May 5th, 2011
Quadrupling Mongolia’s rail network will send coal, copper and rare earths to Japan and South Korea under a plan to reduce dependence on the Chinese market and boost economic development by lowering transportation costs, local and international media reports.
Sandwiched between Russian and China, Mongolia is about to lay 3,542 miles of track across the country and to Russia’s Far Eastern sea ports.
Mongolia has grown increasingly dependent on commerce with China since the 1991 collapse of the Soviet Union. More than 75 percent of exports went to PRC in 2009, according to European Union figures. Read the rest of this entry »
April 11th, 2011
Mongolia will have its first nuclear power plant by 2020 and planned to build nuclear fuel production capacity, Tsogtsaikhan Gombo, deputy chairman of state-owned MonAtom LLC has stated this week.
Japan’s recent nuclear disaster is not seen to have a lasting impact on the global nuclear industry, he said.
“We don’t think it’s a big problem for the industry as a whole. It’s a little bit of set-back in time frame, but as a whole it will go on” Gombo said. “We want green development and nuclear is the number one choice.” Read the rest of this entry »
March 14th, 2011
Oil-rich Azerbaijan had its first Facebook-organized rally last Friday.
According to Amnesty International information, about 300 people gathered in the city’s Fountain Square for a rally held by the Musavat opposition party. Several people were also detained on their way to the event by the police.
“There is no justification for heavy-handed tactics to be used against obviously peaceful protestors,” said Natalia Nozadze, Amnesty International’s Azerbaijan expert who was present at the protest. Read the rest of this entry »
November 18th, 2010
Mongolia’s aggregate industrial output and external trade turnover have increased remarkably over the first 10 months of 2010, official statistics show.
From January through October, the total industrial output increased by 177.2 bln.tog or 13.2 percent to 1.517.4 bln.tog compared to the same period the previous year. Read the rest of this entry »
October 6th, 2010
U.S. Defense Secretary Robert Gates will meet his Chinese counterpart Liang Guanglie next week on the sidelines of an ASEAN conference in Hanoi as the United States and China move to end an eight-month freeze on military exchanges.
Gates is reportedly planning to travel to China early next year.
“I think we are efforting to put together a meeting of that sort when Secretary Gates and his Chinese counterpart are attending the ASEAN-plus ministerial in Hanoi early next week,” Pentagon spokesman Geoff Morrell told reporters. Read the rest of this entry »
August 18th, 2010
Although both are posed to outperform most developed markets, at least one senior wealth management executive believes that Chinese stocks should be the preferred choice over Indian stocks based on the former’s presently low valuation.
“Emerging markets China and India are quoting in the range of 12-13 and 17-18 price to earnings, with India clearly outperforming the rest of the world,” Stephen Corry, director and chief investment officer of Merrill Lynch Wealth Management’s Asia-Pacific region, told Reuters in an interview. “We expect China to outperform India in the second half of 2010.” Read the rest of this entry »
May 4th, 2010
Mongolia continues its transition to a free-market economy by making a legal framework for launching casino in one of the country’s Free Trade Zone (FTZ) in the Mongolia-China border town of Zamyn Uud. Members of the Ikh Khural (Parliament) D.Zagdjav and D.Batbayar proposed a draft law for a Limited Casino to speaker D.Demberel.
This is the third try to pass the law on Casino through Ikh Khural. Two other drafts were rejected by the previous Parliament.
“Neighboring regions of neighboring countries don’t have any casinos or gambling centers, which allows such businesses to flourish in Mongolia,” deputies said to Business Mongolia. Law initiators believe that it will contribute to the Mongolian economy and revenue. Read the rest of this entry »
March 11th, 2010
During the Parliament-session of deputy group ‘Onir’ on Tuesday, Kazakhstan announced that it would begin exporting grain to China.
“I can report that 20 thousand tons of wheat has been exported to the Peoples Republic of China for the first time,” said Kazakhstan’s Vice-Premier Umirzak Shukeev during the meeting. Read the rest of this entry »
February 24th, 2010
Below is the statement issued by the Chinese Embassy in the U.S. following the Dalai Lama’s visit to America and his subsequent meeting with President Barack Obama.
What Dalai Lama has said and done in the past decades have fully shown that he is not a pure religious figure, but a political figure in exile who’s long engaged in activities to split China and undermine ethnic unity in China under the cover of religion. While claiming that his visits to foreign countries are aimed at spreading religious teachings, he has never stopped defaming the Chinese Government, selling “Tibet independence” proposals and undermining relations between China and other countries. This is well reflected in his remarks during his current visit, including those he made on CNN’s Larry King Live. Read the rest of this entry »