Mongolian Economy and Finance

The FINANCIAL -- A senior delegation from the European Bank for Reconstruction and Development (EBRD), led by Olivier Descamps, the Managing Director for Turkey, Eastern Europe, the Caucasus and Central Asia, visited Mongolia during 25-29 October.

Transportation Authority of Mongolia has recently taken inspection measures on coal transportation companies on the southern border. More than 150 companies have been covered by the inspection measures, 46 of them have been qualified, 36 companies were shut down, and 26 were temporarily closed down by the authority.

A Russian delegation led by V.G.Maleyev, head of the Russia-Mongolia parliamentary group at the Russian Duma and also deputy head of the Committee for Ecology and Natural Resource Exploitation, called on Prime Minister S.Batbold earlier this week to exchange views on increasing bilateral trade, and on cooperation in railway and infrastructure. Exporting uranium and meat to Russia was also discussed.

When women have access to the same rights and opportunities as men, they are more resilient to conflict and disaster and can lead reconstruction and renewal efforts in their societies, according to The State of World Population 2010 , released on October 27 by the United Nations Population Fund (UNFPA) in Mongolia. The ceremony was attended by, among others, S. Banzragch, Advisor to the Parliament Speaker, and Ms. Munkhtseren, Director of the Administrative Management Department, Ministry of Social Welfare and Labor.

President Ts. Elbegdorj has sent a list of suggestion for MPs to consider when Parliament discusses the draft budget for next year. It includes the following.

Mongolia Mining Corp. and Winsway Coking Coal Holdings have been added to both the MonBiz Mongolia Index and MonBiz Hong Kong Index after their recent IPOs in Hong Kong, says Eurasia Capital. The two companies add USD5.6 billion in market capitalization value to each index, an amount that is larger than Mongolia"s 2009 GDP of USD4.2 billion. The MonBiz Mongolia Index now has 26 members with a total market capitalization of USD29.3 billion or near 700% of Mongolia"s GDP. Meanwhile, the MonBiz Hong Kong Index reached 9 members and USD10.6 billion in market capitalization or twice the size of the country"s GDP.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet discussed and backed a draft law on ratifying a credit agreement established between the government of Mongolia and the Bank for Reconstruction and Credit (BRC) of the Federal Republic of Germany. The credit agreement has been established to implement a project on developing regional transportation infrastructure with an aim to improve food supply of Ulaanbaatar.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet has discussed and backed in principle a draft law on exchange of agricultural products and raw materials. When Ministers' proposals are included, the draft will be submitted to the State Great Khural.

Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the cabinet meeting backed in principle a draft financing agreement to be established between the government of Mongolia and the Asian Development Bank (ADB) for a project on developing a regional logistic center. The issue of financing the agreement will be consulted with a related Standing committee.

Ulaanbaatar, Mongolia, /MONTSAME/ Wednesday's cabinet meeting discussed and backed a draft law on ratifying financing agreements established between the government of Mongolia and the International Development Association (IDA) for the "Developmental policy financing-2" program and a project on technical assistance covering several sectors. The drafts will be submitted to the State Great Khural. The government has approved the rule of exchanging information and cooperating in controlling over drugs, psychic substances and over a turnover of their raw materials. The rule reflects rights and obligations of the authorities of foreign affairs, health, environment, intelligence, police, customs, professional inspection, veterinary and breeding services.

Ulaanbaatar, Mongolia, /MONTSAME/ Pursuant to the cabinet's program for 2008-2012 on transferring radio and television broadcasting into a digital technology and creating proper conditions for airing TV channels nationwide, the cabinet has made a decision to implement a related national program and considered as necessary to ensure a preparation for the national program until July 31 of 2014.

Ulaanbaatar, Mongolia, /MONTSAME/ A woman wrestler of the "Khangarid" sports club and international master of sports B.Oyunsuren has won a bronze medal in the World University Championship for Free-Style Wrestling which started Tuesday in Torino city, Italy.

Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the Prime Minister S.Batbold received Mr. Olivier Descamps, a Managing Director for Turkey, Eastern Europe, the Caucasus and Central Asia of the European Bank for Reconstruction and Development (EBRD). They have discussed issues of the ties and collaboration between Mongolia and the EBRD.

Luminant's Thermo Mine, near Sulphur Springs, and Winfield Mine, near Winfield, which fuel the company's Monticello Power Plant, recently played host to Mongolia's deputy director of fuel policy from the Ministry of Mineral Resources and Energy. Boldkhuu Nanzad visited the mines Friday, Oct. 15, to get a look at best practices in surface mining and reclamation. The event was part of a three-week tour through the U.S. State Department's International Visitor Leadership Program.

Coking coal prices have been relatively steady these last few months but a number of factors are likely to converge to force a small rise in integrated steel producers coking coal costs early next year.

Poems from the “Prison Diary” written by the late President Ho Chi Minh have been translated into Mongolian by President of the Mongolia-Vietnam Friendship Association (MVFA) Doctor Sonomish Dashtsevel.

A government commission appointed by the Mongolian Ministry of Mineral Resources and Energy has told Prophecy Resource Corp. following an on-site inspection at the Ulaan Ovoo mine site that it will be granted the mining license soon and has asked it to prepare to begin production operations. The eight-member commission was satisfied with how the company had complied with all legal requirements so far.

The new gold rush to develop Mongolia"s resources could make it the world"s fastest-growing economy over the next five years. To profit from its untapped iron ore, coal, copper, uranium, silver, and gold deposits, the government needs to build a vast network of roads and railways to ship the minerals out of the country"s vast interior. More than 10 "strategically important" deposits are in development including the Dornod uranium deposits, the Asgat silver deposit, and the massive Tavan Tolgoi coal site.

Ulaanbaatar, Mongolia, /MONTSAME/ Students of the School of Mathematics and Computer Sciences at the Mongolian State University (MSU) have grabbed a bronze medal in the 35th South East Asian Olympiad for Information Technology which has been held in Tianjin city, China.

Mongolia-Sweden business forum dedicated to the spheres of mining, construction and infrastructure will run November 2-3 in Ulaanbaatar co-organized by the Embassy of the Kingdom of Sweden, the Center for Environmental Technology (CENTEC), the Swedish International Development Cooperation Agency (SIDA) and the Trade consul of Sweden in frames of the 20th anniversary of the Mongolia-Sweden cooperation. The upcoming meeting is expected to bring together Swedish state delegates and businessmen. The sides will conclude results of projects on developmental cooperation and seek opportunities to boost the Mongolia-Swedish business ties.

* Appellate court upholds administrative court ruling * Says NEA can appeal ruling within 30 days * In compliance with all Mongolian laws - Khan CEO * Shares up as much as 23 pct (Adds CEO comments, background, updates shares)

Ottawa, Canada ( Vocus ) October 27, 2010

As I landed at the Genghis Khan Airport in Ulaanbaatar, Mongolia I thought about how little I knew about this country. Taxiing to the terminal, I looked out the window to see an array of old biplanes parked in a field, beside them were several Cold War-era Russian Tupalev passenger jets with dismantled engines, and next to all of this were a half dozen new Lear jets that are reserved for the rich and prosperous. Mongolia – a land of extremes.

Mongolia is one of the lucky "McDonalds Free" countries of the world. In Mongolia Mongolians eat fast food, they have their own, Khaan Buuz. Buuz is a mutton dumpling; I'm going to post about those later on Things that Fizz & Stuff.

AC Milan is not just a name – even though it is about the biggest name there is in the sport of soccer – it’s a philosophy.

Magnus Bocker , who stitched together eight European stock exchanges and sold them in a bidding war, is running into a wall with shareholders and politicians over his plan to acquire Australia’s main bourse.

Korea Elevator Safety Institute President Kim Nam-deuk held a second meeting with Ya. Sodbaatar, director of the State Specialized Inspection Agency of Mongolia, on Oct. 26 in Seoul to further bolster collaboration between the two countries in the realm of elevator technology.

Company grows to 450 employees from six and to $36 million from $3 million in one year

* Appellate court upholds administrative court decision * Says NEA has right to appeal ruling within 30 days

The Political Council of the Civil Will Party met yesterday and approved by majority vote the alliance offer of the Green Party.

Large foreign companies have borrowed USD760 million to finance their work in Mongolia but all of this is from foreign sources. With the Central Bank’s policy interest rates high, commercial banks cannot charge lower interests and thus cannot service loan demands. The Central Bank fears that pumping money into the market at the moment may destabilize the economy.

One hundred and ten per cent is the gain this year in the Mongolia Stock Exchange Top 20. It is a stellar index of companies that you"ve almost certainly never heard of and which mostly have something to do with coal. The story behind this breathless advance is one of depth and proximity, of mammoth metal and energy reserves sitting on the doorstep of mineral-hungry China. If you believe that China"s appetite will only swell from here, runs the argument, Mongolia should be a sure thing.

Alamar Resources (ASX: ALG) has entered into a conditional agreement to acquire 100% of MRCMGL LLC (Mongolian Resource Company), a growth-oriented Mongolian based diversified resource company engaged in the acquisition, development and operation of resource properties in Mongolia.

Company grows to 450 employees from six and to $36 million from $3 million in one year

The Mongol Bank and the Ministry of Finance have established a working group to study the introduction of a savings insurance system to protect account holders in banks. This will replace the present Government guarantee, and would also reduce pressure on the budget.

Established in the days of the transition to a market economy, the State Property Committee (SPC) has outlived its utility in the eyes of many who want it disbanded before it becomes totally irrelevant and an anachronism. Others feel its role should change, and it can be made responsible for arranging public-private partnership under the Concession Law.

Minister of Finance S. Bayartsogt and Ms. Coralie Gevers, the new Country Manager of the World Bank for Mongolia, signed today a USD30-million Financing Agreement in support of the significant reforms that the Government has been undertaking since it was hit by the economic crisis in 2008.

Ulaanbaatar, Mongolia, /MONTSAME/ The Mayor of Ulaanbaatar city G.Monkhbayar met Monday Mr. Yu Hongyao, the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Mongolia.

Ulaanbaatar, Mongolia, /MONTSAME/ State Honored Sportsman and Olympic champion N.Tuvshinbayar has set up a charity foundation named "Tuvshin" to support children who love sports.

MSE management tender bid was announced several months ago. As earlier reported by business-mongolia.com, Korean Stock Exchange, NASDAQ OMX, London Stock Exchange and Deutsche Borse interested in the tender bid. Even NASDAQ OMX and its Mongolian partner Mosdaq organised press conference and provided information to media.

The fashion industry is a product of modern age, it is applied art dedicated to clothing and lifestyle accessories created with the culture and social influences of a specific time. In Mongolia the industry has started its in early 90’s.

About court case on environmental damages caused by Puraam and Centerra Gold-mining companies:

Baku, Fineko/abc.az. The International Financial Corporation (IFC), entering into the World Bank Group (WBG), helps to improve the legislative and institutional environment for development of microfinancing in Europe and Central Asia that will enable increasing access to financing for microbusinessmen and population.

Part of World Bank Project to Improve Rural Living Conditions

NYSE-listed manufacturer Kyocera has installed two solar power systems in separate Mongolian villages through the World Bank’s Renewable Energy for Rural Access Project.

* Ivanhoe says Rio breached terms of private placement deal * Arbitration hearings scheduled for early 2011 (In U.S. dollars unless noted)

Priority 1. “Oyu Tolgoi” Project. Copper Concentrate Plant. Capable to process 100,000 tons of ore a day and 35 million tons of ore a year. The production capacity will be upgraded to 150,000 tons a day and 56 million tons a year.

DANVILLE, Calif., Oct 26, 2010 (GlobeNewswire via COMTEX) -- S3Investment Company, Inc. /quotes/comstock/11i!sivc ( SIVC 0.00, +0.00, +33.33%) today announced that Chairman and CEO Jim Bickel has traveled to China with planned stops in Mongolia and the Philippines to oversee activities of the company's Redwood subsidiaries, including the expected close of a Redwood Capital client transaction. Mr. Bickel will visit Beijing, Shanghai and Hong Kong, as well as Ulaanbaatar, Mongolia in support of Redwood Capital, Redwood Medical, the Redwood Private Equity Fund, and Redwood's newly formed Risk Investigation and Evaluation Division.

September imports of coking coal into China hit their highest level in terms of volumes since January 2010, with 4.17 million mt imported, up 7.5% on August figures but 2.7% less than in September 2009, according to China customs data seen by Platts Tuesday.

Members of the Government and representatives of Ministries and Agencies were present at yesterday’s meeting of the MPRP group in Parliament to answer questions or clarify points. The meeting discussed several issues, including the work implemented with MPs’ funds in their electoral districts. Lack of kindergartens is a major issue in many electoral districts. Many children born in 2007 have not been able to join a kindergarten this year as there is none near where they live in the countryside. Education Minister Yo.Otgonbayar said 38 kindergartens were opened this year and a USD12-million project to build many more is being discussed with the World Bank, and may be implemented before the start of the next school year. Many members felt there were not enough kindergartens in the outlying districts of Ulaanbaatar also.

Tseng Y. Ming, head of the Taipei Trade and Economic Representative Office in Ulaanbaatar, talks about the prospects and willingness of Taiwan to contribute to the international community.

Turkey and Mongolia signed a memorandum of understanding during the sixth term joint economic committee meeting in Ulan Bator on Tuesday.

Recently, many foreign executives and professionals have joined Mongolian companies and state organizations. Of course, for them this article might not be so interesting. Nevertheless, if this trend continues, many new foreigners will soon join Mongolian organizations and companies.

In recent days, the foreign exchange rate has been volatile, with the MNT getting stromnger. Director of Foreign Currency and Economic Board at the Mongol Bank, G.Delgermaa explains the situation.

Ulaanbaatar, Mongolia, /MONTSAME/ Parliament Speaker D.Demberel met Monday a delegation led by V.G.Maleyev, a head of the Russia-Mongolia parliamentary group at the State Duma of the Russian Federation (RF).

Ulaanbaatar, Mongolia, /MONTSAME/ A painting named "Ox" by a Mongolian artist A.Chadraabal has been sold at 1.5 million British Pound (MNT three billion and 45 million) at London Stock Exchange (LSE). About this he was officially informed last Friday by the LSE.

(Source: Info-Prod Research (Middle East)) Moody's Investors Service has assigned a Ba3 rating to senior unsecured notes drawn under the USD300 million foreign currency Euro Medium Term Note (EMTN) programme of the Trade and Development Bank of Mongolia LLC (TDB).

ULAANBAATAR, MONGOLIA, Oct 25, 2010 (MARKETWIRE via COMTEX) -- Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. /quotes/comstock/11t!e:sgq ( CA:SGQ 12.00, -0.07, -0.58%) (sehk:1878), announced today that the company has awarded a US$48 million contract to build a paved highway dedicated to the delivery of export shipments from SouthGobi's Ovoot Tolgoi coal mine to the Mongolia-China border crossing at Shivee Khuren-Ceke.

Prime Minister S Batbold, held unofficial meeting on Saturday and discussed with the media about the works and tasks of the Government. He stated that the government had worked with great success during the space of one year and many important works are ahead of them. One of the important issues is the Tavan Tolgoi deposit and they have established Erdenes Tavan Tolgoi JSC as a daughter company of Erdenes Mgl who owns the licenses of TT. Erdenes Tavan Tolgoi is looking to release 15 billion shares. 10 percent of the shares will be distributed to all Mongolian citizens, another 10 percent will be sold to Mongolia private businesses and 30 percent of the shares will be sold in domestic and foreign stock markets. According to the pre-calculations 1.5 billion stocks will distributed to the citizens and another words 500 stock per capita.

SINGAPORE - Singapore Medical Group Limited (SMG) today announced the intention to establish a joint venture for a flagship multi-disciplinary tertiary hospital in Ulaanbaatar, Mongolia, with Chono Corporation.

Per capita income for Mongolians is expected to rise to USD5,000 within the next two years and to a staggering USD12,000 by 2015. To put that into perspective, that"s about what the average Shanghainese earns now. However, the increase per capita income will be faster in Mongolia.

Ulaanbaatar, Mongolia, /MONTSAME/ Paying an official visit, a delegation headed by Mr. Bulent Arinc, the Deputy Premier and State Minister of the Republic of Turkey, was received Monday by S.Batbold, Mongolia's Prime Minister in the Government House.

Ulaanbaatar, Mongolia, /MONTSAME/ A second session of the United Nations Economic and Social Commission for Asia and the Pacific's (UNESCAP) Committee on Social Development ran October 19-21 in Bangkok city, Thailand.

Ulaanbaatar, Mongolia, /MONTSAME/ Mongolia-Sweden business forum dedicated to the spheres of mining, construction and infrastructure will run November 2-3 in Ulaanbaatar co-organized by the Embassy of the Kingdom of Sweden, the Center for Environmental Technology (CENTEC), the Swedish International Development Cooperation Agency (SIDA) and the Trade consul of Sweden in frames of the 20th anniversary of the Mongolia-Sweden cooperation.

Shares in Aspire Mining Ltd rose after an Ivanhoe Group company took a substantial stake in the junior coal explorer.

Joseph King Jun-chih, 43 and an accounting graduate from the State University of New York, and a friend founded North Asia Resources, which was acquired by Green Global Resources in July last year. Green Global, which used to be an agricultural and information technology firm, appointed King chairman in March. A month later it reverted to the name North Asia Resources, focusing on mining. Since Green Global"s acquisition, North Asia has been busy in Mongolia which has large reserves of minerals.

The Small and Middle Enterprise Board (SMEB) has just finished a review of the loan program in 21 aimags and Ulaanbaatar city. The review covered 365 economic entities which got a loan last year and 612 this year.

After Energy Resources or Mongolian Mining Corporation (MMC) successfully traded its shares at an international stock exchange, questions have resurfaced if ordinary Mongolians can ever hold shares in companies that work here. D.Achit-Erdene, President of the Mongolian International Capital Corporation (MICC), answers our journalist’s questions on the issue.

The World Bank’s Quarterly Economic Update says Mongolia has staged an impressive recovery from the steep recession of late 2008 and early 2009. Moreover, the economic recovery is becoming broad-based. Strong demand for copper and coal from China are fuelling the recovery, and are also helping to substantially improve the external balance. And imports are up by 55 percent in August on a year-on-year basis. The exception is the agriculture sector, due to the devastating impact of the dzud during the winter months, which wiped out substantial numbers of livestock.

Hong Kong's stock exchange has had a great run. The news from Singapore should be a warning sign that it can't take its good fortune for granted.

Rio Tinto Ltd's (ASX:RIO) will still pursue its planned Oyu Tolgoi copper and gold project in Mongolia despite some strain with Canadian partner Ivanhoe Mines.

Ulaanbaatar is abuuz with the excitement of the news that Starbucks might be coming to Mongolia.

Bulent Arinc will participate in a meeting of Turkey-Mongolia Joint Economic Commission.

RIO Tinto wants to speed up development of a copper and gold mine in Mongolia that's set to become one of the world's largest.

I’ve been talking up the imminent arrival of Mongolia as a hot new investing destination for years now, usually to hoots of derision.

As a public affairs officer, Maurer does press and media work for the embassy and coordinates cultural programming, educational programs, lectures and scholarships, such as Fulbright scholarships for research exchange programs between the United States and Mongolia.

The 3:00 am phone call was scratchy, broken, and barely intelligible. Would I be willing to accept a collect call from Ulan Bator, the capital of Mongolia? My man on the ground there was on the line with a stock idea that I absolutely had to get involved with. Mongolia Mining (975:HK) had just listed its shares on the Hong Kong Stock Exchange at $7, had already moved up to $8.30, and was headed for higher altitudes.

According to Renaissance Capital, the new gold rush to develop Mongolia's resources could make it the world's fastest-growing economy over the next 5 years, which projected gross domestic product would almost quadruple to USD 23 billion by 2013 from USD 6 billion.

With the induction of Golomt Bank, Khas Bank, State Bank and Capitron Bank on Monday, bank card network now has eight members. Khan Bank, Trade and Development Bank, Capital Bank, and Ulaanbaatar City Bank were already members of the network set up in June. Non cash transactions now account for 50% of total bank transactions, and with the addition of new members, it will increase further.

A Minerals and Mining Exchange has been set up, to act as a central entity to offer support to enterprises and individuals in the mining sector in their business, providing information to facilitate access to capital, trading partners, markets for mining products, better prices, supply chains, and to equipment. It will also coordinate trade and business activities in the sector so that entities can cooperate and reach a position of strength.

The Mongolian Stock Exchange trades for 90 minutes a day out of a former movie theater, eking out daily turnover in the neighborhood of USD70,000. Although the benchmark index is up more than tenfold in four years, its total market capitalization hasn’t quite topped USD1 billion. It is a market suitable only for well-informed insiders and the craziest speculators, which may be part of its rogue charm. Beyond the vicarious thrill, Mongol mania shows what gets people excited these days. Mongolia’s sitting on a supposed treasure trove of untapped mineral riches, next door to mineral-craving China.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet made Wednesday decisions to establish the "Erdenes-Tavan tolgoi" incorporated company and to allot necessary money from the "Erdenes MGL" LLC for forming the new company's authorized capital. The incorporated company will be an associated company of the "Erdenes MGL" LLC.

Ulaanbaatar, Mongolia, /MONTSAME/ Minister of Food, Agriculture and Light Industry T.Badamjunai gave a report at Wednesday's cabinet meeting on results of the Third campaign for reclaiming virgin lands.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet discussed Wednesday an issue of amendment to parliamentary resolution, made in September of 2001, on approval of directives for running the Millennium Road and Vertical Axis of Infrastructure. This will be submitted to parliament for consideration.

Ulaanbaatar, Mongolia, /MONTSAME/ The payment for air pollution will be one Togrog per one kilogram raw coal which is extracted by citizens and entities, in accordance with a decision made at Wednesday's cabinet meeting.

Officials from the Ministry of Health and related organizations have denied rumors that 14 patients received transfusion of blood from an HIV-infected donor. Among those who spoke to journalists were N.Khurelbaatar, State Secretary of the Ministry; S.Tugsdelger, Chief of the Social Health Policy Implementation Coordinating Board; S.Enkhbold, Chief of the Information Control Research and Estimation Board; Kh.Surenkhand, Deputy Director of the National Center for Infectious Diseases (NCID); N.Gantumur, Chief of the HIV and AIDS Research and Observation Office at the NCID; and P.Ulaankhuu, Chief of the National Center for Blood Analysis.

MONGOLIANS were until recently wont to describe themselves as “beggars sitting on a huge pile of gold”. The country has vast but largely untapped mineral deposits. Until recently wages were low and jobs scarce. Shoppers in Ulan Bator, the capital, were not spoilt for choice—unless they were in the market for dried meat, vegetables or furry hats.

For all the fanfare garnered by the world's largest gold miners, you might think they have a monopoly on the world's largest gold mines.

A delegation from Mongolia has toured sports facilities in Surrey as it considers where to base its nation's team during the 2012 London Olympics.

Mongolia-focused oil group Petro Matad ( LON:MATD ) may be able to extend the 2010 work programme, according to Westhouse Securities analyst David Hart.

Petro Matad has completed issue of 3,367,003 new ordinary shares to the European Bank for Reconstruction and Development.

Kell Nielsen has looked at between 80 and 100 mineral projects in the past eight weeks. That"s how it is in Mongolia these days. Nielsen, who heads Voyager Resources (VOR), knows the race is on between mining companies to lock up ground in Mongolia, which might be best described as the Next Big Thing in the resources world, says a report in The Australian.

Prime Minister S. Batbold is dealing with an imposing challenge: raising the standard of living for his tiny population of three million people, says a report in the Financial Post, Canada. Mongolia has done almost everything possible to open its doors to outside investment in recent years, but Batbold is aware that a lot more needs to be done. The country is only 20 years removed from the days of Soviet control, and is still finding its feet as an established democracy.

MP. Kh.Badamsuren, Vice Chairman of the Mongolian – Russian Federation Parliamentary Group and President of Mongolia – Russia Friendship Association shares his opinion on state involved JVCs.

Rio Tinto Group , building a $4.6 billion copper and gold mine with Ivanhoe Mines Ltd. , may have difficulty in blocking Ivanhoe’s planned $1 billion share sale should it choose to do so, according to RBC Capital Markets Ltd.

The Deputy Prime Minister of Mongolia has visited Kingston to determine if his country should base its Olympic team in Surrey during the London 2012 Games.

TEHRAN (FNA)- Mongolian President Tsakhia Elbegdorj in a meeting with Iranian accredited Ambassador to Ulaanbaatar Mehdi Safari pointed to the significant role played by Iran on the international and regional scenes, and underlined his country's readiness to expand ties with Tehran.

The data on social and economic indicators announced by the National Statistics Office give encouraging hope that Mongolia is coming out of the recession and the economic crisis. Some selected indicators are given below.

Russian funds made a hoopla out of the leading RTS index giving the Chinese stock market a drubbing over the last decade, returning five times as much, or a bit more than 750%. But they go quiet when you mention Mongolia, the best performing market in the world over the last decade, up a bit more than 1,600% over the same period, says a Business News Europe analysis.

Ulaanbaatar, Mongolia, /MONTSAME/ The Amateur Sumo World Championships took place October 16-17 in Warsaw, Poland. Mongolia was represented there by 18 male and female sumoists.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet secretariat of Mongolia's Government will continue co-operating with Konrad Adenauer Foundation of Germany. On Tuesday, the sides inked a related memorandum to prolong the cooperation memorandum that was concluded in 2007.

Taipei, Oct. 19 (CNA) Since the Taiwan Fund for Children and Families (TFCF) opened its first overseas branch in Mongolia in 2004, positive results have been achieved in helping poverty-stricken children and families there escape their plight.

Hunnu Coal Limited (ASX: HUN) has announced the raising of $AUD40 million through a placement to institutional and sophisticated investors to accelerate the exploration and development of the Company’s coking and thermal coal projects in Mongolia.

Mongolia and Ghana received “compliant” status from the Extractive Industries Transparency Initiative, a corporate, civil society and government-composed group devoted to increasing financial disclosures in the oil, gas and mining industries.

HONG KONG, CHINA, Oct 19, 2010 (MARKETWIRE via COMTEX) -- Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. /quotes/comstock/11t!e:sgq ( CA:SGQ 10.32, +0.16, +1.58%) (sehk:1878), today provides an update on sales, operations and announces personnel changes.

Leyshon Resources Ltd. (LRL.AU), an Australian gold mining company, said Tuesday that during the September quarter it continued to review, and is continuing to undertake due diligence, on a number of project investment opportunities, some of which have the potential to meet the Company's investment criteria.

RIO Tinto has threatened to block a proposed $1 billion rights issue by its Canadian partner in Mongolian copper, Ivanhoe Mines.

Hunnu Coal Limited ( ASX:HUN ) announced today its firm commitment from subscribers to participate in the placement through an issue of 50 million shares at 80c to raise A$40 million before costs.

President of Mongolia Elbegdorj Tsakhia has issued a Decree to commemorate the 2220th anniversary of the First Mongolian State and provided directives to the Government associated with this major undertaking.