1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      НУРАХ ДӨХСӨН БАЙРУУДЫГ ШИНЭЧЛЭХ КОМПАНИ ОЛДОХГҮЙ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛС ВАШИНГТОН, ПЁНЬЯНЫ ХЭЛЭЛЦЭЭРТ ЗУУЧЛАХАД БЭЛЭН ГЭДГЭЭ ЗАРЛАЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20    

Events

Name organizer Where
Frontier's "Invest Mongolia Tokyo 2018" Frontier Securities Tokyo Japan
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Hanoi and Ulan Bator reinforce cooperation www.hanoitimes.com.vn

Paying the honor to take charge in Vietnam when two countries’ tie in best lever ever, especially after the visit to Mongolia of PM Nguyen Xuan Phuc on July, 2016 and recent visit to Vietnam of Mongolian Foreign Affair Minister; Ambassador Dash Bilegdorj affirmed that the Hanoi-Ulan Bator friendship was developing in depth and width, facilitating new effective cooperation.

On Chairman of Hanoi’s People Committee Nguyen Duc Chung and newly-accredited Mongolian Ambassador to Vietnam, Dash Bilegdorj.
Ambassador is in high hope that, based on earlier MoU signed by Hanoi and Ulan Bator, two sides would make effort to expand the social-culture exchanges, enhance mutual understanding, create firm foundation for further collaboration. He suggested Hanoi authority to held Hanoi days in Ulan Bator as well as send a delegation along with some Hanoi’s enterprises to the Mongolian capital, seeking for new cooperation chance.
Congratulating Mongolia on its socio-economic achievements over the past years, Chairman of Hanoi’s People Committee Nguyen Duc Chung pledged to facilitate municipal-level exchanges and cooperation across the fields of diplomacy and trade, economy, tourism.

Agreeing with suggestions of the ambassador, Chairman of Hanoi’s People Committee said: “Hanoi is willing to offer support to foreign enterprises, including those from Mongolia, to coordinate with Hanoian partners”.
The host also wished that during his tenure, the ambassador would accelerate the effective cooperation activities between Hanoi and Ulan Bator as well as Vietnam and Mongolia. He suggested enhancing bilateral tourism and labor cooperation and expressed his belief that the ambassador would fulfill his assigned tasks to contribute to the developing bilateral ties.
Dash, for his part, vowed to do his best to lift bilateral cooperation on par with the two capitals’ potential.

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2017 budget adjustment bill moves to second discussion www.montsame.mn

Ulaanbaatar /MONTSAME/ A plenary meeting of the parliamentary session held Thursday carried out first discussion of the bill on 2017 state budget adjustment.

According to parliamentarians, the 2017 budget revenue performance has surpassed by over MNT 900 billion and amendment is to be made in the budget to distribute the revenue of MNT430 billion.

Some MPs suggested to spend the money for raising salaries of teachers and doctors while Ch.Ulaan MP expressed his opposition to distribute the money.

“Budget adjustment should be made to improve budget indicators. However we are talking about distributing some extra money gained than expected, when the 2017 budget deficit reached MNT2.7 trillion which is the biggest deficit in history of Mongolia. We should consider it seriously,” he said.

As the first discussion of the budget adjustment bill concluded, the bill has been transferred to the second hearing.

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Petro Matad signs seismic work deal in Mongolia www.pipelineme.com

Petro Matad, a Mongolian exploration company, said it has signed a preliminary deal with a unit of China National Petroleum Company for 3D seismic survey in the Tugrung Basin of Block V in Mongolia.

The company will begin a comprehensive 3D seismic programme for BGP Inc., which will include additional 2D seismic focused on adjacent leads of the Tugrug Basin and a new basin in Block IV, Petro Matad said in a statement. It also expects to add further drillable prospects to its growing exploration portfolio.

The planned 218 square kilometre 3D survey will focus on defining and de-risking near term drilling targets within the Tugrug Basin which could contain over 3 billion barrels of oil in place and additional potential within stratigraphic traps, it said.

The Tugrug Basin has a proven working petroleum system confirmed with a stratigraphic core hole drilled by the Company in 2011 near the basin margin. The core-hole contained live, un-biodegraded oil in good quality sandstone reservoirs.

Petro Matad said the 3D survey will cover the key prospects and leads, which are part of the primary structural play fairway within the basin, identified on existing 2D seismic data. The survey is also expected to image a major stratigraphic play fairway, which has been proven in prolific petroleum producing plays in Africa, India and the Falkland Islands, to name a few. In addition, 150km of new 2D seismic data are also planned in the Tugrug Basin to better define other leads and prospects.

In addition, 204km of new 2D data is planned over the Khangai Basin in the northern part of Block IV. This survey aims to better define some attractive leads identified on regional 2D seismic gravity and magnetic surveys acquired in 2015. 

BGP has started mobilisation and expects to begin work on the blocks in late October 2017, Petro Matad said, adding that it expects the results of the survey to advance farmout discussions currently taking place.

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Monaco-Mongolia expedition makes important discovery www.monacolife.net

The 12th Monaco-Mongolia Archaeological Campaign, conducted jointly by the Museum of Prehistoric Anthropology of Monaco and the Mongolian Academy of Sciences in the Mongolian steppes, made significant discoveries, including bronze arrowheads, ceramics and bones during its latest expedition.

The most remarkable piece, dating back more than 2000 years, is a bronze cauldron. During the excavation of a tomb at the site of Tsatsyn Ereg, archaeologists discovered the cauldron containing a wooden spoon.

According to the scientists, this object, dating from the second century BC, was buried near a human body, in a pit three-metres deep with a series of other artefacts. This would probably have been the burial site of a nomadic rider, many of whom crossed the Great Wall of China to sow terror among the Chinese peasantry.

The search of the contents of the cauldron will be carried out in a laboratory in order to clear the instrument and to try to discover the traces of any possible substance.

Funded by the Monaco Government since 2006, the Monaco-Mongolia joint missions, under the patronage of HSH Prince Albert and under the aegis of UNESCO, are carried out each summer by the teams of Jamyian-Ombo Gantulga, head of the Institute of Archeology of the Academy of Sciences of Mongolia, and Jérôme Magail of the Museum of Prehistoric Anthropology of Monaco.

The two teams cooperate on three sites in the Arkhangai province: Khunnu of Gol Mod, the Buddhist monastery of Zayan Khüree and the Bronze Age necropolis of Tsatsyn Ereg, on which a research and exhibition centre was built two years ago with the support of the Prince’s Government.

Elisabeth Gramaglia Gondeau, Honorary Consul of Mongolia in Monaco, has visited the site of Tsatsyn Ereg for the third time, which has just been inscribed on the UNESCO World Heritage Tentative List thanks to the work of the archaeologists.

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Mongolia ushers in new prime minister www.asia.nikkei.com

BEIJING -- The Mongolian legislature installed a new prime minister Wednesday, bringing into focus the potential implications for diplomatic relations with North Korea as well as neighboring Russia and China.

Khurelsukh Ukhnaa, the deputy prime minister from the ruling Mongolian People's Party, took office after a confirmation vote in the parliament. He succeeds Erdenebat Jargaltulga, who was ousted by the legislature last month in a no-confidence vote.

Mongolia is known to be friendly with North Korea, taking in workers from the reclusive state. Amid international efforts to clamp down on the North's nuclear and ballistic missile programs, attention will turn to the new prime minister's ability to parlay his country's own diplomatic channels in addressing the issue.

Japanese Prime Minister Shinzo Abe spoke with Mongolian President Battulga Khaltmaa in September, with the two leaders agreeing on the importance of implementing United Nations Security Council sanctions against Pyongyang. They also reaffirmed cooperative efforts toward returning Japanese nationals abducted in the past by North Korea.

While the Mongolian president is officially head of state and wields veto power, the prime minister holds sway over national policy as head of government. The focus will be on how the two leaders work together.

Khurelsukh, 49, has a military background and has built connections to North Korea. He first won election to the parliament in 2000 and has served as minister for emergency situations and elsewhere in the cabinet. He is seen as having initiated the push to unseat Erdenebat while deputy prime minister.

The new prime minister must also deal with the looming debt crisis that led to his predecessor's downfall. Erdenebat agreed to a $5.5 billion bailout from the International Monetary Fund earlier this year that came with a set of austerity measures. Angry voters responded by electing Battulga -- an opposition candidate -- as president in July.

A portion of Mongolian sovereign debt will reach maturity in early 2018. But to refinance the bonds or take other stopgap measures, Khurelsukh needs to restore the nation's creditworthiness -- a task that entails fiscal reform. Balancing that initiative against the will of the people will put his political skills to the test.

 
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Mongolia has a new Putin-esque prime minister who is also the head of a Harley-Davidson fan club www.businessinsider.com

Mongolia’s parliament has unanimously confirmed Ukhnaagiin Khurelsukh as the nation’s new prime minister.

The colourful leader, and president of Ulaanbaatar’s Harley-Davidson fan club, earned the nickname “Fist” after punching a colleague in 2012. He has also gotten a Putin-esque reputation for posing shirtless photos while riding horseback and posing with hunting guns.

Khurelsukh began his career in 1989 as a political officer in a military unit before moving into politics a year later. He was first elected into parliament in 2000 and has served as the country’s deputy prime minister twice.

Mongolia’s previous prime minister, Jargaltulgiin Erdenebat, was ousted by parliament a month ago after allegations of corruption — a claim he vigorously denied. Both ministers are members of the ruling Mongolia People’s Party that, in 2016, won an overwhelming number of seats, 65 out of a possible 76. However, it is not uncommon for Mongolia to regularly overhaul it’s leadership. Since elections in 1992 there have been 15 cabinets, each lasting 18 months on average, and no prime minister has served their full four-year term since 2004.

Former prime minister Erdenebat criticised the trend after his voting out: “Although, some of us point to foreign investments as economic killers, in reality we politicians are the internal killers of our economy and suffocate our own growth.”

Despite its role as a key coal supplier to China, mineral-rich Mongolia has significant debt pressures and the selection of a new prime minister will put the IMF’s $5.5 billion economic rescue package back on track.

Mongolia also has open dialogue and diplomatic ties with all key regional nations in Central Asia — including China, Russia, South Korea and even North Korea — which has made it a central nation for hosting international discussions and promoting regional peace.

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Li congratulates Mongolia's new prime minister www.news.xinhuanet.com

BEIJING, Oct. 4 (Xinhua) -- Chinese Premier Li Keqiang on Wednesday sent a congratulatory message to Khurelsukh Ukhnaa on his assuming office as Mongolia's new prime minister.

China and Mongolia are close neighbors linked by mountains and rivers, Li said in his message, adding that bilateral relations face significant development opportunities.
The Chinese side attaches great importance to China-Mongolia relations and is ready to join efforts with Mongolia to increase political mutual trust and deepen practical cooperation and exchanges in various fields so as to push for greater development of the comprehensive strategic partnership between the two countries, Li said.

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Mongolia names biker enthusiast PM, kick-starting IMF rescue package www.reuters.com

ULAANBAATAR (Reuters) - Mongolia’s parliament confirmed the nomination of motorbike enthusiast Ukhnaa Khurelsukh as prime minister on Wednesday, putting the country back on track to receive funds from a $5.5 billion IMF economic rescue package.

Khurelsukh, of the ruling Mongolian People’s Party (MPP), received unanimous approval from the lawmakers in attendance for his confirmation as Mongolia’s 30th prime minister.

He will face challenges in bringing back foreign investment to the mineral-rich former Soviet satellite and manage the country’s heavy debt load.

The International Monetary Fund has approved an economic bailout program to help relieve debt pressures and buoy the currency, the tugrik, that includes austerity policies.

An IMF visit to review the program that included the disbursement of $37.82 million of the funds was delayed in September until a new government was formed.

The IMF had said that once a new government was in place, it would engage with the authorities on how best to move forward with the program.

Khurelsukh succeeds Jargaltulga Erdenebat, who was voted out of office in September amid allegations of corruption and incompetence.

The new prime minister holds the title of colonel, although he only served in the military from 1989 to 1990.

“He projects a tough rule of law image,” said Dale Choi, head of Altan Bumba Financial Group. “He’s a very tough and strong guy himself. I think the electorate likes it very much.”

Khurelsukh, 49. is seen as a leader to the party’s so-called “youth faction” and is also a noted motorcycle enthusiast. He is president of the fan club for Harley-Davidson in Ulaanbaatar.

Mongolia’s democracy has been turbulent since its transition from a socialist state in 1990, and no premier has completed a four-year term since 2000.

Government infighting and reshuffles have contributed to the delays of development projects.

The closest Mongolia came to handing over the operations of state-owned Erdenes Tavan Tolgoi coking coal mine to a consortium of Mongolian Mining Corp, China Shenhua Energy and Sumitomo Corp was in 2015, before the parliament speaker stepped in to block the deal.

“We would hope to see the new government advance the privatization of Tavan Tolgoi,” said Thomas Hugger CEO and a fund manager at Asia Frontier Capital.

Mongolia’s coal miners are looking to ramp up production to meet growing demand from China, but longstanding transportation issues continues to hold back sales.

Mongolia’s proximity to China means it could play a large role in coal supply to China, said Hugger, if a key railway is built.

“There’s no reason Mongolia shouldn’t be the largest supplier of coking and thermal coal to China.”

 
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October 4, 2017 trading report www.mse.mn

On October 4, 2017, 70,814 shares worth MNT 576.7 million of 27 firms listed as Tier I, II, and III were traded. 10 firms’ shares increased, 12 decreased in price and 5 remained unchanged. Mongol Nekhmel JSC was the top performer, increasing 13.79 percent, whereas Khanyn Material JSC was the worst performer, decreasing 12.0 percent.

On the primary market for government securities, 4,751 bonds worth 448,554,000 were issued.

On the secondary market for corporate bonds, 763 bonds worth MNT 76,299,000 were traded.

The MSE ALL Index rose 00.13 percent to stand at 1071.88. The MSE market cap stands at MNT 2,075,393,995,429 .

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Loan interest of nonbank financial institutions lowered to 3.5 per cent www.montsame.mn

Ulaanbaatar /MONTSAME/ In the second quarter, a total of 480 non-bank financial institutions, which hold special license, issued loans with the weighted-average monthly interest of 3.5 per cent, which means lower by 0.6 points than the previous quarter, reported the Financial Regulatory Commission.

Non-bank financial sector had unpaid loans of MNT554.9 billion in the second quarter, went up by MNT76.7 billion compared to the beginning of the year and up by MNT142.9 billion compared to the same period of last year.

Non-performing loans total to MNT72.2 billion or makes up 13 per cent and outstanding loans make up 5.9 per cent, while performing loans make up 81.1 per cent out of the unpaid loans.

Nonperforming loan amount increased by 21.5 per cent from the beginning of the year and up by 47 per cent compared to the same period of last year.

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