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Monday, November 16, 2015
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Headlines in Italic are ones modified by Cover Mongolia from original
Mongolia Projects & Investment Summit Hong Kong 2015, The Peninsula Hong Kong, November 16-17
Latest Agenda: http://hongkong.mongoliainvestmentsummit.com/wp-content/uploads/sites/71/2015/11/Mongolia-PIS-HK-Brochure-10.11.15.pdf
Speaker Profiles: http://hongkong.mongoliainvestmentsummit.com/speaker/
TRQ closed -1.82% Friday to US$2.70
Connor Clark & Lunn Investment Management Sells More Than Half Its Stake in Turquoise Hill Resources
November 14 (Financial Magazin) Connor Clark & Lunn Investment Management Ltd decreased its stake in Turquoise Hill Resources Ltd. (NYSE:TRQ) by 57.48% based on its latest Q3 2015 regulatory filing with the SEC. Connor Clark & Lunn Investment Management Ltd sold 9.49 million shares as the company's stock declined 32.00% while stock markets rallied. The institutional investor held 7.02M shares of the precious metals company at the end of Q3, valued at $17.86 million, down from 16.52 million at the end of the previous reported quarter. Connor Clark & Lunn Investment Management Ltd who had been investing in Turquoise Hill Resources Ltd. since many months, could be less bullish the $5.52 billion market cap company. The stock decreased 1.82% or $0.05 on November 13, hitting $2.7. About 1.28 million shares traded hands. Turquoise Hill Resources Ltd (NYSE:TRQ) has declined 31.30% since April 14, 2015 and is downtrending. It has underperformed by 27.82% the S&P500.
Connor Clark & Lunn Investment Management Ltd, which manages about $26.75B and $12.32B US Long portfolio, upped its stake in Microsoft Corp. (NASDAQ:MSFT) by 970,654 shares to 1.92M shares, valued at $85.15 million in Q3, according to the filing. It also increased its holding in Rogers Comm Inc. Class B (NYSE:RCI) by 2.17 million shares in the quarter, for total 2.20 million shares, and risen its stake in Viacom Inc. Class B (NASDAQ:VIAB).
Connor Clark & Lunn Investment Management Ltd is a British Columbia, Canada-based institutional investor with more than $26.75 billion AUM in May, 2014. Taken from Connor Clark & Lunn Investment Management latest Adv, the fund reported to have 48 full and part-time employees. Among which 26 performing investment advisory and research functions. The institutional investor had more than 200 clients.
Turquoise Hill Resources Ltd. is an international mining firm focused on mining activities in Mongolia. The company has a market cap of $5.52 billion. The Company's principal and only material mineral resource property is the Oyu Tolgoi copper-gold mine in southern Mongolia. It has 21.56 P/E ratio. The Oyu Tolgoi Mine is approximately 550 kilometers south of Ulaanbaatar, Mongolia's capital city, and 80 kilometers north of the Mongolia-China border.
Prophecy Closes $250,000 First Tranche of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 13, 2015) - Prophecy Development Corp. ("Prophecy" or the "Company") (TSX:PCY)(OTCQX:PRPCF)(Frankfurt:1P2) announces that it has closed the first tranche of the $1,000,000 non-brokered private placement announced on November 12, 2015 (the "Placement").
The first tranche of the Placement raised gross cash proceeds of $250,000 through the issuance of 6,250,000 units of Prophecy. Each unit is comprised of one Common share and one Common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional Common share of the Company at an exercise price of $0.07 for a period of five years from the closing of the Placement.
The Warrants will be subject to the following acceleration conditions:
I. in the event that the closing price of the Common shares trading on the Toronto Stock Exchange exceeds $0.15 per Common share; or
II. the closing spot price of silver as quoted by KITCO Metals Inc. exceeds USD$25.00 per ounce,
in either instance, for a period of over 30 consecutive calendar days, at Prophecy's election, the exercise period may be reduced in which case, Warrant holders will only be entitled to exercise their Warrants for a period of 30 days from the date the Company either disseminates a press release or sends written notice to the Warrant holders advising them of the reduced and accelerated exercise period after which, the Warrants will expire.
Company management and directors subscribed for 2,500,000 units of the Placement in the first tranche.
The Company paid in cash, finder's fees totaling $10,500 and issued 262,500 finder's Common share purchase warrants which are exercisable at a price of $0.07 for a period of two years from the closing of the Placement and are subject to the same acceleration conditions as the Warrants.
MSE Trading Report: Top 20 +0.79%, Turnover ₮12 Million Stocks
November 13 (MSE) --
Historic low ₮1,997.26/USD set September 11
BoM MNT Rates: Wednesday, November 11 Close
| | 11/13 | 11/11 | 11/10 | 11/9 | 11/6 | 11/5 | 11/4 | 11/3 | 11/2 | 10/30 | 10/29 | 10/28 | 10/27 | 10/26 | 10/23 |
| USD | 1,989.53 | 1,993.09 | 1,992.84 | 1,992.79 | 1,992.09 | 1,993.15 | 1,992.52 | 1,992.84 | 1,992.09 | 1,991.67 | 1,990.43 | 1,992.12 | 1,991.30 | 1,993.26 | 1,991.70 |
| EUR | 2,143.62 | 2,141.38 | 2,144.10 | 2,144.94 | 2,166.10 | 2,159.78 | 2,179.82 | 2,196.91 | 2,200.46 | 2,188.55 | 2,174.54 | 2,200.89 | 2,200.59 | 2,201.46 | 2,212.68 |
| GBP | 3,026.67 | 3,022.72 | 3,010.09 | 3,003.53 | 3,026.98 | 3,065.86 | 3,074.06 | 3,076.94 | 3,074.89 | 3,054.43 | 3,038.39 | 3,048.24 | 3,055.25 | 3,055.37 | 3,068.31 |
| RUB | 29.83 | 30.87 | 30.92 | 30.88 | 31.26 | 31.40 | 31.74 | 31.24 | 31.24 | 30.89 | 31.04 | 30.46 | 31.37 | 31.89 | 32.14 |
| CNY | 312.13 | 313.15 | 313.31 | 313.31 | 313.61 | 314.10 | 314.45 | 314.55 | 314.22 | 314.95 | 313.12 | 313.38 | 313.42 | 313.81 | 313.20 |
Bank rates at time of sending: TDB (Buy ₮1,988 Sell ₮1,996), Khan (Buy ₮1,986 Sell ₮1,995), Golomt (Buy ₮1,984 Sell ₮1,994), XacBank (Buy ₮1,988 Sell ₮1,995), State Bank (Buy ₮1,986 Sell ₮1,995)
MNT vs USD (blue), CNY (red) in last 1 year:
Mongolia's Jan.-Sept. GDP Growth Slows to 2.5%, NSO Says
By Michael Kohn
November 13 (Bloomberg) -- Mongolia's gross domestic product expanded 2.5% in Jan.-Sept. according to preliminary data released Friday by the National Statistical Office.
* GDP by production was 11.38t tugrik ($5.7b) at 2010 constant prices
* NOTE: Mongolia's economy grew 7.7% in the same period a year ago and 12.7% in the same period in 2013
* NOTE: In its November economic outlook update, the Asian Development Bank forecast Mongolia's 2015 GDP growth to be 2.3%, reflecting the impact of drought-affected harvests on the economy.
* Link to data source: http://goo.gl/5tgjnc
(BFW)
Mongolia Jan.-Oct. Principal in Arrears Rises 91% Y/y, NSO Says
By Michael Kohn
November 13 (Bloomberg) -- Mongolia's principal in arrears totaled 860.8b tugrik at the end of Oct., a 91% increase y/y, according to data released Friday by the National Statistical Office.
* Mongolia's total revenue and grants to the general budget in Jan.-Oct. were 4.6tr tugrik compared with total expenditure of 5.5tr tugrik, a revenue shortfall of 915.3b tugrik ($459.4m)
* Household average monetary income per month was 937,700 tugrik, a decrease of 2.6% compared with the same period a yr ago
* October CPI +3.4% y/y, +1.9% year-to-date
* Non-performing loans totaled 855.5b tugrik at end-Oct., a 2.2% increase m/m and 41.1% increase y/y
* Tax revenue decreased 206b tugrik or 5% y/y
* Total external trade in Jan-Oct. fell 21.9% y/y to $7.1b, a drop of $2b
* Exports fell $677.8m or 14.7% and imports plunged $1.3b or 29.3% compared with the same period a year earlier
(BFW)
Mongolia Sees Negative US$42.4 Million FDI in September, Jan-Sep -97.1% to US$15.9 Million
November 13 (BoM) Current account deficit stands at US$ 412.7 million, decrease of US$ 1051.6 million or 72percent compared to the same period of the previous year. The change is due to (i) improvement of trade in goods by 198 percent with surplus of US$ 950.0 million; (ii) decline of deficit on trade in services by 48 percent to US$ 632.9 million; whereas (iii) widening of income account deficit by 23 percent to US$849.4 million and (iv) fall of current transfer by2 percent to US$ 119.6 million.
Capital and financial accounts showed surplus of US$ 345.3 million, decrease of US$ 506.5million or 59 percent from the previous year which is mainly affected by decline of net foreign direct investment in Mongolia by 98 percent or US$ 516.3 million from a year prior.
Detailed information
· Balance of Payment for first 9 months of 2015
· Balance of Payment for first 3 quarters of 2015
Inflation in Mongolia Falls to 3.4% in October, 1.9% in Ulaanbaatar
November 13 (BoM) --
National | Ulaanbaatar | ||||||
Monthly | YTD | Annual | Monthly | YTD | Annual | Core | |
2015/10 | -0.7 | 1.9 | 3.4 | -1.1 | 0.8 | 1.9 | 4.8 |
2015/09 | -0.8 | 2.6 | 4.9 | -0.9 | 1.9 | 3.9 | 6.1 |
2015/08 | 0.1 | 3.4 | 6.6 | 0.1 | 2.8 | 5.9 | 7.2 |
2015/07 | 0 | 3.3 | 6.9 | 0.1 | 2.7 | 6.6 | 7.3 |
2015/06 | -0.1 | 3.2 | 7.3 | 0.1 | 2.6 | 7.1 | 9.6 |
2015/05 | 0.4 | 3.3 | 8 | 0.1 | 2.5 | 7.5 | 10.2 |
2015/04 | 0.9 | 2.9 | 9.2 | 0.8 | 2.4 | 8.8 | 11 |
2015/03 | 0.8 | 1.9 | 9.3 | 0.8 | 1.5 | 8.8 | 11.9 |
2015/02 | 0.4 | 1.1 | 9.3 | 0.2 | 0.7 | 8.5 | 12 |
2015/01 | 0.7 | 0.7 | 9.8 | 0.5 | 0.5 | 9.3 | 12.3 |
2014/12 | 0.8 | 11 | 11 | 0.6 | 10.7 | 10.7 | 12.6 |
2014/11 | 0.7 | 10.1 | 11.5 | 0.6 | 10.1 | 11.9 | 13.6 |
2014/10 | 0.8 | 9.3 | 12.1 | 0.8 | 9.4 | 12.7 | 14.1 |
BoM buys 2,674 kgs of gold in October, 12.87 tons YTD
November 13 (BoM) --
Date | Month | YTD | Yearly Change |
2015/10 | 2674.0 | 12870.7 | 2137.4 |
2015/09 | 2793.5 | 10196.7 | 1444.2 |
2015/08 | 1993.8 | 7403.2 | 391.8 |
2015/07 | 1647.6 | 5409.3 | 1.5 |
2015/06 | 1344.1 | 3761.7 | -335.4 |
2015/05 | 895.4 | 2417.6 | -663.1 |
2015/04 | 536.7 | 1522.2 | -530.0 |
2015/03 | 287.0 | 985.5 | -680.3 |
2015/02 | 218.4 | 698.5 | -801.1 |
2015/01 | 480.1 | 480.1 | 224.3 |
2014/12 | 920.8 | 12704.7 | 6662.8 |
2014/11 | 1050.6 | 11783.8 | 6043.9 |
2014/10 | 1980.8 | 10733.3 | 5467.4 |
BoM issues ₮143 billion 1-week bills at 13%, total outstanding +11.25% to ₮563.45 billion
November 13 (BoM) BoM issues 1 week bills worth MNT 143 billion at a weighted interest rate of 13.0 percent per annum /For previous auctions click here/
Copper Drops to Six-Year Low as Metal Losses Accelerate on China
· Glencore shares slide below a pound for first time in a month
· Noble Group predicts metals prices will decline in quarter
November 13 (Bloomberg) Copper fell to the lowest in six years as losses deepened across the London Metal Exchange on concerns over a stronger dollar and weakening demand in China, the world's biggest consumer.
China's broadest measure of new credit slumped to the lowest in 15 months in October, adding to evidence that interest-rate cuts have yet to spur a sustained pickup in borrowing. The economy is expanding at the slowest in a quarter century. The Bloomberg Dollar Spot Index traded near the highest since 2005, sapping the appeal of commodities as alternative assets. Mining companies tumbled, with Glencore Plc falling as much as 13 percent.
"There are definitely worries over demand, particularly from China, and traders are also concerned about the potential for a stronger dollar to hurt commodities in general," Daniel Briesemann, an analyst at Commerzbank AG, said by phone. "There is a very bad mood among market players. They are ignoring the fundamentals and just hitting the price."
Copper for delivery in three months sank as much as 2.9 percent to $4,800 a metric ton ($2.18 a pound), the lowest since July 2009. Prices settled at $4,823.50 at 5:50 p.m. in London, or 2.4 percent lower. Aluminum, tin, lead, zinc and nickel also declined on the LME.
Noble Group Ltd. said demand weakness continued to weigh heavily on prices and premiums across non-ferrous metals including zinc, copper and lead. The commodity trader expects prices to keep falling during the quarter.
Glencore shares dropped below a pound for the first time in a month. The company is the worst performer in the U.K.'s FTSE 100 Index, with a 68 percent drop this year after a rout in raw-materials prices cut profits and focused investor attention on its $30 billion in debt. Freeport-McMoRan Inc. fell as much as 7.6 percent in New York trading.
Copper futures for December delivery dropped 2.1 percent to $2.1725 a pound on the Comex in New York.
ADB Supports Mongolia's Drive to Boost Food Safety, Exports
ULAANBAATAR, MONGOLIA, November 13 — The Asian Development Bank (ADB) has approved a $15 million loan to support Mongolia's efforts to continue strengthening food safety and animal and plant health standards to realize the country's vast potential by increasing agri-food exports to neighboring countries.
"The country has an estimated 52 million head of livestock, which are a key source of employment and income for the rural population," said Cristina Lozano, an ADB Regional Cooperation Specialist. "But gaps in sanitary and phytosanitary standards have limited the country's ability to take advantage of demand for meat, milk, and other animal products from neighboring countries in Central Asia, as well as the People's Republic of China and the Russian Federation."
The government has significantly improved its sanitary and phytosanitary system over the past decade but challenges remain. Testing laboratories lack modern facilities, equipment and skilled personnel, and information technology is not widely used. As a result, food safety and animal and plant health measures are not well harmonized with international standards, hampering Mongolia's export potential.
This project will help the Government of Mongolia continue developing internationally acceptable agri-food handling, inspection and testing measures that will allow it to boost exports and provide job and income opportunities in rural areas.
The project will target improvements in laboratories in three provinces served by the Central Asia Regional Economic Cooperation (CAREC) corridor which links border crossing points critical to the movement of agricultural and food products between the Russian Federation and East Asia. The improvements will include infrastructure and equipment upgrades, and the adoption of a laboratory information management system to manage samples and analysis. Assistance will be given to establish a sanitary and phytosanitary inspection management system that will incorporate risk-based import controls to automate risk assessement.
Support will also be given to align testing and sampling methodologies with World Trade Organization-compliant international standards to reduce inspection and testing-related delays, and to gain international acceptance.
The project will allow Mongolia to take the lead in promoting sanitary and phytosanitary reforms across the CAREC region. ADB has been supporting regional efforts to develop and align modern, uniform food safety and animal and plant health standards, through a separate regional technical assistance project.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region. In 2014, ADB assistance totaled $22.9 billion, including cofinancing of $9.2 billion.
The Importance of Supporting Exports
November 13 (Mongolian Economy) The main reason for developing the manufacturing industry is to displace imports and boost exports. Economists agree that focusing solely on import substitutive industries leaves many other aspects of development unconsidered. The biggest example of this is the experience of Latin American countries, which developed import substitutive industries as a top priority in the 1970s, but industry's share of GDP declined. During the 2000s, industrial output as a share of GDP had about four percent growth, but has entered negative territory recently. Many countries in the region have fallen into debt by administering an import substitutive policy as a top priority.
But on the other side of the globe, East Asian countries implemented export supportive policies and programmes. Today, South Korea, Japan, and Hong Kong have already stepped into the ranks of developed countries, and China is getting ever closer. The import substitutive policy's downside is that it undermines manufacturers' ability to compete on international markets, because manufacturers come to expect protection and become uninterested in innovation as they have no competition. In the end, the consumers are the ones who suffer by buying more expensive products.
However to protect domestic markets, East Asian countries set a prerequisite that required manufacturers to export their products, which allowed them to maintain success for a considerable amount of time. For example, South Korea increased the import tariffs on vehicles from countries with which it had no trade agreement to 20.4 percent in order to protect its domestic automotive industry. In turn, the government told manufacturers to produce attractive, high quality vehicles that would appeal to western consumers. The country's automotive manufacturers that abided by this framework started to make frequent technological innovations and always looked for opportunities to sell their products on international markets.
However, the production of import substitutive goods also has its advantages. This type of production can develop fast. Notable Mongolian economist B.Dulguun said it increases total factor productivity. Total factor productivity is the portion of output not attributable to the amount of inputs used in production. As such, its level is determined by how efficientlyand intensely the inputs are utilised in production. Technological developments and productivity are the key factors that determine this variable.
The state industrial policy was approved and is to be implemented in three phases based on the above-mentioned experiences.
The first phase will support import substitutive goods which can also be exported. The second phase will boost only export-orientated products, and the third phase will establish specific knowledge-based industrial elements. By cultivating knowledge-based industries, Mongolia aims to export domestically-produced technological products abroad instead of importing foreign technologies.
The foreign trade balance, which has been running deficits for many years, has has turned positive from the same period of the previous year. However, we must pay attention to what we are purchasing and what we are exporting. If Mongolia were an industrialised country, it would buy cheap raw materials from abroad and produce value-added products to sell it at a price several times higher. But the situation is the other way around: we are still supplying cheap raw materials and buying expensive finished products.
Originally, the "Export promotion programme" was approved in 1998 by government decree number 158. "The programme's purpose to promote export-orientated production and development, heavily process mineral and agricultural raw materials to increase export products," it stated. At the time, mining and agricultural raw materials and semi-processed products dominated export goods. In 1997, 55.9 percent of net exports was mineral raw materials, and 22.5 percent was textile products.According to the programme's documents, 57.2 percent of the total products were raw materials. But today this figure is almost 90 percent.
On one hand this number indicates how committed Mongolians are to their policies. In any case, the "State Industrial Policy" has been approved by parliament. The government has developed the strategy to implement the policy. However, will this programme remain just a piece of paper similar to what happened 18 years ago?
There is the fear that this policy will be forgotten in the archives when the next government takes over. Many experts of the Ministry of Industry who participated in the development of this policy have this fear. Minister of Industry D.Erdenebat said perhaps succession of the state policies should be legislated. If Mongolia indeed wants to become an industrialised country, legislating this issue might be one of the prudent first steps that needs to be taken, if history has taught us anything.
Head of Erdenes TT Labor Union Sets Himself on Fire
November 13 (GoGo Mongolia) Head of Labor Union of Erdenes Tavan Tolgoi JSC S.Erdene set himself on fire during press conference which was held at National Information Center today.
He protested against Erdenes Tavan Tolgoi's statement to discharge 30 employments at first stage and to discharge 200 employments in December. He poured a bottle of liquid upon his body and burned himself.
Journalists attending in the press conference called an ambulance and he was carried to National Trauma and Orthopedic Research Center.
Right now he is being treated at Department of Burn Rehabilitation and his health condition is stable.
In regards to this case, authorities of Erdenes Tavan Tolgoi to hold a press conference at 05PM today.
Link to video (video is disturbing)
Erdenes TT Acting CEO Dismissed After Union Leader Sets Himself on Fire
Ulaanbaatar, November 13 (MONTSAME) "It was a tragic action that S.Erdene, the chairman of Board of "Solidarity" Labor Union and a personnel of Erdenes Tavantolgoi, attempted a self-emmolation protesting a structural and management change in the company", said the Minister of Mining R.Jigjid at a press conference on Friday.
PM Ch.Saikhanbileg summoned related officials on this matter and obligated them to take immediate actions. He assigned that acting Minister of Health and Sports and the deputy PM Ts.Oyunbaatar take care of the health conditions and treatment of S.Erdene. The Premier gave a direction that it is only appropriate that Erdenes Tavantolgoi incurred charges for his treatment and aftercare.
"Associated authorities have been obligated to promptly settle the current circumstances in accordance with the regulations. In regard to this, a decision was made to dismiss the executive director of Erdenes Tavantolgoi JSC B.Batbileg and to appoint its director for legal matters T.Bilgee to acting director's position", said the Mining Minister.
Parliament Agenda for Nov 13: Standing Committees, Plenary Session on 2016 Budget
November 13 (gogo.mn) Standing Committee meeting and plenary session are scheduled for today.
ONE. STANDING COMMITTEE MEETING:
1. Budget Standing Committee meeting at 09AM:
Agenda:
· Draft law on 2016 State Budget, budget law for 2016 Social Insurance Fund, budget law for 2016 Human Development Fund
· Operation report for 2016 of the Mongolian State Budget, Amendments to draft law on 2017-2018 budget adjustment;
· Amendments to law on administrative, territorial unit and its administration, amendments to draft law on state and local property
2. Economic Standing Committee meeting at 09AM:
Agenda:
· Draft Resolution of State Great Hural on Approval of 2016 Monetary Policy Directions
TWO. PLENARY SESSION MEETING:
At 2PM:
· Draft Resolution of State Great Hural on Approval of 2016 Monetary Policy Directions
· Operation report for 2016 of the Mongolian State Budget, Amendments to draft law on 2017-2018 budget adjustment;
· Draft law on 2016 State Budget, budget law for 2016 Social Insurance Fund, budget law for 2016 Human Development Fund
· Amendments to law on administrative, territorial unit and its administration, amendments to draft law on state and local property
Cabinet to Submit Bills on Customs, Tax, Bank, State Structure for Immediate Discussion
Ulaanbaatar, November 13 (MONTSAME) The cabinet of Ministers held Friday an irregular meeting to discuss about submitting series of draft documents to parliament, regarding legal statuses of customs and tax authorities, along with other issues.
The Ministers decided to submit draft amendments to the law on legal statuses of general authorities of customs and taxation, to the General Tax Law and the Law on Customs, draft additions to Law on Bank, and draft amendments to the parliamentary resolution on revising the State Body Structures and General Schemes, for immediate readings, along with the discussions on 2016 State Budget.
They also resolved to withdraw the bill on legal status of the National Revenue Authority and related-to-it drafts.
The draft amendments by O.Baasankhuu MP to the Law on Parliamentary Election and the Law on Political Parties received approvals from the Ministers in terms of principles.
GIA Arrests Two Border Patrol Colonels Over Possible Leak of State Secrets
November 13 (news.mn) The Investigation Bureau at the General Intelligence Agency of Mongolia has commenced a probe into the activity of colonels "A" and "D" of the Border Intelligence Agency. "Currently, the investigation under way, therefore no additional information can be provided," an official source reported. The colonels might have revealed state secrets. They were arrested on 10th November.
Khan Bank Hosts Compliance Forum with Mongolian Bankers Association
November 13 (Khan Bank) Khan Bank, under the auspices of Bank of Mongolia and jointly with the Mongolian Bankers Association, successfully organized "Compliance Forum 2015" on November 11, 2015.
The event drew representatives from commercial banks, regulators, nongovernmental organizations, non banking financial institutions and International Development organizations.
"Compliance" covers critical matters including adherence to laws and regulations, aligning of internal policies and rules with the law, prevention and mitigation of associated risks, fair treatment of customers, prevention of financial crimes and implementation of Corporate Social Responsibilities.
Khan Bank has been upholding transparent and fair practices, in compliance with regulations, in all aspects of its operation. Therefore, the bank is serving as the organizer of this industry event to raise awareness on the importance of compliance.
During the event, "Advisory Note on Compliance Policy and Functions in Banks" were presented, in addition to discussion on key challenges faced by banks and financial institutions in the area of compliance.
Other issues discussed during the Forum included international sanctions, Foreign Account Tax Compliance Act of USA, upcoming mutual evaluation on anti-money laundering and counter terrorism financing system in Mongolia from Asia Pacific Group against Money Laundering. Those are crucial matters to help enhance the banking and financing sector through introduction of international standards and best practices.
Khan Bank Announces Search for Independent Director
November 5 (Khan Bank) The shareholders of Khan Bank, one of the leading/largest banks in Mongolia, have initiated a search for potential candidates to join the Board of Directors of the Bank as an Independent Director. The new independent director will join the current Board of Khan Bank, composed of seven members of which two are independent. The expansion of the Board is part of Khan Bank's continuing commitment of good corporate governance to foster the confidence of its stakeholders.
This notice is made in accordance with Article 33 of the Banking Law of Mongolia and "The Regulation for Nominating, Appointing and Releasing Independent Member of the Board of Directors of a Bank" amended by the joint directive no. A-42/34/49 issued by the Governor of Bank of Mongolia, Minister of Finance and Commissioner of Financial Regulatory Commission. A full description of the legal and regulatory requirements is available on please click here.
Qualified individuals are encouraged to submit a letter of interest accompanied by the necessary documents listed below to Khan Bank's Corporate Secretary by 17:00 pm, November 23, 2015 at Khan Bank's Head Office, Seoul Street-25, PO.BOX-192, Ulaanbaatar - 14250, Mongolia.
ELIGIBILITY CRITERIA FOR APPLICANTS:
In addition to the eligibility criteria for members of the Board of Directors specified in the Article 79 of Company Law and Article 32.1 of the Banking Law, candidates for the Independent Director of Khan Bank shall meet the following criteria in accordance with Article 33.3 of Banking Law and Annex 1 of the "The Regulation for Nominating, Appointing and Releasing Independent Member of the Board of Directors of a Bank":
…
ASEM-certified hotel workers will receive hospitality service training
November 13 (gogo,mn) Hospitality service workers from hotels, where delegates of ASEM SUMMIT 11 will stay, will receive a professional in field training.
The training is going to be financed by Employment Support Fund of Ministry of Labor.
MOU in regards to the training will be signed today, to be attended by Minister of Labor G.Bayarsaikhan, Head of working group in charge of accommodation and hotels at ASEM P.Tsagaan and other officials.
Related:
Service people for ASEM Summit to be trained – Montsame, November 13
Hungarian Exim Bank to Finance Water Park in Ulaanbaatar
November 13 (gogo.mn) In the frame of "Friendly Ulaanbaatar" program, Ulaanbaatar City Administration, Mongol Shiltgeen joint venture and Hungarian-based Bagg LLC have agreed to cooperate on the establishment of Water Park with the theme of amusement and tourism complex.
Then, City Governor and Mayor E.Bat-Uul and Board Director of Mongol Shiltgeen Ch.Amarbaatar signed on MOU.
Total amount of the investment for the project is USD 20 million as the park is expected to boost tourism, support local business entities, ensure safety of tourists, and bring world-standard services.
Hungarian EximBank will invest into the project, which will be implemented as the expansion of Mongol Shiltgeen complex.
The Water Park complex is going to be functional for four seasons, with hotel complex, sport and entertainment complex, theatre, shops, and various eateries.
Press and Media Department of Ulaanbaatar City Administration.
Joint Statement Issued on Deepening Mongolia-China Comprehensive Strategic Partnership
Ulaanbaatar, November 13 (MONTSAME) In frames of the state visit of Mongolia's President to the People's Republic of China (PRC) on November 9-11, the two countries have released a joint statement on progressing the bilateral comprehensive strategic partnership, in Beijing.
By the joint statement, which has five basic chapters, the sides exchanged views and reached some agreements on the bilateral relations and cooperation in friendly atmosphere, international and regional issues.
The parties expressed the mutual satisfaction with widening of the bilateral comprehensive strategic partnership relations, and noted that new opportunities exist within the ties thanks to deepening of the mutual political trust and widening of the economic cooperation, humanitarian exchanges.
In accordance with an ideology of the Mongolia-China Treaty of Friendly Relations and Cooperation adopted in 1994, the countries will keep making efforts to boost their ties. They said the Joint Declaration of Comprehensive Strategic Partnership Ties issued last year designed directions of future development of the relations and opened new a chapter of the Mongolia-China relations.
With efforts of the sides, the bilateral cooperation and exchanges have been realized in all spheres under the joint Declaration, and the Mongolia-China relations are running on their best moment. Forwarding of the Mongolia-China comprehensive strategic relations is accorded with interests of the people and will contribute to the global and regional peace and stability, the statement says.
The sides reaffirmed that a boosting of the bilateral friendly relations and cooperation is one of the priorities and strategic directions of their foreign policies, and emphasized that the two countries will respect each other's way of development under principles of essential interests such as the sovereignty and territorial integrity. Exploiting their advantages including the bordering of the countries and complementary situation of the economic ties, the two countries will steadily forward exchanges and cooperation in all sectors and will serve for all the best of the two countries' peoples.
In the political relations, the countries will continue developing their friendly cooperation pursuant to fundamental principles of the 1994 Treaty on Friendly Relations and Cooperation and the 2014 Joint Declaration on Comprehensive Strategic Partnership Relations.
China's side affirmed that it will respect the independence, sovereignty, and territorial integrity of Mongolia, as well as developmental way chosen by Mongolian people and Mongolia's nuclear weapon-free status. The Mongolian side affirmed that it will back China's positions over the policies on Chinese Taipei, Tibet and Xinjiang, maintaining the "One China" policy.
The sides will also strengthen the ties between the legislative bodies, the governments and political parties, and concurred to continue a mechanism of the strategic talks between the Foreign Ministries in order to deepen mutual trust and strategic conjunctions and to contribute to development of the ties in all sectors.
The sides also will boost the cooperation in defense, combating terrorism and trans-boundary crimes, drugs trafficking, and will fortify the collaboration between localities.
Within the trade and economic cooperation, the countries reaffirmed that an expanding of the win-win cooperation in the trade, investment, and economic spheres is a pillar of the bilateral comprehensive strategic partnership ties. In frames of the middle-term programme on developing the trade and economic cooperation, the countries agreed to promote concrete cooperation, to improve a structure of trades and to augment investments.
The countries will realize a goal to make the trade turnover reach USD 10 billion by 2020. They also reached agreements on realizing big projects for supporting the economic ties, facilitating commerce, construction of new infrastructure, running exhibitions, border cooperation, civil aviation, tourism, agriculture and animal husbandry such as supplying meat to China and developing transit transportation between Asia and Europe through territories of Mongolia.
In addition, China's side will support Mongolia in using sea ports in northern and northeastern coasts of China to attend external trades, taking into account a landlocked situation of Mongolia.
The countries have agreed to cooperate in realizing several works in environment, ecology, education, culture, sport, humanity and health. For example, they affirmed their aspiration to support the connections in the above sectors and to expand the ties in sport and media.
Mongolia thanked the government of China for giving scholarships to Mongolian students to study in China's universities and institutes, and congratulated China on winning bids for hosting the 2022 Beijing Winter Olympics and 2022 Hangzhou Asian Games.
The countries will strengthen cooperation in reducing damages of desertification, climate changes, natural disasters, combating forest and steppe fires, utilization and saving water sources.
In frames of the international and regional cooperation, the sides will continue to maintain their tradition of cooperation in international and regional acts. They will continue their cooperation in unified interests within a multilateral mechanism such as the United Nations, ASEM, ASEAN Regional Forum, SCO and the "Great Tumen" Initiative.
The parties will collaborate in the regional stability and security, the global peace and justice by keeping their tradition exchanging information concerning the biggest issues such as reforms of UN Security Council.
The sides will strengthen the connections and regulations for peace and security and developmental activities in Northeast Asia. The Mongolian side will back China's efforts to resume a course of the Six-Party Talks, whereas the China's side will support the "Ulaanbaatar Talks" initiative about security in Northeast Asia by the President of Mongolia.
Mongolia expressed thanks to China's government for supporting Mongolia in hosting the 2016 ASEM Summit and invited China's high level authorities to participate in the forthcoming Summit.
The countries concluded that the state visit of the Mongolian President to China was fruitful in terms of deepening the bilateral comprehensive strategic partnership relations.
Mr Elbegdorj thanked his Chinese counterpart for the warm audience and invited him to visit Mongolia again. Mr Xi thanked the Mongolian President for the invitation.
List of 11 Agreements Signed During President's Visit to China
November 13 (news.mn) --
1. Inter-Governmental Agreement on Economic and Technical Cooperation. (Mongolian Minister of Foreign Affairs, L.Purevsuren and Chinese Minister of Commerce, Gao Hucheng)
2. Exchanging Project Documentation (regarding X-Ray Equipment), which will be implemented in 2016 with a non-repayable subsidy of CNY 300 million by the Chinese Government. (Mongolian Ambassador to China, Ts.Sukhbaatar and Chinese Minister of Commerce Gao Hucheng).
3. Exchanging Project Documentation (regarding forest fires), which will be implemented in 2016 with the non-repayable subsidy of CNY 300 million by the Chinese Government. (Mongolian Ambassador to China Ts.Sukhbaatar and Chinese Minister of Commerce Gao Hucheng).
4. Memorandum of Understanding (MoU) regarding trade and economy between the Mongolian Ministry of Industry and the Chinese Ministry of Commerce. (State Secretary at the Mongolian Ministry of Industry D.Nyamkhuu Chinese Minister of Commerce Gao Hucheng).
5. General Agreement regarding the provision of USD 1 billion loans between the Mongolian Government and the Export-Import-Bank of China. (Mongolian Minister of Foreign Affairs L.Purevsuren and Vice President of the Export-Import-Bank of China Liange Liu).
6. Contract regarding the Technical and Economic Feasibility Study of the Shivee-Ovoo between the Mongolian Ministry of Energy and State Grid Corporation of China. (Mongolian Minister of Energy, D.Zorigt and the Executive Vice President of State Grid Corporation of China, Shu Yinbiao).
7. Agreement of the special loan on a bridge exit road, which will be built next to the Traffic Police Authority. (Mongolian Ambassador to China Ts.Sukhbaatar and Vice President of the Export-Import-Bank of China Liange Liu).
8. Agreement on a special loan to build a new bridge in Yarmag and repair the old bridge. (Mongolian Ambassador in China Ts.Sukhbaatar and Vice President of the Export-Import-Bank of China Liange Liu).
9. Memorandum of Understanding (MoU) regarding heat processed meat (beef, mutton and goat meat), export and cooperation of food security. (Mongolian State Secretary at the Ministry of the Nutrition and Agriculture, and Director at Chinese State Administration of Quality Supervision, Inspection, and Quarantine, Zhi Shuping).
10. Agreement on Organising the search and rescue aircraft service. (Director of the Mongolian Civil Aviation Authority G.Nyamdavaa and Director of Chinese Civil Aviation Aministartion Li Jiaxiang).
11. Cooperation agreement between the Mongolian Trade and Development Bank and the Chinese Development Bank. (Executive Director of Trad and Development Bank, B.Medree and the Director of the Board of the Chinese Development Bank, Hu Huaibang).
"Chinggis Khaan - Mongolian Secret History" Conference on 853rd Anniversary of Chinggis' Birth
November 13 (news.mn) An international conferee named "Chinggis Khaan-Mongolian Secret History" took place on 10th November in the Civil Hall at the Presidental Administration. The conference, marking the 853rd annivarsary of the birth of Chinggis Khaan was organized by the Presidental Administration and the "Chinggis Khaan University".
The conference began with the National Anthem of the Great Mongolian Empire "Ertnii Saikhan". Experts from Mongolia, China, Russia, South Korea, Turkey, USA, Poland and Hungary attended and made presentations.
ACMS: This Month in Mongolian Studies - November 2015
November 13 (The American Center for Mongolian Studies) -- "This Month in Mongolian Studies" is a monthly listing of selected academic activities and resources related to Mongolia. This list is based on information the ACMS has received and is presented as a service to its members. If you would like to submit information to be included in next month's issue please contact the ACMS at info@mongoliacenter.org and/or the editor, Marissa Smith, at msmith@mongoliacenter.org.
This publication is supported in part by memberships. Please consider becoming a member of the ACMS, or renewing your membership by visiting our website at mongoliacenter.org/join. Thank you!
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Mongolian herders reined in by government
November 13 (AFP) For thousands of years Mongolia's Dukha ethnic minority have depended on their reindeer herds to survive the bitter winters, but now their nomadic way of life is threatened by new government restrictions introduced on environmental grounds, they say.
The Dukha spend the winter in snow-covered mountain forests where temperatures plunge as low as -50 degrees Celsius (-58 Fahrenheit).
Just a few dozen such families remain, sleeping in tarpaulin tents beside their tethered animals.
But raising livestock -- including reindeer -- has been banned in parts of the "taiga", rugged wooded areas stretching from Mongolia to neighbouring Russia, where a national park was declared in 2011.
The area is the Dukhas' traditional autumn feeding grounds, where they fatten their animals before the onset of the severest cold, and the measure has put them under what they call intolerable pressure.
"There is no place left for us to live in the taiga," said Sandagiin Ganbat, a 57-year-old Dukha and father of five.
"The park authority's decision is no different than letting us cease to exist."
Even by the standards of one of the world's most sparsely populated countries, life in the taiga is harsh. There are only a few tracks, and often the only mode of transportation is horse or reindeer.
Staying warm is a constant struggle and attacks from roaming packs of wolves an everyday threat.
Some of their tents are equipped with solar panels and satellite phones in a nod to modernity, but younger Dukha are tempted by apartments in Mongolia's expanding towns and cities.
Herder Tsendeegiin Ganbat -- no relation -- recalled one harsh season when he could not find anything to eat.
"I wanted to give up several times, when the weather got too cold... and all my kids got sick," he said.
His 11-year-old son Bayandalai spends his weekends at the family camp, riding a reindeer for an hour every Sunday to the nearest track, and then going by car to spend the week at a school in the nearest town.
He also has a daughter who studies in Mongolia's bustling capital Ulan Bator, and has told her parents she will stay there after graduation -- a decision they understand.
- 'No more' -
Most Dukha do not eat their reindeer, which they keep mainly for milk, and many keep guns to shoot elk and other wild mammals as well as for protection from wolves.
But Mongolia heavily restricts hunting, citing concerns about declining animal stocks, and the nomads are forced to buy mutton, goat meat and staples such as rice from nearby farmers in order to stay within the law.
The park had been made off-limits to nomads to protect it from illegal gold mining, which causes ecological damage, Tsedendashiin Tuvshinbat of Mongolia's environment ministry told AFP.
Nomads can graze their reindeer outside the park, he added.
Some younger Dukha -- known as Tsaatan in Mongolian -- flout the rules, bringing their animals into forbidden zones to graze on moss and lichen buried under the snow.
Many Dukha are dependent on government handouts -- worth about $65 each month for adults -- and income generated from tourists visiting their camps.
"If there were no allowance, all the reindeer men would have gone to jail," Sandagiin Ganbat said. "And there will be no more reindeer and reindeer riders."
Sumo: Eight Hakuho Cup-Medalist Kids Advance to International Hakuho Cup
November 13 (news.mn) The "Hakuho Cup-2015" named after sumo wrestler Hakuho B.Davaajargal took place on 8th November in the "A Hall" of the Central Sport Palace. A total of 229 young sumo wrestler participated in the sixth "Hakuho Cup" in the following age categories: 8,9,10,11,12 and 13-15.
The best eight medalist kids will participate in the "International Hakuho Cup" to be held in 2016 in Tokyo.
New NBA-Standard Sports Arena Opens in Khandgait
November 13 (news.mn) The new basketball palace named after the First Mongolian Master of Sport, D.Sodnomzundui has been launched. The new palace has been built in accordance with NBA standards and is located at Khandgait, which is 23 kilometers from Ulaanbaatar. The new palace has two basketball arenas, a hotel, changing room, restaurant a "Hall of Fame" and seats 2000. International medical experts proposed two places for the new facility; Khandgait and Bagakhangai, because training in these locations is extremely good for health,due to a combination of factors, such as the hight above sea level.
2016 AFC Futsal Championship Eastern Qualifiers Kicks Off Tomorrow in Mongolia
November 13 (gogo.mn) 14th Futsal Asian Championship Qualifiers will kick off with eastern group games tomorrow in Mongolia.
Today, November 13 – Tournament organizing officials have delivered information to journalists, as teams held press conference afterwards.
Jason Mutia, Event Commissioner of Asian Football Federation, led the meeting at Sport Complex of Buyant Ukhaa, during which teams' kits and other necessary matters were finalized.
Afterwards, teams jointly held press conference. China and Republic of Korea teams are considered as favorites.
Namely, Korean team is under pressure to perform well, with newly appointed Iranian coach, after failing to participate successfully in the tournament for last few years. Top two teams from five in the group will be qualified for the championship to be held in Uzbekistan next year.
Teams are currently training at Sport Complex according to the schedule. We visited training sessions of Korean and Hong Kong teams and shot few photos.
The tournament will kick off officially tomorrow and continue until November 19, with games to be played at 17:00 pm and 20:00 pm respectively every day. Tickets are available at the Sport Complex and Mongolian Football Federation.
Football vs fraud: UK fans fight back as fake agent scams Mongolian youth player
By Paul Watson
When a group of fraudsters picked on young Mongolian footballer Ochiroo Batbold, they couldn't have expected the reaction it would spark.
November 13 (Squawka) It's just after 6 a.m. on a Wednesday morning and I'm sat in a parked car outside School 107 in the outskirts of the Mongolian capital of Ulaanbaatar, the world's coldest capital city. It's pitch black except for the white of the snow on the pavement; the temperature is somewhere between -10 and -15 degrees. Even Enki Batsumber, my fellow co-owner of Bayangol FC, who has many more Mongolian winters under his belt, has been forced to admit it's cold. The car's heater whirrs under the strain, nothing moves outside.
There's a knock on the window and a slight 16-year-old wearing a thin coat, Manchester United shirt visible underneath, appears grinning and clutching a battered football. Ochiroo had arrived.
I arrived in Mongolia, the land of Genghis Khan, in October 2013 on an unlikely mission: to form a flagship football team for Mongolia. While football is huge in Mongolia and fast replacing the traditional sports of horse racing, archery and wrestling as the national obsession, most people only care about the English Premier League rather than their own Premier League. While hundreds of passionate fans turn up to watch Manchester United and Liverpool games on jerky feeds in bars across Ulaanbaatar, very few venture out to watch their Mongolian equivalents Erchim FC (a team owned by the thermal power plant) and FC Ulaanbaatar (founded in 2010). Enki's dream was to create a team of young talented Mongolians who could win the public's hearts and replace the likes of Wayne Rooney in their affections.
Enki had been tipped off about Ochiroo — a football mad kid who would arrive at school before it opened so he could kick a ball on his own in the gym for two hours before the morning bell. The school had no football programme so they encouraged us to come and watch him in the hope that we could find him someone to play against.
Ochiroo's family came from the countryside but were part of the massive wave of urbanisation that has gripped Mongolia over the last 20 years and came to Ulaanbaatar — a bustling city bursting at the seams that is home to around 2.5 million of Mongolia's 3 million residents. While Mongolia is one of the most sparsely populated nations on earth, Ulaanbaatar is an overcrowded and often fraught metropolis where many formerly nomadic steppe-dwelling people are coming to terms with sitting for hours in stationary traffic. Ochiroo's family live in one of the ger (or yurt) districts where traditional one-room felt huts are the norm and the fumes from burning the coal needed to keep warm are thick in the air.
Kicking a ball around with Ochiroo in a bright green gym decorated with child-drawn pictures of the London 2012 logo, it was clear that he was the kind of player Bayangol was set up to encourage. After Ochiroo had run rings around both me and Enki, we asked him who his favourite player was. The answer was immediate and emphatic: Wayne Rooney, in fact Ochiroo had adopted the nickname 'Wazza' in his honour. But when it came to his favourite Mongolian player, Ochiroo looked stumped. He couldn't name one. It was a pattern we'd see time and time again, the Mongolian national captain could walk down the street in kit and he wouldn't be recognised. Maybe that's for the best given Mongolia's recent results, including a hammering at the hands of Timor-Leste (East Timor) in preliminary World Cup 2018 qualification.
Almost exactly two years later, mid-October 2015, it was Bayangol FC's end of season celebratory meal. Due to weather conditions, the Mongolian outdoor season only runs between May and October before everyone is forced inside and the futsal season begins. The Bayangol squad were sat around the table at a French restaurant of all places, toasting a season of successes and disappointments. We'd won the Mongolian Amateur Championships but missed out on promotion from the Second Division in a play-off on away goals, but the mood was upbeat. It was then that Ochiroo told us about the agent, and everything came crashing down.
Ochiroo had been approached on Facebook by a man claiming he was an agent with links to MLS club LA Galaxy. The man said that he had seen videos of Ochiroo playing for Bayangol and wanted to get him a trial for the Galaxy. The only stipulation was that Ochiroo would have to pay some of the bill for flights and accommodation, which would be handsomely repaid as soon as he reached the US. Ochiroo made the payment via Western Union. Inevitably then came further requests for money for insurance against injury at the trial, for administrative costs and so on. Ochiroo's family thought this was his big break so they borrowed and borrowed again until the amount reached $6000 — more than a year's salary. Ochiroo had kept quiet even as his doubts grew and he started to feel uncomfortable, partly through embarrassment and partly because he still wanted to believe in his fairytale.
Enki and I listened to the story in shock. We had the advantage of being more worldly and cynical and immediately it was clear that Ochiroo had been scammed. Fighting back tears, Ochiroo started to explain the details. The 'agent' on Facebook had sent a contract with an LA Galaxy letterhead and a medical questionnaire, both were poor forgeries but good enough to impress a young player with no frame of reference and very limited English language skills. Ochiroo had been told to make the payments to another man who he was told was the 'administration officer' at Galaxy.
Looking at the 'agent's' Facebook profile we could see that he had used the name of a real agent in the USA but all his posts contained photos of what appeared to be a Brazilian player. I took to Twitter, asking my followers if they could identify the man in the pictures and before long he was identified as ex-Palmeiras player Fabiano Lima Rodrigues — another innocent party in the fake agent's web of lies.
It took minutes on the phone to ascertain that Galaxy had never heard of the agent. We reported the crime to police in the US and Mongolia but were warned that the money was almost certainly gone, even if the culprits are caught. Ochiroo was left with a phone number that would shortly stop answering, a fake contract and a debt of $6000 (£3,800) that could even end up costing his family their patch of land. For a young player who had always idolised the football world, this was a crushing blow and one it was hard to imagine coming back from.
Fortunately, it seems like there's a happy ending for Ochiroo. We set up a crowd funding campaign in the hope that fans would support Ochiroo and were astonished by the response. Supporters of clubs all over the country have come forward not only with money but with messages of support. Against all the odds it looks like the kid the fraudsters wrote off as helpless is going to fight back.
However, Ochiroo's story must be the tip of the iceberg. Stories of fake agents are increasingly common and many more go unreported as they prey on the vulnerable; those who can't be heard telling their story.
FIFA seems to want to wash its hands of the responsibility for agents, doing away with formal qualifications and exams from April. Anyone will be able to register as an agent as long as they have no criminal record and pay a fee. But in reality, fraudsters won't even need to pass those meagre tests; they'll simply steal the identity of a real agent, ideally someone from the older generation who doesn't regularly use the Internet.
Since 2001 agents have not been licensed directly by FIFA but by their national Football Associations and this deregulation has played into the hands of fraudsters. National FAs are supposed to update contact details of agents on their pages, but in reality many agents have no address or phone number. It makes it very hard to prove you're a real agent and very easy to impersonate one.
On the profile that conned Ochiroo there are posts from scores of others who have no idea they are dealing with a scam artist. As the police investigate Ochiroo's case we are unable to give any names but can only hope that publicising this story will prevent others suffering the same fate and possibly will encourage other victims to come forward. If Ochiroo's story proves anything it is that the fans can still make a difference even if FIFA don't want to get their hands dirty.
To donate to Ochiroo's cause, please visit this Crowdfounding page set up by Paul Watson. The money will be returned to Ochiroo's family so they can repay those who lent it to them and avoid a potentially crippling debt. With the target reached, further donations will be used to help some of the thousands of other victims who suffer Ochiroo's fate every year.
Paul's fee for this article has been waived and will instead be donated directly to Ochiroo's cause.
Artist O.Urjinhand Opens Solo Exhibition "Seeker" at 976 Art Gallery
November 13 (gogo.mn) "Seeker" solo exhibition by artist O.Urjinhand is being displayed at 976 Art Gallery from November 12-15.
ASIAN ART NEWS REVIEW 2014
"Urjinkhand Onon is one of the most important post-1993 Mongolian women artists. Her artistic vision is driven by many of the radical, political, social, and cultural changes of the past two decades.
Her art, which is influenced by traditional Mongolian painting, highlights some of the challenges facing Mongolian women today" - Ian Findlay, Asian Art News 2014
976 Art Gallery is located in 1st floor of Best Western Premier Tuushin Hotel and opens at 10AM to 07.30PM during the weekdays and 12PM to 08PM during weekends.
After decades of borrowing rock from the West, Mongolian bands find their own voice
November 13 (NewsWorks) In 1973, the most significant cultural exchange in the world was the Philadelphia Orchestra's first tour of Communist China.
Forty years later, it may have been Linkin Park on YouTube.
"Linkin Park changed me a lot," said Enerelt Otgonbaatar, guitarist for Mohanik, a rock band breaking out of Mongolia.
Otgonbaatar, who bears an uncanny resemblance to a young Bob Dylan, is part of the first generation of rock musicians in Mongolia to come of age during the country's era of democracy and capitalism, and the first to grow up with digital access to the rest of the world.
He appears in the documentary "Live From UB" screening Saturday as part of the Philadelphia Asian American Film Festival.
Rock has existed in Mongolia since 1971, when the ruling Communist government fabricated an official, state-sponsored rock band, Soyol Erdene, to quell the curiosity of youth. Kids in Mongolia at that time were secretly trading contraband copies of Rolling Stones, Janis Joplin, and Beatles records, which was illegal.
If state-sponsorship seems anathema to rock and roll, it was pretty cool at the time.
"By and large, people accepted that in order for there to be a Mongolian rock band, it had to be part of the government," said filmmaker Lauren Knapp. "Otherwise it wasn't going to happen."
Knapp captured a dozen bands playing clubs in Ulaanbaatar, Mongolia's capital city where most of the country's 3 million people live.
"That's pretty much the only city," said Knapp. "They can't really tour around the country. If they are going to have a show in Mongolia, it's going to be in UB."
Knapp lived in Ulaanbaatar for most of 2012 shooting the film. She followed the trials of Mohanik, a band of teenagers who put out a record of original pop-punk tunes songs in Mongolian. It did pretty well. The band then struggled to stay together, scrape up money while avoiding day jobs, and find an original sound for the sophomore effort.
Mohanik wrote songs incorporating ancient native melodies, and recorded them outside in the Mongolian countryside, where, until a few decades ago, most Mongolians lived as nomads.
"They were becoming much more serious about their music," said Knapp. "What they wanted to do was really tap into their Mongolian culture, and find a way they could blend that with Western music."
Knapp said many Mongolian musicians are consuming international cultural products -- mostly on YouTube and iTunes -- while at the same time trying to preserve their own cultural identity.
With its second album, "At Amarbayasgalant," Mohanik has started touring outside of Mongolia, traveling to Russia and Japan. The album is available in iTunes.
"Live from UB" screens Saturday at 6 p.m. at the International House in West Philadelphia.
The eco-beauty video that shook the "earth" by storm…
November 9 (Missosology.org) Miss Earth, an annual beauty pageant that promotes environmental awareness and pro-active solutions to mother nature's problems, will finally leave Asia and is scheduled to be hosted by Austria this month. The grand final gala, to be held in the beautiful city of Vienna on December 5th, will witness the crowning of the next Miss Earth. This is Europe's first ever hosting of the 15-year-old pageant, which is based in the Philippines.
But before the more than 80 beautiful Miss Earth delegates start to arrive in the old continent, many of them have somehow prepared and armored themselves with a strong support system through their respective social media accounts, and have shared their eco-beauty videos, which is one of the many requirements by the Miss Earth pageant.
Among all the videos which are now available on YouTube via the Miss Earth channel, one has shaken the social media network by storm. The said video has been played more than 30,000 times in less than two days after it was first published, and the number keeps on increasing.
It is that of Mongolia's Bayartsetseg Altangerel , or simple Bela.
Watching the video itself makes you think if it was meant for a pageant or a National Geographic special. It is educational as well as inspiring. It has touched not just the core values of what Miss Earth stands for, but it has also raised some moral challenges which are directed to us, humans.
In the video, it is evidently clear that Bela is not up for fame. She showed clips from her documentary film "Back to the Roots", which was done way before she was crowned Miss Earth Mongolia 2015. She also shared about the organization which she co-founded eight years ago, which has planted more than 120,000 trees in the great Mongolian plains. She also did not fail to mention the nomadic lifestyle of the Mongolians, and how nature was, is and will always be a part of their daily lives; how climate change has made their lives more difficult for not being able to predict weather patterns; and how winters have become warmer and forced the nomads to adapt to such reality.
Whatever Bela said and did in the film, they are all reflections of what a Mongolian and a true earth warrior is supposed to be. More than the glitz and glamour, more than the fake eyelashes and heavy make ups, Bela, who rode a horse at the end of the video, is indeed a woman of the earth. The team involved in the filming of her video, which only lasted for one day, must be very proud of their accomplishment!
Before Bela arrives in Vienna, it is assured that she has already gained the respect of many fans, not just from Mongolia, but all over the world. Miss Earth must feel blessed to have someone like her who has put a great amount of effort and ingenuity to her eco-beauty video, and has given a good heads up for the annual BIG 4 pageant.
Bayankhongor Hosting Annual "Thousand Camel Festival" November 19-20
Ulaanbaatar, November 13 (MONTSAME) Bogd soum of Bayankhongor aimag is hosting a festival named "Orogiin Khuren 2015" among its camel herders on November 19-20.
In frames of the series of the events to attract tourists to Bayankhongor, the aimag's Department of Education, Culture and Tourism has planned festivals of one thousand camels and 40 thousand yaks.
The Yak festival was held last August in Erdenetsogt soum.
Camel festivals have now become an annual event for aimags that raise camel herds. Another event named "Great Camel Festival" will also take place on this November 27-29 in Altai, a center of Govi-Altai aimag, gathering the best camel herders from all western aimags.
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