Wednesday, September 24, 2014

Mongolia Brief September 19, 2014 Part IV

Government Resolves to Increase Reserve Volume for Imported Oil Products
September 19 ( At the Cabinet meeting held on September 18, 2014, it was ratified to renew reserve volume for imported oil products due to increased demand.

Minister of Mining D.Gankhuyag is obliged to organize preparation works for oil products reserve for the next year before March 01, 2015, in particular, to increase the reserve volume up to 88,900 tons, which is equal to 30 days of consumption.
As of today, the fuel reserve is estimated at 80,480 tons for 30 days and has been provided in the past two years. According to contracts established between the Government and importer companies, 13 entities have been obliged to provide oil products reserve for A-80 - 7,770 tons, AI-92 - 21,820 tons, Diesel - 46,730 tons and TC-1 - 4,360 tons for 30 days reservations respectively.
Moreover, despite of increasing the fuel reserve up to 90 thousand tons, the reservoir for oil products is also needed to enlarge.
Therefore, authorities said that 9 containers with capacity of 5,000 cubic meters are being installed at the most convenient locations along the railroad in Ulaanbaatar, Darkhan, Govisumber and Zamyn-Uud.
Petroleum reserves re-estimatedMontsame, September 19

Reps of Foreign Ministry visit Google
By B. Amarsaikhan
Ulaanbaatar, September 19 (MONTSAME) Ambassador-at-large S.Badral and an advisor to the FM O.Mashbat met with the chairman for foreign relations of Google Inc. Ross LaJeunesse on September 18 in Washington D.C. 
During the meeting, Mr LaJeunesse said Google Inc. supports initiatives of Mongolian Government, and noted that Mongolia has become a role-model of democracy in its region. He also noted that Mongolia is leading the Online Freedom Coalition, and expressed a willingness of Google to take an active part in the Ministerial meeting of the coalition which will run Ulaanbaatar.  

Cabinet meeting in brief
By B. Khuder
Ulaanbaatar, September 19 (MONTSAME) The cabinet meeting on Thursday approved a programme on expanding the laboratory examination over a quality of construction materials.
Obligations were given to the Minister of Construction and Urban Development, the Mayor and to governors of provinces to approve action plans on implementing the programme and to present to the cabinet its course every second quarter.
- Orders were given to Ch.Ulaan, the Minister of Finance, and to M.Sonompil, the Minister of Energy, to calculate the financial subsidy to be given to some energy companies and factories in recovering energy deficit, and to reflect this matter in the 2015 budget law.
- The cabinet discussed the #8 and #9 governmental reports on implementation of the UN Convention on eliminating all forms of discrimination against women, and decided to submit them to the UN Convention’s committee.  

President to take part in session of UN GA
By B. Khuder
Ulaanbaatar, September 19 (MONTSAME) The President Ts.Elbegdorj will head for the USA on Saturday to participate in the 69th session of the UN General Assembly which kicked off September 16 in the UN Headquarters, New York City. 
In frames of the session, the President will attend several international meetings and events such as the Climate Summit, the 29th session on Population and Development, the World Conference on Indigenous Peoples, and will hold bilateral meetings with his counterparts and chairs of international organizations.  

National programme on waste management launches
By B. Amarsaikhan
Ulaanbaatar, September 19 (MONTSAME) The Government approved a national programme on waste management on September 18. The programme aims to reduce a burial waste through reducing import of services and goods and their consumption, recycling and using the waste as an energy-productive source.
Amount of waste has tripled within the last four years, reaching 2.4 million tonnes in 2013, while a customary disposal of wastes–burial still remains as the only approach. The programme includes   involvement, management and structures of operations of state agencies, governors, private sector, research and civil societies, in prominent details. Operations of refuse sites that meet health standards will be systemized, some 20 percent of waste will be recycled and be used for production of value-added goods.  

Draft law on transparency in minerals sphere to be presented to parliament
By B. Amarsaikhan
Ulaanbaatar, September 19 (MONTSAME) The Government on September 18 decided to submit draft law on transparency in minerals sector to State Great Khural. A ratification of it will result in long-term social and economic benefits.
Provision of transparency in Mongolia’s Minerals Sector is considered to be a great contribution to the following achievements such as establishment of a global-standard management of collaborative monitoring; legal basis for demolishing the corruption and dead expenses in the sector; development of partnership between public and private sectors and civil societies; public access to the operations and relations of exploiting companies, states agencies and public organizations; increase in the state and local budgets through taxes by eliminating the inefficient expenses of the mining companies; consolidation of better governance through transparency in expenditure of taxes paid by minerals sector to the Government.

FM meets DPRK Workers’ Party reps
By B. Amarsaikhan
Ulaanbaatar, September 19 (MONTSAME) Minister of Foreign Affairs L.Bold held a meeting with member of the Politburo of the Workers’ Party of the People’s Democratic Republic of Korea and Secretary and Director of the Korean Workers' Party International Affairs Department, Mr Kang Sok Ju.
He is paying an official visit to Mongolia upon the invitation of Democratic Party Secretary-General Ts.Oyundari. During the sty, Mr Kang Sok Ju met with Secretaries General of the ruling Democratic Party and the opposition Mongolian People’s Party and paid courtesy calls on President of Mongolia Ts.Elbegdorj and PM N.Altankhuyag.  

P.Tsagaan receives representative of WEF
By N. Khaliun
Ulaanbaatar, September 19 (MONTSAME) The head of the Presidential Office P.Tsagaan Friday received Ms Gillian Davidson, a Director and Head of Mining and Metals Industry, World Economic Forum. 
The sides noted an effective cooperation between Mongolia and WEF and exchanged views on seeking ways of expanding the ties. After this, they discussed the issues of The World Economic Forum Annual Meeting held in Davos, Switzerland, the 10th World Islamic Economic Forum (WIEF) to run in Dubai on October 28-30, the Mongolia Business Summit to take place in Ulaanbaatar on June of 2015.

Stock exchange news for September 19
By B. Khuder
Ulaanbaatar, September 19 (MONTSAME) At the Stock Exchange trades on Friday, a total of 47 thousand and 623 shares of 19 JSCs were traded costing MNT 28 million 312 thousand and 864.00.
"Hermes center” /27 thousand and 640 units/, “Remikon” /11 thousand and 163 units/, “Sor” /4,355/, “Tavantolgoi” /1,102 units/ and "Uvs chatsargana” /1,000 units/ were the most actively traded in terms of trading volume, in terms of trading value were "Sor” (MNT 10 million 666 thousand and 280), "Tavantolgoi” (MNT five million 726 thousand and 300), “Hermes center” (MNT four million 369 thousand and 892), "Uvs chatsargana” (MNT two million and 550 thousand) and "Remikon” (MNT one million 471 thousand and 525).
The total market capitalization was set at MNT one trillion 600 billion 643 million 394 thousand and 779. The Index of Top-20 JSCs was 15,953.84, decreasing 162.39 units or 1.01% against the previous day.
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