A Happy New Year dear readers,
May the next year will be flourishing one and your capital, collected in a year of mouse will be enriched and be fertile and feasible like a year of cow.
Thank you again for paying attention to our petty website and checking it regularly. The year 2009 will surely be flourishing year for Mongolia with realization of many mining deposits, exploring more potential mining projects.
Editorial team,
12.9 thousand shares were sold at MSE totalling 4.1 million MNT trade. 8.7 thousand shares of APU was sold and it was the most actively traded share at the stock market. Share price of APU was increased by 8.59%, share price of Genko tour bureau and share price of Khukh gan by 5.26% respectively. Share price of Auto impex and Talkh chikher were unchanged. Index top – 20 was 5583.22 and was increased by 72.21 units if compared to yesterday. The total market value is now 515.87 billion MNT after a slight increase on the last day of trade in 2008.
9.3 thousand shares of 9 SHCs were sold at MSE totaling 1.5 million MNT. 4.8 thousand shares of Genko tour bureau were sold and it was the most actively traded share at the stock market. In comparison to the previous day’s trade, share price of Genko tour bureau was increased by 1.33%, share price of Gobi was decreased by 6.0% and share price of Khukh gan by 5.0% but share price of Sav shim was unchanged. The index top - 20 was 5511.01 and was decreased by 23.38 units if compared to the previous day’s trade.
Q: How can we get through the world economy recession?
MP: O.Chuluunbat: The situation is changed so much since the last election. Even the situation is changed since the budget discussion. We are facing the situation of to be or not to be in this time of crisis. Therefore, budget modification must be made and investments must be suspended. Also budget debt must be lowered. In last 3-4 months combanks limited their loans and even some of them stopped it. It is obvious that how this crisis affects our economy. Also the train transportation circulation has fallen by 30-40%. Import size is shrunk, leading less income for companies and less tax income to the state. The market has deficit of money and situation is critical for many people’s life. (more…)
MP Kh.Narankhuu: First all cut all types of expenses. We don’t pay attention on the necessary savings. At least, in Mongolia which has long cold season, we should save our heating. USA adopted its plan to fight with crisis. It included some interesting points such as to find new source of energy and encourage energy savings. It shows tax reward to citizens who use bicycle instead of car. People should be into the saving mode in Mongolia. For example, 40-50% of heating is lost through window. But we are not talking about how to save heating instead of increasing our budget for heating.
Ceremony of ‘Entrepreneur 2008’ has been announcing best entrepreneurs for 12 years running. This year the National Chamber of Commerce and Industry has given the ‘Best Entrepreneur’ award to Golomt bank, leader of the banking industry for their excellent service for customers and investors. Golomt bank is also well known for its good reputation - working under the law, following the policies given by the Bank of Mongolia and improved efficiency of their enthusiastic workers and staff. (more…)
7.2 thousand shares of 10 SHCs were traded at MSE totaling 2.2 million MNT trade. 2.5 thousand shares of Genko tour bureau were traded and it was the most actively traded share at the stock market. In comparison to the previous day’s trade, share price of Genko tour bureau was decreased by 8.54%, share price of NIK by 6.15% and share price of Makh impex by 3.81% but share price of Mongolia telecom and Mongol leather were unchanged. Index top – 20 was 5534.39 and was decreased by 39.68 units if compared to last Friday’s trade.
Ulaanbatar Railway is not that busy as it was used to be. According to the National Statistics Office data, total load of Mongolian railway has decreased by 9.4% if compares with the previous year.
Also its transit transportation size decreased by 32.6% or 1047.5 thousand tons from the previous year. Sources say that an especially transportation load is dropped enormously in recent days. It was because of decreased import size due to the fall in retail business. It is the signal of the world economy recession is reaching every single corner of our economy.
New Year’s shopping season will be the worst since early 1990s merchants say. Because consumers don’t like to buy lump sum of food or new garments and clothing for themselves. Especially car business is in crisis. Its sales dropped sharply by 90%. It was because of loan from combanks has stopped and people’s tendency of saving their income. Moreover, so many cars in container are kept at customs stock. Merchants cannot pay their customs tax and people don’t like to buy new and used cars. If it will continue this way, there will be big collapse in the Mongolian used and new car sales market. (more…)
Mongolia will be able to ship goods tax-free to European Union countries through 2012 based upon its renewing its involvement in the European Union’s (EU) GSP+ trade scheme. Mongolia recently renewed its participation in the program, slated to end in 2010.
Mongolian businesses have saved $821,000 due to the tax-free imports during the period of 2006-2008. The primary objective of the GSP is to contribute to the promotion of sustainable development and oversee product manufacturing standards, particularly in developing countries.
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