Moody's affirms Mongolia's B2 sovereign rating; negative outlook


A Moody's sign on the 7 World Trade Center tower is photographed in New York August 2, 2011.   Behind all too many of market moves in government debt of late has been a report from one of the major credit ratings agencies. Standard & Poor's is the biggest and arguably the most influential, fast followed by Moody's Investor Service and then their smaller rival, Fitch Ratings. In national capitals, they are alternately villified by politicians or held out as just arbiters for denouncing government profligacy.   REUTERS/Mike Segar   (UNITED STATES - Tags: BUSINESS POLITICS)

Moody’s Investors Service has today affirmed Mongolia’s government bond rating at B2. The outlook on the rating remains negative. Concurrently, Moody’s has affirmed the government’s B2 issuer rating, its senior unsecured MTN rating at (P)B2 and the short-term Not Prime issuer rating. The affirmation of the rating signifies Moody’s view that Mongolia’s credit profile will… Read more »

DEC 29TH IS NON-WORKING PUBLIC HOLIDAY


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On December 29th, Mongolia commemorates its Restoration of National Freedom and Independence. Therefore, the Government approved this day as a public holiday every year starting Dec 23, 2011 and legislated to be celebrated as Day of National Freedom and Independence. According to the Law on Celebrating Public Festivals and Memorable Days, Dec 29th is non-working public holiday… Read more »

ZANGANEH: IRAN READY TO EXPORT OIL TO MONGOLIA


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Zanganeh made the remarks in a meeting with visiting Mongolian Foreign Minister Lundeg Purevsuren. In the meeting, the Mongolian foreign minister called for expansion and deepening of relations and cooperation with Iran on oil trade. The Islamic Republic of Iran is ready to set up short-term training courses for Mongolian workforce in oil related industries,… Read more »

MIK HOLDING RAISES MNT 37.3 BILLION ON MSE


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(Dec 24, 2015) Primary market trading of “Mik Holding” JSC 3,106,398 common shares went successful and MNT37,276,776,000 was raised on capital market on 24 December 2015. Pursuant to the order No. 385 of Acting CEO of MSE, “Mik Holding” JSC is listed on I classification of MSE listing board which means “Mik Holding” JSC became… Read more »

MINISTER R.JIGJID: "LICENSE GRANTED TO GUTAIN DAVAA IS LEGAL"


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(Dec 23, 2015) Minister of Mining R.Jigjid called December 23 a press conference to make clarifications, in regard to the political sit-in strike by “Delkhiin Mongol Green Union” NGO protesting the issuance of mining license at Khentii aimag’s Batshireet and Binder soums. The strike has been on for three days. The mining exploitation permit was… Read more »

INVESTMENT AGREEMENT ON MONCEMENT PLANT APPROVED


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(Dec 22, 2015) On December 21, the cabinet approved a draft of Investment Agreement on Moncement plant project, and permitted Minister of Industry D.Erdenebat to sign the agreement on behalf of the Government. The project on building a high-tech lime and clinker plant, based on the limestone deposit of Senjit Khudag of Orgon soum, Dornogovi… Read more »

OYU-TOLGOI HAS GENERATED USD 1.3 BILLION FOR THE STATE BUDGET


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(Dec 21, 2015) During “Ministers’ Hour” program, Mining Minister R.Jigjid along with the CEO of “Erdenes Mongol”, B.Byambasaikhan, and the CEO of the “Erdenes Oyu-Tolgoi” company Da.Ganbold answered some questions from the media. -The investment contract of Oyu-Tolgoi underground mining has been signed. Will the dollar rate be reduced, as a result of investment? R.Jigjid:… Read more »

SOUTH KOREAN PM SIGNED THE DOCUMENTS


(Dec 17, 2015) South Korean PM Mr.Hwang Kyo-ahn is paying an official visit in Mongolia at the invitation of PM Ch.Saihanbileg during Dec 15-17. Following the tete-a-tete meeting and official talks between the two MPs, PM Mr.Hwang Kyo-ahn attended signing ceremony of following documents. Letter of Exchange for the extension of validity of the “Framework Arrangement between the… Read more »

NATIONAL BANK OF CANADA BUYS STAKE IN MONGOLIAN BANK


(Dec 16, 2015) National Bank of Canada has paid $15 million for a 10.5 percent stake in the holding company that controls XacBank LLC, one of Mongolia’s top four banks. The purchase of a stake in XacBank parent, micro-lender TenGer Financial Group, was completed last week, Marie-Pierre Jodoin, head of public affairs and investor relations… Read more »


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