Daily Business News Mongolia

Slight increase in Anod Bank share

Yesterday, 189.8 thousand shares of 10 SHCs were traded at MSE, totaling trade of 28.4 million MNT.
At the primary market, 110.1 thousand Remicon shares and 4.2 thousand Monfresh shares were sold. At the secondary market, 56.5 thousand Khukh Gan share were sold, making it as the most actively traded share of this day. In comparison with the previous day’s trade, Anod Bank share was increased by 10.2% and Mongolia Telecom by 2.94% respectively. But Khukh Gan share was decreased by 6.54% and Genco Tour Bureau share by 4.76% respectively.

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Prime Minister S.Bayar: Government will show financial support to commercial banks

Q: How the Democratic Party Group evaluated the Action Plan of the Government?

S.Bayar: Basically, MPs of DemParty ask about to bring more down to earth action plan. The world economy crisis cut down our election promises. So we should discuss about what the Government can provide and what can’t. Moreover, they demanded more clear policy for the people of Mongolia. Social welfare policy was set forth primarily, therefore, DemParty MPs commented that it can be realistic when the policy on industrialization is real. (more…)

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Copper Prices Surge in New York on Demand for Inflation Hedge

By Millie Munshi

Nov. 4 (Bloomberg) — Copper prices jumped 6.4 percent, rising for a second day, as a weaker dollar and higher energy prices renewed demand for commodities as a hedge against inflation.

The dollar fell the most against the euro since the 15- nation currency’s debut in 1999 and crude oil rebounded from a one-week low, gaining as much as 12.3 percent. Copper rallied 8.4 percent last week, the biggest advance since May 2006. The Standard & Poor’s GSCI Index of 24 commodities was up as much as 9.3 percent today, the biggest gain since at least 1970. (more…)

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Bank minimum reserve was set at high level in order to save banks from bankruptcy

Economists said that the world economy crisis would affect the Mongolian economy in minor extent. But this crisis knocks the door of our economy through the stock price fall at the Mongolian Stock Exchange. Mongol Bank informed that commercial banks’ saving hadn’t decreased. Banks’ minimum reserve is increased since 1998 and it reached 8 billion MNT in April 2006. (more…)

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Gandi Tugsjargal, the Cabinet Minister and the Minister for Labor and Social Welfare

Mongolian People’s Revolutionary Party
Born in 1961, in Ulaanbaatar, Mongolia.
Educational record:
1978 Secondary School #3
1978-1982 Faculty of Journalism, the National University of Mongolia
1986-1988 University of Economy, the National University of Mongolia (more…)

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