At the regular Cabinet meeting held on May 16, 2012 it has been resolved to establish oil producing "Dornod Oil" company with a state-owned participation no less than 34% in Choibalsan, the center of Dornod aimag.  

The Cabinet of Ministers got introduced with the implementation procedures of a resolution to allocate shares to public and sell the shares to private entities. At the meeting the Minister for Finance D.Khayankhyarvaa said, "The one million MNT to elders and disabled civilians who have submitted their request to the Government will be distributed from next week firstly in Ulaanbaatar".  

There was necessity to make amendments on the draft legislation on regulation of the foreign investment in strategically significant sectors after "SouthGobi Sands" LLC announced to sell its shares of 57.6% to the China state-owned "Chalco" company. 

Road construction work for 13.7 km of a new highway from Yarmag bridge-Nisekh control post and from Sonsgolon intersection to Yarmag control post has officially started yesterday on May 16, 2012. The Prime Minister of Mongolia S.Batbold and the Governor of Ulaanbaatar city G.Munkhbayar have attended the opening ceremony. 

It has been resolved to raise the equity fund of the Ulaanbaatar Railway, Mongolia-Russian Joint Venture by 125 million USD at the regular Cabinet meeting took place yesterday on May 16, 2012.  

With today's session of Environment, Food and Agricultural Standing Committee of the State Great Khural (Parliament), the draft legislation on prolonging the period of the land privatization for Mongolian citizens was supported with its first discussion and was decided to commit to the plenary session for ratification. The land privatization period of Mongolian citizens is expiring on May 01, 2013. 

Much rumors are spreading among public following the information released on media that recently huge number of Chinese workers have arrived in Mongolia, more specifically every day about 200 Chinese workers are arriving on Erlian-Ulaanbaatar route passenger trains.

In frames of the "Year of Household Development" and "100 thousand household" programs initiated by the Government of Mongolia, the "Ocean Wind" Foundation to support Mongolians residing in South Korea together with the Ministry of Roads, Transportation, Construction and Urban Development of Mongolia are to host an expo directed for Mongolians in Seoul, South Korea on May 26-27, 2012.

The Government of Mongolia announced the 2012 is to be the year to support household development. Hence, within the scope of the Year of Household Development, the Mongolian National Chamber of Commerce and Industry is to host the first ever Expo of Mongolian Export Products at the exhibition hall of Misheel Expo Center on June 07-11, 2012.

With today's foreign currency auction, commercial banks submitted requests to the Bank of Mongolia to sell 1.5 million USD and 28.5 million CNY and to buy 2 million USD.

The "Mongolian Power 2012: Sustainable Energy - Investment - Technology" international conference hosted by the Ministry of Mineral Resources and Energy of Mongolia  made its opening at Chinggis Khaan hotel today on May 15, 2012.

For the first time ever, the Government of Mongolia has announced an online tender on procurement of common supply items and services.

Ulaanbaatar to Berlin flights by the MIAT Mongolian Airlines takes off from the Chinggis Khaan International Airport and lands at the Berlin Tegel Airport. The Tegel Airport was scheduled to close in June 2012, where the newly built Berlin Brandenburg Airport was to officially replace the Tegel Airport. 

The International Exposition "EXPO 2012, YEOSU" made its official opening in Yeosu, South Korea on May 11, 2012. High level officials as the President of Republic of Korea, the President of Peru and the Crown Prince of Kingdom of Denmark were present at the opening ceremony.

The Memorandum of Understanding was signed between the Ministry of Mineral Resources and Energy of Mongolia (MMRE) and Indian Maharatna Steel Authority of India Limited (SAIL) in Ulaanbaatar to explore business opportunities in the mining and steel sector on May 11, 2012.

Previously the www.InfoMongolia.com informed that the opening ceremony of the UN Economic and Social Survey of Asia and the Pacific 2012 Report was to be held at the Ministry of Foreign Affairs and Trade of Mongolia on May 10, 2012. 

The "Cooperation Agreement" was signed between the Trade and Development Bank of Mongolia (TDB) and the China Development Bank on May 10, 2012.

According to the report released by the National Statistical Office of Mongolia, in the first 4 months of 2012 the total industrial output increased by 61.7 billion MNT or 10.6 percent to 646.1 billion MNT (at 2005 constant prices) compared to same period of the previous year.

According to the "Social and Economic situation of Mongolia" as of the first 4 months of 2012 released by the National Statistical Office of Mongolia, the GDP by production approach reached 2,277.4 billion MNT at current price, 980.2 billion MNT at 2005 constant price in the first quarter of 2012, up by 30.2 percent at current price and 16.7 percent at constant price compared to the same period of the previous year.

Every year Mongolia National Chamber of Commerce and Industry and China Council for the Promotion of International Trade (CCPIT) together with the Chamber of Commerce and Industry of the Russian Federation jointly hosts the annual China-Mongolia-Russia Industry and Business Forum in rotation.

The total area of the spring sowing through the country estimated at 330 thousand hectares, introduced the Minister for Food, Agriculture and Light Industry of Mongolia T.Badamjunai at the regular Cabinet meeting that took place yesterday on May 09, 2012, whereas 320 thousand hectares of wheat, 15 thousands hectares of potatoes, 8 thousand hectares of other vegetables and 18 thousand hectares of fodder plants and technical crop will be planted rewardingly. 

Yesterday, on May 09, 2012, a Draft Concession Agreement for laying the base structures for 225 km railroad in route of Sainshand - Tavan Tolgoi and also the same length railroad between Ukhaa Khudag and Sainshand, operationalize them accordingly and transfer it into government owned asset was discussed at the Cabinet's regular meeting and was accepted in principle.

The shares of the "SouthGobi Recourses" Ltd (TSX: SGQ) (HKSE: 1878), the parent company of "SouthGobi Sands" LLC, which owns several big coal mine sites in Umnugovi aimag of Mongolia, have dropped in Toronto Stock Exchange (TSX) by 8.81% as of 04:00pm, May 08, 2012 EDT and currently is set at 6.210 C$ with day low at 5.790 C$ and day high at 6.770 C$. Also its share prices fell by 13.0% in Hong Kong yesterday on May 08, 2012 with closing rate of 46.0 HKD which equals to 5.92 C$.

The opening ceremony of the UN Economic and Social Survey of Asia and the Pacific 2012, launched by the UN Asia and the Pacific Region Economic and Social Commission, is to be held at the "Concession" hall of the Ministry of Foreign Affairs and Trade of Mongolia on May 10, 2012, at 10:00am-12:00pm. 

The "Financial Mechanism to Develop Green Economy" Forum is being held at Crystal conference hall of the Blue Sky Tower today on May 08, 2012. 

The "Gobi Resources" company has prolonged its period to sell its Tsagaan Tolgoi coal mine to "Modun Resources" until December 31, 2012.

In the week of April 30-May 04, 2012, a total of 437.1 thousand shares of 44 JSC worth 426.0 million MNT were traded at MSE through 5 trading sessions. With the secondary market trade of company bonds were traded 3.4 thousand “Mongol Makh” bonds of “Just Agro” company at the worth of 34.0 million MNT.

On May 03, 2012, the Prime Minister of Mongolia S.Batbold received Dr. Bernard Valla, Director General of the World Organization for Animal Health who is visiting Mongolia for the first time. "Animal husbandry is one of the main industries of Mongolian economy and the sector is accounted for large share of gross domestic product, employment and export revenue. Thus Mongolia has consistently been administering a policy to promote food, agriculture and light industry sectors", stressed the Prime Minster at the start of the meeting.  

As of May 02, 2012 the average prices of basic food commodities at major food markets and groceries stores has been increased by 0.2% compare to April 2012 and last week averages.  

Entrepreneurs from Novosibirsk city, the Russian Federation, are to make a working visit to Mongolia on May 14-18, 2012. In the frames of the visit, the Mongolian National Chamber of Commerce and Industry (MNCCI) announced to hold a joint meeting of entrepreneurs of the two countries on May 15, 2012, at the conference hall of MNCCI at 10:00am.