Economic Archives - Page 6 of 46 - News.MN

Central Bank of Mongolia offers repayment lifeline

The Monetary Policy Committee of the Central Bank of Mongolia  decided today (13 April) to cut its policy rates by one percentage point to 9 percent. In addition, the bank will postpone loan repayments for borrowers facing difficulties due to

EU and World Bank support Mongolia’s efforts against COVID-19

The European Union and the World Bank have decided to reprioritise the use of EUR 680,000 within the Strengthening Governance in Mongolia Project, funded by the European Union, to support the Government’s efforts to respond to the COVID-19 (coronavirus) emergency

Over 600 flights suspended in Mongolia

Global airlines stand to lose USD 252 billion in sales and 38 percent of transportation in 2020 as the coronavirus continues to spread, according to the International Air Transport Association.

Mongolia is not exempt as civil air transportation suffers financial instability

Coal briquette plant to be built in Tuv Province

Earlier today (9 April), the Tavan Tolgoi Fuel Company started construction of a new coal briquette plant. The new facility is in Tuv Province, which is close to the capital, Ulaanbaatar. The new plant with an annual production capacity of

Rio Tinto pays taxes worth of USD 305 million to Mongolia

Rio Tinto paid $7.6 billion in taxes and royalties globally in 2019, including $4.8 billion of corporate tax, as detailed in its latest taxes paid report published today (April 8).

The majority of its taxes were paid in Australia ($6.2 billion),

Small Mongolian banks record huge losses

The Research Centre for Economic Policy and Competitiveness has issued reviews conducted on banks operating in Mongolia. There currently are 13 commercial banks in the country. According to the Central Bank of Mongolia, the most influential banks are the ‘big

ADB: Mongolia’s economic growth to drop to 2.1 percent

Mongolia’s economic growth is expected to decline sharply in 2020 due to the COVID-19 pandemic but rebound in 2021 as the outbreak subsides, according to a report released Friday by the Asian Development Bank (ADB).

In its Asian Development Outlook 2020,

Rio Tinto faces fresh investor revolt over Mongolia mine

Rio Tinto is facing the latest revolt from investors in its huge copper and gold deposit in Mongolia’s Gobi Desert.

Pentwater Capital, the US hedge fund, is seeking the appointment of a new independent director to represent the interests of minority shareholders