|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
Ulaanbaatar/MONTSAME/ On May 1, President of Mongolia Khaltmaagiin Battulga received Erdenes Tavan Tolgoi JSC leaders, led by Chairman of the Board of Directors U.Byambasuren and acting Executive Director B.Gankhuyag. Beginning the meeting, the President extended congratulations to the Board and the company’s hundreds of workers for being ranked at the second place of TOP 100 Entities of Mongolia.
As mentioned in the presentation by Chairman of Board U.Byambasuren, the company has 15 billion admitted shares, of which 12 billion were issued. The Government owns 65 percent of the issue shares, and 14.6 percent or 2.511 million shares are owned by citizens, 0.06 percent, owned by entities. In the fiscal year of 2017, ETT made net profit of MNT 461.1 billion and accumulated profit of MNT 36.0 billion.
The company held a shareholders’ meeting on April 27th of 2018 and decided against distributing dividends. However, it has been estimated that MNT 3,000 would be distributed to each citizen that holds the company’s share. As per the calculation, several alternatives have been formulated.
After the presentation, President Battulga said: “The locally owned company known as ‘small Tavan Tolgoi’ has distributed profit of MNT 90.0 billion. Meanwhile, regardless of its performance that resulted in MNT 461.1 billion after taxes, Erdenes Tavan Tolgoi is being negligent when it comes to distribution of profit. I understand that you have considered an option of giving away dividends, but the amount totals to MNT 3,000 per shareholder. This would not appropriate. Therefore I am putting forward an alternative."
“Today, ordinary citizens possess 14.6 percent of all shares. The percentage must be increased to 100 percent. A draft law is going to be submitted to the parliament on this issue. If adopted, the law will enable distribution of profits of not MNT 3,000, but MNT 300,000 and more. If the Parliament resolves to distribute shares to 100 percent of citizens, the mission of zeroing people’s debts, which mission was tasked to me upon my nomination to the Presidential election, would become possible through several years of profit distribution. It would also be a harmonious implementation of 6.1. of the Constitution, which provides that natural resources are the property of the people,” highlighted the President.
Present at the meeting was also the Chief of the Presidential Office, Mr. Z.Enkhbold. He remarked that Erdenes Tavan Tolgoi is a possession of the citizens according to the law, and therefore, the company needs to distribute dividends.
According to a latest survey conducted by Sant Maral Foundation and sponsored by Konrad Adenauer Foundation, Mongolian President Battulga Khaltmaa led the ratings of Mongolian politicians. In the poll, a total of 1200 respondents from the Capital City of Ulaanbaatar, Uvs, Sukhbaatar, Bayankhongor, Khuvsgul, Dundgobi and Selenge aimags were involved.
Sant Maral Foundation releases politbarometer of March
33.6 percent of surveyed in Ulaanbaatar and 25.8-56-9 percent in Sukhbaatar, Selenge and Bayankhongor aimags voted for Mr. Battulga. In Khuvsgul and Dundgobi, the President was ranked second and third with 30.4 and 25.4 percent votes respectively.
Chairman of the Mongolian People’s Revolutionary Party (MPRP) Enkhbayar Nambar, MPRP’s nominee for President in 2017 Ganbaatar Sainkhuu and Chairman of Mongolian People’s Party and Prime Minister Khurelsukh Ukhnaa followed the current president.
Agreement between the Governments of Mongolia and Russian Federation on Railway Transit Transportation, which will reduce tariff of mining materials up to 93 percent for 25 years from Mongolia to third countries through the Russian Federation has been prepared, announced A.V. Lushnikov, Deputy Minister of Transport of the Russian Federation during his meeting with Tsogtgerel Batchuluun, Deputy Minister of Road and Transportation Development of Mongolia.
Mr. Lushnikov is also a full right representative of the Far Eastern Federal District for the Russian President and was among the delegation headed by Yu. P. Trutnev, Minister of the Far Eastern Development, who paid a visit to Mongolia at the end of last week.
In addition, he also expressed that Russia is ready to render all support to Mongolia’s actions in the territory of the Russian Federation, especially in the Far East region of the country. According to Mr. Lushnikov, the agreement includes tax reductions and supports from local administrations.
Moreover, he noted that trade turnover between Mongolia and Russia is now only USD 1.7 billion and is in need for active measures to increase. Trade with the Far Eastern Federal District totals USD 42 million and is highly dissatisfying. Therefore, he called for the transportation ministers of both countries to cooperate actively with initiatives in order to increase trade by 12 times to USD 500 million in the first few years.
In a statement issued by the Ulaanbaatar Railway, it is expected that the agreement will be signed during a nearest government official’s visit of the two countries. The next high-level meeting is expected to be Mongolian Prime Minister’s visit to Russia for the Saint Petersburg’s Economic Forum, which will take place near the end of May.
Home minister Rajnath Singh will visit Mongolia soon, with India drawing up a plan to step up bilateral ties across sectors following the visit of external affairs minister Sushma Swaraj to Ulaanbaatar in the last week of April, officials familiar with the developments said.
India’s plans to deepen ties with Mongolia, sandwiched between Russia and China, comes at a time when Beijing is expanding its influence in Delhi’s periphery in South Asia, with analysts terming Indian push as an instance of ‘politico-diplomatic astuteness’.
Swaraj’s visit was the first visit by Indian foreign minister to Mongolia in 42 years. Prime Minister Modi had visited Mongolia in 2015 and a plan for a comprehensive partnership was in the works since then, the officials indicated.
“The visit of PM Modi in May 215 to Mongolia saw the two countries raising the partnership to a strategic level. Now that the two countries would be further deepening the ties across sectors,” said a government official who asked not to be named.
According to the agreed minutes of India-Mongolia joint committee, which Swaraj co-chaired on April 25, the two countries have agreed to promote the links between ministries and agencies from both sides, including closer ties between their national security councils.
“The two sides take part in joint exercises and they wish to step up the security cooperation. The forthcoming visit of home minister Rajnath Singh comes in this context,” said another official on condition of anonymity.
New Delhi will be hosting senior government officials from Mongolia at premier Indian institutes to train them in public policy and governance, said the minutes of the committee. For example, the Foreign Service Institute, which trains Indian diplomats, will host training programmes for Mongolian diplomats as well.
The two sides also decided to step up the cooperation in the mineral exploration sector and to speed up the plans to set up an oil refinery in Mongolia with an Indian line of credit of $ 1 billion. The two sides also agreed to explore the possibility of direct air connectivity and cooperation in the fields of telecommunication, education and health.
Commodore (retd) C Uday Bhaskar, director of the Society for Policy Studies, said that strengthening ties with Mongolia was ‘long overdue’. “It makes for strategic prudence for Delhi to invest in and be engaged with Mongolia. India’s Buddhist profile is very revered in that country.”
When asked if the China factor was behind India’s engagement, Bhaskar said, “Even if this is not stated explicitly, political geography is not an existential reality. Politico-diplomatic astuteness lies in maximising small opportunities and margins when they present themselves. Delhi has been diffident for decades.”
South Korean operator KT has announced that it has sold its entire stake of 40 percent in Mongolia Telecom Company (MTC) to the government of Mongolia, putting the operator back in full state control. No financial details related to the transaction have been disclosed....
Air pollution is involved in the deaths of around seven million people every year, with the vast majority of fatalities taking place in poorer countries.
The latest figures released by the World Health Organisation (WHO) show that nine out of 10 people are breathing air containing dangerous levels of pollutants.
These results largely echo those released in another global air pollution report in April, and experts have once again pointed to the particular burden falling on the world’s most vulnerable people.
“Air pollution threatens us all, but the poorest and most marginalised people bear the brunt of the burden,” said Dr Tedros Adhanom Ghebreyesus, director-general of WHO.
The new figures come as reports emerge concerning residents of Mongolia’s capital, Ulaanbaatar, drinking “oxygen cocktails” in an effort to ward off the harmful effects of air pollution.
Ranked by Unicef as the most polluted capital city in the world, Ulaanbaatar is one of the many Asian and African cities highlighted as particularly susceptible to the toxic effects of air pollution by WHO.
According to Dr Maria Neira, who leads public health efforts at WHO, many of the world’s megacities – such as Beijing, Delhi and Jakarta – exceed guideline levels for air quality by more than five times.
However, since 2016 – the year the new figures were calculated for – more than 1000 new cities have been added to WHO’s air pollution database, suggesting more and more countries are taking an active interest in monitoring and controlling pollution levels.
"Oxygen cocktails" in Ulaanbaatar
To cope with pollution in the Mongolian capital, residents have taken to drinking "lung tea" and "oxygen cocktails"
WHO experts have insisted that these bubble-infused drinks have no medical benefit, but people are desperate and say the government is not doing enough to protect their health
Drink brands with names like “Life is Air” compare their benefits to “walks in lush forests”
Ulaanbaatar was ranked the world’s most polluted capital city in a 2016 report by Unicef
The city’s air pollution problem is exacerbated by its poorer residents’ reliance on high-polluting coal stoves
The database now stands at over 4300 cities, making it the most comprehensive of its kind in the world.
There has also been an increase in air pollution monitoring from low- and middle-income countries in recent years – where the figures suggest more than 90 per cent of air pollution deaths are occurring.
“Political leaders at all levels of government, including city mayors, are now starting to pay attention and take action,” adds Dr Tedros.
“The good news is that we are seeing more and more governments increasing commitments to monitor and reduce air pollution as well as more global action from the health sector and other sectors like transport, housing and energy.”
WHO’s measures of air pollution focus specifically on concentrations of fine particulate matter, which are linked with diseases including stroke, heart disease and lung cancer.
“Imagine those pollutants getting very deep into your lungs and cardiovascular system and causing the terrible figure today, which is 7 million premature deaths every year,” said Dr Neira.
While generally speaking air pollution is not the primary cause of someone’s death, experts agree that it certainly contributes to diseases and shortens lives.
“There is no doubt that air pollution represents today not only the biggest environmental risk to our health, but I would also clearly say this is a major challenge for public health at the moment – probably one of the biggest ones we are contemplating,” said Dr Neira.
Besides so-called ambient or outdoor air pollution, the new figures emphasised the problem of household air pollution from cooking with highly polluting fuels and stoves.
“What is very important with air pollution is that it comes from multiple sources, so it is crucial to know where the air pollution comes from,” said Dr Sophie Gumy, technical officer in WHO’s department of public health, environmental and social determinants of health.
It is estimated that around three billion people still do not have access to cleaner fuels and technologies to use in their homes, resulting in a pollution burden that falls primarily on women and children.
WHO highlighted the need to clean up household air pollution in the developing world, as well as wider efforts to implement cleaner transport and energy systems.
In the UK, the conversation around air pollution has mainly focused on nitrogen dioxide – a toxic gas emitted primarily by diesel vehicles that the government has repeatedly failed to meet legal limits for.
However, the new WHO data reveal the UK is also threatened by particulate matter, with more than half of the country’s towns and cities measured suffering from levels above recommended limits.
In light of recent legal action against the government, environmentalists have taken the new WHO figures as another signal that ministers need to act to tackle pollution.
“These new statistics show a worrying level of this dangerous air pollution across the country. People shouldn’t have to breathe air on a daily basis which the WHO deems unhealthy,” said James Thornton, CEO of environmental lawyers ClientEarth.
“A new Clean Air Act would protect our right to breathe clean air and drive greater ambition to meet safer WHO guideline levels.
“Ministers should commit to this now. Without it, many people across the UK will continue to pay with their health.”
However Professor Anthony Frew, a respiratory medicine specialist at Royal Sussex County Hospital, noted that the UK population is largely spared the worst health effects of air pollution.
At the same time, he noted the developing world is bearing the brunt of air pollution in part due to consumer demand from wealthier nations.
“This report is a timely reminder that we in the West need to remember that we are lucky to live where we do, but our prosperity is built in part on polluting industries elsewhere in the world which impact on ot...
On 13 April, the President of the Bank of Mongolia issued a decree to establish a simplified ‘single window service’ for the purchase of gold items from locals across the provinces. The Bank of Mongolia purchased 2.3 tons of gold from legal entities and individuals in the first quarter of 2018, up 2.1 percent on the same period last year.
As of March, the central bank's average gold purchase rate (gold price) was 101.822.3 tugrik (42.56 U.S. dollars) per gram, which corresponds to a low rate on the London Metal Exchange, according to Bank of Mongolia experts.
It is expected that the gold purchase will increase with the start of the peak of gold mining period in August, September and October.
The gold producers in cooperation with the government of Mongolia have carried out a number of measures directed at enriching the treasury fund and improving the legal environment on foreign exchange over the past five years. As a result, gold miners provided 20.01 tons of gold to the central bank in 2017, contributing 800 million dollars to the state treasury.
Annual gold production had not surpassed 20 tons since 2005 when it reached its record high of 25 tons.
A new world standard football field worth MNT 800 million will be constructed in the slopes of Bogd Khan Mountain. Located south of Ulaanbaatar, the site is surrounded by beautiful scenery and is practically untouched by the air pollution which plagues the capital during the winter months.
Mongolia has national football teams in nine age categories and taking part in international matches. However weather and environmental conditions cause difficulties for trainings. To tackle this issue, a project on establishment of a training centre for the national teams has been initiated by the Mongolian Football Federation (MFF) and is being implemented in Tuv province, said Sh.Jargalsaikhan, Head of Technical Department of the MFF.
The three year project is being financed from the International Football Federation and the ‘Greenfield’ company of Holland will work as general contractor and ‘Derennaran’ as sub-contractor.
An additional football field with retractable roof is planned to be built. Therefore the new training centre will help Mongolia's national teams save their time and expenses training abroad and will create favorable condition to develop football sport locally, said G.Lkhagvasuren, Provincial Director of Physical Culture and Sports Office.
Japanese electronics giant Panasonic has agreed to pay more than $280m (£203m) to resolve charges brought under US anti-corruption law.
The US said the firm's in-flight entertainment division hired consultants for "improper" purposes and concealed payments to sales agents in China and elsewhere in Asia.
The US said the acts violated the Foreign Corrupt Practices Act.
Panasonic did not respond to a request for comment.
The payments were made by US-based subsidiary, Panasonic Avionics Corp, between 2007 and 2016, the US said.
In one case, the firm hired a foreign official as a consultant at the same time that the official was negotiating a contract between Panasonic and a government-owned airline in the Middle East.
The official was paid $875,000 over a six-year period, despite doing "little work", according to US documents.
In other cases, Panasonic determined that sales agents in China and elsewhere did not pass anti-bribery certification, but executives "secretly" rehired them as subcontractors, the US said.
Through that process, the employees shielded more than $7m in payments to at least 13 people, the US said.
The US Securities Exchange Commission (SEC) said Panasonic also overstated profits in one quarter in 2012 by backdating an agreement with an airline.
The firm has since "separated" several executives involved in or aware of the "misconduct", according to the US Justice Department. It has also improved its internal controls.
The fine includes $143m to resolve the charges from the SEC, a financial regulator, as well as $137.4m for the charges brought by the US Justice Department.
Ulaanbaatar /MONTSAME/ Chairman of Lower House of the Irish Parliament Seán Ó Fearghaíl met with the Minister of Education, Culture, Science and Sports Ts.Tsogzolmaa and exchanged views on bilateral cooperation and discussed on expanding cooperation in education, culture, science and sports sector.
Ireland ranks high with its education quality and curriculum among the European countries and students from Mongolia study in Ireland with their own expenses. Minister of Education, Culture, Science and Sports Ts.Tsogzolmaa proposed Irish side to cooperate in student exchange at government level and the sides agreed to sign a memorandum of cooperation on student exchange within this year. They also talked about possibilities on co-organizing cultural events with Irish cultural agency, exchanging professors in science sector especially in IT field and enriching contents of curriculum.
Ireland has developed equestrian sports highly and this has become the major part of the country's tourism industry. The sides exchanged views on sharing experiences and improving a legal environment for equestrian sports as suggested by the Speaker of the Mongolian Parliament M.Enkhbold.