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Monday, June 16, 2014
Headlines in Italic are ones modified by Cover Mongolia from original
KCC closed +9.1% to C$0.06 on the announcement
Kincora Copper Signs Exclusivity Agreement with Potential Bronze Fox JV Partner
VANCOUVER, BRITISH COLUMBIA, Jun 13, 2014 (Marketwire) -- Kincora Copper Limited (the "Company", "Kincora," TSXV:KCC) announces that it has entered into an agreement granting exclusive rights to carry out due diligence with respect to a potential joint venture, earn-in, strategic alliance, equity investment or other transaction in respect to Kincora's wholly owned Bronze Fox project ("Exclusivity Agreement").
The Exclusivity Agreement contemplates various work programs being undertaken by the third party during a staged review period in order to advance toward a Potential Transaction, and maintain certain exclusive rights to such a Potential Transaction and access to the properties/dataroom. The Exclusivity Agreement does not impact or restrict Kincora's ability to undertake ongoing exploration activities or other customary corporate initiatives, such as private placements, securing additional licenses etc. Neither party is obligated to proceed with a Potential Transaction.
Kincora completed one of the most active copper exploration programmes in Mongolia during 2013. The Company recently resumed drilling activities, for the first time since December 2012, at high priority copper porphyry targets, following other initial exploration activities that have already commenced (refer to our May 27th "Exploration Update" press release for further details).
Commenting on today's announcement, Sam Spring, President and CEO of Kincora, said:
"Kincora is the last remaining listed copper junior in Mongolia without a strategic partner. This is despite Bronze Fox being one of the more advanced copper projects, situated in the Oyu Tolgoi mineralisation structural trend, offering large scale potential supported by known widespread lower grade copper mineralization, and localized higher grades, and strategically located in one of the most rapidly developing mining centers anywhere in the globe notwithstanding being in the center one of the last underexplored frontiers.
The Company has attracted interest from various existing large-scale copper producers and welcomes advancing discussions with this particular group as we continue our ongoing drilling and other exploration activities at Bronze Fox. Kincora continues to have considerable support from new and existing shareholders, as illustrated by the recent oversubscribed private placement, and is actively pursuing various avenues to advance the technical progress of Bronze Fox."
The Company is captured under certain Confidentially Agreements that are customary for such an Exclusivity Agreement and will continue to inform the market of its exploration progress and any material corporate developments.
CG closed +3.94% to C$4.75 on the announcement
Centerra Announces Receipt of Kumtor Mine Plan Approvals
TORONTO, ONTARIO--(Marketwired - June 13, 2014) - Centerra Gold Inc. (TSX:CG) is pleased to announce that it has received the necessary approval of its 2014 Kumtor mine plan from the relevant Kyrgyz Republic agencies. The Company therefore confirms that no shutdown will be required and that the Kumtor operations will continue uninterrupted.
Centerra notes that, throughout Kumtor's history, it has always worked constructively and in good faith with the Kyrgyz Republic government and regulatory authorities to ensure the continuous operation of the Kumtor project for the benefit of all parties.
Aspire Agrees to Buy Mongolia Coal Mine Venture With Noble
By Yuriy Humber
June 13 (Bloomberg) Aspire Mining Ltd. (AKM), the Australian firm developing coking coal assets in northern Mongolia, said it agreed to buy 50 percent of a venture with Noble Group Ltd. (NOBL) to expand its footprint in the Asian nation.
Aspire Mining and Noble Group to develop Nuurstei Coking Coal Project – Proactive Investors, June 13
Mogi: Silicat JSC suspension was lifted on Friday. AGM decided to buy back 16.2 million shares issued in 2011. Looks like they managed to buy back 13.3 of them.
MSE News for June 13: Top 20 +1.78% to 15,166.50, Turnover ₮3 Billion
Ulaanbaatar, June 13 (MONTSAME) At the Stock Exchange trades held Friday, a total of 13 million 292 thousand and 669 shares of 17 JSCs were traded costing MNT two billion 999 million 636 thousand and 923.00.
"Silikat" /13 million 289 thousand and 393 units/, "Mongol savkhi" /821 units/, "Sharyn gol" /808 units/, "State Department Store" /598 units/ and "Mongolia Telecom" /386 units/ were the most actively traded in terms of trading volume, in terms of trading value--"Silikat" (MNT two billion 990 million 113 thousand and 425), "Sharyn gol" (MNT five million 736 thousand and 800), "Mongol savkhi" (MNT 949 thousand and 329), "Gobi" (MNT 642 thousand and 175) and "Mongolia Telecom" (MNT 558 thousand and 928).
The total market capitalization was set at MNT one trillion 549 billion 550 million 667 thousand and 162. The Index of Top-20 JSCs was 15,166.50, increasing by MNT 265.39 or 1.78% against the previous day.
MSE Weekly Review, June 9-13: Top 20 -2.62%, Turnover ₮3.05 Billion
Ulaanbaatar, June 15 (MONTSAME) Five stock trades were held at Mongolia's Stock Exchange June 9-13, 2014.
In overall, 13 million 319 thousand and 056 shares were sold of 39 joint-stock companies totaling MNT three billion 050 million 434 thousand and 907.60.
"Silikat" /13 million 289 thousand and 393 units/, "Khokh gan" /5,485 units/, "Moninjbar" /5,000 units/, "Hermes center" /3,670 units/ and "Mongolia Telecom" /3,000 units/ were the most actively traded in terms of trading volume, in terms of trading value--"Silikat" (MNT two billion 990 million 113 thousand and 425), "Gobi" (MNT 17 million 115 thousand and 855), "Sharyn gol" /MNT six million and 953 thousand/, "Talkh chikher" /MNT six million 372 thousand and 300/ and "APU" (MNT six million 153 thousand and 560).
BoM MNT Rates: Friday, June 13 Close
June MNT vs USD, CNY Chart:
BoM May YoY Statistics: M2 +29.4%, Loans +46.5%, NPLs +94.9%, at 5.1% of Total Loans
Ulaanbaatar, June 13 (MONTSAME) The Bank of Mongolia has reported that money supply (broad money or M2) at the end of May 2014 reached MNT 10,233.3 billion, increasing by MNT 35.5 billion or 0.3% from the previous month, and by MNT 2,325.5 billion or 29.4% against the previous year.
At the end of May 2014, currency issued in circulation reached MNT 863.0 billion, increasing by 21.4 billion or 2.5% from the previous month, and by MNT 32.0 billion or 3.9% against the previous year.
Loans outstanding at the end of May 2014 amounted to MNT 12,053.4 billion, increasing MNT 315.6 billion or 2.7% against the previous month, and MNT 3826.9 billion or 46.5% against the previous year.
Principals in arrears at the end of May 2014 reached MNT 380.6 billion, increasing MNT 81.6 billion or 27.3% against the previous month, and MNT 234.2 billion or 2.6% against the previous year.
The non-performing loans over the bank system reached MNT 619.7 billion, increasing MNT 3.5 billion or 0.6% against the previous month, and MNT 301.7 billion or 94.9% against the previous year.
15.8 million units of shares were sold valued at MNT 105.8 billion at the stock market in first five months of this year.
Budget Deficit at ₮106.9 Billion as of April
Ulaanbaatar, June 13 (MONTSAME) In the first four months of 2014, total equilibrated revenue and grants of the General Government Budget (GGB) amounted to 2,117.5 bln.tog.
Total expenditure and net lending of the budget reached 2,284.5 bln.tog, representing a deficit of 106.9 bln.tog in the equilibrated balance of the GGB.
Compared with the same period of the previous year, tax revenue increased 83.3 bln.tog or 4.6 percent. This increase was largely attributable to increases of 51.0 bln.tog or 16.5 percent in social security contributions, of 24.9 bln.tog or 3.6 percent in revenue from taxes on goods and services and of 16.0 bln.tog or 12.9 percent in revenue from taxes on foreign trade. However, there were decreases of 13.7 bln.tog or 3.2 percent in income taxes and of 25.3 bln.tog or 9.5 percent in revenue from corporate income tax.
In the first 5 months of 2014, total expenditure and net lending of the GGB reached 2,284.5 bln.tog, increasing 412.4 bln.tog or 22.0 percent compared with the same period of the previous year. This increase was mainly due to rises of 123.6 bln.tog or 15.9 percent in subsidies and transfers, of 117.2 bln.tog or 13.4 percent in expenditure on goods and services, of 92.3 bln.tog or 53.1 percent in capital expenditure, and of 76.1 bln.tog or 2.7 times in interest payments.
Births Increase and Unemployment Rate Declines
Ulaanbaatar, June 13 (MONTSAME) In the first five months of this year, 33 thousand and 371 mothers delivered children and the number of live births reached 33 thousand and 600.
The number of the mothers delivered children increased by 1,163 mothers or 3.6%, therefore the number of children rose by 1,235 or 3.8% against the previous year.
The number of unemployed people reached 38.0 thousand at the end of May 2014, reflecting a decrease of 2,557 people or 6.3% against the previous year.
Mogi: just for our sake
$3.65 billion China border town with Mongolia Erenhot named key development zone
June 13 (China Daily) The State Council has approved making Erenhot, Inner Mongolia autonomous region, a key national experimental zone for development and opening-up, according to the city's publicity department.
Details about the plan have yet to be released by the regional development and reform commission.
About 13 million metric tons of goods passed through the city's railway and road ports in 2013, according to customs in Erenhot, making the city the biggest land port and the only railway port on the China-Mongolia border. Trade at these ports reached $3.65 billion last year.
Erenhot will become the second city in Inner Mongolia designated as a key national experimental zone for development - the first was Manzhouli, in the region's northeast, near the Sino-Russian border.
"The establishment of the experimental zone will likely support Erenhot's development with unprecedented policies, not only for the economy, but for social services," said Yu Guangjun, head of the Economic Research Institute affiliated to the Inner Mongolia Academy of Social Sciences.
"Erenhot is a crucial spot to coordinate the relationship between China and Mongolia, whose significance goes far beyond Inner Mongolia," he said. "A national-level experimental zone will also help the city explore more suitable channels to enhance the opening-up of Inner Mongolia."
There are nine land ports on the China-Mongolia border in Inner Mongolia autonomous region.
"If everything goes well, Erenhot will set a good example for other frontier ports, which share a similarly desolate landscape and sparse population, to contribute to the development of Inner Mongolia."
Former premier S. Bayar under possible investigation for uranium licenses
Source: Zuunii Medee
June 12 (BCM) Former Prime Minister Sanjaa Bayar and the former director of state-owned uranium company Mon-Atom are likely to be investigated for the issuance of uranium licenses in 12 of Sukhbaatar Aimag's 13 counties.
The investigation will make specific note of licenses issued for Dariganga Park and Altan Ovoo during Bayar's term of office from November 2007 to June 2008 as well as the head of Mon-Atom at the time of the issuance, R. Badamdamdin. Former Premier Sukhbaatar Batbold, whose term was from 2009 to 2012, may also be under investigation, according to unnamed sources, because of the 24 Dariganga projects for oil exploration launched during his term in office.
Mogi: MP Battulga is the leader of the Mongolia Democratic Union faction of DP. Putting his own in his stead.
MP Sh.Tuvdendorj Becomes Minister for Industry and Agriculture of Mongolia
June 13 (infomongolia.com) At the plenary session of the State Great Khural (Parliament) held on June 12, 2014, one of the issues ratified was promoting a candidate for Minister of Industry and Agriculture as Mr. Sharavdorj TUVDENDORJ, who is a Member of Parliament and Chairman of Legal Standing Committee at the Parliament.
Following an introduction, 34 MPs out of 40 Parliamentarians attended have agreed to promote Sh.Tuvdendorj as the Minister for Industry and Agriculture of Mongolia with 85% of votes, who succeeds MP Khaltmaa BATTULGA.
Afternoon of June 12, Prime Minister N.Altankhuyag officially accrediting the newly promoted Minister Sh.Tuvdendorj and conferred a stamp of the Ministry of Industry and Agriculture.
Sharavdorj TUVDENDORJ, born in Ulaanbaatar in 1967, finished the capital city secondary school No.5 in 1985. Graduated from Military Institute in 1989, specialist in Radio Engineering. In 1999, graduated Otgontenger University in lawyer and in 2000 graduated from the Academy of Management. Lawyer and politician. Doctor of Philosophy in Justice (Ph.D).
Sh.Tuvdendorj a member of Government and Defense Minister in 1999-2000, Head of Mongolian Democratic Union in 2003-2008, Deputy Chairman of Cabinet Office of the Government in 2004-2006, Secretary General of Democratic Party in 2005-2006, Executive Chairman of Mongolian Democratic Union in 2006-2012, Chairman of Democratic Party's Capital City Office, and has been elected as a Member of Parliament in 2012 Parliament Election.
Sh.Tuvdendorj appointed as Minister of Industry and Agriculture – news.mn, June 13
De Facto: It is not an economic crisis, but an institutional one
By Jargalsaikhan Dambadarjaa
June 15 (UB Post) Having been inflated by mining mania, Mongolia's economy has landed on the ground. It has been 25 days since the government commenced the implementation of their 100-day action plan to invigorate the economy. The measures being taken by the government include creating business conditions conducive to raising capital, a plan to "favorably arrange" the repayment of bank loans, providing financing for 579 projects from the fund to develop small and medium industries, and holding an economic summit in June to allow Mongolian companies to introduce their projects to foreign companies.
In addition to taking these measures, we need to correctly determine the real reason behind this economic decline, define its root cause, and fix the problem fully. Otherwise, it will not be possible to invigorate the economy for the long term.
The underlying reason for Mongolia's current economic decline relates to the institutional capacity of political institutions where the authorities exercise their powers, more than it relates to the economy itself. It is because individuals and businesses have to engage many government institutions in order to fully utilize their resources. Their final economic output is dependent on the quality, efficiency, and clarity of those institutions. A good institution must be transparent and accountable, at the very least.
From this point of view, let us look at the parliament, our most powerful political institution, which is supposed to play an essential role in the development of Mongolia, as well as political parties that acquire the ruling power of this institution by winning elections.
The Constitution of Mongolia bestows the State Great Khural of Mongolia (the parliament) with the supreme legislative power to enact laws and make amendments to them. However, it does not mean that they are supposed to pass a law and make changes to that law every single year. Nevertheless, the members of parliament that have been elected by us seem to think that way. For instance, the value added tax was amended 30 times in 16 years, the law on health insurance was changed 10 times in 20 years, and the customs law of Mongolia has been amended almost every quarter.
Furthermore, it has become habit for the public budget to be amended every year. A very abstract public budget that reflects populism is first approved and gets amended afterwards, which expends a great amount of time and money. If you calculate the cost of every one-hour parliament session on budget efficiency, the point of the sessions becomes moot.
The principles, content, and orientation of our laws are changing so abruptly that it is harming not only foreign but also domestic businesses. It can be clearly seen from the amendments to laws that regulate foreign investment. It is also related to the ever-changing views and political stances of our parliament members and their huge differences in education and knowledge. A total of 10 members of parliament who promoted themselves by supporting the "double deel" bill (prohibiting simultaneous holding of offices as a minister and a member of parliament) voted against this belief of theirs.
Failing to recognize the main purpose of the value-added tax law to register all those who are running businesses, members of parliament are only talking about increasing the registration threshold rather than imposing the tax on all economic entities, by reducing the tax rate to one percent. A statement from the Mongolian National Chamber of Commerce and Industry states that only 1.25 percent of total operating companies actually pay VAT, which comprises most of the budget revenue.
Making the income reports of members of parliament publicly available was an important step towards ensuring transparency at the parliamentary level. The next step should be allowing voters to send a request to see how the parliament members they elected are getting and using funds to fulfill their duties. The people need to know which organizations or companies are providing funds to which members of parliament, which lobbies are active, and how this influences their votes.
The Law on Political Parties states, "A party is considered as a union of Mongolian citizens who have consolidated voluntarily with the purpose of organizing social, personal and political activities, as it is stated in the Constitution of Mongolia." A political party is an institution that has the authority to exercise the right to enact laws and establish a government if it gets an absolute majority of votes in a democratic, general election.
Therefore, only when political parties, especially the ruling party, become transparent in their operations and make their expenditure reports publicly available (sources of income, expenses, campaign financing, funding terms and conditions) can there can be justice and fairness in public governance.
Unfortunately, Mongolia has not made any significant steps towards making political party funding and campaign financing transparent. Owing to the ongoing secrecy of political party funding as well as the lack of expenditure reports, a culture has been set where many political party factions negotiate and trade with each other. Likewise, political parties now have a tradition to have their own negotiations with each other.
The financing of political parties has always been undisclosed. Due to conflicts of interest, members of parliament were pressuring cabinet members to the point where they became unable to perform their functions. Consequently, they made an amendment to the constitution in 2000 to allow themselves to "wear two deels" and become a minister despite serving as a member of parliament at the same time. As the sources of political party funding are still undisclosed, it has become impossible to appoint even one or two people outside of the parliament as ministers. It demonstrates how powerful money is in the current parliament and government. Unless there is transparency in the financing of political parties, the double wallets that go with those double deels will never be separated.
It looks like those who are wearing double deels do not seem to care how and when the nation's debt will be repaid as long as they can use the huge foreign loans they've acquired by wagering future mining income to make up for their past expenditures.
It can be said that the current economic decline is a continuation of the 2008 crisis, because the root cause is still the inefficiency of political institutions. The only difference is that the current decline is bringing about much larger negative consequences.
In order to improve the capacity of political institutions, starting with the parliament and political parties, it must be ensured that those institutions are transparent and regularly report to the public. Otherwise, our economy will always be in decline while commodity prices increase and tugrug rates weaken. As a consequence, ordinary people will still be forced to carry the financial burden.
Mogi: weird article, must be the translation. But the criticism of increasing budget for Naadam is of merit.
Issues around Naadam
Trans. by D.Sergelen
June 15 (UB Post) Naadam, when we become careless, is coming. The government passed a Naadam budget so wealthy we'll be making khorkhog near the river and putting out a skin bag for kumiss (mare's milk). Our government budgeted 2.2 billion MNT for three days of Naadam, despite the discussions of a 17.6 billion MNT budget for intercity roads. The Mongolian government is temporarily quiet when they talk about Naadam but their voices become slightly louder as soon as Naadam comes. It is interesting that the government releases money when Naadam comes even when they don't care about decreasing the currency exchange rates, getting rid of the economic crisis, building schools and kindergartens, and fixing highways.
The previous government used to decrease the budget of Naadam year after year and trim the budget for celebrations and entertainment, when economic growth was sky high and we our Oyutolgoi and Tavantolgoi mineral deposits were appraised around the world.
For instance, in 2010 the budget was 1.7 billion MNT, in 2011 1.3 billion and the following year it was 900 million MNT.
At that time, the state budget was thick and citizen's purses were fat. However, the government did not budget huge amounts of money for Naadam. The Reform Government authorized 600 million MNT more than the previous year's budget for Naadam and hit a new record in 2013. But that was nothing. This year's spending has increased to 2.2 billion MNT.
I guess people forgot that the government said one week ago that they wouldn't have excessive spending in the budget. This shows that their speech and actions are not the same. The approved 2.2 billion MNT is a really regrettable expenditure for three days.
Most people don't have Naadam huushuur and khorhkhog as well as a day's regular meat. There are so many households who barely get by and eat a rich family's fat dog and offal. So many staff have been fired from Oyu Tolgoi LLC, which had been so highly praised, and joined the unemployed. Eznis Airways LLC was bankrupted because it could not pay debts to entities or give wages to its staff.
We have to tighten our budget, especially when our pockets become empty. It is not so suitable for state officials to be so privileged at this time. The most interesting question is why 42.8 percent of the budget is dedicated to celebrations and entertainment. The most expensive spending should be dedicated to city maintenance and services but twice that amount of money is financing the Naadam opening and closing ceremonies, which will cost 946 million MNT.
They did not even forget to budget for people to compete with each other with their most expensive cars parked in front of Central Stadium and Khui Doloon Khudag. Under very pleasant conditions, they could get 333.9 billion MNT for other events. Why do we have to give them khuushuur and mare's milk while they compete with each other with their festival clothes and snuffboxes. The budget is earned by the public who are trying to make a living. We don't have any interest in making the rich feel happy and have fun.
It is vital to fix the road from Darkhan to Ulaanbaatar, Erdenesant to Arvaikheer, and Zuunmod to Ulaanbaatar which covers 45.9 kilometer. The summer motorcade has already started in these directions. Frazzled and drunk drivers (from mare's milk) will be burned. These roads are already hell, but it is close to becoming worse. Wouldn't fixing roads save so many people's lives? Naadam will go on for only three days. However, everyday life will continue.
This article has been edited for clarity. Source: http://www.mongolnews.mn/p/52685
Tuushin Corp. Signs $25 Million Loan Agreement with Bank of China
June 16 (Cover Mongolia) Bank of China has signed its first loan to a Mongolian company. The loan is provided by Bank of China's Tokyo branch. Tuushin is a freight forwarding, logistics firm and owns the Best Western Premier Tuushin Hotel.
Cabinet approves list of SME equipment and facilities exempt from customs tax and VAT
June 15 (UB Post) The government has approved the latest list of equipment, facilities and parts for SME manufacturing to be exempt from customs taxes and VAT.
Previously, the government exempted a total of 1,065 types of equipment, used for manufacturing by SMEs, in accordance with resolutions approved in 2009, 2011 and 2012.
With the new approval, the decision was made to annul resolutions approved in 2011 and 2012 eliminating non-manufacturing related products such as televisions, computer monitors, printer ink, touchscreen tablets, and some IT parts brought in from overseas and assembled and sold in Mongolia.
Officials agree on setting a film industry fund for financing Mongolian films
June 15 (UB Post) The Ministry of Culture, Sport and Tourism organized a discussion on pressing problems facing the Mongolian film industry to come up with possible solutions with the Standing Committee on Social Policy, Education, Culture and Science this week.
The attendees raised the necessity to improve film industry policies and highlighted that this sector is in need of more investment sources that are able to meet current demands of the industry's costs.
Officials agreed that establishing a Film Industry Fund for drawing certain amount of money from incomes of national films to financing the sector might be one possible solution for the issue.
The state budget provides a certain amount of financing for the film sector every year, which is worth one third of the costs required for the industry, according to film industry representatives.
Mongolia to Allow Citizens of 42 Countries with High HDI to Travel Visa-Free in 2014-2015
June 13 (infomongolia.com) In recent days, the Cabinet of the Government of Mongolia holds its meeting twice a week in order to implement on time the Government announced 100 Days Action Plan.
The latter Cabinet meeting was held on June 12, 2014, where one of the issues resolved was agreed to welcome Mongolia nationals of 42 countries from Africa, Europe and Latin America regions under visa-free terms.
The countries allowed are considered states with small populations, high per capita Gross Domestic Product and leading nations in the Human Development Index, moreover isolated from Mongolia in terms of geographical locations and will be traveling Mongolia under tourist purposes in two years only or in 2014-2015.
In the list of countries permitted to travel Mongolia visa-free, states of the Russian Federation, People's Republic of China and Republic of Korea are not included.
As of today, nationals of the United States of America, Japan, Federal Republic of Germany and Canada are allowed to enter Mongolia visa-free with any types of passport, and citizens of the United Kingdom of Great Britain and Northern Ireland holding Diplomatic passports are also not required to be issued a visa to enter Mongolia.
According to newly issued resolution, the budget revenue deficit from visa allocation service of some Mongolian diplomatic missions abroad will be commissioned by the Ministry of Foreign Affairs of Mongolia and will be included in the Ministry's 2014 budget and in the 2015 State Budget respectively, where Foreign Minister L.Bold and Finance Minister Ch.Ulaan are obliged to take necessary measures.
Eight Korean businesses propose opening Mongolian branches
June 15 (UB Post) The business center of Korea Trade-Investment Promotion Agency (KOTRA) in Mongolia is set to host a meeting on July 3, where delegates of eight Korean businesses will introduce their operations with plans to open branches in Mongolia.
The companies, including Kumho Asiana Group, Postech, Cyber Factory, Jonhun Trade and Yang Yang Trading, have expressed their interest in releasing their products on the Mongolian market.
The company representative will introduce their targeted products, detailed plans and projections at the meeting.
Sansar Cable signs rights deal for 2016 European Championship and 2018 World Cup
June 13 (SportsPro) CAA Eleven, Uefa's arm's length rights agency for centralised European qualifying games for the 2016 European Championships and the 2018 Fifa World Cup, has signed deals in South Korea and Mongolia.
In South Korea, pay-TV broadcaster SPOTV has taken the package, while Mongolian broadcaster Sansar Cable has also signed a deal with CAA Eleven.
Sansar Cable is the current broadcaster of the English Premier League in Mongolia.
CAA Eleven has now found takers for its rights packages in Thailand, Laos and Cambodia, Myanmar, Malaysia and Brunei, Vietnam, and Indonesia.
Dacheng Attorney Becomes First to Acquire Certificate of Foreign Admitted Lawyer in Mongolia
June 9 (Dacheng) On April 4 2014, Dacheng senior partner Lu HaDa was granted the certificate of foreign admitted lawyer from the Ministry for Justice of Mongolia. Lu thus becomes the first foreign lawyer with such a certificate since foreign lawyers in Mongolia were required for registration.
Lu is head and equity partner of Dacheng LLP, a Mongolia-based branch office of Dacheng. The acquisition of the certificate would have a significant bearing on legal service market expansion in Mongolia and the growth of Dacheng's Global Legal Services Network.
10th Mongolia, Russia, China Trilateral Business Forum Held in Ulaanbaatar
June 13 (infomongolia.com) The 10th Trilateral Business Forum between Mongolian National Chamber of Commerce and Industry (MNCCI), Chamber of Commerce and Industry of the Russian Federation (CCIRF) and China Council for the Promotion of International Trade (CCPIT) was successfully organized in Ulaanbaatar on June 12, 2014.
The Forum aims to support business activities between the three Chambers, implement a joint program and project, and to solve problems facing in trade and businesses of neighboring countries.
The Trilateral Business Forum was attended by MNCCI Chairman S.Demberel, CCPIT Vice Chairman Yu Ping and CCIRF Vice-President Vladimir Strashko, where CCPIT Inner Mongolia Sub-council Chairman Liu Tinshani, President of East-Siberian Chamber of Commerce and Industry K.S.Shavrin, Deputy Head of China Xilingol League Council for the Promotion of Foreign Trade Xin Yanguan and Chairman of Uvs Aimag Chamber of Commerce and Industry, MNCCI, S.Serjim have delivered speeches.
On the same day, the trilateral business meeting was organized at the Corporate Hotel, where about hundred business delegates from Russia and China have attended and it will be continued today.
As a result of the 10th Trilateral Business Forum, the following Memorandums of Understanding on Cooperation were signed between:
1. MNCCI - CCIRF - CCPIT
2. MNCCI - Altai Republic Chamber of Commerce, Russia
3. Darkhan-Uul Aimag Chamber of Commerce and Industry, Mongolia - CCPIT Inner Mongolia Sub-council
4. Bayankhongor Aimag Chamber of Commerce and Industry, Mongolia - CCPIT Inner Mongolia Sub-council
5. Bayankhongor Aimag Chamber of Commerce and Industry, Mongolia - Erlian City Council for the Promotion of International Trade, Inner Mongolia, China
6. Tuv Aimag Chamber of Commerce and Industry, Mongolia - Manzhouli City Council for the Promotion of International Trade, Inner Mongolia, China
7. Zavkhan Aimag Chamber of Commerce and Industry, Mongolia - East-Siberian Chamber of Commerce and Industry, Russia
8. Bayankhongor Aimag Chamber of Commerce and Industry, Mongolia - East-Siberian Chamber of Commerce and Industry, Russia
9. Zavkhan Aimag Chamber of Commerce and Industry, Mongolia - Zabaikalsky Region Chamber of Commerce and Industry, Russia
10. Khentii Aimag Chamber of Commerce and Industry, Mongolia - Zabaikalsky Region Chamber of Commerce and Industry, Russia
11. Dornod Aimag Chamber of Commerce and Industry, Mongolia - Zabaikalsky Region Chamber of Commerce and Industry, Russia
12. Orkhon Aimag Chamber of Commerce and Industry, Mongolia - Omsk Chamber of Commerce and Industry, Russia
13. Bulgan Aimag Chamber of Commerce and Industry, Mongolia - Omsk Chamber of Commerce and Industry, Russia
14. Darkhan-Uul Aimag Chamber of Commerce and Industry, Mongolia - Omsk Chamber of Commerce and Industry, Russia
15. Zavkhan Aimag Chamber of Commerce and Industry, Mongolia - Novosibirsk City Chamber of Commerce and Industry, Russia
16. Tuv Aimag Chamber of Commerce and Industry, Mongolia - Novosibirsk City Chamber of Commerce and Industry, Russia
17. Zavkhan Aimag Chamber of Commerce and Industry, Mongolia - Tomsk Chamber of Commerce and Industry, Russia
"Urgeeleg" Wins Best Film at 2014 Mongolian Academy Awards
By B.Tungalag and Margaux Maxwell
June 15 (UB Post) Los Angeles isn't the only place the red carpet gets rolled out.
The Mongolian National Film Academy held its fourth annual Academy Awards at the luxurious Mongol Shiltgeen on Friday, June 13, celebrating the industry's foremost artists.
The ceremony featured performances by national celebrities Chimedtseye and Mongolian diva Sarantuya, traditional folk dancing, and a morin khuur (horse fiddle) concert.
Special guest Olympic boxing champion Badar-Uugan was also present. Winners of the awards received a gold statue with the Soyombo symbol.
The films eligible to compete in this year's awards were produced and screened in Mongolia from June 1, 2013 to June 8, 2014.
The nominations included: "Zerleg Tsetsegsiin Khulemj" (Garden of Savage Flowers), "Urgeeleg", "Hyazgaargui" (Limitless), "Laridma", "Shargadaaga" (Yellow Colt), "The Call", "Symphony of Death", "Hoyulaa Untakhuu?" (Let's Make Love?), "Tal Nutgiin Byatshan Egch Duus" (Little Sisters of the Steppe), "Luivar" (Fraud), "Ukhel Amidraliin Zaagt" (Space Between Life and Death), and "Khungiin Suulchin Duu" (The Swan's Last Song).
An additional seven documentary films competed in the documentary film category and five short films competed in the short film category.
Notably, Inner Mongolian actress S.Soyiktsetseg was awarded a certificate of honor for her work in "Tal Nutgiin Byatshan Egch Duus".
The Mongolian National Film Academy was founded in 2008 by B.Tsogtbayar, aiming to "select the industry's best artists, introduce newly screened works and to register movies, documentary films and short films in the Mongolian film archive." Its Academy Awards, modeled after the American Oscars, is one of many events trying to further the film industry in Mongolia, which is struggling to compete globally.
Prior to the transition to a free market economy in 1990, Mongolia's filmmaking was controlled by Mongol Kino, a national film studio used to make Soviet propaganda films. This means that emphasis was not placed on artistic quality, but rather ideological promotion. The industry has shifted dramatically over the past 20 years, but the focus on movie making as a source of income as opposed to an artistic endeavor remains.
Still Mongolian cinema has made some headway in the international community. Mongolian film "Remote Control", following a young man's fascination with a woman living in a tower block across the street, won the 18th Busan International Film Festival and has received much international acclaim.
Submissions for the Mongolian International Film Festival began on June 06, 2014 and will be held in Aukland, New Zealand and Los Angeles, California on October 24 and November 15-16, respectively.
This year's Academy Awards awarded artists and film makers in following categories:
Grand Prix - "Urgeeleg"
Best male protagonist - Cultural Merit Worker actor B.Amarsaikhan through "Urgeeleg"
Best supporting actor – Cultural Merit Worker actor S.Bold-Erdene through "Urgeeleg"
Best female protagonist – State Honored Artist U.Uranchimeg through "Garden of Savage Flowers"
Best supporting actress - A.Ganchimeg through "Garden of Savage Flowers"
Best director - J.Sengedorj through "Urgeeleg"
Best visual artist – Ts.Enkhtsogt through "Fraud"
Best art director – Sh.Tegshbayar through "Limitless"
Best music - Music for "Urgeeleg" by Cultural Merit Worker and composer B.Odbayar
Best soundtrack – Soundtrack for "The Swan's Last Song" by T.Ariunaa
Best montage - "Fraud" by E.Enkhtulga
Best sound engineer - S.Nergui through "Urgeeleg"
Best writer – O.Sundui through "Yellow Colt"
Best make-up – "Laridma" by make-up artist B.Shurenchimeg
Best documentary film – "Will" by Tsegts Production
Best producer - Altai Construction LLC
Best short film – "Step" by B.Chinguun
Ulaanbaatar Extends Public Bus Services to 2am
June 13 (infomongolia.com) Upon the request of civilians, the Capital City Transportation Authority is starting to implement night public transportation services with its 8 transports in three routes at the first phase between 10:00 pm and 02:00 am from June 14, 2014.
These routes are between:
- Route No. Tr:2, Khanyn Materialyn Kombinat (KhMK) - Оfitseruudyn Ordon by trolleybus
- Route No. M/ShU/, 7 Buudal - MUBIS by big capacity bus
- Route No. M/ShU/, Nisekh - MUBIS by big capacity bus
The fare for adults is 1,000 MNT and 200 MNT for children per ride, but officials did not say yet how long the service would be continued.
From September 01, 2011, public transportation services were starting 30 minutes earlier than the previous schedules, and services for the main 61 routes in Ulaanbaatar are operational between 06:30 am and 10:30 pm today.
In 2013, the "Tsakhilgaan Teever" company had implemented an "Eco Night Transport" project under an experimental period of 2 months between 05:00 am and 11:00 pm. However, this service was considered unprofitable with too few passengers, but civilians request to extend hours of public transportation, thus Capital City Transportation Authority is extending services for above routes till 02:00 am.
Late night transport service launched – news.mn, June 13
Ulaanbaatar to relocate 10 household areas to build 16 schools and daycare centers
June 15 (UB Post) Families in ten areas in Ulaanbaatar are to be relocated for the construction of 16 elementary schools and daycares as part of the city's economic and social plan for 2014.
The city budget has provided a total of 35.2 billion MNT for the constructions.
As of Thursday, households in seven of the areas were relocated, according to city officials.
The Ulaanbaatar City Procurement Office is currently processing bids for the construction of schools and daycares.
June 15 (UB Post) A 270 meter, two-lane natural stone road was completed between Ankara Street and Laagan Street, and Ulaanbaatar City Governor E.Bat-Uul visited the finished road project on Friday.
This is the third natural stone road to open out of nine planned for Ulaanbaatar this year. The first natural stone road was built from Gandan Tegchilen Monastery to the west, and the second road links Irkutsk and Denver streets.
With the new road, traffic around Bishrelt Hotel and the Zoos Goyol intersection is expected to decrease, according to city administration officials.
Natural stone paved road is known for its long lasting quality, rain absorption benefits, and is suitable for roads between apartment buildings.
Underground pipeline upgrade work can be done without permanently damaging the new pavement, as reconstruction is quite simple. Stone road construction can also be carried out in cold seasons as well.
First Ulaanbaatar Sculpture Festival Announced for 375th Anniversary of UB
June 13 (news.mn) For the upcoming 375th anniversary of Ulaanbaatar city, the Ulaanbaatar City Governor`s Office and General Planning Department of Mongolia along with art organizations plan to hold an Ulaanbaatar Sculpture Festival for the first time in Mongolia.
The organizers aim to encourage artists` creativity, to improve comfort in the city and develop different types of sculptures in the city.
The festival welcomes art organizations, freelancer artists, amateurs and art students to participate.
Participants can use any material they like to build the sculpture. There is no limit for discovering ideas and subjects.
The sculptures of participants will be received at the Department of Furnishing, Manufacturing, and Services, Governor's Office at the Khangarid Palace until June 23rd 2014.
During the Festival the best 30 sculpture works will be selected for the final competition.
The winner of the festival will be named on June 24th and the best work will be placed at the National Garden Park between July 5th and 14th.
First Ulaanbaatar Sculpture Festival to take place – UB Post, June 15
Turkish National Assembly Speaker to Visit Mongolia June 24-27
Ulaanbaatar, June 13 (MONTSAME) Upon invitation of parliament Speaker Z.Enkhbold, his counterpart of Turkey Cemil Cicek is to visit Mongolia on June 24-27.
During his visit here, Mr Cicek is expected to meet government high-rank officials to held negotiations on cooperation matters between the two countries.
Cemil Cicek (born 15 November 1946 in Yozgat) is a Turkish politician who is the current Speaker of the Parliament of Turkey since 4 July 2011. He served as the Deputy Prime Minister of Turkey and Justice and Development Party Member of Parliament from Ankara. He was formerly Minister of Justice and government spokesman.
He was born on 15 November 1946 in Yozgat, Turkey. He graduated from the Law Faculty of Istanbul University. In 1983, he joined the centre-right Motherland Party (ANAP). He became an ANAP MP for Yozgat, and in the late 1980s Minister of State responsible for "the family". In this role he was known for his conservative views on matters of sex and marriage.
Turkish Embassy to Commemorate 45th Anniversary of Ties with Mongolia on June 17-20
June 13 (infomongolia.com) In the scope of the 45th anniversary of the establishment of diplomatic relations between Mongolia and the Republic of Turkey marks this year, the commemorating celebrations will be held in Ulaanbaatar on June 17-20, 2014.
The celebration will be organized by the Embassy of Turkey in Ulaanbaatar in collaboration with the Turkish Airlines, "Aidiner" Group, "216 Yali" Construction Company and Kempinski Khaan Palace.
The Turkish Food Days will be held in Kempinski Khaan Palace on June 17 and at the Embassy of Turkey on June 19 respectively.
Also, Turkish art exhibition, musical performance and model show will be organized at the Embassy of Turkey in Ulaanbaatar on June 20, 2014.
Besides, poetry and essay competitions among students of the secondary school No. 5 named after Mustafa Kemal Ataturk will be held these days.
Moreover, "Mogollar" (Mongols in Turkish) Turkish rock music band will be staging at the Chinggis Square on June 20, notably Mongolian famed rock band "Kharanga" will join the event.
Following the celebration days, the Speaker of the Grand National Assembly (Parliament) of Turkey Mr. Cemil Cicek will be paying an official visit to Mongolia on June 24-27, 2014, upon the invitation of his counterpart of the State Great Khural (Parliament) of Mongolia, Mr. Zandaakhuu ENKHBOLD.
Mongolia and the Republic of Turkey have established the diplomatic relations on June 24, 1969.
Permanent Rep. Attends ASEAN Region Forum Senior Officials Meeting in Yangon
Ulaanbaatar, June 13 (MONTSAME) A delegation headed by Ts.Jambaldorj, the Permanent Representative of Mongolia to the Association of Southeast Asian Nations (ASEAN) participated in the regular ARF Senior Officials Meeting held June 8-9 in Yangon, Myanmar.
The participants from 27 countries shared views and expressed their positions over specific matters on the regional and international security including the Korean Peninsula, territorial disputes in South China Sea, terrorism, situations in Afghanistan and Thailand and elections in Ukraine.
In his speech, Mr Jambaldorj congratulated Myanmar on successfully chairing the ASEAN in 2014, and reaffirmed that Mongolia wants to become a partner of the ASEAN Dialogue. He hoped that Mongolia will participate for the first time in the ASEAN Foreign Ministerial Meeting at an invitation of its chairman.
In addition, the Mongolian side put forward a proposal to run a measure together with an ASEAN member state on one of the topics of disaster prevention, rescuing, peacekeeping or cyber security, within the 2014-2015 ARF inter-session years.
The Mongolian delegation held meetings with officials from Russia, China, USA, Australia, New Zealand and the European Union.
Cuban Embassy to Commemorate Che Guevara's Birthday in Mongolia
June 13 (infomongolia.com) Director of the Agency for Fair Competition and Consumer Protection O.Magnai and the Embassy of the Republic of Cuba in Ulaanbaatar called a press conference to celebrate the date of birth of a major figure of the Cuban Revolution, Che Guevara, which was announced at the National Press Center on June 12, 2014.
During the press conference, Director O.Magnai stressed the commemorating will be held not having connection with public servant, just in terms of his individual interests and said the reason to celebrate was because Che Guevara used to stay on his positions not striving to hold office and who devoted his life fight for the interests of ordinary people.
In the scope of celebration, the Embassy of Cuba is displaying "Che Guevara Life" photo exhibition at the Mongolian National Modern Art Gallery on June 14-16, 2014, where opening will be held at 10:00 am on June 14 and open and free for public.
Also, Cuban singer and composer Eduardo Sosa will perform at the Central Cultural Palace in Ulaanbaatar at 03:00 pm on June 14, 2014.
Local manufacturers to produce wheelchairs with help of Japanese firm
June 15 (UB Post) Nickel Ganbaa LLC and Tugeemel Khugjil NGO have jointly produced a prototype wheelchair with the help of a Japanese company with 30 years of experience. The company plans to domestically manufacture wheelchairs starting July.
The wheelchairs will be produced through orders submitted by requesters and will be customized for the individual needs of the patient.
Wheelchairs currently in use in Mongolia are usually for hospital patients who have injured their legs, while physically challenged people must use custom wheelchairs that address their needs.
Wheelchairs for the disabled are typically lighter, not more than four kilograms, than those used by patients with temporary leg injuries, which are typically ten kilograms, reported Tugeemel Khugjil NGO manager Ts.Lkhamjav.
"People in Mongolia have no choice but to choose from a very limited variety of wheelchairs as no national factory produces wheelchairs. Using unspecified wheelchairs can result in bone deterioration after prolonged use," he added.
Imported wheelchairs costs on average from 150,000 MNT to 200,000 MNT in Mongolia, while custom wheelchairs costs a minimum of 6,000 USD.
Prices for the domestically manufactured custom wheelchairs will be announced shortly before July when it commences production, said the manufacturers.
World Cup fever grips Mongolia
By James Watkins
June 15 (UB Post) A little over 16,000 km away from Ulaanbaatar, a sports tournament has just begun. But this is no ordinary sports tournament; this is the single biggest sporting event in the world, expected to draw one of the largest global television audiences in history, featuring the biggest names in world sport, and costing the host city over 11 billion USD.
The opening of the FIFA World Cup has not gone unnoticed in Mongolia. Upwards of a hundred people attended an event outside the State Department Store to celebrate the opening match between hosts country Brazil and Group A rival Croatia, featuring live music and beer stands. And, despite the lack of Mongolian representation, as well as the unfavorable hours of live broadcasts (most matches kick off at 12, 3 or 6 a.m. by Ulaanbaatar time to cater to the predominantly European viewing audience), large numbers have filled local bars, pubs, and impromptu outdoor screening areas to watch matches live.
As the tournament progresses, there is no doubt going to be growing interest and excitement across the city, but even at this early stage, dozens of local fans braved yesterday morning's poor weather to watch the 6:00 a.m. England vs Italy fixture at one venue alone—a specially erected tent just south of Gurvan Gal Department Store. Over the next month before the June 13 final, we are sure to see almost every alcohol-serving establishment in the city turn any available walls into makeshift projector screens to satisfy the growing numbers of eager fans needing their daily dose of football—and beer.
Many Mongolians, especially young men, are following World Cup coverage on ETV, which is broadcasting all matches live as well as repeats and highlights during the day. Many tune in simply to watch global stars such as Argentina's Lionel Messi, Portugal's Cristiano Ronaldo, and Brazil's Neymar. However, there are also many devoted Mongolian fans with adopted allegiance for various teams across the world, with Spain, Brazil, Germany, and England proving especially popular.
In addition, according to Ganbat Demchigdorj, General Secretary of the Mongolian Football Federation, Russia will also be a fan's favorite as Mongolia's only neighbor to be playing in the tournament, and "obviously we will [also] support other Asian countries such as Japan and Korea."
The global nature of the tournament is surely its key attraction. "To see the best 32 teams from every [nation] in the world, they are excited to see it. This is the magic of football."
As of press time, eight matches have concluded from Groups A, B, C and D. The results are:
Brazil 3-1 Croatia
Mexico 1-0 Cameroon
Spain 1-5 Netherlands
Chile 3-1 Australia
Colombia 3-0 Greece
Ivory Coast 2-1 Japan
Uruguay 1-3 Costa Rica
England 1-2 Italy
Follow the World Cup with the UB Post. Keep up-to-date with the latest scores, upcoming fixtures, and which local venues are screening matches. Let us know how and where you are watching the World Cup—Tweet us at @ubpost to share your story!
The Cartel Makes Its Way to Mongolia
BOGOTÁ, June 13 (TVDrama.ws) The Cartel, a successful drama series from the Caracol TV Internacional catalogue, is scheduled to debut on the Mongolian channel Edutainment TV next week.
The Cartel follows the life of a middle-class young man who gets mixed up in the dangerous world of drug trafficking. The show, which has aired in more than 50 countries, stars Manolo Cardona, Karen Martinez, Diego Cadavid and Robinson Diaz. It is set to premiere in Mongolia on Monday, June 16, and will then broadcast on weekdays at 10:10 p.m.
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