Mongolian Economy and Finance

The Japanese Agency of Space Research has handed over to the National Emergency Authority (NEA) equipment to receive data from the weather satellite Winds. Prime Minister had made a request for utilization of such data during his visit to Japan in 2008 as Foreign Minister.

The Mongolian team at a sustainable tourism development workshop in Vietnam on Tuesday gave a presentation on tourism education in the country. Mongolia and five other countries -- Indonesia, Malaysia, South Korea, the Philippines, and Vietnam -- attended the workshop held within the framework of the East Asia Inter-Regional Tourism Federation (EATOF).

A meeting on Monday, attended by 40 delegates from the main economic organizations, expressed happiness at the recent establishment of four sub councils, at the Finance Ministry and at the Economic Policy Council under the President.

Ulaanbaatar, Mongolia, /MONTSAME/ The head of the Cabinet Secretariat of Government Ch.Khurelbaatar gave a review of the governmental works done in August of 2010 at the cabinet meeting ran September 15.

Ulaanbaatar, Mongolia, /MONTSAME/ Wednesday's Cabinet meeting discussed an amendment to the excise tax on some oil products.

Ulaanbaatar, Mongolia, /MONTSAME/ The Minister of Finance S.Bayartsogt made an introduction to the budget of the next year at the cabinet meeting held Wednesday. Then, the head of the Cabinet Secretariat of Government Ch.Khurelbaatar gave a report on implementation course of national programs and projects by first six months of 2010.

Ulaanbaatar, Mongolia, /MONTSAME/ The Capital City Citizens' Representative Khural has discussed and backed in principle a matter on special road for buses. The specialist of the Department of Public Transportation said September 16 that if this road is run according to foreign cities' examples, the public transportation service will improve greatly and a traffic jam will decrease in Ulaanbaatar.

Ulaanbaatar, Mongolia, /MONTSAME/ Pursuant to a decision of the cabinet, all kinds of pensions granted from the social insurance fund will increase 30 per cent.

Hong Kong, Sept 16, 2010 - (ACN Newswire) - North Asia Resources Holdings Limited ("NAR" or the "Company") (stock code: 61) today announced that the Company has successfully completed the mine design, dry processing equipment installation and the initial blasting of approximately 20,000 tonnes of iron ore for immediate trial production at a mine located in Oyut Ovoo, Dundgobi Aimag (province), Mongolia on 11 September 2010.

ULAANBAATAR, MONGOLIA, Sep 16, 2010 (MARKETWIRE via COMTEX) -- Ivanhoe Mines Ltd. /quotes/comstock/11t!e:ivn ( CA:IVN 20.89, +0.69, +3.42%) /quotes/comstock/13*!ivn/quotes/nls/ivn ( IVN 20.36, +0.61, +3.09%) /quotes/comstock/13*!ivn/quotes/nls/ivn ( IVN 20.36, +0.61, +3.09%) -

The Russian-Mongolian tactical exercises 'Darkhan-3' that were launched September 1 at the military maneuver ground 'Burduny' of the Siberian Military District in the Republic of Buryatia, RF, came to a close on Wednesday.

Mongolia’s debts incurred in the socialist days are settled but the country continues to borrow. The loans it took from The Asian Development Bank, The International Monetary Fund (IMF) and Japan between 1991 and 2009 now total USD2.6 billion. According to The Debt Department of the Finance Ministry, foreign debt consists 94% of the Government’s total debt, with domestic debt accounting for the remaining 6%.

Kidokoro Takuo, the 12th Japanese Ambassador to Mongolia, answers questions on bilateral relations.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet meeting held on Wednesday made a decision to increase salaries of civil servants from October 1, 2010.

The Government Coordinating Agency has raised railway freight rates covering import, export and local transportarion from September 25.

MELBOURNE, AUSTRALIA--(Marketwire - Sept. 15, 2010) - Ivanhoe Mines Ltd. (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) -

September 16 (Proactive Investors UK) Petro Matad (LON:MATD) announced it is conditionally raising up to US$46.8 million before expenses through a placing and subscriptions for up to 22,483,878 new shares at 135 pence each, primarily to accelerate in drilling programme on Block XX in Mongolia.

The head of the President’s Office, D.Battulga yesterday called Col.Kh.Enkhjargal and Col. L.Batzorig, Chief of Traffic Police Board and State Security respectively, to tell them of a suggestion from President Ts.Elbegdorj on management of traffic when the President or the Prime Minister or the Parliament Speaker is out. To keep the road free for them, all cars are asked to use one lane, leading to jams and to citizens’ inconvenience. The President wants the practice to stop.

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it will conduct a microfinance institution tour in Mongolia from October 12 through October 14, 2010, with policymakers from Azerbaijan, Bosnia and Herzegovina, Kazakhstan, Kyrgyz Republic and Tajikistan. The objective of the study tour is to introduce policymakers to best practices with the intention of enabling them to improve the legal framework for microfinance in their respective countries. The project is supported by the Ministry of Foreign Affairs of the Netherlands and will be led by the IFC’s Azerbaijan & Central Asia Microfinance Transformation Support Project, an IFC initiative which supports the transformation of microfinance credit organizations into banks.

The Company Has Authorized a Repurchase of Up to 500,000,000 Shares of Common Stock in the Open Market

The South Korean Government has sent a team of experts to assess the damage to the environment from mining in Mongolia at the request of the Government.

StockMarketWire.com - Lotus Resources has decided not to progress its potential listing on AIM and will carry out an immediate revaluation of its presence in the Mongolian mining sector.

Based on the Government resolution No195 dated on July 20, 2010 and the State Property Committee resolution No 346 dated on September 2, 2010, hereby, we are announcing the tender for the post of a competent international “Management team” of the “Development Bank of Mongolia” to carry out management activity of the bank..

SYDNEY (MarketWatch) -- Talks over a poison pill scheme to prevent Rio Tinto /quotes/comstock/22x!e:rio ( AU:RIO 75.30, +0.15, +0.20%) /quotes/comstock/13*!rtp/quotes/nls/rtp ( RTP 55.89, -0.13, -0.23%) from taking a controlling stake in Canada's Ivanhoe Mines /quotes/comstock/13*!ivn/quotes/nls/ivn ( IVN 19.74, +0.36, +1.86%) /quotes/comstock/11t!e:ivn ( CA:IVN 20.20, +0.26, +1.30%) have stalled, the Australian newspaper reported Wednesday.

The National Development and Innovation Committee of Mongolia (“NDIC”) is accepting proposals from project advisory consortiums in connection with the greenfield development and construction of certain industrial and infrastructure projects (the “Projects”) in Mongolia.

The Ministry of Road, Transportation, Construction and Urban Planning organized a meeting on Saturday to introduce to domestic and foreign investors, diplomatic representatives, and officials of international organizations the railway policy and law on concession, so that those keen to bid for constructing the railway would get a clear idea of what was expected of them.

The accumulated loss in the energy sector rose from MNT24.4 billion in 2008 to MNT69.9 billion in 2009. Now, says Ts.Bayarbaatar, Chief of the Energy Board, the situation is looking up after the State Budget allocated MNT15 billion to the sector. Some more money is coming from raised electricity tariff also. The power stations have settled their dues to the railway.

Seoul’s Munhwa Ilbo newspaper has reported, quoting unnamed government officials, that South Korea has secured evidence that North Korea has been smuggling banned materials which could be used for rocket and missile launches, often using forged documents to disguise their destination, through China and other countries. "North Korea has smuggled commodities related to weapons of mass destruction banned by the international community and luxury goods through detour routes such as China, Japan, Mongolia and Russia," it said, according to an AFP report.

Ulaanbaatar, Mongolia, /MONTSAME/ Mongolia's Prime Minister S.Batbold has taken part in the 13th national forum of the Junior Chamber International (JCI)-Mongolia organization.

Ulaanbaatar, Mongolia, /MONTSAME/ Head of the Presidential Office D.Battulga received Monday Mr. Uwe Kievelitz, head of the Returning Experts Program of the Centre for international Migration and Development (CIMD) at the German Technical Cooperation Society (GTZ).

Ulaanbaatar, Mongolia, /MONTSAME/ The Committee of National Development and Innovation (CNDI) has started accepting proposals from project advisory consortiums in connection with the Greenfield development and construction of certain industrial and infrastructure projects in Mongolia.

Bloomberg reported that Mongolia will take bids for a contractor to mine Tavan Tolgoi, one of the world’s largest untapped deposits of steel making coal, in October 2010.

Strong policy response to global crisis offsets fall in exports, copper prices IMF program provided space to Mongolian authorities to implement changes Bright outlook with pending boom in mineral sector

Investors keen to reap the benefits of Mongolia's untapped mineral riches have shifted their focus from glittering copper and gold to coal, with energy-hungry neighbour China a key customer.

Ochir Enkhtsetseg, Permanent Representative of Mongolia to the United Nations, was elected Chair of the Second Committee (Economic and Financial) on 11 June 2010.

In June 33-year-old Justin Nelzen of Magnolia said he was going to ride the Mongol Derby to win it, and last month he did just that.

RIO Tinto's executive and board gathered in bucolic Hampshire on Monday for their annual two-day strategy summit.

China’s aggressive efforts to secure natural resources around the world have sometimes made it an opponent of other importing nations, most recently South Korea . But a shared hunger for commodities can bring countries closer to together too.

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and his party arrived at Chinggis Khaan (or Genghis Khan) International Airport Friday evening, commencing a private visit to the Republic of Mongolia.

BEIJING, Sept 14 (Reuters) - Mitsui & Co, Japan's No.2 trading house, said on Tuesday it had inked a broad pact with the world's largest coal producer, Shenhua Group Corp of China, which includes the joint development of coal mines in Mongolia and other overseas projects.

TOKYO--( EON: Enhanced Online News )--CADEX KK of Tokyo, Japan and Mongolian Railway State Owned Share Holding Company of Mongolia (Mongolian Railway) today announced the formation of a wide-ranging business consulting alliance with aim of enhancing the railway infrastructure in Mongolia.

The head of the National Development and Reform Committee (NDRC) has said there has as yet been no response to the very recently published advertisement for a management team to run The Development Bank. The last date for submitting a bid is November 22, and the NDRC and the State Property Committee will make the choice then. The Bank will provide finance for large development projects, including those in infrastructure and processing factories.

During his recent visit to Japan Minister for Mineral Resource and Energy D.Zorigt and his hosts agreed that expanded private sector investments in the biggest projects should be encouraged and facilitated.

China"s imports surged in August, up no less than 32% on the same month last year. The growth of Chinese imports and the harnessing of Mongolia"s mineral wealth are closely related. Mongolia is in the early stages of an unprecedented boom. The economy of this former Soviet satellite is a mere USD5 billion. In the next decade, though, Mongolia"s GDP could very easily triple. That"s because this vast central Asian state is the scene of an astonishing resources "land grab, says a report in The Telegraph of Britain.

Ulaanbaatar, Mongolia, /MONTSAME/ A delegation headed by a Mayor of Kuwait city Sheikh Ali Al Jaber Al Ahmed Al Sabah visited Monday the Administration of Ulaanbaatar city. The Kuwait city's Mayor is visiting Mongolia for the first time.

Ulaanbaatar, Mongolia, /MONTSAME/ A delegation led by D.Zagdjav MP, a chairman of Asia-Pacific group in parliament have taken part in the VI Baikal International Economic Forum that took place 6-9 September in Irkutsk, Russia.

Ulaanbaatar, Mongolia, /MONTSAME/ A delegation led by L.P.Reshetnikov, a director of the Russian Institute for Strategic Studies, have paid a visit to Mongolia at invitation of the Institute of Strategic Studies, the National Security Committee of Mongolia (NSCM). In frames of the visit that ran September 9-12 a meeting has been organized themed "Mongolia-Russia relations and cooperation at the regional security".

ULAN BATOR: Investors keen to reap the benefits of Mongolia's untapped mineral riches have shifted their focus from glittering copper and gold to coal, with energy-hungry neighbour China a key customer.

Mongolia’s female wrestler S.Battsetseg wins the FILA World Wrestling Championship 2010. The championship was held in Moscow, Russia on September 6-12, 2010.

Winners of the country’s biggest beauty pageant were announced before a select gathering in UB on Sunday, the coveted title of Miss Mongolia-2010 went to Ulaanbaatar girl B.Badamtsetseg.

New Office is Expected to Allow Closer Working Relationships With Clients as the Company Explores Additional Business Opportunities in Mongolia

Usually foreigners are surprised when Mongolians celebrate International Women’s Day and 10 days later “Men’s” Day, which is Mongolian Army Day. It was a Soviet tradition for people to celebrate political holidays, such as Great October Day (Russian Socialist Revolution Day), May Day, Naadam (in socialist times it was usually called People’s Revolution Day).

Sept 14 (Reuters) - Japanese trading house Mitsui & Co (8031.T: Quote ) will team up with the world's largest coal producer Shenhua Group Corp to bid for development rights to Mongolia's Tavan Tolgoi coalfield, the Nikkei business daily reported.

Below are listed Public Holidays for the January 2010-December 2011 period.

SHANGHAI, Sept. 13, 2010 (Xinhua) — Artists from Mongolia perform traditional dancing at the ceremony to mark the National Pavilion Day for Mongolia at the 2010 World Expo Park in Shanghai, east China, Sept. 13, 2010.  (Photo by Xinhua/Ren Long)

The Chu Viet Group and the Mongol Food Company from Mongolia have agreed to establish a joint venture, focusing on investment, export-import, food processing, and restaurant-tourism services.

13 September 2010 – The United Nations Environment Programme ( UNEP ) and several governments in Central Asia and Russia have concluded an agreement on conservation measures for the migratory Saiga antelopes, whose population have been in decline during the past two decades, the agency reported today.

(Updates with Rio comments from second paragraph.) Sept. 13 (Bloomberg) -- Rio Tinto Group , the world's third- largest mining company, raised its holding in Ivanhoe Mines Ltd. to 35 percent after the automatic conversion of a $350 million credit facility.

Mongolia will take bids for a contractor to mine Tavan Tolgoi, one of the world’s largest untapped deposits of steel-making coal, next month, said the country’s minister for minerals and energy.

ULAN BATOR -- Investors keen to reap the benefits of Mongolia's untapped mineral riches have shifted their focus from glittering copper and gold to coal, with energy-hungry neighbor China a key customer.

HONG KONG (Dow Jones)--China's Winsway Coking Coal Holdings Ltd. on Monday began pre-marketing a US$1 billion initial public offering in Hong Kong, while two other companies on the mainland launched roadshows for IPOs in the city with plans to raise up to US$845 million.

(RTTNews) - Origo Partners Plc (OPP.L: News ) announced the acquisition of a 25% stake in Kincora Ltd, owner of the Bronze Fox copper-gold prospect in Mongolia for US$3 million.

Mongolia will keep full ownership of Tavantolgoi, its mining minister, D. Zorigt has said while expressing the hope that the coking coal deposit is likely to finally go ahead in 2012. "A state-owned company is going to own 100 percent of Tavan Tolgoi and license the mining operations," he has told Reuters. "It will be a 50 percent state-owned company, and the rest will be sold publicly" in a domestic share offering.

The committee that works on cases of victims of political repression has revealed that the names of 29,800 of the 35,000 recorded as killed have so far been cleared. Their families and descendants have received MNT19.8 billion as compensation. Besides, MNT2.5 billion more have been spent in the last two decades on building apartments and gers for 470 citizens who had been orphaned because of the repression. Another MNT110.8 million has been given as assistance to 9,722 citizens.

The most interesting speech on the second day of “Discover Mongolia-2010” on Thursday was that by the Executive Director of Golomt Bank, John Finigan. Reviewing the present status in the mining sector and future prospects, he said 2016 will be when Mongolia would really start collecting regular higher revenue. The amount of copper mined would reach 36,000 tons a year and the GDP would be USD27 billion. This translates as USD9,000 in per capita GDP. There are very few examples of such great leaps in GDP growth, except in oil producing countries following the price rise in the 1970s.

ULAN BATOR (Commodity Online) : One of the world's largest landlocked countries, Mongolia began a campaign to promote its rich natural resources to potential investors.

MPRP General Secretary U. Khurelsukh met with journalists to answer questions about issues that will be discussed at the party’s upcoming congress in November. Montsame reporter G. Manduul provides readers with Mr. U.Khurelsukh’s comments about the past, present and future of the MPRP, including much deliberation over a probable name change.

On September 4-5, for the purpose of seeing the harvesting process and to meet with local citizens, Prime Minister S. Batbold worked and resolved some issues in Bulgan, Orkhon, Darkhan-Uul and Selenge aimags. He was accompanied by some ministers and officials including T. Badamjunai, the Minister of Food, Agriculture and Light Industry; T. Gandi, the Minister of Social Welfare and Labor; L. Gansukh, the Minister of Environment and Tourism, and Yo. Otgonbayar, the Minister of Education, Culture and Science.

On September 7, the international investment firm Eurasia Capital organized one of this year’s major investment conferences in Mongolia.

Reporting from Shand Khiid, Mongolia — In the crimson-painted interior of a monastery in central Mongolia, boys as young as 6 face one another cross-legged on benches and chant Tibetan Buddhist prayers that they barely understand.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2010) - A correction from source is issued with respect to the news release sent out at 1:47 pm PT, Sept. 8, 2010. The date of the Prophecy news cited in the first paragraph was incorrect, and has been revised. The corrected release follows:

The International Investment Bank, formed as an initiative of the Soviet Union in 1970, has started to actively invest in the countries of the former Eastern Bloc, including Bulgaria.

TWO years ago Alex Molyneux was sitting at Citi's Hong Kong Mining and Metals M&A desk.

An outdoor Mongolian cabinet meeting -- complete with green hats and "Save Our Earth" slogans -- was the stage for an announcement by the coal-abundant country that it may be considering wind energy for export to China .

China's imports surged in August, up no less than 32pc on the same month last year. When I heard this news last week, via my mobile-phone, I was standing on a hilltop in Mongolia, watching as massive hydraulic excavators worked what is said to be the world's largest surface-mine coal seam.

Sept 10 - IFC's specialist has reviewed technical information provided by Suu JDC (“Suu” or the “Company”), a 94% privately owned dairy processing company whose remaining shares are traded on the Mongolian stock exchange.

MIAT has announced its new schedules and also discounts for students. The national airline will have additional flights to Moscow on Thursdays and Sundays from tomorrow to March 31, 2011.

J.Bat-Erdene, State Secretary at the Ministry of Road, Transportation, Construction, and Urban Development, has said the initial cost estimate made in 2005 for the proposed international airport in Khushig valley in Tuv province was 21.9 billion yen but this has now increased substantially. Final figures are being discussed among the Ministry of Finance, the consultancies, and the Japanese Government. Denying that there is any possibility of the project being abandoned disagreements on cost, the official said there was a likelihood that some parts of the complex, like the cargo handling facilities, some offices, and the monitoring tower will be built with Mongolian investment. Tenders are scheduled to be announced at the end of 2011.

Minister of Road, Transportation, Construction and Urban Development Kh.Battulga and Minister of Mineral Resources and Energy D.Zorigt have reported to the Government their readiness to begin implementing several construction projects approved by it as part of the National Developmental Strategy, the Government’s Action Plan for 2008-2012, as well as others approved by Parliament.

In his message to the two-day mining investment forum “Discover Mongolia-2010” which began yesterday, President Ts.Elbegdorj expressed appreciation for the work of investors who have explored Mongolia’s natural resources. “Your efforts and investment have revealed our wealth to the world and now Mongolia has embarked on an ambitious journey of socio-economic development, based on the revenue from its mines,” he has said. “Our success must acknowledge the contribution of your specialists with wide experience and admirable skills, and of your use of progressive technology and techniques.”

The 8th International Mining Investors Forum- Discover Mongolia 2010 was opened with a message from President Ts.Elbegdorj on September 8. It featured keynote speeches by Bernard Guarnera, President of Behre Dolbear, a globally recognized mineral industry advisory firm, who said Mongolia ranks 7th in the list of safest countries to invest in after Australia, Canada, Chile, US, Mexico and Brazil, and by Tim Goldsmith, Partner and Global Mining Leader of PricewaterhouseCoopers (PwC).

The Prime Minister S.Batbold met Thursday the Ambassadors of some countries to Mongolia.

Ulaanbaatar, Mongolia, /MONTSAME/ A ceremony took place Tuesday to open the Mongolia-Japan joint laboratory of researching and processing coal in Mining Institute, Mongolia's University of Science and Technology (MUST).

Ulaanbaatar, Mongolia, /MONTSAME/ The Prime Minister S.Batbold received Thursday Mrs. Sezin Sinanoglu, the Permament Representative of the United Nations Development Program (UNDP) to Mongolia.

Ulaanbaatar, Mongolia, /MONTSAME/ In frames of the "The Netherlands-Mongolia Trust Fund for Environmental Reform (NEMO II)" projects some areas have been counted that have been destroyed due to extractive and exploration of mineral resources. The action has been co-organized by the Ministry of Environment and Tourism, World Bank and Kingdom of the Netherlands within 2009-2010.

Ulaanbaatar, Mongolia, /MONTSAME/ The "Discover Mongolia 2010" 8th International Mining Investors Forum took place September 8-9 in the Children's Palace. Number of participants in the forum was more ten times than at the first forum.

Over 10 teams sent their tender proposals for MSE to the selection committee of the State Property Committee of Mongolia. After the first round of selection, 5 teams: Korea Exchange, International Investment Consortium of Nasdaq and Mosdaq, London Stock Exchange, Deutsche Exchange of Extra Group of Germany, are shortlisted.

The Government of Mongolia established “The Mongolian Development Bank” and approved its capital on July 20 2010, during its Cabinet Meeting. According to the paragraph two of the resolution, the Government provided direction to the State Property Committee and National Development and Innovation Committee to select management of the bank as foreign, experienced, professional and independent body. As part of this decision, management team selection procedure kicks off today.

Dear All, Greetings from the United Movement of Mongolian Rivers and Lakes! We would like to inform you our brief activities since May this year.

The FINANCIAL -- The Executive Board of the International Monetary Fund (IMF) has completed the fifth and the sixth reviews of Mongolia's economic performance under a program supported by an 18-month Stand-By Arrangement (SBA).

Trading for 90 minutes a day out of a former movie theater, the Ulan Bator exchange is suitable only for well-informed insiders and the craziest speculators, which may be part of its rogue charm.

Sep 09, 2010 (Datamonitor Financial Deals Tracker via COMTEX) --

HOHHOT, China, Sept. 9 (Xinhua) -- The second China-Mongolia-Russia International Youth Sports Meeting opened here on Thursday.

There has been no follow-up to reports that Khan Resources has filed a statement of claim with the Ontario Superior Court of Justice, seeking damages of USD283.7 million from Russia"s State-owned uranium miner Atomredmetzoloto (ARMZ) and its subsidiary JSC Priargunsky Industry Mining and Chemical Union.

The 1st Annual Mongolia Investment conference was held yesterday in Ulaanbaatar, co-organized by Eurasia Capital , with a host of supporting organizations, including the Business Council of Mongolia, the Corporate Governance Development Center, Mongolia Development Resources, Thomson Reuters and The Wall Street Journal.

Ulaanbaatar, Mongolia, /MONTSAME/ A ceremony to sign a trilateral memorandum ran between the Ministry of Health, the Capital City Governor's office and the Boroo Gold LLC September 6.

Ulaanbaatar, Mongolia, /MONTSAME/ The 4th Mongolia-Germany consultative meeting on economic policy was held Wednesday in the Ministry of Foreign Affairs of Mongolia. Present the meeting were representatives of the Mongolia's Ministry of Foreign Affairs, the Ministry of Road, Transportation, Construction and Urban Development, the Committee for National Development and Reform and the Center of Standardization and Measurement (CSM), and representatives of the Germany's Federal Ministry of Economics and Technology.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet issued Wednesday a resolution on selection of an advisory company in a need to have an international advisory company for Mongolia.

During Prime Minister S.Batbold’s visit to the Southern Gobi region, Areva Mongol Company revealed that it will start production in near future. Therefore, business-mongolia.com brings to our readers an interview of Mr G.Luuzan, Vice Director of Areva Mongol, made by Unuudur daily newspaper on June 23 2010.

"Activity levels continue to improve in every region," president and CEO Francis McGuire said in a news release announcing the results.

Hong Kong, Sept 09, 2010 (ACN Newswire via COMTEX) -- North Asia Resources Holdings Limited ("NA" or the "Company") (stock code: 61) today announced that it has entered into a subscription agreement (the "Subscription Agreement") with Business Ally Investments Limited (the "Subscriber"), to issue up to US$33,000,000 aggregate principal amount of convertible bonds ("Convertible Bonds") due three years from the date of issue of the Convertible Bonds. The Subscriber is a wholly-owned subsidiary of CCB International Asset Management Limited which is in turn wholly-owned by CCB International (Holdings) Limited ("CCBI"). CCBI is the investment banking flagship established in Hong Kong and wholly-owned by China Construction Bank Corporation.

MONGOLIA is moving closer to Australia in the race to supply China with coking coal for its voracious steel industry.

BAAR, SWITZERLAND, Sep 08, 2010 (MARKETWIRE via COMTEX) -- Manas Petroleum Corp. ("Manas") /quotes/comstock/11k!mnap ( MNAP 0.52, +0.03, +6.12%) is pleased to announce that it has entered into a contract with a seismic company to acquire 300 km of 2D seismic for the Company's project on blocks 13 and 14 in Mongolia. Manas has agreed to a turn-key rate of $3,500/km, with no stand-by fees, for an aggregate total of $1,050,000, payable according to a specific schedule. Manas is required to provide a bank guarantee over the outstanding amount, which is to be reduced according to the same schedule.

Vice President Xi Jinping said in Xiamen on Wednesday China will strive to build a further open environment for trade and investment while promoting global investment cooperation and working with other states to stimulate world economic recovery.

Environment Minister L.Gansukh has said the Southern Gobi region has limited water reserve and several studies will have to be reviewed and the discrepancies in them reconciled before a clearer picture emerges of water availability for the Tavantolgoi project. The concern of the Mineral Council about excessive and imprudent water consumption in mining has been clearly reflected in the Oyutolgoi agreement. The water consumption during production will be strictly monitored.

The Government has sought the help of Simon Fraser University in Canada to prepare an appropriate methodology for evaluating the impact of mining on human health. Civil society organizations have been at the forefront of demands for such assessments, particularly in view of the anticipated mining boom in the next few years.

Reports from aimags indicate the success of the Government plan to encourage SMEs through grant of bank loans on easy terms.

Ulaanbaatar no longer has any theater or cinema house exclusively for children but Galaxy in Dalanzadgad of Umnugobi aimag is a success. Work on it was stalled soon after its foundation was laid in 1990. Finally a local businessman bought the place and built a Children’s Palace there in 2008. Now, Galaxy has been added to its attractions.

The 7th primary conference of the MPRP that began on Tuesday has fixed the date for the party’s 26th general assembly.

Ulaanbaatar, Mongolia, /MONTSAME/ A symposium themed "Copyright and contiguous rights management" started Tuesday in the Ministry of Foreign Affairs here.