Mongolia Business and Mongolian Daily Business News

Yesterday, 249.2 thousand shares of 17 SHCs were sold at MSE, totaling 71.3 million MNT.
Remicon was the actively traded share at the primiary market and Hermes Centre share was the most active in the secondary market. In comparison against the previous day, Shivee Ovoo share increased by 6.12% and NIC and Mongolia Telecom share decreased by 14.5%.

Due to the cut-off of optic cabel of railcom of the Mongolian railway last night, internet service was failed in Ulaanbaatar. A Chinese road building company’ excavator cut the railcom optic cabel, 4 km from Sainshand city, the center of Dornogobi aimag. The cut cabel was restored at about 22.00 and the internet was back to its normal last night. The Chinese company will be fined for its damage.

Prime Minister S.Bayar received Mr. Kh.Ishige, the Japanese Deputy Minister for Economy, Trade and Industry. He is attending the second consultative meeting of private sector and Government of Mongolia and Japan in Ulaanbaatar. Mr. Ishige stated that over 50 institutes and organizations such as Itochu, Marubeni, Mitsubishi companies and JICA, are taking part in the consultative meeting and it is important to implement constructive works in increasing Japanese investment and improving economy and trade cooperation.
Also he mentioned that Japanese private sector is interested in mining industry, namely uranium, copper, coal and rare earth metal exploitation and seeking the support from the Government of Mongolia. “Japan focused mainly on assisting and supporting economy of Mongolia. Now, it is time to start new era of mutually beneficial cooperation based on real investment” he continued. Read the rest of this entry »

World Bank and Mongolian Government are jointly implementing project “Improvement of information telecommunication infrastructure”.
World Bank sends a letter of appraisal on the activities implemented by the Telecommunication Regulatory Committee, the Government of Mongolia. In the letter, the issue of forming legal environment of establishing the Public Service Role Fund at the Telecommunication Regulatory Committee with aim to bring wires communication to the countryside and remote areas, expand its service area, improve service quality, successfully launching its activities was highly appreciated. Read the rest of this entry »

Between September 8-12, 2008, 629.9 thousand shares of 42 SHCs were sold at the Mongolian Stock Exchange, totaling 172.1 million MNT during 5 stock trades.
At the primary stock market, 253 shares of “Remicon” SHC were sold, totaling 25.3 thousand MNT.

TOP-20 index was 8307.98 and it was decreased by 197.16 points or 2.3%. As the result the market value was 688.8 billion MNT. Shares of Telecom Mongolia (by -13.8%), Erdenet Carpet (-12.5%), APU (-10.7%), Eermel (-7.3%) and the State Department Store (-5.1%) were decreased. Read the rest of this entry »

11 September 2008 – Officials in Mongolia and Pacific Island States are set to receive training in information and communication technology (ICT) geared towards helping them achieve their social and economic development goals, thanks to two new agreements signed with the United Nations.

The UN Asian and Pacific Training Centre for ICT for Development (UN-APCICT), which is leading the effort, will customize its training curriculum – known as the Academy of ICT Essentials for Government Leaders – in cooperation with Mongolia’s Information and Communication Technology Authority (ICTA) and the Pacific Islands Applied Geoscience Commission (SOPAC). Read the rest of this entry »

5 stock trades were held in a week between August 18-22, 2008. 654.8 thousand shares of 31 SHCs were sold at the Mongolian Stock Exchange, totaling 195.5 million MNT.

1.7 thousand shares of Remicon SHC were sold in 170.3 thousand MNT.

Index of Top-20 was 8670.71 and it was decreased by 830.85 units or 8.7%. Hence the total market capitalisation was set at 734.2 billion MNT.

Shares which prices were dropped are; Ulaanbaatar Hotel (by -27.8%), Gobi (by -7.5%), Mongolia Telecom (by -9.1%), Baganuur Mine (by -6.4%), NIC (by -6.3%), APU (by -6.4%), Moninjbar (by -9.7%).

468.9 thousand shares of Khukh Gan SHC, 71.4 thousand shares of Anod Bank, 55.2 thousand shares of Hermes Centre SHC, 22.2 thousand shares of Genco Tour Bureau (GTB), 21.9 shares of APU SHC were sold and most active.

As for the week between August 11 – August 15 2008, 1.2 million stocks of 44 SHCs were sold at 283.7 million MNT. 10.3 thousand stocks of Remicon SHC were sold at 1.0 million MNT at the first market trading of the Mongolian Stock Exchange. Read the rest of this entry »

Japan Times writes that,

By MARK SCHREIBER

Since 1907, when yokozuna (grand champion) Hitachiyama visited the United States on the first sumo tour abroad, generations of the Japan’s giant grapplers have reveled in their roles as roving goodwill ambassadors.

Sumo’s next overseas mission is to be a two-day tournament at the end of August in Mongolia’s capital Ulan Bator.

When Shukan Post (May 23) first broke this story, it was clear the Mongolian hosts had yet to achieve consensus on were the bouts were going to be held. Now, with the event less than four weeks away, Shukan Post (Aug. 8 ) reiterates its earlier premise that the real battle is shaping up outside the straw ring, and it’s pitting the vested interests of two Mongolian nationals against one another — with the Japan Sumo Association caught in the middle.

One, 35-year-old Davaagiin Batbayar, competed under the name Kyokushuzan before his retirement in November 2006. While Kyokushuzan never rose above komusubi (the fourth-highest ranking), he was the first from his country to break into sumo’s makunouchi top division. Read the rest of this entry »

By Shiri Habib Valdhorn, Globes

Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) will provide Mongolian telecommunications service provider Incomnet with a SkyEdge broadband satellite communications network to serve end users throughout the country. The company did not disclose the size of the contract.
Incomnet has been a Gilat customer for seven years. The new VSAT network will provide services in rural areas under Incomnet’s universal service obligations. Read the rest of this entry »