Ivanhoe Mines Mongolia official dispels misgivings about the Oyu Tolgoi mining project based on misperceptions. He states that Ivanhoe is ready for an agreement that is equitable and fair to both Mongolia and Ivanhoe. He addresses concerns about Ivanhoe Mines Mongolia being an offshore company, proposals to amend mining laws, perceptions that Mongolia's wealth is being sold, and complaints about feasibility studies not being detailed enough. The official emphasizes that Ivanhoe intends to comply with all Mongolian laws and tax obligations, and that negotiations are being complicated by some distortions and lack of understanding of issues.
The document provides a summary of business, economic, and political news from Mongolia in its Business Council of Mongolia newsletter. It discusses developments regarding the Oyu Tolgoi copper-gold mining agreement between Ivanhoe Mines and the Mongolian government, including assurances from Parliament that approving the agreement remains a priority, and areas of disagreement outlined by MPs. It also mentions declines in Ivanhoe Mines' share price following delays in approval, as well as other mining industry deals and reviews.
Indonesian Trade and Investment Quarterly
3rd Quarter 2015
President Jokowi recently announced Indonesia's intention to join the Trans-Pacific Partnership (TPP) within two years, following statements by the trade minister. However, actually joining the TPP will be challenging due to potential domestic resistance and the reforms needed to comply with TPP standards. Indonesia must overcome obstacles in its legislature and courts, reform laws and state-owned enterprises, and address public skepticism of free trade agreements. Moving ahead, Indonesia can take gradual steps by concluding other agreements and keeping its focus on the long-term economic benefits of TPP membership.
The document discusses separating the roles of the Attorney General and Public Prosecutor in Malaysia to strengthen rule of law. Currently, the roles are fused into one person, creating conflicts of interest. The paper analyzes how the roles became fused due to the Malaysian Constitution's drafting and increasing political influence over time. It explores the legal framework underpinning the current system and problems it creates. The paper argues the roles must be separated to ensure independence and prevent powerful individuals from evading prosecution. It proposes recommendations based on international best practices to reform the appointment process and define independent scopes of duties for the Attorney General and Public Prosecutor.
This document summarizes the October 31, 2008 issue of the Business Council of Mongolia NewsWire. It discusses developments at the recent BCM monthly meeting, including two member company presentations and remarks from Canadian and South Korean ambassadors. It also provides highlights on Mongolian mining industry news, including preparations for the upcoming "Discover Mongolia" forum, the mining industry's view that the 2006 Minerals Law does not need amending, Mongolia's poor ranking in an international mining report due to its tax policies, and the possibility that copper miners may not need to pay windfall taxes in 2009.
Lokpal bill and the role of civil societyUmesh Bhosale
This presentation describes what is Lokpal bill, why it is needed and the difference between Governments draft and Civil society's draft of the bil etc.
This presentation mainly focuses on Lokpal in India. it also deals with the need of lokpal, how corruption became one of the activities of even the common citizens. it tries to reveal the intention of Governments in the matters relating to Lokpal.
The document summarizes the Jan Lokpal Bill, an anti-corruption bill drafted by civil society activists in India. It discusses key features of the bill such as establishing a central anti-corruption body called Lokpal to investigate corruption cases independently. It also covers differences between the government's draft Lokpal bill and the Jan Lokpal bill, as well as advantages and disadvantages of the proposed bill. Overall, the Jan Lokpal bill aims to create a stronger anti-corruption framework in India by granting more independence and powers to the Lokpal agency.
This document provides information on statutory interpretation of tax laws in Pakistan. It discusses the primary, secondary, and harmonious rules of statutory interpretation. The primary rule looks at the plain meaning of words used in statutes. The secondary rule outlines 11 canons of interpretation, including using preambles, titles, and legislative history to guide interpretation. It also discusses definitions, provisions, deeming fictions, and retrospective vs. prospective application. The document emphasizes interpreting statutes in a way that places a lesser burden on taxpayers. Overall, it outlines the key principles and approaches for properly interpreting Pakistan's tax statutes and treaties.
The document provides a summary of business, economic, and political news from Mongolia in its Business Council of Mongolia newsletter. It discusses developments regarding the Oyu Tolgoi copper-gold mining agreement between Ivanhoe Mines and the Mongolian government, including assurances from Parliament that approving the agreement remains a priority, and areas of disagreement outlined by MPs. It also mentions declines in Ivanhoe Mines' share price following delays in approval, as well as other mining industry deals and reviews.
Indonesian Trade and Investment Quarterly
3rd Quarter 2015
President Jokowi recently announced Indonesia's intention to join the Trans-Pacific Partnership (TPP) within two years, following statements by the trade minister. However, actually joining the TPP will be challenging due to potential domestic resistance and the reforms needed to comply with TPP standards. Indonesia must overcome obstacles in its legislature and courts, reform laws and state-owned enterprises, and address public skepticism of free trade agreements. Moving ahead, Indonesia can take gradual steps by concluding other agreements and keeping its focus on the long-term economic benefits of TPP membership.
The document discusses separating the roles of the Attorney General and Public Prosecutor in Malaysia to strengthen rule of law. Currently, the roles are fused into one person, creating conflicts of interest. The paper analyzes how the roles became fused due to the Malaysian Constitution's drafting and increasing political influence over time. It explores the legal framework underpinning the current system and problems it creates. The paper argues the roles must be separated to ensure independence and prevent powerful individuals from evading prosecution. It proposes recommendations based on international best practices to reform the appointment process and define independent scopes of duties for the Attorney General and Public Prosecutor.
This document summarizes the October 31, 2008 issue of the Business Council of Mongolia NewsWire. It discusses developments at the recent BCM monthly meeting, including two member company presentations and remarks from Canadian and South Korean ambassadors. It also provides highlights on Mongolian mining industry news, including preparations for the upcoming "Discover Mongolia" forum, the mining industry's view that the 2006 Minerals Law does not need amending, Mongolia's poor ranking in an international mining report due to its tax policies, and the possibility that copper miners may not need to pay windfall taxes in 2009.
Lokpal bill and the role of civil societyUmesh Bhosale
This presentation describes what is Lokpal bill, why it is needed and the difference between Governments draft and Civil society's draft of the bil etc.
This presentation mainly focuses on Lokpal in India. it also deals with the need of lokpal, how corruption became one of the activities of even the common citizens. it tries to reveal the intention of Governments in the matters relating to Lokpal.
The document summarizes the Jan Lokpal Bill, an anti-corruption bill drafted by civil society activists in India. It discusses key features of the bill such as establishing a central anti-corruption body called Lokpal to investigate corruption cases independently. It also covers differences between the government's draft Lokpal bill and the Jan Lokpal bill, as well as advantages and disadvantages of the proposed bill. Overall, the Jan Lokpal bill aims to create a stronger anti-corruption framework in India by granting more independence and powers to the Lokpal agency.
This document provides information on statutory interpretation of tax laws in Pakistan. It discusses the primary, secondary, and harmonious rules of statutory interpretation. The primary rule looks at the plain meaning of words used in statutes. The secondary rule outlines 11 canons of interpretation, including using preambles, titles, and legislative history to guide interpretation. It also discusses definitions, provisions, deeming fictions, and retrospective vs. prospective application. The document emphasizes interpreting statutes in a way that places a lesser burden on taxpayers. Overall, it outlines the key principles and approaches for properly interpreting Pakistan's tax statutes and treaties.
The document summarizes key differences between the Jan Lokpal draft bill and the government's draft Lokpal bill. Some of the major issues highlighted include:
1) The government's bill excludes the Prime Minister, judiciary, and MPs from Lokpal's purview, while the Jan Lokpal draft includes investigating allegations against all public servants.
2) The government's bill provides less independence and accountability of Lokpal, with selection and removal under government control.
3) The investigation process in the government's bill is seen as overly favorable to the accused and could compromise investigations.
4) The Jan Lokpal draft provides stronger powers and duties for Lokpal to prevent ongoing corruption cases and punish corrupt officials
The document summarizes key differences between the Jan Lokpal draft bill and the government's draft Lokpal bill. Some key issues include:
1) The government's bill excludes the Prime Minister, judiciary, and MPs from Lokpal's purview, while the Jan Lokpal draft includes investigating allegations against all public servants.
2) The government's bill provides less independence and accountability of Lokpal, with selection and removal under government control.
3) The government's investigation process is seen as overly favorable to accused individuals and could compromise investigations.
4) The Jan Lokpal draft provides stronger powers and duties while the government's bill lacks provisions for preventing ongoing corruption and delegating powers.
The document summarizes key differences between the Jan Lokpal draft bill and the government's draft bill. Some of the major issues highlighted include:
1) The government's bill excludes the Prime Minister, judiciary, and MPs from the Lokpal's jurisdiction.
2) The government's bill provides greater protections to accused individuals during investigations and reduces the independence and powers of the Lokpal.
3) The selection process and accountability of the Lokpal members is controlled by the government under their bill versus being accountable to the people under the Jan Lokpal draft.
The document summarizes the Bank Employees and Assets Declaration Law, which aims to curb corruption in the banking sector by requiring bank employees to declare all assets upon employment and annually. It outlines the law's provisions, including mandatory disclosure of assets and income, offenses for noncompliance or falsification, and penalties such as imprisonment, fines, and asset forfeiture. The document recommends strict enforcement of the law through an independent regulatory body to increase transparency and integrity in the banking system.
Lokpal and Lokayukta would be independent anti-corruption ombudsmen established at the central and state levels in India to investigate and prosecute corruption cases involving public officials more effectively. In contrast to existing systems, they would have fixed timelines for investigating complaints, powers to dismiss or suspend accused officials, and ensure swifter trials within one year. Ordinary citizens would have trust that their complaints would be heard without fear of retaliation.
The document outlines key points about the proposed Jan Lokpal Bill in India. It proposes establishing an independent anti-corruption body called LOKPAL at the central level and LOKAYUKTA at state levels to investigate and prosecute cases of corruption within two years. The LOKPAL would have powers to impose penalties on public officials who do not complete citizens' work in time, and investigate cases of corruption in areas like ration distribution and infrastructure projects. Members of the LOKPAL would be selected through a transparent process without political interference. Any complaints against LOKPAL officers would also be promptly investigated. Existing anti-corruption agencies would be merged under the LOKPAL.
Daniel Mathis Report on Chinese Real Estate Securitization issuesDaniel Mathis
This document summarizes China's real estate securitization issues, including the role of local government financing vehicles (LGFVs) and wealth management products (WMPs). It discusses how LGFVs, established by the China Development Bank, allow local governments to finance infrastructure projects through land sales and bond issuances. Commercial banks then package these bonds into high-yield WMPs for investors. However, some LGFVs have taken on too much debt, and high-profile defaults of WMPs have worried regulators given many investors assume they are risk-free like bank deposits.
The document discusses the Lokpal and Lokayuktas Act, 2013 in India. It provides background on the historical development of ombudsman institutions and anti-corruption efforts in India. Key points include: the Act established the Lokpal as an independent body to investigate corruption cases against public officials; there were differences between the government's version of the Lokpal bill and the Jan Lokpal bill promoted by civil society; and while the Act was passed, critics argue it is not working effectively as the Lokpal has not been fully established and people are still waiting to see results in the fight against corruption.
This document discusses corruption in India, including its causes and potential remedies. It notes that corruption exists across many sections of Indian society and government, including the political system, bureaucracy, police, armed forces, judiciary, and religious institutions. Common forms of corruption include bribery, misuse of public funds and resources, and the criminalization of politics. Suggested remedies include strengthening anti-corruption laws and whistleblower protections, computerizing government services, and establishing independent anti-corruption organizations and courts.
The document argues that passing a strong Lokpal bill will significantly boost India's economic growth by facilitating increased transparency and reducing corruption. Specifically:
1. FDI inflows will triple by 2016 and India's GDP will reach $5 trillion by 2025 as transparency increases investor confidence.
2. Infrastructure investment of $1.7 trillion will create 60 million new jobs as transparency reduces costs.
3. Growth will sustain at 8.5% annually, enabling India to become a $5 trillion economy by 2025.
4. National security will also benefit from more defense spending due to economic growth and transparency in defense deals.
The CAG report found that Rs. 5,754 crore of NRHM funds in Uttar Pradesh were unaccounted for between 2005-2011. Officials, contractors, and politicians allegedly colluded to divert funds meant to improve healthcare for the poor. Primary health centers built with NRHM funds were instead used as storage for potatoes and grain. Four deaths are linked to the scam including two chief medical officers who were murdered. A project manager committed suicide while being investigated for his role in NRHM construction irregularities.
Corruption is an old problem in India that manifests in various forms. The document discusses corruption in India, including definitions of different types of corruption like bribery, nepotism, and fraud. It also outlines India's laws against corruption like the Prevention of Corruption Act and agencies that deal with corruption cases like the Central Vigilance Commission. However, corruption continues to be a challenge in India due to issues like lack of political will, slow investigations and trials, and an environment where corrupt influential people protect each other. Comprehensive reforms are needed to strengthen transparency, governance, and moral values to effectively address the deep-rooted problem of corruption in India.
Critical Analysis of Lokpal and Lokayuktas Act, 2013Peter Lal
This document provides an introduction and analysis of the Lokpal and Lokayuktas Act of 2013 in India. It begins with definitions of Lokpal, Ombudsman, and their roles in investigating corruption complaints against public officials. It then summarizes key aspects of the 2013 Act, including the establishment of Lokpal as an independent body at the central level and Lokayuktas at the state level. The summary outlines Lokpal's jurisdiction, complaint and investigation procedures, powers, and provisions regarding complaints against Lokpal members. In conclusion, it identifies issues of debate regarding the inclusion of the Prime Minister and other public figures fully within Lokpal's purview.
Interpretation of Statutes and Agreements in IndiaAnil Chawla
This Guide to interpretation of laws and legal documents is intended for non-legal professionals but may
also be useful for legal professionals and students.
This document provides an overview and summary of key principles for interpreting statutes. It begins with an introduction to statutory interpretation and discusses literal and logical interpretation approaches. It then covers various internal aids to interpretation like context, title, preamble, headings, and definitions. Exceptions to literal interpretation like ambiguity and absurdity are also noted. The document aims to enable law students' understanding of interpreting statutes.
The document discusses several business news highlights from Mongolia. It mentions that the Tavan Tolgoi coal deal will undergo revision, with Japan and Korea potentially receiving stakes. It also discusses Ivanhoe Mines rejecting talks of altering its Oyu Tolgoi contract, Gobi Coal & Energy searching for a buyer, and Indian firms exploring bids for uranium acquisitions in Mongolia.
The document summarizes business news from Mongolia. It discusses several topics:
- Transport firms halting coal exports from Tavan Tolgoi due to unpaid fees. Erdenes-TT seeking a $400-500 million government loan to repay debt and fund infrastructure projects.
- Rio Tinto inviting bankers to arrange $4 billion in project financing for the Oyu Tolgoi copper-gold mine.
- Exploration companies reporting positive drilling results at iron ore projects in Mongolia, confirming wide zones of mineralization.
- Other news items on mining, coal shipping, airline routes, and proposed industry consolidation.
The document summarizes business and economic news from Mongolia reported in Issue 242 of the Business Council of Mongolia NewsWire dated October 5, 2012. Key highlights include:
- Erdenes-TT beginning exploration at West Tsankhi coal mine and Oyu Tolgoi nearing completion of an international airport.
- Chalco abandoning plans to purchase a 30% stake in Winsway Coking Coal and Gobi Energy halting drilling at Ger Chuluu D1 well without discovering hydrocarbons.
- Newera intersecting 26-meter long coal seams at its Shanagan East project and FeOre receiving a mining license for its Dartsagt iron-ore project.
Este documento describe la didáctica crítica como un modelo de enseñanza que requiere que los estudiantes interactúen con su entorno, reflexionen de manera crítica sobre la realidad social, y propongan soluciones de manera colectiva. Se enfoca en cómo los estudiantes aprenden a través de la construcción del conocimiento y la discusión en grupo.
The document outlines a presentation about making meaning of student leadership through experiential learning. It discusses applying Kolb's experiential learning theory to student leadership programs and piloting a peer leader training. Participants reflected on leadership experiences and identified skills to improve. Evaluation found participants better understood their vision and skills through reflection on leadership roles. Next steps include expanding pilot programs and skill development opportunities for students.
This document summarizes a newsletter from the Business Council of Mongolia covering business, economic, and political news in Mongolia. On the business front, it discusses the delay in signing the Oyu Tolgoi investment agreement, Erdenet Mining Corporation's plans to build new smelters, and a specialist dismissing concerns about recent water law amendments. It also notes SouthGobi Energy Resources' offer to list on the Mongolian stock exchange. Regarding the economy, it mentions investors' interest in Mongolia, falling copper prices, and pressure on Mongolia's fiscal balance. Finally, it briefly outlines some political news items covering various meetings, reforms, and international agreements.
Este documento presenta dos herramientas para compartir recursos en línea: Slideshare, que permite publicar presentaciones, documentos y archivos PDF para compartirlos con otros usuarios, y Flickr, un sitio web para almacenar, organizar, buscar y compartir fotografías con una gran comunidad de usuarios.
The document summarizes key differences between the Jan Lokpal draft bill and the government's draft Lokpal bill. Some of the major issues highlighted include:
1) The government's bill excludes the Prime Minister, judiciary, and MPs from Lokpal's purview, while the Jan Lokpal draft includes investigating allegations against all public servants.
2) The government's bill provides less independence and accountability of Lokpal, with selection and removal under government control.
3) The investigation process in the government's bill is seen as overly favorable to the accused and could compromise investigations.
4) The Jan Lokpal draft provides stronger powers and duties for Lokpal to prevent ongoing corruption cases and punish corrupt officials
The document summarizes key differences between the Jan Lokpal draft bill and the government's draft Lokpal bill. Some key issues include:
1) The government's bill excludes the Prime Minister, judiciary, and MPs from Lokpal's purview, while the Jan Lokpal draft includes investigating allegations against all public servants.
2) The government's bill provides less independence and accountability of Lokpal, with selection and removal under government control.
3) The government's investigation process is seen as overly favorable to accused individuals and could compromise investigations.
4) The Jan Lokpal draft provides stronger powers and duties while the government's bill lacks provisions for preventing ongoing corruption and delegating powers.
The document summarizes key differences between the Jan Lokpal draft bill and the government's draft bill. Some of the major issues highlighted include:
1) The government's bill excludes the Prime Minister, judiciary, and MPs from the Lokpal's jurisdiction.
2) The government's bill provides greater protections to accused individuals during investigations and reduces the independence and powers of the Lokpal.
3) The selection process and accountability of the Lokpal members is controlled by the government under their bill versus being accountable to the people under the Jan Lokpal draft.
The document summarizes the Bank Employees and Assets Declaration Law, which aims to curb corruption in the banking sector by requiring bank employees to declare all assets upon employment and annually. It outlines the law's provisions, including mandatory disclosure of assets and income, offenses for noncompliance or falsification, and penalties such as imprisonment, fines, and asset forfeiture. The document recommends strict enforcement of the law through an independent regulatory body to increase transparency and integrity in the banking system.
Lokpal and Lokayukta would be independent anti-corruption ombudsmen established at the central and state levels in India to investigate and prosecute corruption cases involving public officials more effectively. In contrast to existing systems, they would have fixed timelines for investigating complaints, powers to dismiss or suspend accused officials, and ensure swifter trials within one year. Ordinary citizens would have trust that their complaints would be heard without fear of retaliation.
The document outlines key points about the proposed Jan Lokpal Bill in India. It proposes establishing an independent anti-corruption body called LOKPAL at the central level and LOKAYUKTA at state levels to investigate and prosecute cases of corruption within two years. The LOKPAL would have powers to impose penalties on public officials who do not complete citizens' work in time, and investigate cases of corruption in areas like ration distribution and infrastructure projects. Members of the LOKPAL would be selected through a transparent process without political interference. Any complaints against LOKPAL officers would also be promptly investigated. Existing anti-corruption agencies would be merged under the LOKPAL.
Daniel Mathis Report on Chinese Real Estate Securitization issuesDaniel Mathis
This document summarizes China's real estate securitization issues, including the role of local government financing vehicles (LGFVs) and wealth management products (WMPs). It discusses how LGFVs, established by the China Development Bank, allow local governments to finance infrastructure projects through land sales and bond issuances. Commercial banks then package these bonds into high-yield WMPs for investors. However, some LGFVs have taken on too much debt, and high-profile defaults of WMPs have worried regulators given many investors assume they are risk-free like bank deposits.
The document discusses the Lokpal and Lokayuktas Act, 2013 in India. It provides background on the historical development of ombudsman institutions and anti-corruption efforts in India. Key points include: the Act established the Lokpal as an independent body to investigate corruption cases against public officials; there were differences between the government's version of the Lokpal bill and the Jan Lokpal bill promoted by civil society; and while the Act was passed, critics argue it is not working effectively as the Lokpal has not been fully established and people are still waiting to see results in the fight against corruption.
This document discusses corruption in India, including its causes and potential remedies. It notes that corruption exists across many sections of Indian society and government, including the political system, bureaucracy, police, armed forces, judiciary, and religious institutions. Common forms of corruption include bribery, misuse of public funds and resources, and the criminalization of politics. Suggested remedies include strengthening anti-corruption laws and whistleblower protections, computerizing government services, and establishing independent anti-corruption organizations and courts.
The document argues that passing a strong Lokpal bill will significantly boost India's economic growth by facilitating increased transparency and reducing corruption. Specifically:
1. FDI inflows will triple by 2016 and India's GDP will reach $5 trillion by 2025 as transparency increases investor confidence.
2. Infrastructure investment of $1.7 trillion will create 60 million new jobs as transparency reduces costs.
3. Growth will sustain at 8.5% annually, enabling India to become a $5 trillion economy by 2025.
4. National security will also benefit from more defense spending due to economic growth and transparency in defense deals.
The CAG report found that Rs. 5,754 crore of NRHM funds in Uttar Pradesh were unaccounted for between 2005-2011. Officials, contractors, and politicians allegedly colluded to divert funds meant to improve healthcare for the poor. Primary health centers built with NRHM funds were instead used as storage for potatoes and grain. Four deaths are linked to the scam including two chief medical officers who were murdered. A project manager committed suicide while being investigated for his role in NRHM construction irregularities.
Corruption is an old problem in India that manifests in various forms. The document discusses corruption in India, including definitions of different types of corruption like bribery, nepotism, and fraud. It also outlines India's laws against corruption like the Prevention of Corruption Act and agencies that deal with corruption cases like the Central Vigilance Commission. However, corruption continues to be a challenge in India due to issues like lack of political will, slow investigations and trials, and an environment where corrupt influential people protect each other. Comprehensive reforms are needed to strengthen transparency, governance, and moral values to effectively address the deep-rooted problem of corruption in India.
Critical Analysis of Lokpal and Lokayuktas Act, 2013Peter Lal
This document provides an introduction and analysis of the Lokpal and Lokayuktas Act of 2013 in India. It begins with definitions of Lokpal, Ombudsman, and their roles in investigating corruption complaints against public officials. It then summarizes key aspects of the 2013 Act, including the establishment of Lokpal as an independent body at the central level and Lokayuktas at the state level. The summary outlines Lokpal's jurisdiction, complaint and investigation procedures, powers, and provisions regarding complaints against Lokpal members. In conclusion, it identifies issues of debate regarding the inclusion of the Prime Minister and other public figures fully within Lokpal's purview.
Interpretation of Statutes and Agreements in IndiaAnil Chawla
This Guide to interpretation of laws and legal documents is intended for non-legal professionals but may
also be useful for legal professionals and students.
This document provides an overview and summary of key principles for interpreting statutes. It begins with an introduction to statutory interpretation and discusses literal and logical interpretation approaches. It then covers various internal aids to interpretation like context, title, preamble, headings, and definitions. Exceptions to literal interpretation like ambiguity and absurdity are also noted. The document aims to enable law students' understanding of interpreting statutes.
The document discusses several business news highlights from Mongolia. It mentions that the Tavan Tolgoi coal deal will undergo revision, with Japan and Korea potentially receiving stakes. It also discusses Ivanhoe Mines rejecting talks of altering its Oyu Tolgoi contract, Gobi Coal & Energy searching for a buyer, and Indian firms exploring bids for uranium acquisitions in Mongolia.
The document summarizes business news from Mongolia. It discusses several topics:
- Transport firms halting coal exports from Tavan Tolgoi due to unpaid fees. Erdenes-TT seeking a $400-500 million government loan to repay debt and fund infrastructure projects.
- Rio Tinto inviting bankers to arrange $4 billion in project financing for the Oyu Tolgoi copper-gold mine.
- Exploration companies reporting positive drilling results at iron ore projects in Mongolia, confirming wide zones of mineralization.
- Other news items on mining, coal shipping, airline routes, and proposed industry consolidation.
The document summarizes business and economic news from Mongolia reported in Issue 242 of the Business Council of Mongolia NewsWire dated October 5, 2012. Key highlights include:
- Erdenes-TT beginning exploration at West Tsankhi coal mine and Oyu Tolgoi nearing completion of an international airport.
- Chalco abandoning plans to purchase a 30% stake in Winsway Coking Coal and Gobi Energy halting drilling at Ger Chuluu D1 well without discovering hydrocarbons.
- Newera intersecting 26-meter long coal seams at its Shanagan East project and FeOre receiving a mining license for its Dartsagt iron-ore project.
Este documento describe la didáctica crítica como un modelo de enseñanza que requiere que los estudiantes interactúen con su entorno, reflexionen de manera crítica sobre la realidad social, y propongan soluciones de manera colectiva. Se enfoca en cómo los estudiantes aprenden a través de la construcción del conocimiento y la discusión en grupo.
The document outlines a presentation about making meaning of student leadership through experiential learning. It discusses applying Kolb's experiential learning theory to student leadership programs and piloting a peer leader training. Participants reflected on leadership experiences and identified skills to improve. Evaluation found participants better understood their vision and skills through reflection on leadership roles. Next steps include expanding pilot programs and skill development opportunities for students.
This document summarizes a newsletter from the Business Council of Mongolia covering business, economic, and political news in Mongolia. On the business front, it discusses the delay in signing the Oyu Tolgoi investment agreement, Erdenet Mining Corporation's plans to build new smelters, and a specialist dismissing concerns about recent water law amendments. It also notes SouthGobi Energy Resources' offer to list on the Mongolian stock exchange. Regarding the economy, it mentions investors' interest in Mongolia, falling copper prices, and pressure on Mongolia's fiscal balance. Finally, it briefly outlines some political news items covering various meetings, reforms, and international agreements.
Este documento presenta dos herramientas para compartir recursos en línea: Slideshare, que permite publicar presentaciones, documentos y archivos PDF para compartirlos con otros usuarios, y Flickr, un sitio web para almacenar, organizar, buscar y compartir fotografías con una gran comunidad de usuarios.
The presentation outlines Mongolia's growing economy and investment opportunities. It notes that Mongolia's GDP grew 5% in the first half of 2010 and its exports to China in 2009 were $1.41 billion. It highlights strategic mining resources like Oyu Tolgoi which contains over $360 billion in copper and gold deposits. The presentation encourages investment in infrastructure projects, rare earth elements, and supplying the needs of Mongolia's expanding mining sector. It concludes by inviting Hong Kong investors to get involved in major state projects, direct mining opportunities, and businesses that support Mongolia's resource development.
The document is a newsletter from the Business Council of Mongolia that provides news highlights from Mongolia in business, economy, and politics. Some of the key business highlights include: Oyu Tolgoi is expected to begin copper and gold production in August 2012; SouthGobi Resources updated coal reserves at Ovoot Tolgoi; and Winsway Coking Coal plans to issue $500 million in senior notes to finance investments including in Mongolia. Economic highlights include a 30% increase in minimum wages and plans for Mongolian citizens to receive shares in Erdenes MGL. Political highlights discuss Mongolia considering nuclear power and investigations related to riots in July 2010.
This document contains personal and career information for Bahruz Gachayev. It details his date of birth, contact information, education history and work experience. Bahruz has worked in health, safety and environment roles for Saipem-Azfen Joint Venture and Naval Engineering Group since 2014. His responsibilities have included hazard identification, inspections, audits, training and emergency response planning. He holds a bachelor's degree in journalism and various health and safety training certificates.
The American University of Mongolia English Language Institute (ELI) provides a variety of English language programs including general English, English for specific professions, TOEFL preparation, and teacher training. ELI aims to provide learners with English skills and knowledge to broaden their educational and professional opportunities while serving as a model for quality education. The Academic Bridge Program is a full year program for high school graduates taught by international instructors focusing on critical thinking, academic content in English, and university level writing. The Success Program is a 16 week program for 10th to 12th graders covering academic English, career exploration, and learning styles.
James Passin of Firebird Management discusses Firebird being the first institutional investor in Mongolia starting in 2006. Firebird accumulated positions on the Mongolian Stock Exchange during periods of low liquidity and market distress. Firebird gained control of Sharyn Gol, one of Mongolia's largest mining companies, and led its restructuring. Firebird believes in championing corporate governance to increase investor confidence and equity valuations over the long run. The presentation outlines Firebird's view that Mongolia's stock market is poised for significant growth as international interest increases due to the country's economic growth and mineral wealth.
This document summarizes socio-political trends in Mongolia from survey data collected between 2012-2014. It shows changes over time in:
- Voter preferences between the main political parties. Support for the Democratic Party has increased while support for the MPP has decreased.
- Issues of most concern to citizens, with unemployment and inflation consistently ranking high.
- Satisfaction with the business environment and investment conditions, both of which have declined.
- Government approval ratings, which have decreased slightly over the period.
- Perceptions of successes of the government, with dealing with corruption and agriculture most commonly cited.
Ricoh Higher Ed Services Overview Brochure-KallaiRay Kallai
Ricoh provides a range of services to support higher education institutions including:
1) Consulting services to help optimize business workflows, classroom technology, student records management, and environmental sustainability.
2) Campus print and mail/package solutions to enhance the user experience and increase efficiency.
3) Education analytics to help instructors design tests and analyze results using multifunction devices.
This document provides a holiday giving guide from PayPal that highlights various ways PayPal enables users to donate to charitable causes and spread holiday cheer through gifts. It discusses how PayPal makes charitable giving and online shopping convenient through features like one-touch checkout, purchase protection, and the ability to donate or split costs with friends directly from the PayPal app. The guide also promotes several nonprofit partners and suggests timelines for holiday shopping, charitable giving, and using PayPal services throughout the season.
The document summarizes news from Mongolia covering business, economic, and political topics. Key points include:
- Mongolia is seeking loans from the IMF and other countries totaling $3 billion to help plug its budget deficit amid falling commodity prices and demand.
- The number of mining licenses in Mongolia increased by 558 in the last 8 months, with exploration licenses increasing by 31.
- Over 61,000 livestock died in 8 western Mongolian provinces due to harsh winter weather conditions.
- Moody's is preparing to downgrade Mongolia's credit ratings due to concerns over its deteriorating external payments position and inability to ensure fiscal sustainability.
This document discusses human resource risks that can negatively impact company profits. It identifies several factors that influence employee productivity, such as personality, emotional intelligence, discipline, leadership, organizational culture, and motivation. The document also lists common human risks like error patterns in thinking and behavior, such as not taking care of one's health or teammates. Finally, it proposes ways to prevent these risks, such as implementing systems for psychological well-being, purpose, communication, team roles, and skills management to develop human resources and turn crises into opportunities.
Ana Lilia Gray is seeking a Principal position and has over 15 years of experience in education. She holds a Bachelor's degree in Liberal Studies, a Master's degree in Elementary Curriculum and Instruction, and an Administrative Credential. Currently, she works as Vice Principal at Audubon K-8 School, where her responsibilities include instructional leadership, student achievement, parent involvement, and school operations. Prior to this role, she was an In-School Resource Teacher and classroom teacher. She has a proven track record of improving student outcomes through data-driven instruction, professional development, and behavioral support programs. References are provided from her current and previous principals.
The document is a proposal from the Energy Economics Institute for research on Mongolia's energy sector. It introduces the institute and provides an overview of its history and structure. The proposal then outlines several areas of research, including assessing Mongolia's fuel and energy balance, improving electricity transmission infrastructure, conducting feasibility studies for power plants, updating energy standards, and researching renewable energy and energy efficiency. It proposes specific studies on regional energy policy, natural gas pipelines, production norms, and establishing an energy research center. The proposal aims to provide guidance and research to support Mongolia's energy sector development.
The document discusses a presentation about experiential learning through student leadership experiences. It describes research conducted on learning outcomes for students participating in student government. Interviews with student government members found that they learned practical skills like time management as well as interpersonal skills such as leadership and relationship building. Students reported learning in domains of practical competence, interpersonal competence, and cognitive complexity. The presentation recommends that student affairs practitioners recognize the value of student leadership positions in promoting experiential learning and development of transferable skills.
The document summarizes news from the Business Council of Mongolia newsletter. It discusses ongoing negotiations over an agreement for the Oyu Tolgoi mining project. Parliament agreed to discuss the revised draft agreement but will not vote on it until after Naadam celebrations next week. There is debate around several issues in the draft including Mongolia's ownership stake, the initial agreement period, and selling of gold within Mongolia. Heavy investment in the project is not expected to begin before next spring, even if the agreement is signed this summer, due to the time needed for financing and construction plans.
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
This document provides a summary of news highlights from the Business Council of Mongolia newsletter. It discusses several mining projects and investments in Mongolia, including the ongoing negotiations over the Oyu Tolgoi agreement. MPs are working to finalize an agreement but want to take time to ensure it benefits Mongolia. Other highlights include a coal project acquisition, updates on mining operations at Boroo Gold, and economic impacts of the global crisis.
This document provides a summary of news highlights from the Business Council of Mongolia newsletter. It discusses several mining projects and investments in Mongolia, including the ongoing negotiations over the Oyu Tolgoi agreement. MPs are working to finalize an agreement but want to ensure it benefits Mongolia. Other stories discuss royalty rates, progress on mining projects like Boroo Gold, and new acquisitions of coal properties in Mongolia. Overall, the document outlines recent Mongolian business and economic news with a focus on the mining industry.
This document provides a summary of business and economic news from Mongolia. It discusses Parliament approving an agreement for the Oyu Tolgoi mining project, which will benefit the economy. It was seen as an improvement over previous agreements. The document also mentions a fair trade investigation clearing G-Mobile of wrongdoing in a dispute with other cell carriers and the potential bankruptcy of Anod Bank.
This document provides a summary of business and economic news from Mongolia in its March 13, 2009 issue. Key points include: Parliament is unlikely to debate an investment draft on the Oyu Tolgoi project in the current session due to reservations from both major parties; Rio Tinto denies plans to delay the Oyu Tolgoi project and is keen to ramp up development; Mongolia's prime minister's economic advisor indicates the government may rethink the gold windfall tax; and the EBRD plans to take an equity stake in a privately-held Mongolian mining operation to strengthen the private sector role in mining.
The document provides highlights from a newsletter on business and economic news in Mongolia. It discusses several topics:
- Mongolia's parliament is forwarding proposals on revising the draft investment agreement for the Oyu Tolgoi mining project to the government, including cutting the initial agreement period from 30 to 15 years.
- Members of parliament say the $125 million advance payment to Mongolia from the agreement is essentially a "high-interest loan".
- Only 0.3% of the land covered by Mongolia's over 5,200 mining licenses is actually being used for mining.
- A mining industry group wants the government to ensure stability in policies to support growth of the private sector in mining.
The document summarizes recent news from Mongolia related to business, economy, and politics. It discusses how Parliament asked the government to finalize mining agreements for Oyu Tolgoi and Tavan Tolgoi by February 1st. It also mentions that the risk of miners abandoning projects in Mongolia is high due to lack of progress on mining laws and taxes. Additionally, it provides details on workforce reductions at the Oyu Tolgoi mine and caps on foreign ownership in strategic deposits proposed in draft amendments to minerals laws.
The document summarizes recent news from Mongolia related to business, economic, and political issues. It discusses topics such as the mining law, investment in mining projects like Oyu Tolgoi and Tavan Tolgoi, uranium policy, inflation rates, trade deficits, and industrial development plans. Officials and experts are quoted discussing the need for a stable legal environment to attract investment in mining, as well as fiscal and monetary policy measures to manage inflation and economic growth.
The document summarizes the major developments in 2009 regarding negotiations over an investment agreement for the Oyu Tolgoi copper and gold mine in Mongolia. Key events included:
- Negotiations between the Mongolian government and investors Rio Tinto and Ivanhoe Mines over Mongolia's ownership share and taxes on the project.
- A draft agreement was reached in February giving Mongolia 34% ownership that would increase to 50% after 30 years, along with $125 million in advance payments and taxes in accordance with Mongolian law.
- The draft agreement faced review by Mongolia's National Security Council and Parliament for final approval.
Laurenz Melchers will take over as Chairman of the Business Council of Mongolia in January, replacing Peter Morrow who has been temporary Chairman. Melchers is a co-founder of Mongolian Star Melchers Company and has lived in Mongolia since 1997. The draft mining resolution prepared by MPs was criticized by the President of the Mongolian National Mining Association as being vague, disappointing, and contradictory. BHP Billiton called off its proposed acquisition of Rio Tinto, citing deteriorating market conditions and regulatory demands.
The document summarizes news from the Business Council of Mongolia newsletter. Key points include:
- Parliament will discuss draft changes to laws on taxes and infrastructure to facilitate an investment agreement for the giant Oyu Tolgoi copper/gold mine.
- There is disagreement between mobile phone companies in Mongolia over rates, disrupting service for over 200,000 users.
- Details revealed of the revised Oyu Tolgoi investment draft agreement, which would abolish the controversial 68% windfall profits tax and stabilize other taxes.
- A mining industry seminar criticized recent laws seen as hampering the mining sector without economic benefit.
This document summarizes news from the October 16, 2009 issue of the Business Council of Mongolia NewsWire. It includes the following highlights:
1) The head of Mongolia's Nuclear Energy Agency attempted to calm concerns from uranium companies about a new law regarding state ownership, saying the law does not affect existing exploration licenses.
2) A joint venture between Mongolia and Russia wants to remove Khan Resources from a uranium project in Mongolia, but it is unclear how this could be done legally given Khan Resources' existing exploration license.
3) Rio Tinto purchased additional shares in Ivanhoe Mines for $388 million as part of an agreement to increase its stake in the company, which is developing
The document provides news highlights from the Business Council of Mongolia covering business, economic, and political news in Mongolia. It includes the following key points:
- An MP says the OT agreement has become politicized and further delays in approval are likely. Local people want mining to begin at Oyu Tolgoi.
- MPs wish to study a new economic assessment of Oyu Tolgoi before further discussions. Investors are open to reviewing loan interest rates.
- A former governor says local people want work at Oyu Tolgoi to start without delay to generate jobs and development.
The document summarizes the key news highlights from Issue 75 of the Business Council of Mongolia NewsWire dated June 26, 2009. It discusses ongoing political debates in Mongolia around foreign investment agreements for the Oyu Tolgoi and Tavan Tolgoi mining projects. The ruling MPRP party is shifting its focus to starting work at Tavan Tolgoi coal deposits to generate revenue for social programs. However, the opposition DP sees this as politically motivated and thinks the two projects should be negotiated together. There is also division in Parliament around proposed changes to uranium mining licenses in Mongolia. The monthly meeting of the Business Council of Mongolia was also summarized.
The document summarizes news from Mongolia's Business Council newsletter. It discusses several business deals and policy issues, including Western and Tinpo resuming talks on a failed mining deal, a deputy speaker hinting that the government may seek private stakes in the Oyu Tolgoi mining project, and Rio Tinto saying it will not cede majority control of Oyu Tolgoi to the government. It also notes that 57 gold mining companies paid a windfall tax while 15 did not.
The Business Council of Mongolia held its monthly meeting on December 8th. Key topics discussed included making the Digital Mongolia Technology Symposium an annual event, suggestions for reforming vocational training, and accompanying the President to the World Economic Forum. Rio Tinto announced plans to cut 14,000 jobs and slash spending due to falling commodity prices. The Mongolian government will draft investment agreements for the Oyu Tolgoi and Tavan Tolgoi deposits by January 20th, with the goal of the state owning up to 51% of shares. An explanation was provided for differences between the law and recommendations regarding state ownership levels.
The document summarizes a newsletter from the Business Council of Mongolia covering business, economic, and political news in Mongolia. It discusses ongoing parliamentary debate on an investment agreement for the Oyu Tolgoi copper-gold mine, changes made to the proposed windfall profits tax, and indications from the Mongolian government that it is willing to show flexibility on taxes for gold mining companies. It also provides a recap of the most recent BCM monthly meeting which discussed Mongolia's economic situation and relations with the IMF, US, and other countries.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several key stories:
1) Ivanhoe Mines and Rio Tinto agreed to change provisions in their agreement for Rio to invest in Ivanhoe's Oyu Tolgoi project to allow Ivanhoe to potentially sell a minority stake and delay Rio's investment deadline.
2) Mongolia's Minister of Mineral Resources said last-minute issues are being resolved so the Oyu Tolgoi investment agreement can be signed by September 30th.
3) An updated mining report termed the Oyu Tolgoi agreement a "landmark" that will boost foreign investment in Mongolia's mining industry.
4) However, former
The document provides a summary of business and economic news from Mongolia. It discusses several mining projects including agreements related to the Oyu Tolgoi project between Ivanhoe Mines, Rio Tinto, and the Mongolian government. It also mentions coal mining projects from companies such as SouthGobi Resources, Hunnu Coal, and Mongolia Energy Corp. In addition, it briefly outlines political and economic topics covered in the issue including credit ratings for Khan Bank and XacBank, rare earth minerals, and currency exchange rates.
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.
Shark Tank Jargon | Operational ProfitabilityTheUnitedIndian
Don't let fancy business words confuse you! This blog is your cheat sheet to understanding the Shark Tank Jargon. We'll translate all the confusing terms like "valuation" (how much the company is worth) and "royalty" (a fee for using someone's idea). You'll be swimming with the Sharks like a pro in no time!
projet de traité négocié à Istanbul (anglais).pdfEdouardHusson
Ceci est le projet de traité qui avait été négocié entre Russes et Ukrainiens à Istanbul en mars 2022, avant que les Etats-Unis et la Grande-Bretagne ne détournent Kiev de signer.
16062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Christian persecution in Islamic countries has intensified, with alarming incidents of violence, discrimination, and intolerance. This article highlights recent attacks in Nigeria, Pakistan, Egypt, Iran, and Iraq, exposing the multifaceted challenges faced by Christian communities. Despite the severity of these atrocities, the Western world's response remains muted due to political, economic, and social considerations. The urgent need for international intervention is underscored, emphasizing that without substantial support, the future of Christianity in these regions is at grave risk.
https://ecspe.org/the-rise-of-christian-persecution-in-islamic-countries/
Apna Punjab Media is a Punjabi newspaper that covers local and global news, cultural updates, and community events. It's a trusted source for Punjabi-speaking communities, offering a mix of traditional values and modern insights into Punjab's vibrant life and heritage.
विवादास्पद फिल्म के ट्रेलर से गाली-गलौज वाले दृश्य हटा दिए गए हैं, और जुर्माना लगाया गया है। सुप्रीम कोर्ट और बॉम्बे हाई कोर्ट दोनों ने फिल्म की रिलीज पर रोक लगा दी है और उसे निलंबित कर दिया है। पहले यह फिल्म 7 जून और फिर 14 जून को रिलीज होने वाली थी, लेकिन अब यह 21 जून को रिलीज हो रही है।
मद्रास उच्च न्यायालय के सेवानिवृत्त न्यायाधीश और केंद्र और राज्य सरकार के नौकरशाहों सहित आठ अन्य लोगों की अध्यक्षता वाली एक उच्च स्तरीय समिति ने 2021 में NEET परीक्षा को खत्म करने की सिफारिश की थी। महत्वपूर्ण बात यह है कि रिपोर्ट में 2010-11 में ग्रामीण पृष्ठभूमि से तमिल छात्रों की संख्या में 61.5% की भारी गिरावट को दर्शाया गया है। इसके बजाय मेट्रो छात्रों में वृद्धि दर्ज की गई है।
लालू यादव की जीवनी LALU PRASAD YADAV BIOGRAPHYVoterMood
Discover the life and times of Lalu Prasad Yadav with a comprehensive biography in Hindi. Learn about his early days, rise in politics, controversies, and contribution.
19 जून को बॉम्बे हाई कोर्ट ने विवादित फिल्म ‘हमारे बारह’ को 21 जून को थिएटर में रिलीज करने का रास्ता साफ कर दिया, हालांकि यह सुनिश्चित करने के बाद कि फिल्म निर्माता कुछ आपत्तिजनक अंशों को हटा दें।
18062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Recent years have seen a disturbing rise in violence, discrimination, and intolerance against Christian communities in various Islamic countries. This multifaceted challenge, deeply rooted in historical, social, and political animosities, demands urgent attention. Despite the escalating persecution, substantial support from the Western world remains lacking.
#WenguiGuo#WashingtonFarm Guo Wengui Wolf son ambition exposed to open a far...rittaajmal71
Since fleeing to the United States in 2014, Guo Wengui has founded a number of projects in the United States, such as GTV Media Group, GTV private equity, farm loan project, G Club Operations Co., LTD., and Himalaya Exchange.
केरल उच्च न्यायालय ने 11 जून, 2024 को मंडला पूजा में भाग लेने की अनुमति मांगने वाली 10 वर्षीय लड़की की रिट याचिका को खारिज कर दिया, जिसमें सर्वोच्च न्यायालय की एक बड़ी पीठ के समक्ष इस मुद्दे की लंबित प्रकृति पर जोर दिया गया। यह आदेश न्यायमूर्ति अनिल के. नरेंद्रन और न्यायमूर्ति हरिशंकर वी. मेनन की खंडपीठ द्वारा पारित किया गया
La defensa del expresidente Juan Orlando Hernández, declarado culpable por narcotráfico en EE. UU., solicitó este viernes al juez Kevin Castel que imponga una condena mínima de 40 años de prisión.
19 जून को बॉम्बे हाई कोर्ट ने विवादित फिल्म ‘हमारे बारह’ को 21 जून को थिएटर में रिलीज करने का रास्ता साफ कर दिया, हालांकि यह सुनिश्चित करने के बाद कि फिल्म निर्माता कुछ आपत्तिजनक अंशों को हटा दें।
1. BUSINESS COUNCIL of MONGOLIA
NewsWire
www.bcmmongolia.org
info@bcmmongolia.org
Issue 70, May 22 2009
NEWS HIGHLIGHTS:
Business: Ivanhoe official dispels misgivings based on misperception; Ivanhoe ready for an
agreement “equitable and fair to both sides”; CNNC announces extension of offer for
Western Prospector; Denison Mines names new men at top; MCA appoints
environmental consultant; No political vendetta in Anod Bank, affirms Prosecutor; Oil
exploration attracts investors; Chinese companies shelve plans to build plant to
process iron ore; Students thank Ivanhoe Mines for help; Aussie shareholder feels Rio-
Chinalco “can, should revise” deal; Australia likely to demand revisions in Rio-
Chinalco deal.
Economy: Russia in USD7 billion deal to build railroads, develop mineral deposits; Russia to pay
for licenses, Mongolia will invest in the mining; Russia could build large plants, using
Mongolian coal to sell power to China; 100,000 Mongolian sheep for Tuva; Surge in
MNT savings; Government sets privatization goals until 2012; President proposes
withdrawal of duty on cashmere export; More herders to join insurance program;
Australia to overtake Mongolia in supplying coking coal to China; Unemployment rises
15% yoy; Air freight drops to almost half in a year; Tax revenue drops 35 percent;
Monetary policy flayed as not being flexible; Trade balance shows deficit of USD93.3
million; Industrial output falls 7.6% in a year; Mongolian companies buy 1,000
transport wagons; Mongolian company resumes flour import after a year; 40% of
extraction licenses are for gold; ; MNT540 billion frozen in construction sector; Most
construction work done by domestic companies; Conference favors legal regulation of
artisanal mining; Workshop on mine safety wants ILO Convention ratified;
Shareholders caution EBRD on expanded lending; Family business in Canada makes 48
town homes for Ulaanbaatar.
Politics: Mongolia braces for presidential poll; Russia wants to re-assert old control, feels
foreign policy specialist; Putin's visit underlines an ongoing process of resuming old
ties; Mongolia: The Kremlin takes aim; Can Government reject a proposal approved by
Parliament?; Not all students may be able to vote; Standing Committees fail to meet,
so does Parliament; Presidential candidates debate on TV; NGO monitors TV coverage
of presidential campaign; Minister Zorigt holds meetings in USA; First Mongolian Gates
scholar named; 1,800 children too poor to go to school; Program to spread knowledge
of English begins; Crimes rise.
MEETING NOTICE TO BCM MEMBERS
The next BCM monthly meeting for Members will be Monday, May 25 at 5 PM at the Open Society
Forum.
Our meeting will feature a presentation by the Deputy Minister of Social Welfare and Labor, Mr.
D.Nyamkhuu. on “The Mongolian Labor Market”. Another presentation will be by Mr.
Ch.Khashchuluun, Chairman, National Development & Innovation Committee (NDIC), on “The NDIC
Action Plan for Private Sector Development”. The Ambassador of South Korea to Mongolia, Mr.
Chung Il, will review Mongolian-South Korean bilateral relations. Mr. L.Sumati, Director of Sant
Maral Foundation and Vice Chairman of BCM, will update us on a subject of great interest, the
results of the voting on Sunday, May 24 for the PRESIDENTIAL ELECTION.
Teleconferencing will again be available for Members not able to attend in person. Call number is
(1-218) 936-7979, access code 771358 to be connected. Cost will be solely that of the long distance
2. call to the above US number.
BUSINESS
IVANHOE OFFICIAL DISPELS MISGIVINGS BASED ON MISPERCEPTION
Mr. A.Munkhbat, Vice President, Ivanhoe Mines Mongolia, answered some questions from a
journalist:
Many MP’s want the draft agreement to be signed with the parent company, Ivanhoe Mines
Ltd., and not with Ivanhoe Mines Mongolia Inc. What do you think of the suggestion?
The original idea, as agreed on in the draft of the agreement prepared in 2007, was to conclude the
investment agreement with three companies - Rio Tinto, Ivanhoe Mines Limited, and Ivanhoe Mines
Mongolia Inc. However, the current Minerals Law says that the investment agreement has to be
made with a license holder and that is why only Ivanhoe Mines Mongolia was chosen. This was to
preempt any criticism that the laws were being violated. I think the investors will have no problem
accepting any Mongolian suggestion that the parent company be involved. The Minerals Law would
also not be breached if three companies from the investor’s side, and not just the license holder,
sign the agreement. This was, in any case, the original idea.
MPs have expressed concern that Ivanhoe Mines Mongolia Inc is an off-shore company. Are
they right to worry?
This should not cause any worry among Mongolians. The company is properly registered in Mongolia
to develop a deposit located in the territory of Mongolia. It will pay all taxes and fulfill all
obligations in compliance with Mongolian laws. Being off-shore is a kind of protection to reduce the
tax burden on the parent company -- that is registered in another country -- after it has paid all
taxes and fees to Mongolia. The intention is not to evade tax, but to claim tax benefits in a
perfectly legal manner. The Mongolian side need have no fear that we shall not pay taxes and
disregard legal obligations here. All it means is that the parent company gets some tax benefits
abroad. Mongolia does not lose anything because we are an offshore company.
What do you think of the proposal by several Members of Parliament to amend the Minerals
law so that resources would be added to the registered capital of the company?
Yes, some MPs are suggesting that ratification of the investment agreement should wait until the
Minerals Law is first amended. There can be no question of treating underground resources as part
of the registered capital. There is no such provision in the Constitution or in the Minerals Law.
Actually, treating underground resources as forming part of the registered capital of an entity or a
company will be a blatant violation of the Constitution which is clear that all such mineral wealth is
the property of the people.
Read More…
There is a common feeling that Ivanhoe Mines is selling Mongolian wealth to its Government
that it is selling 34 percent ownership of wealth it already owns. Perhaps you see it
differently?
We are talking about an investment of billions of dollars. The Mongolian Government is entitled to
34 percent ownership without paying anything. Ivanhoe Mines Mongolia Inc. will use its funds to pay
for the proportionate investment of the 34% owner. The agreement offers the 34% ownership to the
Mongolian Government free, but every shareholder has to pay their part of the investment. Since
the Mongolian Government does not have that kind of money right now, we shall be paying for
them. What we pay will be adjusted against dividends as they fall due. This is exactly what was
done in the case of the Erdenet joint venture, where Mongolia acquired 50 percent ownership free
of charge and Russia invested on its behalf. That investment was part of our “great debt” and
nobody seemed to mind.
Why are the negotiations getting so complicated?
Some people are distorting the issue, maybe deliberately, maybe because of their lack of
understanding. For example, some fresh proposals are contrary to Constitutional provisions. Some
are suggesting that if the two sides cannot reach an agreement, the Government will confiscate the
3. investor’s license, sell it at a fresh auction and pay a certain amount to the original license holder
as compensation. However, confiscation of property is prohibited under the Constitution. Mongolia
is a democratic country and I hope that Members of Parliament will apply their mind to the issues
involved with proper seriousness.
Some MPs have said that the underground wealth of Mongolia is being sold at foreign stock
exchanges; is this the case?
This shows a clear lack of understanding of how things work. Shares of many companies that
operate mostly in developing countries are sold at stock exchanges of America, Europe and Asia.
There is no complaint that the mineral resources of any of these countries are thus being sold off.
No minerals are sold when shares are traded. This is just a way of raising capital by advertising how
profits can be made in a particular country rich in minerals by investing in mining operations there.
Besides, the money made from sale of shares at a public issue at a stock exchange cannot be kept,
but is utilized as the source of financial investment and has to be paid back in any of a variety of
ways. If there was enough capital in Mongolia waiting to be invested, the mining companies would
certainly offer shares here. There is no economic justification to impose a condition that a
percentage of shares has to be offered in the country. That is not the way the system works.
What about complaints that the feasibility study of the project was not adequately detailed?
It all depends on what exactly you expect from a particular feasibility study. To date, Ivanhoe
Mines has completed three feasibility studies, and submitted all of them to the Government, the
first in January, 2004. The second, an integrated development plan of the deposit, was submitted
in October, 2005, while the third was worked out last year. It is under translation into Mongolian
and would be ready to be submitted to the Government by the end of this month. The English
version was delivered in March and the party groups in Parliament have it, too. However the
investment agreement has to be concluded in order that the feasibility study can be finalized. A
clear idea of the tax rates is essential to determine whether implementing a project is
economically rewarding or not. In the present case, for example, the investor as well as banks and
other financial institutions are certain that if the windfall profits tax stays there would be no
economic incentive left.
The Russian media report that Russia has agreed to participate in developing Tavan Tolgoi
and Oyu Tolgoi deposits. What do you think about this?
I understand that a joint company will be established with investment from state owned entities in
both Mongolia and Russia to develop infrastructure required for utilizing large deposits in Gobi
region. I assume that is all that the joint venture will do and not directly participate in mining
operations. The wrong understanding possibly arises from the fact that Erdenes MGL, which holds
the license for Tavan Tolgoi and which is expected to be the official partner of Ivanhoe Mines
Mongolia Inc, signed the agreement with a Russian company to establish that joint venture to build
railroads. But that company is not going to work in the mining sector. Also, the name of the entity
is Infrastructure Development.
Source: Ardiin Erkh
IVANHOE READY FOR AN AGREEMENT “EQUITABLE AND FAIR TO BOTH SIDES”
Announcing results and reviewing its operations in the quarter ended March 31, Ivanhoe Mines Ltd.
has said that, along with its strategic partner, Rio Tinto, it remains prepared to complete an
agreement on Oyu Tolgoi Project with the Government of Mongolia that is equitable and fair to
both sides. The companies are also continuing to assess the implications for the project and its
development schedule of the delays in approval of the agreement, the sharp declines in certain
commodity prices, and continuing uncertainty in international financial markets.
Ivanhoe has recorded a net loss of USD56.0 million, compared to a net loss of USD63.6 million in
Q1'08. The results for Q1'09 were mainly affected by USD37.4 million in exploration expenses and
USD9.3 million in mainly unrealized foreign exchange losses. These were offset by USD10.7 million
in income from discontinued operations. Exploration expenses decreased USD19.9 million from
Q1'08, and included USD26.9 million spent in Mongolia (USD44.1 million in Q1'08), primarily for Oyu
4. Tolgoi and Ovoot Tolgoi. The company’s cash position, on a consolidated basis at March 31, 2009,
was USD327.1 million.
Among the highlights in a review of its operations, the company notes that its 80%-owned
subsidiary, SouthGobi Energy Resources sold approximately 127,000 tons of coal worth USD3.5
million to customers in China from its Ovoot Tolgoi mine in southern Mongolia. The parliamentary
review process of a draft Investment Agreement and a companion Shareholders' Agreement to begin
construction of the Oyu Tolgoi copper-gold mining complex is continuing.
Read more…
Negotiations began in January with a newly formed Government Working Group on a competitive
agreement that would recognize the realities of the current international investment environment
and the economic benefits inherent in the development of the Oyu Tolgoi Project. Mongolian law
provides for the completion of Investment Agreements to establish long-term stability of taxation
and other fiscal policies and assurances regarding the operational environment necessary for new
mine developments. An agreement for Oyu Tolgoi requires the approval of the national Parliament.
Following the completion of negotiations, each page of the draft Investment Agreement was
initialed by representatives of both the Mongolian Cabinet and Ivanhoe Mines Mongolia Inc. LLC
before the document was presented to Parliament in March as part of the final approval process.
The parliamentary review process has continued into May.
The engineering and development team remained focused on maintaining the Oyu Tolgoi Project in
a position to commence construction once an agreement is finalized. There was limited
underground work at site during Q1'09. The company will prepare an update to the project's
Integrated Development Plan once an acceptable agreement has been negotiated with the
Government of Mongolia and approved by all parties - including the Board of Directors of Ivanhoe
Mines.
SouthGobi's Q1'09 sales were impacted by difficulties expediting the movement of its coal
shipments across the Mongolia-China border. The Ceke crossing operated only five days a week, on
the day shift, during January and February this year, greatly limiting the volume of coal that
SouthGobi was able to move to China. As a result, SouthGobi curtailed production to a day shift in
January 2009. This was followed by a mine shut down February 24, although crews continued
loading stockpiled coal into customers’ trucks. In March 2009, the border point began operating
eight hours a day, seven days a week, which enabled the shipment of more than 115,000 tons of
coal during the month. SouthGobi expects to be in a position to resume mining operations at Ovoot
Tolgoi in the near future if the border crossing maintains its current openings. SouthGobi is in talks
with the Mongolian Government to keep the border open 24 hours a day year round.
SouthGobi has appointed Norwest to complete a new Technical Report for the Ovoot Tolgoi project
incorporating data obtained from drilling completed up to the end of 2008. The report is expected
to be completed later in 2009.
Source: www.ivanhoemines.com
CNNC ANNOUNCES EXTENSION OF OFFER FOR WESTERN PROSPECTOR
CNNC International ("CNNC") and Western Prospector Group Ltd. ("Western") announced today that
CNNC's indirect wholly-owned subsidiary, First Development Holdings Corporation (the "Offeror") has
extended its offer to acquire all of the outstanding common shares of Western. The notice of
extension sent to Western shareholders amends the offer dated April 15, 2009 to extend the expiry
date from 5:00 p.m (Toronto time) on May 21, 2009 to 5:00 p.m. (Toronto time) on June 29, 2009.
As disclosed in a press release and a material change report filed by Western, dated April 14, 2009
and April 22, 2009, respectively, a notice was received from the Mineral Resources Authority of
Mongolia stating that Western's exploration licenses 7685X and 4969X, which are the primary
licenses for Western's Gurvanbulag deposit have been suspended for three months due to violations
cited by inspectors from Mongolia's Atomic Energy Agency. If Western is not able to satisfy
inspectors from Mongolia's Atomic Energy Agency that such violations have been corrected, then
Western's licenses 7685X and 4969X may be subject to revocation.
The expiry time of the Offer is being extended to 5:00 p.m. (Toronto time) on June 29, 2009 to
permit certain conditions relating the business, affairs, properties and operations of Western as set
forth in Section 4 of the Offer to be met as well as to permit shareholders who have not yet
tendered their shares under the Offer an extended opportunity to do so. As disclosed earlier, the
5. board of directors of Western has unanimously determined that the offer is in the best interests of
Western shareholders and has unanimously recommended that its shareholders accept the offer.
Source: Marketwire, www.westernprospector.com
DENISON MINES NAMES NEW MEN AT TOP
Canadian uranium producer Denison Mines has named COO Ron Hochstein as president and CEO, and
Dr. James Gill as Chairman of the Board. Denison has uranium mining assets in the US and Canada,
as well as exploration properties in Zambia and Mongolia. Dr. Gill will focus on business
development and growth at Denison, the company said in a statement.
Source: www.miningweekly.com
MCA APPOINTS ENVIRONMENTAL CONSULTANT
Euroconsult Mott MacDonald of the Netherlands has been appointed environmental and social
oversight consultant to MCA-Mongolia to ensure that its programs meet environmental and social
safeguards and mitigation standards. It will be helped in its work by two local sub-consultants,
Energy and Environment Ltd., and an NGO, Green Focus Facilitator. Besides a general
environmental and social impact assessment, the consultants will be responsible for project-specific
tasks, and for developing and implementing environment management plans, as well as capacity
building programs, including needs assessment and training activities.
The contract covers the period from June 3, 2009 to September 17, 2013.
Source: Montsame
NO POLITICAL VENDETTA IN ANOD BANK, AFFIRMS PROSECUTOR
The State Prosecutor General’s Office has refuted suggestions that former senior officials of the
Anod Bank scandal are being harassed because of political reasons and that the problems in the
bank largely stemmed from the general economic crisis, and not from deliberate mismanagement.
According to the Office, investigations have clearly revealed that the earlier board of directors of
the bank transferred MNT55.3 billion from accounts abroad to private accounts here. They also
bought shares worth MNT6 billion by unauthorized use of their friends’ identities, and lent billions
of MNT to their relatives without collateral. They were also found to have failed to record in the
bank’s accounts several loans that were paid back, continuing to show them as bad debt and as loss
for the bank.
Source: Zuunii medee
OIL EXPLORATION ATTRACTS INVESTORS
Half of Mongolia’s oil fields will be under exploration in the near future. Five drilling companies are
already at work and four more will start in six areas soon. A product sharing agreement with the
two of these that are Mongolian -- MCS Holding and Shunkhlai Energy – will soon be signed allowing
them to begin operations in one area each of the country’s 26 oil fields. Giving this information to
newsmen, the Director of the Petroleum Authority, Mr. D.Amarsaikhan, said USD600 million was
likely to be invested this year alone on exploration and when work begins it will give a clearer idea
of just how much the country’s oil reserves are.
Under the product sharing agreement, the Mongolian Government “does not spend a single penny
on exploration and production”, he said. However, Mongolia will get at least 35% of the profits and
if two million barrels of oil are produced annually, MNT39 billion should accrue to the State budget.
This amount will go up as production rises to three million barrels next year.
Source: www.news.mn
CHINESE COMPANIES SHELVE PLANS TO BUILD PLANT TO PROCESS IRON ORE
Two Chinese companies that hold exploitation licenses for the Tomort and Kharaat iron ore deposits
in Dundgobi province have shelved their initial plans to build a processing plant so that they could
export iron concentration and not just the ore. They have told the Governor of the province that
iron prices have dropped in the world market and other factors have also influenced their decision.
Source: Zuunii medee
6. STUDENTS THANK IVANHOE MINES FOR HELP
Graduating students from various universities who had received financial support from Ivanhoe
Mines Mongolia Inc. recently met with officials of the company to express their gratitude for the
aid. Mr. Keith Marshall, executive director of the company, asked the students what they planned
to do after graduation. The company has been running this assistance program for five years and
has thereby helped a number of students during times of increasing tuition fees.
Source: Zuunii medee
AUSSIE SHAREHOLDER FEELS RIO-CHINALCO “CAN, SHOULD REVISE” DEAL
Top Australian shareholders in Rio Tinto Ltd. have called for changes in the company’s planned
USD19.5 billion tie-up with China's state-owned Chinalco, and a newspaper reported that Chinalco
would restructure the deal. The tie-up, which would give Chinalco stakes in some Rio mining assets
as well as convertible notes to double its equity stake to 18 percent, has sparked concern in
Australia about China's ability to influence pricing of strategic commodities.
"They can revise and should revise the whole cocktail of it," said Mr. Paul Xiradis, CEO of Ausbil
Dexia, the ninth-largest shareholder in Rio Tinto. He said that reflecting shareholders' complaints,
the preferred route would be to have a capital raising that allowed all shareholders to take part,
and he would like to keep Rio's iron ore assets in Western Australia out of the deal. Five of the top
12 shareholders in Rio's Australian listed shares have kept their cards closely guarded on whether
they would vote for the deal in its current form, but some say it now looks inevitable it would be
revised.
The Sydney Morning Herald said on Thursday Chinalco would restructure the Rio deal to allay
Australian Government concerns. Citing sources close to Chinalco, the report from Beijing said the
Chinese firm is prepared to replace marketing provisions with a clear undertaking it will not play
any role in setting prices. Chinalco is also prepared to scrap a contractual claim to 30 percent of
Rio's iron ore production, but would not concede on its planned stakes in Rio assets or on its right to
two board seats, the paper said.
Source: Reuters.com
AUSTRALIA LIKELY TO DEMAND REVISIONS IN RIO-CHINALCO DEAL
Rio Tinto’s commitment to the planned USD19.5 billion tie-up with Chinese metals firm Chinalco,
and the latest endorsement of Chinalco, already Rio's largest shareholder, comes amid speculation
the Australian government could demand revisions, or kill the deal under foreign investment
guidelines because Chinalco is state-owned.
The Australian Financial Review has said Chinalco would consider changing the terms of the
convertible bonds, but was adamant the other major element of the tie-up -- USD12.3 billion in
direct investments in key Rio mining assets -- should remain as agreed in February. Citing no
sources, the business daily said Rio Tinto's director of strategy, Mr. Doug Ritchie, was believed to
have visited Chinalco officials last week to discuss investors' opposition to the deal and possibly to
revise the terms of the bond issue. Chinalco President Wang Wenfu was believed to be pragmatic
over the price of the notes, the newspaper added.
Read more.
In a report last week, investment bank UBS said BHP Billiton might offer to help underwrite a Rio
Tinto rights issue and propose an iron ore joint venture. A BHP spokesman declined to comment
even as BHP shares rose 3 percent.
Rio Tinto is also selling assets to pay down debt and it gave an update on the asset-sale program
last week, saying it would record a gain of USD900 million on the sale of undeveloped projects for
its first half-year to June 30.
Two major hurdles remain to the deal: Australian foreign investment approval and separate
approval from Rio shareholders. Australia's Foreign Investment Review Board was expected to seek
changes to the Chinalco deal, including limiting the size of its equity stake to 14.99 percent and
asking Chinalco to forgo one of two Rio board seats it is seeking. The FIRB is expected to make its
recommendations to Treasurer Wayne Swan by June 14. Swan has the final decision.
Source: Bloomberg.com, Reuters.com
7. ECONOMY
RUSSIA IN USD7 BILLION DEAL TO BUILD RAILROADS, DEVELOP MINERAL DEPOSITS
The Russian rail monopoly and two Mongolian partners agreed to set up a joint venture during Prime
Minister Vladimir Putin's visit to Mongolia on May 13. Russian Railways (RZD) pledged to modernize
and build railways in return for development licenses for Mongolia's largest deposits, the Tavan
Tolgoi coal deposit and the Oyu Tolgoi gold and copper field.
It has signed an accord with Erdenes MGL, the Mongolian state mining company, and MTZ, the
country's national railway company, to set up a joint venture to build railways to the mineral
deposits and develop the fields. The Russian company will hold a 50% stake in the USD7billion
venture, while the Mongolian partners will each hold 25%.
At the initial stage, they are to contribute USD1.8 million for a feasibility study, which is due to be
ready by September. The joint venture will receive development licenses for the deposits in 2010.
Erdenes MGL owns all strategic deposits in Mongolia, including the Oyu Tolgoi gold and copper
project, the Tavan Tolgoi coal deposit, and the Dornod uranium deposit.
Read more.
MTZ owns railroad assets, including a fiber-optic-based railway communication system, while
Mongolia's railroads proper are controlled by Ulaanbaatar Railway, parity owned by the
governments of Mongolia and Russia.
Tavan Tolgoi, located 342 miles from the Mongolian capital, is one of the world's 10 biggest coal
deposits (6.5 billion tons). Oyu Tolgoi (32 million tons of copper and 32 million oz of gold) is located
in the south Gobi region. The joint venture will not develop the deposits, but will hold tenders to
choose co-investors. It will form project operators with the winners, holding 25% plus one share in
them and leaving 75% minus one share to the selected co-investors.
In the past, RZD planned to recruit the assistance of Oleg Deripaska's En+ Group, Viktor Vekselberg's
Renova, and Alexei Mordashov's Severstal Resurs for these projects. En+ and Renova are ready for
cooperation, but the new agreement stipulates that the Russian-Mongolian joint venture is to hold
tenders. This means that the Russian miners will not receive any privileges and will have to
participate in the tenders on a par with Japanese, Chinese, American and other contenders.
Mongolia also hopes that Russia's contribution (USD250 million) could be used to increase the
charter capital of Ulaanbaatar Railway, half of whose railroads need to be overhauled. It also
expects Russia to provide an easy loan (USD300 million) for the purchase of Russian grain,
agricultural machinery and mineral fertilizer, and a USD1.5 billion loan facility for other purposes.
The partners also agreed to set up a joint venture to process uranium produced at the Dornod
deposit (49,000 tons, located in northeast Mongolia) and the East Gobi fields. The Russian partner
will be Rosatom, with Japan's Mitsui considering participation. The stakes to be held by the partners
and possible investment have so far not been determined.
Currently, Russia's largest projects in Mongolia are Erdenet and Mongoltsvetmet, joint non-ferrous
producers established during the Soviet era. Mongolia holds controlling stakes in them (51%) while
Russia's stakes (49%) have been recently turned over to the Russian Technology state corporation.
The corporation is considering adjusting the Erdenet project to the Udokan copper project in
Russia. Russian Technology's partner, Alisher Usmanov's Metalloinvest, has been recently granted
the development license for the Udokan project.
(The opinions expressed in this article are those of the author, economic commentator Oleg
Mityayev, and do not necessarily represent those of RIA Novosti.)
Source: rian.ru/analysis
RUSSIA TO PAY FOR LICENSES, MONGOLIA WILL INVEST IN THE MINING
The Russian Railways company chief, Mr. Vladimir Yakunin, has clarified that the accord between
his company and Erdenes MGL, the Mongolian state mining company, and MTZ, the country's
national railway company, Russian Railways will pay for the licenses to the coal and copper
deposits, while the Mongolian side will invest in the mining. He did not specify which deposits the
joint venture planned to develop but said it was going to improve access to Tavan Tolgoi, which is
thought to hold the world's largest untapped reserves of coal used in steelmaking. Mongolia has
hired JPMorgan and Deutsche Bank to sell up to 49 percent of the project. Potential buyers include
8. several Russian firms, China Shenhua, U.S. miner Peabody Energy, and BHP Billiton.
Mr. Bayar has said talks are still under way with potential investors in Tavan Tolgoi. Mr. Putin said
Russia was still hoping to participate in the Tolgoi development. "There's always a chance. We'll
see," he said. The field will require USD2.4 billion to develop, Erdenes says on its Web site.
Source: The Moscow Times
RUSSIA COULD BUILD LARGE PLANTS, USING MONGOLIAN COAL TO SELL POWER TO CHINA
Minister of Energy S.Shmatko has said Russia could build power plants in Mongolia to supply electric
power to China. "We are interested in a few projects. If there is a good dynamics, we build"," he
said. China wants to buy electricity, and it would be possible from Mongolia taking into account its
coal reserves, he added.
According to Mr. Shmatko, “the situation is conceptual so far”, and any decision will be taken after
preliminary studies of the feasibility of constructing large power plants in Mongolia and after
ascertaining the views of other Russian enterprises.
Source: Montsame
100,000 MONGOLIAN SHEEP FOR TUVA
Russia will buy 100,000 pedigree sheep from Mongolia to help the Republic of Tuva improve the
quality of its livestock. The animals will be sent to Tuva through the checkpoints of Tsagaan-Tolgoi
and Artsuuri.
"Active cooperation between Tuva and Mongolian has been developing in recent years," Mr. Sholban
Kara-ool, head of the Republic of Tuva, has said, referring to trade between Tuva and Mongolia
reaching USD7 million in 2008, double the amount in 2007.
Source: Mongolia-web.com
SURGE IN MNT SAVINGS
With the fall of the MNT halted, the rush among people and companies to save in a foreign currency
has been arrested. The latest financial reports show 65.5% of total savings is in MNT now. The trend
began in February and has been growing steadily since. Date revealed by the Central Bank say MNT
savings fell by MNT21.5 billion in January, but rose by MNT18.3 billion in February, and by MNT60.5
billion in March. Foreign currency deposits dropped by 2.8% in March and stood at MNT15.1 billion.
Source: Onoodor
GOVERNMENT SETS PRIVATIZATION GOALS UNTIL 2012
The Government has finalized its privatization goals between 2009-2012 and has identified for
partial disinvestment the following state owned companies: Baganuur, Shivee Ovoo, MIAT, Mongoliin
Tsahilgaan Kholboo, Mongol Shuudan, Darkhan Metallurgical Plant, Khotol Cement, Thermal Power
Plant Mo. 2, Mongolbolgargeo, Dalanzadgad Thermal Power Plant, and Autoimpex. The proposal has
now to be approved by Parliament.
Disinvestment will be through international auctions and, if necessary, additional shares in certain
companies will be sold in both international and domestic stock markets. The Government hopes
the energy sector will attract the interest of foreign and Mongolian investors so that the State is
relieved of an economic burden.
The main principles of privatization were reaffirmed to be the following:
- To decrease state participation in the economy and increase private sector involvement;
- To help set commodity prices, service charges and tariffs based on the open market
economic system;
- To introduce productive cooperation between the state and the private sector by using
international support and consultation.
Source: www.gogo.mn
PRESIDENT PROPOSES WITHDRAWAL OF DUTY ON CASHMERE EXPORT
President N.Enkhbayar, seeking reelection, has proposed cancellation of the duty on raw cashmere
export to help herders cope with the fall in prices. Income from sale of cashmere has been
9. considerably less than expectation in recent months, hitting herders hard. As a matter of fact,
66,000 herders still owe banks MNT81.9 billion. The Head of the President’s Office has submitted
the draft law calling for the cancellation to Parliament Speaker D.Demberel.
Source: Udriin sonin
MORE HERDERS TO JOIN INSURANCE PROGRAM
Herders in Sukhbaatar province will this year join the Livestock Indexed Insurance project that
started in 2005 and has so far covered Khentii, Bayankhongor and Uvs provinces. In these years 340
herders in Khentii province alone have received MNT248 million thanks to this insurance.
Project officials and experts from the National Statistics Office recently held a training on livestock
counting software for officials and deputy governors in Khentii province. This year’s livestock
census will take place from June 2 to 8, and herders who insured their livestock will get their
payments by June 10.
Source: Ardiin Erkh, Zuunii medee
AUSTRALIA TO OVERTAKE MONGOLIA IN SUPPLYING COAL TO CHINA
According to JBWere, Australia will this year replace Mongolia as China’s major supplier of coking
coal. China's coking coal imports have remained at some 6 million tons in the last five years, but in
2009 they may exceed 13 million tons. The report said 6 million of the newly increased 6.5 million
tons of coking coal is going to be imported from Australia. As safety standards have been pushed up
and also for geological reasons, China's small coal mines cannot meet the newly emerged demand in
China.
Source: Steelguru
UNEMPLOYMENT RISES 15% YOY
The number of unemployed people registered at the Social Welfare and Labor service offices in the
provinces and in the capital stood at 36,700 at the end of April, an increase of 4,769 or 14.9
percent compared with the same period of 2008.
Source: Montsame
AIR FREIGHT DROPS TO ALMOST HALF IN A YEAR
The first four months of 2009 recorded a fall in both freight and passenger traffic on Ulaanbaatar
Railway. Freight was 15.4% less than in the corresponding period last year, while the number of
passengers dropped by 29.7 per cent. Cargo carried by air fell by 47.2 per cent and the number of
passengers on flights by 31.8 per cent.
Source: Montsame
TAX REVENUE DROPS 35 PERCENT
The total budget deficit stood at MNT143.5 billion at the end of April. The current account deficit
was MNT74.8 billion. Tax revenue was 35.0 percent less than in the same period last year.
Collection from the windfall profits tax fell by 91.8 percent, from corporate income tax by 45.6
percent, and from value added tax by 18.5 percent. Non-tax revenue fell 4.4 percent, largely
because state-owned organizations contributed 24.6 percent less than in the first four months of
2008.
The total budgetary expenses and net lending showed a 3.6 percent drop, mainly because of a
decline in subsidies. GDP stood at MNT617.1 billion at 2005 constant prices. This was 4.2 percent
less than in the same period last year.
Source: Montsame
MONETARY POLICY FLAYED AS NOT BEING FELXIBLE
A recurrent complaint at a recent conference on “Government monetary policy – its effect on the
economy and business” was that the policy lacked the flexibility to be effective in changing
circumstances. One businessman even said the Government’s policy was to have no monetary
policy. MPs, businessmen, academics and representatives of the Central Bank attended the
10. conference. Many of them thought less Government control over business and industry would
improve and stabilize the economy. There was disappointment that even after declaring that 2009
would be the Year of Industrialization, the Government was not doing much to support
entrepreneurs. Many felt the present laws discourage competition and discriminate against smaller
companies and should be amended.
Source: www.news.mn
TRADE BALANCE SHOWS DEFICIT OF USD93.3 MILLION
The external trade balance at the end of April showed a deficit of USD93.3 million, USD 0.2 million
less than in the same period last year. Value of exports fell by 42.4 percent, largely because of a
drop in the international price of all major items like copper concentrate, zinc concentrate, and
gold. The lower deficit was the result of the value of total imports falling by 37.8 percent.
Source: Montsame
INDUSTRIAL OUTPUT FALLS 7.6% IN A YEAR
Total industrial output in the first four months of 2009 reached MNT472.4 billion, demonstrating a
decrease of 7.6 per cent (at 2005 constant prices) from the same period last year. Mining and
quarrying output fell 2.9 per cent in and manufacturing 21.5 per cent.
Source: Montsame
MONGOLIANS COMPANIES BUY 1,000 TRANSPORT WAGONS
Private Mongolian companies recently bought 1,000 transport wagons for USD7 million at a
ceremony attended by Minister of Road, Transport and Urban Development Kh. Battugla, Mr. B. I
Yakunin, Head of the Russian Railway organization, and other senior officials from both countries.
These wagons, used in Russia for 10 years and capable of carrying 64-69 tons of load, were offered
for sale according to a decision taken by the Mongolian and Russian intergovernmental commission.
They will now be leased to mining companies.
Source: Odriin sonin
MONGOLIAN COMPANY RESUMES FLOUR IMPORT AFTER A YEAR
PAVA, the largest Russian grain processor east of Urals, has shipped the first consignment of an
order from a wholesaler in Mongolia for 870 tons of high and first grade flour. PAVA first exported
flour to Mongolia in end-2007 and the beginning of 2008. After that Mongolia did not import any
flour for a year as a bumper crop in 2008 fully satisfied domestic flour needs.
Source: www.FLEX-NEWS-food.com
40% OF EXTRACTION LICENSES ARE FOR GOLD
The number of special mining licenses stands at 5,183, most of them in Tov, Dornogobi, Omnogobi,
Selenge, and Khentii provinces, whereas Orkhon and Gobisumber have the fewest. Over 40 percent
of the total 1,107 extraction licenses are for gold. Tov has 90 extraction licenses, the largest
number among all provinces, and 57.5 percent of them are for gold. Extraction and exploration
work covers about one third of the territory of Zaamar district in Selenge province, where, since
1992, about 50 tons of gold have been extracted.
Source: Montsame
MNT540 BILLION FROZEN IN CONSTRUCTION SECTOR
The Ministry of Road, Transportation, Construction, and Urban Development estimates that MNT540
billion is frozen in 171 incomplete buildings all over Mongolia. Intending buyers paid MNT174.1
billion to construction companies in advance, while banks lent MNT214.3 billion to construction
companies, and MNT68.7 billion to buyers. The construction sector has said it needs MNT215 billion
to complete work on the buildings.
Source: Onoodor
11. MOST CONSTRUCTION WORK DONE BY DOMESTIC COMPANIES
Construction and installation work valued at MNT25.3 billion was recorded in the first four months
of 2009. Of this the share of domestic entities was 90.9 per cent, and the other 9.1 per cent was
carried out by foreign entities.
Source: Montsame
CONFERENCE FAVORS LEGAL REGULATION OF ARTISANAL MINING
Ulaanbaatar hosted an international conference on the impact of mining on health and on
strengthening health system research earlier this week. Papers were presented on several aspects
of the themes and how challenges could be met. Apart from the 44,000 people employed in
organized mining, Mongolia has about 30,000 artisanal miners and there is no provision for their
health care, social insurance, and safe working environment. Participants at the conference
discussed the absence of any legal regulation in this huge unorganized sector and felt that the
social issues could be resolved once artisanal mining was brought under a legal umbrella.
Canadian delegates referred to their experience with artisanal miners and felt that Mongolia could
benefit from studying how the government there had brought all mining activities under the law,
allowing such miners to access the benefits of social and health insurance.
Source: Onoodor
WORKSHOP ON MINE SAFETY WANTS ILO CONVENTION RATIFIED
A recent workshop on safety and health in mining revealed that the number of both accidents and
deaths has been declining in Mongolia. In 2006, there were 44 deaths in 70 cases, in 2007, just 8
people died in 36 accidents, and last year 35 accidents resulted in 42 deaths. The total number of
deaths in mining mishaps between 1990-2008 stood at 154.
The main causes of accidents in underground mining were fire, landslide, dust explosion, flooding,
gas leaks, and deoxidation, while in open pit mining these were identified as mountain slips, dust
explosion, malfunctioning of electrical equipment, flooding, and careless handling of explosives.
Particupants felt that the number of accidents could be reduced by preparing and implementing
better regulations, and improving workers’ discipline and labor culture.
Considering that mining operations will keep on increasing and manual mining is unlikely to be
effectively controlled, it was felt that ratification of the ILO 176 Convention could help achieve
better safety in mining in Mongolia. The ILO has already offered to provide technical assistance in
framing more effective laws and regulations.
Source: Ministry of Social Welfare and Labor
SHAREHOLDERS CAUTION EBRD ON EXPANDED LENDING
The European Bank for Reconstruction and Development (EBRD) shareholders have decided to bring
forward a planned review of the development bank's available capital as some countries criticized
its lending practices for leaving eastern Europe and Central Asia exposed to the global financial
crisis. It also faced shareholder calls at the end of its two-day annual meeting last week to re-
examine its role in helping former communist countries make the transition to market economies
following the credit crunch that has savaged its 30 countries of operations, including Mongolia.
The lender's 63 shareholders will decide on whether to increase the bank's capital at next May's
annual meeting in Zagreb instead of 2011. Some members appear to favor an EBRD capital increase
while others said the lender could explore more efficient methods of utilizing its current capital of
20 billion euros. The EBRD, whose total investments stood at about 43 billion euros in March, has
said it would spend a record 7 euro billion in investments this year in sectors ranging from banking
to infrastructure to help the region cope with the deepening economic slowdown.
Major shareholders, such as the European Union, said the bank had to be mindful of financial risks
as it scaled up its lending activities. "On account of the EBRD's strong exposure to the private
sector, the high share of equity in its portfolio and the considerable country and sector
concentration in its activities, the recent unfortunate developments are certainly affecting the
bank's capacity to bear further risk," they said.
Read more…
12. Japan, another large EBRD contributor, said the lender had exposed the former Soviet bloc to
"excess risks" by helping to privatize banking sectors in these countries without ensuring the
development of domestic capital markets. "(The) introduction of markets or development of private
companies as market players alone cannot bring about long-lasting stable economic growth," it said.
This rare criticism from Japan came as some shareholders continued to question the EBRD's longer-
term mandate and remit.
Source: Reuters.com
FAMILY BUSINESS IN CANADA MAKES 48 TOWN HOMES FOR ULAANBAATAR
A family business in Canada, Pacific Homes, has been awarded a CAD4-million contract to supply 48
town homes for a new development in Ulaanbaatar. The major structural components, such as
floors, walls and ceilings, will be shipped in containers to the Mongolian capital for assembly.
"Mongolia is looking to start North American-style housing," says the company, which is creating
two-story fourplexes of 1,200 square feet, with two to three bedrooms. Everything from the
foundation up is being built with local wood and finishings. The contract will provide about two
months' work to about 10 people. "We will probably ship out a couple of units a week once we start
rolling," the company says.
British Columbia's Forestry Innovation Investment agency is promoting wood-frame housing in
Mongolia as a way to bolster international demand for the province's wood products. It was a
partner in building two wood-frame demonstration homes in Mongolia last year. The B.C. Institute
of Technology has also helped Mongolian officials rework their building code to Canadian standards
for wood-frame homes. Export Development Canada is assisting with financing through a Mongolian
bank as well.
Source: pacific-homes.com
POLITICS
MONGOLIA BRACES FOR PRESIDENTIAL POLL
Mongolia, one of the world's youngest democracies, goes to the polls Sunday to choose a new
president amid deep suspicions over whether the elections will be fair. The race is between
incumbent Nambaryn Enkhbayar of the former communist Mongolian People's Revolutionary Party
(MPRP) and Tsakhiagiin Elbegdorj, the ex-leader of the main opposition Democratic Party (DP).
The 50-year-old Enkhbayar pledged during an election rally in Ulaanbaatar to bring the nation
together. "I will unite Mongolians, and we will make this country great," said the president, also a
former prime minister. Mr. Elbegdorj, 46, is targeting an end to graft and inequality in the nation
of nearly three million people. "Shall we change? Corruption and poverty are both excessive.
Unemployment and unfairness have gained ground," he told crowds at a recent rally. The slight
favorite is Mr. Elbegdorj, once a celebrated leader of a peaceful revolution that ended 70 years of
communist rule. Twice prime minister, he was DP leader at the time of deadly riots in July 2008
after parliamentary elections and was blamed by some, including Prime Minister S. Bayar, for
instigating the riots by making vote-rigging allegations - a charge he has vehemently denied.
Read more…
Underlining lingering suspicions over Mongolia's politics, nearly two thirds of respondents questioned
said the election would be tainted by corruption, according to a poll on a popular Mongolian
website gogo.mn. Most Mongolians see little difference between the two candidates. This is partly
because their respective parties have entered into a coalition in Parliament and therefore pursue
similar policies on a day-to-day basis. Voter indifference is reflected in what could be the lowest-
ever turnout on Sunday. A survey of 9,000 people by Olloo, a Mongolian news website, showed that
only 56 percent planned to vote.
Source: www.asiaone.com.sg
RUSSIA WANTS TO RE-ASSERT OLD CONTROL, FEELS FOREIGN POLICY SPECIALIST
Ts.Sukhbaatar, a former Ambassador to Britain and now Secretary on foreign relations of the
13. Democratic Party, was not surprised to learn that the Mongolian Foreign Affairs Ministry did not
allow journalists to ask Prime Minister Putin about Russia’s apparent blocking of MCC assistance to
Ulaanbaatar Railway. He feels “it is clear Russia refuses to leave this traditional space to anybody
else and wants to retain its control”, and with both President Enkhbayar and Prime Minister Bayar
popularly perceived as pro-Russian, Mongolia is coming slowly under Russian influence once again.
With its economy getting powerful and its military capacity increasing, Russia has been behaving as
the superpower of old, and has made clear its intentions to resume its former position of influence
and supremacy in the region. This means it would control policy in countries close to it. Mongolia
has long and friendly relations with Russia and the Russian people, and Russia also has not forgotten
old ties. Mr. Sukhbaatar said while it was true that when the Mongolian economy had collapsed
after the fall of socialism, “we were put back on our feet with the help of primarily western
countries, not Russia”, it is equally true that “in the present financial crisis our only help has come
from China and Russia”.
Read more…
He found it natural that Russia “felt uneasy” when Western countries expressed their strong
interest to cooperate in the mining sector. It “did not fancy too much Western help for a country
right next to it, nor did it wish to lose access to our huge resources”. Mongolia “invited foreign
investors, but when they came they found they were not very welcome”. If foreign investors now
leave Mongolia “the vacuum will certainly be filled by Chinese and Russians”. Mr. Sukhbaatar feels
Russia’s main interest is uranium, not so much Oyu Tolgoi and Tavan Tolgoi. He wants “our leaders”
to remember that even as the Russian economy grows powerful, the level of technology in Russia is
not high, and this makes it “imperative to have Western investors in Mongolia, even if it means
giving them some special facilities”.
Source: Ardiin Erkh
PUTIN’S VISIT UNDERLINES AN ONGOING PROCESS OF RESUMING OLD TIES
Russian Prime Minister Vladimir Putin’s visit was to boost bilateral cooperation in various sectors
including economy and trade and to promote the two countries' traditional good-neighborly
partnership.
In the age of the Soviet Union, Mongolia had close ties with it in various fields including politics and
economy. Mongolian-Russian relations were suspended after the collapse of the Soviet Union in the
1990s and their bilateral trade volume witnessed a sharp drop of 80 percent. Mr. Putin's visit to
Mongolia in 2000, which rekindled the hope for Russia and Mongolia to resume and promote their
traditional ties, gave a strong push to their halted relations and marked the return of Russia's
cooperation with the neighbor. The visit of former Russian Prime Minister Mikhail Kasyanov in 2002
pushed further the bilateral ties. In 2003, the two countries established their good neighborly and
traditional partnership during the visit of then Prime Minister Enkhbayar. With frequent exchanges
of high level visits, the two countries have signed a series of cooperative agreements in recent
years, and Mr. Putin's visit expectedly projected a broader prospect for economic and trade
exchanges between the two countries.
Source: Xinhua
MONGOLIA: THE KREMLIN TAKES AIM
Russian Prime Minister Vladimir Putin's recent visit to Mongolia indicates that the Kremlin is making
a push to restore bilateral relations to a level not seen since the Soviet era. But reality says that it
may not be possible for the Russian leader to get what he seeks. Mr. Putin's visit on May 13 aimed to
cement a new Russian-Mongolian special relationship in place. For the Russian state, the payoff was
something much larger: a Mongolian promise of close cooperation in developing uranium deposits.
Russia is now trying to gain primacy in access to deposits in Mongolia so that it can utilize the
uranium mined there for the development of its own nuclear industry.
Mr. Putin also sought to get Mongolia to agree to a plan under which the two states would settle
trade accounts in their respective national currencies. This would have the net effect of creating
additional demand for the Russian currency, and thus help prop up its value on international
currency markets. Ironically, Russian businesses have complained about a lack of protection for
their investments, alleging that Mongolia has arbitrary taxation policies and a constantly changing
14. regulatory framework.
While Mongolia is certainly interested in Russian investment, officials in Ulaanbaatar know that
competition will keep prices at their highest. So, expect Ulaanbaatar to do its best to keep ties
strong with other neighboring states, including China and Kazakhstan. Of course, China's economic
influence in Mongolia is still far larger than that of Russia. It may well be that officials in
Ulaanbaatar want to expand economic ties with Moscow in part because they wish to balance
China's already strong economic presence. In this sense, Mongolia may end up serving a traditional
role -- acting as a proving ground, where the strengths and/or weaknesses of Russia's relationship
with China are put to the test.
Source: EurasiaNet
For the full story please visit Eurasia Insight: MONGOLIA: THE KREMLIN TAKES AIM AT MONGOLIA'S
URANIUM RESERVES, 5/18/09.
CAN GOVERNMENT REJECT A PROPOSAL APPROVED BY PARLIAMENT?
Some MPs were asked about an apparent anomaly in the way the Millennium Challenge Corporation
grant for the railway was rejected. The head of the Russian Railways has said he refused to take the
money because he does not like free things. But can the Government cancel an agreement
approved by Parliament?
D.Enkhbat (Green Party): The way the grant was rejected, the way an auditory inspection was
stopped, clearly indicates that Mongolian foreign policy is changing. And all this after years of
discussion on the grant and the projects it will be spent on, followed by Parliamentary approval,
and then the Presidents of the two countries signing the agreement. As 50 percent owner of the
Railway, Mongolia certainly has the right on its own to order the audit to proceed since every
organization in Mongolia has to be audited under the tax law or company laws. The Russian side
fears US investment in Ulaanbaatar Railway which has a special geopolitical importance, but we
must understand one thing. We no longer live in a world that has only Mongolia, Russia and China.
Su.Batbold (MPRP): Parliament will likely discuss the whole thing. Personally I’m confused. The
people who were involved in the matter say nothing definite to my questions. The issue certainly
should be clarified.
D.Gankhuyag (DP): Any organization or company operating in Mongolia must follow the laws of
Mongolia and the audit should be held. The Government should also have talked with the Russian
side when it decided to use the grant on the project.
Source: en.News.mn
NOT ALL STUDENTS MAY BE ABLE TO VOTE
Some 10% of the total electorate in the presidential election are students and a decision of the
General Election Committee makes it likely that many of them may not be able to cast their vote
on May 24. This is because a sizable percentage of the 161,000 students in 145 universities and
institutes throughout the country live away from home and have been told, for the first time this
year and quite late, that they must get a certificate from where they are registered before they
can vote where they now are. Only their parents can apply for the certificate and only they can
receive it to forward it to the student concerned. Such paper work usually takes time. With only a
few days left there is not sufficient time for them to send their ID cards back and get the
certificates from distant provinces.
Students in Ulaanbaatar demonstrated against the curtailment of their rights. Many said they were
paid MNT5,000 each to disperse. Asked why the GEC could not issue voter mandates based on
temporary residence certificates, its head, Mr. N.Luvsanjav, said many students do not have these
certificates in proper order and also because there is no provision for this in the election law.
Incidentally, prisoners also have been told that if they wish to vote they would have to obtain a
certificate explaining why they are not at home.
Observers from Japan, the United States, and Russia have confirmed their presence during the
election.
Source: en.News.mn, Montsame
15. STANDING COMMITTEES FAIL TO MEET, SO DOES PARLIAMENT
With MPs from both parties busy campaigning for their candidate, attendance has been low at
several recent meetings of Standing Committees of Parliament, often leading to their cancellation.
For the last few weeks, Parliament has not met on Fridays as the Standing Committees had not met
to prepare the agenda.
This has meant that there has been no discussion on draft changes to the real estate mortgage law,
the bond law, the insurance law, the agriculture law, and the health law or on Government policy
on herders. There has also been no information on the USD300 million loan from China, on
increased Government participation in financial markets, on extending the loan period of herders
and on the status of road and construction work in progress. Even the Prime Minister’s presentation
on the financial crisis has been interrupted.
Source: Ardiin Erkh
PRESIDENTIAL CANDIDATES DEBATE ON TV
A debate on Thursday evening between President N.Enkhbayar and Mr. Ts.Elbegdorj, respectively
the MPRP and DP candidate at the presidential election on Sunday, was almost the last act of their
long nationwide campaign. It was aired live via national radio and television.
The two contenders for the nation’s highest office talked on the promised Homeland Bounty, the
higher education scene, exploration of strategic deposits, and the judicial system of Mongolia.
Source: Undesnii Shudaan
MINISTER ZORIGT HOLDS MEETINGS IN USA
During his visit to the USA last week, Minister of Mineral Resources and Energy D. Zorigt attended
the annual meeting at the World Bank of the Board of Extractive Industries Transparency Initiative,
of which he is a member. He also had meetings with senior officials responsible for Mongolia at the
Bank and at the International Finance Corporation. The discussions centered on possible
participation of these institutions in Mongolia’s mining and energy sectors and provision of
consultancy services.
Mr. Zorigt held a meeting with U.S. Secretary of Commerce Gary Locke, where they both expressed
their desire to cooperate in energy, particularly in renewable energy and clean processing of
minerals, as well as in other sectors of the economy such as mining and tourism. The Minister also
held meetings at the U.S. Department of Energy and with some larger U.S. corporations and non-
profit organizations currently working in Mongolia.
Source: www.mongolianembassy.us
FIRST MONGOLIAN GATES SCHOLAR NAMED
Ms. Jargal Jamsranjav has become the first Gates scholar from Mongolia, which will see her going to
Cambridge University in the autumn to do a PhD on the relationship between society and natural
resources, focusing on the conflict between nomadic herders in Mongolia and wildlife. She is one of
the 90 students from 32 countries to be chosen for the scholarship from a field of over 6,700
applicants.
Ms. Jamsranjav graduated as a biologist and worked on conservation programs in Mongolia before
going to Cambridge as a Chevening scholar in 2002 to study biodiversity. On her return to Mongolia
she took charge of the Zoological Society’s Steppe Forward Program which trains Mongolians in
ecological research. She has also been co-managing a team developing a biodiversity conservation
strategy in the Altai Mountains. She also has a gold medal in Mongolian traditional dancing.
The Gates Cambridge Trust was established in October 2000 with a donation to the University of
Cambridge of USD210 million by the Bill & Melinda Gates Foundation of the USA. This benefaction
creates in perpetuity an international scholarship program to enable outstanding graduate students
from outside Britain to study at the university.
Source: Montsame
16. 1,800 CHILDREN TOO POOR TO GO TO SCHOOL
While 530,000 students attend secondary schools in Mongolia, a recent survey has found that there
are 5,260 other children who do not go to school. Of them, 460 are in Ulaanbaatar and 4,800 in the
provinces. The survey reveals that 1,800 of them cannot go to school because of poverty, 730 do
not wish to study, and 431 need to work. Among the rest, 1,170 children could not give any definite
reason why they have dropped out.
Another survey has found that the number of disabled children has increased to 41,000 from 34,000
three years ago. The number of children congenitally disabled is also increasing. Air pollution,
inadequate nutrition during pregnancy and the mother’s lifestyle are mainly blamed for birth
defects.
Source: en.News.mn
PROGRAM TO SPREAD KNOWLEDGE OF ENGLISH BEGINS
The first phase of the national program of English education approved by the Government in July
2008 has begun. The program, to run until 2020, seeks to improve knowledge of English among
Mongolians. New methodologies to teach the language will be developed and implemented, a
variety of training material designed, and trainings organized for teachers.
A first phase aims at improving comprehension and speaking abilities among students and will
gradually include 50 teachers and 600 students of 33 secondary schools, nine language schools and
eight universities. It will also provide manuals, primers and training material to 50 language clubs
when they are formed, and organize workshops, establish a central library as well as create a Web
site.
This particular project will continue up to November. Contests will be organized among the 50
clubs. The Asia Foundation will donate 100 books to the library of each club under its Books for Asia
program. This program has donated more than 700,000 books to Mongolia since 1993.
Source: www.news.mn
CRIMES RISE
The number of recorded crimes all over the nation in the first four months of the year reached
7,246, an increase of 6.3 percent over the corresponding period of 2008. The crimes include
assaults, theft, robbery, fraud, forgery as well as crimes against environmental protection.
Source: Montsame
NEW MONGOLIAN LAWS
The following amendments to current Mongolian laws were published in recent weekly Government
Bulletins. Unless decided otherwise by Parliament, the amended law takes effect ten (10) days
after publication.
Date Laws
05.11.2009 Amendments to "Law on Civil Service"
Amendments to "Law on rehabilitation of political repression and compensation"
05.18.2009 Amendments to "Law on Construction"
Amendments to "Law on Forest"
Please visit BCM’s website, Legislative Committee, for a summary of new Mongolian laws.
BCM members who wish complete versions of the laws in Mongolian language are welcome to call or
email the BCM office (11-332-345; info@bcmmongolia.org) to arrange for a convenient pickup.
17. ANNOUNCEMENT
BCM is pleased to announce that Mongolian National Broadcasting continues its cooperation with
BCM on “MM Today”. This English news program is aired every Friday for 10 minutes and is
scheduled for 9:45 PM tonight. Tune in to watch this program that reports stories from today’s BCM
NewsWire.
SPONSORS
ECONOMIC INDICATORS
MSE WEEKLY REVIEW
For the week ended May 15, 2009, trading activity on the Mongolian Stock Exchange (MSE) totaled
570,500 shares with 31 companies traded. Total market value of transactions was MNT 393.0
million. Total market capitalization of the 358 stock companies listed on the MSE was MNT 436.2
billion, and decreased by MNT 6.6 billion or 1.5% from the previous week.
The Top-20 Index decreased by 102.47 points or 2.1% compared to the previous week, closing at
4,760.40 points. The MSE Composite Index decreased by 36.30 points or 1.5% compared to the
previous week, closing at 2,375.16 points.
Most active stocks traded were: Tuul Songino Usnii Nuuts (408,000 shares), Khuh Gan (55,800
shares), Naco Tulsh (54,700 shares), Genco Tur Buro (23,400), and Altai (7,700 shares).
Major share price percentage gainers were: Khurd (14.9%), Undurkhaan (14.4%), and Talkh Chicker
(8.7%). Major share price percentage losers were: Buunii Khudaldaa (14.9%), Genco Tur Buro
(11.8%), Buligaar (9.7%), Mon Tsakh Kholboo (7.7%), and Auto Impex (7.7%).
18. INFLATION
Year 2006 6.0% [source: National Statistical Office of Mongolia (NSOM)]
Year 2007 *15.1% [source: NSOM]
Year 2008 *22.1% [source: NSOM]
April 30, 2009 *12.5% [source: NSOM]
* year over year (yoy)
CURRENCY RATES – May 21, 2009
Currency name Currency Rate
US dollars USD 1422.41
Euro EUR 1939.24
Japanese yen JPY 14.82
British pound GBP 2205.16
Hong Kong dollar HKD 183.48
Chinese yuan CNY 208.41
Russian ruble RUB 44.84
South Korean won KRW 1.14
Disclaimer: Except for reporting on BCM’s activities, all information in the BCM NewsWire is
selected from various news sources. Opinions are those of the respective news sources.