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Initiators of good laws to get MNT 20 million

A move is afoot to award MNT 20 million to the initiator of each “successful” law, possibly meaning one that is approved without much dissent. This means people will be paid extra for doing what they are paid to do.

No signs of end to recession

Figures released by the National Statistics Bureau make it unlikely that Mongolia will come out of the recession any time soon. 
The number of births in January reached 6,127, 729 or 13.5 percent more than in January last year, while

IMF likely to release another USD24 million soon

The International Monetary Fund has said it expects the Mongolian economy to rebound sharply this year thanks to the Oyu Tolgoi project, while inflation should remain under control. The IMF said in a statement after a visit to Mongolia that

Young Mongolians caught carrying drugs

The central laboratory of the General Customs Authority has revealed that samples seized from a passenger traveling by the UB-Erlian train were of a kind of morphine. The head of the laboratory, N.Tsolmon, said the narcotic is banned under the

Economic forum a success

The Mongolia Economic Forum, inaugurated by President Ts.Elbegdorj on Monday and marked by a presentation from Hernando De Soto, ended yesterday, after discussing budgetary reform, development of the mining sector, problems facing the environment, adoption of a green economy, reforms

Uranium price expected to remain steady for two years

The spot price of uranium was likely to remain steady for the next two years, averaging between USD40/lb and USD60/lb, according to an analyst. TradeTech CE Gene Clark has said uranium spot price enjoyed a strong rally between 2003 and

Copper price could rise to USD8,000 per ton in coming months

UK-based Barclays Capital is bullish on the copper outlook for 2010, expecting the commodity”s price to increase to USD8,000/ton in the first half of the year. Its research team forecasts that copper prices will increase to record highs in the

Mongolia to sell USD bonds after October

Finance Minister S. Bayartsogt has told Bloomberg that Mongolia plans to sell as much as USD1.2 billion of bonds overseas later this year in what would be its first sale of dollar-denominated debt, to fund infrastructure supporting its mining industry.

Asashoryu’s retirement ceremony on October 3

The formal ceremony to mark yokozuna Asashoryu’s retirement from sumo will take place on October 3. The 68th yokozuna, who has won 25 titles, will step into the sumo arena for the last time on that day. Fellow Mongolians yokozuna

IMF and World Bank representatives call on Speaker

Parliament Speaker D.Demberel last week discussed the 4th stage of the “Stand-by” program Mongolia is jointly implementing with the IMF, with Steven Barnett, Permanent Representative of the Fund here, and Rogier van den Brink, a senior economist of the World