The BoM formulated principles in the following directions, considering the issue on financial consumer protection will be coordinated under the rule of regulatory organization and ensured within its supervision.

As projected in the principles, a financial services provider is responsible for strengthening good governance in organization, treating all costumers equally, honestly and fairly.

All financial parties undertake to promote financial education and carry out activities on imparting consumer-oriented knowledge and skills.

In addition, consumer’s savings, correspondent account, and all other assets are to be prevented and protected from fraud and misuse.

B.Batchimeg

“Appointing Trade Representative to Mongolia is of a great importance for supporting UK-Mongolia trade and investment cooperation. On January 23, 1963, Great Britain became the first western country to establish diplomatic relations with Mongolia. One year later, our first diplomat came to Mongolia. Since then, our embassy has been operating. We are delighted to commence the 55th anniversary of bilateral diplomatic ties with the good news. UK will continue supporting Mongolia's economy, sustainable development, human rights and democracy,” the Ambassador of the UK, Catherine Arnold said.

B.Misheel

We are thankful to President of Mongolia Mr. Battulga Khaltmaa, Members of Parliament from Umnugovi region Mrs. N. Amarzaya and Mr. L. Enkhbold – for their participation in the handover ceremony.

Oyu Tolgoi’s vision statement is “Natural wealth to enduring value, knowledge, and skill” and Government of Mongolia’s policy of supporting “Made in Mongolia” aligns with our company’s strategy of supporting Mongolian made products through supporting national businesses.

A Cooperation Agreement was signed by Oyu Tolgoi LLC with Umnugovi aimag, and Khanbogd soum in April 2015 and Gobi Oyu Development support fund was founded in September 2015 as part of our efforts to achieve our vision.

Under the cooperation agreement, Oyu Tolgoi makes a contribution of US$5 million every year to Gobi Oyu Development Support Fund to support community programs and projects in Umnugovi aimag. Since its establishment, the fund has financed 26.7 billion tugrugs and 65 projects and programs towards sustainable development in important areas such as water, environment, pasture land management, cultural heritage, tourism, health, education, training and investment of the region.

This “Umnugovi public transportation improvement project” is one of the 65 projects that “Gobi Oyu Development support fund" has financed since 2015 and we are extremely happy to handover this Ecobuses made by Mongolian engineers to Umnugovi aimag.

Highlights from the projects and programs:

In 2015: Building two new kindergartens with capacity of 200 children in Dalanzadgad soum
In 2016: Building a new sports gym for School No.2 in Dalanzadgad soum & Building a new hospital in Bayan-Ovoo soum
In 2017: Building kindergarten & school complex in Khanbogd soum, Animal health center office building with 4 family apartment, necessary equipment and animal shelter, new heating plants in Khanbogd & Manlai soum and 8 ecobuses in Dalanzadgad soum.

In connection to the high rate at the London Metal Exchange, the Bank of Mongolia’s average purchase rate was MNT 103,531.75 per gram last month.

As such, the high price is leading to increase of gold deposit at the Bank.
Kh.Aminaa

The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports published weekly, stayed flat with a week ago at 577 yuan ($91.75) per ton, according to Qinhuangdao Ocean Shipping Coal Trading Market Co Ltd.

Analysts said falling temperatures boosted electricity demand in coastal areas. Daily coal use of major power stations has hit a new high since the beginning of the year, while stockpiles continued to shrink.

The coal price had been falling as the government rolled out policies to ensure supply until surging seasonal demand stopped the losing streak.

Pressure from the coal shortage is likely to continue as the upcoming Spring Festival holiday will curb transport efficiency, analysts said.

China is in the middle of capacity cuts in the coal and steel sectors. Last year's annual targets to slash steel capacity by around 50 million tons and coal by at least 150 million tons were fulfilled in August and October, respectively.

Its overall score has increased by 0.9 point, with improvements in monetary freedom, fiscal health, and judicial effectiveness outweighing declines in the government integrity, labor freedom, and government spending indicators. Mongolia is ranked 27th among 43 countries in the Asia–Pacific region, and its overall score is below the regional and world averages.

After the collapse of the Soviet Union, landlocked Mongolia undertook market reforms and extensively privatized its formerly state-run economy. Foreign direct investments to extract its substantial mineral resources transformed the economy. The current government has tried to restore investor confidence but has failed to invigorate the economy in the face of the large drop-off in FDI, mounting external debt, and a sizeable budget deficit. Weak rule of law and lingering corruption are
additional drags on the economy.

Trade is significant for Mongolia’s economy; the combined value of exports and imports equals 98 percent of GDP. The average applied tariff rate is 4.6 percent. Nontariff barriers impede trade. Government openness to foreign investment is below average. The financial system has undergone modernization, and the banking sector has become largely stable.

Yang Yuanqing, CEO and chairman of Lenovo, said the Beijing-based company has moved back onto the growth track, and the US corporate tax reform would not have negative impact on future earnings of its operations in the country.

Lenovo recorded a loss of $289 million in the last quarter of 2017, compared with an average forecast of a $124.5 million profit compiled by Bloomberg. The company said its pre-tax profit hit $150 million, up 48 percent year-on-year.

After struggling in both the personal computer and smartphone businesses in recent quarters, Lenovo said its hardest period is nearing an end, and it is reviving good growth momentum.

The company's revenue increased 6 percent year-on-year to reach $12.94 billion, marking the best performance in three years.

"Lenovo has re-entered the ascending track. As the PC market bounces back to growth, our core business will see an evident rise," Yang said.

In the three months ended in December, Lenovo's PC unit sales rose 8 percent, thanks to higher average selling prices driven by innovative products and a better product portfolio.

In the same time frame, global PC shipments rose for the first time in six years, albeit by less than 1 percent, according to market research company IDC. But HP Inc expanded its lead over Lenovo, its closest rival.

"We had been more conservative than HP in the past several quarters, especially in the North American market. But we are readjusting our strategies," Yang said.

When it comes to the mobile phone business, the company saw a narrower loss, with more efforts made to sharpen their focus on user experience.

Xiang Ligang, CEO of telecoms industry website Cctime, said Lenovo still faces mounting competition from rivals. It will still take time for the company to come up with competitive smartphone models that can resonate with consumers, he said.

The ratings are based on the capital structure and liquidity of MAK assuming it completes the proposed bond deal and a debt restructuring. The company plans to repay some of its existing loan facilities that are in default, with proceeds from the proposed bond. The remaining loans will be restructured based on terms outlined in the signed consents and waivers from each respective lender, which have been reviewed by Fitch.

The final ratings are contingent upon successful issuance of the proposed bond and completion of the restructuring in line with the terms already received, and upon receipt of final documents conforming to information already received. Fitch thinks there is minimal risk that the terms of the restructuring will be amended by both MAK and the lenders after the bond issue.

The Long-Term IDR reflects Fitch's expectation that MAK's liquidity and debt maturity profiles will be adequate after the planned bond issue and restructuring of the remaining debt. The rating also incorporates Fitch's expectation that the company will be able to generate positive free cash flows over the medium term, barring a significant deterioration in coal prices. This is based on the assumption that MAK will be able to reduce production costs and capex during moderate coal price weakness. These expectations are counterbalanced by MAK's history of aggressive debt-funded investments, and limited access to external funding, which may heighten the company's liquidity risk if there is a sharp, sustained coal price or demand downturn and unfavourable capital market conditions.
Kh.Aminaa