Asia

Myanmar Stock Exchange Launch Moved Up To 2013 After Security Exchange Law Passed

"Myanmar will have its own stock exchange soon, according to the country’s deputy minister for finance and revenue, Maung Maung Thein. Preparations and implementations for the market are already underway. To establish the stock exchange, the Central Bank of Myanmar is cooperating with the Daiwa Institute of Research Group, a leading Japanese think tank with expertise in economics and financial capital markets, and Japan’s Tokyo Stock Exchange. Later this month, there will be a demonstration of the operation of the stock exchange with the help of a Myanmar information technology company, Thein said." Continue reading →

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Why And How To Invest With Brokerages In Mongolia (2011)

"You can open a brokerage account in Mongolia without going there. I met with six different brokerage firms while in Mongolia and opened multiple accounts. Transaction fees for stock trades I was quoted ranged from 2% to 3.5%, while for bonds I was quoted rates from 5 to 20 basis points. Required fees to open an account ranged from 5,000 Togrog (about $4) to 40,000 Togrog (about $32). Some account opening procedures may request having your signature notarized to have a power of attorney to trade stocks on your behalf, but this can be done in your home country as well with minimal effort." Continue reading →

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Mongolian Stock Exchange reforms unlock potential of 45 billion USD

"The Mongolian Revised Securities Market Law will come into effect on January 1, 2014 and legal organizations are currently working to reform related laws and regulations before its arrival. The law’s initiators stress that the Mongolian stock exchange market, valued at 1.4 trillion MNT as of July 2, will be able to grow, as well as its convertibility, by introducing reformed and revised regulations in Mongolia’s securities market. Representative of the Mongolian Stock Exchange thus stressed that Mongolia’s stock market range, which tripled in the last four years, will be able to expand up to 30 times." Continue reading →

Continue ReadingMongolian Stock Exchange reforms unlock potential of 45 billion USD

1990 Democratic Revolution in Mongolia – Wikipedia

"The 1990 Democratic Revolution in Mongolia was a democratic revolution that started with demonstrations and hunger strikes to overthrow the Mongolian People's Republic and eventually moved towards the democratic present day Mongolia and the writing of the new constitution. It was spearheaded by mostly younger people demonstrating on Sükhbaatar Square in the capital Ulaanbaatar. It ended with the authoritarian government resigning without bloodshed. The Democratic Party stemming from the pro-democracy activists has been on the power of Mongolia's presidency, parliament and government since 2012." Continue reading →

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How Fortunes Are Made In Frontier Markets: Interview With Harris Kupperman Part II

"Getting your boots muddy in a frontier market can be immensely profitable. That is, if you get to a boomtown before boom times, there’s plenty of money to be made. As we learned yesterday, there’s huge profit potential in Mongolia — home to the recently started, world-class Oyu Tolgoi copper mine. 'The way I’m thinking of playing this resource boom' says Harris Kupperman, CEO of Mongolia Growth Group (MNGGF) 'is through the consumer, and the best way to access the consumer is retail space on the main streets'. Today we’ll continue our talk with Harris. He’ll explain how his group could make 9-18 times their money in Mongolian real estate." Continue reading →

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Mining the Gobi: The Battle for Mongolia’s Resources

"The country, whose economy has been growing faster than almost any other, is almost entirely dependent on the export of raw materials. Mongolia has things everyone wants -- coal, copper, gold, uranium, rare earth minerals -- and that potential wealth is reflected in the high-ranking visitors it draws. Donald Rumsfeld has been to Ulan Bator, as have Angela Merkel and several Japanese prime ministers. Beijing especially is making an effort to reach out to its northern neighbor. This July the first flat-bed trucks set out from Oyu Tolgoi to China, each bearing 36 tons of a brown, cement-like powder, from which copper and gold would be extracted." Continue reading →

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India’s financial prophet Raghuram Rajan to run central bank

"Mr Rajan, a Chicago professor and former chief economist at the International Monetary Fund, clashed openly with US Federal Reserve officials and top policymakers in 2005 over the risk that derivative contracts would amplify any financial crisis once the cycle turned. He said the US had created incentives for destructive behaviour, effectively pushing homeowners and banks into risky ventures. He was called a 'Luddite' by none other than Larry Summers, former US Treasury Secretary and now front-runner to take over as Fed chairman. The two men may soon be direct counterparts. Mr Rajan’s warnings were borne out by events." Continue reading →

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Diamond Jeweler Turns Alleged Smuggler as India Gold Prices Rise

"In January, jeweler Vihari Sheth was publicizing a ritzy new line of diamond-encrusted designs. Last week, she was arrested at Mumbai airport with nearly $400,000 of gold jewelry in her underwear and on her person. The 27-year-old has a store in Singapore and is married to a director of Mumbai-based Siyaram Silk Mills Ltd (SIYA), a suit maker that is a household name in the country. Her arrest offers a glimpse into how even the wealthy may be joining small jewelers and organized gangs to skirt new government taxes on bullion imports that have made gold about 9 percent more expensive in Indian stores." Continue reading →

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Gold replaces narcotics as the most valued smuggled item in India

"The Bombay Bullion Association has stated that the tighter import curbs by the government have resulted in a huge gap between supply and demand for the precious metal. This huge gap is being partly filled by the illegal traffickers who buy the gold overseas at a cheaper rate and sells it to domestic jewelers or bullion agents by evading tax. Revenue authorities seized gold worth Rs 598 million during April-June quarter this fiscal, an increase of nearly 365% in comparison with the same quarter last year. Smuggled gold pours into the country mainly from Dubai, Bangkok and Singapore." Continue reading →

Continue ReadingGold replaces narcotics as the most valued smuggled item in India

Tons of radioactive water pouring out of crippled Fukushima nuclear plant

"Highly radioactive water from Japan’s crippled Fukushima nuclear plant is pouring out at a rate of 300 tons a day, officials said on Wednesday, as Prime Minister Shinzo Abe ordered the government to step in and help in the clean-up. Tepco only recently admitted water had leaked at all. The leak from the plant 220 km (130 miles) northeast of Tokyo is enough to fill an Olympic swimming pool in a week. The water is spilling into the Pacific Ocean, but it was not immediately clear how much of a threat it poses. As early as January this year, Tepco found fish contaminated with high levels of radiation inside a port at the plant." Continue reading →

Continue ReadingTons of radioactive water pouring out of crippled Fukushima nuclear plant