Altan San Securities - Mongolia Investment

News

GOVERNMENT TAKES OVER ZOOS BANK

Mongolia’s sixth largest private bank, Zoos Bank, came to the 100 percent control of the Government on November 19.
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DP GROUP AGREES TO GIVE DUTY TO ERDENES MGL COMPANY

DP group agreed to give an order to Erdenes MGL Company to work with a certain amount of profits. Head of the DP group in the Parliament Ch.Saikhanbileg said there is a possibility to earn a minimum of USD 8 million a year.
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G.ZANDANSHATAR: WE NEED TO WORK MORE INTENSIVELY TO ECONOMIZE THE FOREIGN TRADING

Minister for Foreign Affairs G.Zandanshatar visited the Foreign Investment Department of the Ministry yesterday. The Minister thanked the department for working efficiently with so little employees.
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IVANHOE ENERGY SUBSIDIARY TO MERGE WITH PANASIAN PETROLEUM INC IN MONGOLIA

Ivanhoe Energy Inc. (TSX:IE) said Wednesday its Mongolian subsidiary would merge with Alberta-based PanAsian Petroleum Inc. in an all-stock deal.
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MPS CRITICIZED FOR PROLONGING THE BUDGET DISCUSSION

Parliament is discussing the budget of 2010. The legal time to finish the talks is only 10 days now. Even though the MPs have not finished the second discussion, they still have two more discussions to go. The conflict between MPRP and DP groups about budget expense is causing the delay. MNT 116 billion will be short after the Human Development Fund is established. The MPs are trying to find financial sources to mend the shortage.