Intelligence Officer Hears 5-year Imprisonment
Anti-corruption agency inspected the case related to those committed to bribery and corruption in order to pass huge amount of Yuan through border of Mongolia and transferred the case to the Public Prosecutor. The court trial was held last Friday in Khan-Uul District court. The court sentenced 1-year imprisonment for T.Regzen, a customs inspector who got MNT500.000 corruption for passing 3.240 million Yuan through Mongolian border, 5-year imprisonment for Ts.Galsandamba, Intelligence officer who got MNT 1 million and 90-100 thousand Yuan corruption in Erlian, China and 6-year imprisonment for B.Otgonbayar, who corrupted them.
Dead Bodies of Mongolian Men Poisoned in Afghanistan
Four Mongolian men, worked in Afghanistan, was poisoned and 3 lost their lives on the 23rd of last month. It’s said that they went to Afghanistan through Japanese invested Dainippon Company to help for constructing airport. At first 20 Mongols went to Afghanistan and except 4 of them returned due to extremely hot weather and critical condition of possible armed conflicts. Those 4 men stayed there because of USD1800 to USD2000 per month. There is no official analysis on dead bodies of three men however it is believed that they drank glass polishing liquid. MFA informed that the one, who is alive at the moment, is in Emirates Hospital for treatment. Dead bodies of three men were brought via Berlin-Moscow plane at 06.20. Also the analysis of examination on death cause is being brought via the plane.
The licenses of Asgat and Tavan Tolgoi Mine were Issued to “Erdenes MGL” LLC
License of Asgat Silver Mine at Nogoonmnuur sum of Bayanulgii province, by the resolution of the MRPAM, was issued to “Erdenes MGL” LLC, the state-owned company. Also mining license of Tavan Tolgoi mine at Umnugobi province, was transferred from “Energy Resource” LLC to “Erdenes MGL” LLC. This resolution was made on the basis of the fact that those deposits were included in the strategic deposit because of their exploration expenditure was provided by the state.
MRPAM’S resolution regarding Asgat silver mine was made on the following resolutions and are provision 4 of resolution No 27 of State Great Hural, February 6 2007, Government resolution No 266, November 15 2006, MRPAM’s resolution No 42, February 11 2008, No 63 February 28 2008.
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International Microfinance Conference is Held Successfully
Regular session XI of International Microfinance Center was held successfully between 29 and 31 on May in Ulaanbaatar. Over 500 delegates from 40 countries and representatives of Mongolian banks, international microfinance organizations, investors, experts and professionals attended the Conference, held under the auspice of the President of Mongolia, for three days. In framework of the Conference, which aims to provide complex financial services to poor families and micro-businessmen and supports microfinance sector, branch conferences were held in 4 four halls of the State Palace on economic conditions and state of Mongolia, consumer rights, business sector, financial education provided to the people, new financial products based on to date advanced technology, governance and financial transparency.
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Canadians are to Unite
Khan Resources Company proposed a purchase of Western Prospector
With purposes of strengthening its position and influence in uranium sector, a Canadian Company Khan Resources proposed to acquisition of shares of and merge with Western Prospectors group. However the proposal was like a demand. WPG rejected the proposal, but Khan Resources Company left the proposal open until June 20 without adjusting conditions. These two companies trade their shares at Toronto Stock Exchange and both own deposits in Dornod province. In addition, WPG has coal deposits in Choibalsan and Baganuur.
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Chinese Ambassador Expresses His Gratitude
In May 12, 2008, great loss occurred to the People’s Republic of China. Many countries, including Mongolia, around the globe stretched their hands to China. In return, His Excellency Yu Hongyao, Extraordinary and Plenipotentiary Ambassador of People’s Republic of China, expresses its gratitude to the People of Mongolia. He also updated journalists with the latest news of Sichuan earthquake. As for yesterday’s toll, there are over 67,000 people lost their lives during the disaster and more than 361,000 people were injured. Moreover, another 20,000 people are missing.
The government took urgent measure sending rescue teams from each province and military and police forces the place. Unfortunately, some obstacles still exist. Some rescue operations have been pended due to the sequel quakes, counted as six, following the earthquake.
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Anod Bank Becomes Mongolian SE Member
Director of Mongolian Stock Exchange/MSE/ R.Sodkhuu and Chairman of RPB of Anod Bank E.Gur-Aranz signed the agreement on security issuer at the press and information center of the MSE. At the signing of the agreement of the two, Anod Bank joined MSE membership to trade stocks on the secondary market. After signing on the agreement, the two held a press conference providing detailed information to the media outlets.
R.Sodkhuu, E.Gur-Aranz, N.Davaa, President and CEO of Anod Bank and H.Hulan, Head of press and Public information Department of MSE attended the Press conference. It was interesting for journalists that how many stocks Anod had traded on the initial market and how much fund it raised. Anod bank traded 18’618’171 stocks and raised MNT 20’107’624’680 /1 stock MNT 1’080/. As the ceremony for agreement signing ended, initial market activities of Anod ended at the execution of all orders priced above fixed price by MSE and secondary market starts today.
81 Chinese Citizens Are Deported from Khentii Aimag
Foreign Citizen and Immigrations Agency held an examination for foreign workers in Khentii Aimag. By this examination, they disclosed 81 Chinese Citizens who were working without license, and deported them to China through Khavirga border station of Dornod Aimag last week. Moreover, 152 Chinese Workers of “Nasnii Zam” LLC and 11 Workers of “Tusini” LLC which are working in iron mine of Bor Undur, had violated registration process, and Foreign Citizen and Immigrations Agency penalized above mentioned companies by 1 million tugriks. “Jinhua” and “Nordwind” companies had no violation.
Gold is Exempt from 68 Percent Taxation
Majority of budget of our country comprises of 68 percent taxation or price increase of some products. This taxation is imposed on copper and gold. Yesterday, Economic Standing Committee of the Parliament discussed the draft law, initiated by the Government on nullifying the provision on imposing 68 percent windfall tax on gold. Members of the Democratic Party Council agree with this proposal. Gold mining did not drop down since imposing windfall tax on gold, however there is a fact that handing over gold to the Mongolbank reduced dramatically. MPRP group added gold to the 68 percent windfall tax on copper, initiated by members including N.Batbayar when the draft law was submitted for discussion. If the Government proposal is supported, windfall tax will no longer be imposed on gold and loyalty tax rate will be increased.
MPRP and DP Members Contend
There were several issues to discuss at the Budget Standing Committee yesterday, however the meeting became ineffective due to contending of members of MPRP and DP. At first, DP members rejected to discuss a draft law on Grant of the Nation Fund. They said, “There is no need to make a show to give everyone MNT 50 thousand while Minister of Finance said the fund resource for Grant of the Nation was not clear. Let’s postpone it.” In turn MPRP boycotted, rejecting to discuss a draft law on nullifying some provisions of the law on taxation of price increase of some products. This is the draft law on not imposing 68 percent tax on gold. The Government had initiated the draft law however MPRP members postponed it because DP members were against gold windfall tax at the first time.
