Financial Regulatory Committee (FRC) has suspended the trading of Erdenet carpet stock at the MSE. This was based on the official notice No168 of the state inspector. FRC has also suspended the trading of Tavan Tolgoi share at the MSE, based on the official notice No 166 of the state inspector.
29 thousand shares of 11 SHCs were sold at the primary market totaling 6.1 million MNT trade. 13.6 thousand Remicon shares and 230 Monfresh were sold at the primary market. 8.7 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 Tulga was increased by 1.75% but share price of APU was increased by 4.52% and share price of Haco fuel by 6.98%.
131.6 thousand shares of 15 SHCs were sold at the MSE totaling 1308 million MNT trade. 23.8 thousand Remicon share were sold at the primary market. 81.8 thousand shares of Hermes center 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 Undur khaan was increased by 6.38% but share price of Mongeo was decreased by 14.87% and share price of Tulga by 15.0% respectively.
153.6 thousand shares of 19 SHCs were sold at the MSE totaling 16.9 million MNT trade. 16.1 thousand Remicon shares were sold at the primary market. 90 thousand shares of Hermes center 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 Gazar shuljmel was increased by 14.97% and share price of Arvijikh by 14.57, but share price of Ulaanbaatar khivs (carpet) was decreased by 15.0% and share price of Darkhan teever (transport) by 12.0%.
147.7 thousand shares of 16 SHC were traded at the MSE totaling 29.6 million MNT trade. 22.4 thousand Remicon shares and 380 Monfresh shares were traded at the primary market. 88.2 thousand shares of Hermes center was traded and it was the most actively traded share at the stock market. In comparison to the previous day’s trade, share price of Mongol shir was increased by 12.78% and Anod bank by 6.06% but share price of APU was decreased by 5.05% and share price of Olloo by 12.28%.
Q: The State Budget has loss of 6.1%of GDP. What was the main factor of such loss in the budget?
MP Ch.Khurelbaatar: This budget was approved in quite decisive period of crisis and newly established parliament. It can be said that this crisis situation affected the budget. Also some measures were inserted in the budget in relationship with the crisis. Therefore, the total budget loss is 395 billion MNT or 6.1% of total GDP. But the state budget current balance has profit of 300 billion MNT. The current balance is the index of the state has savings for its creation from the income. Therefore, current balance of 300 billion MNT says that major part of its budget loss is because of the investment and creation. (more…)
MPs have their voice on the approved budget
Q: Economists criticize the budget. Approval of budget was because of the world financial crisis or did the Ministry of Finance work badly?
A: The draft law on budget was presented without consideration of financial crisis and copper commodity price fall. World financial crisis hasn’t had so much effect on Mongolia, but it severely affects the foreign direct investment in Mongolia. If the copper commodity price remains stable, Mongolia Development Fund would provide almost 40% of the Mongolian State budget. Today’s situation suggests us to adjust the budget prediction down to the earth. The expense decreased by only 50 billion MNT. (more…)
MPs have their voice on the approved budget
Q: How do you evaluate the approved budget?
A: The Ministry of Finance brought good budget without any losses. During the discussion period in October and November, many people talked bout to harness inflation under 1 digit number, to pursue budget shrinking policy and to take strict policy on budget saving etc. But at the end, MPs decided to accept the budget with certain loss and to pay attention on recovering it. Now we need to explore much more possibilities to decrease budget expense. World financial crisis is affecting, but Mongolia has a chance to make benefit from it. It is difficult to shrink budget in greater extent. (more…)
During the week of November 24-28 2008, 1.1 million shares of 30 SHC were sold at the MSE totaling 236.9 million MNT. In the primary market, 565.8 thousand Remicon shares were sold totaling 56.6 million MNT and 1.1 thousand Monfresh shares were sold totaling 111.0 thousand MNT. (more…)
In conjunction with the 30th anniversary of Erdenet JVC, Mr. Ch.Ganzorig, General Director of Erdenet JVC, Mr.Z.Ganbaatar, Vice Director for Production, Mr. Yo.Bayarsaikhan, Deputy Director for Social Issues, held a press conference.
Erdenet is the key contributor to the development of the Mongolian economy and it has the most up to date technology and facilities and highly trained human resource which secure consistent and continuous production. During its 30 years of history, it enriched 580 million tons of copper ore ad produced 3.4million tons of copper concentrate. As for the first 8 months of 2008, it has profit of 115 billion MNT and provided 512 billion MNT to the state and local budget. (more…)
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