2,261 containers transported through railway
In aims of boosting freight transport between Mongolia and China, the two countries are jointly carrying out measures for railway transport.
Golomt Bank signs second multiple loan agreement with World Business Capital, Inc. and U.S. Int’l Development Finance Corp
On September 14, 2017, Golomt Bank signed an eight-year credit agreement with World Business Capital Inc. (WBC) under guarantee from the U.S. International Development Finance Corporation (DFC) as part of its commitment to developing SME businesses in Mongolia.
EBRD’s Trade Facilitation Programme names Khan Bank as Mongolia’s Most Active Issuing Bank
The European Bank for Reconstruction and Development’s (EBRD) Trade Facilitation Programme (TFP) recognizes its most successful partner banks every year. For the year 2020, Khan Bank was awarded the Most Active Issuing Bank in Mongolia 2020 for the 11th consecutive year.
Oyu Tolgoi announces 2021 second quarter performance results
Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company - a strategic partnership between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto, has released its latest performance scorecard, highlighting key performance metrics for the second quarter of 2021, providing an update on the underground development, and its ongoing COVID-19 mitigation measures.
MNT 3 trillion loaned as part of MNT 10 trillion Plan for Health Protection and Economic Recovery
At the Cabinet’s regular meeting on July 20, Minister of Finance B.Javkhlan gave a progress report on the ‘MNT 10 trillion Comprehensive Plan for Health Protection and Economic Recovery’.
Commemorative MNT 10 thousand note released
The Bank of Mongolia has released a MNT 10,000 banknote to commemorate the 100th anniversary of Mongolian Revolution of 1921.
National Development Agency signs MoU with Private Financing Advisory Network
he National Development Agency is exploring the possibility of introducing innovative public-private partnerships and internationally recognized financial mechanisms to ensure the implementation of projects and programs that will have a significant impact on post-pandemic economic recovery and development.
Package regulation of capital market adopted
The package regulation - including the revised version of the Regulation on Securities Registration, and the Regulation on Bond Registration - was adopted at Mongolia’s Financial Regulatory Commission’s regular meeting on 11 June, 2021.
Could improved railway connectivity to Russia be the answer to the Tianjin container crisis?
EuroChamber’s second webinar on “Logistics & Connectivity with Europe” was held on June 29. 2021. Now, a regular event, the webinar aimed to expose, analyse and provide potential solutions for challenges to trading with Europe.
Mongolian and Shanghai stock exchanges organize webinar on Mongolia’s capital market
In order to increase the participation of foreign investors into domestic market, Mongolian Stock Exchange (MSE) is taking a series of measures to promote the market, introduce international standards and to be included in international category.
Mortgage repayment deferral support to continue until end of year
The Parliament of Mongolia, at its plenary session dated June 29, extended the effective period of the Law on Prevention, Combat, and Reduction of Social and Economic Impacts of the COVID-19 until the end of December 31, 2021.
BoM purchases 2.3 tons of precious metal
In June, the Bank of Mongolia (BoM) purchased 2.3 tons of precious metal. Thus, total amount of precious metal purchase has reached 9.3 tons since the beginning of this year, showing a decrease of 1.5 tons compared to the same period of previous year.
PM L.Oyun-Erdene: Progress must be made in large-scale projects in adherence with infection prevention guidelines
On July 3, Prime Minister of Mongolia L.Oyun-Erdene became acquainted with the progress of the construction work being carried out for the oil refinery in Altanshiree soum, Dornogobi aimag.
Fuel price increases by MNT 300
On July 2, the price of AI-92 fuel was increased by MNT 300 per liter. The relevant authorities reported that the rising price of the oil in foreign markets has led to this increase in the country, which is relatively dependent on the international market.
Exporters of non-mining products to receive financial support
Mining products accounted for 95 percent of the Mongolia’s USD 7.6 billion worth of exports sold in 2020.
Securities registration related package procedure approved
The 11th regular meeting of the Financial Regulatory Commission (FRC) was held on 11 June to discuss and resolve a number of important issues related to the sector's policies and decisions, as well as the business activities of legal entities.
Golomt Bank submits its plan to be publicly traded
The Parliament of Mongolia adopted amendments to the Banking Law on January 29, 2021. According to the amendments and the “Temporary regulation on developing, implementing, reporting, and monitoring, a bank’s plans to restructure of the bank as publicly traded company and change its shareholding structure, and plans” for the implementation of its restructuring, must be submitted for review to the Bank of Mongolia and Financial Regulatory Commission by July 1, 2021.
Mongolian crypto exchange DAX now available for customers in 200+ countries
Mongolia’s Digital Assets Exchange (DAX.mn) goes international with its newest update as it opens itself to customers from other countries. In its newest version, DAX has added more trading options: Classic and Pro Trading. With the update, customers can HODL their ArdCoins (ARDX) on the exchange for 6 to 24 months to earn 2-8 percent APY and earn rebates for trading and reduce their premiums from 0.5 to 0.2 percent.
Mining governance in Mongolia improves slightly, but public disclosures, governance of state-owned enterprises require attention
Mining governance in Mongolia remains “satisfactory,” with marginal improvements since a previous assessment, according to the 2021 edition of the Resource Governance Index (RGI).
P.Khaliun: I believe the relations between two countries will soon reach strategic partnership
Mohammad Faisal Al-Mutairi: Transportation is the main problem in the expansion of Mongolia-Kuwait trade