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Daily NEWSWIRE
June 8, 2018
S P O N S O R 
Government

Prime Minister proposes opening a Mongolian-Russian meat-processing plant

Summary:

On June 7, Prime Minister U. Khurelsukh received a delegation led by Minister of Industry and Trade of the Russian Federation Denis Manturov. During the meeting, Prime Minister U. Khurelsukh noted, “Mongolia is interested in diversifying its exports to Russia. Particularly, we have a plan to increase the export volume of meat and meat products.” He added that a Mongolian-Russian meat-processing plant, in line with Russian standards, could be established. Prime Minister U. Khurelsukh also proposed collaborating with Russia on its Cashmere project. Minister Manturov stated that bilateral trade turnover rose by 37 percent in 2017, an indicator of friendly relations between the two countries. He said that the Russian side is willing to export agricultural machinery and helicopters to Mongolia, assemble airplanes, and establish a leather-processing plant. Minister Manturov expressed interest in participating in the expansion and renovation of Thermal Power Plant III and Ulaanbaatar Railway.​

Keywords: Mongolia-Russia Initiative 2018, agriculture, bilateral relations     Daily News /page 2/


ECONOMY

MSE's equity capital rose

Summary:

The Financial Regulatory Commission announced that the equity capital of the Mongolian Stock Exchange (MSE) grew by 1.2 billion MNT, reaching 23 billion MNT. In 2017, the Ministry of Finance allocated financing for the MSE from the state budget, which resulted in the equity capital increase. Under the state's privatization policy through 2020, Cabinet proposed giving up a portion of the MSE's shares to the London Stock Exchange for loan repayment. The remaining shares of the MSE will be traded through on the Mongolian market and on foreign stock exchanges.

The Financial Regulatory Commission reported that Gerege Management has received a license for offering investment management services, and Host Rock has received a special permit to offer insurance intermediary services. In May, there were changes made to the business registrations of 30 non-banking financial institutions.

Keywords: FRC, Mongolian Stock Exchange   The Official Gazette /page 11/


The number of clients opening securities accounts quadruples in 2018

Summary:

Since the beginning of 2018, a total of 25,864 entities and individuals opened securities accounts at the Mongolian Central Securities Depository, an increase of 19,000 (four times) compared to the same period in 2017. Accounts opened by domestic individuals made up 99.7 percent of the total accounts. According to experts from the Mongolian Central Securities Depository, the intensification of stock trading activities at the Mongolian Stock Exchange has had an impact on the increased opening of securities accounts. In May, 4,395 individuals opened new accounts, a three-fold increase month-over-month. It has been speculated that the number of individuals opening securities accounts will grow further, due in part to the registration of Erdenes Tavantolgoi JSC stock on the MSE. ​    

Keywords: stock marker, economic growth, ETT   Today /page 1/


online story  

Agreement with Russia on railway transit transport finalized

Summary:

On June 8, Minister of Road and Transportation Development J. Bat-Erdene and his Russian counterpart, Minister of Transport Yevgeny Ditrikh, signed an inter-governmental agreement on the conditions of railway transit transport. As a landlocked country, Mongolia has worked on establishing the agreement for nine years, in attempts to gain access to seaports and to increase transit transport crossing through Mongolia. As part of the agreement, Mongolia will be able to get a 66.4 percent tariff discount for coal export transport and a 50.2 percent tariff discount for freight transport for 25 years. Officials hope that the deal will ensure competitive price for mining export products.             

Keywords: transit transport, coal export   www.montsame.mn


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