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Tuesday, August 23, 2016
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TerraCom: A$1.1 Million Placement Agreement with Eastern European Investors
August 23 -- TerraCom Limited (TerraCom or the Company) (ASX: TER) is pleased to announce the agreement of a AU$ 1.1 million placement to three large and prominent Eastern European based private investment companies, led by Light Speed Commercial Inc. (Light Speed Commercial). The Company will be utilising its existing capacity under listing rules 7.1 and 7.1A whilst it is available.
Key details of the placement are as follows:
· The issue price is 90% of the 14 trading days volume weighted average price of TerraCom ordinary shares prior to the Placement Completion Date.
· Placement Completion Date is Thursday 25 August 2016.
· The number of fully paid ordinary shares is the placement proceeds of AU$1.1 million divided by the issue price.
This small placement is potentially the leading edge of interest in Europe for the Company further expanding the investor base from Australia and Asia into Europe.
Company Chairman Mr Cameron McRae stated that "this placement is yet another building block in the Company's funding strategy which will help deliver the expansion of our Mongolian coking coal mine, acquisition and commissioning of the Queensland thermal coal mine and completion of the potential acquisition of the Indonesian coking coal mine". He went onto say that "breaking into the European investor base should further support the positioning of TerraCom as a global independent mining company operating in three countries with further potential for expansion within these countries".
TPO last traded A$0.165 on July 13
Tian Poh: Conversion of Convertible Notes
Tian Poh Resources Limited (the Company) advises that the holders of convertible notes with a value USD 1,519,918 have exercised their option to convert their holding in convertible notes into fully paid ordinary shares, resulting in the issue of 26,495,320 shares.
The conversion price is A$0.075 per ordinary share.
Notice under Section 708A(6) of the Corporations Act 2001 (the 'Act')
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Origo Partners: Further Update re Isle of Man Court Proceedings
August 23 -- Origo announced on 19 August 2016 that, following extensive discussions with its key shareholders and further to the proposed restructuring of the Company's share capital set out in the circular sent to shareholders in January 2016, a revised set of proposals (the "Proposals") has been agreed which will be put to shareholders for their approval.
As previously announced by the Company on 25 July 2016, a trial to consider a claim to the Isle of Man court seeking an order to wind-up the Company on the grounds that it is just and equitable to do so and/or for relief under section 180 of the Isle of Man Companies Act 2006 (the "Claim") was set down for Monday 22 August 2016, Tuesday 23 August 2016 and Wednesday 24 August 2016.
The Company is now pleased to announce that, with the agreement of the parties, and in light of the Proposals to be put to shareholders, which, if approved, will amongst other things settle the Company's ongoing dispute in relation to the Claim, the Isle of Man court has agreed to stay proceedings in relation to the Claim until further order, with an update to be sent to the court by 4pm on 30 September 2016.
Further information on the Proposals will be set out in a circular which will be sent to Origo's shareholders as soon as is practicable convening the necessary shareholder meetings.
1878 closed -0.74% Monday to HK$1.34
SouthGobi Resources Interim Report 2016
August 22, SouthGobi Resources Ltd. (HKEx:1878, TSX:SGQ) --
276 closed -0.65% Monday to HK$0.153
MEC: Poll Results of Annual General Meeting, 22 August 2016
The Board is pleased to announce that all the proposed resolutions set out in the Notice of the AGM were duly passed by the Shareholders by way of poll at the AGM held on 22 August 2016.
August 22 -- Reference is made to the circular of Mongolia Energy Corporation Limited (the "Company") dated 22 July 2016 (the "Circular"). Unless otherwise defined, capitalised terms used in the announcement shall have the same meanings as those defined in the Circular.
The Board is pleased to announce that at the AGM, all the proposed resolutions set out in the Notice of the AGM were duly passed by the Shareholders by way of poll.
…
Mogi: another Mongolian stock gone bye-bye
Draig to Acquire Bellevue Gold Project, WA
HIGHLIGHTS
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August 22 -- Draig Resources Limited (ASX: DRG) is pleased to announce the execution of an agreement for the acquisition of the Bellevue Gold Project, located 157km north west of Laverton in Western Australia.
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MSE site is down still.
Reds are rates that set a new record at the time
BoM MNT Rates: Monday, August 22 Close
8/22 | 8/19 | 8/18 | 8/17 | 8/17 | 8/16 | 8/15 | 8/12 | 8/11 | 8/10 | 8/9 | 8/8 | 8/5 | 8/4 | 8/3 | 8/2 | ||
| USD | 2,260.05 | 2,263.70 | 2,265.28 | 2,251.99 | 2,251.99 | 2,237.32 | 2,187.38 | 2,169.44 | 2,152.07 | 2,141.59 | 2,131.81 | 2,122.65 | 2,111.27 | 2,098.30 | 2,090.84 | 2,087.61 |
| EUR | 2,550.01 | 2,568.17 | 2,563.39 | 2,535.74 | 2,535.74 | 2,515.20 | 2,442.87 | 2,417.19 | 2,403.00 | 2,385.62 | 2,360.77 | 2,352.32 | 2,352.17 | 2,335.30 | 2,342.16 | 2,334.78 |
| JPY | 22.43 | 22.62 | 22.68 | 22.32 | 22.32 | 22.31 | 21.62 | 21.26 | 21.24 | 21.11 | 20.82 | 20.77 | 20.89 | 20.66 | 20.67 | 20.41 |
| GBP | 2,949.82 | 2,977.56 | 2,957.78 | 2,933.55 | 2,933.55 | 2,885.47 | 2,829.16 | 2,811.59 | 2,800.49 | 2,790.17 | 2,765.38 | 2,770.27 | 2,771.78 | 2,788.43 | 2,781.44 | 2,758.88 |
| RUB | 35.20 | 35.50 | 35.57 | 35.20 | 35.20 | 34.93 | 33.90 | 33.75 | 33.04 | 32.99 | 32.86 | 32.44 | 32.00 | 31.55 | 31.25 | 31.21 |
| CNY | 339.32 | 340.88 | 341.81 | 339.61 | 339.61 | 337.31 | 329.22 | 326.60 | 324.06 | 322.18 | 320.01 | 318.63 | 317.70 | 316.05 | 315.36 | 314.05 |
| KRW | 2.01 | 2.03 | 2.05 | 2.03 | 2.03 | 2.05 | 1.99 | 1.97 | 1.96 | 1.95 | 1.93 | 1.91 | 1.90 | 1.88 | 1.87 | 1.88 |
| SGD | 1,671.14 | 1,684.55 | 1,689.56 | 1,675.53 | 1,675.53 | 1,669.64 | 1,627.64 | 1,611.77 | 1,602.14 | 1,595.82 | 1,580.52 | 1,575.02 | 1,573.64 | 1,562.51 | 1,558.24 | 1,555.36 |
| CAD | 1,748.25 | 1,769.07 | 1,767.68 | 1,749.12 | 1,749.12 | 1,733.68 | 1,689.23 | 1,672.53 | 1,648.09 | 1,637.74 | 1,616.60 | 1,610.63 | 1,620.56 | 1,603.22 | 1,591.87 | 1,592.20 |
| AUD | 1,716.17 | 1,731.16 | 1,746.53 | 1,727.39 | 1,727.39 | 1,725.31 | 1,678.05 | 1,667.76 | 1,659.57 | 1,647.42 | 1,627.32 | 1,614.91 | 1,615.02 | 1,593.34 | 1,586.32 | 1,575.41 |
| HKD | 291.50 | 291.96 | 292.13 | 290.40 | 290.40 | 288.46 | 282.01 | 279.70 | 277.47 | 276.13 | 274.83 | 273.69 | 272.24 | 270.52 | 269.49 | 269.02 |
| CHF | 2,345.42 | 2,369.87 | 2,359.91 | 2,337.30 | 2,337.30 | 2,311.40 | 2,243.70 | 2,226.67 | 2,207.93 | 2,185.52 | 2,169.01 | 2,164.86 | 2,168.96 | 2,155.31 | 2,162.19 | 2,157.85 |
Bank USD rates at time of sending: Khan (Buy ₮2,250 Sell ₮2,270), TDB (Buy ₮2,250 Sell ₮2,275), Golomt (Buy ₮2,250 Sell ₮2,270), XacBank (Buy ₮2,242 Sell ₮2,267), State Bank (Buy ₮2,250 Sell ₮2,275)
MNT vs USD (blue), CNY (red) in last 1 year:
Mogi: looks like 15% is not attracting money yet
BoM issues ₮101 billion 1-week bills at 15%, total outstanding -17.9% to ₮539.7 billion
August 22 (Bank of Mongolia) BoM issues 1 week bills worth MNT 101 billion at a weighted interest rate of 15 percent per annum /For previous auctions click here/
Mongolia Banking Sector: NPLs - 0.6% in July, Loans +0.6%, Deposits -9.8%, Profit +38.3%
August 22 (Bank of Mongolia) --
Assets | 7/31/2015 | 9/30/2015 | 12/31/2015 | 3/31/2016 | 6/30/2016 | 7/31/2016 |
Bank reservers | 2,612,697.8 | 2,096,368.9 | 2,064,802.2 | 1,995,463.7 | 3,023,156.9 | 2,727,528.9 |
Central bank bills | 459,441.2 | 628,681.1 | 1,024,770.8 | 691,696.6 | 480,496.8 | 1,011,879.1 |
Foreign assets | 1,045,590.1 | 1,034,485.9 | 977,926.2 | 1,379,075.8 | 1,270,786.7 | 1,796,382.9 |
Government securities | 2,253,350.8 | 2,141,525.6 | 2,543,100.8 | 2,532,738.1 | 2,401,597.7 | 2,390,564.9 |
Other securities | 499,731.8 | 604,210.5 | 762,088.6 | 1,032,197.7 | 1,382,681.5 | 1,299,704.3 |
Loans | 11,927,123.6 | 11,873,157.6 | 11,633,582.6 | 11,764,551.5 | 11,950,784.9 | 12,025,827.2 |
In domestic currency | 8,991,513.3 | 8,986,030.4 | 8,857,639.7 | 9,053,513.2 | 9,288,555.0 | 9,341,564.2 |
In foreign currency | 2,935,610.3 | 2,887,127.2 | 2,775,942.9 | 2,711,038.2 | 2,662,229.9 | 2,684,263.1 |
Non-performing loans | 822,664.7 | 850,227.0 | 867,288.7 | 964,396.5 | 1,032,111.4 | 1,026,134.6 |
Total Assets | 21,459,232.4 | 21,316,424.7 | 21,521,242.5 | 22,042,486.6 | 23,310,417.0 | 23,959,581.0 |
Liabilities | 7/31/2015 | 9/30/2015 | 12/31/2015 | 3/31/2016 | 6/30/2016 | 7/31/2016 |
Current Accounts | 2,213,557.2 | 2,248,819.0 | 2,208,520.6 | 2,114,696.0 | 2,712,315.4 | 2,535,515.8 |
In domestic currency | 1,200,536.9 | 1,206,297.8 | 1,226,775.5 | 1,156,950.6 | 1,419,582.5 | 1,374,887.2 |
In foreign currency | 1,013,020.3 | 1,042,521.2 | 981,745.1 | 957,745.4 | 1,292,732.9 | 1,160,628.6 |
Deposits | 7,146,890.2 | 7,230,539.0 | 7,339,720.7 | 7,529,373.6 | 7,866,001.9 | 8,161,307.6 |
In domestic currency | 5,105,427.0 | 5,135,099.1 | 5,390,685.4 | 5,424,466.0 | 5,584,217.1 | 5,687,232.3 |
In foreign currency | 2,041,463.2 | 2,095,439.9 | 1,949,035.3 | 2,104,907.5 | 2,281,784.9 | 2,474,075.3 |
Foreign liabilities | 3,783,774.8 | 3,158,428.2 | 3,595,478.1 | 3,762,953.4 | 3,643,502.4 | 4,223,705.0 |
Government deposits | 1,282,293.4 | 1,466,673.9 | 1,453,863.8 | 2,247,310.7 | 2,522,696.4 | 2,545,392.2 |
Total Liabilities | 19,111,696.5 | 18,937,145.9 | 19,094,433.4 | 19,647,892.5 | 20,741,045.7 | 21,319,099.0 |
Capital | 2,347,535.9 | 2,379,278.9 | 2,426,809.1 | 2,394,594.2 | 2,569,371.2 | 2,640,482.0 |
Profit/loss of current year | 173,378.9 | 176,135.3 | 218,253.8 | -7,689.3 | 26,673.6 | 36,900.4 |
Social insurance revenue increases 25.5% in first 7 months
Ulaanbaatar, August 22 (MONTSAME) In the first seven months of this year, the revenue of Social Insurance Fund (SIF) amounted to MNT 962.8 billion which increased by MNT 195.9 billion or 25.5%, while the SIF's expenditure reached MNT 966.0 billion which increased by MNT 70.3 billion or 7.8% against the previous year.
In the period, money of MNT 85.0 billion was granted to 208.5 thousand people for pensions and welfare benefits from the Social Welfare Fund (SWF). The number of people receiving pensions and welfare allowances increased by 16.0 thousand or 8.3%, and amount of pensions and allowances decreased by MNT 849.6 million or 1.0% against the previous year.
Money of MNT 122.5 billion was granted from the Human Development Fund (HDF) to 1,021.1 thousand children aged below 18 as cash benefits.
Household average income declines 10.4% in second quarter to ₮874.4 thousand
Ulaanbaatar, August 22 (MONTSAME) According to results of the Household Socio-Economic Survey in the second quarter of 2016, household average monetary income per month reached MNT 874.4 thousand which decreased by MNT 101.3 thousand or 10.4% against the previous year.
As of the second quarter of this year, household average monetary expenditure per month was MNT 948.9 thousand which decreased by MNT 30.3 thousand or 3.1% against the previous year.
In the period, the number of households with income of below MNT 300 thousand per month reached 118.9 thousand which accounted for 13.8% of total households. Households with MNT 300-500 thousand income reached 163.7 thousand (17.0% of total households), households with MNT 500-900 thousand--265.4 thousand (30.8% of total households), and households with above MNT 2,100 thousand--37 thousand (4.3% of total households).
Against the previous year, the number of households with below MNT 300 thousand increased by 23.2 thousand or 2.2 units, while the households with MNT 700-900 thousand also increased by 10.6 thousand or 0.6 units.
Foreign minister meets World Bank and IFC reps
Ulaanbaatar, August 22 (MONTSAME) Minister of Foreign Affairs Ts.Monkh-Orgil received Monday James Anderson, the Permanent Representative of the World Bank to Mongolia; Tuyen Nguyen, country director of the International Finance Corporation (IFC) to Mongolia; D.Jigjidmaa, a project manager; and B.Erdene-Ochir, an action expert.
The Foreign Minister briefed about a structure and functions of the new cabinet and governmental measures to be taken by the government for stabilizing macro-economy of Mongolia and attracting investments.
"A new department on external trade and economic cooperation has been set up within the MFA's structure, therefore Mongolia is now able to collaborate with the WB in diversifying Mongolian export, facilitating trade and learning issues of joining international trade agreements and treaties," the Minister said.
WB officials reported about ongoing projects being implemented by the bank in Mongolia, and then reached a concurrence to scrutinize matters on cooperating in some works such as training a national group of experts to establish contracts on regional economic integration and international commerce.
Seminar held for local government leaders on 2016-2020 policy plan
Ulaanbaatar, August 22 (MONTSAME) This seminar started on Monday in the State House to present the governmental policy and actions for next four years to heads of the Citizens' Representative Khurals (Council) and governors of aimags and the capital city.
Head of the Cabinet Secretariat for Government J.Monkhbat made the opening remarks at the seminar, and wished the attendees successfully took part in the event.
Noting that a department on local management and regulation has been set up within the Cabinet Secretariat's structure, K.Monkhbat emphasized that this department has responsibilities for collaborating with the local authorities in all issues.
Organized by the department, the training-seminar is being attended by the Prime Minister and members of the cabinet to give information on policies and goals for 2016-2020 and to share views with the local authorities on relevant issues. Some scholars and researchers will give lessons on laws and legal landscape as well.
In accordance with the event's schedule, heads of aimags and the capital city will sign a document on pledge of their responsibilities to be established with the Prime Minister. Furthermore, the participants will hear a presentation about a clarification to be performed in the 2016 budget as well as present situation of the national budget and finance.
Driving Strategic Transformation of Erdenes Mongol (2015-2017)
August 18 (Erdenes Mongol) Erdenes Mongol LLC ("Erdenes Mongol" or the "Company") has a multi-dimensional mission to become a leading national company with an international levels of competitiveness in Mongolia's key economic sectors, including mining, infrastructure, and energy.
The Company, today, is employing over 10,000 workforce through its subsidiaries and affiliates. Erdenes Mongol is strongly committed to ethical business practices and international standards, and strive for transparency and independence in corporate governance.
Strategic transformation of Erdenes Mongol, from a state owned enterprise to become an independent investment company, is a matter of the highest importance. Since 2015, we are developing our own corporate model based off world leading successful corporations - Temasek, Rio Tinto, and BHP Billiton – and following their strategies and operating models.
Erdenes Mongol will generate returns for country's strategic and social development, by accelerating the transformation process:
· Sustain and stimulate economic growth of Mongolia through professionalising and enhancing our existing businesses
· Provides funding support and attracts world-class partners to its projects
· Creating opportunities for citizens to be employed, increasing , pool of internationally-competitive skilled Mongolian workforce
· Keeps our position of being largest contributor to the country's state budget
· Manages our strategic mining assets with a low opex and capex approach, and diversifies our asset-base into economic infrastructure and energy that Mongolia needs
· Generate dividends for every citizens of Mongolia
Changes in law has allowed Erdenes Mongol to act as a private commercial company
Early this year in January, Erdenes Mongol made a regulatory changes including amendments to the Human Development Fund Law, aim to professionalize the company Board and management composition and help it to operate as a commercial entity.
Developing formal corporate governance and organizational culture
For the Company to run as a commercial entity, commitment to good corporate governance is the key basis. To align Erdenes Mongol's governance, including codes and policies, with international standards, we have started cooperating with International Finance Corporation ("IFC") to assess our corporate strategy and governance.
To reinforce the autonomy and authority of Erdenes Mongol Board of Directors ("BoD") as well as to enhance skill sets and improve overall engagement, we have started attracting international talents.
This allows Erdenes Mongol to strengthen the functional effectiveness of the BoD, including putting in place more structured frameworks on governance.
Reduce loss occurred for Government of Mongolia owned companies, and promote healthy pipeline of projects
Erdenes Mongol has obtained Asian Development Bank fund, to provide support to the strengthening institutional framework and management capacity of the Company. The proceeds envisages Erdenes Mongol to form an integrated proper management system for investment decision making, sound corporate governance, and prudent risk management. Within 6 consecutive years, the ADB loan will provide total MNT3.3 trillion to the state budget, including MNT2 trillion in Royalties, MNT825 billion in VAT, WHT & Others, and MNT518 billion in dividends.
IFRS compliant financials is allowing Erdenes Mongol to raise funds from international capital market
One of big fours of IFRS Standards, "Ernst and Young" has audited Erdenes Mongol and our subsidiaries. As a result, Erdenes Mongol now holds a complete financial statements as a Group that are internationally accredited. For us to raise financing from international capital markets, investors will initially look at IFRS audited financials. We are now in a unique position to provide funding support and attracts world-class partners for our portfolio projects. To expand our investor base as well as decreasing our cost of borrowing, we will have our Company rated by one of the credit rating agencies.
Oyu Tolgoi – World class copper mine
After just three years since it started operations, Oyu Tolgoi is a world class mining operation that is contributing to Mongolian economy. In 2015, it was the country's largest tax payer. Last December, a Project Financing agreement of USD4.4 billion with 20 international banks and financial institutions to fund the Oyu Tolgoi development was signed. The project finance deal is highly valued in international market and retrieves investors' credibility of Mongolia. As of today, Oyu Tolgoi project created over 1000 jobs.
MNT 1.8 trillion payment to the State Budget
Erdenes Mongol owns a world class assets with long-term high cash-generation potential, including Oyu Tolgoi, Tavan Tolgoi, Baganuur and Shivee Ovoo.
We have paid MNT1.8 trillion as taxes and fees to the State Budget, from 2012-2015.
EMGL's long term focus is to sustain and stimulate economic growth by supporting new business ventures into operations, and re-investing "superior returns" into new growth vehicles.
International levels of competitiveness
By successfully negotiating the settlement for Oyu Tolgoi, has improved our partner relationship with lending partners as well as cooperation and coordination. We are now maintaining key relationships with the various lenders from Oyu Tolgoi project financing, including Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), Export Development Canada (EDC), Singapore's Temasek Holding, the US General Electric and other sovereign wealth funds.
Achieving international standard of performance and international levels of competitiveness is Erdenes Mongol's key focus. We are in a unique position with our ability to acquire infrastructure and energy assets, aiming to achieve international standards in its governance, management and operations through the Strategic Transformation.
China-Mongolia-Russia Truck Convoy arrives in UB
August 22 (gogo.mn) State heads of Mongolia, Russia and China have signed an agreement to establish "Economic corridor" linking the three neighbors on June, 2015 at Tashkent city.
The launch ceremony of the first 'China-Mongolia-Russia' international truck convoy took place in Tianjin, China, on August 13th, 2016. The convoy will finish in Ulan-Ude, the capital city of the Republic of Buryatia, Russia, on August 25th.
On Aug 22, the convey arrived in Ulaanbaatar city and the reception ceremony was organized jointly by the Ministry of Road and Transportation, National Center for Transportation and Mongolian transportation integration.
We have created transportation route by supplementing silk road with modern context. Our three countries need to establish intergovernmental agreement on conducting international transportation through an Asian road within 2016 in order to support the sustainable development ofthe transportation, stated by the Ministry of Road and Transportation Mr. D.Ganbat.
Food service industry revenue increases 8.2% in first half
Ulaanbaatar, August 22 (MONTSAME) In first half of this year, a survey on catering industry involved 794 entities.
Total revenue of these entities reached MNT 108.2 billion in first half of 2016, increasing by MNT 8.2 billion or 8.2% against the previous year. Revenues of restaurants went up by MNT 5.2 billion or 9.6% and cafes--by MNT 3.1 billion or 32.7% against the previous year.
In the period, average income of per seat in the catering industry reached MNT 2.1 million which increased by MNT 71.4 thousand or 3.5% against the previous year.
Hotel industry revenue increases 17.6% in first half
Ulaanbaatar, August 22 (MONTSAME) In first half of this year, a survey on hotel industry involved 324 enterprisers. Revenues of these enterprisers reached MNT 58.3 billion which increased by MNT 8.7 billion or 17.6% against the previous year.
In the period, average income of per room reached MNT 8.4 million which increased by MNT 699.0 thousand or 9.0% against the previous year.
71.6 per cent of hotel clients were Mongolians, and 28.4% of them were foreign citizens. In the first half of 2016, each hotel received about 725 clients, and each guest stayed in hotels approximately 1.2 days.
North East architecture practice given go ahead for multi-million pound Mongolia regeneration project
August 2 (Bdaily) Designs by Gradon Archietecture for a multi-million pound regeneration project in Mongolia's capital, Ulaanbaatar, have been given the green light.
The project, Galleria UB, will see the Ryton-based firm transform a disused former print works into a high end shopping centre, as the capital undergoes one of the most extensive regeneration periods in its history.
Situated in the heart of the city on the famous Chinggis Square and close to Mongolia's Parliament Building, the former print works has been empty for a number of years, falling into disrepair.
Regeneration work of this nature is uncommon in Mongolia, adding to the uniqueness of the project. Work is due to begin on site shortly and is expected to be completed by early 2018.
Gradon's designs will see the exterior restored to its former glory, while the interior will be completely revamped to create a light and modern retail space. The architect's plans include two floors of high-end retail space, with a number of retailers already expressing an interest.
Tanja Smith, Technical Director of Gradon who heads up the Mongolia studio, said: "This has been an amazing project for everyone involved. Mongolia, and Ulaanbaatar in particular, is changing very quickly and it's hugely exciting to be involved in shaping the future of the city. "Galleria UB" is in a prime location and will offer an unrivalled shopping experience to both tourists and residents alike.
Mongolian Expansion
Gradon made history last year when the practice became the first UK architect to set up in Mongolia, opening a design studio and initially taking on three local staff to add to its UK expertise and has since added to its talented team.
In its first 18 months the practice has worked on a number of prestigious design projects in the country including the Tuguldur shopping centre, Nukht Valley sustainable housing, Four Seasons 17 hectare mixed use masterplan and an extension to a school.
Tanja added: "With bases in the UK and Mongolia, as well as Northern Ireland, we bring the unique combination of local knowledge and UK expertise in sustainable design solutions to the project. "As Mongolia's urban regeneration continues we look forward to bringing our sustainable design solutions to more sites across the city."
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Gateshead architects win major contract in capital of Mongolia – Chronicle Live, August 22
South Korean Cultural Days to Be Celebrated in Ulaanbaatar, September 6-12
August 22 (gogo.mn) South Korean cultural days to be celebrated in Ulaanbaatar city on Sep 6-12, stated by the Embassy of South Korea.
Agenda for the event:
Date | Event name | Where |
Sep 6th 5PM | Korea-Mongolia Fasjion Show | Embassy of South Korea |
Sep 6th at 7PM | 2016 Korea Week Opening Ceremony | Embassy of South Korea |
Sep 6th-12th | Nature of Mongolia Photo Exhibition | Embassy of South Korea |
Sep 7th at 7PM | Performance Taekwondo | National Amusement Park |
Sep 8th 5PM | K-food Festival | National Amusement Park |
Sep 8th 7PM | Kimchangwan band & Fusion MC | National Amusement Park |
Sep 9th at 7PM | Face of Mongolia 2017 | National Amusement Park |
Sep 10th at 10AM | International Baduk Contest | Embassy of South Korea |
Roundtable meeting held between Mongolia and S.Korean journalists
Ulaanbaatar, August 22 (MONTSAME) A roundtable entitled "Mongolia-South Korea cooperation in media and journalism" was held on Monday in the Ulaanbaatar hotel on occasion of the fourth anniversary of the ties between the Confederation of Mongolian Journalists (CMJ) and the Korean Journalist Association (KJA).
The meeting was attended by the South Korean media delegates including Jung Kyu Sung, the KJA president; vice presidents of the KJA; authorities of "The Joong Bu Maeil", "MBC", "Gyeongi-gi ILbo", "The Kyunghyang Daily News F", who are visiting here at the invitation of S.Altantsetseg, the CMJ executive director.
"Our cooperation have broadened last four years. In scope of the cooperation, we have shared experiences, and co-organized trips of journalists to get familiar with each other's history, culture, customs and the media sector. This time, our group arrived here with a big composition to see Mongolian media organizations, their daily activities as well as a Mongolian development. I am confident that media organizations of our countries will find out easier ways of cooperation," the KJA president said.
At the meeting, the CMJ president B.Galaarid pointed out that the countries have a chance to co-create new contents in a way of analyzing the countries' history, culture, tradition and media situation.
In last May, 10 Mongolian journalists visited the Republic of Korea, while the visit of the Korean journalists will continue here for a week.
Health sector policy and financing discussed by Cabinet and industry representatives
August 22 (UB Post) Prime Minister J.Erdenebat and Head of the Cabinet Secretariat J.Munkhbat met with representatives of the health sector last week to discuss state policy on the health sector and financing, as the Cabinet is developing its 2016 to 2020 action plan.
The meeting was attended by the authorities of health centers, NGOs working in healthcare, universities, research institutes, private hospitals, as well as former authorities of state hospitals. They discussed the issues facing the health sector and offered some policy proposals.
Beginning the meeting, J.Munkhbat said, "In the scope of developing the 2016-2020 action plan of the Cabinet, the ministers have held meetings with the education, agriculture, and light industry sectors. Cabinet will hear suggestions from all the sectors and will include their suggestions in the action plan. Public health is the most essential issue for the state and government," and added that Cabinet's action plan will include suggestions and proposals from the health sector representatives.
"We have enough documents for programs, plans, targets, and objectives. Unfortunately, these documents haven't worked. No one is doing anything to implement these papers rather than developing them. My Cabinet will only discuss and speak about the projects we will do. We will take relevant measures if someone does not complete what he or she was assigned and supposed to do. This policy is being applied to all sectors equally. We are putting such demands on Cabinet members as well," J.Erdenebat said during the three-hour meeting.
During the meeting, many people suggested founding a fund to support health. Cabinet ministers expressed their willingness to establish such a fund, but noted that financing for the fund would not be issued through the state budget. The Prime Minister suggested that the fund operate in cooperation with the private sector and foreign and domestic donors.
The Prime Minister also assigned Health Minister A.Tsogtsetseg with providing assistance in establishing a needle and syringe factory.
As of the first seven months of 2016, 26 maternal deaths during childbirth occurred nationwide. The Prime Minister warned health authorities attending the meeting that any achievement or success of local and provincial healthcare authorities will be disqualified in the case of a maternal death occurring in the area, and added that legal measures will be taken against hospital staff, doctors, and hospital and local authorities found to be responsible for a maternal death.
"Even though the country's economy is in critical condition, Cabinet will not decrease the budget for the health sector in the next 18 months in amendments to the budget. We hope that positive changes to the economy will be observed during this 18 months, as a result of the Cabinet's policy. After stabilizing the economy, Cabinet will focus on maintenance in hospitals, buying new medical equipment, and salary increases for hospital staff," noted Prime Minister J.Erdenebat.
Mentioning that Cabinet will hold annual meetings with health sector representatives, J.Erdenebat underlined that the results of the meeting and feedback on the proposed suggestions and insight will be reviewed.
Rural Mongolia Steps Into the Digital World
By Robert Fenne
August 22 (Bloomberg) With patchy mobile phone coverage on its vast steppes and limited land-lines to deliver internet or electricity, bringing a country like Mongolia into the digital age requires some improvisation. But farmers in the sparsely populated land are slowly joining online services like Airbnb. Photography by Taylor Weidman for Bloomberg
2nd International Expedition "From Tian Shan to Otukan" Begins in Mongolia
August 22 (International Turkic Academy) The 2nd International Expedition "From Tian Shan to Otukan: Historical and Cultural Legacies of Nomads of the Great Steppe" has been officially started today.
Expedition team consists of distinguished Turkic studies scholars, researchers, archeologists, executives of international organizations, foreign and local journalists.
Started from Ulan Bator, the main works of the expedition takes place in Shiveet Ulan Memorial Complex.
We informed you earlier that archeological excavations started 2 months ago in Shiveet Ulan complex. Findings and results of these excavations will be presented during the 2nd Turkic-Mongolian Archeological Field Seminar entitled "Nomads of the Great Steppe: Historical and Cultural Synergies" on 24 August 2016.
It is worth noting that with the support of the International Turkic Academy, media coverage of the work of the expedition would be rendered by "Egemen Kazakhstan" newspaper and "Kazakhstan" TV channel.
*Facebook posts of the expedition team members could be found by using #TWESCO hashtag.
International Conference on Traditional Medicine of Nomads Held in Mongolia
August 20 (International Turkic Academy) The international conference entitled "Stages of development of traditional medicine of nomads" organized by the International Turkic Academy and Mongolian museum of traditional medicine Nomun Gerel Center is being held now in Ulan-Bator.
This event is attended by 40 scholars from 7 countries. They will discuss and talk about a history of development of Turkic-Mongol traditional medicine, the continuity between traditions, the health and wellbeing of people.
Renowned Mongolian scholar, the Director of Nomun Gerel Center, Dalantain Tserensodnom expressed his gratitude to the Turkic Academy for jointly organizing this gathering. Research Fellow of the Turkic Academy Akyedil Toyshanuly conveyed congratulations remarks on behalf of the president of Academy Darkhan Kydyrali.
The president of the Turkic Academy in his letter stated that he hopes that "secrets of people's medicine which lasted for centuries would be revealed during the conference and would be analyzed from scientific perspective." Mr. Kydyrali wished that academic findings of researchers would complement each other and expand a spiritual space between sister nations".
It is worth noting that distinguished neurosurgeon from Xinjiang Zhasarat Jalel, Turkic studies specialist Nuriddin Useyev has been specially invited to the conference by the Turkic Academy.
Articles of the presenters would be published as a book.
Mongolists study Mongolians with different mentality and judgment
August 22 (gogo.mn) 100 years ago, livestock products accounted for 76 percent of herder household income while it has decreased to 30 percent, noted by Mongolists.
According to the study conducted by Russian scientist Ivan Michailovich Maisky in 1918, an annual income of Mongolian average household was RUB 596 and expenditure was RUB 585. If we translate to current values of money, it is equivalent to MNT 15 million.
100 years ago, Mongolians were 100 percent dependent on livestock farming. Currently, one out of three households are farmer.
More than 400 Mongolists from 29 countries have attended the 11th International Congress of Mongolists under the theme of "Mongol Studies and Sustainable Development".
Scientists have delivered speeches on five sectors including Mongolian language, Mongolian history, Mongolian culture and literature, Mongolian society and economy and Mongolian foreign affairs.
Mongolians end Rio 2016 with one silver, one bronze
Ulaanbaatar, August 22 (MONTSAME) National team of Mongolia took part in the Rio de Janeiro 2016 Summer Olympic Games which was concluded on Sunday. It was the largest Olympic for Mongolia in terms of number of athletes.
Mongolia competed in the 31st Olympics with 13 judokas, 10 athletes of freestyle wrestling, six boxers, five marathon athletes, three shooters, two weightlifters, one athlete for archery and taekwondo, respectably. In addition, two swimmers competed with wild cards in the races of men's 50 m freestyle and women's 50 m freestyle.
Mongolia participated with 29 athletes in the Beijing 2008 and London 2012 Olympics, respectively. In this Games, D.Sumiya won a silver medal in the -57 kg women's judo, while D.Otgondalai IMS captured a bronze medal in the men's -60 kg category. As the team results, Mongolia was ranked shared 67th place with India, among 206 countries. 87 countries won at least one medal at the Rio 2016 Olympics.
Three Mongolian runners finish Olympic marathon at 92, 107, 130th
August 22 (news.mn) On the last day of the Rio Olympics (21th August), three Mongolian runners competed in the marathon competition. Honoured Mongolian athlete B.Ser-Od was 92th, with a time of 2:24:26. It was his fourth Olympics. His personal best of 2:08:50 is the Mongolian national record. D.Gantulga (107th in 2:27:42) and Ts.Byambajav (130th in 2:36:14) were competing for the first time at the Olympics.
Eliud Kipchoge of Kenya won the Olympic men's marathon on Sunday with a time of 2 hours 8 minutes 44 seconds. Feyisa Lilesa of Ethiopia came second and Galen Rupp of the United States took the bronze. Rupp's 2:10:05 was a personal best. A total of 14 runners of the 155 couldn't finish marathon competition.
Related:
B.Ser-Od finishes 92nd place in marathon – Montsame, August 22
Olympic Wrestling Coaches Stripping on Live TV Is Sadder Than It Sounds
August 22 (New York Magazine) Just before the closing ceremony in Rio, one of the more obscure corners of the Olympics provided what was one of this year's strangest, and most heart-wrenching scenes from the games.
As Olympic moments go, this one had it all: exaltation, tears, rage, accusations of cheating, a body slam, some old-fashioned shoe-throwing, and a coach stripping down to his skivvies. All in all, a dramatic day over at the bronze-medal men's freestyle 65-kilogram wrestling match.
You really should watch the footage yourself, (starting at 1:32 in the NBCOlympics.com livestream), as the announcers' growing bafflement really makes the whole thing that much more special. But here's what happened.
Two wrestlers, Mongolian Mandakhnaran Ganzorig and Uzbek Ikhtiyor Navruzov, battle it out for bronze in what is turns out to be a closely fought match. Just seconds before the bout ends, the judge awards Ganzorig a point, breaking what had been a 6-6 tie and effectively giving Mongolia what would have been its third medal in Rio. Obviously this is a major setback for Uzbekistan's Ikhtiyor Navruzov, whose coach is so upset that he actually rushes onto the mat, a move that never worked in children's soccer and doesn't work here.
With only a few seconds left in the match, the wrestlers stop wrestling and get down to reacting: Ganzorig raises his hands in a defiant pose of triumph, Navruzov raises his in a futile gesture of disgust. As it turns out, both gestures were premature. In the last moment, a judge awards Navruzov a penalty point — Ganzorig had stopped engaging in the last seconds of the fight, apparently — tying the score at 7-7.
Just like NBC, we won't bore you with the minutia of scoring, but in wrestling the last wrestler to receive a point carries the day, so it is not really a tie at all but a victory for Navruzov — who is now screaming. Then things get crazy.
Navruzov embraces his coach, who body-slams him in celebration, while Ganzorig falls to his knees writhing, his face buried in his hands. This is when the Mongolian coaches decide to escalate.
The coaches yell "why him!?" while one rushes the mat, throws aside his jacket, and "with a mighty 'No!' … angrily removes his shirt." Next, he removes his shoes, throwing one of them in the direction of the judges.
Initially, another coach from Team Mongolia tries to restrain his colleague, but around the time of the shoe-throwing, he has a change of heart and begins stripping in solidarity, getting all the way down to his underwear before depositing his pile of clothes on the judges table.
This is where the prudish announcers turn against the Mongolian contingent: "This is the Olympic Games, gentlemen," "leave immediately," etc. But the Brazilian crowd is decidedly on their side, chanting "Mongolia" throughout.
The coaches refuse to leave the mat, even as the judges award Navruzov another penalty point and declare him the victor.
Now one coach is topless, gesticulating wildly with his only shoe, and the other refuses to budge, defiant in his tight black underwear. Finally, Ganzorig the wrestler — still sobbing — joins his coaches and takes off his shirt. The coach with the shoe throws it at Navruzov and his coach; as they make their victory lap, he then collapses on the mat.
At least they still have their dignity.
Link to list of related articles
Rio 2016: How global media reacted to protest of two Mongolian coaches
August 22 (gogo.mn) State Honored Athlete G.Mandakhnaran has lost the bronze medal match in men`s freestyle 65 kg by penalty point after the finish of the match. He lost to Uzbekistan's Ikhtiyor Navruzov.
Media around the world are reacting to the protest of two Mongolian coaches after the match. They took their clothes off at the mat and here`s what media said:
News on the story have published at repubblica.it, usatoday.com, flowrestling.org, time.com.
The sudden turn of events enraged the Mongolian coaches. One removed his shirt in front of the judges' table and flexed. The other took off his shirt and pants, wearing only a pair of underwear.
"This was a protest," one of the coaches, Byambarenchin Bayaraa, said. "There was a problem with the refereeing.
"Three million people in Mongolian waited for this bronze medal and now we have no medal ... 100% of the stadium supported us."
"Ganzorig, leading Ikhtiyor Navruzov by seven points to six, taunted his opponent by dancing around him in the last 18 seconds of their 65kg match and was then carried around the ring in triumph by one of his coaches".
Twitter user Daniel Rubenstein tweeted that was the best moment of the day.
While USA Wrestling says "this is such a shame. Don`t know what I`m watching".
Related:
Rio controversy: Mongolian coaches strip in front of judges – news.mn, August 22
Schoolgirl gives her medal to G.Mandakhnaran
August 22 (news.mn) Mongolian wrestler G.Mandakhnaran sadly lost in the 65kg freestyle Olympic bronze medal. But a kind schoolgirl, who lives in Canada wants to give her own medal instead of the Olympic bronze to G.Mandakhnaran. D.Uyanga's family sent a letter to our News Agency by e-mail.
In the letter, 'Our family watched honoured athlete G.Mandakhnaran's competition for Olympic bronze yesterday. My little girl cried a lot after our wrestler lost unfairly in the competition. She told me that a few days ago, her class mate gave his medal from a school competition to Irish boxer Michael Conlan who had also been 'cheated' out of his medal. So she wants to do same to G.Mandakhnaran. She wants to present her medal from school cup in 2013. Our family lives in Ottawa, Canada. If G.Mandakhnaran accepts our daughter's her kind present, we will send it by post.
The two Mongolian coaches stripped off and hurled their shoes in protest at the judges on Sunday after wrestler G.Mandakhnaran was denied victory for 'running away' from his Uzbek opponent in the final seconds of their bronze medal contest. G.Mandakhnaran, leading Ikhtiyor Navruzov by seven points to six, taunted his opponent by dancing around him in the last 18 seconds of their 65kg match and was then carried around the ring in triumph by one of his coaches. But the judges then adjusted the score to 7-7, penalizing the Mongolian for 'fleeing the hold', or refusing to engage with his opponent. They then added a further point to the Uzbek's score after the Mongolian corner challenged the decision and had the challenge rejected.
Asashoryu resigns as President of Mongolian Freestyle Wrestling Federation
August 22 (gogo.mn) Yokozuna D.Dagvadorj ruled the Mongolian freestyle wrestling federation for six years. Today he announced his resignation through his Twitter due to freestyle wrestlers received no medal from Rio 2016 Olympic Games.
Many people blamed authorities of Mongolian freestyle wrestling federation after G.Mandakhnaran's lost in 65 kg class.
Mongolia has represented by total of 43 athletes at Rio 2016 Olympics and 10 of which were freestyle wrestlers.
Chess Grandmaster Enkhtuul plays against 95 players simultaneously
August 22 (UB Post) Chess Grandmaster G.Enkhtuul played matches against 95 amateur chess players simultaneously on Saturday at the Zaisan Hiil Complex.
The event gathered around a hundred chess amateurs to promote the chess sport. Oyunii Undraa Group raised funds through the event and donated three million MNT worth of equipment to the Children's Department of Healthcare Center in Nalaikh District.
The event was organized at the initiative of former Minister of Roads and Transportation M.Zorigt. The youngest participant was six years old, while the eldest was 86 years old.
Grandmaster Enkhtuul played chess for six hours, and won 73 games, drew with 10 players and lost 12 matches.
Mongolia's first and only professional henna artist speaks about her craft
August 22 (UB Post) The following is an interview with G.Dochkana who has been working as a henna artist since 2012. Henna is a body art which originated in Egypt and the Arabian Peninsula. The artist is the first and only person working as a henna artist in Mongolia, which has been gaining popularity among young people, especially young women.
G.Dochkana, who works on the fifth floor of Ulaanbaatar Department Store, says it takes her 15 to 20 minutes on average to complete a complex henna design, which is typically drawn on the hands or feet. The artist said she wants to help people who can't get tattoos by satisfying their curiosity through an alternative and temporary option: henna.
When did you become interested in pursuing a career as a henna artist?
I became interested in henna when I was a child. While watching an Indian film, I saw something drawn on some hands. I wondered if it was a tattoo or just a drawing. I even assumed that the Indian people were born with these patterns on their hands and feet. But this was only because I didn't have much information about it. Later, in 2007, I became a student and got the opportunity to visit India, so I decided to learn more about henna.
It's been nine years since I learned to draw henna. During this time, I tried applying it on myself and on my friends. I started doing it professionally four years ago.
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What are your plans for the future? What do you hope to pass onto others through henna?
I'm currently preparing for a workshop, which I plan to organize in the near future. I will also attend several events and measures so that I can introduce henna to more young people. Next week, I will be cooperating with Maxmall in organizing an event.
Lately, increasing number of people are becoming interested in tattoos. Among them, there are people who don't have the courage to get a permanent tattoo or can't get tattoos due to the line of work they do. Henna is a good alternative option for them. They can satisfy their desire to get a tattoo with a henna. I want henna to become an everyday "accessory" for young people and become something that's easy to get. Henna has become a strong trend worldwide. I noticed that the Mongolian people are keeping up with global trends and are trying out new things. Therefore, I try to offer my customers the latest trend and the hottest henna design as soon as they are out.
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