nominal rate of togrog against U.S. dollar was 1164.94 togrog at the end of April 2008;
compared with April of 2007, this rate strengthened by 0.01 percent. The nominal rate of togrog
against EUR was 1811.95; compared with April of 2007, rate of togrog weakened 14.4 percent. The
nominal rate of togrog against CNY was 166.71 togrog; compared with April of 2007, the rate
weakened by 10.4 percent.
Source: MONTSAME
POLITICS
SANT MARAL FOUNDATION RELEASES POLITBAROMETER
The Sant Maral Foundation which has been tracking transition in Mongolia for the past 13 years,
presented the results of its newly designed political survey. The table below shows the results of
one of 50 questions from the survey.
A representative sample of 1200 respondents from Ulan Bator, Zavhan, Huvsgul, Suhbaatar and
Dundgobi aimags, was collected from May 2 to May 12, 2008. The survey questions reflect changes
at the end of the time of transition.
4. 2. “If Parliament Elections were held tomorrow, which party would you vote for?”
Nationwide
Countryside Ulan Bator % Valid %
MPRP 30.5 17.8 25.5 38.9
Democratic Party 27.2 21.2 24.8 37.8
Civil Will Party 1.7 4.8 2.9 4.5
People’s ’Party - .5 .2 .3
Civil Coalition .8 4.7 2.4 3.6
Third Power Coalition 2.3 3.8 2.9 4.4
Other party - - - -
Independent 4.0 11.2 6.9 10.5
(No answer) 13.2 18.0 15.1
(Don’t know) 20.3 18.0 19.4
See BCM website: Articles/Reports on Mongolia, for complete survey.
Sources: BCM website, Articles/Reports on Mongolia
Sant Maral Foundation
MPRP PRESENTS ITS ELECTION PLATFORM
This week, the Mongolian People's Revolutionary Party (MPRP) presented its election platform with
the intention of focusing on solving urgent problems of development. Under the campaign slogan,
"Justice-responsible state, progressive development-prosperous life", the MPRP intends to launch a
new era of effective development in Mongolia and maintain economic growth at above ten percent.
GDP per capita will reach US $5,000 by 2012. The platform is not just a promise, but a reflection of
public expectation and social demand.
Source: MONTSAME
PRESIDENT ENKHBAYAR VISITS ISRAEL
President Enkhbayar is visiting Israel for the first time. On Monday, he met with Shimon Peres,
President of Israel. They exchanged ideas on the development of relations between the two
countries. Mr. Peres expressed his country's readiness in sharing its experience with Mongolia on
utilizing desert areas to augment the harvest by 20-25 percent. He also promised to give attention
to the development of policy, economy and educational ties between the two countries.
President Enkhbayar and his entourage will attend the Presidential Conference marking Israel's 60th
anniversary and will meet with senior Israeli politicians and business executives in order to find
opportunities for increasing economic cooperation between the two countries. During the visit,
Mongolian Foreign Minister, S. Oyun and her Israeli counterpart Foreign Minister Livni, will sign a
bilateral cultural cooperation agreement.
Source: Odriin sonin
COMMITMENT TO MONGOLIA
Thomas J. Christensen, Deputy Assistant U.S. Secretary of State for East Asian and Pacific Affairs,
responded to a recent article in the Washington Times. It provides the U.S. Department of State’s
and the U.S. Embassy in-Mongolia’s view on the recent series of articles regarding Mongolia:
J. Peter Pham's commentary on Mongolia and the Millennium Challenge Corp. (MCC) was misleading
at best ("Mongolia's challenge," Feb. 21). His prescription — that we cut off the MCC compact to
Mongolia before it even begins to work — would undermine U.S. interests in a nation that is one of
our best friends in Asia.
So, the question is, should we abandon Mongolia and its reform efforts now when progress is being
made? Or should we continue to work with the Mongolians to help them complete their democratic
transition?
5. I would argue that the answer is clear — we should continue to help Mongolians realize their full
capabilities as a free people. The MCC compact, in its ability to reduce poverty and stimulate
economic growth in Mongolia, is one of the best ways we can show our commitment to Mongolia.
See BCM website, Articles/Reports on Mongolia, for complete response.
Sources: BCM website, Articles/Reports on Mongolia;
www.news.mn
PARLIAMENT CONSIDERS EXPANDING AGREEMENT WITH NORTH KOREA
The Mongolian government is backing an intergovernmental agreement to provide work visas to
North Koreans. According to the agreement, Mongolia would allow North Korean workers to work in
the country’s road and construction industries. The number of North Korean workers was not
disclosed. However, there are currently 200 working in construction and a variety of related jobs,
according to the Ministry of Social Welfare and Labor.
Sources: www.Mongolia-web.com
MONTSAME
SPONSORS:
ECONOMIC INDICATORS
MSE WEEKLY REVIEW
For the week ended May 9, 2008, trading activity on the Mongolian Stock Exchange (MSE) totaled
417,400 shares with 39 companies traded. Total market value of transactions was MNT 574.8
million.
The Top-20 Index decreased by 71. 02 points or 0.6 % compared to the previous week closing at
11,712.51 points. The MSE Composite Index decreased by 62.27 points or 1.2% compared to the
previous week closing at 5,123.55 points.
Most active stocks traded were: Jenco Tour Bureau (229,700 shares), Zoos Bank (68,000 shares), UID
(State Department Store) (40,500 shares), Olloo LLC (27,600 shares), and NIC (19,600 shares).
Major share price percentage gainers were: Erdenet zandan (17.4%), Khotgor (15.3%), Selenge shim
(15.2%), Undarga Umnugobi (14.8%), and Mongol nekhmel (14.3%). Major share price percentage
losers were: Genco tur buro (10.8%), Tuul songino usnii nuuts (10.6%), Olloo (9.7%), Moningbar
(7.6%), and Agrotekh impex (6.7%).
Total market capitalization of the 358 stock companies listed on the MSE was MNT 821.5 billion, and
decreased by MNT 6.4 billion or 0.8% from the previous week.
INFLATION
Year 2006 6.0% [source: IMF]
Year 2007 Avg. 9.0% [source: ADB]
Year 2007 *15.1% [source: World Bank]
March 31, 2008 *20.6% [source: MongolBank]
* year over year (yoy)
6. CURRENCY RATES – May 15,2008
Currency name Currency Rate
US dollar US 1163.70
Euro EUR 1794.25
Japanese yen JPY 11.06
British pound GBP 2262.12
Hong Kong dollar HKD 149.20
Chinese yuan CNY 166.27
Russian ruble RUB 48.73
South Korean won KRW 1.11