Savings Bank, Mongolia’s fifth-largest lender, has been declared insolvent after affiliated companies defaulted on loans, and will be taken over by a state-owned competitor, the central bank said.State Bank will take over Savings Bank’s 503 branches starting today, Danjilaa Ganbat,
Despite the generally arid climate in Mongolia’s steppe, rain poses a significant threat to on Erdmiin Oyun High School. A multinational team of engineers and construction specialists are working to solve that problem during exercise Khaan Quest 2013 in Nalaikh,
S.Enkh-Amgalan has been appointed as the new President and Executive Director of SouthGobi Sands LLC (SGS), the subsidiary of SouthGobi Resources Ltd. The appointment was effective from 15th July 2013. SouthGobi is focused on exploration and development of its metallurgical
Mongolia’s popular music festival “Playtime” is returning this year for the 12th year in a row. Playtime 2013 will be hosted at Hotel Mongolia, or Mongol Shiltgeen, in Gachuurt village on 27th and 28th July. At the two day festival
According to a publication by Bloomberg Mongolia is ranked as the 4th most stressed country based on the stressfulness of the living environment. Nigeria came at the top of the table ranking as the most stressful country to live in
The Gobi-Altai aimag is internationally known for its endangered animals including the Mazaalai (gobi bear), snow leopard, ibex, argali sheep, saiga antelope and wild bactrian camel. During the aimag”s Citizen”s Representative”s Khural meeting earlier this month it was announced that
In association with the Embassy of the Republic of Korea in Mongolia, the Korean Trade-Investment Promotion Agency (KOTRA) is to launch its “KOTRA-Ulaanbaatar” Busness Centre in Ulaanbaatar on July 26th 2013.The new business centre is designed to strengthen economic cooperation
Statistics of the social and economic situation of Mongolia have been release for the first half of 2013 by the National Statistical Office of Mongolia. The report measures social, macroeconomic and economic indicators, providing figures on birth rate, youth mortality
While copper shipments have now started, the long-running dispute between the Mongolian government and Rio Tinto (LON:RIO) over the massive Oyu Tolgoi copper-gold mine continues to drag on.Mongolia owns 34% of Oyu Tolgoi located in the South Gobi desert and
The Dutch Government is reviewing double taxation treaties with developing countries to determine if they are unfair and should be renegotiated, State Secretary of Finance Minister Frans Weekers said.The decision to examine the treaties, some of which date back to
