1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.

To date, Sysmex has supported external quality assessment in the country in the fields of hematology, clinical chemistry and immunochemistry based on agreements with Mongolia’s Ministry of Health. In this way, we have helped to increase the quality of clinical testing in the country. 

In recent years, however, demand in Mongolia has grown for blood morphology testing, which is essential for the diagnosis, treatment and follow-up assessment of leukemia and other hematologic diseases. While clinical laboratory technologists can visually perform blood morphology testing to determine clinically useful information on the abnormal morphology of blood cells and platelets, such testing requires specialized knowledge and experience. Mongolia faces the issues of accumulating expertise and standardizing this testing.

To this end, when renewing its agreements with Mongolia’s Ministry of Health to provide external quality assessment support in the fields of hematology, clinical chemistry and immunochemistry, the scope was expanded to include the field of blood morphology testing. 

With this support, Sysmex will provide local clinical laboratory technologists involved in blood morphology testing with the technological and scientific expertise the Company has accumulated through its global service and support activities. As in the fields of hematology, clinical chemistry and immunochemistry, Sysmex will support Mongolia’s Ministry of Health, which plays a central role, in creating and operating a nationwide framework for external quality assessment in blood morphology testing.

Through these activities, Sysmex will provide accurate technologies and knowledge related to blood morphology testing, helping to raise the quality of healthcare in Mongolia. 

Going forward, Sysmex will continue striving to provide support for clinical testing in developing countries and emerging markets, contributing to the standardization and increased quality of clinical testing and thereby instilling trust and confidence in customers throughout the world.

The working group will be headed by D.Gan-Ochir, director of Research and Statistics Department of Mongolbank and it comprised of 11 members including directors of the Departments of the Mongolbank, the Trade and Development Bank and Golomt Bank, Executive director of Mongolian Bankers Association and BoD head of the University of Finance and Economics.

“Our scholars have been cooperating with their Japanese counterparts since 1996. As of present, scholars of the countries have transferred over 50 petroglyphs into scientific research,” said Dr. B.Tsogtbaatar, a scientific worker of the Institute of Historical Science and Archeology at the Academy of Sciences. He briefed about outcomes of field research performed this year.

“I want to emphasize the inscription of Delgerkhangai Mountain in Dundgobi aimag’s Delgerkhangai soum as well as the inscription of Seruun Khaalga in Khentii aimag’s Bayankhutag soum. The inscription of Delgerkhangai Mountain is the oldest one among others as found in Mongolian territory, while the inscription of the Serven Khaanga is written in Jurchen and Chinese languages, and they are belonged to the year 1191, he said.

Scholars said the inscription of Serven Khaalga is about the war between Tatars and the Great Mongol Empire, which are described in the Secret History of the Mongols. It suggests that the Seruun Khaalga inscription was left by Wangyan Xiang, a General of the Jin Dynasty, who conquered Tatar together with Chinggis Khaan.

“Professor of the Institute of Historical Science A.Ochir first got familiarized with the Delgerkhangai Mountain inscription and put it into research. The most important thing is that the original version of the inscription was written on paper, and it was included in the history of China. But there is still a debate among scholars about the location of the war between the Mongol Empire and Tatars,” said Kosetsu Suzuki, a Mongolist. 

Scholars and researchers have been trying to disclose meaning of the inscription since then. In 2007 and 2016, some scholars of the Institute of Historical Science and Archeology collected factual data from the inscription. In July of this year, works were done to take molding from it as well.

The financing package for Khan Bank, one of the leading banks in the country and among the EBRD’s oldest partners in Mongolia, will increase access to finance for private businesses. It will consist of three loans which will be used to support (a) micro, small and medium-sized enterprises (MSMEs) with up to €27 million, (b) value-chain financing that will also benefit small businesses, with up to €13.5 million, and (c) sustainable energy improvements for up to €4.5 million.

Khan Bank will on-lend to its clients the funds provided by the EBRD. The bank will also benefit from a €250,000 technical cooperation programme funded by the European Union’s Asia Investment Facility.

Irina Kravchenko, EBRD Head of Mongolia, said: “We are very pleased to be providing these new opportunities for small businesses in partnership with Khan Bank, one of Mongolia’s largest commercial banks, which provides access to finance in even the most remote areas. We consider projects such as these to be among our strategic priorities in Mongolia.”

In order to become more resilient, Mongolia’s economy needs to reduce its dependence on large enterprises and develop more small and medium-sized firms. For this, these companies – particularly in remote and rural areas – need more access to long-term funding.

The EBRD’s credit line to Khan Bank will help to address this issue. At the same time, the finance will provide much-needed funding for MSMEs that are part of value chains also occupied by large contractors, suppliers and sponsors.

The remaining part of the credit line will help companies reduce their energy consumption. This is crucial in Mongolia, where the average energy intensity per capita is more than double that of other EBRD countries of operations and carbon intensity per capita is three times higher. Over 90 per cent of the total primary energy supply comes from coal and oil, with most electricity and heating generated by ageing coal-fired plants that are in great need of rehabilitation and investment.

The EBRD loan will help private enterprises switch to more energy efficient technologies to make the Mongolian economy greener. It will be provided under the EBRD’s Mongolian Sustainable Energy Financing Facility, one of the EBRD’s pioneering climate-finance frameworks, and will come with a technical cooperation programme of €1.4 million funded by the EBRD Shareholder Special Fund.

Mongolia became an EBRD country of operations in 2006. The Bank is currently the largest multilateral investor in the country, with a total of about €1.4 billion (US$ 1.7 billion) invested to date and all projects in the private sector.

Wheat flour, macaroni, pasta(Ukraine)
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The Watches (Switzerland)
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Spare parts for heavy duty machinery(China)
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Plastic injection mould, die casting mould(China)
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Smart tv, 4K 2K UHD TV, Slim LED TV (China)
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GPS tracker(China)
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Silicon & Viton Rubber Products(India)
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Materials, machines, surface treatments(China)
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Automotive lubricants,industrial oil(Dubai,Ireland)
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Geological drilling equipment(China)
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AC Drive/ VFD/ Frequency Inverters(China)
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Jefferies analyst Philippe Houchois launched coverage of Tesla with an “underperform” rating, helping send shares of the company headed by entrepreneur billionaire Elon Musk down 2.17 percent to $376.74 after closing at a record high the day before.

“Achievements to-date and vision are impressive, but we don’t think Tesla’s vertically integrated business model can be scaled up as profitably and quickly as consensus thinks and valuation multiples imply,” Houchois warned in a research note.

Houchois’ $280 price target was well below the median analyst price target of $337.50, according to Thomson Reuters data.

Musk is counting on the recently launched Model 3, Tesla’s least pricey car, to make the Palo Alto, California company profitable and establish it as the leading electric carmaker ahead of BMW (BMWG.DE), General Motors (GM.N) and other long-established players.

Wall Street’s confidence in Musk has sent Tesla’s stock up 83 percent over the past year to record highs.

Skeptics believe Tesla’s aggressive production targets are unrealistic, that Musk is burning through cash too quickly and that the company’s electric cars will be overtaken by larger automakers.

Eight analysts recommend buying Tesla’s stock, while another eight recommend selling, and eight others have neutral ratings, according to Thomson Reuters data. That makes Tesla one of the 10 most poorly-rated stocks in the Nasdaq 100 index.

On Monday, the Senate passed an amendment against the Russian company, which was proposed by New Hampshire Democrat Jeanne Shaheen. The senator said the prohibition “removes a real vulnerability to our national security.”

The bill would bar the use of Kaspersky Lab in American civilian and military agencies.

Kaspersky Lab has stated it believes that "building assumptions about possible risks based on inaccurate information and the country of origin of the company means to expose everyone to an additional threat since such a decision restricts the choice of cybersecurity products on the market."

"We very much hope that the Congress will take into account the information provided before discussing further steps," Kaspersky Lab said.

Earlier, the company co-founder Eugene Kaspersky said he was ready to testify on September 27 before Congress if the United States granted him an accelerated visa.

Kaspersky Lab is a 20-year-old anti-virus company that has 400 million customers globally. The company has fiercely denied it conducts espionage on behalf of the Russian government.

The company says all three existing offices in the United States continue operating, including a subdivision in Washington.

The bank is working as an intermediary for buyers and sellers of Bitcoin XBT, an exchange-traded note designed to track the value of the digital currency.

However, according to JPMorgan spokesman Brian Marchiony, “they are not JPMorgan orders, these are clients purchasing third-party products directly.”

JPMorgan has also posted a job ad for a blockchain technician. Blockchain is the technology behind bitcoin and other cryptocurrencies.

“The Blockchain Center of Excellence (BCOE) leads efforts for applications of distributed ledger technology (DLT) within JPMorgan. We are exploring blockchain use cases and piloting solutions across business lines. We are active in the blockchain ecosystem: developing technology, investing in strategic partnerships, and participating in industry consortia,” The job listing on JPMorgan’s website reads.

The CEO of JPMorgan Chase Jamie Dimon has called bitcoin a fraud that will blow up, saying the cryptocurrency could be useful “if you were in Venezuela or Ecuador or North Korea.. or if you were a drug dealer or a murderer.”

Bitcoin was created as a response to poor financial management after major banks, including JPMorgan, contributed to the 2008 world financial crisis.

According to Max Keiser of RT’s Keiser Report, bankers dislike bitcoin because it “makes banks, essentially price gouging intermediaries and socially unacceptable leeches, obsolete; bankers rightfully fear for their jobs as bitcoin replaces them.”