Economic Archives - Page 2 of 10 - News.MN

Tuesday

2018/12/17

Dollar (USD)

2533.95

Ulaanbaatar

+19°C

Temperatures plummet and UB electricity demand soars

 

Last night, the outside temperature fell to -30 C in central Ulaanbaatar and a numbing -34-36 in the Yarmag and Songino suburbs. According to the Mongolian Met.Office, the daytime temperature was -24 C on Thursday (6 December). This early cold

Railway construction begins to Mongolia’s first oil refinery

Construction of railway to Mongolia’s first oil refinery began earlier today (5 December). The 1.5 km long first phrase of the railway is being implemented by Ulaanbaatar Railway JSC.

Mongolia launched construction of its first oil refinery in June, a long-awaited

Mongolian power plant using solar panels

Mongolia has rich renewable energy reserves. On average, the country has 270-300 sunny days annually, so it is only logical that the focus has been on constructing solar power plants in provinces.

Recently, provincial power plants have begun using solar panels

Mongolia’s imports from Taiwan increasing

The total value of Mongolia’s imports from Taiwan reached USD 8.1 million in the first nine months of 2018, which is 1.7 times more than the same period in 2017. This is the best recorded performance since Taiwan’s Trade Mission

Discussion of 2019 Ulaanbaatar City Budget delayed

An important meeting of Citizens’ Representative Khural (Council) has been delayed for several hours because more than half the members have not turned up! Top on today’s agenda is discussion of 2019 Ulaanbaatar City Budget. Only seven of the 46

Mongolia increases daily limit of online transactions

The National Electronic Transaction Centre (NETC) of the Bank of Mongolia has raised the daily limit for online transactions to MNT 3 million. Previously, online transactions were limited to MNT 1 million.

It is now possible to make payments for up

Mongolia increase interest rates to 11 percent

Earlier today, the Mongolian Central Bank announced that its policy interest rate has been increased to 11 percent. Previously, the bank cut the policy rate to 10 percent in September, 2018.

The surprise move is Mongolia’s second rate cut in three