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Ulaanbaatar /MONTSAME/ During the week spanning February 26 to March 02, 2018, MNT1,635,201,757 worth of securities were traded through 5 trading sessions on the MSE. The daily average MNT volume was MNT327.0 million.
1. STOCK TRADING:
A total of 97 companies’ 612,679 shares worth MNT584,636,717 were traded.
Most actively traded stocks:
№ Symbol Securities Name Volume Amount
1 TTL TAVANTOLGOI 30,444 296,458,820
2 APU APU 167,685 111,206,456
3 GOV GOBI 2,005 45,859,860
4 MNP MONGOL POST 32,704 17,867,323
5 ITLS ITOOLS 139,250 17,066,570Most active brokerage firms:
№ Symbol Company Name Volume Amount
1 BDSC BDSec 252,279 436,025,403
2 LFTI Lifetime Investment 17,677 141,517,284
3 GLMT Golomt Capital 232,633 125,643,905
4 BUMB Bumbat-Altai 66,278 79,891,300
5 STIN Standart Investment 144,672 71,427,348
2. GOVERNMENT SECURITIES TRADING:
No government securities were issued on the primary market during the week spanning February 26 to March 02, 2018.
On the secondary market trading of Government securities, 10,073 units of securities were traded for MNT 1,050,565,040 through 14 trading sessions.
Most active brokerage firms for Government securities secondary market trading:
№ Symbol Company Name Volume Amount
1 BZIN Mirae Asset Securities Mongolia 19,488 2,034,091,880
2 BDSC BDSec 460 46,901,600
3 GAUL Gauli 198 20,136,600
3. CORPORATE BONDS TRADING:
Most active brokerage firms for Corporate bonds secondary market trading:
№ Symbol Company Name Volume Amount
As of March 02, 2018, total market capitalization of MSE is MNT2,455,629,147,724. The TOP-20 index decreased by 3.12% to stand at 19,616 units.
Source: Mongolian Stock Exchange
The International Commission against the Death Penalty (ICDP) has named former President of Mongolia Ts.Elbegdorj as its new Commissioner. In a welcoming address, said ICDP President Judge Navi Pillay said: “I am very happy that President Tsakhiagiin Elbegdorj is joining the members of the ICDP in our struggle to make the world free of the death penalty. Having been one of the leaders of the peaceful revolution that ended the dictatorship in 1990, Mr Elbegdorj was Mongolia´s Prime Minister in 1998 and again from 2004 to 2006 and President of Mongolia from 2009 to 2017.
“I am particularly pleased to note that President Elbegdorj showed great political leadership and will in leading Mongolia to abolishing the death penalty during his Presidency. In 2010, President Elbegdorj commuted all death sentences and announced a moratorium on all executions. In 2012, Mongolia ratified the Second Optional Protocol to the International Covenant on Civil and Political Rights, an international treaty committing the country to the abolition of the death penalty. On 1 July 2017, Mongolia became death penalty abolitionist when its new Criminal Code, which abolishes the death penalty for all crimes, became effective after it was initially adopted bythe Mongolian Parliament on 3 December 2015. The abolition of the death penalty in Mongolia, which represents a beacon of hope in the North-east Asian region, is truly President Elbegdorj´s legacy. “By his decisive actions and leadership in furthering his country´s respect and protection for the fundamental right to life, and by his important interventions in international forums, President Elbegdorj has emerged as a much respected voice in favour of the abolition of the capital punishment. I believe that Mr. Elbegdorj´s expertise, experience and international prestige will be outstanding assets for our Commission and we look forward to work with him. I join my fellow Commissioners in welcoming him”
The International Monetary Fund (IMF) has joined criticism of Donald Trump's plan to impose a 25% tariff on steel imports and 10% on aluminium.
The body warned that such a move would hurt the US as well as other countries.
It said others could follow the US president's precedent by claiming tough trade restrictions were needed to defend national security.
Canada, the largest supplier of steel to the US, said tariffs would cause disruption on both sides of the border.
It is one of several countries that have said they will consider retaliatory steps if the president presses ahead with his plan next week.
If trade wars really were good and easy to win, the World Trade Organisation probably wouldn't exist.
Most countries believe that negotiations are best carried out and disputes settled through a rules-based system. Introducing trade barriers on a tit-for-tat basis has the potential to harm companies on both sides.
But that's unlikely to bother Mr Trump. His campaign rhetoric drew heavily on the perceived threat to traditional US industries from foreign interlopers acting unfairly. He's simply continuing in that vein.
And it's unlikely to register much with the steelworkers of Pennsylvania and Indiana. Concerned about their jobs and the future, many will welcome Mr Trump's comments.
How does the Trump administration respond?
Mr Trump tweeted on Friday morning that the US was "losing billions of dollars on trade" and would find a trade war "easy to win".
Critics argue that the tariffs would fail to protect American jobs and ultimately raise prices for consumers.
But US Commerce Secretary Wilbur Ross used a can of Campbell's Soup to defend the tariffs on Friday morning as "no big deal".
He told CNBC the duties would have a negligible effect on the price of a tin, amounting to less than a cent.
"Who in the world is going to be too bothered?" he asked.
Who else is unhappy?
Canada, Mexico, China, Japan and Brazil also say they are considering retaliatory steps.
The prime minister of Canada - which exports more steel to the US than any other country - slammed the tariffs as "absolutely unacceptable".
Justin Trudeau told reporters in Ontario he was "confident we're going to continue to be able to defend Canadian industry".
A Chinese foreign ministry spokesman said: "If all countries followed the example of the United States, [it] will undoubtedly result in a serious impact on the international trade order."
Kosei Shindo, chairman of the Japan Iron and Steel Federation, said that the move would "create a negative chain reaction affecting not only steel but also other products considered to have national security implications".
Many US companies also expressed alarm, including beer brewers, which use aluminium for canned beverages.
Anheuser-Busch InBev NV, the world's largest beer maker, warned that Mr Trump's plan was "going to put jobs at risk and would be against the US consumer".
Mr Trump has lamented the decline of the US steel industry, which since 2000 has seen production drop from 112m tons to 86.5m tons in 2016.
The number of employees working in the sector has fallen over the same period from 135,000 to 83,600.
But experts say far more Americans work in industries that depend on steel products than are employed in steel plants.
Steel mills in 2015 employed about 140,000 Americans, according to census data.
But 6.5 million Americans work for manufacturers who make things using steel....
Smoke-free Ulaanbaatar Forum – 2 was held by Bloomberg TV Mongolia and Capital City Governor’s Office yesterday. It addresses the country’s urgent problem of smoke.
The forum touched upon clean air topics during the panel discussions of New Planning, Made in Mongolia and Accessible Funds, and involved representatives of the government, non-government organizations, private sectors, banking and financial sectors, as well as public representatives to discuss measures taken, to be taken in the future and various ways to resolve the problem. The AQI of Ulaanbaatar is currently around 2 - 5 thousand, which exceeds the hazardous level. The incidences of respiratory diseases in Ulaanbaatar alarmingly increased including a 2.7-fold increase in respiratory infections per 10,000 population in the last 10 years. Pneumonia is now the second leading cause for underfive child mortality in Mongolia.
Purevdavaa Davaakhuu, Advisor to the President of Mongolia in charge of policies on environment, urban and rural developments and issues of air pollution, sees that the reasons of air pollution are centralization, poverty and unemployment.
He stressed that ger district, which produces 80 percent of the air pollution as they fuel raw coal, is growing in size. He made a critical address towards several government policies, "Policy on regional development was mistaken as it did not address development of satellite towns. It needs to have renewed longterm urban planning that includes establishment of satellite towns around metropolis of Ulaanbaatar,” remarked Mr Purvedavaa.
He added that MNT19-32 billion were accumulated to the state budget from the tax on smoke producing sources since 2008. But small portion of the amount were allocated to reduce the smoke related problems. Last year, a total of MNT17 billion was collected to the budget from taxex on smoke producing sources. Although, MNT5 billion was allocated to the actions on air pollution reduction, only MNT4.5 billion were spent for the purpose.
Furthermore, the Mayor of Ulaanbaatar city has made decisions to stop consumption of raw coal and stop domestic migration to ger districts in Ulaanbaatar from rural areas in order to reduce centralization.
Other panelists suggest that it is important to improve living standard by reducing unemployment. “The effectiveness of the expenditure for reducing smoke should be evaluated with numbers of generation of workplaces that used technology achievements,” highlighted MP Uchral Nyam-Osor. He adds that there is a need to support the development of industrialization and entrepreneurship. He then added that there is a need to address the problem and solve in integrated way by producing sound laws, such as the amendments to the Law on Legal Status of Ulaanbaatar, regarding the satellite towns.
Another panelist, Dulamkhorloo Baatar, Editor-in-Chief of the Official Gazette, urges to take resolute measure. “I believe that there is no family with children of early age, who have been sick and hospitalized because of respiratory diseases. Therefore, their parents have to ask for leave of several hours to several days from their employees,” she remarked.
Mrs Dulamsuren requires that the government should make clear policy and provide environment for implementing programs and projects presented regardless of the party. Naidalaa Badrakh, Head of Green Climate Fund Project Team, informs that there is no problem finding financial sources to fund eco-friendly and greenhouse gas reducing projects.
Green Climate Fund GCF is a financial mechanism under the UNFCCC which helps fund climate finance investment in low-emission, climate-resilient development through mitigation and adaptation projects and programmes in developing countries. They have a ready to implement project that will provide 100 thousand households with energy and insulation efficient houses worth MNT25-40 million utilizing eight percent mortgage loan program for up to 10 year term. He called to involve interested parties to implement this project. Currently there are 216 thousand households living in the ger district.
About a year ago, the Parliament issued the 23rd resolution and reached a decision to nationalize the 49 percent ownership of Erdenet Mining Corporation (EMC). Considering this action as a violation to the Constitution of Mongolia, some people have appealed to the Constitutional Court. Accordingly, the Constitutional Court proceeded a ruling yesterday and confirmed the 23rd resolution of the Parliament did not violate the Constitution.
The rapporteur of the Constitutional proceedings was Sugar Dulam, who was one of the people who signed the approval of collateralization of EMC's 51 percent ownership to Standard Bank of South Africa. It has to be noted that Sugar, a member of the Constitutional Court, was the Chairman of the State Property Committee back then.
Looking at the justification of the appealing party, the 49 percent stake of EMC never belonged to the Government of Mongolia. The dispute began when the Government violated the private property rights by nationalizing the 49 percent stake, which was purchased from another country by a private entity.
The Constitutional Court’s ruling of the 23rd resolution of the Parliament:
Article 1.2 states “Democracy, justice, freedom, equality, ... the rule of law are the basic principles of the public service.”
Article 5.2, “The State … accepts any form of private property and protects the rights of ownership”,
Article 5.3, “Rights of the owner may be limited only by the grounds provided by law.”,
Article 16.3, “Fair acquisition, possession and ownership of movable and immovable property is inheritable. It is prohibited to confiscate or requisite private property. If the State takes its private property on the basis of essential social needs, the State shall pay the compensation and the price.”
Article 70.1, “In the Constitution ... decisions of the public body should be fully complied with one another.”
Although it may seem as a property dispute between the Government and private sector, it was a proceeding to decide whether if Mongolia could protect at least half of its ownership or lose 100 percent of its stake.
The London Court of International Arbitration (LCIA) has suspended EMC’s 51 percent due to the claim of Just Group collateralizing the stake to South African Standard Bank. While the company is operating normally, its foreign accounts have been suspended, resulting in a risk of no-income. However, Minister of Justice and Home Affairs Nyamdorj Tsend and Chief of Cabinet Secretariat Zandanshatar Gombojav announced that the factory is facing no risk.
ROSATOM and Nuclear Energy Commission of Mongolia Signed Memorandum of Cooperation on Centre of Nuclear Science and Technology Construction www.globalenergyworld.com
The Memorandum was signed in Moscow during the Russian-Mongolian intergovernmental commission. On behalf of the Russian side the document was signed by ROSATOM’s Deputy Director General for International Relations Nikolay Spassky. The government of Mongolia was represented by secretary of National Energy Commission Gun-Aajav Manlaijav.
The main objective of the Memorandum is developing mutually beneficial cooperation in civil nuclear energy use and designing a Centre of Nuclear Science and Technology (CNST) blueprint. According to the document, Russian specialists will provide assistance to the Mongolian side in determining preliminary requirements and the configuration of CNST facilities. The Memorandum framework also involves the two sides designing a preliminary road map for the CNST project.
It is expected that specialized expert groups will be established to organize the working processes in these areas.
Ulaanbaatar /MONTSAME/ The 2018 Mongolia Mining international mining & oil expo will be held on April 4-6 in Ulaanbaatar, focusing on non-ferrous metals.
The 8th edition of the international exhibition will be held under the theme ‘World Technology is Coming’ at the Buyant Ukhaa Sport Palace.
More than 120 exhibitors from countries such as China, Russia, the Czech Republic, Australia, Kazakhstan, Sweden, Japan, Germany, South Korea, France and Canada will be introducing the latest technology and equipment in the mining industry.
The number of exhibitors has visibly increased this year, especially companies from Canada, the Czech Republic and the United Kingdom, said the organizers.
Moreover, the investors, suppliers and guests attending the international exhibition will be introduced to the mineral industry of Mongolia. In specific, there will be a seminar on government policy in mining sector in addition to presentations delivered by the exhibitors.
While highlighting non-ferrous metals, the event will be attended by not only representatives of the mining sector, but also of road and construction sector, thus offering good networking opportunities to the exhibitors.
The expo, dubbed as the biggest mining expo in Mongolia, is jointly organized by Minex Mongolia Co., Ltd, Expo Mongolia Co., Ltd., and International Expo Bureau of Mongolia and sponsored by Transwest Mongolia LLC, and Wagner Asia Equipment LLC.
The growth rates of the Russian economy should exceed global figures, which is the basic condition for a breakthrough, Russian President Vladimir Putin said in his address to the Federal Assembly.
“Increasing the country's economic potential is the main source of additional resources. For this we need an economy with growth rates exceeding the global level,” he said. “This isn't just a wish, but a basic condition for a breakthrough in resolving social, infrastructure, defense and other tasks.”
An increase of the gross domestic product (GDP) per capita by 1.6 times by mid-2020 is one of the key tasks, according to the president.
“This is a very challenging task but I am confident that we are ready to solve it.”
Putin also stressed the necessity to reduce the public sector’s share of the economy.
“To let the economy work at full capacity, the business climate must be improved dramatically, with the highest level of business freedom and competition.”
The president set a goal to cut poverty minimum in half in the next six years, saying the well-being of Russians and their families should be the top priority.
The US Trump administration says China is not playing fair and is threatening to do whatever it takes to protect the free market system.
The comments appear in a document issued by the United States Trade Representative. The annual report says, "China has a statist economic model with a large and growing government role."
It says, "China is free to pursue whatever trade policy it prefers," but that the United States is also "free to respond."
The report warns the US government will "use all available tools to discourage China" from "undermining true market competition."
The US has repeatedly accused China of overproducing steel and infringing intellectual property rights
WASHINGTON, March 1 (Xinhua) -- U.S. President Donald Trump said here on Thursday he would impose tariffs on imports of steel and aluminum, in a move he said would protect U.S. industry, but which experts said could hurt U.S. producers and face legal challenges from trade partners.
The United States is set to impose 25 percent of tariff on steel imports products and 10 percent on aluminum, Trump said after a meeting with business executives at the White House.
"We'll be signing it next week. And you'll have protection for a long time in a while," said Trump.
News of the tariffs immediately hit sentiment on the Wall Street, with the Dow slumping over 500 points, more than 2 percent, in late trading.
In response, Canadian Trade Minister Francois-Philippe Champagne said that any U.S. tariff or quota imposed on Canada's steel industry would be "unacceptable."
Daniel Ikenson, a senior fellow at the Cato Institute, said on Thursday that trade restrictions could hurt U.S. producers by exposing them to competitions from foreign rivals with lower production costs capable of offering lower prices in the U.S. market.
U.S. actions would face legal challenge by other World Trade Organization members, and they would also invite other members to invoke national security to protect favored industries, said Ikenson.
European Union (EU)'s trade chief Cecilia Malmstrom has said that the EU would seek retaliation measures if the Trump administration's 232 trade investigation brings damage to European steelmakers.
It's still unknown whether Trump's announcement on Thursday refers to blanket tariffs for all countries.
In April last year, Trump ordered the Commerce Department to study the impact of steel and aluminum imports on national security under seldom-used section 232 of the 1962 Trade Expansion Act.
Two weeks ago, the Commerce Department unveiled its recommendations for Trump to restrict imports of steel and aluminium products due to national security concerns, which drew oppositions from U.S. lawmakers and businesses.
According to recommendations by the Commerce Department, the United States could introduce at least 24 percent tariff on all steel imports from all countries and at least 7.7 percent tariff on all aluminium imports from all countries.
Trump's announcement was higher than both recommendations.
Wendy Cutler, former Acting Deputy U.S. Trade Representative and now vice president at the Asia Society Policy Institute, said "the imposition of tariffs on steel and aluminum will also reverberate throughout the U.S. economy and possibly negate some of the benefits of the recent tax cuts."