Economic Archives - Page 2 of 50 - News.MN

Ulaanbaatar City Bank merges with TDB

Ulaanbaatar City Bank has been merged with the Trade and Development Bank of Mongolia (TDB) with its entire active, passive assets and sectors. The Central Bank of Mongolia (aka Mongol Bank) gave approval of consolidation of two banks on 23

Mini LNG plant to supply fuel for Mongolia’s coal truck fleet

Mongolia coal seam gas pioneer Elixir Energy has signed its first offtake agreement with one of the country’s largest fuel retailers to build a small-scale liquified natural gas (LNG) plant to supply the large truck fleet hauling coal to China.

Supporting Mongolia’s employment in the wake of COVID-19

The World Bank’s Board of Executive Directors today approved a USD 20 million IDA credit facility for the Mongolia Emergency Support and Employment Support Project. The project will provide temporary relief to eligible workers and employers in response to the

Beijing-backed AIIB allocates USD 100 million to Mongolia

The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of USD 100 million to help Mongolia battle the coronavirus pandemic, the bank said on Friday.

The project, cofinanced by the Asian Development Bank, will support a government program covering

COVID-19 and Mongolia’s oil exports

Mineral-rich Mongolia’s first oil refinery is under construction in the southeastern province of Dornogovi, with an expected commissioning date for late 2022.

At present, all the oil which is extracted, is exported to China. In the first half of 2020, Mongolia

Mongolian Turgik rate falls by 2.7 percent against US Dollar

Due to the COVID-19 pandemic, developing countries have been economically very badly hit. Falling export revenue and capital outflows from emerging markets has reached an estimated USD 100 billion, this is compounded by falling rates of international currencies by 10-30

Mongolia halts uranium exploration in Dundgobi

Mongolia has halted uranium explorations in three soums (districts) of the Dundgobi Province after the Gurvansaikhan Company failed an inspection conducted by a working group from the Metropolitan Professional Inspection Department and nuclear and radiation experts. It was discovered that

Mongolia’s May coal exports recover to 2 million tonnes

Mongolia’s exports of coal for all applications in May doubled from April to nearly 2.2 million tonnes, despite being 40.9% lower on year, according to recent data from Mongolia’s Customs. As concerns about the COVID-19 pandemic eased in the country,