Mongolia Business and Mongolian Daily Business News

The Cabinet Meeting was held yesterday and resolved the following issue:

This year Mongolia is planned use 280 thousand hectare land for plantation, 264.8 thousand hectare land for wheat, 12.5 thousand hectare for potato, 7.5 thousand hectare for vegetable and 10 thousand hectare for animal feed. For this plantation, 4 thousand tons of petrol is required. Read the rest of this entry »

According to the inquiry made by MPs, elected from Khuvsgul aimag, the Ministry of Mineral Resources and Energy prepared the list of mining and exploration licenses in the territory of Khuvsgul aimag. As of December 23 2009, 103 licenses in total were issued. But MPs wrote an official letter to the Minister for Mineral Resources and Energy, after the recently published interview of relevant official of MRA on the daily newspaper “Undesny Shuudan” (National Post), said that this number was increased up to 116.   Read the rest of this entry »

The Government made resolution ingmoring the State Great Khural

Yesterday, MP G.Bayarsaihan and Ts.Sedvaanchig, members of “Green Group” at the State Great Khural made press conference. They said that the resolution No 86 of the Government, issued on April 1 2009, allowing exploration work on 26 areas in order to determine their reserve. This resolution to take these areas to the reserve, stated that “… according to the Article 9.1.7,13.1, 13.2 of the Mineral Law of Mongolia, organise selection procedure, under tender bidding according to the Article 19.12 of the Mineral Law of Mongolia, in order to determine potential of the certain areas …”. But area of 4 out of these 26 licenses were included in the State Special Protection and it was revealed by Green Group. There is no legal provision or statement that exploration work can be made in the area of National Park. If such necessity is required, the State Great Khural should discuss the issue. Read the rest of this entry »

OT draft agreement, initiated by the Government of Mongolia, was not discussed since the irregular session of the State Great Khural closed.

MPRP group prepared its conclusion during the irregular session, but Democratic Party group recently concluded its comments on the agreement. Today, the Standing Committee on Economy will discuss their conclusions and comments. After a working group led by MP G.Zandanshatar made comments and conclusions, the Standing Committee on Economy will continue it discussion on OT draft agreement.

Daily Stock news: 920.9 thousand shares were sold
920.9 thousand shares of 13 JSCs were sold at MSE totalling 245.9 million MNT trade. 827.0 thousand Mongol Em impex 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 Mongol Em impex was decreased by 12.21%, shares which prices were increased are Darkhan Transport (by 15.0%), Mongol Makh Expo (by 14.67%) Tavan Tolgoi (by 11.67%) but share prices of Khukh gan and Genco tour bureau JSCs were unchanged at MSE. Index top – 20 reached 4957.33 units and was increased by 30.97 units if compared to the previous trading session.

HUESCA .- It is the fact that this interpreter was already ranked second in the last edition of the competition. En la prueba final interpretó composiciones de Brahms y Stravinsky. In the final test performed compositions of Brahms and Stravinsky.

Hirayama Asami Japan was second and carried six hundred thousand euros, plus the ability to interpret a recital this season at the Conservatorio Profesional de Música de Huesca. Anastasia Starkova, young Russian only eighteen, was ranked in third place, which gets a prize of euros after a final eight in which he interpreted compositions by Beethoven, Mendelssohn, Chopin, Liszt and Gounod. Read the rest of this entry »

This is very amateur explanation. Once this law not in English, I had to find the Mongolian law and translate it into English. Will come back with more information.

Chapter II

Article 8 Majority and minority at the State Great Khural

8.1. Party, coalition or group with 39 or more seats at the State Great Khural is majority.

8.2. Party, coalition or group with 38 or less seats at the State Great Khural is minority  Read the rest of this entry »

Non regular meeting of State Great Khural is being held right now and they are discussing about the grant aid of the Millennium Challenge Corporation. 188.3 million USD worth Railway project is due to stop as Russia believes 188.3 million USD grant aid is ineffectual to implement the project. This is due as Mongolia partially owns the 50% of the Railway in Mongolia. This matter is being discussed during this non regular meeting.

Meeting of representatives from the Ministry of Education, Culture and Science and Members of the Trade Union were held at the House of Trade Union Association. It had been reported that Minister for Education, Culture and Science spoken about cutting the wages of Science Department workers by 3% few days ago. During this meeting, representatives informed that there will be no wage reduction for the teachers in this sector.

They have officially informed this information to the Trade Unions and distinguished that they will build a team of workers to provide gratuity and bonuses for the teachers working outside the capital city which is reported to be unequal from the workers in the capital. Read the rest of this entry »

819.9 thousand shares of 16 JSCs were sold at MSE totalling 210.2 million MNT trade. 97 Remicon shares were sold at the primary market. 680.2 thousand Mongol em impex shares 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 Makh impex was increased by 4.68%, share price of Mongol em impex was decreased by 14.94%, share price of Tavan Tolgoi by 14.29% but share prices of Genco tour bureau and Makh Impex shares were unchanged at MSE. Index top 20 reached 4926.36 units and was decreased by 88.47 units if compared to the previous trading session.