Tuesday, July 6, 2010

[cpsnewswire] [CPS NewsWire, Tuesday, July 6, 2010]

TT Draft Progresses to Plenary Session for Final Vote

July 6 (summarized from Draft Parliament Resolution on TT passed its final reading in todays standing committee on economy meeting, clearing the way for its final discussion during this Thursdays plenary session, the article says.

The draft includes distributing 10% to citizens and selling 10% to domestic companies registered before June 31, 2010 (Mogi: this must be a mistake as June has 30 days)

No announcement on Parliament or Government Press Website was found today as of 5pm.

Link to article


July 5, Ulaanbaatar, Mongolia, /MONTSAME/ An inauguration of state revised registration took place Monday in the Government House. Present at the opening ceremony were S. Batbold, the Prime Minister; N. Altankhuyag, the First Deputy Premier; L. Monkhbayar, head of the State Registration Department (SRD), other officials, guests.

When the state registration is complete, it will be easier to deliver benefits from the Human Development Fund (HDF), guarantee birth certificates, ID cards and registration of permanent locations of citizens, create a unified data, and to give information and references to people. Apart of this, proper conditions will be created for state organizations to share information, to found a registration data, abolish in it a duplication, and make the registration more perfect. 

People must give their fingerprints and photos, and only after that they will get a right to receive each MNT 50 thousand from the HDF. 

Link to article


July 5, Ulaanbaatar, Mongolia, /MONTSAME/ An advisor to the U.S Center for Strategic and International Studies Dr. Zbigniew Brzezinski and his spouse Mrs. Emil Brzezinski will visit Mongolia at invitation of the Prime Minister of Mongolia S. Batbold. This visit will be paid during the 89th anniversary of the People's Revolution of Mongolia and the Naadam festival. 

Link to article

Mongolia says to boost cooperation with China in fighting corruption

ULAN BATOR, July 5 (Xinhua) -- Mongolian anti-corruption authorities on Monday said they are ready to expand cooperation with Chinese counterparts to fight corruption.

Link to article

World Economic Forum thanks Mongolia for hosting mineral meeting

July 6 (Xinhua) Klaus Schwab, executive chairman of the World Economic Forum (WEF) on Monday thanked Mongolian President Tsahia Elbegdorj for hosting a WEF meeting on mineral development.

Following up the roundtable, the letter said the WEF will conduct a serious study of the issues raised at the roundtable and will prepare a draft proposal at the 2011 WEF Davos Forum on the development of the world's mineral sector. 

Link to article

Prisoner Exchange Agreement Expected with China

July 6 (UB Post) Over the past years, Mongolia made to China a proposal to enter into agreement on prisoner exchange for several times, during annual consultative meeting with Chinese Consulate.

Last month of June, the Chinese side agreed in principal to sign the prisoner exchange agreement with Mongolia. In the nearest future, Chinese side is expected to discuss the Mongolia-proposed issue in order to reach their final decision.

Link to article

MEC Appoints David B. Henderson as Director of Geology

Hong Kong, July 5, 2010 - (ACN Newswire) - -

Link to article

OFID extends emergency support to Mongolia to aid dzud disaster victims

July 5 (ReliefWeb) Vienna, The OPEC Fund for International Development (OFID) has approved an emergency relief grant of US$250,000 to Mongolia, to assist communities and families affected by the recent dzud disaster.


Link to article

Buses to have their own lanes

July 5 ( An agreement to develop public transportation was signed between the Asian Development Bank and the Mongolian Government at a ceremony on July 2, attended by, among others, Mayor G. Munkhbayar, the head of the Loan Policy and Cooperation Department of Finance Ministry, B. Khurelbaatar, and the ADB Representative in Mongolia, S. Ljunvoll. The total cost of the project is USD299 million of which the first installment of USD27 million will be released soon.

There will be 12.6-meter-wide lanes for buses only.  GPS devices will be installed and all the buses will be controlled from one center. It will take seven years to build these special lanes. New subways will also come up in the 30 years of the project

Link to article

Minister wants fewer categories of visa for foreigners

July 2 ( Internal Affairs Minister Ts.Nyamdorj finds the present practice of classifying foreign citizens into six categories as too cumbersome and would like to have only two categories.

As of now a non-Mongolian can be in the country on a visitor visa, or as a temporary resident, or a permanent resident, or an immigrant, or a long-term resident on business purpose, or a long-term resident on private grounds.

The differences are often arbitrary, leading to uncertainty for both the visitor and the authorities. The Minister plans to amend the current law so that foreign visitors, whether here on private or official business, will be put into only two categories: temporary visitor and resident.

Link to article

Annual survey of investment opportunities

July 2 ( The Mongolian National Mining Association and School of Economic Studies of the National University of Mongolia are conducting the third annual survey to assess the investment attractiveness and competitiveness of the Mongolian mining and minerals sector in terms of various determinant factors such as minerals policies and regulations, institutional quality, government effectiveness, availability of labor skills and physical infrastructure.

 The findings of the survey are expected to be a critical contribution to developing and improving the minerals policies and regulations and to creating a more favorable environment for investments in the sector.

Link to article


Shares rally as RBA holds fire

July 6 (AAP) Close, The Australian sharemarket rose strongly in afternoon trade, reversing early losses, after bargain hunters sought out beaten-down banking shares and the RBA kept interest rates steady.

At the close, the benchmark S&P/ASX200 index was up 54 points, or 1.3 per cent, at 4276.1, after earlier falling about 0.7 per cent lower and hitting a 12-month low. The broader All Ordinaries index gained 49.1 points, or 1.2 per cent, to 4299.7.


- Asian shares reverse course as mood lifts
- The dollar rises to 84.5 US cents on RBA
- Oil extends losses to four-week lows near $US71
- Gold inches up to $US1207
- Dow futures are 12 points higher at 9608.

‘‘BHP, Xstrata and Rio virtually announced in concert re-starting of shelved projects, all to the good,’’ he added.

BHP Billiton firmed 17 cents to $37.15, while Rio Tinto backtracked 15 cents to $65.10.

Link to article


Asian Stocks Advance the Most in Two Weeks on Valuations, China

July 6 (Bloomberg) -- Asian stocks rose, driving up the MSCI Asia Pacific Index by the most in two weeks, as investors bet equities had become cheap relative to earnings prospects.

The MSCI Asia Pacific Index rose 1.4 percent to 113.44 as of 5:27 p.m. in Tokyo, headed to its biggest gain since June 21. 

Sydney to Shanghai

Australia’s S&P/ASX 200 Index gained 1.3 percent today, Japan’s Nikkei 225 Stock Average increased 0.8 percent, Taiwan’s Taiex Index climbed 1.5 percent and Hong Kong’s Hang Seng Index rose 1.2 percent. China’s Shanghai Composite Index climbed 1.9 percent, the biggest advance among benchmark indexes in the Asia-Pacific region.

“The rally in China’s stocks gave direction to investors, and they started buying stocks again,” said Ayako Sera, a strategist in Tokyo at Sumitomo Trust & Banking Co., which manages about $310 billion.

Futures on the Standard & Poor’s 500 Index rose 0.6 percent. U.S. markets were closed yesterday for Independence Day. 

Link to article

Copper Shortage Looms as Codelco Sees Limits on Mines 

July 6 (Bloomberg) -- The world’s biggest copper producers are warning of looming supply limits at the same time that growing concerns about the global economy leave investors with the largest losses in nine years.

While London Metal Exchange futures anticipate prices no higher than $6,519.50 a metric ton through the end of 2011, or 1.2 percent more than for delivery now, 13 of 14 analysts surveyed by Bloomberg expect a shortage next year. Traders are being too bearish because lower prices may curb spending on mines and exacerbate future shortages, said Goldman Sachs Group Inc., which forecasts a price of $8,050 in 12 months.

Metal for delivery in three months, the benchmark contract, slumped 19 percent since April to $6,505 at 5:58 a.m. in London today on concern the economic recovery would slow in the second half. Manufacturing growth weakened last month in China, Europe and the U.S., which account for as much as two-thirds of global demand.

‘Declining Ore Grades’

The surplus will shrink next year because of “declining ore grades in mines, infrastructure problems and postponing planned mine projects due to problems with project financing,” Herbert Wirth, chief executive officer of Lubin, Poland-based copper miner KGHM Polska Miedz SA, said in an e-mail.

Link to article


Japan public TV drops sumo after scandal

July 6, TOKYO (AP)—For the first time since it began televising sumo tournaments 57 years ago, Japan’s public broadcasting network decided Tuesday not to air the upcoming competition live because of a gambling scandal that has sullied the sport’s reputation.

Link to article


"Mogi" Munkhdul Badral

CPS International


Mobile: +976-99996779

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based ASX Licensed Financial Services Company. To trade ASX stocks, feel free to contact me at or +976-9999-6779.

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