FUKUOKA – Sekiwake Hoshoryu racked up another impressive win at the Kyushu Grand Sumo Tournament on Saturday, toppling rank-and-file opponent Wakamotoharu to keep his share of the lead.

The 23-year-old rising star from Mongolia improved to 6-1 with his victory over the No. 4 maegashira on Day 7 at Fukuoka Kokusai Center, where he shares the top of the leaderboard with No. 1 Takayasu, No. 9 Abi and No. 13 Oho.

The State Opera and Ballet Academic Theater (SOBAT) organized the first "Mongolian Grand Prix" ballet competition, announced the winners, and awarded them.

More than 200 ballet dancers aged 6-25 competed in 8 categories.

In the 6-8 age category in the classical solo genre of the first ballet competition, S. Oyukhan won first place, S. Dulguun won second place, P. Maral won third place, and E. Tselmeg took the honorable mention.

9-11 age category:

O. Gegeenee won first place, M. Nomin won second place, S. Anar won third place, and E. Urantugs took the honorable mention.

12-14 age category:

D. Burte-Ujin won first place, D. Burtjin won second place, E. Bayasgalan won third place, and U. Anar took the honorable mention.

15-19 age category:

B. Khulan won first place, E. Egshiglen won second place, A. Bayarjavkhlan won third place, and G. Dulguunnyam took the honorable mention.

16-25 age category in modern genre:

The best participants wereO. Iderbat, U.Munkhjin, and Kh Galtulga.

6-8 age category in classical team genre:

"Esmeralda's friends" team of Silfida Ballet Academy won the first place, "Khatad" team of Selenge aimag "Khatad" studio won the second place, "Light" team of "Dance garden" studio won the third place, "Gladness" team of "Gladness" Studio took the honorable mention.

9-11 age category:

"Viscaria" team of "Gladness" studio won first place, "Esmeralda's friends" team of Silfida Ballet Academy won second place, "Diana action" team of Silfida Ballet Academy won third place, "Dance garden" team of "Dance garden II" Studio took the honorable mention.

12-14 age category:

The winner is "Little swans" of Mongolian State Conservatory, and the runner-up is "The swans" team of Silfida Ballet Academy.

The chief judge of the first ballet competition was the chief ballet master of SOBAT D. Dashlkhagva. Judges are the head of SOBAT O. Ganbaatar, the executive officer of the composition of SOBAT E. Bekhtulga, and the State Honored Actress Kh. Gerelchimeg, classical dance teacher of Mongolian State Conservatory, Kh. Mungunkhulug, Classical dance teacher of Mongolian State Conservatory and State Honored Actress G. Tsolmon, solo dancer of SOBAT B. Saruul, and solo dancer and Honored Cultural Figure M. Od

Partner Air Chiefs and representatives from 18 NATO nations including Mongolia assembled via video teleconference for the 2022 Partner Air Chiefs’ Conference chaired by General James B. Hecker, Commander Allied Air Command.

NATO cooperates with a range of Partner nations and they contribute to several of its core activities, from shaping policy to developing interoperability and managing crises. Partnership programmes also assists in the development of national defence and security institutions and forces.

“Exchanges between Allied Air Command leaders and Partner Air Chiefs during these events gives us the ability to share knowledge and experiences to build solid relationships within the air domain,” said General James Hecker, Commander Allied Air Command.

The core objectives of conference are a look into the outcomes of the Madrid Summit 2022 with a particular focus on its impact for Partner activities within NATO, an update of the Ukrainian crisis with a presentation from Lieutenant General Mykola Oleshchuk, Commander of the Ukraine Air Force, and how it has influenced Allied air activities, and an overview of Allied Air Commands current partnership activities discussing areas that could be increased or open to new Partners in the future.

Mr. Rob Smith, a Senior Intelligence Analyst talked about the changing strategic environment noting NATO faces challenges in multiple directions. While General Shunji Izutsu of the Japan Air Self-Defense Force spoke about NATO cooperation from the Indo-Pacific perspective.

Major General Luis Carlos Cordoba, Commander of the Columbian Air Force, delivered a presentation on the employment and usage of aerospace capabilities for Amazon protection, giving an understanding the role of Columbian Air Force in the protection of the environment in combating the deforestation.

Additional topics included the Space domain and education and training opportunities were discussed among the participants.

NATO

Chinese President Xi Jinping said on Thursday that the Asia-Pacific area was “no one’s backyard,” urging for greater regional cooperation on development and security. Xi’s statement was made in written remarks to the Asia-Pacific Economic Cooperation summit in Thailand and released shortly after he arrived there.

“The Asia-Pacific … should not become an arena for a big power contest,” Xi said, adding that, “No attempt to wage a new cold war will ever be allowed by the power or by our times.”

According to him, any attempt to disrupt or even dismantle the industrial and supply chains formed in the Asia-Pacific over many years will only lead the region’s economic cooperation to a dead end.

“The 21st century is the Asia-Pacific century … We, members of this region, have come a long way in pursuing economic development, and we will surely write an even more brilliant chapter in the years ahead,” Xi stressed.

The Chinese leader put forward a six-point proposal in this regard, namely bolstering the foundation for peaceful development, taking a people-centered development approach, pursuing greater levels of openness, striving for higher-standard connectivity, building stable and unimpeded industrial and supply chains, as well as promoting economic development.

The Asia-Pacific region accounts for around 60% of the world's population and almost 50% of global economic output. One of the fastest-growing parts of the world, it is widely viewed as a hub of global trade.

According to last month’s report by the S&P Global Market Intelligence, Asia-Pacific economies will dominate global growth in the upcoming year. S&P predicted the region will achieve real growth of roughly 3.5% in 2023, while Europe and the US will likely face recession.

The British Association of Trade and Commerce in Mongolia will hold a Royal Gala Dinner on Saturday 26 November 2022 at the Shangri-La Hotel. The evening will include a range of unique and exciting entertainment including an excerpt from Shakespeare, a live string quartet and piano (from a pianist due to play Carnegie Hall next year), dances, a circus display and two race events where guests will have the opportunity to own or bet on a horse. All funds raised will go to support our four named charities. The Veloo Foundation, Misheel Kids Foundation, Christina Nobel Foundation or the Lotus Centre.

The theme of the evening will now be a celebration of the late Queen's life and support for the new reign of King Charles III, who in his former capacity as Prince of Wales, supported several charities and organisations that focus on supporting children and young people.

To purchase your e-tickets for this prestigious event please contact Ariuntuya Tsend at batcmongolia@gmail.com or on 976 99009737.

Yours sincerely

Steve J. Potter

Chairman

British Association of Trade and Commerce in Mongolia

Mongolian authorities asked Russia to supply additional volumes of diesel fuel before the coming of cold weather, this should be resolved during December, Deputy Prime Minister Victoria Abramchenko told reporters on Tuesday. She was speaking after a meeting of the intergovernmental commission on trade and economic cooperation between Russia and Mongolia.

"We received an additional request from the Mongolian side to increase the supply of diesel fuel and are already discussing this issue in detail. In December, we should come to an appropriate decision. Today we heard about it for the first time. Our colleagues want us to resolve this issue very quickly, within December, before the coming of cold weather," Abramchenko said.

According to her, in order for Russia to be able to supply these volumes, Mongolia needs to adjust its laws on petroleum products. The Russian side proposed a formula that would make it possible to remove the relevant barriers.

"This law has been under consideration for more than two years, the amendment is ready, and we agreed that as soon as the Mongolian delegation returns home, they will launch the procedure for considering the amendment for the second reading, so that our operator will be the only supplier of oil products to the Mongolian market," Abramchenko explained.

She also stressed that Russia has already increased the supply of diesel fuel to Mongolia. "Over the past period, the volume of such deliveries from the Russian Federation has already increased by 60%," she specified.

Mongolia's inflation, measured as the consumer price index, surged year-on-year by 14.5 percent in October, said the country's National Statistics Office on Tuesday.

The index rose 1.3 percent from the previous month and 10.9 percent from the start of 2022. The increase is largely related to the higher prices for imported goods, the office said in a statement.

There are 410 items in the country's consumer goods and services basket, with 221 of them imported, said the statement.

Last week, on November 11, the State Great Hural approved the 2023 State Budget of Mongolia. At a time when the whole world is trying to strengthen its economy by switching to austerity mode, how Mongolia budgeted its budget is drawing people's attention. The current budget is unique in that it was approved at a time of uncertain risks, from the need to keep the inflation rate at a single digit in the next year to the impact of geopolitical and war issues.

Budget revenue to be 19 trillion 49.6 billion

The budget for the upcoming year will bring in MNT 19 trillion 49.6 billion in overall revenue, which is equal to 34.9 percent of the country's GDP. The total balanced budget deficit is anticipated to be MNT 1 trillion 425.7 billion, or 2.6 percent of the gross domestic product, whereas the total expenditures are MNT 20 trillion 475.3 billion, or 37.6 percent of the GDP. The budget was developed for the first time in accordance with the austerity law, officials emphasize. However, the total revenue expected to be collected in 2023 is MNT 3.4 trillion, which is more than 20 percent greater than the approved budget for 2022. The total deficit of the budget has been reduced to MNT 1.4 trillion, by MNT 127.6 billion compared to the previous budget. The deficit, for instance, hit MNT 4.4 trillion in 2020, MNT 2.9 trillion in 2021, and MNT 2.4 trillion in 2022.

Inflation rate to be kept at single-digit amount

Economic growth is projected to be 5 percent in Mongolia's budget for the following year, while inflation is projected to be 8 percent or a single-digit amount. However, according to international organizations, Mongolia's inflation rate would be between 10.5 and 13 percent in 2023. For instance, the Asian Development Bank found that Mongolia's inflation will still be high as a result of rising import prices brought on by disruptions in the supply chain, rising transportation costs, and the depreciation of the MNT relative to other currencies. According to the National Statistics Office of Mongolia, the depreciation of the MNT, problems with logistics and transportation, and excessive food inflation on the global market have all contributed to the inflation rate reaching 13.8 percent as of right now. The experts warn that projections may diverge due to the external environment's uncertainties, changes in the inflation rates of trading partners, and a decrease in the MNT currency rate.

Debt guarantee cap to be MNT 3.7 trillion

As of the halfway point of this year, Mongolia owes USD 33.3 billion in foreign debt. If we break it down, businesses have USD 21.3 billion, the government 8.1 billion, the central bank 2.5 billion, and the remaining USD 1.4 billion are issued to commercial banks. The maximum amount of international and domestic loans that the government may take in 2023 as part of funding the budget deficit is set at up to MNt 2.8 trillion. In particular, the government has been given permission to use up to MNT 1.2 trillion in foreign project loans. To put it another way, the government has estimated that it will receive MNT 4 trillion in loans to pay its losses next year. The maximum amount of the government's debt guarantee for the upcoming year will be MNT 3.7 trillion.

Mining sector to contribute MNT 4.9 trillion to budget

According to forecasts, state budget spending will rise by 58 percent in 2023 compared to 2022. It is anticipated that the Oyu Tolgoi underground mine will be put into operation next year, which would result in an increase in copper exports for our nation, which is dependent on mining. Mongolia, therefore, intends to step up the recovery of the border ports, increase the export of mineral goods, and concentrate its efforts on enhancing tax payments in the upcoming year. For instance, it is estimated that mining, which currently bears the bulk of the economy's weight, will produce MNT 4.9 trillion in revenue next year, or approximately 25 percent of the total budget revenue.

According to estimates, royalties from mineral resources will bring in MNT 2.5 trillion, 238 billion from gold, 1.7 trillion from coal, and 2.3 trillion from copper concentrate. In doing so, it was anticipated that copper would cost USD 8400 per ton and coal would cost USD 200 per ton. In addition, the completion of the railway connection between Gashuunsukhait and Gantsmod border port will result in a rise in coal shipments to 36.5 million tons in the next year. Experts have cautioned that recent coal export predictions have been overly optimistic, which could cause a disruption in the state's revenue. International specialists point out that although the cost of mineral products has risen in recent years on the global market, there is a tendency for it to fall in the coming years.

No new investments to be made

Although the government declared that it has fully shifted to austerity mode, the state budget expenditure was approved to be MNT 20 trillion 475.3 billion. Mongolia specifically boosted its expenditure over the prior year by 2.5 trillion. Mongolia will complete the construction projects begun in previous years and won't make any additional investments in the coming year. MNT 2 trillion 695 billion will be used to finance investment projects, measures, and constructions in the coming year while MNT 279.5 billion has been budgeted to spend on projects, measures, and constructions implemented under the turnkey contracts. For instance, 78 percent of the ongoing project will be completed in 2023, along with 86 schools, 62 medical facilities, 36 boarding homes, and 103 kindergartens. Public transportation fleet reforms will also be fully settled, and particular attention will be paid to decreasing the traffic in the upcoming year. In this context, the capital city will receive MNT 318 billion for the public transportation fleet renovation.

Finance Ministry's budget reduced by MNT 115.5 billion

One of the most important things that draw citizens’ attention is budget management. The funding that the Minister of Energy will use to finance the night electricity tariff has increased, as shown in the budget for the next year. Moreover, the budget of the Ministry of Energy and the Ministry of Environment and Tourism has grown by MNT 83.7 billion and MNT 11 billion, respectively, for the upcoming fiscal year. Additionally, MNT 18 billion more has been allocated to the Minister of Health's budget for the "Whole Liver-Mongolia" program's continuous implementation. On the other hand, the budget for the Minister of Finance has shrunk by MNT 115.5 billion, while the President's Office's expenses have declined by MNT 341 million.

Policy support to be provided for decentralization

The budget policy's implementation, which aims to balance urban and rural development, lessen excessive concentration, ease traffic congestion, and foster entrepreneurship and investment, will be closely watched the following year. For instance, citizens and entities shifting their businesses from Ulaanbaatar, the capital city, to the rural regions will be able to receive loans with a discounted interest rate of 1 percent, and individuals moving from the capital city will receive reduced mortgage loans of 3 percent.

In terms of the child allowance, it will be provided to 90 percent of all children of the households with a monthly income of less than MNT 3.5 million. Mongolia anticipates spending MNT 1.4 trillion on 1.1 million kids in 2023.

Thus, the budget was passed by the State Great Hural during a challenging moment for the economy, as rising inflation, a falling MNT exchange rate, and a decline in foreign exchange reserves will make things difficult for Mongolia's economy in the year to come.

Mongolia has provided housing mortgages to 6,469 borrowers since the beginning of this year, the country’s Ministry of Construction and Urban Development reported.

Over 80 percent of the housing mortgages were provided to residents in the capital city of Ulaanbaatar, which is home to over half of the country’s 3.4 million population. However, the Government is now focusing on providing housing mortgages in more provinces than Ulaanbaatar in order decreasing population density.

Since beginning implementing a mortgage loan program in 2013, a total of 109,800 borrowers have benefited from the housing program.

In order to increase affordability and accessibility of apartments and reduce air pollution in urban areas, the Mongolian government started implementing a mortgage loan program in 2013, targeting mostly families living in Ger district areas. With loan funding from the Bank of Mongolia, commercial banks have been providing Mongolian citizens aged above 18 years old housing mortgages at a subsidized interest rate of eight percent per annum for a maximum of 30 years for the purchase of an apartment of up to 80 square meters.

Beginning from October 2020, the Bank of Mongolia’s regulation on the housing mortgage financing have been changed to reduce the annual interest rate of housing mortgages issued after October 01, 2020 down to six percent with a view to make mortgages more affordable by providing reduced interest rate loans with government subsidies.