Mongolian Economy and Finance

VANCOUVER, BRITISH COLUMBIA, Feb 27, 2012 (MARKETWIRE via COMTEX) -- Prophecy Coal Corp. ("Prophecy" or the "Company") CA:PCY -1.00% (otcqx:PRPCF)(frankfurt:1P2) is pleased to announce the Company will be holding its official TSX listing ceremony at the TMX Broadcast Centre in Toronto, Ontario on Monday, February 27th beginning at 9:00 am EST. Mr. John Lee, Chairman and CEO of Prophecy, will open the market at 9:30 am EST along with Prophecy personnel, members of the Board and senior representatives from the TMX Group.

Male and female Mongolian judo wrestlers won a combined four medals at their respective World Cups, held February 25th to 26th.

(Reuters) - A strong 6.8 magnitude earthquake hit Russia's southeastern and sparsely populated region of Tuva on Sunday, shaking residents near the Mongolian border from their sleep, but there were no immediate reports of injuries or damage.

An international expedition to Mongolia says an ancient wall made from earth and wood in the Gobi desert is part of China's Great Wall.

A report released by the World Bank in February 2012 indicates that Mongolian GDP growth accelerated to 17.3% in 2011. The unemployment rate fell by 9% in 2011, and by 11% in 2010.

Chairman of the National Assembly of Lao People’s Democratic Republic Mrs. Pany Yathotou came in Mongolia on February 25 by the invitation of the State Great Khural’s Speaker D. Demberel.

The $6-billion Oyu Tolgoi copper and gold project in Mongolia is on track to meet its initial production targetted to commence in the third quarter of this year with the construction of the mine's first phase reaching 73 percent completion, owner Ivanhoe Mines Ltd. announced on Monday.

Professor of Political Science at the United States Air Force Academy, Dr. Fran Pilch arrived in Mongolia via the Fulbright Scholarship Program. Below is her interview translated from “Unuudur” newspaper.

Mongolia, one of the fastest-growing economies in the world, is at risk of overheating and faces growing inflationary pressures because of a surge in government spending, the World Bank and the International Monetary Fund have warned.

There are reports that newly-appointed Defense Minister J.Enkhbayar illegally dismissed several ministry officials after assuming his new post.

It has been reported that the Chinese company Chinalco Ltd has sent an official letter to the executive director of Erdenes Tavantolgoi LLC asking to cancel a coal-purchasing agreement.

On January 6, petroleum importers raised gasoline prices by MNT 270 per liter, blaming the falling rate of the tugrik against the U.S. dollar for the increase.

The National Security Council (NSC) discussed water issues affecting the Gobi region on Thursday.

Parliament’s autumn session went into recess on Thursday.

On Thursday, women politicians met at the Chinggis Hotel. In attendance were women MPs, deputy ministers, business owners, doctors, teachers, economists, and representatives of local settlements.

The fifth conference of the Social Democracy Mongolian Youth Union (SDMYU) is being held at the Independence Palace, with 360 young delegates taking part.

The Mongolian People’s Revolutionary Party (MPRP), Mongolian National Democratic Party (MNDP), Republican Party (RP), Mongolian Liberal Party (MLP), and Mongolian Democratic Development Party (MDDP) signed a memorandum of understanding on Friday.

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet made on Wednesday a decision to appoint O.Och as the Permanent Representative of Mongolia to the United Nations Headquarters.

Ulaanbaatar, Mongolia /MONTSAME/ The Speaker has thanked Mr. Jong IL for big efforts to widen the bilateral ties in the fields of politics, trade, economics, culture, education and the inter-citizen relations.

Ulaanbaatar, Mongolia /MONTSAME/ The parliamentary session on Thursday passed its draft resolutions on altering the 39th parliamentary resolution on exploiting Tavan tolgoi coal deposit.

While Altan Urag and Jonon are certainly the most well-known folk rock bands, plenty of others are adapting traditional Mongolian instruments to more modern genres.

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet meeting on Wednesday made some decisions to improve meat supply and to regulate its sale.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet backed on Wednesday the results of the Mongolia-Canada fifth round table meeting that ran on December 1-2 in 2011 in Ottawa, Canada.

Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, the cabinet got acquainted with a process of constructing a universities campus and then backed a plan of works to be done this year.

Ulaanbaatar, Mongolia /MONTSAME/ The Prime Minister S.Batbold has thanked Mr. Jong IL, the Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Mongolia, for his big efforts to widen the bilateral ties in the fields of politics, trade, economics, culture, education and the inter-citizen relations.

Ulaanbaatar, Mongolia /MONTSAME/ One-time benefit compensations will be given to 352 people who have lost working abilities due to accidents or occupational illnesses.

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet meeting on Wednesday discussed and backed a draft law on ratifying a financial agreement between the governments of Mongolia and the Republic of France.

(Corrects Enkhbaatar comments in final paragraph of Feb 10 story. Third phase of the project will be delayed until after 2017, not first and second phases)

Mongolia prompts visions of nomads, Genghis Khan and vast grassy steppes.

Hogan Lovells and Sullivan & Cromwell have advised Goldman Sachs on its purchase of a 4.8% equity stake in the Trade & Development Bank of Mongolia.

As the world's fastest growing economy, Mongolia has the most promising untapped deposits of iron, gold, silver and coal in the world--but will it serve as a curse or a blessing?

A battalion of 850 Mongolian Armed Forces soldiers is preparing to take part in peacekeeping operations in South Sudan.

The Ministry of Nature, Environment and Tourism is organizing a winter tour called “Nomads Tour 2012” for children and youth.

On Wednesday, the Standing Committee on Justice discussed the final versions of draft laws on the courts and on rules for judges and voted to send the drafts to Parliament for ratification.

At the Government meeting on Wednesday, members discussed the “100,000 Apartments” program.

The Speaker’s Council met on Wednesday to discuss several issues.

At the Government meeting on Wednesday, members discussed fuel prices. After the meeting Finance Minister D.Khayankhyarvaa informed journalists about the discussion.

Every two years, the Union of Mongolia’s Cities and the Local Management Union select the “best leaders” in local governments.

The MPP caucus met on Thursday to discuss the current situation of the state but did not release information about the meeting to journalists.

The DP caucus met on Thursday and decided to call for a special session of Parliament to last until Tsagaan Sar to address several urgent issues.

Ulaanbaatar, Mongolia /MONTSAME/ The parliamentary Standing committee on security and foreign policy has set up a working group after getting acquainted with activities of the Defense Ministry and the Armed Forces of Mongolia.

Ulaanbaatar, Mongolia /MONTSAME/ The parliamentary faction of the Democratic Party (DP) has decided to set up a working group in charge of the Ukhaa khudag coal deposit and of a matter on newly-discovered reserves at the Oyu tolgoi gold-copper deposit.

Ulaanbaatar, Mongolia /MONTSAME/ The Ministry of Environment and Tourism has decided to register Burkhan Khaldun Mountain and the reserved area of Daguur in the list of the UNESCO Cultural and Natural Heritage.

Ulaanbaatar, Mongolia /MONTSAME/ Researchers and scholars have considered forms and ways of realizing the Asian Partnership Initiative for Democracy.

Ulaanbaatar, Mongolia /MONTSAME/ The Ambassador of China to Mongolia Wang Xiaolong has pointed out that the health sector is one of the important fields in the Mongolia-China cooperation.

Ulaanbaatar, Mongolia /MONTSAME/ The Principality of Monaco has decided to make a financing of EUR 125 thousand for implementing a project on improving rehabilitation therapy activities in Mongolia.

Move One continues to experience success in Mongolia, despite tight deadlines, challenging security, and the freezing cold.

The man expected to be China’s leader for the next 10 years, Xi Jinping, arrived in the United States on Monday, Feb. 13.

China’s defense budget will double between 2011 and 2015 and outstrip the combined spending of all other key defense markets in the Asia-Pacific region, global research group IHS said Feb. 14.

As Mongolians prepare for next week’s Mongolian Lunar New Year festivities, government and non-governmental organizations are celebrating the passage of two long-awaited pieces of legislation that the Parliament of Mongolia passed in January.

The following in-depth interview was conducted by Peter Epstein with the CEO of SouthGobi Resources, Alex Molyneux.

Speakers at the 2012 Coal Mongolia conference claim Chinese demand as the key to Mongolia’s mining future.

Guwahati, Feb 15 (IANS) Indian state Assam is soon to join the league of countries demanding inclusion of Sumo wrestling in the Olympic Games.

Weekly news video covers news, developments and management changes relating to the world’s largest accounting firms: Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC.

Mongolia, ruled by a Communist regime from 1921 to 1990, had no Catholics in 1991, according to the Fides news agency.

Pressure may be easing for steelmakers and with it the prospects, in some regions at least, of slightly improved margins.

Officials Wednesday were advising rock climbers at Joshua Tree National Park to use helmets after a San Diego man fell 50 feet and injured his head.

Mineral riches beneath the arid soil of Mongolia could soon make the sparsely populated country the world’s fastest-growing economy.

As part of the Government’s efforts to launch its “100,000 Apartments” program before the 2012 parliamentary election, Parliament has ordered construction to begin on 2,500 new apartments in March.

Finance Minister D.Khayankhyarvaa received managing officials of the Development Bank (DB) on Tuesday to discuss the bank’s activities.

On Tuesday, Parliament discussed the first versions of draft laws on education and on higher education.

The Ministry of Social Welfare and Labor and the Women’s United Association (WUA) group “National Harmony” jointly organized a conference aimed at improving working conditions for vendors in open markets.

The Khan-Uul district has had a cooperative agreement with the city of Ereen in Inner Mongolia since 2002.

On Wednesday, the Standing Committee on State Structure discussed the first version of a draft law to exempt electronic voting machines purchased by the state from customs taxes and the VAT.

MP E.Munkh-Ochir says all companies doing work at the Tavantolgoi mining project should share their profits with citizens.

The NGO Mineral Resources and Mining Exchange is holding its second “Miner & Supplier” forum at the Chinggis Hotel on March 15 and 16.

The new Road, Transportation and Urban Development Minister, Ts.Dashdorj, inspected the facilities of the Civil Aviation General Authority (CAGA) and the Railway Managing Office (RMO) on Tuesday.

Ulaanbaatar, Mongolia, /MONTSAME/ A trade exhibition-fair "Made in Mongolia" will be run in Irkutsk city, the Russian Federation, on 1-4 March of 2012 for the first time.

Ulaanbaatar, Mongolia /MONTSAME/ The very first session of the Partnership for Women's Oraganizations at the political parties of the State Great Khural will take place on Thursday in the Chingis Khaan hotel.

Ulaanbaatar, Mongolia /MONTSAME/ A forum called "Mongolian brand around the world 2012" will be held on February 16.

Ulaanbaatar, Mongolia /MONTSAME/ By first one month of this year, total revenue and grants of the General Government Budget (GGB) amounted to MNT 325.8 billion and total expenditure and net lending amounted to MNT 260.0 billion.

Ulaanbaatar, Mongolia /MONTSAME/ In January 2012, Mongolia's total external trade turnover reached USD 735.2 million by making trade with 94 countries from all over the world.

Ulaanbaatar, Mongolia /MONTSAME/ In January 2012, the total industrial output increased by MNT 8.3 billion or 5.7 per cent to MNT 154.8 billion (at 2005 constant prices) against the previous year.

Ulaanbaatar, Mongolia /MONTSAME/ In January of 2012, 1,733.8 thousand tons freight and 293.7 thousand passengers--at a duplicated number--were carried by railway transport.

The recent Absolute Wealth newsletter talks about how to trade the markets, and discusses that there are rumours of one of the world’s rare earth producers losing its ability to export rare earths because of environmental concerns.

Mongolia is land-locked country in East and central Asia, bordered by Russia to the north and China to the south, east and west.

A Government Assembly meeting was held regarding TT’s nominal value stocks that are in its 39th Protocol.

Mongolia has overtaken Australia to become China’s largest coking coal supplier in 2011 due to rapid ramp up of its coal production and competitive coal export prices.

Copper rolled losses into a third straight day on Tuesday, hit by weaker-than-expected US retail sales data, persistent concerns about European debt, and scant Chinese purchases that may keep the market on its back foot in the days ahead.

Mongolia is land-locked country in East and central Asia, bordered by Russia to the north and China to the south,east and west.

Outbreaks of FMD in Mongolia affect domestic sheep, goats, camels, and cattle as well as Mongolian gazelles.

Prime Minister S. Batbold has given city officials an order to sell bulk meat to medium and low-income households.

Ulaanbaatar, Mongolia /MONTSAME/ A Vice Speaker and head of the State Commission on Management and Organization Rehabilitation of Politically Repressed N.Enkhbold granted on Tuesday certificates of honor to some people.

Mongolian Honored Artist D.Sosorbaram has organised an ethnic music concert to be held on February 18-19 at the Mongolian Labor Union Cultural Center.

TIDMNOVA RNS Number : 4027X Nova Resources Limited 14 February 2012 Nova Resources Limited ("Nova" or the "Company")

The Government has declared 2012 a year of supporting households, and, in line with that, the Ulaanbaatar Administration has prepared a program called “Citizen Participation and the Year of Supporting Households.”

The DP caucus discussed two issues on Monday: amendments to the law on local elections and mining at the Tavantolgoi project.

The Standing Committees on Budget and on Economics held a joint meeting on Monday to discuss a proposed agreement between the Government of Mongolia and the World Bank’s International Development Association (IDA) to reduce air pollution in Ulaanbaatar.

The Standing Committee on Security and Foreign Policy discussed the appointment and resignation of ambassadors on Monday.

On Monday, Prime Minister S.Batbold visited markets where meat from the state’s meat reserve is being sold.

Parliament on Tuesday discussed two competing draft laws on local elections, one that would have local elections held the same day as the parliamentary election, and one that would have local and parliamentary elections held separately.

On Monday, the Standing Committees on Budget and on Economics jointly discussed a proposed USD 20 million (JPY 1.5 billion) loan agreement between the Government of Mongolia and the Japanese Organization for International Cooperation.

The Ministry of Mineral Resources and Energy has ratified “Hard Minerals and Resources Reserve Category of Mongolia” and “Rules to Use Category of Hard Minerals and Resources of Deposit Mine Reserves” in accordance with Order No. 022 of the Mineral Resources and Energy Minister on January 19, 2012.

Ulaanbaatar, Mongolia /MONTSAME/ Last year, the Gross Domestic Product of Mongolia (GDP) reached MNT 10,829.7 billion at current price, increasing by 19.8 per cent in the first quarter of 2011.

Ulaanbaatar, Mongolia /MONTSAME/ The national consumer price index in January of this year increased by 2.8 per cent against the previous month.

Ulaanbaatar, Mongolia /MONTSAME/ The faction of the Democratic Party (DP) discussed on Monday a draft amendment to the law on local election and matters on exploiting the Tavan tolgoi coal deposit.

Moody’s put the UK, France and Austria on negative outlook late on Monday night, raising the prospect that the three countries would lose their triple A ratings due to exposure to the eurozone debt crisis.

“To Search for the Hermit and Not to Find Him” is the title of an old Chinese poem from Jia Dao, an author from the Tang Dynasty.

Mining giant Rio Tinto has lost a bid to appeal to the High Court over an employment agreement with its Pilbara iron ore workers.

HONG KONG, CHINA — SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) announced today the successful commissioning and startup of the dry coal-handling facility ("DCHF") at its Ovoot Tolgoi coal mine in southern Mongolia.

Thomas McCarthy, director of the snow leopard programme for the conservation group Panthera, has spent nearly two decades crisscrossing the Himalayan plateau to study a magnificent, densely furred, rosette-stenciled cat that may well be the world’s most reliable no-show.

Inner Mongolia Autonomous Region, China's leading coal producer discovered new coal reserves of 17 billion tonnes in 2011 bringing the total coal reserves to a record 770.3 billion tonnes.

When Chinese Vice President Xi Jinping visits the White House on Valentine's Day, he and President Barack Obama aren't expected to exchange words of love over energy.

Folk rock band Altan Urag took to the stage at the Cultural Central Palace on February 8 for their ‘Our Mongolia’ performance. In the capacity crowd was the President of Mongolia, as well as several prominent Members of Parliament. The ‘Our Mongolia’ theme was evident from the first song. The group opened with the traditional folk song ‘Mother Mongolian,’ and their harmony was in perfect form. Several other wonderful long songs were performed accompanied by the traditional instruments including the morin khuur and yoochin. Otgontuya.B performed her long song ‘Great Mongolia,’ which was absolutely wonderful, before Altan Urag returned to finish with ‘Native Mongolia’ as song of great national pride. Since most of the songs were well known to the audience, they enthusiastically sang along. It was a fantastic concert overall and highly recommended.

SouthGobi Resources ( TSE:SGQ ) (HK:1878) announced Monday it has commissioned and started-up the dry coal-handling facility at its Ovoot Tolgoi coal mine in southern Mongolia.

Mongolia has overtaken Australia to become China's largest coking coal supplier in 2011 due to rapid ramp up of its coal production and competitive coal export prices.

All Bets on Black.

If you missed going long on the Mongolian Tugrik -- if, like most people, you've never heard of the Mongolian Tugrik -- now's your chance to make up for lost time.

The State Academic Theatre of Opera and Ballet will perform the ballet Spartacus by Aram Khachaturian on February 18 and 19.

Parliament on Friday rejected a proposed agreement for Mongolia to borrow money from South Korea’s Economic Development Cooperation Fund.

On Friday, 1,000 citizens joined the MPP in a ceremony at the party’s Independence Palace headquarters.