Daily Business News Mongolia

Zorigt Dashdorj, Cabinet Member and the Minister for Mineral Resource and Energy

Dashdorjiin Zorigt (MPRP) — Minerals and Energy;

Mongolian People’s Revolutionary Party

1971 Born in Ulaanbaatar

Educational record:
1988-1994 Moscow University of International Studies.
1996-1998 University of Australia
2002-2003 Kyushu University, Japan

Specialized in political science and Chinese study
Master in Law and International Relations

Language: Mongolian, Russian and English (more…)

Posted in Government, Mining, News, Politics, Resume | No Comments »

Lambaa Sambuu, Cabinet Minister and the Minister for Health

Democratic Party

Born in 1950, Undur-Ulaan soum, Arkhangai aimag

Educational record:
1968 Secondary School of Tsetserleg City, Arkhangai aimag.
1976 National University of Mongolia

Engineer and economist
Ph.D in economics, professor.

Language: Mongolian and Russian (more…)

Posted in Government, News, Politics, Resume, Science | 2 Comments »

MP Kh.Narankhuu: If this measure is not taken, the outcome will be much worse.

Placing 220 billion MNT of Mongolia Development Fund at commercial banks is under strong criticism. About 61.9% of total voters of “Unuudur” daily newspaper readers said it was wrong decision. Let’s find out what is the position of lawmakers in this regard. They answered to the following two questions and are:

1. Do you support the operation of placing some fund of Mongolia Development Fund at commercial banks?

2. How to protect from the risk that may arise? (more…)

Posted in Economy, Finance, Government, Interview, Laws, News, Politics | No Comments »

Establishment of direct flight between Ulaanbaatar and London

Mr. S.Batmunkh, chairman of the CCA and Mr. B.Erdenebileg, executive director of MIAT have visited Great Britain. The objective of this visit was to discuss about establishing direct flight between Ulaanbaatar and London. They had a meeting with Mr. Roy McNaulty, chairman of Great Britain’s CCA and Mr. Simon Knight, director of the department of the Ministry of Transportation and initiated the talks about the direct flight. Both sides have supported this idea and have signed on the necessary legal documents, stating the first flight will start from July 1st 2009. (more…)

Posted in News | 1 Comment »

Anod Bank gives housing loan

Mongol Shuudan Bank and Zoos Bank totally shut their all types of loan. But Capital, Savings, Khaan, Xac and Capitron Banks are providing business, salary, pension, secured by savings deposit and leasing loans. These banks are not providing housing loan. Xac Bank temporarily stopped its housing loan until the next year. It is still unclear for other banks when to start giving loan. People who bought Trade and Development Bank accredited construction companies can get housing loan. Mongol Bank reduced its interest rate and it gives good standing position for the commercial banks. (more…)

Posted in Business, Economy, Finance, News, Real Estate | 1 Comment »

996.8 thousand shares were sold at the Mongolian Stock exchange

96.8 thousand shares of 17 SHC were sold at the MSE totaling 51.8 million MNT trade. 15.6 thousand Remicon shares were sold at the primary market. 32.1 thousand shares of Hermes center was sold and it was the most actively traded share at the stock market. In comparison to the previous day’s trade, share price of Suu (dairy product) was increased by 11.11% and share price of Bayangol hotel by 7.89% but share price of Tavan Tolgoi was decreased by 7.12% and Genko tour bureau by 5.56%.

Posted in Finance, News | No Comments »

Kh.Badamsuren: We don’t have right to lose time

The working group of the State Great Khural on drafting amendment in the Mineral Law of Mongolia has 13 members. The working group consists of 7 members from MPRP, 5 from Democratic Party and 1 from Civil Will Party (MP S.Oyun). MP Kh.Badamsuren, the head of the working group, has his word on the current issue.

Q: You are about to propose your proposal and conclusion to the Standing Committee on Economy. Can it be understood that this work is about to finish?
MP Kh.Badamsuren: I think members of the working group approached this issue with fundamental principles and from many aspects. The alternative to unlock the procedure of strategic deposits and investment agreement was proposed to the parliamentary party groups. The proposal of the working group was principally supported. The copper price has fallen by 2 times since the talks of draft Mineral Law started. Therefore, we don’t have right to lose time. We’d better not to lose time by saying need to discuss seriously. (more…)

Posted in Companies, Economy, Government, Interview, Laws, Mining, News, Politics | 1 Comment »

The Russian PM visits Mongolia

Mr. V.Putin, the PM of Russia will visit Mongolia once again to celebrate the 30th anniversary of Mongolian largest factory-Erdenet. Representatives of Erdenet factory have visited Russia to discuss about this matter and have invited the Russian PM as he holds the 49% share of the largest copper commodity producer in Mongolia. The Russian PM has mentioned that his only purpose of visiting Mongolia is to attend the ceremony of this epic anniversary.

Posted in Business, Mining | No Comments »

Mongolian Stock Exchange news – 25th November

104.1 thousand shares of 18 SCH were traded on the 25th of November totaling 26.9 million MNT trade. 24.5 thousand Remicon shares were sold at the primary market. 23.2 thousand shares of Khukh gan was sold and it was the most actively traded share at the stock market. In comparison to the previous day’s trade, share price of APU was increased by 6.25% and Genko tour bureau by 1.12% but share price of Tavan Tolgoi was decreased by 15% and share price of Anod bank by 11.43% respectively.

Posted in Finance, News | No Comments »

All saving deposit is secured by the State.

Prime Minister S.Bayar, Minister for Finance S.Bayartsogt and President of Mongol Bank A.Batsukh said it during the press conference at the Government House yesterday. The Prime Minister said about that the Government initiated a draft law on “Securing the saving deposit at commercial banks” and proposed it to the parliament. (more…)

Posted in Economy, Finance, Government, News, Politics | No Comments »