Although the legal framework for dual-listing was established in 2013, companies operating in Mongolia but listed on foreign stock exchanges were not able to list their shares on the MSE due to the absence of a dual-listing regulation.

Therefore, the MSE and the Financial Regulatory Commission (FRC) formed a working group to develop the “Provisional Regulation on Registering the Shares of Foreign-Listed Companies and the Shares of Domestic Listed Companies Dual-listing Overseas”, which was approved by the FRC Meeting on November 24, 2017.

Companies looking for a secondary listing are usually incorporated overseas and have their primary listing on their home exchange. Due to the fact that they follow their home laws and regulations, the secondary exchange normally provides initial and ongoing exemptions as per common international practice. Therefore, the highlight of this regulation is the enabling of the foreign-listed issuers that are being dual-listed in Mongolia to follow the laws and rules of their home exchange and for their reporting purposes, professional opinion such as those by international audit and legal firms are to be equally accepted as if they are provided by domestic professional companies. 

Accordingly, the most important requirement for foreign-listed companies looking to be dual-listed on the MSE is to have their primary listing on one of the 26 stock exchanges approved by the FRC. Given the company satisfies this requirement, the remaining procedures are designed to be simple and straightforward.

The approval of this regulation is a significant development milestone for Mongolian capital markets in that it will enable approximately 30 foreign-listed mining companies operating in Mongolia to be listed on the MSE, giving the Mongolian public the opportunity to share the rewards and risks of their businesses.

The MSE ALL Index increased by 0.44 percent to stand at 1,273.16 points. The MSE market cap stands at MNT 2,435,121,867,239.

The Prime Minister instructed the Deputy Prime Minister to increase the state reserve of hay and fodder to prevent shortage during winter. Cabinet members agreed to locate sites for hay warehouses in Bayantsagaan soum of Bayankhongor Province, Arvaikheer soum of Uvurkhangai Province, and Tudevtei soum of Zavkhan Province. They also agreed to dispatch hey reserves to regions likely to face challenging winter conditions.

Premier U.Khurelsukh instructed ministers to support exports of sheep and goat meat from provinces with not livestock disease outbreaks. Since January, Mongolia exported 18,000 tons of meat to China, Russia, Vietnam and Iran. The Ministry of Food, Agriculture and Light Industry is expected to export 13,600 tons of mutton and 13,800 tons of goat meat this year.

During the meeting, Cabinet approved the quota for foreign workers in Mongolia for 2018. Next year, the number of foreign specialists and workers being employed by Mongolian organizations and enterprises with over 20 employees must be no more than five percent of their workforce. If it is necessary to exceed the five percent limit, Cabinet will review requests for exceptions.

The five percent limit does not apply to all Mongolian industries and Cabinet approved a list of organizations and enterprises that are allowed to hire more foreign workers. Prime Minister U.Khurelsukh instructed Minister of Health D.Sarangerel to determine the costs of medical examinations for the residence permit of foreign workers. As of October 31, there were 9,500 foreigners from 91 countries residing in Mongolia and the government plans to reduce the number of foreign workers by half in 2020.

“I think we are seeing fiat currencies in a hyperinflationary collapse against bitcoin,” he said, adding that we’ll see a major price correction somewhere at the $25,000 per bitcoin level. “Up until that price is achieved it looks like we’ll see a pretty strong upward move.”

On Monday, the digital currency smashed another all-time high, trading above $9,700 on growing signs of mainstream adoption by institutional investors.

According to Keiser, there is a huge market for other cryptocurrencies, but bitcoin has an entrenched network that is now growing exponentially. It is beyond the reach of any competition, of any nation-state and any cooperation to defeat it, the host of ‘Keiser Report’ said.

“Bitcoin is a perfect currency, something that is utterly changing the global finance and market and is putting banksters and the central banks out of business,” which, according to Keiser, “should be applauded because they’ve been horribly bad actors. We need to get rid of them and let bitcoin transform our world.”

He also suggested an interesting scenario that bitcoin could become “something of a financial black hole” and all cash that is currently invested in stocks and bonds is moved over into bitcoin. That will lead to a stock or bond market crash, or both, as “we see the price of bitcoin move into that $25,000 range.“

“That’s something that no central bank or country will be able to stop, and it’s becoming a real scenario, a real threat.”

Talking about bitcoin mining, Keiser said the energy required for that is quite significant as it costs around $2,000 to create a single bitcoin and therefore giving it real intrinsic value. “As the demand for bitcoin rises the energy will be there to meet that demand – that’s the way capitalism works,” he said.

For anyone who wants to enter bitcoin at this time, the former stockbroker recommends reading as much as possible. “Don’t just buy a bitcoin without knowing about it first. That way, when a correction does come and it inevitably will, you have some intellectual foundation to keep you in the game and to not panic sell. If you panic buy you could just as easily panic sell,” he explained.

Keiser dismissed concerns about bitcoin hacking, saying the core bitcoin blockchain itself has never been hacked while being immutable. That’s why it is “so alluring and attractive.”

“Despite all of the recent calamity and horrors — both natural and manmade — this really is a magical world that deserves to be explored,” said Jeremy Tarr, editorial director of Fodors.com. “We focused on celebrating and surfacing that wonder as we assembled this year’s lists.”

Fodor’s editors suggested Mongolia to everyone who wishes to “experience the final days of pristine nomadic life and the birth of a booming, modern metropolis”.

“Mongolia is a land of pristine blue skies that stretch for miles, rolling mountains and steppes covered in sweet Mongolian grass, mirrored Khuvsgul Lake, and vast desert landscapes. In the countryside, where locals don their ornate brocade deel and sip airag, a fermented horse milk wine at intimate Naadam celebrations, while racks of fresh khuruud cheese dry atop gers in the arid breeze. As climate change leads to desertification and pushes nomads into the capital city, Ulaanbaatar, these quiet scenes of Mongolian life are quickly vanishing.

“While the capital is undergoing a cultural and culinary revolution, 2018 might be one of the last years where visitors can experience the subtle splendor of the Mongolian landscape and nomadic lifestyle, while also enjoying the raw metropolitan energy of a city being reborn.”

Fodor strongly encouraged travelers to rent a Jeep, or even a motorcycle, and a driver to explore the vast grasslands, the remote temples of Chinggis Khaan’s capital at Kharkhorin, and the Flaming Cliffs in the Gobi Desert as it evaluated that much of Mongolia’s soul lies in the countryside. The review also advised purchasing cashmere and yak wool products and purses made from recycled traditional Kazakh tapestries to support nomads.

The best time to visit Mongolia is said to be from late spring to early fall, with July and August being the most popular dates for tourists as the National Naadam Festival is annually held during the summer. The official 2018 National Naadam Festival will take place throughout the country from July 11 to 15 with smaller, regional festivals throughout the year.

The delegation, headed by He Yiting, executive vice president of the Party School of the CPC Central Committee, visited Mongolia, South Korea, and Japan at the invitation of the General Office of Mongolia Government, the South Korean foreign ministry, and Japan's ruling Liberal Democratic Party (LDP) and its coalition partner the Komeito party, respectively. 

During its visits, the delegation explained the significance of the 19th national Party congress to the political parties, government, mainstream media and think tanks of the three countries.

The three sides congratulated China on the success of the 19th CPC National Congress and Xi Jinping's re-election as General Secretary of the CPC Central Committee, and lauded the influence of the Party congress to the world.

They said the visit has enhanced their understanding of the CPC party congress and China's future development and expressed the wishes for continued improvement and development of bilateral relations.