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Daily NEWSWIRE
May 22, 2018
S P O N S O R S
Government

Speaker M. Enkhbold meets with Polish parliamentary delegates

Summary:

Speaker of Parliament M. Enkhbold received Member of the Sejm (lower house of parliament) of the Republic of Poland  and Polish Head of the Polish-Mongolian parliamentary group Marek Rzasa. Speaker M. Enkhbold stated, “The development of the legal environment is critical to strengthening bilateral relations and cooperation.” He added that the Mongolian-Polish inter-parliamentary commission meeting, which will be held in Warsaw at the end of 2018, will cement ties between the two countries’ legislative bodies and contribute to the development of bilateral trade and economic relations. Marek Rzasa noted, “We will exchange views regarding economic relations, defense, and the education sector.”          

Keywords: Republic of Poland, Parliament   Daily News /page 2/


Mayor of Ulaanbaatar to implement a “Golden Triangle” for development

Summary:

On May 21, a consultative meeting titled “Golden Triangle – Development Zones” was held by Mayor of Ulaanbaatar S. Batbold. The main objective of the meeting was to discuss policy on diffusing high population density in Ulaanbaatar and implementing regional development policies in Tuv, Selenge, Bulgan, Darkhan, and Erdenet provinces. During the meeting, Mayor S. Batbold stated that the population density of Ulaanbaatar is 150 times higher than the national average. Due to this high concentration of residents, air and environmental pollution, traffic congestion, infrastructure strains, and social service delivery issues have emerged. He highlighted that as part of the city's 2016-2020 action plan for development, a "Golden Triangle" policy will be implemented. Governors of the provinces joining the development triangle policy signed a memorandum of understanding on cooperation with Mayor S. Batbold.

Keywords: urban development, population density, rural migration   Daily News /page 2/ 


MINING

Erdenet-Ovoot railroad project receives support from Tuva

Summary:

Australian Stock Exchange listed Aspire Mining Limited has been planning to build a 549 kilometer railroad from Erdenet to the Ovoot coal mine. As reported by ProactiveInvestors.com.au, the Tuva Repulic of the Russian Federation has expressed support for the railroad project. The article identifies the Ovoot mine as the second biggest coking coal mine in Mongolia. When delegates from the Tuva Republic visited Mongolia last week, they signed a memorandum of understanding with Northern Railways, a subsidiary of Aspire Mining Ltd.  According to the Tuva Republic delegates, Russia believes the proposed railroad could help increase bilateral trade turnover. The Erdenet-Ovoot railroad is expected to become part of the proposed Northern Railway Corridor to expand transit transport through Mongolia and Russia.

Keywords: Aspire Mining, exports, Russia   Today /page 1/


online story  

Non-performing loans higher than appropriate levels in Q1'18

Summary:

According to a report from the National Statistical Office, non-performing loans (NPLs) in the banking sector totaled 1.2 trillion MNT as of April. The total represents an increase of 10.8 percent when compared to the same period in 2017, with 47.1 percent of the NPLs associated with the mining, manufacturing, and construction sectors. Bank of Mongolia has stated that the macro-economic situation, market developments, and the judiciary system have impacted the increase in NPLs. Non-performing loans account for up to nine percent of total loans at commercial banks, which is six to seven percent higher than appropriate levels set by the central bank. Bank of Mongolia officials are expected to  develop a strategy to reduce the amount of NPLs and submit it to the Financial Stability Council for review.     

Keywords: banking, consumer debt, Bank of Mongolia
 
  www.bloombergtv.mn


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