Sunday, May 11, 2014

Mongolia Brief May 9, 2014 Part II

J.Batzandan MP turns 40
Ulaanbaatar, May 9 (MONTSAME) The Speaker of the State Great Khural Z.Enkhbold Friday received J.Batzandan MP to pay tribute to him on his 40th birthday.

During the reception, the Speaker handed to J.Batzandan MP a silver bowl with a silk blue scarf, and wished him the best for his birthday.
Mr Batzandan graduated from the secondary school in Sukhbaatar aimag in 1992, the School of Laws at the Mongolian State University (MSU) in 1992-1993, and the University of Miskolc of Hungary in 1999 majoring in political science and laws. He has defended PhD degree in laws.
He was elected as a parliamentarian by the 6th parliamentary election of Mongolia in 2012.

Stock exchange news for May 9
Ulaanbaatar, May 9 (MONTSAME) At the Stock Exchange trades held Friday, a total of 23 thousand and 783 shares of 16 JSCs were traded costing MNT 13 million 895 thousand and 149.00.
"Genco tour bureau" /18 thousand and 730 units/, "Remikon" /2,909 units/, "Hai Bi Oil" /504 units/, "Gutal" /500 units/ and "Shivee ovoo" /375 units/ were the most actively traded in terms of trading volume, in terms of trading value--"Gutal” (MNT five million and 545 thousand), "Shivee ovoo" (MNT two million 144 thousand and 100), "Genco tour bureau" (MNT one million 575 thousand and 760), "APU" (MNT one million 343 thousand and 070) and "Material impex" (MNT one million 087 thousand and 600).
The total market capitalization was set at MNT one trillion 588 billion 773 million 762 thousand and 509. The Index of Top-20 JSCs was 15,413.79, decreasing by MNT 86.88 or 0.56% against the previous day.

Mongolian linguist studies phangs-pa script
Ulaanbaatar, May 9 (MONTSAME) A linguist at the Sciences Academy R.Otgonbaatar has managed to interpret some words in phangs-pa script for the first time in Mongolia.
The linguist explained results of his studies of phangs-pa script during an event held in the Children Palace on Friday. This interpretation has been regarded as a great success by academicians.
The 'Phags-pa script was an alphabet designed by the Tibetan Lama Zhogoin Qoigyai Pagba for Yuan emperor Kublai Khan, as a unified script for the literary languages of the Yuan Dynasty.
Widespread use was limited to about a hundred years during the Yuan Dynasty, and it fell out of use with the advent of the Ming Dynasty. The documentation of its use provides clues about the changes in Chinese, Tibetan, Mongolian, and neighboring languages during the Yuan era.
The Uyghur-based Mongolian alphabet is not a perfect fit for Middle Mongolian, and it would be impractical to extend it to a language with a very different phonology like Chinese. Therefore, during the Yuan Dynasty (circa 1269), Kublai Khan asked ´Phags-pa to design a new alphabet for use by the whole empire. ´Phags-pa extended his native Tibetan script (an Indic script) to encompass Mongol and Chinese, evidently Central Plains standard. The resulting 38 letters have been known by several descriptive names, such as "square script" based on their shape, but today are primarily known as the 'Phags-pa alphabet.
Despite its origin, the script was written vertically like the previous Mongolian scripts. It did not receive wide acceptance and fell into disuse with the collapse of the Yuan dynasty in 1368. After this it was mainly used as a phonetic gloss for Mongolians learning Chinese characters. It was also used as one of the scripts on Tibetan currency in the twentieth century, as script for Tibetan seal inscriptions from the Middle Ages up to the 20th century and for inscriptions on the entrance doors of Tibetan monasteries.

Nat’l Olympiad for informatics concluded
Ulaanbaatar, May 9 (MONTSAME) The 28th national Olympiad for informatics among secondary school pupils and teachers took place May 7-9 in the School of Information Communication Technology at the Mongolian University of Science and Technology (MUST).
Co-sponsored by the Skytel Group and the “Agriculture Exchange” LLC, this year’s Olympiad was attended by 37 teachers and 34 pupils. They competed in the contest by solving six problems with maximum 600 points.
As the result, an 11th grade pupil from the city’s laboratory #1 school B.Erdene won a gol medal in the division of pupils, collecting 380 points. He was followed by B.Javkhlan from the #1 school and Ts.Bat-Orgil from Khovsgol aimag-based “Delgermoron” school, who won silver medals. Bronze medals went to three pupils from the “Shine Mongol” and Mongolia-Turkish joint school.
In the teachers’ contest, a teacher from Bayankhongor province S.Tsagaan won a gold medal, being followed by teachers from Khovsgol, Uvs and Khovd provinces.
A production called “My system” made by J.Byamba-Ochir from Khovsgol was selected as the best creative work.
The winner of the Olympiad in the teacher’s division S.Tsagaan has been selected as a coach for the Mongolian team to compete in the 2014 International Informatics Olympiad that will take place in Taiwan. He is sponsored by the “Choijoovanchig” foundation.

Our youths at WCY meet with President of Sri Lanka
Ulaanbaatar, May 9 (MONTSAME) Mongolian youth delegation is participating in the World Conference on Youth /WCY/ which is running in Sri Lanka on May 6-10.
The opening ceremony was held on Tuesday with 1400 youth delegates from 159 countries.
During the event, our youths met with the President of Sri Lanka Mr Mahinda Rajapaksa and Ahmad Alhendawi, UN Secretary-General's Envoy on Youth and conveyed them a greeting from Mongolian youths.
Apart from this, a member of delegation team L.Jargaldavaa has become one of seven key participants at the conference by a result of report contest among a total of 70 best participants.
Our delegation consists of Kh.Batsaikhan, the president of the Union of Mongolian students, B.Bayarbaatar, a coordinator at the UN Young Advisory Panel, L.Jargaldavaa, an advisor member, B.Badamsuren, a specialist of foreign affairs department at the Ministry of Population Development and Social Welfare and Mr Dustin Barter, a staffer at the UN Population Fund /UNFPA/.

New waste manufacturing factory to open soon
Ulaanbaatar, May 9 (MONTSAME) A South Korean "KOICA" waste manufacturing factory is planned to open its door in UB city in late of May.
Since becoming operational, wastes and plastic bags will be classified and re-manufactured in the factory field. 
As of today, domestic two companies, "TChM" and "San Orgiu", are operating in this sector in the city and more one factory is expected to be built within 2016.

Enacoree leading Spring Open
Ulaanbaatar, May 9 (MONTSAME) These days, the Sports Central Palace is hosting the annual Spring Open Volleyball tournament among national men and women clubs.
The second round first matches will be played between Monti vs Altain Bars, Erchim vs Tsairt Mineral (women), Erchim vs Sima, Avragch vs Khasu Megastars, and Altain Bars vs Buyant Ukhaa (men) on May 9. Second and third matches of the second round are to be played on May 12-13.
Avragch club of the National Emergency Agency is leading the men’s group with five wins, while Enacoree club is topping with four wins the five women teams attending the tournament.

Mongolian women wrestlers ranked high
Ulaanbaatar, May 9 (MONTSAME) The International Federation of Associated Wrestling Styles (FILA) has released rankings of top female wrestlers for April of this year.
According to the rankings, wrestlers of the Mongolia’s national selected women’s team have been ranked at higher places.
Thanks to winning a silver medal in the Asian Championships held last month in Kazakhstan and a gold medal in the Mongolia Open 2014, an international master of sports B.Shoovdor has been included in the rankings of top wrestlers for the first time. She was ranked 15th in 58kg weight category.
An international master of sports E.Sumya was ranked 5th in the 53 kg category; a State Honored Sportswoman S.Battsetseg (63 kg) and IMS Sh.Tumentsetseg (69 kg)--5th; S.Tserenchimed (60 kg)--7th; B.Odonchimeg--9th; and other six wrestlers were ranked in 10-16th places.

B.Monkhzaya wins Shandong half-marathon
Ulaanbaatar, May 9 (MONTSAME) An athlete from Dornod aimag B.Monkhzaya won a gold medal in the Shandong international half-marathon held Thursday in Shandong province, China.
The Shandong marathon is considered by the IAAF as “A” class competitions, and this year’s marathon competitions attracted 300 runners from 59 countries.
The Mongolian runner Monkhzaya covered the way in one hour 14 minutes and 48 seconds, and broke the national record of Mongolia in the women’s half-marathon. Now, she is studying in the National Institute of Physical Culture, and is belonged to the “Aldar” sports club.

Judokas competing in Baku Grand Slam
Ulaanbaatar, May 9 (MONTSAME) Judokas of the national selected team of Mongolia are competing in the 2014 Baku Grand Slam tournament which kicked off Friday in Baku, Azerbaijan.
The tournament brought together about 250 judokas from 41 countries. The Mongolia’s team included M.Urantsetseg (women’s 48 kg), A.Tsolmon (57 kg), G.Kherlen (men’s 60 kg), Kh.Tsagaanbaatar (73 kg), S.Nyam-Ochir (81 kg) and N.Tuvshinbayar (-100 kg).
On the first day of competition, a State Honored Sportswoman M.Urantsetseg has been advanced to the finals. A.Tsolmon and G.Kherlen did not grab medals.  

"First kiss" musical play to be re-staged
Ulaanbaatar, May 9 (MONTSAME) Based on a story by the Brothers Grimm, a “First kiss” musical play is to be re-staged at public request on May 23.
Pop singer and Merit artist of Buryatia B.Amarkhuu and young singer M.Sonor are the main roles to give live performances.
Produced by Russian Buryatia honored Mr Oleg Yumov, the play tells special feelings of pure love, wish and great friendship.
This play was, previously, performed on March 8 for the International Women’s Day.  

Joint concert of Mongolia and Switzerland to be performed
Ulaanbaatar, May 9 (MONTSAME) A joint concert of bands of Mongolia and Switzerland is to be staged here on May 29-30.
Dedicated to the 50th anniversary of the diplomatic relations establishment between Mongolia and Switzerland, this event will be organized by the Arts Council of Mongolia.
Representing Mongolia, our ethno jazz band "Arga Bileg" will perform at the concert.

Mongolia marks Victory Day
May 9 ( Today marks Victory Day, May 9h, celebrating the 69th anniversary of the end of World War II.
Today, countries around the world commemorate and show respect to those who devoted their lives for peace and humanity during World War II.
Mongolians widely celebrate Victory Day. The President of Mongolia, Ts.Elbegdorj, posted a tweet on Twitter saying: “Today, it is Victory Day when the Great Patriotic War finished. Congratulations heroes. This was our victory.  The people of Russia bear more responsibility. Happy Victory.”
Exactly 69 years ago, 61 countries or approximately 80 percent of the world’s population, were involved in World War II and 110 million people were deployed in armies across the globe.

Governor of Central Bank N.Zoljargal: Economic difficulty and crisis are not the same
May 10 ( This is a translation by BM of an interview with the Governor of the Central Bank of Mongolia N.Zoljargal appeared on on 10th of May.
Official USD currency rate reached MNT1800 and currency exchange entities started selling MNT1800 per USD. Despite the statement by Bank of Mongolia to tame the USD local currency is still depreciating. What is your comment on this issue?
Spring is the main season where foreign currencies are used in trades and construction, thus increases the demand for USD which causes the appreciation of USD. After the second quarter of the year foreign currency inflow caused by sales of cashmere causes appreciation of MNT. As for this year, revenues from coal export have been low. Although the volume of export increased, the price is still very low. Also, there are difficulties we that some companies cannot receive the revenues despite their export (Erdenes TT). In addition we are taking measures to increase sale of gold. During the first quarter of 2014, the currency rate was MNT1770-1780 per dollar and had 1-2% fluctuation. Therefore, we see the current appreciation as a seasonal change in currency. Because the trade balance has been balanced this year for the first time in a decade. It was minus USD300-400 million in the past years. Thus, according to our forecast, there will be no further appreciation of USD except of course, for the seasonal and temporary fluctuations. Bank of Mongolia cannot satisfy the foreign currency demand, therefore, the resolution that is under discussion on how to overcome the economic difficulties and attract foreign investors and foreign currency flow is an important factor to ease the situation.
Is it really possible that MNT will not depreciate further?
Compared to 2009, there aren’t any symptoms of economic crisis. Economic difficulties are not economic crisis, they are not the same thing. As I mentioned earlier, the SGK resolution on deciding what to cut and what to decrease is very important.
Can Bank of Mongolia guarantee that it will not increase the policy rate?
We are currently waiting for the SGK’s decision on the resolution, then we will convene the meeting on policy rate. Policy rate change effects are visible in the economy after 6 months, you can also say that it the period where there will be some economic impacts due to change in policy rate. The SGK resolution touches on issues such as tax and non-tax related supports and relief. All of these would have positive impact on currency level. Unfortunately, the events in politics that has been happening for the past 3 months is contracting our possibilities. Political stability is a major factor to ensure market stability. In brief, I think that currency level will be stable this year.
Number of MPs insist on holding your responsible for price instability and currency volatility? 
I cannot comment on the responsibility issues on my self. However, I think Economic Standing Committee, SGK and the Cabinet should talk openly about the currency hardships we are facing. From our side, we are delivering necessary informations to the public in a timely manner. There are many actions to be taken on increasing foreign currency inflows. Bank of Mongolia is sitting between two choices whether to increase tax supply which is harmful for the economy, and contraction policy which will slow our economy down. For the foreign currency, we can only perform intervention. As scheduled we will announce the intervention for this spring.
Number of economists are concerned that if we do not increase the foreign currency inflow, our GDP growth will decline?
Some part of our local currency is converted from foreign currencies came from outside. However, when the inflow scarce, it is hard to balance and manage it. Bank of Mongolia supplied currencies to balance it last year. Specifically, if we are lacking 6 trillion, 3 trillion would be far than enough. As for this year, we cut the whole MNT3 trillion. Therefore, we should concentrate more on foreign investments and increasing revenues of exports.
Number of people perceive the import replacing 888 project as merely a PR campaign. Do you think that commercial banks will lend to this projects?
Export supporting policy demands for weak local currency. There are no two policies on strong local currency, therefore from the policy prospective it is understood by both sides. We perceive MNT1800 per USD as a correct rate that balanced our trade. It is a rate that promotes export and weighs import. I hope that these projects would get funding. Commercial banks have received the proposals and looking at the viability of the projects in detail. The eligible projects would get funded.
There are talks about foreign banks entering the market, will this help the economy?
We haven’t received any formal proposals from foreign banks. If we receive proposals, we must analyse the impacts and make a decision.

Mortgage rate has been decreased by 1 percentage point
May 11 ( Last year’s cabinet resolution enabled a mortgage with annual rate of 8+1% for people who are buying apartments for the first time. It has been 11 months and out of MNT847.2 billion worth of requests MNT520.1 billion fulfilled as a replacing loan. Also MNT1 trillion mortgage has been newly issued making it overall 36,905 people to utilize the new rate. Yesterday, at the cabinet meeting, it was resolved that the mortgage rate would be fixed at 7% in mortgage policy guidelines.

"Script and Culture 2014" International Calligraphy
Exhibition Opened in Ulaanbaatar
May 9 ( On May 09, 2014, the opening of "Script and Culture 2014" International Calligraphy Exhibition was held at 02:00 pm at the Union of Mongolian Artists in Ulaanbaatar, which is being organized under the auspices of the President of Mongolia for consecutive sixth year.
The exhibition will be running until Wednesday, May 14 and from this year Governing Administration of Arkhangai Aimag is collaborating and in the frameworks, the same exhibition will be opened in Tsetserleg city of the Aimag on May 12, 2014. During the event, Mongolian traditional script calligraphy contest will be also hosted, say organizers.
At this International Exhibition, 19 representatives from Inner Mongolia, China and Buryat Republic, Russia are participating, who were welcomed by the Head of the Office of President P.Tsagaan and Advisor to President R.Bold in the Government House.
Authorities expressed their gratitude to participants for their contribution, promotion and development in Mongolian script.
Noteworthy, this year is marked as the 810th anniversary of Mongolian traditional script as the state script proclaimed by Great Chinggis Khaan.
Link to article

No comments:

Post a Comment