Economic Archives - Page 3 of 46 - News.MN

Mongolia approves USD 284 million for Covid-19 relief packages

Earlier today (6 May), the Mongolian Cabinet approved MNT 793 billion (USD 284 million) Covid-19 relief packages for supporting target groups such as children and elderly. The government also decided to raise monthly allowances for children to MNT 100 thousand

ADB to help Mongolia modernize irrigation systems

The Asian Development Bank (ADB) and the Mongolian government on Tuesday (4 May) signed a loan pact worth 40 million U.S. dollars, and a Japan Fund for Poverty Reduction (JFPR) grant worth 2 million U.S. dollars, to help modernize government-owned

Defeating Covid-19: Oyu Tolgoi donates over USD 163,000

Mongolian mining giant Oyu Tolgoi has released the latest edition of its Scorecard, highlighting key performance metrics for the first quarter of 2020, and provided an update on underground development, and prevention measures for Covid-19.

The company and employees have donated

TerraCom moves to exit Mongolia

Australian mining company TerraCom has moved ahead with its plans to exit Mongolia, inking a binding term sheet to divest of its Baruun Noyon Uul (BNU) coal mine for $2.

Under the terms of the agreement, Singapore-based buyer Bridge Resources will

Mongolia’s gold purchase surges amid coronavirus lockdown

The Central Bank of Mongolia or Mongol Bank purchased 1.4 tonnes of precious metals from individuals and enterprises in April. The Bank’s purchase has reached 6.7 tonnes of precious metals; 5.0 tonnes being of gold since 1 January. This represents

Coronavirus devastates Mongolian ‘deel’ producers

When the coronavirus struck neighboring China, Mongolia was preparing for the February Lunar New Year, its biggest holiday of the year. It is a time when everyone puts on their very best traditional winter ‘deels’ as the national tunic is

Overdue loans rise by 6.7 percent in Mongolia

The level of overdue loans and owed interest in the Mongolian banking system rose by MNT 120 billion to 6.7 percent of the total loan portfolio in the first quarter of 2020. The large sum of the outstanding loan stock