Mongolia Business Blog

Curry For A Cause

mergen — Thu, 04 Mar 2010 11:53:56 +0000

be there or be square!

Taste the Savory Indian curry at its Best. Your participation will enable a needy Mongolian family live in a house called home. A worthy cause.

A Buffet Charity Dinner will be organized on the 13th of March, 2010 at the Taj Mahal Restaurant at 6.00 – 10.00 p.m. located on 6th floor of the Ulaabaatar Hotel. Entrance fee 21,000 MNT per person

Curry for a Cause Event Program:

Welcome Habitat for Humanities (HFH) Mongolia Blue Sky Build Presentation
Dinner and then after dinner some fun Games
Auction – Items, A saree from India, Another dress called Salwar
Kameez, some Indian Handicrafts, Famous Mongolian artists paintings
Music and Dance

Come and join Hands to lend a Helping Hand . All proceeds to be given to Habitat for Humanity Mongolia.

About The Blue Sky Build

Building 30 houses for 30 Mongolian families with low incomes. A sign up paper will be available for people to sign up as volunteers during the actual days of the Blue Sky Build 28th June – 2nd of July, 2010.

For reservation of a seat, please phone into Tajmahal restaurant – 98110562 OR the Habitat for Humanity Director Charles Jolliffe -99041137

2009 Highlights, Coping with Winter Weather, & Money to Citizens

mergen — Wed, 13 Jan 2010 10:15:26 +0000

Mongolia Business Podcast Summary: Mongolia’s 2009 business news highlights; Coping with winter weather in Mongolia; Parliament approves 324 billion tugrugs in handouts to citizens

Mongolians playing a traditional Mongolian ice game called "musun shagai", which literrally means "ice ankle bone".

Mongolia Business Podcast Highlights: Parliament recently approved to allocate 324 billion tugrugs, roughly 220 million USD, which essentially gives money away to Mongolian citizens. Human Development Fund distribute 120,000 tugrugs for each citizen, 70,000 before Tsagaan Sar, or Mongolian New Year, and 50,000 tugrugs after the Tsagaan Sar…

SouthGobi Energy Resources may spend up to $800 million USD to improve operations and better supply customers in China…

Some big events in 2009 were headed by the signing of Oyu Tolgoi (OT) agreement on October 6, 2009, a very good auspicious day. There was a collapse of two major banks and a merger of two other banks. In March 2009, Mongolian tugrug fluctuated from 1100 tugrugs to up to 1700 tugrugs before heading back down to 1500 tugrugs. Prime Minister Bayar resigned…

Weather in Mongolia is currently -30 to -40 degrees Celsius (-40 degrees Celsius is -40 degrees Fahrenheit).

How do we cope with it?

Stay inside.
Dress with too many layers or wear fur
Eat Mongolian diet
…

Why Mongolians crank up the heat to about 25 degrees (85 Fahrenheit) inside? It’s freezing outside, but people are wearing shorts inside…. Black stuff on roads is the ice. Another tip to stay warm? Turn into a ninja. Only show your eyes and cover everything, wear layers of clothing, eat mutton, and don’t go out too much…

Click here to listen to entire podcast episode: Mongolia Business podcast by Mongolia Business Blog (MBB)

“Mongolian Law and Legal Environment” with James Liotta of Lehman Lee & Xu

admin — Mon, 21 Dec 2009 01:17:28 +0000

Overview: Mongolia has a developing judicial system, sometimes even described as “rotten to the core”. People need to do due diligence before coming to Mongolia to do business. Following the law to your best ability from the beginning will help prevent issues later.

For business news, the state budget containing 76 Billion tugrugs or 1 billion tugrug per each MP, has been passed, even after a veto by the President of Mongolia. Millennium Challenge Account is investing more than hundred million USD for clean air and road infrastructure projects. Boroo Gold mining company has agreed to donate 1 million USD for new national park being developed in Ulaanbaatar.

For “Mongolia Business” podcast update, we received some recommendations from one of our listeners. We also received a five star review on iTunes.

Podcast can be downloaded from iTunes or from our website. For directions, visit: Mongolia Business podcast

This week’s podcast talk show was recorded on December 18, 2009 and published on December 20, 2009. Below are highlights, not a verbatim transcript, of the recording.

Mongolia Business Blog PODCAST update

We received a suggestion for improvement from one of our listeners. Bachi Nyangar mentioned that we should have a starting and ending music and maybe a female co-host. He also suggested that we start covering mining stock prices and getting sponsorships for the show.
We also received our first five-star review on iTunes. Mendorshikh, young Mongolian studying computers in the US, is a big fan of our show and mentioned that our podcast is THE FIRST EVER Mongolian podcast in the world.

Some business & mining news from last week:

There was a big news event over the past week with the 76 billion tugrugs in the state budget. This 76 billion was to be 1 billion per each parliamentary member to spend on their own districts. This portion of the state budget received quite a lot criticism as being a “pork barrel” spending. Media outlets pointed out that the spending of 1 billion by each MP is going to lack transparency and that the funding would have been much better spent on larger national issues such as healthcare, education, and infrastructure. Mongolian President Elbegdorj used his veto powers to veto this bill. Some MP’s joined in on the call and refused to support the bill. However, in the end, it was approved with 40+ MP’s voting for their rights to receive 1 billion each.
Boroo Gold mining company agreed to invest $1,000,000 for the new National Park Project for Ulaanbaatar. The public and media have been questioning the 76 billion tugrugs that was approved as part of state budget and why we Mongolians cannot ourselves spend the money on important matters such as healthcare and education.
Millennium Challenge Account is going to invest in two new projects: Clean Air Project ($127 million) and Road Project (road between Choir & Sainshand City and road to Nalaikh due in about three years). MCC is chaired by US Secretary Hillary Clinton.
Ivanhoe Mines announced it will spend $786 million this year on ramp-up for mining the Oyu Tolgoi mine site
H1N1 curfew ended few weeks ago. Minister of Health announced it doesn’t know what to do with all of the Swine Flu vaccines. They arrived late, but now that they are here… nobody wants them now. Just a few weeks ago, people could not walk into buildings without a mask
Because of the H1N1, there will be no state funded New Year’s party. Maybe we can get the MP’s to pitch in from the
Lots of foreign aid to Mongolia, but what is Mongolia itself doing? Maybe we need to be more responsible and take matters into our own hands?

“Mongolian Law and Legal Environment”

Interview with guest speaker James Liotta, Managing Director of Lehman, Lee, & Xu. Below is an abridged highlight of what was discussed. It is not verbatim.

MONGOLIA BUSINESS BLOG: Can you briefly describe Lehman Lee & Xu and what it does?

JAMES LIOTTA: Lehman Lee & Xu is a Mongolian firm with networks throughout Asia and has been in Mongolia for about seven years. Company focuses mainly on mining and private sector, but it also works with NGO’s and governmental organizations as well. Over the past seven years, there has been a growing need for development of rule of law.

MONGOLIA BUSINESS BLOG: Can you describe the legal environment of Mongolia for people looking to do business & invest in Mongolia?

JAMES LIOTTA: #1 thing I recommend to anyone is to do “due diligence”. There are a lot of cowboys that come here and think they can do anything they want. There is a lot of law out there, and when implanted, it can cause some headaches if you are ill prepared. It is a civil law system. There is more help to develop the Mongolian legal system. There is regression in rule of law in Mongolia. There was a recently published review which called the Mongolian judicial system as “Rotten to the Core”.

MONGOLIA BUSINESS BLOG: What are the major challenges for your clients?

JAMES LIOTTA: We have a diverse group of clients. The biggest problem is that they can’t count on the judiciary here. The courts do not appear to be separated from politics entirely. The courts do not seem to be using or importing sophisticated concepts of law. For instance, if there is a complex commercial matter, the judge who has opened the case is not going to be equipped to properly handle the case. The problem is not that always it is the case of corruption, but clients need to understand that they are entering into a developing judicial system. And, their best defense is to comply with the law as best as possible…

MONGOLIA BUSINESS BLOG: So what happens that when clients do end up in courts?

JAMES LIOTTA: I think it is pretty obvious that courts do have preference to Mongolian companies and individuals… I think I should divide it up here. There are those who are “cowboys” who have not made any efforts to comply with the law. They often do get slapped with fines, and they probably should be fined. The clients I feel sorry for are ones that do everything they should and still get fined. There is sometimes a notion that “foreign entities have the money; why not fine them?” What we recommend to our clients is to try and take the arbitration outside of Mongolia…
…

To get the full interview, you will need to either listen or download the podcast. Please visit our podcast page: Mongolia Business podcast

Democracy, Railroad, & Jim Dwyer of Business Council of Mongolia

mergen — Sat, 12 Dec 2009 13:05:44 +0000

MONGOLIA BUSINESS PODCAST #4 HIGHLIGHTS

20th anniversary of Mongolian democracy, railroad, & BCM Executive Director Jim Dwyer

December 11, 2009: December 10th is a very important day in Mongolian history. On this date, Mongolians gathered at the square and peacefully protested for democracy of Mongolia. It was one of the most peaceful yet successful demonstrations in history… (Download the podcast here: Mongolia Business podcast)

There is a dispute over the railroad between the private sector and Mr. Battulga, the Minister of Road and Transportation. Additionally, there is a need for a railroad in South Gobi. Current transportation methods do not meet the needs to transport the mining resources. Leighton LLC has just been contracted to build the railroad, separately from the mining contract…
Jim Dwyer, Executive Director of Business Council of Mongolia (BCM), has been in Mongolia for a total of 8 years. The membership of BCM has far outpaced expectations. Membership is now over 140. The needs of the business community, both foreign and Mongolian, are the same. BCM represents business community as a whole. Half of the 14 member board are represented by Mongolian companies…

Nuclear Energy and Uranium in Mongolia

mergen — Fri, 11 Dec 2009 05:46:31 +0000

Mr. Eric de SEZE, General Director & CEO of Areva Mongolia, “Nuclear Energy and Uranium” “PART TWO of BCM Meeting Highlights”

On Monday, December 7, 2009, Business Council of Mongolia (BCM) held its last meeting of the year. Guest speakers Mr. B. Enhuyag, First Deputy Governor of Bank of Mongolia and Mr. Eric de SEZE, General Director & CEO of Areva Mongolia discussed “Views on Current Macro-Economics and Mongolia’s Banking Sector” and “Nuclear Energy and Uranium”, respectively.

Rather than spit out their presentations verbatim, I will highlight points that I found interesting.

Please note these highlights are written NOT written verbatim; they are written in my own words and, in some cases, there may be quite big errors. Personally, I did not even anticipate that I might post some highlights online for view of the public at large. Please bear with me.

Mr. Eric de SEZE, General Director & CEO of Areva Mongolia, “Nuclear Energy and Uranium”

97-98% of enriched uranium can be recycled.
Uranium is typically found at 1-2.5% and enriched is considered at 3%.
Everything has radiation, including the water we drink. The question is the level or radiation. Radiation experienced by an average person is 2.4 mSv (per year?) while a radiation experienced by a person living at 1,500m altitude is 3.6 mSv
On Uranium pricing, the media tends to focus on the volatile spot price of Uranium, but the industry insiders and traders focus on contract pricing. Example pricing showed spot pricing at $42.50/lb and contract pricing at $65/lb.
Dornod & Dulaan Uul uranium reserve could propel Mongolia to #4 in the world (in term s of uranium mining?).
Rio Tinto mines 18% of Uranium in the world
Mongolia’s “almost neighbor“ Kazakhstan could become world’s #1 uranium mining country in either 2009 or 2010
There are three basic mining methods: rock 65%, sand 25%, by product 10%
Although Mongolia has two or three large uranium mining deposits, the methods needed will be at least two completely different methods. The mining north will be the more standard “rock” mining, whereas the deposits in Gobi or to the South, will require “sand” mining techniques, which is completely different in exploration and mining methods from the former.
World reserve for uranium mining is 4.5M tU, which is enough to use for 70 years. However, this number stays roughly the same year after year because more are found as more are used.
Mongolia is officially #14 in determined uranium reserve, which is basically the same as India, a country which has been doing uranium mining and using nuclear energy for decades now
Mongolia’s reserve is roughly twice that of China and 1/3 that of Russia
Uranium is two times heavier than lead. 1 Cubic Liter of Uranium will weigh 19+ times more than water… almost 20 kilos per cubic liter!

Current Macro-Economics and Mongolia’s Banking Sector

mergen — Fri, 11 Dec 2009 05:43:38 +0000

Mr. B. Enhhuyag, First Deputy Governor of Bank of Mongolia, “Views on Current Macro-Economics and Mongolia’s Banking Sector” “PART ONE of BCM Meeting Highlights”

On Monday, December 7, 2009, Business Council of Mongolia (BCM) held its last meeting of the year. Guest speakers Mr. B. Enhhuyag, First Deputy Governor of Bank of Mongolia and Mr. Eric De SEZE, General Director & CEO of Areva Mongolia discussed “Views on Current Macro-Economics and Mongolia’s Banking Sector” and “Nuclear Energy and Uranium”, respectively.

Rather than spit out their presentations verbatim, I will highlight points that I found interesting.

Mr. B. Enhhuyag, First Deputy Governor of Bank of Mongolia, “Views on Current Macro-Economics and Mongolia’s Banking Sector”

Inflation in 2008, 2009 YTD, 2009 Estim, and 2010 Estim are as follows: 34%, 2%, 3.5%, and 6%
Looking into questionable Mongol Gazar loans by Banks
Savings Bank and Post Bank merger evaluation pending (this was originally proposed as a three-way bank merger along with Zoos Bank)
Economic crisis revealed deficiencies in banking: over lending, fraudulent activities, and obscure ownership
Golomt Bank and Trade and Development Bank of Mongolia are in compliance with Central Bank regulations. Khan Bank is currently under evaluation, but so far its portfolio is looking OK.
These three large banks account for 70-75% of deposits and/or lending activities in Mongolia
There are, in total, 16 banks in Mongolia. This is far too many. We need fewer but stronger banks. As such, we hope this trend of consolidation in the banking industry will continue.
2010 budget spending as per Ministry of Finance is looking to remain high, especially in the first half of the year. As such, Central Bank of Mongolia may need to tighten its monetary policy.
When alluding to reasons for some of the banking/lending woes, Mr. Enhhuyag mentioned Goldman Sachs for its lending of 187 billion tugrugs (roughly 128 million USD) into the Mongolian economy/banking/mining (? Sorry, this was not quite real clear, but the focus was on the amount of money loaned by Goldman).
When addressing questions for expected GDP for 2009, Mr. Enhhuyag mentioned that essentially Mongolian economy is a 6 billion tugrug (meant USD, I believe) economy.

December 2009: Cultural Events of the Month

admin — Tue, 08 Dec 2009 07:46:40 +0000

A friend of mine emailed me this. The source was “The Arts Council of Mongolia“.

Enjoy!

DECEMBER CULTURAL EVENT CALENDAR

Happy New Year!

FEATURES OF THE MONTH

BEST ARTWORKS OF THE YEAR

Modern Art Gallery

Dec 4 – Dec 30

The Modern Art Gallery of Mongolia is hosting its annual ‘Best Artworks of the Year’ competitive exhibition from December 4 until December 30. There are 120 artworks in the exhibition, and they will be judged over two weeks. A select few will then be brought into the gallery’s collection at the conclusion of the exhibition.

For more information please call 327177 or 331687

THE AMERICAN CENTER FOR MONGOLIAN STUDIES

2009 ACMS Speaker Series

Independent Students Study Project Presentation, World Learning / SIT Study Abroad Program DECEMBER 2^ND, 2009, 10AM ROOM 304, BUILDING NO.5, NUM
Khamnigan: Documenting and Describing the Endangered Language of the Northern Mongolic People Speaker: Andrew Shimunek, Fulbright Fellow, Indiana University, Bloomington DECEMBER 3^RD, 2009, 5PM ROOM 305, BUILDING NO.5 NUM
Chasing the Singers: The Transition of Mongolian Long-Song (Urtiin-Duu) in Post-Socialist Mongolia Speaker: Sunmin Yoon, Ph.D. University of Maryland DECEMBER 10^TH, 2009, 5PM ROOM 305, BUILDING NO.5 NUM
Transition and New Public Management in Mongolia: A Comparative Perspective Speaker: David K.Hausman, Research Specialist, Princeton DECEMBER 17^TH, 2009, 5PM ROOM 305, BUILDING NO.5 NUM

For more information, please call 350 – 486

OPERA AND BALLET THEATRE

(Tel: 99054570, 98200443, 70110389)

1st 5 PM ‘Carmen’ opera
7th 5 PM ‘Swan Lake’ ballet
14th 5 PM ‘Three Dramatic Characters’ opera
15th 5 PM ‘Skilled Khas’ opera
21st 5 PM ‘Rigoletto’ opera
22th 5 PM ‘Nutcracker’ ballet
28th 5 PM ‘Die Fledermaus’ operetta
29th 5 PM ‘Nutcracker’ ballet

STATE ACADEMIC DRAMA THEATRE

(Tel: 324621, 99199794, 88087088)

Special performance

4-8^th 7 PM ‘The Hunchback of Notre Dame’ play
9-13^th 7 PM Opening of ‘Yellow Sea Anguish’ play
16^th 2 PM ‘Golden generation-2009’ conference
17^th 5 PM ‘We Won’t Forget’ performance
18^th 2 PM Performance by Jigjid
18^th-20^th 7 PM ‘The Hunchback of Notre Dame’ play

NATIONAL FOLK SONG AND DANCE ENSEMBLE

(Tel: 323954, 99283116, 88083116)
Web address: www.mon-ensemble.mn

14-15^th 7 PM ‘Mongolian Melody’ performance

CENTRAL CULTURAL PALACE

(Tel: 321444, 328833, 323954)

Please call for a detailed schedule

STATE PHILHARMONIC HALL

(Tel: 70118012)

Please call for a detailed schedule

L’ ALLIANCE FRANCAISE de MONGOLIE

(Tel: 351914)

Located on the south side of the International Student Dormitory of the National University of Mongolia

Please call for a detailed schedule.

German Information Library

(Tel/Fax: 976-70118333) located in Cultural Palace Complex

E-mail: deutsche_infobib@yahoo.de

Mon-Fri: 9.00 am – 5.00 pm

Sat: 12:00 am – 5.00 pm

Information and resources on German language, culture, literature, history, geography, art, science, economics and legal studies are available.

TENGIS MOVIE THEATER

(Tel: 313105, 312719, 91913307)
Web address: www.tengis.mn
Tickets: adults 4000₮, children 3000₮
On Tuesday and Wednesday tickets: 2500₮
New movie opening day tickets: 2000₮

Record Of Love (Mongolian)
Take Off (Korean)
Final Destination-4 (American)

Please call or visit for a detailed schedule.

TUMEN EKH NATIONAL SONG AND DANCE ENSEMBLE

(Tel: 322238, 96664374, 96650711) Located in the Children’s Park, near the Seoul restaurant

Performance with booking

MOON STONE FOLK SONG AND DANCE ENSEMBLE

(Tel: 99186171 and 99288399)

Tickets: Foreign adults $7, Mongolian adults 5000₮, Children 3000₮

Performance with booking

TORGO FASHION SALON

(Tel: 324957, 919190508, 99122448) located in the D block of Golomt complex, West main road

Tickets: adults $7, children 3000 ₮

Fashion show with booking

ART GALLERY OF THE UNION OF MONGOLIAN ARTISTS (Tel: 327474)

Web address: www.uma.mn

Everyday

10 am – 6 pm

Entrance is free

4-11^th Exhibition ‘Earth color’ by artist Ts. Erdenetsogt
12-19^th Solo exhibition by artist D. Enkhtaivan
20-27^th Joint exhibition by artists G. Nurmaajav and M. Bayarmagnai
29-10 Jan Exhibition ‘New Art – 2009’

MODERN ART GALLERY

(Tel: 327177, 331687)

Everyday 9am- 5pm

Tickets: adults 2000₮, children 400₮, students 1000₮

4-30^thBest Artworks of The Year
4-14^th Exhibition celebrating the 80^th anniversary of transport and infrastructure
9-15^th Exhibition of traditional Mongolian art style ‘Uulen Durs Buyu Uran Ukhaaral’
17-18^th Photo exhibition ‘Let’s Embrace Our Culture and Send Letters For Tomorrow’
19-23^rd Photo exhibition by Mongolia-Germany NGO ‘Bridge’

ZANABAZAR FINE ART MUSEUM

(Tel: 326061, 326060, 326837)

Web site: www.mongolianationalmuseum.mn

More information on Zanabazar himself is available at www.zanabazar.mn.

Monday – Friday: 10 am – 5pm

Tickets: adults 2500₮, children 200₮, student 400₮

7-11^th Joint exhibition by young artists M.Davaa, M.Gan-Ochir and L.Munguntsetseg
12-18^th Photo exhibition by Mongolia-Germany ‘Bridge” NGO

RED GER ART GALLERY

(Tel: 319015, 99235422) located in Zanabazar Museum of Fine Art

Web address: www.artscouncil.mn

Operated by the Arts Council of Mongolia, supporting Mongolia’s finest young artists.

Monday – Friday: 10am – 5pm

Entrance free

BLUE SUN CONTEMPORARY ART GALLERY

(Tel: 99860122, 95259374) located in the building # 23 opposite to the Ulaanbaatar Bank

Web address: www.bluesun.mn

Everyday 10am- 5pm

Entrance free

KHAN BANK ART GALLERY

(Tel:332333, /3264/ ) located in Khan Bank new building, Seoul street

Mon-Fri 9am – 6pm

Entrance free

E-mail address: artgallery@khanbank.com

13-9^th Dec ‘Memory of Art’ Exhibition for J.Bold (1958-1997)

PEARL ART GALLERY

(Tel:326793, 99138281) Located in the 220 myangat #25-31

Everyday 11am – 7pm

Entrance free

Closed Sunday

5+… STUDIO GALLERY

(Tel: 88812615; 88890124) located in Union of Mongolian Artists Studio B, 2^nd floor, room 210, Erkhuu Street, Sukhbaatar District (west side of the US Embassy, on big ring road)

Website: www.arts5plus.com

Everyday 11am – 5pm

Entrance free

XANADU ART GALLERY

(Tel: 310239, 99110873) Juulchin Street, north of the State Department Store, beside the Tedy Center

Website: www.xanaduartgallery.org

Monday-Friday: 10 am – 7 pm
Saturday: 11 am – 7 pm
Closed Sunday

Entrance free

18 Nov-20^th Dec Solo exhibition by B.Badral
20-11 Jan Solo exhibition by B.Orkhontuul

INFORMATION TECHNOLOGY SHOWROOM

(Tel: 318070) located in the National Information Technology Park

Web address: www.itpark.mn

Science and Education Exhibition Hall

Monday to Friday 10am–2pm and 3pm–5:30pm

Tickets: adults 1000₮, children 500₮

BOGD KHAAN PALACE MUSEUM

(Tel: 342195)

Everyday 9.30am – 4.30pm

Tickets: adults 1000₮, children 300₮, tourists 2500₮

(Closed on Wednesday, Thursday)

CHOIJIN LAMA MONASTERY MUSEUM

(Tel: 328547)

Everyday 10am- 4pm

Tickets: adults 2500₮, children 500₮, students 1000₮

(Closed on Monday, Tuesday)

NATIONAL MUSEUM OF MONGOLIA

(Tel: 70110911; 70110912)

Website: www.nationalmuseum.mn

Everyday 10 am – 4:30 pm

Tickets: adults 2500₮, children 600₮, students/ seniors 1200₮, family ticket 3000₮

(Closed on Sunday, Monday)

NATURAL HISTORY MUSEUM OF MONGOLIA

(Tel: 70110183)

Everyday 10am – 4:30pm

Tickets: adults 2500₮, students 1000₮, children 300₮, children under school age free

(Closed on Monday, Tuesday)

MONGOL COSTUME MUSEUM

(Tel: 328140, 328840, 91910917)

Everyday 9am – 6pm

Tickets: Tourists 2000₮, adults 1500₮

(Please call in advance to visit 328140, 328840)

Fashion shows with bookings

CALLIGRAPHY MUSEUM

(Tel: 315388)

Web address: www.inkway.mn

Everyday 10am – 6pm

Entrance is free

A&D MUSEUM OF ART

(Tel: 99115997; 317837)

Web address: www.mongolianantique.com

Everyday 9am – 6pm

Tickets: Tourists 2000₮, adults 2000₮, students 1000

(Closed on Sunday)

Please call in advance to visit

BADAMKHAND MUSEUM OF ART

(Tel: 99050832)

Weekdays 10am – 6pm

Khan-uul district Zaisan Dreamland hothon 3-1

(Closed on weekends)

THEATRE MUSEUM

(Tel: 311320)

Everyday 9am – 5pm

(Closed on weekends and opened with bookings in advance)

Tickets: adults 1500₮, Primary and high school children 200₮, University students 300₮, tourists 1,000₮

INTERNATIONAL INTELLECTUAL MUSEUM

(Tel: 461470)

Everyday 10am-6pm

(Closed on Sunday and open with bookings)

Tickets: adults 2000₮, primary and high school children 1000₮, young children 500₮, tourists 3000₮

POSTAGE and STAMP MUSEUM

(Tel: 362972)

Web address: www.stamp.mn

Everyday 9am-6pm

Entrance is free

MONGOL MILITARY MUSEUM

(Tel: 261782, 261863, 261959)

Everyday 10am-5pm

Tickets: adults 1000₮, school children 300₮, tourists 2000₮

MEMORIAL MUSEUM FOR VICTIMS OF POLITICAL PERSECUTION

(Tel: 70110915)

Mon-Fri 9am-5pm

Tickets: adults 500₮, school children 200₮, University students 300₮, tourists 2500₮

MUSEUM OF ULAANBAATAR CITY HISTORY AND REFORMATION

(Tel: 450960)

Everyday 9am-6pm

Tickets: adults 1000₮, school children 300₮, University students 500₮, tourists 1500₮

MUSEUM OF MONGOLIAN TRADITIONAL MEDICINE

(Tel: 342650, 99244135)

Everyday 10am – 4.30pm

(Closed on Wednesdays)

Tickets: adults 1500₮, children 500₮, tourists 2500₮

RAILROAD HISTORY MUSEUM OF ULAANBAATAR

(Tel: 244493) located Bayangol district, Zamchnii street 1.

Everyday 9am – 5pm

Tickets: adults 1000₮, children and University students 500₮, tourists $2

CULTURAL HERITAGE MUSEUM OF CHINGGIS KHAAN

(Tel: 99188143) located Khan-Uul district, Yarmag, street 18, # 433, behind the 41^st school, near the Khan Bank branch)

Open Everyday 10am – 6pm

Tickets: adults 1000₮, children 300₮, tourists 2000₮

DETROIT AMERICAN BAR

(Tel: 320033)

Everyday 9:30 pm Live performance by Yuppo
Friday 9:30 pm Live performance

RIVER SOUNDS

(Tel: 320497, 99293232, 99145757)

Mon-Wed 10.30 pm Live performance by A-Sound
Thru-Sat 10.30 pm Live performance by Black and White

GRAND KHAAN IRISH PUB

(Tel: 336666)

Monday 9:00 pm Live performance by The Lemons
Tuesday 9:00 pm Live performance by Fire band
Wednesday 9:00 pm Live performance by Starfish band
Thursday 9:00 pm Live performance by L-Guards
Friday 9:00 pm Live performance by Beer band
Saturday 9:00 pm Live performance by singers

STRINGS

(Tel: 70150915, 91995504)

Wednesday, Friday 9:00 pm Live performance by Moon River
Thursday, Saturday 9:00 pm Live performance by Pause Jazz Band

STRINGS

(Tel: 367845, 91995504)

Everyday 9:00 pm Live performance
Sunday 9:00 pm Live performance by a Mongolian band

IKH MONGOL

(Tel: 331206)

Monday 9:30 pm Live performance by L – Guards
Tuesday 9:30 pm Live performance by The Lemons
Wednesday 9:30 pm Live performance by Fire
Thursday 9:30 pm Live performance by Altan Urag
Friday 9:30 pm Live performance by Fire
Saturday 9:30 pm Live performance by X-Vit
Sunday 9:30 pm Live performance by Altan Urag

ARTE RESTAURANT

(Tel: 70111585)

Tuesday -Friday 8:30 pm Live performance

M-CLUB

(Tel: 319866)

www.m-club.mn

M-Cinema, M-Playstation 3, M-lounge, M-Bowling are available in M-Club

Traffic Stop Line, IT Industry, & Mongolian hackers

mergen — Sat, 05 Dec 2009 07:57:50 +0000

MONGOLIA BUSINESS PODCAST #3 HIGHLIGHTS

December 4, 2009: This week, we discuss traffic laws, Mongolian IT industry, and Mongolian hacker vs. a peeping Mongol. (Download the podcast here: Mongolia Business podcast)

Mongolians and ex-pats alike may have noticed that cars are no longer stopping on pedestrian crossings. There is a reason for that. For the past two weeks, any automobile that stopped past the traffic stop line for cars, was fined 5,000 or 10,000 tugrugs (3-8 dollars). This is 3-8 percent of minimum wage. There is also an upcoming jaywalknig law with fines as much as 20,000 to 30,000 tugrugs…

Bayarsaikhan started Singleton LLC three years ago. After some employee and startup challenges, the web development is starting to pick up steam. In March, the company launched BizNetwork.mn, the Mongolian version of LinkedIn. It is now already a top 20 website and by far the best website in its category.

We also discuss a very interesting story from this summer where a Mongolian “white hat” hacker exposed the people behind an oft-despised underground website. The ensuing happenings engulfed all of Mongolian young office workers as the two parties duked it out…

Podcasters: Bobby Barnes, Mergen Chuluun, & Lhagva Erdene.
Guest Speakers: Bayarsaikhan of Singleton LLC and Tamir of Mongolian Software Industry Association.

Thank you for listening. Please give us feedback on how we can improve our podcast. Please let us know if you would like us to cover any specific topics. You can reach as on Twitter.com/MongoliaBiz and at MongoliaBusinessBlog (at) gmail (dot) com.

James Passin Bullish on Mongolian Stock Market

mergen — Thu, 26 Nov 2009 03:13:25 +0000

Today, while going through some articles on Mongolia, I ran across an article that happened to cover the Mongolian stock market by a stock market guru named James Passin. It was a lucky find as the article mostly talked about Berrylium. Anyway, please read on.

As you will find, James is very bullish on the local Mongolian stock market.

Source:

The Energy Report (TER), interviewed by Karen Roche, Publisher 11/19/2009
http://www.theenergyreport.com/pub/na_u/1214

Mongolian Stock Market Overview

TER: Any other regional international plays that you can discuss with us?

JP: Ivanhoe Mines Ltd. (NYSE:IVN, TSX:IVN) , the Canadian exploration company, finally executed an agreement with the Mongolian government with respect to the development of Oyu Tolgoi, the world’s largest undeveloped copper mine. This is a massive mine that will generate $5 billion of revenue per year for over 50 years. While this is a positive development of Ivanhoe, a stock that we’ve been trading from the long side all year, it will be much bigger story for the Mongolian stock market.

Mongolia GDP is only about $5 billion, so Oyu Tolgoi, or OT as the mine is called, will transform the prospects for employment and per capita GDP growth. A great wall of domestic liquidity will support the local stock market, creating a new bull market which will last for decades. The local stock market currently has depressed valuation and almost zero liquidity. Mongolia has structural similarities to other emerging markets that started out with very low market capitalizations, such Vietnam or the smaller Gulf states. There are 24 mineral projects that have been deemed strategic by the Mongolian government and that represent potential sources of commodity exports. The Ivanhoe deal marks the beginning of the Mongolian mining boom and I think the most leveraged long-term way to play this mining boom is through the local stock market.

TER: How does an individual investor play the boom through the Mongolian stock market?

JP: There are no restrictions on foreign ownership of stock and the currency is freely exchangeable. It’s easy to open up a fund brokerage account. The hard part is finding shares to buy because the market is very thinly traded. It’s possible to get a small amount of stock from time to time, although the entire market capitalization is only $500 million and the free float is much smaller. I think that it’s certainly worth taking time to do a little bit of research and look at some of the larger stocks that are listed on the Mongolian stock exchange.

TER: You mentioned there are 24 mineral projects and the big one is Ivanhoe with copper. With the recession worldwide, would we expect to see any return from anything in Mongolia for the next five years?

JP: The copper prices had a massive recovery. OT would be profitable at current copper prices. And Mongolia has other commodities, including coal, uranium, and iron ore.

TER: Thanks James. Interesting to talk with you, as always.

Describing him as “the Indiana Jones of frontier stock markets,” the Financial Times praises James Passin for visiting “rough, difficult places…rather than swanning around the more comfortable nightclubs…” A graduate of St. John’s College, James majored in philosophy and classical literature. He is a former editor and research director at investment newsletter Taipan. Passin co-founded and manages Firebird Global Fund and Firebird Global Fund II. James serves on the Board of Directors of National Investment Bank of Mongolia; Vangold Resources, Ltd., a company listed on the Toronto Venture Exchange; Sharyn Gol, a coal producer listed on the Mongolian Stock Exchange; and Maghreb Minerals PLC, a mineral exploration company listed on AIM. He also serves as a director of several private, venture-stage international resource companies.

DISCLOSURE:
1) Karen Roche, of The Gold Report, conducted this interview. She personally and/or her family own none of the companies mentioned in this interview.
2) The following companies mentioned in the interview are sponsors of The Gold Report: Mega Uranium (TSX:MGA), Vangold Resources Ltd. (VAN:TSX.V)
3) James Passin – I personally and/or my family have direct or indirect exposure to the following companies mentioned in this interview: UEX Corp., Mega Uranium Ltd., IBC Advanced Alloys.

H1N1 Causing Food Price Inflation – Mongolians Are Not Happy

mergen — Tue, 17 Nov 2009 09:36:40 +0000

Seabuckthorn prices have increased by 1500-2500 tugrugs per kilo in Mongoolia

Due to the outbreak of H1N1, there is increased demand for food products that enhance body’s immune system and help fight against the flu. As a result, pricing for garlic, sea-buckthorn, “aarts”, and horse meat have seen inflationary pricing over the last few weeks. News coverage has been high as locals have been quite upset and have demanded price controls.

Within one week, pricing of seabuckthorne had increased from 4500 tugrugs per kg to 6000-7000 tugrugs as of November 7th at a popular food market (Bumbugur). Garlic pricing had increased the most; what cost about 150 tugrugs is now basically double at 250-300 tugrugs. Price of “aarts”, a traditional Mongolian dairy product, has increased by 500-700 tugrugs to 1800-2000. And, pricing of horse meat has increased by 300 tugrugs to 2500 tugrugs per kilo, when most other meats have been declining in pricing.

As a result, local Mongolians have been very unhappy for the increased prices and have requested price controls. Locals believe that the monopolies are manipulating pricing of key food items in the current “swine flu” season. Pregnant women and elderly are people who at most risk and some cannot afford the increased pricing.

Storeowners, on the other hand, note that these food items have literally been flying off the shelves. Many stores, including the State Department and small neighborhood grocery stores, have all been out of garlic come evening quite frequently.

The capitalist in me thinks that the increased pricing is probably due to this sudden increase in demand with limited available supply. However, in Mongolia and in developing countries in general, it is always possible to manipulate and act rather “cleverly” when the anti-competitive and consumer protection laws are not as well created and enforced.

Mongol Bank rate for tugrug as of November 12, 2009 is 1,425 tugrugs to the US Dollar.

Sources:

news.gogo.mn http://news.gogo.mn/r/61909
TV news