attract more foreign investment

Although commodity prices are recovering, this will still not put the metals and mining industry in Mongolia back to where it was during the boom period. To plug the gap, local authorities are undertaking new reform measures to attract foreign investment into the area.

In May, the country decided to open up a wider mining exploration area, now covering over a fifth of its territory.

The country has also revoked a banking law that required foreign companies to channel all their sales revenues from investment projects through local banks.

Rio Tinto and others stand to benefit

Consequently, companies such as Rio Tinto (RIO) and Turquoise Hill (TRQ) have launched new exploration projects in the Asian (AAXJ) (VPL) nation for metals and mineral resources, beyond the pre-existing Oyu Tolgoi (OT)Appeals for calm amid parliament corruption row

UN and regional leaders appealed for calm as Liberia’s transitional parliament on Thursday took a firm stand against graft by electing a new speaker following a US $92,000 corruption scandal.

Former incumbent George Dweh, a key rebel fighter in Liberia’s recently-ended civil war, was suspended indefinitely on Monday along with his deputy and two other members of the house for spending government money without authorisation.

The money had been intended as resettlement allowances for members of the parliament, which was set up with representatives from Liberia's three former armed groups, political parties and civil society under a 2003 peace deal that ended 14 years of civil war.

But the corruption row whipped up fears of new unrest in the country, which is still struggling to