Economic Archives - Page 3 of 62 - News.MN

Chinese traders increasing coal imports from Mongolia

Chinese traders are importing more coal from neighboring countries such as Russia and Mongolia; this comes following the disruption caused by the pandemic and seismic shifts in the supply chain.
Last September, Mongolia replaced Australia as the top coking coal supplier

Growing Mongolian coal exports alarm dry bulk owners

Dry bulk owners are watching customs data out of Beijing closely to see where China is sourcing coal from to replace banned Australian products – the choice will have an enormous ramifications for the overall tonne-mile picture of the sector.

Mongolia ranked 41st in open budget survey

According to an open budget survey (OBS) conducted by the International Budget Partnership, Mongolia ranked 41st out of 117 countries with a transparency score of 56, Montsamereports.
Mongolia’s transparency score of 56 in the OBS 2019 is moderately higher than its

Mongolia’s foreign exchange reserves hit all time high

Mongolia’s foreign exchange reserves reached 4.5 billion U.S. dollars at the end of this year, hitting an all-time high.
The record was attributed to measures taken by the Bank of Mongolia to ensure the stability and adequacy of foreign exchange reserves

New fund for Mongolia’s children launched: instant response

Just before New Year’s Eve, the Mongolian Government passed a resolution on re-establishing the Children’s Fund and allocating 10 billion Mongolian Tugriks (3.5 million U.S. dollars) to kick-start it.
The fund, initiated by the Ministry of Culture, will be used for

Central Bank of Mongolia purchases 100 tonnes of gold

Mongolia’s central bank stated on Thursday that it has bought a total of 22 tons of valuable metals, mostly gold, since the start of 2020 from lawful entities and persons.
The Bank of Mongolia stated that this marks an upsurge of

Consumption of processed fuel soars amid lockdown in UB

As night-time temperatures are set to fall to -35 C in the next days, consumption of processed fuel has increased by 41 percent in Mongolia’s capital Ulaanbaatar in December compared with the same month last year.
This is because the

Oyu Tolgoi receives Tax Assessment from Mongolian Tax Authority

Turquoise Hill Resources on Thursdayannounced that Oyu Tolgoi LLC has received, and is evaluating, a Tax Act (“tax assessment”) for approximately US$228 million cash tax from the Mongolian Tax Authority (MTA) relating to an audit on taxes imposed and paid by Oyu Tolgoi