Economic Archives - News.MN

Mongolia benefits from conflict between China and Australia

China’s coking coal imports fell to a five-month low in October, hit by slowing Australian arrivals following an unofficial ban on coal imports from the country that was imposed in early October.
China imported 5.89 million tonnes of coking coal in

Half a million Mongolians face losing jobs if lockdown continues

Most employees are working from home after Mongolia issued a second decree emergency situation and imposed a travel ban, which has left thousands of Mongolians stranded – in Ulaanbaatar people are banned from leaving home apart from buying necessary provisions. However, 13

EU and Mongolia take stock on trade and investment relations

The European Union and Mongolia have been taking stock of their good trade relations, and looking at opportunities to further strengthen their bilateral trade and investment cooperation agenda.
The platform for this discussion was the third annual sub-committee on trade and

Odey accuses Rio Tinto of destroying value over Mongolian mine

Odey Asset Management has accused Rio Tinto of destroying value through lack of action over problems at Turquoise Hill, through which Rio Tinto owns a giant copper mine in Mongolia.

Turqoise Hill, listed in Canada, owns two-thirds of the Oyu Tolgoi mine with the rest

Fitch forecasts Mongolia’s economic growth at 8 percent in 2021

Fitch reports that the volume of coronavirus-related restructured loans is likely to delay further the resolution of asset-quality issues of Mongolia’s banks. As of September 2020, an estimated 22% of the system’s total loans- or MNT 3.8 trillion in loans

Mongolia cuts policy rates by 2 percent

The Monetary Policy Council of the Central Bank of Mongolia held an emergency meeting earlier today (23 November) regarding economic measures announced by Cabinet last week. The Mongol Bank decided to cut its policy rates by 2 percent to 6

Mongolia’s GDP down by 7.3 percent

Mongolia’s gross domestic product (GDP) decreased by 7.3 percent year-on-year in the first three quarters of this year, local media reported on Thursday, citing the country’s National Statistics Office (NSO).
The country’s GDP dropped to 26.4 trillion Mongolian tugriks (over 9.2

Mongolia increases monthly child allowances amid pandemic

On Wednesday (18 November), the Mongolian government increased the monthly allowance for children under 18 until the first half of next year due to the COVID-19 pandemic.
The measure, originally scheduled to be implemented from April to the end of this