Rio Tinto provides update on Oyu Tolgoi project
Ulaanbaatar /MONTSAME/ On March 16, Rio Tinto mining group issued a press release on the latest update of the Oyu Tolgoi project in Mongolia.
Sales of industrial production decreased by 25.8 percent
According to the preliminary results, in the first two months of 2020, the gross industrial output reached MNT 2.2 trillion, showing a decrease of MNT 360.7 billion (14.2%) from the same period of the previous year.
Total export decreased by USD 322.9 million compared to previous year
In the first two months of 2020, Mongolia traded with 114 countries from all over the world, and the total trade turnover reached USD 1.5 billion, of which USD 770.7 million were exports and USD 750.0 million were imports.
General government budget revenue decreased by 11.7 percent in February
In the first two months 2020, general government budget revenue amounted to MNT 1.5 trillion by preliminary results, MNT 1.4 trillion of which accounted for equilibrated revenue. For the general government budget revenue structure in the first two months of 2020, 93.5% was accumulated from equilibrated revenue.
Mongolia Mining 2020 expo postponed
Due to emergency situation regarding the first COVID-19 case in Mongolia, Mongolia Mining-2020, Mongolia’s largest international mining and oil expo, planned to take place between 8 – 10 April 2020 in Ulaanbaatar has been postponed.
Consumer Confidence Index decreased by 5.6 percent
Consumer Confidence Index towards the current economic state reached 49.7 percent, showing a decrease of 5.6 percent from the previous year.
The number of securities traded in February decreased by 85.4 percent
In the first two months of 2020, securities worth of MNT 6.2 billion were traded at the national stock market, which showed a decrease of MNT 29.2 billion (82.5%) compared to the same period year.
Loan repayments of individuals decreased by 14.3 percent
At the end of February 2020, the total amount of outstanding loan given to entities, enterprises and citizens amounted to MNT 17.3 trillion, decreased by MNT 729.2 billion (4.0%) from the previous month, while it was increased by MNT 108.6 billion (0.6%) from the same period of the previous year.
BoM purchases 4.9 tons of precious metal
As of March 11, 2020, the Bank of Mongolia (BoM) purchased 4.9 tons of precious metal in total.
Time deposit increases by MNT750.3 billion
At the end of February 2020, the national currency in circulation reached MNT 966.4 billion, increased by MNT 112.3 billion (13.1%) from the same period of the previous year.
BoM decreases its policy rate to 10 percent
At its regular meeting held today, the Bank of Mongolia (BoM) made a decision to reduce the policy rate by 1.0 percentage point to 10.0 percent.
Exports of mineral products drop by 22.5 percent
Revenue from exports of mineral products reached USD 639.7 million in the first two months of this year, showing a decrease of 22.5 percent from the same period of 2019.
MNT 21.4 billion granted for wheat incentives
Incentives worth MNT 21.4 billion have been granted to 747 entities and individuals who supplied 223 thousand tons of food wheat from the harvest of the last year.
Country has petroleum reserve for 40 days consumption
The first confirmed case of COVID-19 infection has been recorded in Mongolia today.
Reserve-meat to be sold through 279 sales points from today
Minister of Food, Agriculture and Light Industry Ch.Ulaan reports that reserve meat for consumption of Ulaanbaatar citizens will start to be sold from today through 279 sales points.
Khan Bank becomes the first bank in Mongolia to use the SWIFT gpi for international payments
SWIFT’s global payment innovation (SWIFT gpi), was first launched at the beginning of 2017 to become the new standard in global payments and has been adopted by around 4,000 financial institutions around the world, including 60 top global banking groups.
Meeting held to discuss economic difficulties caused by COVID-19 spread
The State Emergency Commission has made a decision to declare heightened state of readiness for prevention of COVID-19 infection.
New U.S.-Mongolia partnership to expand access of local businesses to financial services
Ulaanbaatar /MONTSAME/. The U.S. government, through the United States Agency for International Development (USAID), today formally launched a five-year, MNT 41.3 billion ($15 million) Business Excellence for Sustainability and Transparency (BEST) project to help grow and diversify Mongolia’s economy by increasing lending to small and medium enterprises (SMEs) and improving economic governance and accountability.
Coal export through Zamyn-Uud checkpoint resumed
Beginning March 4, heavy trucks loading coal started crossing the border through Zamyn-Uud border checkpoint after being fully decontaminated.
UNFAO implements early action emergency project for herders
Based on the Dzud risk map issued on 2nd of January by the Mongolia National Agency for Meteorology and Environmental Monitoring (NAMEM) the Food and Agriculture Organization of the United Nations in Mongolia (UNFAO) implemented “Early Action to protect the key livestock-related assets of vulnerable herder households in areas at very high dzud risk” SFER/GLO/005/MUL BABY09 project.
Mongol Ecology Center: Children tend to care more about the nature and environment than adults
L.Khangai: It shouldn’t be assumed that the construction for the pipeline going through Mongolia will begin in just a few days