Minister of Finance S. Bayartsogt and Ms. Coralie Gevers, the new Country
Manager of the World Bank for Mongolia, signed today a USD30-million Financing
Agreement in support of the significant reforms that the Government has been
undertaking since it was hit by the

Established in the days of the transition to a market
economy, the State Property Committee (SPC) has outlived its utility in the
eyes of many who want it disbanded before it becomes totally irrelevant and an
anachronism. Others feel its role should change,

Singapore Medical Group
(SMG), the provider of specialist and general practitioner healthcare services
headquartered in Singapore, today announced its intention to establish a joint
venture for a flagship multi-disciplinary tertiary hospital in Ulaanbaatar,
Mongolia, with Chono Corporation.

The Memorandum of
Understanding (MoU) signed will leverage on

First Deputy Premier
N.Altankhuyag yesterday received Bulent Arinc, the visiting Deputy Premier of
Turkey. Arinc expressed his happiness to be in Mongolia and that the ancient
relationship between the two countries is being strengthened.
Their talks focused on mutual collaboration in economic, trade,

“Our leaders are getting richer and richer. But for us,
everything is getting more expensive,” 
says Altangerel, who works in a beauty salon in Ulaanbaatar. “A few
years ago a liter of milk was still MNT700 (USD0.53), but now I have to pay
twice

Capital
spending on the Oyu Tolgoi project is likely to be over USD5 billion, Peter
Nicholls, General Manager Commercial of Rio Tinto’s copper unit, said in a
presentation at the Mongolia Investment Summit in Hong Kong. The project has a
potential life of more

SouthGobi
Resources now expects to sell about 1.5 million tons of coal in the second half
of this year, after saying earlier it expected second half sales would be around
the 875,000 tons sold in the first six months. The company had warned

The
Mongol Bank and the Ministry of Finance have established a working group to
study the introduction of a savings insurance system to protect account holders
in banks. This will replace the present Government guarantee, and would also
reduce pressure on the budget.
Parliament

The Mongol Bank has
bought 1.7 tons of gold from mining companies until the end of September, less
than the 2.3 tons in the same period last year. Leaving Boroo Gold aside, the
other mining companies extracted two tons or 54% less gold

Members
of the Government and representatives of Ministries and Agencies were present
at yesterday’s meeting of the MPRP group in Parliament to answer questions or
clarify points. The meeting discussed several issues, including the work
implemented with MPs’ funds in their electoral districts. Lack