On 15 February 2018 the Government of Mongolia cancelled the Southern Region Power Sector Cooperation Agreement (PSCA). The PSCA laid out a framework for cooperation between the Government of Mongolia and Oyu Tolgoi LLC to deliver a comprehensive energy plan for the South Gobi region. The Government of Mongolia’s primary intention was to develop the Tavan Tolgoi Power Project (TTPP), a new independent power plant at the Tavan Tolgoi coalfields, with Oyu Tolgoi as off-taker rather than owner.

The cost of building a power plant by Oyu Tolgoi is not included in the $5.3 billion investment approved for the development of the underground in May 2016.

The formation of the PCSA and prioritisation of discussions and evaluation of TTPP, at the specific request of the Government of Mongolia, resulted in the suspension of Oyu Tolgoi’s plans to start construction its own power plant in 2012. It also suspended Oyu Tolgoi’s obligation under the 2009 Investment Agreement to source power from within Mongolia by 2017 because it was recognised by the Government that the TTPP process would take longer than four years.

While TTPP is moving forward and despite considerable efforts by the Government’s Project Implementation Unit, MCS (TTPP’s domestic shareholder), Rio Tinto and Oyu Tolgoi to progress the project, its development has been slow due to limited investors and lenders appetite. TTPP currently lacks a lead investor to develop a viable technical and commercial proposal for Oyu Tolgoi to consider and it is unable to secure financing without a credible lead investor. Extensive negotiations and lender due diligence would still be required once those key issues are resolved. TTPP would therefore not be operational within four years.

Oyu Tolgoi has been reviewing other options that can be implemented within the four year timeframe, including refreshing previous plans to develop its own power plant at the Oyu Tolgoi mine site. In this context, Oyu Tolgoi will be engaging with the Minister of Energy to ensure the necessary permits and approvals are in place, including the application of permits that were submitted for renewal in January 2017, but which have not been granted, and to ensure overall alignment on the way forward.

The cost of building a power plant by Oyu Tolgoi is not included in the $5.3 billion investment approved for the development of the underground in May 2016.

On the secondary market for block government securities, 1,997 bonds worth MNT197.5 million were traded.

The TOP-20 Index decreased by 3.38 percent to reach 20001.38 points. The MSE market cap stands at MNT2,413,079,369,346.00

Mongolia plans to implement ‘Cashmere 2’ programme in 2018-2022. The four-year program is expected to increase the country's production and export of final cashmere products 5.7 times. The aim is to increase production of finished goods by 60-70 percent.

For this propose, the Cabinet has established the Cashmere Development Fund. The MNT 500 billion fund will support the cashmere industry.

Mongolia exported 5400 tonnes of washed cashmere to China in 2017. This accounted for 60 percent of total raw cashmere and 54.3 percent of revenue.

The Schneider Group is a global specialist in the processing and trading of fine wools and high value fibres. The company was set up in the early 1920's in Australia.

An Iranian passenger ATR plane belonged to Asseman Airlines hit Dena Mountains, 120 km from Semirom, Isfahan Province Sunday morning.

The debris of the plane was found Monday. All 66 people onboard were killed in the tragic incident, and the dead bodies that have been found so far are being transported to Yasouj, the capital city of Kohgiluyeh and Boyer-Ahmad Province in southwestern Iran.

The census plan was approved at a meeting of the State Commission on Population and Housing Census 2020 chaired by Mongolian Prime Minister Ukhnaa Hurelsukh.

The regular census will start at midnight of Jan. 8 through Jan. 9, 2020 nationwide and will run for seven days. The final results of the census will be announced in June of the same year.

The Statistical Law of Mongolia states that a national census will be conducted every 10 years. Mongolia's population reached 3.2 million by December 2017, according to the latest data released by the National Statistical Office.

Japanese Foreign Minister Taro Kono met with Mongolian Foreign Minister Damdin Tsogtbaatar in Tokyo on Thursday.

In the meeting, Kono said the international community must be united in dealing with North Korea. He stressed the necessity of maximizing pressure on the North in various areas, including the implementation of UN Security Council sanctions.

They agreed to work together to boost pressure on the country after the PyeongChang Olympics and Paralympics now under way in South Korea.

Kono asked for Mongolia's support to resolve the issue of abductions of Japanese nationals by North Korea. He also said Mongolia should swiftly implement the austerity measures necessary to receive financial assistance from the International Monetary Fund and others.

Tsogtbaatar met with Kim Yong Nam, the president of North Korea's Presidium of the Supreme People's Assembly, in North Korea earlier this month.

LendMN Company plans to raise MNT 5 billion from the market, selling 25 percent of its outstanding shares at MNT25 per share. The company expects to attract MNT 2.5 billion from strategic investors, anothet MNT 2.5 billion from the public.

LendMN Company was officially launched its operation in 2017, offering micro credit on consumption with amount of MNT 50 thousand to MNT 1 million to customers through mobile application without collateral and in short time. Currently, the company granted MNT 16.7 billion loan. Through lendmn application, customer’s number reached 30 thousand and 5-6 thousand customers are being newly registered monthly. Loan repayment is 98 percent and poor loan quality makes up 0.8 percent now. The company plans to issue MNT 196 billion loan to 59 thousand customers in 2018.

LendMN is the 18th IPO of the MSE and the first non-banking financial institution which is launching IPO on the MSE.

Primary market order of the LendMN Company will close at 1PM, on March 13.

The carmaker said its inquiry had concluded that some of Raj Nair's conduct had been "inconsistent with the company's code of conduct".

Ford did not specify why the investigation was started nor what it uncovered.

Mr Nair said in a statement that "I sincerely regret" certain behaviour.

Ford President and Chief Executive Jim Hackett said in a statement: "We made this decision after a thorough review and careful consideration. Ford is deeply committed to providing and nurturing a safe and respectful culture and we expect our leaders to fully uphold these values."

Mr Nair had been President of Ford North America since 1 July. He was previously head of global product development and chief technical officer.

He apologised, without elaborating on the reasons for his going.

"I sincerely regret that there have been instances where I have not exhibited leadership behaviours consistent with the principles that the company and I have always espoused," Mr Nair said.

He added: "I continue to have the utmost faith in the people of Ford Motor Company and wish them continued success in the future."

A spokesman for the US's second biggest carmaker said the company would not be commenting on the nature of Mr Nair's departure.

'Rising star'
In August, Ford agreed a multi-million-dollar settlement after an investigation into sex and race harassment at two factories in Chicago.

The inquiry was conducted by the US Equal Employment Opportunity Commission, which said female and African-American employees had been subjected to sexual and racial harassment and found the carmaker retaliated against employees who complained about the harassment or discrimination.

In an open letter about the matter, Mr Hackett wrote "there is absolutely no room for harassment at Ford Motor Company.... We don't want you here, and we will move you out for engaging in any behaviour like this."

Michelle Krebs, an analyst at Autotrader, said the departure of Mr Nair, a "rising star" who had been with the carmaker for 30 years, comes at a "particularly bad time" for Ford.

She told the Reuters news agency: "Investors and analysts have been unhappy with the seeming lack of a clear direction for Ford, especially in terms of future mobility services.

"The stock price has fallen. The pressure is on Jim Hackett, anointed CEO last spring, to lay out a clear road ahead for Ford."

During the four days in the Japanese capital, D.Tsogtbaatar will hold official negotiations with his counterpart, Taro Kono, and exchange views on regional and global issues. The official visit is taking place to strengthen Mongolia's strategic partnership with Japan, a third neighbor nation, as well as enhancing political relations and expanding cooperation, particularly at the economic level.

In addition, Minister D. Tsogtbaatar is planning to meet with officials from the Mongolia-Japan Friendship Group in the Japanese Parliament and with Japan's ministers of energy, commerce and industry, health, and labour and welfare. His schedule also includes meetings with the Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), the Japanese Chamber of Commerce and Industr, and Japan External Trade Organisation (JETRO).