Monday, October 20, 2014

[GoM repays TRQ, 28 MPs challenge AK, MPP blocks 3 ministers, DP-Justice Coalition extend deal, and Mongolia succumbs to Simon Cowell]

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Monday, October 20, 2014

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Overseas Market

Turquoise Hill Receives US$115 Million Mongolian Treasury Bill Repayment

VANCOUVER, BC--(Marketwired - October 17, 2014) - Turquoise Hill Resources today announced that the Company has received repayment for its US$115 million Mongolian Treasury Bill, which matures on October 19, 2014.

Link to release


Alisher Ali's Silk Road Ventures Commences Trading on Canadian Securities Exchange

Vancouver, British Columbia--(Newsfile Corp. - October 17, 2014) - Silk Road Ventures (CSE: SFA) is one of the latest new listings on the Canadian Securities Exchange. Silk Road Ventures is an investment company focused on developing and investing in high growth businesses in frontier markets globally, with particularly emphasis on Myanmar, Mongolia and Mozambique. has produced a "video news alert" which provides a brief overview of the company. If this link is not enabled, please visit and enter "Silk Road" in the search box.

The company is led by Chairman, Alisher Ali, no stranger to frontier markets. Ali has more than 17 years of investment management, investment banking and advisory experience in emerging and frontier markets including Russia, Kazakhstan, Azerbaijan, including the company's current focus of Mongolia, Myanmar and Mozambique.

Ali, with a Master of International Affairs from Columbia University and an MBA from Oxford University, was previously a Vice President of Auerbach Grayson & Co., a brokerage house in New York, where he advised US institutional investors about investing in emerging and frontier markets in Europe, Middle East and Africa. He was Head of Corporate Finance in Central Asia and the Caucasus at Ernst & Young as well as investment banker at Renaissance Capital in Moscow and Credit Suisse First Boston in Zurich and London.

Alisher Ali believes the following factors will drive the growth in these selected frontier markets:

They are endowed with abundant natural resources such as oil and gas, mining and metals, agricultural land and forests, and hydropower resources.

They are favorably located near advanced and emerging economies including some members of BRICS.

They are emerging as new energy and food sources for consumers in key advanced and emerging markets.

They have large populations with positive demographics and low cost labor base.

Their economies are undercapitalized and open to foreign capital.

The company has 61.9 million shares outstanding. For more information, please visit the company's website or contact Alisher Ali in Mongolia at +976 77119799 or by email at

Link to release


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Local Market

MSE News for October 17: Top 20 -0.00% to 15,614.18, Turnover 1.9 Million

Ulaanbaatar, October 17 (MONTSAME) At the Stock Exchange trades on Friday, a total of 1,260 shares of 10 JSCs were traded costing MNT one million 900 thousand and 974.00.

"Merex" /364 units/, "State Department Store" /298 units/, "Khokh gan" /280 units/, "Gobi" /125 units/ and "Moninjbar" /100 units/ were the most actively traded in terms of trading volume, in terms of trading value were "Gobi" (MNT one million), "Talkh chikher" (MNT 240 thousand), "Makh impex" (MNT 185 thousand and 730), "State Department Store" (MNT 168 thousand and 817) and "Tav" (MNT 149 thousand and 900).

The total market capitalization was set at MNT one trillion 567 billion 185 million 664 thousand and 995. The Index of Top-20 JSCs was 15,614.18, decreasing 0.36 units or 0.00% against the previous day.

Link to article


MSE Weekly Report, October 13-17: Top 20 -0.6%, Turnover 91.7 Million

October 17 (MSE) --

Link to report


Merex Obtains Permit to Manufacture Concrete

October 17 (MSE) Mongolian Stock Exchange-listed "Merex" JSC issued a statement to the public according to the Article 20 of the "securities law" and the section 3.2 of "regular procedure of security issuer to the public"

"Merex" JSC (MSE:MRX) had done preparation work, finished technical extension and installment and got a license  No. BMU 387/14 for running manufacturing of concrete business from Ministry of Construction & Urban Development with the duration of 3 years on October 13th, 2014.

Click here to see detailed information.

Link to release


FMG Mongolia Fund gained 10.3% in the 3rd Quarter

October 17 (FMG Funds) Negative investor sentiment appears to be coming to an end after years of economic hardship stemming from populist measures and weak commodity prices. During the quarter we saw a pick-up in activity in offshore listed Mongolian equities, while the MSE Top 20 was range bound and flat. The Mongolian Tugrik has been depreciating on the back of a current-account deficit and rising external debt. In an attempt to offset the persistent economic decline, an expansionary monetary and fiscal policy has added further pressure on the MNT. The Tugrik lost 1% against the US Dollar over the quarter and over the past two years it has been one of the world´s worst performing currencies.

We have been positioning the fund in anticipating of a resolution of the Oyu Tolgoi dispute. During the quarter the Mongolian government announced that the OT tax dispute has been settled, bringing the two sides one step closer to concluding the conflict. Turquoise Hill and other Mongolia related mining companies share prices rallied sharply as investor sentiment was boosted.

We reduced our cash position from 17% to less than 5% and added selectively to a few offshore listed core holdings. Adding to the positive sentiment was Chinese President Xi Jinping's first official visit to Mongolia since he entered office. A number of strategic deals were signed, strengthening Mongolia´s relationship with it largest trading partner.






















































Link to release


MSE CEO Meets IFC Senior Operations Officer on Improving Governance

October 16 (MSE) On October 16th , 2014 D Angar, acting Chief Executive Officer of the Mongolian Stock Exchange met with Anar Aliyev , the International Finance Corporation and the World Bank Group senior operations officer Anar Aliyev due to his request.

During the meeting, detailed information was given on the activities of the Stock Exchange, views and opinions were being shared on how to work together to improve the governance of the company.

Link to release

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Early morning non-cash USD rates: Khan (Buy 1,844 Sell 1,854), TDB (Buy 1,844 Sell 1,854), Golomt (Buy 1,846 Sell 1,854), XacBank (Buy 1,843 Sell 1,854), State Bank (Buy 1,845 Sell 1,854)

BoM MNT Rates: Friday, October 17 Close

















































October MNT vs USD, CNY Chart:


Link to rates


Mongol Bank buys 9.5 tonnes of gold by October, 81% more than 2013

October 17 (Mongolian Economy) Gold transactions at Mongol Bank have increased by 81.4 percent due to the changes in the Gold Law and Minerals Law. 

By October this year, there have been 1,516 unique gold transactions from entities plus 736 transaction from individuals ¬– close to more than 2,200 times. In 2013, only 1,299 unique gold transactions with Mongol Bank were made.

Last year, Mongol Bank had bought 5.2 tonnes of gold by October and at the same time in 2014 this figure is 9.5 tonnes – an 81.4 percent increase. A trend largely attributed to the ratification of the Gold Law and changes made to Mineral's Law. 

There are over 67 gold mining companies throughout the country. In the first 10 months of the year, gold sales injected USD 328 million to Mongolia's economy by exporting it. 

"Gold is free convertible foreign currency and strategic product which sustains its value. Thus, gold is one source to increase foreign currency reserve for a country like Mongolia where there are not many competitive products to export," says Sukhbaatar Purev, director general at The Bank of Mongolia, Banknote and Treasury Department. 

By the end of this year, Mongol Bank expects to buy 12-15 tonnes of gold, equal to USD 600 million.

Link to article


BoM: Consolidated Balance Sheet of Banks, August 2014

October 17 (Bank of Mongolia) --

/in million of togrogs/







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Link to release


BoM issues 139.6 billion 1-week bills, total outstanding +8.7% to 478.8 billion

October 17 (Bank of Mongolia) BoM issues 1 week bills worth MNT 139.6 billion at a weighted interest rate of 12.0 percent per annum /For previous auctions click here/

Link to release


BoM: Monthly Statistical Bulletin, September 2014

October 17 (Bank of Mongolia) --

Link to report


Russia And China Want To Build The Longest High-Speed Railway In The World To Connect Them

(The new bullet train would run alongside current trains but will cut the travel time by 6 days.)

October 17 (AFP) China and Russia are considering building a high-speed rail line thousands of kilometres from Moscow to Beijing that would cut the journey time from six days on the celebrated Trans-Siberian to two, Chinese media reported Friday.

The project would cost more than $230 billion and be over 7,000 kilometres (4,350 miles) long, the Beijing Times reported -- more than three times the world's current longest high-speed line, from the Chinese capital to the southern city of Guangzhou.

The railway would be a powerful physical symbol of the ties that bind Moscow and Beijing, whose political relationship has roots dating from the Soviet era and who often vote together on the UN Security Council.

They have strengthened their relationship as Western criticism of Russian President Vladimir Putin mounts over Ukraine and other issues.

The two signed a memorandum of understanding earlier this week during Premier Li Keqiang's visit to Moscow in which Beijing expressed interest in building a fast rail link between the Russian capital and Kazan in the oil-rich Tatarstan region, state broadcaster China Central Television reported.

The 803-kilometre line would be the first stage of the route to Beijing, CCTV said.

At present, trains between the two run along the Trans-Siberian railway that links Moscow and Vladivostok, before switching to a branch line heading south through the Mongolian capital Ulan Bator.

Direct passenger trains between Beijing and Moscow went into operation in 1954 and there are still two services per week, CCTV said.

The new link would cut the train travel time from six days at present to under two days, the Beijing Times quoted Wang Mengshu, a tunnel and railway expert at the Chinese Academy of Engineering, as saying.

"If the funds are raised smoothly... the line can be completed in five years at the quickest," he added.

The paper cited a research report that put the cost of one kilometre of Chinese-built fast rail at $33 million.

The country has the world's largest high-speed rail network, built from scratch in less than a decade, relying on technology transfer from foreign companies, including France's Alstom, Germany's Siemens and Japan's Kawasaki Heavy Industries.

Its reputation was tarnished after a bullet train collision in July 2011 near the eastern city of Wenzhou that killed at least 40 people and injured hundreds.

But China is now keen to promote the export of its technology, and has been building high-speed rail networks in Turkey and Venezuela. 

Link to article


Plans unveiled for new £144bn high-speed rail link from Moscow to Beijing bypassing Mongolia Daily Mail, October 17

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Politics & Legal

Mogi: 26 of MPs are MPP, 1 from DP (Batzandan), 1 from MPRP (Vice Speaker L. Tsog)

28 MPs Sign & Submit Bill to Dismiss PM

October 17 ( On October 17, 2014, MP D.Khayankhyarvaa, MP Ya.Sodbaatar, MP N.Nomtoibayar and MP Ch.Khurelbaatar representing some 28 Members of the State Great Khural (Parliament) have submitted a Letter of Request to withdraw the Prime Minister of Mongolia and handed it to the Speaker of Parliament Z.Enkhbold.

The reasons to remove the incumbent Premier N.Altankhuyag are based on breaches of several clauses of the Constitution of Mongolia and as explained the letter handers, the Head of Government cannot perform his functions properly, besides violating the legislations repeatedly, and cannot rule the government organizational works that caused to decrease foreign direct investments.

Moreover, the Cabinet chaired by N.Altankhuyag sickened the country economy in terms of reckless spending without studies, even the International Monetary Fund, the World Bank and other international independent organizations keep warning that Mongolia's economic growth will slow down considerably and is likely to decelerate and slip into the single-digit, claim above Parliamentarians.

Link to article


Proposal Submitted to Parliament on Dismissing PMMontsame, October 17


Mogi: will follow up

DP, MPRP-MNDP Justice Coalition Sign Agreement to Extend Cooperation

October 20 (Cover Mongolia) On Saturday, October 18, leaders of DP and MPRP-MNDP Justice Coalition, PM N. Altankhuyag and former president N. Enkhbayar signed an agreement extending their existing cooperation agreement, undisclosing details in a press release posted on the government website.


Opposition Blocks Appointment of 3 Ministers Over Unnamed 4th Minister

October 17 ( At the irregular plenary session of the State Great Khural (Parliament) held on October 16, 2014, it was ratified to dismiss seven Ministers from their posts following the decision to merge six Ministries into three organs and change the Ministry of Foreign Affairs as the Ministry of Foreign Affairs and Economic Cooperation.

Accordingly, former seven Ministers and incumbent Parliamentarians Mr. Chultem ULAAN (Ministry of Finance), Mr. Luvsanvandan BOLD (Ministry of Foreign Affairs), Mr. Tsevelmaa BAYARSAIKHAN (Ministry of Construction and Urban Development), Mr. Amarjargal GANSUKH (Ministry of Roads and Transportation), Mr. Davaajav GANKHUYAG (Ministry of Mining), Mr. Nyamjav BATBAYAR (Ministry of Economic Development) and Mr. Mishig SONOMPIL (Ministry of Energy) are no longer hold their posts.

However, it was expected to approve three new Ministers (D.Zorigt as the Minister of Finance, L.Purevsuren as the Minister of Foreign Affairs and Economic Cooperation, and R.Jigjid as the Minister of Mining and Energy) at the irregular session, but Mongolian People's Party (MPP) Group at the Parliament requested a 5-day postponement on the ground that the name of the fourth Minister (for Infrastructure Development) should be submitted as well as other Ministers if to be changed should be also introduced same time.

Thus, in absence of opposition party (MPP) representatives, Parliament cannot ratify new heads of the Ministries of Mongolia.

Therefore, an irregular Cabinet meeting was held later on October 16th and it was decided to appoint temporarily the heads of 'vacant' Ministries until its new Ministers will be approved by the Parliament.

Henceforth, Minister of Population Development and Social Protection S.Erdene will co-chair the Ministry of Infrastructure Development, Minister of Industry and Agriculture Sh.Tuvdendorj to co-chair the Ministry of Mining and Energy, Head of the Cabinet Secretariat Ch.Saikhanbileg to chair the Ministry of Foreign Affairs and Economic Cooperation, and Prime Minister N.Altankhuyag to chair the Ministry of Finance respectively.

Link to article


Foreign Minister hands over position to caretaker amidst replacement roadblock

October 17 ( Foreign Affairs Minister L.Bold has relinquished his position today as he has been dismissed due to the restructure of the government. The position has been handed to the Head of Cabinet Secretariat of Government, Ch.Saikhanbileg.

The Head of Cabinet Secretariat of Government Ch.Saikhanbileg said, "L.Bold has done many great things in a short term. He will be remembered for quite some time. We know that he was successful during his term as the Defense Minister. I want to clarify that this dismissal is due to the restructure of the government, not punishment." Ch.Saikhanbileg wished L. Bold success in his future endeavors.

Foreign Affairs Minister L.Bold responded with, "The Foreign Affairs sector is where much can be done with less. As a member of the Standing committee on Security and Foreign Affairs, I will keep working close with the Defense and Foreign Affairs Ministries. However, I relinquish my position as Foreign Affairs Minister as I make my way toward becoming an MP."

Link to article


Cabinet Submits Bills to Change Mineral Permit Fees from USD to MNT & 2015 Budget

Ulaanbaatar, October 17 (MONTSAME) Head of the Cabinet Secretariat for Government Ch.Saikhanbileg Thursday submitted to the Speaker Z.Enkhbold bills on the 2015 budget, on the 2015 budget for social insurance fund, and on the 2015 budget for Human Development Fund (HDF).

Moreover, he presented draft amendments to the laws on excise tax and on minerals. By the latter he wants to change a situation when a fluctuating rate of the US dollars, in which a payment for special license is made, increases tax pressure and affects the budget revenue. He also proposes making the excise tax payment in the Mongolian Togrog (MNT). 

Link to article

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Simon Cowell Sells 'Got Talent' Format to One Last White Blob on the Map, Mongolia


October 18 (Mail Online) --


Simon Cowell has been awarded the main 'Personality of the Year' honour at the MIPCOM Television Festival in Cannes. 

So he flew me in from LA to interview him on stage in front of 4,000 delegates.

'Better the devil you know,' he explained. 'I'll sharpen my horns,' I replied.

I found him backstage, smoking furiously and fretting.

People would be surprised to see Simon's private anxiety before he performs in public. 

Everyone assumes he's always the super-confident persona we see on TV. But, one of the reasons he's so successful is because he worries so much about every tiny detail of what he does.

I walked out first. 'Wow... I haven't had an audience this big for months,' I said, to more laughs than felt comfortable.

Then I retold the story of how Simon first created the Got Talent format, the phenomenal success of which was one of the main reasons for his award.

We had lunch in 2005 and he casually announced he was going to bring back an all-round talent show. 

'There used to be loads of them like New Faces and Opportunity Knocks in England and The Gong Show in America. 

'Now there's nothing like it airing anywhere. I'm going to revive it with three judges, three buzzers and any act from dancing dogs to fire-eaters – and I want you involved.'

A month later, we filmed a pilot called Paul O'Grady's Got Talent with Simon, me and Fern Britton as judges – and delighted ITV bosses green-lit a full series straight away. But O'Grady then defected to Channel 4, so ITV shelved it. Simon persisted.

Six weeks later, he texted me to say he'd sold the rights to NBC in America. 

'I can't be on the panel because of my American Idol contract. So I need someone as arrogant and obnoxious as me and your name immediately sprang to mind.'

I flew out to LA and three months later, America's Got Talent launched to stupendous ratings.

'I feel like Dr Frankenstein,' Simon sighed when he saw me in my trailer on the Paramount movie lot.

Britain's Got Talent followed, and now, incredibly, Got Talent has been sold to 67 countries, making it officially the most successful entertainment programme ever. (The X Factor is not far behind.)

A giant map appeared on screen, with every part of the world where Got Talent airs coloured blue. 

'Most of the remaining white area is ocean,' I explained, 'where even Mr Cowell's tentacles cannot reach.'

'Yet,' he responded.

'But there is a massive white blob of land amid all the blue – Mongolia. Why have you never sold Got Talent to Mongolia, Simon?'

He stared at the screen in horror. 

'I didn't know that. You've just made me very unhappy.'

'Does Mongolia not have any talent?'

'Every country has talent. This is not good, I'm going to investigate the Mongolia situation as soon as this is over.'

Everyone laughed, but knowing how competitive Simon is, I could tell he was being deadly serious. 

At the end of an absorbing chat, I asked him to sum up his life and career. He pulled out his phone and read out a text he'd received that morning from Ella Henderson, the X Factor contestant whose debut album has shot to number one in the charts.

'As a little girl I had a dream. That was to sing, with my own music, in my own way. 

'Right now I have just released my very first debut album and you have no idea how much that means to me. 

'I know I couldn't have done any more and whatever happens from here I just have to say I'm so glad to finally share my music with the world and for you to be a part of this incredible process. 

'It really has felt special in every way and I don't ever wanna lose that! Here's to the beginning!! Ella Xxxx'

The crowd collectively 'aaahhhh'd'. 'That's why I do this,' Simon said.

Tonight, we partied with his girlfriend Lauren Silverman at a beach bar on the famous Cannes Croisette.

I looked at this man I've known for 25 years and reflected on an astonishing career in which he's sold 350 million records, produced two of the world's biggest TV shows, made a Scottish spinster called Susan Boyle a global superstar and created One Direction – one of the biggest pop bands in history.

Yet, he still wasn't happy.

And his misery wasn't just because he made me a star in America. 

'Mongolia's really bothering me,' he insisted.

At midnight, a Syco executive appeared. 

'I've got some breaking news,' he said. 'We just sold Got Talent to Mongolia.'

'Are you serious?' exclaimed Simon.

'One hundred per cent.'

A massive smirk broke across his face.


Tonight, Simon received his award at a glittering ball. 

Ella Henderson sang three songs (beautifully), then a video was played paying tribute to the guest of honour, featuring a host of big names including Oprah Winfrey, Rupert Murdoch, Harvey Weinstein, Pharrell Williams and David Cameron.

Simon walked up on stage, took a deep breath and to my astonishment choked up with tears.

'My life has changed so much for the better this year,' he sobbed, 'thanks to Lauren and my son Eric.'

He said a few thank yous, then the tears ran freely again. 'I just wish my dad was here to see this.'

He came back to our table and hugged Lauren – who was also crying. I have never seen him so emotional.

We even managed a rare moment of sincerity between the pair of us.

'I'm very proud of you, Simon,' I said.

'Thanks Piers,' he laughed, 'I can see you might even mean that!'

Link to article


ADB, Khan Bank Sign Loan Agreement to Boost Bank Financing For Mongolia's Small Businesses

MANILA, PHILIPPINES, October 17 (ADB) The Asian Development Bank (ADB) has signed a $40 million loan agreement with Khan Bank, one of the biggest banks in Mongolia, to provide better access to bank financing for the country's micro, small- and medium-sized enterprises (MSME).

The loan will be used to expand Khan Bank's MSME portfolio to 35% of its total loans by 2020 from 26% in 2013, helping to create jobs. Although Mongolia has grown quickly in recent years due chiefly to its large mining sector, the benefits of that growth have passed many people by, as only 4% of the labor force works in mining.

"The loan will help address critical challenges being faced by the MSME sector in Mongolia by making available at Khan Bank more loans for MSMEs with longer repayment terms," said Monisha Hermans, an ADB Investment Specialist. "The growth of MSMEs in non-mineral-based resource sectors will help diversify and strengthen the resilience of the country's economy."

Norihiko Kato, CEO of Khan Bank said: "We appreciate ADB's strong support for Mongolian MSMEs through Khan Bank which enables us to effectively use and finance our growing MSMEs portfolio both in existing and new clients. We are delighted of our continuing long term cooperation with ADB to diversify our long term funding and to boost our competitiveness in the Mongolian market."

MSMEs comprise 98% of all enterprises in Mongolia, with three quarters considered microenterprises. Only an estimated 10% of them regularly access financing through banks, which often focus their operations on top-tier and larger companies as they are perceived to be less risky.

Khan Bank, established in 1991, is Mongolia's largest bank in terms of total assets, loans and deposits. It has a strategic focus on the underserved MSME segment by offering products such as working capital, trade finance, and capital expenditure financing through electronic and mobile banking. It also has the largest branch network in rural areas.

Khan Bank is the second Mongolian bank to receive such a loan from ADB. In December 2013, ADB provided a $30 million loan to XacBank for MSME onlending.

Link to release

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President's Advisor Meets Reps of Leather Industry on Reducing Tuul River Pollution

Ulaanbaatar, October 17 (MONTSAME) An advisor to the President on Living Environment and Green Development Policy L.Erkhembayar met on October 16 with the authorities of the leather industry Association of Mongolia.

The visitors included a head of department of Light Industry Policy Regulation of the Ministry of Industry and Agriculture Ts.Bayarmaa, a president of the above Association B.Enkh-Amgalan, an executive director of the Association T.Bayarsaikhan, a member of the Board of the Association N.Altai, and a director of Mongol Chevron LLC Ts.Tumen-Ulzii.

The sides focused on ways of reducing a pollution of the river Tuul, purifying waste from leather entities, and discussed opportunities to relocate the leather manufacturers and water treatment facility "Khargia" from the city.

Link to article


Ulaanbaatar Mayor Supports JCI Mongolia's Bid to Host 2017 Asia-Pacific Conference

Ulaanbaatar, October 17 (MONTSAME) The Mayor of Ulaanbaatar E.Bat-Uul received October 16 a president of JCI (Junior Chamber International) for 2014 Shine Bhaskaran along with the members of JCI-Mongolia.

The president of JCI Mongolia S.Sainbat expressed intentions to organize the JCI Regional Congress for Asia and Pacific 2017 in Ulaanbaatar and asked the Mayor to run it together.

To this, the Mayor noted that JCI unites global young people of business and said that organized here the Asia-Pacific meeting may serve well for our country's development. He expressed a willingness to help by every possible means.

The president of JCI 2014 Shine Bhaskaran thanked the Mayor for his hospitality and presented activities of his organization. He was elected the president of JCI for 2014 during the 2013 JCI World Congress in Rio de Janeiro. Hr was was born in Natika of India, and majored in Hotel Management and Law. He is an executive director at companies Hotel Dreamland, Dreams Color Lab and Golden-Gate Tours and Travels. JCI is an active international organization that unites young leaders and business people on voluntary basis around the globe. The organization operates in four main fields: Business, Cooperation, Community and Individuals. As it has been participating actively in the operations of the UNICEF and the UNESCO, has obtained consulting status to the UN. JCI today has nearly 5000 branches operating in 120 different countries, and has 200 thousand active and some one million supporting members.

Link to article

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Next Europe-Asia summit to take place in July 2016 in Mongolia

Milan, October 17 (dpa) - Mongolia will host the next summit of European and Asian leaders in July 2016, the country's President Tsakhiagiin Elbegdorj said Friday, at the end of the Europe-Asia Meeting (ASEM) in Milan.

The ASEM brought to the northern Italian city 53 countries, representing more than half the world's gross domestic product and over 60 per cent of global population. Such summits have been held every other year.

Elbegdorj said he would preside over "a special anniversary summit," since it will mark 20 years since ASEM was launched. "During that time [of year], in my country we will have very cool, very nice weather," he added.

Mongolia, a landlocked country neighbouring China and Russia, is one of the fastest growing economies in Asia. The World Bank says it is on the cusp of "a major transformation driven by the exploitation of its vast mineral resources."

The two-day Milan summit, which was overshadowed by parallel talks on the Ukraine crisis, saw leaders pledge to boost cooperation on free trade, climate change, terrorism and other global challenges, such as the Ebola crisis in West Africa.

"Europe needs Asia's growth to jump-start its economy. Asia needs European markets, investment, technology," European Council President Herman Van Rompuy, who chaired the meetings, said in the final press conference.

Elbegdorj said Eurasian transport links were going to be strengthened.

"There will be more ships between our two continents, there will be more flights between our two continents, there will be more roads, more infrastructure, more railways. I think that is great news for you, for the people of Europe and Asia," he said.

Link to article


Mongolia to Host 11th ASEM Summit in Ulaanbaatar in 2016InfoMongolia, October 17


President Elbegdorj Addresses 10th Asia-Europe Summit

Ulaanbaatar, October 17 (MONTSAME) The leader of Mongolia took the floor to address all who gathered for the 10th ASEM summit on Thursday in Milan, Italy.

He congratulated the government of Italy for a successful hosting of the Summit and the Heads of State of Croatia and Kazakhstan for joining ASEM membership. "This summit is taking place at an uneasy time when the world is facing multiple challenges, including a spread of Ebola, regional confrontations and an increasing threat of terrorism.

"The 10th summit provides yet another opportunity for the leaders of its member states to discuss, exchange opinions and reach common grounds and positions on this matters of global significance. At the UN General Assembly in New York this September Mongolia expressed its position on climate change issues and called the world community for resolute actions to address them.

"Mongolia concurs that the 10th ASEM Summit shall help strengthen cooperation between the countries of Asia and Europe, boost trade, energy and investment relations and further promote sustainable development. Mongolia has been putting forward certain initiatives in these areas. For instance, in Dushanbe in September this year, Russia, China and Mongolia held a first Tri-Parties Highest Level Meeting, where their leaders agreed to strengthen cooperation in transit transport and infrastructure and eliminate barriers to trade. I do believe that strengthened cooperation between China, Russia and Mongolia shall make a tangible contribution to Asia and Europe even closer.

"Contributing to strengthening peace and stability in North East Asia is a priority of Mongolia's national security policy. Mutually trusting and confident dialogues between countries are an important cornerstone in our relations. In this conjunction, within the confines of the Ulaanbaatar Dialogue on North-East Asia Security I put forward some time ago, Mongolia has successfully hosted and organized the Meeting of North-East Asian Women-Parliamentarians, International Researchers' conference and the Meeting of the Governors of Cities of North East Asia.

"Once again, let me reiterate my confidence that the 10th ASEM Summit shall play a crucial role in expanding the scope and magnitude of Asia-Europe relations and cooperation," said the President Elbegdorj.

Link to article


President Elbegdorj meets German Chancellor Angela Merkel at ASEM Summit

October 17 ( President of Mongolia Ts.Elbegdorj met German Chancellor Angela Merkel following his speech at the opening for the 10th ASEM Summit in Milan, Italy on Thursday.

Chancellor Angela Merkel asked about the latest in Mongolian politics from Ts.Elbegdorj. She also congratulated and expressed support for Mongolia's bids to host the 11th ASEM Summit in Ulaanbaatar.

Both parties exchanged views on several issues. Particularly, the Chancellor noted opportunities to further bilateral cooperation on a coal gasification project.

The German Chancellor also emphasized that Germany's raw material imports from Mongolia has been decreased due to economic difficulty and pledges to encourage bilateral trade and economic cooperation between Mongolian and German businesses and organizations in the future.

The Chancellor also pledges to link SIEMENS group to Mongolian businesses.

Link to article


Ts.Elbegdorj Meets Chancellor of GermanyMontsame, October 17


Elbegdorj Meets French President Francois Hollande, Swedish PM at ASEM

Ulaanbaatar, October 19 /MONTSAME/ In frames of a participation in the 10th Summit of the Asia-Europe Meeting (ASEM) in Milan, the President of Mongolia Ts.Elbegdorj Friday met with his French counterpart Mr Francois Hollande.

The dignitaries emphasized that the bilateral economic cooperation in renewable energy, food and agriculture sector has been boosting, and expressed appreciated a contribution made by the two countries' private entities and companies.

The same day, Mr Elbegdorj received Mr Stefan Lofven, the Prime Minister of Sweden. The President noted that the 50th anniversary is marked of the establishment of diplomatic relations between Mongolia and Sweden and then said Mongolia is always ready to share with other countries its experiences in the democratic transition. 

Link to article


President Elbegdorj Starts Official Visit to Hungary

Ulaanbaatar, October 19 /MONTSAME/ After the 10th ASEM Summit in Milan, the President of Mongolia Ts.Elbegdorj arrived Friday in Budapest of Hungary to pay a working visit.

Mr Elbegdorj was welcomed by Mr Viktor Orban, the PM of Hungary, at the Parliament Palace, after which the bilateral meeting started. Mr Orban noted: "We are pleased to welcome Your Excellency President of Mongolia Tsakhiagiin Elbegdorj. We always love to hear good news about Mongolia, for instance, on rapid economic development of the country. Our nomad ancestors, who came here about 1,100 years ago, historically and spiritually related with Mongolians and the people of our countries remember about this".

He went on that "we should enhance our mutual cooperation in wide range of fields. Hungary has great potential in agriculture, engineering and technology sector".

A total of 72 Mongolian students are studying in Hungary, "we are ready to offer scholarships for Mongolian students if Mongolian side sends proposals. This year, the 64th anniversary is marked of the Mongolia-Hungary diplomatic relationship",  he said and added that the plan to re-open the Hungary's Embassy in Ulaanbaatar.

The leader of Mongolia Elbegdorj thanked Mr Orban for the warm welcome and said:"As You mentioned, our two countries enjoy a history and culture of many centuries. We also have a modern history of relations. Mongolian Biocombinat is a clear evidence that the two countries had a wide range partnership. We have ample opportunities for cooperation in livestock husbandry and animal health sphere. We are ready to collaborate with Hungary in food production, water factory, education, geology and tourism sectors. We should let graduates to practice and get working experiences".

The  parties also touched upon a wide range of issues of the cooperation.

After this, Mr Elbegdorj met with the President of Hungary Mr Janos Ader to run a private meeting. 

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Cabinet meeting approves Mongolia joining Asian Infrastructure Investment Bank as founding member and shareholder

October 17 ( Ambassador Ts.Sukhbaatar to the People's Republic of China receives mandate to sign on the Memorandum of Understanding between founding countries of the Asian Infrastructure Investment Bank.

The Asian Infrastructure Investment Bank was initiated by Chairman Xi during his visit to Mongolia and its importance lays on the solution of capital resource in the infrastructure sectors of the developing countries in the region, effective coordination of the capital and monetary flow and bringing acceleration in the regional development.

Government of People's Republic of China made proposal to Mongolia to become its founding member and the Cabinet Meeting approved such involvement. Draft of the Memorandum of Understanding of the Asian Infrastructure Investment Bank is composed and it will be signed by the representatives of founding countries on October 24. This signing will enable further contract building process and founders are planning that by the end of 2015, the bank will start its operation.

The bank establishment will add a new financial option for the Mongolian infrastructure and other sectors that require investment.

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Mongolia MPs Attend 131st Inter-Parliamentary Union Assembly

Ulaanbaatar, October 17 (MONTSAME) Members of the State Great Khural (parliament) Su.Batbold and G.Uyanga have taken part in the 131st Assembly of the Inter-Parliamentary Union (IPU) which ran October 12-17 in Geneva, Switzerland.

The Mongolian MPs met with their counterparts of Australia, Iceland and Mexico to exchange views on the bilateral relations and cooperation. They noted that agendas discussed at the IPU assembly, such as ensuring gender equality and ceasing violence against women, already have become global critical issues and that the IPU urges nations to take serious measures to tackle them.

They also took part in meeting of IPU's Steering Council, Standing committees on democracy and human rights, on peace and security, on human rights of parliamentarians, on UN affairs, on sustainable development on finance and trade.

A parliamentarian from Bangladesh Saber Choudhuri was elected the new president of the IPU.

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Photo News: Mongolia-China Friendship Memorial Unveiled on 65th Anniversary of Ties

October 17 ( In 2014, Mongolia and the People's Republic of China are celebrating the 65th anniversary of the establishment of diplomatic relations, moreover at the Cabinet meeting it was resolved to mark as the "Year of Mongolia-China Cultural and Art Exchange".

In the frames of celebration, the Ministry of Foreign Affairs of Mongolia hosted a banquet dedicated to the 65th anniversary and the unveiling ceremony of the Mongolia-China Friendship Memorial was also held in Ulaanbaatar on October 16, 2014.

At these ceremonies the Embassy staff headed by Ambassador Extraordinary and Plenipotentiary of the PR of China to Mongolia, Wang Xiaolong have participated.

The Friendship Memorial has been constructed under the "Beijing Street" Project established between the two Governments and the street from Mongolian University of Science and Technology to "Sansar" tunnel in Bayanzurkh District is under construction being developed by Beijing Construction Engineering Group, which anticipates to officially opening on October 27, 2014. The 60 million CNY project is implemented under grant aid from the Government of China.

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Mongolian Embassy in Brazil Hands Over First Birth Certificate

Ulaanbaatar, October 17 (MONTSAME) A newly opened Embassy of Mongolia to the Federal Republic of Brazil handed Friday a birth certificate to a newborn boy Dalai, whose mother is a Mongolian citizen D.Ganchimeg.  It was the first birth certificate to be handed by the Embassy.

The Ambassador Ch.Sosormaa appreciated that Ganchimeg registered her son to a Mongolia citizenship, although being married to a Brazilian. "I wish that this is practiced throughout the world that families of Mongolians register their kids as the Mongolians, as did Dalai's father Fabio Gonsalves da Silva and mother D.Ganchimeg," said the ambassador and wished the family all the best.

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A bridge between Switzerland and Mongolia

October 18 (swissinfo) Fifty years ago, Switzerland opened diplomatic relations with the then People's Republic of Mongolia. Ten years ago, it started development cooperation. The Swiss Agency for Development and Cooperation (SDC) is marking this double anniversary with a photo exhibition on what links the two countries – and what separates them.

Mongolia and Switzerland have more in common than you might think: wild, beautiful landscapes which cover a third of the country, an appreciation of tradition and culture, and a strong affinity with nature.

But there are also differences: unlike Switzerland, Mongolia is a poor country with a high proportion of young people. More than a quarter of the population lives below the poverty line – despite economic growth and a wealth of natural resources. It is one of the most sparsely populated countries in the world. Mongolians live under extreme climactic conditions: in the summer it is brutally hot, in the winter temperatures can drop to an icy -40 degrees.

For the past ten years Switzerland has been contributing to tackling poverty in Mongolia as part of a development cooperation programme. The Swiss are also supporting the process of building up a democratic society in this former Soviet satellite state, in the midst of a transformation.

The photography exhibition in Bern puts the two countries side by side, comparing Switzerland with a country 7,000km away.

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Social, Environmental & Other

Ganbold to Mohamed bin Hammam: Please find below bank account details of my daughter

October 18 (The Guardian) --

Football family: man of the week

Ganbold Buyannemekh, Mongolia's FA president, banned for five years for soliciting bribes – a result of the "Qatargate" email leak that upset Sepp in June: "We've seen what the British press has published … This discrimination and racism hurts. It really makes me sad."

      Ganbold's place in the email cache published by the Sunday Times: a 2011 message from his office to Qatar's Fifa-presidential candidate Mohamed bin Hammam. "President Ganbold's apologies for disturbing President Hammam when he is extremely busy with his election campaign … Ganbold would like to support him sincerely with his heart and mind ... Please, find below the bank account details of his daughter."

      The upside: Ganbold's story giving's Mongolia section a more rounded story arc: 1) 2011: "Mongolia committed to football's social role"; 2) 2012: "Mongolia paving the way to the future"; 3) 2014: "President of the Mongolian Federation banned for five years".

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Ulaanbaatar declares bid to host 2033 Winter Universiade

Ulaanbaatar, October 17 (MONTSAME) A note of understanding has been signed in Chinese Guang Zhou by the Mayor of Ulaanbaatar E.Bat-Uul and a president of FISU (International University Sports Federation) Claude-Louis Gallien on official nomination of Ulaanbaatar as the host of Winter Universiade of 2033.

The event ran in frames of the decision made by the city administration and the Student Sports Committee of Mongolia to operate and develop plans to run for a host-country of the tournament expected in 2033, at the initiative of the Mayor.  "An organization of the Winter Universaide in Ulaanbaatar is not a dream anymore. We can win the right if we can actualize our estimations, researches, conditions and opportunities," said the Mayor.

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Trailer: The Eagle Hunter's Son

© 2009 Sweden/Germany
Original Title: Örnjägarens son (Swedish), Die Stimme des Adlers (German)
In Kazakh/Mongolian with English subtitles
Recommended for ages 10+
Some bad language and mildly upsetting scenes.
Running Time: 87 min.


Unlike other Nomad boys his age, twelve year old Barzabai dreams of leaving his native Mongolian province for the city. Instead, his father, a famous eagle hunter, hopes Barzabai will follow in his footsteps. When Khan, his older brother is sent away to the city instead, Barzabai feels betrayed.

To cheer him up he is taken to the great Eagle Festival where the prize eagle, belonging to Barzabai's father is scared off by a photographer's camera flash and flies away. Barzabai decides to follow his father's beloved pet to capture him, and embarks on an adventurous journey through torrential rivers and snowy mountains that finally leads him to the city of his dreams. Along the way Bazarbai discovers that a happy life does not necessarily result from a departure from long-lasting traditions, but that tradition itself, deep respect for nature, friendship and loyalty form a strong unity despite constant outside threats.

In the vein of international hits such as 'The Weeping Camel', 'The Eagle Hunter's Son' conveys poetry, rough beauty and genuine wisdom that appeals to children and adults in the best sense of substantial, edifying family entertainment. Intimate yet powerful, this superbly well-crafted feature by Renè Bo Hansen is a thrilling and emotional story about redemption, reconciliation and resolution, shot in the sumptuous landscapes of Mongolia. (Some bad language and mildly upsetting situations) Ages 10+


2009 Golden Kite, Buenos Aires International Film Festival for Children and Youth
2009 Children's Jury Award, Open Doek Film Festival
2009 Winner Crystal Heart Award, Heartland Film Festival
2009 CIFFJ Award, Olympia Film Festival For Children And Young People (Greece)
2009 Official Selection, Berlin Generation K+
2009 Official Selection, Augsburg
2009 Official Selection, Zlin
2009 Official Selection, Carrousel Rimouski/CAN
2009 Official Selection, London IFF
2009 Official Selection, ICFFCY Nikosia/Cyprus
2009 Official Selection, Cinekid, Amsterdam
2009 Official Selection, Oulu
2010 Official Selection, Sprockets, Toronto
2010 Official Selection, Taipei/Taiwan
2010 Official Selection, Antwerp/Brugge
2010 Official Selection, Taiwan ICFF Taipei
2010 Official Selection, Nueva Mirada, Buenos Aires
2010 Official Selection, Kinodiseea, Bucharest
2011 Official Selection, Providence

Link to trailer


Mongolia: the must-see tourist destination no one is visiting

By Terrence Edwards

bne:Magazine – October 2014

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Mongolia: Nomads in Transition

New technology is helping to keep a traditional lifestyle alive on the Mongolian steppes.

By Hannah Reyes

October 16 (The Diplomat) Mongolia's vast steppe is home to one of the world's last surviving nomadic cultures. Situated between China and Russia, the Mongolian steppe remains mostly intact, and its nomadic way of life has been largely unchanged for generations. Some herding customs alive today pre-date the era of Genghis Khan. Slowly, however, the steppe's landscape is changing, as more and more of its nomadic population move to urban areas in search of education, employment, and modern conveniences. Indeed, modernity attracts not only those Mongolians who have moved to the city, but also those who have chosen to continue with their nomadic lifestyle.

Today the nomads who remain on the steppe combine old traditions with new means. They continue their lifestyle as pastoral herders, but many use motorbikes to herd cattle and horses. To move their homes, trucks have taken the place of ox carts. With the growing use of motorbikes and trucks, gas stations now begin to dot the landscape. Solar panels are becoming an addition to the traditional Mongolian home, the ger. The panels are a way for them to gain access to electricity without being confined to one place. The nomads use solar energy to power television sets, and to maintain the use of mobile phones, which, for parents, are the only way to stay in touch with their children attending boarding schools in the city. Mongolian children, whether from urban or rural backgrounds, conventionally study in the city. During the summer, children with rural family backgrounds return to the steppe to help their families maintain the herds, and some come back to live in the steppe after finishing their education.

With the rise of accessible technology, changes in lifestyle are almost inevitable. But these changes also help longstanding traditions thrive. Rather than abandoning their lives on the steppes, Mongolia's nomads are adapting to modernization in their own way. This culture in transition reaps the conveniences of modern society, while keeping an ancient and fascinating lifestyle alive.

Hannah Reyes is a photojournalist based in Phnom Penh.

Link to photo essay


Forward steppe

Breakneck economic growth has spawned a generation of Mongolians who are learning to savour their country's successes and excesses. Words and pictures by Marika Dee

October 19 (Post Magazine, South China Morning Post) ''It's all going so fast," sighs Gerelkhuu, a 26-year-old artist living in Ulan Bator, the capital of Mongolia. "We have to remember who we are and to be careful not to lose our soul. If we don't know who we are, we don't know where we'll go."

Over the past few years, Mongolia, a landlocked country sandwiched between Russia and China, has experienced unprecedented economic growth, driven by the breakneck development of its natural resources.

Half of Mongolia's 2.8 million people live in Ulan Bator, or UB, as it is known. And more than half of the national population are under the age of 30.

Almost 25 years after the democratic revolution that ended the communist era, when Mongolia was a satellite state of the Soviet Union, the country appears to be in a state of flux; its urban youth are searching for an identity while trying to balance the forces of globalisation with the preservation of tradition.

Link to photo article


Mongolia Yoga Retreat

October 13 (reclaimyourself) --

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6th Floor, NTN Tower
Baga Toiruu, Chingeltei District 1
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