Tuesday, August 5, 2014

Mongolia Brief August 5, 2014 Part II

Golomt Bank to Cooperate with Hungarian Export Import Bank

Ulaanbaatar, August 5 (MONTSAME) The “Golomt” commercial bank of Mongolia Monday reported that it has concluded a Medium Term Credit Facility agreement with the Hungarian Eximbank.

The financial agreement has been signed by L.Bolormaa, Chief Investment Officer of Golomt Bank and by Mr Andras Puskas, Deputy CEO, and Mr. Zsolt Demkó-Szekeres, Director, Trade Finance of Hungarian Eximbank in Budapest. The signing ceremony also has been attended by representatives of the Mongolian Embassy in Budapest and the Ministry for National Economy of Hungary.
In accordance with the agreement, the Hungarian Eximbank will finance investments and projects which are realized with purchasing Hungarian goods or services.  Moreover, the banks will support Hungarian exports of medical equipment, environmental protection and water treatment equipment, and agricultural machinery to Mongolia.
At the ceremony Bolormaa Luvsandorj, Chief Investment Officer said: "As Golomt Bank, we believe that this facility agreement will lead to strengthening of the already existing economic relationship of the two countries, Hungary and Mongolia. On the basis of this agreement, Golomt will show its best effort to support companies which will import goods and services from Hungary. Golomt is pleased to take the opportunity to contribute to further enhance current economic relationship between two nations,"

Stock Exchange News for August 5

Ulaanbaatar, August 5 (MONTSAME) At the Stock Exchange trades held Tuesday, a total of 14 thousand and 277 shares of 14 JSCs were traded costing MNT 16 million 959 thousand and 080.40.
"Remikon” /5,380 units/, "Hermes center” /4,930 units/, "Tavantolgoi” /1,662 units/, "Mongolia Development” /1,000 units/ and "Hai Bi Oil” /607 units/ were the most actively traded in terms of trading volume, in terms of trading value--"Tavantolgoi” (MNT seven million 952 thousand and 760), "Atar-Orgoo” (MNT three million and 264 thousand), "Gazar suljmel” (MNT one million and 710 thousand), "Hermes center” (MNT 838 thousand and 100) and "Gobi” (MNT 816 thousand and 510).
The total market capitalization was set at MNT one trillion 589 billion 346 million 060 thousand and 359. The Index of Top-20 JSCs was 15,753.72, decreasing by MNT 5.38 or 0.03% against the previous day.

E.Monkhbileg to Judge Youth Olympic Games

Ulaanbaatar, August 5 (MONTSAME) A Mongolian judge Monkhbileg Enebish has been qualified to judge the table tennis event of the 2014 Summer Youth Olympic Games (YOG) to take place on August 16-28 in Nanjing, China.
The selection of judges for the YOG started from the last year in two stages, and the Mongolian judge competed in the selection from the second stage. In the final stage ran in January of 2014, he was selected as one of the four judges alongside his counterparts from China, Hong Kong and Malaysia out of 12.
This is not a debut for Monkhbileg to judge the YOG. In the 2010 YOG of Singapore, he worked in the judges’ panel of the table tennis event. Moreover, he has judged the 2011 World Table Tennis Championships, the 2011 ITTF World Junior Table Tennis Championships, the 2012 Hungarian World Tour, the 2012 Slovenian World Tour, the 2012 Final London Olympic Qualification Tournament, the 2012 US Open, the 2013 World Team Cup and the 2013 Kazan Summer Universiade.
Nanjing Summer Youth Olympic Games is expected to attract some 3,600 athletes from 198 countries to compete in 28 events. As of today, Mongolian athletes have been qualified to compete in judo, shooting and wrestling.

Internom Bookstore Announces Bestsellers

Ulaanbaatar, August 5 (MONTSAME) The first volume of the "1Q84" by a Japanese Murakami Haruki has topped again the list of bestseller books.
The “Internom” bookstore Tuesday named its bestsellers for the last week sold from July 28 to August 3. The top book was followed by the "Lean In: Women, Work, and the Will to Lead" by Sheryl Sandberg who was included in the list of 100 people of the year 2013 by the Time; and by the “One Hundred Years of Solitude” by Gabriel García Marquez.
Other bestsellers were “English-Mongolian and Mongolian-English pocket dictionary” by Oxford Monsudar; “Mongolians: 17-20th century” by S.Chuluun; “English-Mongolian dictionary” by Oxford Monsudar; "Sorghaghtani" historical roman both by B.Sarantuya; “Green Eyed Monk” by Ts.Oyungerel; “English Grammar” by A.Myagmarsuren; and “Motivational stories-IV” by M.Elchi.

V.Putin to visit Mongolia

August 5 (news.mn) Russian President V.Putin will pay an official visit to Mongolia on September 3rd.  Former Prime Minister of Russia V.Putin visited Mongolia upon invitation by former Prime Minister of Mongolia, S.Bayar in 2009.
President Ts.Elbegdorj had a meeting with his Russian counterpart President V.Putin at  the Fourth Summit of the Conference on Interaction and Confidence-Building Measures in Asia (CICA) took place on May 20 and 21 in Shanghai, China.
During the Summit, President Ts.Elbegdorj invited Russian President to celebration for the 75thanniversary of Khalkh gol battle victory.  The 75th anniversary of Khalkh gol battle victory will be celebrated on August 27th.  And now it is certain that Mr V.Putin will not be present at the celebration of the anniversary.
Mongolia wants to expand traditional bilateral economic relations with Russia. During the visit by Russian President V.Putin to Mongolia, issue to increase trading volume, and other issues will be raised.
According to Russian TAR-TASS news report, Mongolia and Russia hope to sign an agreement on visa-free regime.

Mongolian Female Freestyle Wrestlers Grabbed 7 Medals

from Poland Open

August 5 (infomongolia.com) The XVIII International FILA tournament "Poland Open" which dedicated to the memory of Vatslav Tsiolkovsky was held in Dabrowa Gornicza, the Republic of Poland on August 3rd and August 4th, 2014 in which the 80 female freestyle wrestlers have competed from Azerbaijan, United States, UK, Belarus, Bulgaria, Spain, Italy, Kazakhstan, Canada, Kyrgyzstan, Latvia, Moldavia, Mongolia, Russian Federation, Peru, Poland, Romania, Tunisia, Turkey, Slovakia, Ukraine, Hungary, France, Germany, Switzerland, Estonia and Japan.
Mongolia’s female freestyle wrestling national team which consists of 11 athletes have very successfully attended in the tournament and grabbed 3 gold, 1 silver and 3 bronze medals from the “Poland Open”.
On the first day of the tournament, S.Byambatseren won the gold in 55 kg category, S.Tserenchimed won the gold in 60 kg and P.Orkhon took the bronze in 55 kg category. On the second day, S.Battsetseg won the gold in 63 kg category, E.Sumiya took the silver in 53 kg category, E.Davaachimeg took the bronze in 53 kg and O.Burmaa took the bronze in 75 kg accordingly.
The winners in each category were awarded by the Gold medal, Certificate along with 3,000 Euro prizes, the runner ups and third place winners were awarded by the Silver and Bronze medals from the organizing committee of the XVIII International FILA tournament “Poland Open”.

Mongolian Stock Exchange Interested in "Bloomberg Terminal" Electronic Trading System

August 5 (infomongolia.com) On July 30th, the Mongolian Stock Exchange (MSE) had been obliged to conduct required investigation and report back to the Ministry of Finance of Mongolia in nearest future regarding the MSE's current work-breakdown structure on its' availability and acceptable assuranceof software solution, clearing, payment withdrawal and balance statement in accordance with the laws and regulations; as well as, to ensure potential readiness of overall broker dealer companies listed in Mongolian stock market when the Government Bonds inactive auction through the MSE's daily stock trading operation.
In regard with this issue, the Acting CEO of Mongolian Stock Exchange JSC D.Angar had received the representatives from the Bloomberg Asia-Pacific financial market on August 4th through which they exchanged their views and opinions regarding the post-adoptive usage of Bloomberg Terminal electronic trading system in terms of issuing Government Bonds as a first phase auction trading in Mongolian Stock Exchange.
As of today, the Bloomberg Terminal electronic trading system is under active facilitation in the stock markets of Great Britain, Sweden, Belgium, South Africa, Finland and Georgia.
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