Daily Business News Mongolia

Mongolia steps up to world stage

By Kate Burgess in London

For three days in June a delegation from the Mongolian Stock Exchange – one of the world’s smallest – was holed up in one of Seoul’s top hotels.

More than 400 international investors at a conference on corporate governance were debating orderly stock markets, globalisation, state-owned enterprises and sovereign wealth funds, corporate governance and shareholders’ relationship with the companies they own.
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Deal-making Mongolia Energy defies sceptics

By Eric Ng

If Mongolia Energy Corp is any indi-cation of how volatile share trading in back-door-listed companies can be, Hong Kong Exchanges and Clearing’s reluctance in allowing such deals is understandable.
Mongolia Energy, a little-known coal and metal resource exploration company that has yet to start production, has seen its share price rocket as much as 65 times since its exploration assets were listed early last year.

Shares of the firm last traded this week at an incredible 2,435 times last year’s earnings. Its market capitalisation of HK$93.92 billion of Yanzhou Coal Mining, the listed unit of the mainland’s fourth-largest coal producer, Yankuang Group.
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Mongolia builds its trading presence

Kate Burgess looks at plans by the country’s exchange to draw more foreign investors

For three days last month a delegation from the Mongolian Stock Exchange - one of the world’s smallest - was holed up in one of Seoul’s top hotels. More than 400 international investors at a conference on corporate governance were debating orderly stock markets, globalisation, state-owned enterprises and sovereign wealth funds, corporate governance and shareholders’ relationship with the companies they own.
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Mongolia calm after election riots

(CNN) — Calm returned to the Mongolian capital Thursday after a post-election political rally descended into violence.

Officials were expected to release final results from the weekend’s parliamentary election Thursday or early Friday, Bat Dileg Chulunbaatah of the Foreign Affairs Ministry told CNN.

The capital city of Ulaanbaatar was in the second day of a four-day state of emergency after thousands of protesters, alleging election fraud, clashed with police late Tuesday. The rioting left five people dead and injured 220.
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Streets calm in riot-hit Mongolia

The streets of the Mongolian capital, Ulan Bator, are reported to be calm, two days after rioting that left five people dead.

The situation had stabilised, the justice minister said, and police had replaced troops on the streets.

A state of emergency remains in place in the wake of the violence which erupted on Tuesday night.

Thousands of people took to the streets to demonstrate against alleged fraud in Sunday’s general election.
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7 Videos from Post Election Protests and the State of Emergency in Mongolia

Posted in Government | 1 Comment »

Civil Society Statement

July 2, 2008. Ulaanbaatar, Mongolia. We deeply regret the violence that erupted after the public protest on July 1, 2008, leaving several people dead, many injured, and valuable public and private property destroyed, including precious cultural artifacts. We believe this violence was an extreme expression of deep-seated anger and frustration accumulated by significant sections of the society as a result of persistent injustice and corruption.

We regret that during this critical time of public unrest and violence, political parties are seeking to maximize their political gain in pursuit of their narrow interests with no regard for people’s lives and human rights and freedoms. (more…)

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Mongolian president declares state of emergency

Mongolian President Nambariin Enkhbayar late today declared a four-day state of emergency amid violent protests in the capital over alleged rigged elections, according to national television.

“From 11:30 pm (2100 IST) today there will be a four-day state of emergency,” the announcement said. It added that there would be a 10:00 pm curfew and anyone on the streets after that time without documentation would be arrested.

No public gatherings were allowed and any such gatherings would be broken up, according to the TV announcement, which listed ten proclamations, including a ban on media except for Mongolian national TV and state media organisations.

The announcement also said state buildings must be protected and more security was needed.

Thousands of people were involved in the protests in Ulan Bator today, voicing outrage over what they claimed were rigged elections, forcing police to fire gunshots, witnesses said.
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Emergency situation update

According to the sources, police has arrested 710 people during last night’s violence. The police is now conducting queries from these people since most of these people may have been just observers and not involved in protesting activities. Thus police is releasing some of arrested people. Police administration is holding meeting to discuss about the situations arisen and measures to be taken.

At 1.40 am the gun fires started near Central Hospital #1 building. Hospital staff has stated that they have seen police with special protected clothes firing at people. As a result a young man of 20-25 ages has been delivered to the emergency founded and covered with blood. Although prompt emergency service provided he’s heart beat stopped. The next victim delivered to the emergency has no blood pulse observed as emergency service providers claimed.
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Mongolia declares state of emergency

By Irja Halasz

ULAN BATOR (Reuters) - Mongolian President Nambariin Enkhbayar has declared a state of emergency for four days, after Mongolians alleging election fraud clashed with police and set fire to the headquarters of the ruling party, state television said on Wednesday.

The chaos threatens to further delay deals that could unlock vast reserves of coal, uranium and other resources beneath the country’s vast steppes and deserts, and are seen as key to lifting the isolated Central Asian state out of poverty.

“The president has declared a state of emergency according to the constitution … from 11:30 p.m. on July 1 for a period of four days,” television said.

The state of emergency means protests are banned and authorises security forces to break up protests using force. Central areas have been put under curfew from 10 p.m. to 8 p.m. and alcohol sales are banned over the period.
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