World Bank Group announces up to USD12 billion support for COVID-19 country response
As COVID-19 reaches more than 60 countries, the World Bank Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. This financing is designed to help member countries take effective action to respond to and, where possible, lessen the tragic impacts posed by the COVID-19 (coronavirus).
State Bank signs MoU to cooperate with Development Solutions NGO
Through ‘Development Solutions’ NGO, the United States Agency for International Development (USAID) is implementing many projects towards the improvement of SME’s access to credit.
Mongolia imported 541.5 thousand tons of gasoline in 2019
Mongolia imported 541.5 tons of gasoline in 2019, according to the statistics of Mongolian Customs General Authority.
Mongolian and Belarusian entrepreneurs to cooperate
President of Mongolian National Chamber of Commerce and Industry (MNCCI) O.Amartuvshin met with Deputy Chairman of Belarusian Chamber of Commerce and Industry (BelCCI) Sergei Nabeshko in Minsk, Belarus.
Gold purchase increases 10-fold
As of first two months of 2020, the Bank of Mongolia purchased total of 4.3 tons of gold, of which 952 kg of gold was purchased in February. The figure represents the increase of 856 kg compared with February, 2019 which was 96 kg.
MNT 44 billion disbursed for mortgage
In February 2020, mortgage loans worth MNT 44 billion were disbursed to 634 borrowers.
Old note of MNT 20 thousand started to be drawn back
By the order of the central bank governor, banknotes of MNT 20 thousand issued in 2006, started to be drawn back from circulation from March 1.
ADB to help modernize vegetable production, irrigation in Mongolia
Ulaanbaatar /MONTSAME/. The Asian Development Bank (ADB) has approved $40 million in loans to support the modernization of government-owned irrigation networks and vegetable production in Mongolia.
Shares of 'Ulsyn Ikh Delguur' and 'LendMN NBFI' increase in price
On February 28, 2020, 240,147 shares of 22 firms worth MNT 39,396,598 were traded. 5 companies’ shares increased in price and 17 companies' shares declined.
Coal and petroleum export to resume from March 15
At its regular meeting held today, the Cabinet adopted a resolution on supporting the economy of Mongolia in period of heightened state of readiness for prevention of coronavirus infection.
Export reached USD 459 million in January
Mongolia has engaged in trade with 103 countries and exported goods to 42 countries. The export decreased by 24.4 percent compared with January 2020.
30.9 million head of livestock expected to deliver offspring
There are over 70 million heads of livestock in the country as of today, of which 30.9 million are expected to deliver young animals, reported the Ministry of Food, Agriculture and Light Industry.
Minister Ch.Ulaan receives Australian Ambassador
On February 21, Minister of Food, Agriculture and Light Industry Ch.Ulaan received Ambassador Extraordinary and Plenipotentiary of the Commonwealth of Australia Dave Vosen.
Coal and petroleum export postponed until March 15
At its meeting on February 26, the State Emergency Commission resolved to put off coal and petroleum export until March 15, which was planned to commence from March 2.
Oyu Tolgoi to Proceed to International Arbitration on Tax Dispute
On February 20, Turquoise Hill Resources announced that Oyu Tolgoi LLC (Oyu Tolgoi) has been unable to reach a resolution of its previously-announced dispute with the Mongolian Tax Authority (MTA) with respect to the MTA’s tax assessment, and will be proceeding with the initiation of a formal international arbitration proceeding in accordance with the dispute resolution provisions within Chapter 14 of the Oyu Tolgoi Investment Agreement (Investment Agreement) entered into with the Government of Mongolia in 2009 and Chapter 8 of the Oyu Tolgoi Underground Mine Development and Financing Plan entered into with the Government of Mongolia in 2015.
MIAT cancels flights to Bangkok and Tokyo
Due to Covid-19 outbreak in China, MIAT Mongolian Airlines yesterday announced its cancellation of flights to/from Bangkok and Tokyo until March 29.
MIAT selects Sabre to drive ambitious growth plans for 2020 and beyond
Ulaanbaatar /MONTSAME/. Sabre Corporation, a leading travel technology provider based in Southlake, Texas, yesterday announced a new alliance with national carrier MIAT Mongolian Airlines.
Mining Minister meets Ambassador of China
Minister of Mining and Heavy Industry D.Sumiyabazar on February 18 met with Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Mongolia Chai Wenrui in connection with his recent appointment.
Parliament Speaker and Central Bank Governor meet with businesspeople
Ulaanbaatar /MONTSAME/. On February 18, Parliament Speaker G.Zandanshatar and Governor of the Bank of Mongolia B.Lkhagvasuren met with representatives of some domestic business companies to discuss about challenges arising due to suspension of schools and public activities and restrictions in border movement amid coronavirus outbreak in the world.
Moody's announces completion of a periodic review of ratings of Mongolia
Moody's conducts periodic reviews through portfolio reviews in which Moody's reassesses the appropriateness of each outstanding rating in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
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