AIDS record hits 46
AIDS first recorded in Mongolia in 1996 and reached 46 as of September 8, 2008. Mostly reproductive age generation is committed to HIV/AIDS. Mongolia is listed among countries where HIV occurrence is low, however it has high risk. Unemployment, poverty and migration among the population are high. AIDS occurrences do not fall down because Mongols visit to China and Russia where occurrence number goes up.
In order to assess these complex issues in the Asia Pacific region, the second regional consultative meeting on universal access to HIV prevention, treatment, care and support took place in Manila 26-28 August 2008. Ten Mongolian scientists participated in the meeting. They are going to mobilize related ministries in order to keep the fund adequate for HIV/AIDS prevention and protection. Also they discussed to insert diagnosis and treat HIV/AIDS without any charges in the curriculum of secondary education institutions.
President sees authorities of petroleum importer companies
President N.Enhbayar received authorities and representatives of Mon Oil and Gas LLC. Also O.Sodbileg, Executive Director of Mon Oil and Gas LLC, D.Enhchimeg, General Director of Petrovis LLC, Ch.Davaanyam, General Director of NIC JSC and R.Ganzorig, General Director of Magnai trade LLC attended the meeting. Mon Oil and Gas LLC has been established at the initiative of major national companies including Petrovis LLC, NIC JSC, Magnai trade LLC, Shunhlai group LLC and Just Group LLC with purposes of increasing the number of petroleum product suppliers and maintaining price stability in the domestic market. During the meeting, the President expressed his encouragement towards the expression of interests of petroleum importer companies to collaborate and suggested that it was essential to identify the way properly, by developing the proposals on the basis of researches and solutions and submitting to the Government and National Security Council.
We reported O.Sodbileg, Executive Director of Mon Oil and Gas LLC after the meeting.
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The Mongolia Investment Forum Starts
The Mongolia Investment Forum hosted by Euromoney starts today in Ulaanbaatar. His Excellency M.Enkhbold, Deputy Prime Minister of Mongolia, Mr.Christopher Garnett, Director of Euromoney Conferences, Mr.Namkhaijantsan, Economic Policy Advisor to the president of Mongolia, and Mr.Ganzorig, Chairman of FIFTA, are made a welcome address to the delegates. “Having valuable achievement of 10% annual economic growth, stable political democracy, economic freedom, and by decreasing number of taxes including VAT from 15% to 10%, Mongolia is attracting foreign investors”, Deputy Prime Minister M.Enkhbold remarked.
Delegates of famous foreign institutions such as ING Bank, Citibank, Deutsche Bank, Eurasia Capital Management, EBRD, UN, and Bloomberg are taking part in conference.
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Mongolia’s Khan Bank Aims to Boost Market Share to 30 Percent
Sept. 9 (Bloomberg) — Khan Bank LLC, Mongolia’s largest bank by assets, aims to boost its market share in loans to 30 percent within four years by adding branches and making acquisitions, Chief Executive Officer Peter Morrow said.
Khan Bank controlled 22.5 percent of the lending market as of June, according to materials distributed at the start of a three-day investor conference in Ulan Bator today. It leads Trade & Development Bank of Mongolia’s 18.4 percent and Golomt Bank of Mongolia’s 15.9 percent. Khan Bank’s 2007 profit jumped 62 percent to MNT 19.4 billion ($17 million) as loans doubled.
“Mongolia has had eight years of sustained high growth,” Morrow said at the event, organized by Frontier Securities. “We’re in principle interested in acquiring banks here.” He said he has no targets so far.
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EBRD Trade Facilitation Programme extends activities to Mongolia
LONDON. September 10. KAZINFORM. The EBRD’s Trade Facilitation Programme (TFP) has successfully extended its risk cover to Mongolia. The Bank’s first transaction under the programme in the country will facilitate imports of cars from Germany and covers 100 per cent of the payment risk of a letter of credit worth $600,000 issued by Khan Bank to BHF Bank in Germany.
Established in 1999, the Trade Facilitation Programme supports trade to, from and within the EBRD’s 29 countries of operations. TFP assists participating banks in building track records with their correspondent confirming banks, reducing cash collateral requirements and freeing up clients’ working capital by providing guarantees to confirming banks for the payment of various trade finance instruments issued by local banks.
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Why Mongolia wants more neighbours
At a training centre west of Ulan Bator, troops from Mongolia, the US and a host of other nations are taking part in the Khaan Quest 2008 military exercises.
Over a three-week period, almost 500 soldiers and military representatives from around the world will participate in drills aimed at improving multinational peacekeeping operations.
Two hundred and twenty of the troops are Mongolian and another 100 are from the US. Representatives from Thailand, Nepal, France and India are also taking part.
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Mongolian parliament appoints vice chairmen
ULAN BATOR, Sept. 10 (Xinhua) — Mongolia’s new parliament on Wednesday appointed Nyamaa Enkhbold from the Mongolian People’s Revolutionary Party (MPRP) and the Democratic Party’s Gavaa Bathuu as its vice chairmen.
Nyamaa Enkhbold was minister of foreign affairs and director of the governmental administration in the former government.
The parliament also set up seven standing committees.
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Uranium 308 Corp.:Company Updates on Progress of Drilling Program at Janchivlan, Mongolia
New Highly Radioactive Zone Encountered in Area Not Previously Drilled or Trenched
LAS VEGAS, NEVADA, Sep 09, 2008 (MARKET WIRE via COMTEX) — Uranium 308 Corp.(URCO) (the “Company”) is pleased to announce the resumption of its drilling program at Janchivlan, Mongolia, about 70 kilometers southeast of Ulaan Baatar (see previous update in news release dated July 24, 2008 at www.uranium308corp.com).
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It is hard to say that there was a progress in the negotiation of the investment agreement
Mr. Munkhbat, the Vice President of Ivanhoe Mines Mongolia Inc was interviewed.
Q: Once the Coalition Government established, the issue of Oyu Tolgoi and Tavan Tolgoi will be discussed. Also there was a rumor that their investment agreement will be signed very soon. We would like to discuss about this issue. Also there was the long awaiting expectation to solve this issue immediately.
Munkhbat: I understand that there is an expectation for both sides. Since after the amendment of the Mineral Law of Mongolia in 2006, Ivanhoe Mines negotiated with the Government of Mongolia and both sides are agreed on the draft of agreement and proposed to the Government. It was proposed to the State Great Khural (Parliament), but it was discussed by the parliamentary session in June, July 2007 and returned to the Government. Since that time it has been pending. I understand that both parties sincerely understand and agree to exploit such a huge project.
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Ivanhoe to develop local copper mines
Ivanhoe Australia Ltd , 83 per cent owned by Ivanhoe Mines Ltd of Canada, will develop three new copper mines in eastern Australia over the next five years, Chief Executive Peter Reeve has said.
One of the mines, the second to be developed, could yield 25,000-35,000 tonnes of cathode a year, Mr Reeve told Reuters
The properties covering 2,250 square kilometres in eastern Australia’s Cloncurry region were undergoing studies to gauge the mines’ economic feasibility, Mr Reeve said after the company filed an update on mines’ estimated reserves.
Ivanhoe of Canada is headed by mining magnate Robert Friedland and in partnership with Rio Tinto Ltd/Plc is attempting to exploit Mongolia’s Oyu Tolgoi copper mine in Mongolia, estimated to be one of the world’s largest.
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