Mongolia Brief September 10, 2014 Part II
Mongolian
Stock Exchange Extends Partnership with London Stock Exchange Group
September 10
(infomongolia.com) On September 09, 2014, London Stock Exchange Group (LSEG)
and the Government of Mongolia represented by Ministry of Finance have signed
an extension to their strategic partnership agreement between LSEG and the
Mongolian Stock Exchange (MSE).
The agreement
was signed in London by Finance Minister of Mongolia Chultem ULAAN and CEO of
LSEG Xavier Rolet and under the document parties will extend LSEG’s partnership
with the MSE by a further three years and allow the two companies to build on
the progress achieved to date.
In 2012, the
Mongolian Stock Exchange successfully migrated to the new Millennium IT
trading, market surveillance and depositary platform, marking the culmination
of a 14-month project to modernize the country’s capital markets
infrastructure. In addition, LSEG has developed a wide-ranging education
programme for market participants and worked with the Mongolian government to
re-draft the country’s capital markets regulations and securities law.
Xavier Rolet,
CEO London Stock Exchange Group said, “I am delighted to welcome Ch.Ulaan, the
Finance Minister to London Stock Exchange to open trading this morning. The
Ceremony is a symbol of our very close relationship with Mongolia and reflects
our successful partnership with the Mongolian Stock Exchange. The extension of
our partnership underlines the significant interest in London in working with
Mongolia to help the country realize its exciting potential. We look forward to
the future and continuing to partner with Mongolia”.
Finance
Minister of Mongolia Ch.Ulaan noted, “We are delighted to have London Stock
Exchange Group as our strategic partner in the ongoing modernization and
development of the Mongolian Stock Exchange. We aim to transform MSE into a world-class
market with international best practices and standards over the next three
years. With the global business and technological expertise of London Stock
Exchange Group, we will achieve this goal”.
As part of the
extended agreement, LSEG will work with MSE on several new areas including Post
Trade infrastructure, FTSE Index development and we will investigate
opportunities for trading new products and asset classes, including commodity derivatives
and FX, reports the MSE.
Mongolia
Selects Bloomberg as Official Auction Platform
for
Government Bonds
September 10
(infomongolia.com) On September 09, 2014, Minister for Finance of Mongolia
Ch.Ulaan who is conducting a working visit to London, UK, signed a Memorandum
of Understanding commencing the partnership between the Government of Mongolia
and Bloomberg for the electronic auction and allocation of Mongolian Government
Bonds.
The Government
of Mongolia has made significant progress in developing its Government Bond
Market since its launch. The Ministry of Finance is implementing comprehensive
measures to increase market efficiency, transparency, ease of accessibility and
open the market to a broader investor base.
The decision to
conduct auction and allocation of Mongolian Government Bonds on the Bloomberg
Auction System reflects the ongoing desire and objective of the Ministry of
Finance to ensure that the Mongolian market is as efficient, transparent and
competitive as possible. The Bloomberg Bond Auction System for Mongolian
Government Bond is expected to launch in Q4 2014.
“We believe
that the selection of Bloomberg’s Bond Auction System reflects the continuing
commitment of the Government to develop the domestic bond market, and
ultimately the financial market. Mongolia is on a rapid growth trajectory in
the long-term and developing the domestic financial market is the cornerstone
of such success”, said Minister Ch.Ulaan.
Bloomberg's
Head of Emerging Markets Product David Tamburelli noted, "We are delighted
to add the Mongolian Government to a growing list of worldwide issuers that are
using our bond auction platform. Bloomberg's bond auction system allows primary
issuers to mitigate operational risks while providing market participants with
an efficient, secure bidding environment".
“History
of Europe” Art Exhibition by Renata Fucikova
Runs
in Ulaanbaatar
September 10
(infomongolia.com) On September 09, European Commissioner for Education,
Culture, Multilingualism and Youth, Mrs. Androulla Vassiliouopen participated
in the opening ceremony of the “History of Europe” exhibition being run at the
Red Ger art gallery in Ulaanbaatar until September 27, 2014.
The exhibition
by Czech artist Renata Fucikova, depicts the history of Europe from thousands
years ago to the present day and being organized in cooperation with the Embassy
of the Czech Republic in Ulaanbaatar. This exhibition is a part of the official
celebration of the 25th anniversary of diplomatic relations between Mongolia
and the EU.
Related:
Ms
Androulla Vassiliou attends exhibition opening – Montsame, September 10
First
World Nomad Games Commence in Cholpon-Ata City of Kyrgyzstan
September 10
(infomongolia.com) On September 08-14, 2014, the First World Nomad Games are
being organized at Issyk-Kul in Cholpon-Ata city of Kyrgyzstan, where sports
delegations from Afghanistan, China, Mongolia, Turkey, Azerbaijan, Gagauzia (an
autonomous region of Moldova), Kazakhstan, Tajikistan, Turkmenistan,
Uzbekistan, and over 10 subjects of the Russian Federation, as well host nation
Kyrgyzstan are participating in this ethnic sport games, cultural, musical and
theatrical events within the framework of the Games.
The World Nomad
Games is an analogue of Olympic, Asian and Paralympic Games and being hosted
under tourist project that aims to develop traditional, national games of many
nomadic nations and to strengthen the international and sporting links with
foreign countries through competition. The project is presented on behalf of
Kyrgyzstan and as a competition organizer will be represented by two teams in
each sport. Also, viewers will see national exhibition game and a number of cultural
events.
Mongolia is
participating with its traditional wrestling athletes to introduce and promote
the culture, customs and rules of Mongolian traditional wrestling.
The program of
the World Games of Nomads includes games such as:
- Kok-Boru,
Kyrgyz traditional horse game in which two teams of riders face off in a field
and attempt to carry a goat or calf carcass into the opposing team’s end zone,
- Toguz
Korgool, a mancala game, which is played with a field of 2x5 pits and 90 goat
droppings,
- Kyrgyz Kuroshu,
traditional wrestling on the belts,
- Alysh,
traditional wrestling on the belt,
- Oodarysh, two
contestants wrestle on horseback,
- At Chabysh, a
long-distance horse race,
- Zhorgo
Salysh, sport races of amblers at great distance
- Kunan
Chabysh, a short-distance horse race,
- Ordo, ancient
game with alchiks,
- Kyz-Kuumai
the race which is regions of attended by the bride, groom, and their friends
the where the main aim is to catch the bride and to country kiss her;
The winners of
such national games as Tyin Emmei (picking up a coin from the ground at full
gallop), Kulatuu (Kyrgyz fight), and Salbuurun (similar to Kok-Boru) are also
expected to be awarded with medals.
PM
Addresses Forum of Int’l Investors
By B. Khuder
Ulaanbaatar,
September 10 (MONTSAME) The current cabinet has made some reforms to create
good legal conditions for the oil sector, to attract investors, to improve a
competitiveness, and to back the sector of non-traditional oil sphere.
The Prime
Minister N.Altankhuyag said addressing the opening of an international
investors’ forum themed “Oil and shale-2014”. The action kicked off Wednesday
in the “Tuushin” hotel with a participation of some 300 delegates from the world’s
biggest oil companies such as the “Rosneft”, “Petrochina”, “British gas”,
“Snopes” and others.
The Premier
said the Mongolian parliament adopted the state policy on mineral sector and a
draft amendment to the law on oil, therefore the country has now a legal
environment for attracting investments in the non-traditional oil sector such
as shale and coal-bed methane.
He also said
that the legislative body passed bills on exempting the contractor from the
customs tax and VAT within the construction period in order to support the
exploration, extraction and processing of traditional and non-traditional oil
sectors. He hopes that the investments and the economic benefits will increase
due to making the oil sector more understandable, competitive and flexible.
The forum is to
run discussions on state policy on oil, the oil law, environment for investors,
present situation and perspectives of the sector, the environmental and local
ties, the latest techniques and technologies, research, infrastructure and work
force.
Mongolia has 30
oil exploration fields, the reserves of only three of them have been
estimated--332.6 million tons of oil, also there are 43.3 million tons is
proven reserve. Moreover, it is supposed that Mongolia has 3.2 trillion cubic
meters of coal-bed methane and 788 billion tons of shale.
First
Deputy Chairman of GPD Appointed
By B. Khuder
Ulaanbaatar,
September 10 (MONTSAME) The Minister of Justice Kh.Temuujin appointed
J.Ganbaatar the first deputy chairman of the General Police Department (GPD) on
Tuesday.
Ganbaatar was a
deputy head of the GPD in charge of support rendering affairs. The same day,
the Minister granted him a title of First Deputy Commissioner.
The former post
of Ganbaatar went to D.Erdenebaatar.
M.Enkhbold
Receives "Maidar–Eco City" Urban-Planning Group
By B.
Amarsaikhan
Ulaanbaatar,
September 10 (MONTSAME) The Vice-speaker of the State Great Khural (parliament)
M.Enkhbold received last Friday Mr Stefan Schmitz, a leader and a key architect
of the urban-planning group of "Maidar–Eco city" project.
The latter
spoke about their project. "The eco-city, symbolized by the 'Ikh Maidar'
god, is planned to be located in the front of the Bogdkhaan mountain, covering
some 110 thousand hectares with 300 thousand people population. The general
planning and infrastructure are being executed by a team of German architects,
who will hand over their job to Mongolian side this November," he said.
The team
members said that efforts and commitments of many are very crucial for
developing the city as planned, and stated that German side is ready to assist
with technology and staff when required. As many other countries do, Mongolia
can also move state administrative organizations from the UB city
to Maidar, "which will help in decentralization", the team
suggested.
To this,
Enkhbold said he support the project, having been elected twice from Tuv aimag.
“The planned capacity of Ulaanbaatar was 680 thousand people, according to
1986’s general plan, however, the population has already reached over 1.2
million. As having worked in the fourth urban-planning group of the capital
city during my time in Mayor’s office, I wish 'Maidar–Eco city' would be of
standards of New-York and Sapporo,” he added.
Mr. Enkhbold,
when working as a deputy minister, initiated the commencement of 25km road near
the area.
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