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AmCham Mongolia Daily Newswire

October 29, 2018

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Government agency for water issues could be established   
A conference was held on October 26th, for the 80th anniversary of the water sector's establishment in Mongolia. Minister of Nature and Tourism N. Tserenbat gave opening remarks, stating, “It has become necessary to set up a government agency responsible for water-related issues, to resolve challenges. Entities using water in their operations will be required to use greywater, and to pay fees proportionate to the water pollution they have caused.” Prime Minister U. Khurelsukh stated that Cabinet will try to prioritize water policies further, and emphasized the Millennium Challenge Corporation’s Second Compact Agreement.          

The Century News /page 2/
FRC reports on cases of unpermitted stock trading  
The Financial Regulatory Commission (FRC) reported that 30.4 percent of grievances filed in the third quarter of 2018 were cases involving stock trading conducted directly through brokers without the stockholder's consent. The operational licenses of nearly 30 percent of these brokers have been revoked by the FRC. The number of grievances concerning unpermitted stock trading dropped to 24, down from 43 filed during the same period in 2017. The FRC says it has taken measures to return the traded stocks to the initial shareholders and to reimburse dividends.

Today /page B1/
TerraCom signs sales contracts with Japanese and Korean customers
TerraCom Limited, which operates the Baruun Noyon Uul coking coal mine, stated that the company has signed initial sales contracts with customers in  Japan and Korea. According to the company’s financial report for the first half of the year, TerraCom sold over 910,000 tons of coal as of June. The company reports that it is now conducting additional exploration at the mine and hopes to bring its sales to 3 million tons per year.      
The Official Gazette /page 11/
BoM: Money supply growth set to promote economic growth  
The Bank of Mongolia reported that the nation's money supply stands at 17.9 trillion MNT, a 21.5 percent year-over-year increase. According to the central bank, money supply growth is at a level sufficient to promote economic growth. It was noted in the central bank's inflation report that a gradual stabilization of the money supply is expected.
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