Mongolia business news, articles, reviews and much more…
B.C. wood and technology is being showcased in two demonstration homes in the Mongolian capital Ulaanbaatar, provincial Forests Minister Pat Bell said Wednesday.
The slumping U.S. housing industry may not want any more Canadian lumber but Mongolia, according to Bell, could be one way of diversifying outside North America. (more…)
1. Parliament resolution draft on Government action guidelines,
2. Draft law on modifications to the Budget law of the year 2008 of Mongolia,
3. Budget execution of the year 2007 and a comprehensive financial statement of the Government of Mongolia 2007,
4. Draft law on 2009 Budget of Mongolia,
5. Draft law on 2009 Budget of Mongolia Development fund,
6. Draft law on 2009 Budget of Social insurance fund,
7. Parliament resolution draft on adopting guidelines on developing socio-economy of Mongolia in the year 2009,
8. Parliament resolution draft on adopting guidelines on state monetary policy in the year 2009,
9. Draft law on modifications to the VAT law (exemption of meat from VAT, submitted on March 27, 2008),
10. Draft law on modifications to the Law on setting VAT rate and Parliament resolution draft on Modifications to the Resolution (extend Vat exemption period for flour, submitted on July 4 2008), (more…)
Foreign market conditions affected on inflation growth up to 34 percent this year, though budget waste accounts for not less portion of it. The Ministry of Finance formulated a draft on budget clarification and expense cut. The Government discussed the draft and decided to re-discuss it finally on next Wednesday. Budget income of this year went up by MNT 210.3 billion thanks to gold and copper prices in the world market, domestic activities and services, and increase in petroleum export and import. On the other hand, the income might be cut by MNT 204.5 billion due increasing tax refund and decreasing tax on some domestic goods. (more…)
D.Zorigt, Minister of Minerals and Energy summoned pressing meeting for the 3rd day of his office and got acquainted with winter preparation of the sector. Winter preparation is completed 80 percent, but in some areas it is 40 percent. Specific directions and suggestions were provided to areas with difficulties. It was suggested to complete major overhauls, technical arrangements, investments and winter preparations on scheduled time. Also coal lay in is to be increased and 20-day stock up for peak pressure in winter is to be prepared as well. Power plants have 11-12 day coal resources and 7-day coal resources in winter so far but the plants are urged to pay payables to mines such as Shivee Ovoo and Baganuur. (more…)
Share of Gobi Corporation is decreasing since the beginning of 2008. The order to buy is also decreasing. People say that GOBI has been operating with loss since its privatization. The profit of the factory fell and its loss reached almost a billion MNT. It can be seen from the first half year report. (more…)
Last week, September 15-16, 2008, 629,9 thousand shares of 42 companies were sold at the Mongolian Stock Exchange, totaling 172,1 million MNT. Shares price of 11 SHCs were increased and 16 decreased, in contrary. At the primary stock market, 253 thousand shares of Remicon SHC were sold at 25.3 million MNT. TOP-20 index was 8307,98 and it is decreased by 197,16 points or 2.3%. The total market value set at 688,2 billion MNT. (more…)
On May 15 2008, Remicon SCH listed at the Mongolian Stock Exchange with aim to raise fund for its concrete factory project. Its IPO was 9,9 billion MNT in 98,9 million shares in the primary market of MSE. Its underwriter and dealer was “DSF” Broker and Dealer Company. But as for today, 69,9 million shares in 6,9 billion MNT are not sold yet. (more…)
Yesterday, MP D.Gankhuyag presented his question and comment to Prime Minister S.Bayar on how to distribute the wealth of the nation to the people evenly and mutually beneficial. This proposal comprises the issue not only to evenly distribute the wealth of nation, it also includes to optimize the economy policy of the state.
He also noted that the State Great Khural and Government shall establish the National Council of Financial Advisors (NCFA) consists of economists, financial experts, employers, professional associations of business sectors, National Chamber of Commerce, NGOs, before making any resolutions and decisions. (more…)
It has been two months since decrease of crude oil in the world market. Crude oil price decreased from 147 US$ per barrel to 90 US$. It affects income of oil exporting countries. Therefore OPEC made decision to decrease its production. But it doesn’t take effect on the crude oil price. This current issue is affecting Russian oil producing companies and their stock prices. Russian Federation is drastically decreasing its export tax on oil products in order to support its oil producing companies. (more…)
The State Harvest Committee meeting was held at 15.00 yesterday. Mr. T. adamjunai, the new Minister for Food, Agriculture and Light Industry, has started his very first work as the minister. All the deputy ministers and the heads of Mongolain Railway, Authority of Emergency and Meteorological Insititute.
During the meeting, Mr Ch.Perenlei, head of the strategy and policy making department, reported about the current situation of harvesting. He reported that this year, Mongolia will harvest 200 thousand tons of grain.It will provide 49% of total supply of wheat, 100% of potato, 50% of other vegetables. It was the result of good weather, machinery, grain and soft loan. (more…)
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