According to the regulation, tenants of the apartments of the State Housing Corporation of Mongolia (SHCM) will be able to own the flats they are renting.

In doing so, tenants can own the flats by two ways; they can be involved in the mortgage loan after paying 30 percent of the total payment, or can buy the flat by making equally-divided payment every month for up to five years under the agreement.

“The regulation is coming to effect today. The price of SHCM apartments is set at MNT1.4 million per square meter. Presently, there are 1512 rental flats throughout the country. It is intended to construct apartments for 1008 households with the non-refundable aid of China, besides spending USD500 million -worth investment of the Republic of Korea on constructing rental apartments,” reported Kh.Badelkhan, Minister of Construction and Urban Development.

Mongolian designers are now targeting to export ‘deel’ to Inner Mongolia, as well as other countries. Urban Jeans, Mongolia’s first mass producer of jeans, exported its first batch of garments based on the deel to China in January, and has signed sales agreements with three distributors in Hohhot, the capital of Inner Mongolia.The company is also targeting sales in Southeast Asia, while Khadlan, another Mongolian manufacturer, is exporting winter deels to neighbouring Russian provinces.

D.Tungalag, who founded Urban Jeans with savings accumulated during a 10-year stint in the U.K., said there is a thriving market for ethnic designs in Mongolia, where the company released its first designs just before the 2016 Mongolian summer festival of Naadam.

Modernized versions of the deel usually retain the distinctive standing collar of the traditional garment, but incorporate elements of Western forms such as skirts, dresses or jumpsuits. Traditional motifs such as shoulder and waist buttons are kept for aesthetic purposes, but practical improvements such as zips are added for urban practicality. Designers often decorate outfits with Mongolian ornamental patterns.

Some Mongolians complain that designers have made the modernized deel look too much like traditional dress in other Asian countries, such as the Vietnamese Ao Dai or the Chinese Qipao, largely by fiddling with the high collar. But B.Enkhbaatar, who makes deels under the brand KADR, is sanguine about the similarities in Asian attire, saying that many foreign styles originated in Mongolia. (Source: Nikkei Asian Review)

Just this past summer, the Hong Kong chapter of the Explorers Club, together with the Mongolian Institute of Palaeontology and Geology, traced a similar route through the desert, this time using NASA technologies, such as drone-mapping, multispectral and thermal imaging – the same technology used to explore Mars – to collect data and help identity fossil sites.

On the 20-day Roy Chapman Andrews Centennial Expedition, the 35-person team found potential evidence of at least three previously unknown dinosaur species and excavated 250 new dinosaur fossil sites.

This is just one of the club’s many adventures in destinations around the world.

By signing the agreement, the EBRD will grant USD 300 million credit financing to the Mongolian Government for the implementation of projects and programs in road and infrastructure sectors. The sides agreed to finance the project on construction of additional two-lane road in route Ulaanbaatar-Darkhan at the first stage.

Finance Minister Ch.Khurelbaatar said “The EBRD has implemented projects worth about USD 1.7 billion in private sectors of Mongolia in the past. I consider that cooperation between the Government of Mongolia and the EBRD is starting from today. USD 120 million out of USD 300 million loan financing from the Bank will be spent on construction of additional two-lane road in a route between Ulaanbaatar and Darkhan. I am expressing my gratitude to Head of Mongolia Unit at the EBRD Irina Kravchenko on resolving the funding in a very short time.”

Erdenes Tavan Tolgoi JSC, which has 2.5 million shareholders, plans to hold its shareholders' meeting on April 30. The Board's conclusions on the 2018 annual report and the annual financial statements will be discussed at the meeting. The company is also planning to launch IPOs in the global market to raise USD 3 billion.

There are currently 305 companies listed in the Financial Regulatory Commission, out of which 26 have agreed to disburse dividends of MNT 62.1 billion. ETT has settled to distribute MNT 26,800 per share in dividends to Mongolian citizens each holding 1072 shares.

The company plans to hold its shareholders' meeting on April 30
In addition to dividends, preparations for trading on the international stock exchanges are continuing. Minister for Mining and Heavy Industry Sumyabazar Dolgorsuren announced that ETT will launch an IPO.

He informed that the company would restructure and establish an international subsidiary of Tavan Tolgoi. In order to succeed, it requires a CEO with high experience in finance and capital market proficiency. In addition, the Minister added that four of the nine board members should be foreign people who are internationally acceptable.

On the grounds that its issuance of a guarantee on the loan that ‘Just’ Group received from ‘Standard’ Bank, the LCIA made a decision in 2013 that Erdenet enterprise must pay USD117 million in total, including of basic loan, interest, expenses on court proceedings and monthly interest, to the Bank.

Thanks to bilateral effective negotiations, held few times with the involvement of a mediator company, the parties reached an agreement to lower the payment three times. Accordingly, Erdenet enterprise paid USD40 million from its target-risk fund, finalizing its debt issue with the Bank, noted Deputy Prime Minister U.Enkhtuvshin.

An issue on taking the money issued from the risk fund back from culpable persons who caused this case to be tried at the international arbitration will be internally resolved at court.

Representatives of the BoM, the Ministry of Mining and Heavy Industry, Mineral Resources and Petroleum Authority, General Department of Taxation, commercial banks and gold miners presented and discussed pressing issues of the sector and their solutions.

Government and non-governmental organizations will cooperate on the campaign to increase the gold reserves, intensify training and promotion on the process of gold purchase among the public through introducing relevant laws and regulations and encouraging business entities and individuals to sell their gold to the BoM and to commercial banks.

It is also planned to make gold origins clear, eliminate illegal cross-border movements of gold, create an integrated platform and software for gold miners and buyers in cooperation with the Mineral Resources and Petroleum Authority and other relevant authorities.

The company said it hoped to stop the “painful” experience of getting suggestions to invite dead people to events, or to wish them a happy birthday.

On profiles, tributes to a person will now appear separately, keeping the deceased’s timeline as they left it.

"We hope Facebook remains a place where the memory and spirit of our loved ones can be celebrated and live on,” said Sheryl Sandberg, Facebook’s chief operating officer.

Users have often complained about being shocked and upset when Facebook nudges them to interact with a deceased loved one.

Since 2009, Facebook has given users the ability to “memorialise” profiles; a status which adds “Remembering” to the person’s name and allows friends to post messages (more than 30 million people do this every month, Facebook said).

Once a page has been memorialised, it no longer appears within notifications as if that person were still alive. But, for profiles of deceased users that have not yet been memorialised, Facebook said it would use AI to stop those accounts from appearing in unexpected places as well.

Legacy contact control

Facebook also announced other tweaks to how dead people are represented on the network.

Memorialised accounts will now have a separate “tributes” tab for people to leave condolences and memories, a move that would leave the deceased’s timeline intact.

Content posted as tributes can be moderated by a person’s “legacy” contacts. These are other Facebook users who they have designated as a trusted person or persons, who can take over in the event of their death.

"Legacy contacts can now moderate the posts shared to the new tributes section by changing tagging settings, removing tags and editing who can post and see posts,” Ms Sandberg explained.

"This helps them manage content that might be hard for friends and family to see if they’re not ready.”

Under-18s cannot nominate a legacy contact, but parents or guardians of children who have died can contact Facebook to request access.

Some of these changes have come in response to abuses of its systems, such as a “prank” in which users would falsely tell Facebook someone had died, locking that user out of their account, and causing friends distress.

The amount increased by 200 million dollars from the end of 2018, said Atarbaatar Enkhjin, head of the Reserve Management and Financial Markets Department at the Bank of Mongolia, reports Xinhua.

Enkhjin noted that the increase was a result of several factors, including the implementation of the three-year Extended Funding Facility (EFF) of the International Monetary Fund (IMF) in Mongolia and higher commodity prices in the global market.