On 6 December, the Executive Board of Mongolian National Wrestling Association decided to ban four Mongolian wrestlers from competitions for 4-8 years. The State Lion E.Oyunbold who became champion of this year’s Naadam wrestling, has been banned for eight years after testing positive for banned substances repeatedly. Therefore, the doping scandal of national wrestler E.Oyunbold has finally closed after two years.

Separately, two wrestlers who has Provincial Lions titles and one Provincial Elephant were banned for four years from competitions.

The Foundation for Supporting Sports has been organising the ‘Mongolia against doping’ campaign in cooperation with the National Anti-Doping Centre since 2017.

Mongolian prosecutors charged N.Tuvshinbayar, a two-time Olympic medalist for a drunken assault which caused a fellow wrestler in a coma in April, 2021. The prosecutors submitted the case on 1 December to the Khan-Uul District Court charging N.Tuvshinbayar with a criminal code which carries a maximum sentence of 12 years in jail.

N.Tuvshinbayar, 36, was detained for 20 days as part of an urgent operation by permission of the prosecutor.

The victim is E.Enkhbat, a fellow judoka and a close colleague of Tuvshinbayar. E.Enkhbat was hospitalised unconsciousness at the intensive care unit of the National Centre for Treatment and Research after the assault that appears to have caused serious brain damage. Shortly after that, the victim flew to South Korea for brain surgery.

Enkhbat’s career medals include a silver in the men’s under-100kg category at the International Judo Federation (IJF) Grand Slam in Baku in Azerbaijan in 2013 and a gold in the same category at the IJF World Cup in Jeju, South Korea in 2012.

After winning the Olympic gold medal at Beijing 2008, N.Tuvshinbayar competed in the same under-100kg category at London 2012, claiming a silver medal on this occasion.

He was elected unopposed as President of the MNOC, which this year is celebrating its 65th anniversary, which occurred August last year. After the incident, N.Tuvshinbayar was removed from a position of the position.

A section of the first Blockchain Automotive Factory of Mongolia has opened on December 6.

Former Prime Minister R.Amarjargal and Bars Motors LLC founder and CEO D.Demberel kicked off the opening ceremony. “Mongolia has a high car ownership rate and annually imports 60-70 thousand old cars. Statistics show the country spends USD 500-800 million on automobile imports every year, which leads more money to flow out of the country for gasoline imports," said the Bars Motors founder. "Therefore, Bars Motors LLC intended to provide its customers with an automobile suitable for the Mongolian climate, MOZO”

Bars Motors opened a joint automotive assembly plant with a yearly capacity of 25 thousand automobiles in Hangzhou, China in 2019. This, time the company is opening the first Blockchain Automotive Factory of Mongolia, where automobiles will be assembled using parts supplied directly from manufacturers in Germany and Japan. The factory has a capacity to assemble 2,500 automobiles per year and the information about where the automobile parts were manufactured, how they were transported, where the automobile was assembled and sold, and who the owner of the automobile is, will be kept in a digital format.

In the first nine months of this year, the hotel industry revenue reached MNT 131.7 billion, showing an increase of MNT 2.1 billion or 1.6 percent, compared to the same period of the previous year.

This increase was mainly due to MNT 2.7 billion (6%) increase in revenue of unrated hotels and camps, reports The National Statistics Office of Mongolia (NSO).

Of the total revenue of the first nine months of this year in the hotel industry, three or more stars hotels accounted for 62.3 percent, unrated hotels --35.7 percent and two-star hotel -- 1.9 percent.

Bloomberg: A year ago, the average stock strategist may not have seen that the world’s best-performing index in 2021 would be Mongolia, or that a movie theater chain would rise 13-fold.

And while many were bullish, few predicted the sheer ferocity of the rally that pushed European and U.S. stocks to successive records, or the dip after the emergence of the omicron variant of Covid-19. Even fewer had forecast the slump in China or the liquidity crisis affecting the nation’s developers.

In short, it was a year of surprises — that was the least surprising thing about it. Getting the details right in 2022 will be no easier — but a few broad themes are likely to persist.

Covid-19

Pandemic developments have been the market’s main driver for almost two years, causing a crash in 2020 and then a sustained rally on the back of vaccination programs that allowed an economic reopening. And now worries over the omicron variant have sent ripples through world stock indexes.

Most strategists expect the virus to become a sidenote next year, as the advent of anti-viral pills from Pfizer Inc. and Merck & Co. add to humanity’s arsenal against the deadly infection. This majority view hasn’t changed in the face of warnings that the new strain may not respond to existing treatments.

Still, if there’s one thing the pandemic has taught us it’s that equity strategy is one thing, and epidemiology is another. And even if the virus becomes an endemic nuisance, the roller-coaster of restrictions to isolate those infected “is turning into a more persistent drag on growth,” said Romain Boscher, global chief investment officer for equities at Fidelity International.

Even if the virus were to disappear from our lives, that would likely still define stock market direction, as there would be no further grounds for fiscal and monetary stimulus — two of the main drivers of this year’s exuberance.

Inflation

Markets looked through surging prices this year, and for good reason, as soaring corporate earnings proved that companies can pass on higher costs to a consumer that remains willing to spend.

If inflationary pressures ease in coming months, don’t expect a relief rally, as that’s what stocks have priced in. “Having had its transitory inflation cake in 2021, the market may not get to eat it again in 2022,” Goldman Sachs Group Inc. strategists Dominic Wilson and Vickie Chang wrote in a note.

Should price pressures persist, or even intensify, things could get tricky. Stocks are only a good hedge against inflation up to a certain point, which Oddo BHF, WallachBeth Capital and Lombard Odier put at 3% to 5%. Sustained price growth beyond 4% would erode profit and harm stocks, according to Florian Ielpo, head of macro and multi asset at Lombard Odier.

High inflation would also pressure central banks to tighten policy, thus raising borrowing costs for highly indebted countries, such as Italy, and draining market liquidity. Federal Reserve chief Jerome Powell drew first blood this past week, warning about the possibility of faster tapering of asset purchases.

Morgan Stanley’s Graham Secker says the impact of the European Central Bank’s possible tapering on peripheral European debt is among the biggest downside risks next year, while JPMorgan Chase & Co. strategists singled a hawkish turn by central banks as the key downside to their bullish outlook.

Decarbonization

One reason that inflation may stay structurally higher is the transition to climate neutrality, a goal toward which the world’s biggest economies — from the U.S. to India — collectively committed this year. Higher carbon prices and environmental taxes increase production costs for industrials, while under-investment in fossil fuels has contributed to a spike in energy costs that threatens to dampen growth and disrupt output.

On the flip side, asset managers from BlackRock Inc. to Nuveen say decarbonization creates unprecedented investment opportunities. One needs look no further than electric cars for examples: Tesla Inc. stock has risen more than 1,000% since the start of last year, while Rivian Automotive Inc.’s market value briefly soared to more than $100 billion after last month’s trading debut, even though its sales are essentially non-existent.

With the Green party now in government in Europe’s biggest economy, decarbonization stocks may get a boost after declines this year for the likes of Siemens Gamesa Renewable Energy SA and Vestas Wind Systems A/S.

The Metaverse

Facebook’s rebranding drew attention to a growing space of economic activity outside the physical world, from social media to gaming platforms. Chipmaker Nvidia Corp. and video-game company Roblox Corp. are just two of the stocks to have surged briefly after Mark Zuckerberg rebranded the company he co-founded as Meta Platforms Inc.

The metaverse — digital worlds where users can socialize, play games and conduct business — is a multi-trillion dollar opportunity, according to Epic Games Inc. Chief Executive Officer Tim Sweeney.

Already, a digital model of a Gucci bag, which can only be used in a gaming platform universe, can cost more than the physical version. That’s because people in the developed world now spend more time online than interacting in physical spaces, according to Morgan Stanley. While the move accelerated with stay-at-home orders during the pandemic, it is projected to continue in the years ahead, and may take off for real when Apple Inc. joins the party.

China

Beijing rolled out swinging measures to curb the profits of technology giants and tutoring firms this year, and imposed restrictions on lending to real estate developers to cut its dependence on the sector. At the same time, soaring factory-gate prices made it hard for companies to maintain profit margins, while the lack of any significant easing measures by the country’s central bank in recent months has taken a toll on economic growth.

Offshore Chinese stocks in Hong Kong are among the world’s worst performers this year, while the Nasdaq Golden Dragon China Index is down more than 50% from its February peak. The MSCI China Index is near the lowest versus global stocks since 2006.

Still, many global institutions are turning more constructive on Chinese stocks.

BlackRock sees the peak of regulation having passed and expects more pro-economy measures to start having an impact in the new year, while BNP Paribas predicts Beijing will adjust its policies toward real estate developers and supporting the private sector at a key economic meeting this month.

“We believe the timing to position is right now,” BlackRock portfolio manager Lucy Liu said in a briefing on Nov. 23.

Goldman Sachs is bullish on the investment opportunities associated with President Xi Jinping’s “common prosperity” campaign, such as renewable energy. And UBS Group AG says tighter regulations have been priced in, while corporate earnings and valuations are set to improve.

And There’s More…

Staying on top of these themes won’t necessarily guarantee meaningful returns for investors. Potential black or white swan events are lurking everywhere: from the U.S. midterm elections to the French presidential vote, and from tensions in Taiwan to a full-blown crisis in Turkey’s economy following the plunge of the lira. Supply chain bottlenecks will continue to be closely watched, while global warming is another wildcard that traders may need to consider.

It’s therefore no surprise that there’s no consensus among the world’s most prominent strategists about the direction of equity markets: while HSBC Holdings Plc’s Max Kettner advises investors to start pulling the plug on stocks in the first half of next year, and sees things brightening up in the second half, UBS Global Wealth Management predicts exactly the opposite — a good start followed by a deteriorating outlook in the back end of the year.

While Goldman Sachs sees markets grinding higher next year, Bank of America Corp. takes a rather apocalyptic view, predicting low or negative, and in any case volatile returns in 2022.

And if we learned anything from 2021, it is that focusing on the fundamentals of companies you invest isn’t always the most rewarding strategy. By ignoring such principals, some retail investors made serious money last year, with AMC Entertainment Holdings up about 1,200%, and GameStop Corp. returning more than 800% for no apparent reason than a social-media fueled craze.

Going forward, Goldman Sachs advises investors be selective, avoiding firms with high labor costs and stocks valued entirely on long-term growth expectations. But then again, that’s just what strategists advised last year.

Mongolian Ministerial delegation and industry experts sought collaboration with Oil and Natural Gas Corporation (ONGC) Limited for exploration opportunities in Mongolia. Minister of Mining and Heavy Industry of Mongolia H E Yondon Gelen, Executive Director of Mongol Refinery Dr Altantsetseg Dashdavaa and FR Head of Mongol Refinery Orgil Chuluunbaatar visited ONGC DUB office on 3 December 2021. Mr Gelen said that the collaboration with big players like ONGC is key for the upstream growth in Mongolia.

Representing ONGC in the Mongolia Refinery Meeting were CMD Subhash Kumar, Director (Exploration) R K Srivastava, Director (Technology & Field Services) O P Singh, Director (Onshore) Anurag Sharma and Managing Director of ONGC Videsh Limited Alok Kumar Gupta. CMD Subhash Kumar mentioned that while ONGC and its group companies are spread across the energy value chain, the Maharatna still seeks suggestions and association especially in the area of renewables.

Mr Yondon Gelen said that India and Mongolia has a history of culture and relationship and his visit to India is for the sole purpose to seek partnership opportunities with Energy Maharatna ONGC. He noted that it was astonishing to witness the vast fields of energy sector covered by ONGC and the numbers reflect the capacity of the energy major. Mr Gelen said that Mongolia has vast lands and huge potential of growth in the field of oil and petroleum.

“We have potential geological exploration opportunities and the association with big upstream companies like ONGC will be key for our country’s growth. The Mongolian Parliament has recently passed the Mongolia Refinery Project for energy independence and it is on high priority for us. We seek joint exploration and research in our oil fields,” said Mr Gelen.

Executive Director of Mongol Refinery Dr Altantsetseg Dashdavaa said that refinery projects on the focus in Mongolia and best engineers are being deputed to work on it. She mentioned that the Indian government extending its hand had a huge role to play behind the Mongolian refinery project. Dr Dashdavaa noted that Mongolia needs reliable partners like ONGC for the growth of its energy sector. She asserted that the Mongolian government and industry is taking technical decisions and the capability of the workforce is huge as they are fast-learners.

Dr Dashdavaa said that the legal environment for the energy sector to flourish in Mongolia is also favorable. She stated that the Government Policy for the Development of Petroleum Sector of Mongolia (2018-2027) asserts “to support and protect the investment in petroleum-related activities”. She further mentioned that the government of Mongolia has awarded the Block for petroleum exploration and exploitation to the Mongol Refinery state-owned LLC and has allowed it to carry out exploration activities in cooperation with foreign and domestic entities. “We welcome ONGC to invest in Mongolia and implement our national refinery project,” she added.

Stating that India and Mongolia enjoy good relationship, ONGC CMD Subhash Kumar asserted that ONGC will be looking for upstream opportunities in Mongolia. Mr Kumar noted that the core area of focus of ONGC is majorly upstream areas, however the energy major is willing to collaborate with the Mongol Refinery. “The initial interest should be from both the countries and after that we can plan and arrange visits to explore opportunities,” said Mr Kumar.

HOHHOT — Erenhot, the largest land port on the China-Mongolia border, had logged a record high of 2,531 China-Europe freight trains this year as of Dec 5, up 15.5 percent year-on-year, according to the local railway authorities.

The port in North China's Inner Mongolia autonomous region now serves 53 China-Europe freight-train routes. The routes begin in more than 40 cities across China and end in about 60 destinations across 10 countries.

As of Dec 5, the port had recorded more than 15.6 million metric tons in its total import and export cargo volumes in 2021, up 2.9 percent year-on-year. Notably, its export cargo volume saw an increase of about 48 percent compared to the same period of last year.

Moscow and New Delhi sealed a deal on Monday that will let India produce more than 600,000 AK-203 assault rifles, according to Russian weapons maker Kalashnikov.

The agreement comes during Russian President Vladimir Putin’s official visit to India for talks with Prime Minister Narendra Modi.

It’s part of the new joint venture, Indo-Russian Rifles Private Limited (IRRPL), which, according to Kalashnikov CEO Vladimir Lepin, is opening up a new chapter in Russian-Indian military-technical cooperation.

He told TASS: “Russian and Indian specialists have carried out large-scale preparatory work over three years to optimize the project’s cost and technological parameters. Now that the contract has been signed, we are ready to start the production of advanced AK-203s in the town of Korwa in the coming months.”

The modern version of the iconic AK-47 Russian assault rifle has an effective range of 300 meters, is lightweight and robust. The AK-203 fires the much larger 7.62 mm rounds that have better penetrating power, while similar rifles with less stopping power fire the smaller 5.56 mm rounds.

Plans to set up a joint venture for the production of Kalashnikov assault rifles in India were announced by Prime Minister Modi in 2019. India will become the first foreign country to produce Kalashnikov assault rifles from the AK-200 series.

Dec. 6 (Xinhua) -- Mongolia has introduced a new revival policy for economic independence.

"Economic independence is based on a prosperous middle class, stable growth, inclusive growth and a multi-pillar economic structure. The COVID-19 pandemic has given us a real sense of how vulnerable Mongolia's economy is and how much it depends on others," Luvsannamsrai Oyun-Erdene, prime minister and acting head of the ruling Mongolian People's Party (MPP), said on Monday, at the opening ceremony of the ruling party's two-day congress.

The new revival policy covers comprehensive reforms in the areas of port, energy, industry, green development and government productivity, among others, according to the prime minister.

"Mongolia's economy is highly dependent on exports of a small number of mining commodities, such as coal, copper, iron ore, and gold, stifling the potential for many economic pillars. So, raw materials will be processed and value-added factories will be established," he said.

"Urban-rural imbalance is a major factor stifling our development," he said, noting that the capital city of Ulan Bator is home to over half of the country's 3.4 million population.

The government will fully support a national campaign, dubbed the "Billion Trees," which was rolled out on Oct. 4 and aimed at planting a billion trees by 2030 to combat desertification and reduce land degradation, he said.

The policy also covers skills training and performance enhancing for civil servants so as to streamline administration, create a favorable business environment and crack down on corruption and abuse of power, he added. Enditem

Globe International Center responds to a court ruling which imposed a fine on individuals who organized a flash mob in protest against the restrictive pandemic regulations of the Mongolian government.

Due to the pandemic, the rights of citizens to freedom of expression, access to information, and peaceful demonstrations are being severely violated in Mongolia. An example is the case involving Amartuvshin Dorj and Bulgantamir D, who led a flash mob on 28 June 2021 together with other entrepreneurs to protest against the government’s decision to restrict businesses as a response measure against the spread of COVID-19. During that time, demonstrations and gatherings were restricted under certain anti-COVID-19 measures in the capital city of Ulaanbaatar.

On 18 November 2021, the First Instance Court of Sukhbaatar District ruled that there was a violation of the Capital City Governor’s Decree of 16 June 2021 regarding quarantine protocols, and that Amartuvshin D. and Bulgantamir D. organized a flash mob without official registration with an authorized body and permission of authorized officials. Because of this, the court imposed a fine of 500.000 Mongolian tugrik (approx. US$190) on each of them, in accordance with Article 5.13 of the Law on Administrative Offences.

Reacting to the court decision, Amartuvshin stressed that “The law does not apply equally, and it serves the bosses differently.” He mentioned that on 17-19 September 2021 while the same measures against the spread of COVID-19 were in force, government officials organized a big event called “Digital Nation”, where thousands of people gathered at the same square. He criticized the authorities’ unfair treatment and double standard during the pandemic. This case clearly exemplifies violations of the right to peaceful assembly in Mongolia.

Over the past year around 200 demonstrations and protests were held across Mongolia. Monitoring results of the Globe International Center indicate that since 20 November 2020, 51 cases of violations of the right to peaceful assembly and association were registered. In all of these cases, perpetrators are, or were, public officials or law enforcement officials, with violations mostly including physical assault, fines, detention, and use of force against individuals.

The National Human Rights Commission of Mongolia (NHRCM) concluded that the guarantee of enjoyment of the right to peaceful assembly in the country is weak and this space is likely to shrink further. Therefore, the stages and forms of peaceful demonstrations must be protected by law.

Responding to the global pandemic, countries all over the world are forced to introduce and adopt laws and regulations having an adverse impact on fundamental human rights. Mongolia is no exception. Last year, the Law on Coronavirus (COVID-19) prevention, fight, and mitigation of its socio-economic impact was put in place. Subsequently, existing laws, including the Law on Administrative Offences and the Law on Disaster Protection, were amended. Section 5.13.2 of the Law on Administrative Offences provides that “In the event of disaster, infectious disease or hazardous phenomena, if not criminally responsible, violation or obstruction of the quarantine, restriction of movement, and their regime established by authorized bodies shall be punishable by a fine of 500 units or imprisonment for a term of 7 to 30 days for a person, and by a fine of 5000 units for a legal entity.” Yet, it should be noted that the Law on the Procedure for Demonstrations and Assemblies of 1994 is outdated: it does not effectively regulate emerging social interactions.

Based on the aforementioned case, monitoring results as well as the conclusion made by the NHRCM, Globe International Center urges lawmakers to immediately initiate a review of the laws and policies impacting the right to freedom of peaceful assembly in Mongolia. Globe International Center also urges authorities to be more circumspect in enforcing legislation that severely violates fundamental human rights, and not to misuse emergency measures against individuals who organize peaceful demonstrations to express their opinions during the pandemic.