Agreeing with suggestions of the ambassador, Chairman of Hanoi’s People Committee said: “Hanoi is willing to offer support to foreign enterprises, including those from Mongolia, to coordinate with Hanoian partners”.
The host also wished that during his tenure, the ambassador would accelerate the effective cooperation activities between Hanoi and Ulan Bator as well as Vietnam and Mongolia. He suggested enhancing bilateral tourism and labor cooperation and expressed his belief that the ambassador would fulfill his assigned tasks to contribute to the developing bilateral ties.
Dash, for his part, vowed to do his best to lift bilateral cooperation on par with the two capitals’ potential.

According to parliamentarians, the 2017 budget revenue performance has surpassed by over MNT 900 billion and amendment is to be made in the budget to distribute the revenue of MNT430 billion.

Some MPs suggested to spend the money for raising salaries of teachers and doctors while Ch.Ulaan MP expressed his opposition to distribute the money.

“Budget adjustment should be made to improve budget indicators. However we are talking about distributing some extra money gained than expected, when the 2017 budget deficit reached MNT2.7 trillion which is the biggest deficit in history of Mongolia. We should consider it seriously,” he said.

As the first discussion of the budget adjustment bill concluded, the bill has been transferred to the second hearing.

The company will begin a comprehensive 3D seismic programme for BGP Inc., which will include additional 2D seismic focused on adjacent leads of the Tugrug Basin and a new basin in Block IV, Petro Matad said in a statement. It also expects to add further drillable prospects to its growing exploration portfolio.

The planned 218 square kilometre 3D survey will focus on defining and de-risking near term drilling targets within the Tugrug Basin which could contain over 3 billion barrels of oil in place and additional potential within stratigraphic traps, it said.

The Tugrug Basin has a proven working petroleum system confirmed with a stratigraphic core hole drilled by the Company in 2011 near the basin margin. The core-hole contained live, un-biodegraded oil in good quality sandstone reservoirs.

Petro Matad said the 3D survey will cover the key prospects and leads, which are part of the primary structural play fairway within the basin, identified on existing 2D seismic data. The survey is also expected to image a major stratigraphic play fairway, which has been proven in prolific petroleum producing plays in Africa, India and the Falkland Islands, to name a few. In addition, 150km of new 2D seismic data are also planned in the Tugrug Basin to better define other leads and prospects.

In addition, 204km of new 2D data is planned over the Khangai Basin in the northern part of Block IV. This survey aims to better define some attractive leads identified on regional 2D seismic gravity and magnetic surveys acquired in 2015. 

BGP has started mobilisation and expects to begin work on the blocks in late October 2017, Petro Matad said, adding that it expects the results of the survey to advance farmout discussions currently taking place.

The most remarkable piece, dating back more than 2000 years, is a bronze cauldron. During the excavation of a tomb at the site of Tsatsyn Ereg, archaeologists discovered the cauldron containing a wooden spoon.

According to the scientists, this object, dating from the second century BC, was buried near a human body, in a pit three-metres deep with a series of other artefacts. This would probably have been the burial site of a nomadic rider, many of whom crossed the Great Wall of China to sow terror among the Chinese peasantry.

The search of the contents of the cauldron will be carried out in a laboratory in order to clear the instrument and to try to discover the traces of any possible substance.

Funded by the Monaco Government since 2006, the Monaco-Mongolia joint missions, under the patronage of HSH Prince Albert and under the aegis of UNESCO, are carried out each summer by the teams of Jamyian-Ombo Gantulga, head of the Institute of Archeology of the Academy of Sciences of Mongolia, and Jérôme Magail of the Museum of Prehistoric Anthropology of Monaco.

The two teams cooperate on three sites in the Arkhangai province: Khunnu of Gol Mod, the Buddhist monastery of Zayan Khüree and the Bronze Age necropolis of Tsatsyn Ereg, on which a research and exhibition centre was built two years ago with the support of the Prince’s Government.

Elisabeth Gramaglia Gondeau, Honorary Consul of Mongolia in Monaco, has visited the site of Tsatsyn Ereg for the third time, which has just been inscribed on the UNESCO World Heritage Tentative List thanks to the work of the archaeologists.

The colourful leader, and president of Ulaanbaatar’s Harley-Davidson fan club, earned the nickname “Fist” after punching a colleague in 2012. He has also gotten a Putin-esque reputation for posing shirtless photos while riding horseback and posing with hunting guns.

Khurelsukh began his career in 1989 as a political officer in a military unit before moving into politics a year later. He was first elected into parliament in 2000 and has served as the country’s deputy prime minister twice.

Mongolia’s previous prime minister, Jargaltulgiin Erdenebat, was ousted by parliament a month ago after allegations of corruption — a claim he vigorously denied. Both ministers are members of the ruling Mongolia People’s Party that, in 2016, won an overwhelming number of seats, 65 out of a possible 76. However, it is not uncommon for Mongolia to regularly overhaul it’s leadership. Since elections in 1992 there have been 15 cabinets, each lasting 18 months on average, and no prime minister has served their full four-year term since 2004.

Former prime minister Erdenebat criticised the trend after his voting out: “Although, some of us point to foreign investments as economic killers, in reality we politicians are the internal killers of our economy and suffocate our own growth.”

Despite its role as a key coal supplier to China, mineral-rich Mongolia has significant debt pressures and the selection of a new prime minister will put the IMF’s $5.5 billion economic rescue package back on track.

Mongolia also has open dialogue and diplomatic ties with all key regional nations in Central Asia — including China, Russia, South Korea and even North Korea — which has made it a central nation for hosting international discussions and promoting regional peace.

On the primary market for government securities, 4,751 bonds worth 448,554,000 were issued.

On the secondary market for corporate bonds, 763 bonds worth MNT 76,299,000 were traded.

The MSE ALL Index rose 00.13 percent to stand at 1071.88. The MSE market cap stands at MNT 2,075,393,995,429 .

Non-bank financial sector had unpaid loans of MNT554.9 billion in the second quarter, went up by MNT76.7 billion compared to the beginning of the year and up by MNT142.9 billion compared to the same period of last year.

Non-performing loans total to MNT72.2 billion or makes up 13 per cent and outstanding loans make up 5.9 per cent, while performing loans make up 81.1 per cent out of the unpaid loans.

Nonperforming loan amount increased by 21.5 per cent from the beginning of the year and up by 47 per cent compared to the same period of last year.