Government

Domestic abuse will now be considered a criminal offense

Summary: The Government held a regular session and decided to present the revised edition of the Law on Domestic Abuse and Violence to the Parliament. The draft law was created with the goal to make domestic abuse a criminal offense and to allow for appropriate punishment. In the preceding law, which was approved by the previous parliament, domestic abuse was considered a minor offense punishable by a fine. If the revised edition is approved, domestic abuse will be a criminal offense.

Keywords: : legal reform, Law on Domestic Abuse and Violence     The Official Gazette /page 2/

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ECONOMY

Grain harvesting is only at 2.3% complete

Summary: As of the first week of September, grain harvesting has currently only reached 2.3% completion . According to a statement released by the Ministry of Industry and Agriculture, 11.9 thousand tons of harvest was collected from 8,278 hectares of land. The western and central provinces started their harvest last week, but eastern provinces are planning to start harvesting on September 15^th. Due to poor summer conditions and hot temperatures, the Khentii Province lost 64.2% of its harvests, with 3 soums losing 100% of its harvest. This year, seeds were planted in 377.2 hectares of land and corn was planted in 355.3 hectares land. An estimated 501 thousand tons of grain, including 482.1 thousand tons of wheat, is expected to be harvested.

Keywords: harvest, agriculture   The Official Gazette /page 11/

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Government securities sold for 99.9 million MNT

Summary: The Mongolian Stock Exchange traded 13,982 shares of 11 companies with total value of 8.6 million MNT. Furthermore, 1,007 pieces of government bonds with a total value of 99.9 million MNT were traded in the Secondary Market. The BDS Index fell by 0.01%, reaching 2,668 units, while the Top-20 Index fell by 0.23%, reaching 11,703 units. The TOP-20 Index fell due to the drop in stock prices of Telecom Mongolia by 6.61% and Tavan Tolgoi by 2.73%. Gobi Company’s trading of 3.4 million MNT shares and UB BUK’s trading of 2.6 million MNT shares were the highest trades in terms of the total value, while UB BUK LLC traded 8,850 shares, which was most number of shares sold.

Keywords: Mongolian Stock Exchange   Today /page 1/

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mining

Drilling operations will commence at the Baynhundii and Altannar mines

Summary: Marketwired.com reported that Erdene Resource Development, which is listed on the Toronto Stock Exchange, will start drilling operations at the Baynhundii and Altannar mines for the 3^rd and 4^th quarter. Initial results for Baynhundii’s drilling operations will be announced at the beginning of the 4^th quarter. The Executive Director and President of Erdene Resource Development Peter C. Akerley stated that he is satisfied with results from an independent surveyor and, based on the results of the drilling operations, the main and reserve field can be better measured. Erdene Resource Development fully owns the mines in Baynhundii and Altannar, operates brass and porphyry mines in Huviin-Har, and molybdenum, copper, and porphyry mines in Zuunmod.

Keywords: mining, Erdene Resource Development   Today /page 1/

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Online story

Insurance companies have paid 15.9 billion MNT in compensation

Summary: Insurance companies in Mongolia are required to be insured by foreign insurance companies to mitigate some of their risks. This term is known as “dual insurance” in the Mongolian Law on Insurance. As of the second quarter of this year, insurance companies have paid 32% of their fees, totaling 19.6 billion MNT, to foreign insurance companies to cover dual-insurance and have been compensated 1.3 billion MNT. As of June, 121 reports and complaints were sent to the Financial Regulatory Committee regarding insurance compensation and they have been resolved according to law, resulting in compensation of 124,451,698 MNT.

Keywords: insurance, compensation    www.news.gogo.mn

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