Bloomberg Media Group announced on Monday that it will open a bureau in Ulaanbaatar and start a Mongolian language television service. Bloomberg TV Mongolia is a joint venture between Bloomberg and the Trade and Development Bank of Mongolia (TDB), the oldest and one of the largest banks in the country. Bloomberg TV Mongolia is scheduled to launch in March 2012.

“Bloomberg TV Mongolia is the first business and financial news network targeted at this rising new market in Asia,” said Gary Groenheim, commercial director of Bloomberg Television, Asia-Pacific. “We”re pleased to partner with TDB to offer the local population better access to international business news, as well as serve business travelers as Mongolia continues to play a greater role in global trade and exports to China.”

TDB President Randolph Koppa said, “Mongolia is a booming and developing economy. Bloomberg TV Mongolia will target the political decision makers and business leaders of Mongolia with essential and accurate news, data and analytics. As all Mongolians now own shares in the Tavan Tolgoi Mining Project, the channel will be a valuable new education source.”