Economics

  • ’Aspire Mining’ to advance Mongolian coal railway

    Өчигдөр 17 цаг 35 минут
    ’Aspire Mining’ has signed a memorandum of understanding with a Mongolian and Russian government joint venture to progress the commercialisation of the Erdenet to Ovoot Railway.
  • IMF Bailout

    Өчигдөр 17 цаг 15 минут
    Mongolia has reached an initial agreement with the International Monetary Fund (IMF) for a three-year programme that includes a $440 million loan package as part of a $5.5 billion bailout to help the north Asian country with looming debt repayments.
  • ‘Ulaanbaatar Railway-2030’ forum

    2017 оны 2 сарын 16
    The ‘Ulaanbaatar Railway-2030’ forum will be held at the Blue Sky Hotel on 17th-18th of February and is being organised by the Ulaanbaatar Railway Mongolian-Russian joint venture.
  • Ulaanbaatar Investment Summit-2017

    2017 оны 2 сарын 13
    The Ulaanbaatar Investment Summit-2017 will be held on 20th of February. The business forum is being organised by the Ulaanbaatar City Administration in cooperation with the Ulaanbaatar Chamber of Commerce.
  • ‘Erdenes Mongol’ LLC and ’MAK’ form joint company

    2017 оны 2 сарын 13
    State-owned  ’Erdenes Mongol’ LLC and the ’Mongolyn Alt Corporation’ (MAK) have established a joint company named “Erdenes Ashid”. The new venture, which came into being with the signing an agreement on 13th of February, will focus on geological exploration.
  • IMF demands Mongolia to cut budget

    2017 оны 2 сарын 10
    The ‘Rescue team’ from the International Monetary Fund (IMF) arrived in Mongolia last week for its second visit and has carried out discussions on the government bailout programme with officials.
  • Increase in petrol price - ’illegal’

    2017 оны 2 сарын 8
    Since Sunday, the price of petrol price has increased by MNT100-150 per litre at some stations belonging to Shunkhlai LLC, Magnai LLC, Petrostar LLC and NIC LLC.
  • Construction of Baganuur power plant commences

    2017 оны 2 сарын 6
    In 2015, Ch.Saikhanbileg, former Prime Minister of Mongolia signed a memorandum of understanding with China to build a new power plant in the Baganuur district.
  • Mongolia to cooperate with Russia on livestock health

    2017 оны 2 сарын 6
    On 3rd of February, P.Sergelen, Minister of Food, Agriculture and Light Industrial had a meeting with Russian Ambassador Iskander K.Azizov.
  • Mongolians receive MNT 33.8 billion VAT refund

    2017 оны 2 сарын 6
    Following the new amendments to the Law on Value Added Tax, for the first time, 461,865 individual VAT payers have received a reimbursement of up to 20 percent, totalling MNT33.8 billion.
  • ”Goodbye volatility, hello steady growth,” says Mongolia’s finance chief

    2017 оны 2 сарын 3
    Mongolia is promoting macroeconomic policies aimed at producing years of stable annual growth of 6-8%, Finance Minister Choijilsuren Battogtokh told the Nikkei Asian Review.
  • Mongolia to pay back CHALCO debt by April

    2017 оны 2 сарын 2
    Mongolia has been paying off its USD 350 million debt to the Chinese aluminum company (CHALCO) in the form of all its deliveries of coal from the East Tsankhi section of the Tavan Tolgoi deposit.
  • Mongolia hopes to receive IMF bailout this month

    2017 оны 2 сарын 2
    At the end of last year, representatives of the International Monetary Fund (IMF) visited the Mongolian capital, Ulaanbaatar, to evaluate the state of the economy and conduct meetings with the government.
  • Mongolia to pay its bond debt on time

    2017 оны 2 сарын 1
    Mongolia faces hefty debt repayments beginning in March, when payback time for a $580 million bond issued by the Development Bank of Mongolia comes around.
  • Mongolian Tugrik firmly rising against the US Dollar

    2017 оны 2 сарын 1
    he Mongolian Tugrik is, day by day, is firmly rising against the US dollar. Today, (1st of February) at the ‘Naiman Sharga’ currency exchange, the Mongolian tugrik stood at MNT 2455 against the US dollar.
  • Mongolian and Kazakhstan Railways to cooperate

    2017 оны 1 сарын 31
    A memorandum of cooperation was signed on Monday 30th of January by D.Jigjidnyamaa, director of the Ulaanbaatar Railway Joint Venture Company and Mr K.K.Alpysbayev, president of Kazakhstan Railways (Kazakhstan Temir Zholy or KTZ).
  • Belarus to share advanced agricultural technology with Mongolia

    2017 оны 1 сарын 30
    Belarus is ready to cooperate with Mongolia in the field of advanced technologies in the production and processing of agricultural products, Belarusian Ambassador to the country Stanislav Chepurnov said in an interview with the Mongolia News newspaper.
  • A Mongolian first: Rolling Mill opens in Darkhan

    2017 оны 1 сарын 30
    Mongolia’s first ever skew rolling mill has opened at the Darkhan Metallurgical Plant (DMP). It will help to halt the USD 60 million currency out flow from Mongolia. The plant is the result of a range of projects initiated by the previous Democratic Party led parliament to increase export production and replace imports.
  • Mongolian tugrik rising against the USD

    2017 оны 1 сарын 26
    Today, (26th of January) at the ‘Naiman Sharga’ currency exchange the Mongolian tugrik stood at MNT 2460 against the US dollar. The tugrik has risen by MNT22 against the US dollar from MNT2482 over the last two days.
  • Mongolian tugrik rate recovers against USD

    2017 оны 1 сарын 24
    Today, (24th of January) at the ‘Naiman Sharga’ currency exchange the Mongolian tugrik stood at MNT 2484 against the US dollar. At commercial banks, the tugrik has risen to 2495-2500 against the US dollar.
  • A sunny future: Mongolia’s renewable energy target

    2017 оны 1 сарын 23
    Mongolia has been named a ‘solar energy paradise’; however, despite the bright sunny days, the country produces only 2-3% of its energy needs from renewable resources.
/*