Both countries can operate direct flights based on the bilateral aviation agreement but no proposal yet for such a flight, U Ye Htut Aung, deputy director general of Department of Aviation told The Myanmar Times on October 20. 

“They can fly directly from and to Myanmar and Mongolia if any airlines are interested. But we haven’t received any proposal yet for direct flight between the two countries,” he said. 

According to the Freedom of Air Agreement between Myanmar and Mongolia, airlines can stop over in Myanmar and continue their journey to other destinations, for instance to Singapore or Malaysia, he said. 

Myanmar has signed aviation agreements with 48 countries.

The Ministry of Finance and Planning said, trade volume between both nations remained small and during the 2015-2016 fiscal year the value was only more than US$360,000.

“Mongolia is not a big country to deal with Myanmar in terms of foreign trade. We used to export garments to Mongolia and Mongolia imported whipping cream. The amount of trade volume is not much difference between us,” U Khin Maung Lwin, assistant permanent secretary of Ministry of Finance and Planning said.

Bilateral trade was about $40,000 in 2016-17 fiscal years and Myanmar exported $12,000 worth of goods until October in this fiscal year.

· The Company has signed the contract with BGP Inc (a divisions of China National Petroleum Company) for 3D and 2D seismic work in Blocks IV and V

· Preliminary mobilization and camp construction is already underway, allowing for immediate preparatory and long lead work to begin

· The 218km2 3D survey in Blocks IV and V will be the first ever 3D seismic acquired in western Mongolia

Further to its announcement of 4 October 2017, the Company is pleased to provide the timelines and details regarding the planned seismic work programme following the signing of the BGP contract, as detailed further below. The 220km2 3D survey will be the first ever 3D seismic acquired in western Mongolia. It will be conducted over the Tugrug Basin of eastern Block V, a longstanding priority basin for Petro Matad with a proven working petroleum system including mature source rock, reservoir rocks with good porosity & permeability and live hydrocarbon staining found in previous stratigraphic coring operations. 

The survey in the Tugrug Basin of Block V is expected to begin 3D data recording operations by mid-November and to be completed by mid-December, 2017. The crew will then begin a 150 line km infill 2D survey in the same area, extending outward from the 3D, to cover surrounding prospects and leads. No camp move is required so the 2D acquisition can begin seamlessly after completion of the 3D. As such, the estimated completion date of the Tugrug Basin 2D program will be two weeks after the 3D. 

Following completion of the Tugrug Basin 2D, the crew and camp will move 350km NW into Block IV to acquire a new 205 line km 2D seismic grid over the Khangai Basin. The Khangai Basin is a deep and prospective basin in north-central Block IV. It has been high graded following the results of the airborne FTG/HRAM survey of 2015. Whilst only two regional 2D seismic lines currently cross the Khangai Basin, these lines show adequate basinal depths (3500M-4000M) and prospective structural and stratigraphic configurations. The Khangai Basin 2D survey is projected to start in late December, and complete before the end of January 2018. 

Processing of both the 3D and 2D data has been contracted to Western GeCo (a division of Schlumberger Limited). The data will be delivered to the processors in near real time to allow maximum efficiency and return of processed data to the Company. Both the 3D and 2D programs are focused on high grading specific leads and prospects to potential drilling targets for the 2018/19 operational seasons.

The benchmark-sized 144A/Reg S notes have expected ratings of B-/B- (S&P/Fitch) and will price today.

Proceeds will be used for the repurchase of the US$500m 4.125% notes due January 2018 and Rmb1bn (US$151m) 7.50% Dim Sum notes due June 2018 via tender offer, as well as to retire certain of the government's external debt.

Credit Suisse, Deutsche Bank and JP Morgan are joint bookrunners on the transaction.

Germany’s second-largest lender has hired Goldman Sachs and Rothschild to evaluate its options, including a possible defense scenario, they said. Commerzbank, Goldman Sachs and Rothschild all declined to comment.

Commerzbank has been restructuring ever since an ill-timed acquisition of Dresdner Bank for 9.8 billion euros ($11.53 billion) in 2008. The move forced Commerzbank to take a government bailout, slash jobs, close hundreds of retail branches and rein in its investment banking.

But its strong corporate lending business - Commerzbank specializes in financing Germany’s prized Mittelstand of medium-sized companies - makes it an attractive target for European peers eyeing a stronger footprint in Europe’s largest economy.

Italy’s UniCredit recently told Berlin it is interested in eventually merging with Commerzbank, people familiar with the matter told Reuters last month.

The bank has also caught the eye of other European peers. But the German government, which still holds a 15.6 percent stake, last month denied a report that it favored a merger of Commerzbank with France’s BNP Paribas.

Berlin has said it would be willing to eventually sell the stake but it needs to get at least 18 euros per share in any sale to avoid a loss on its investment.

Shares in Commerzbank, which has a market capitalization of 14.4 billion euros ($16.93 billion), were up 2.5 percent at 11.71 euros by 0800 GMT.

While a foreign peer may eventually succeed in buying the lender, a consolidation within Germany is also on the cards.

Top executives at Commerzbank and bellwether Deutsche Bank held unsuccessful talks on a combination last year, a person with knowledge of the matter said at the time.

Regardless of the outcome, private equity firm Cerberus stands to gain from any deal after recently becoming Commerzbank’s second-largest investor with a 5 percent stake.

Goldman Sachs had been in contact with Commerzbank for months, but the mandate was formalized after Cerberus’ investment in the summer, a person close to the matter said.

The bank mandates were earlier reported by the Financial Times.

While the UN Security Council ban on Pyongyang's sale of coal, iron ore, lead, lead ore and seafood are only due to come into force this month, China began to enforce the restrictions in mid-August. The September coal cargoes were valued at $44 million which translates into $86 a tonne, a deep discount to the ruling price for metallurgical coal.

In the past China skirted embargoes against North Korea on humanitarian grounds
Coal imports for the first nine months of 2017 totalled 4.83m tonnes. Last year China imported 22.4 million tonnes of anthracitic coal that can be used as an alternative to coking coal in the steelmaking process from North Korea, a nearly 15% rise from 2015. That placed the Asian country just behind in Australia as China's number two supplier of met coal.

In the past China skirted embargoes against North Korea on humanitarian grounds, saying a ban would hurt ordinary citizens of the impoverished country, but pressure on Beijing has increased as Kim Jong-un's nuclear missile program advances.

Coking coal is trading nearly $140 a tonne below its mid-April peak when the price of jumped to highest since the second quarter of 2011 due to disruptions related to cyclone Debbie in the state of Queensland.

But most producers would probably be happy with today's price around $178. In November 2015, the spot price fell to a record low of $75 a tonne. Coking coal averaged $121 a tonne in 2016 and $90 the year before.

China's imports of iron ore and lead concentrate from North Korea also fell sharply in September, back to levels last seen at the start of the decade according to Reuters calculations.

Lead ore and concentrate shipments came in at just 1,321 tonnes, worth $1.18 million, down 84% from a year earlier. Iron ore shipments plunged 98% to just over 3,000 tonnes, worth about $55,000. Chinese exports of gasoline and diesel to North Korea have fallen to close to zero.

Exchange rate of CNY against MNT also has been weakened. CNY equaled to MNT378.63, according to the central bank’s official rate and today it equals to MNT369.95. Rate of RUB has been stable and equals to MNT42.77.

On the primary market for government securities, 103,476 bonds worth MNT9.9 billion were traded.

On the secondary market for government securities, 4,603 bonds worth MNT453.5 million were traded.

The MSE ALL Index decrease 0.34 percent to stand at 1,152.12. The MSE market cap stands at MNT 2,259,244,197,593.

The miners of bitcoin, ethereum, and other virtual currencies will have to register and pay taxes.

Putin also wants regulation of ICOs (initial coin offerings), taking as a basis the practice of initial public offerings (IPOs).

The same position is held by US regulators, In July, the US Securities and Exchange Commission recognized tokens as securities, which means their release must be accompanied by appropriate procedures by qualified investors and registration. Tokens are digital money offered by companies (usually backed by their goods) in exchange for investment.

By December 20, this year the Russian government should create a special “sandbox," based on the instruments of the Central Bank to test the new financial technologies, products and services.

Earlier this month, Putin said the use of cryptocurrencies poses serious risks that must be taken into account when regulating them.

As cryptocurrencies “are issued by an unlimited number of anonymous sources,” in case of any problems, including “system malfunctions” or the emergence of currency bubbles, there will be no one liable, Putin warned.

To date, cryptocurrencies in Russia are not officially regulated. The Ministry of Finance has suggested introducing mandatory registration of cryptocurrency miners and only to allow legal entities and individual entrepreneurs to participate.