At a meeting with visiting U.S. Deputy
Secretary of State of James B. Steinberg on Monday. Increases the bookmark
Prime
Minister S. Batbold said Mongolia-U.S. relations are getting stronger and the
two countries have made progress in social, political and economic sectors. He
appreciated the
Khan Bank CEO Peter
Morrow is to go back to the USA soon, on expiry of his contract in July. It is
reported that another American, Simon Morris, will replace him. Morris has long
experience of banking. He is likely to meet the
The Government has
approved the Bee Hive Program suggested by participants at the meeting in
Ulaanbaatar of Mongolians living and studying abroad, organized under the aegis
of Prime Minister S.Batbold. The program will provide detailed and up-to-date information
to those who wish to come
The government
yesterday reviewed the preparatory work so far for establishing the Sainshand industrial
complex and asked Ch.Khurelbaatar, Head of the Cabinet Secretariat, to suitably
amend the related laws and resolutions so that further progress is possible. He
was asked to create conditions so
At a special meeting
yesterday the Government took the formal decision to set up a development bank
and also adopted a set of directive principles that would govern its work. The Head
of the National Committee of Development and Reform, Ch.Khashchuluun, and the
G. Batsukh, chairman of the Oyu Tolgoi LLC executive
board, has said in an interview that he is well ware of “the high expectation
Mongolians have from him as also of the trust they repose in him”. He will try
his best to
Coal producer Peabody Energy Corp. has joined forces with
Winsway Coking Coal Holdings Ltd. to form a Mongolian joint venture. The
collaboration, Peabody-Winsway Resources, was formed after Winsway acquired a
50% interest in the joint venture from Polo Resources. Winsway is the largest
off-taker
The National Life Insurance LLC (NLIC) of Mongolia has
signed an MoU with two Mongolian entities, Golomt Bank, and Bodi Daatgal, a
general insurance company, and with Sun Reinsurance Brokers of UAE. The goal is
to introduce a distribution model in Mongolia that
Khan Bank, the largest commercial bank in Mongolia, and
South Korea’s state-owned Export Import (EXIM) Bank have signed a loan
agreement to support export and import trade financing in Mongolia. EXIM now
offers USD10 million credit facilities to Khan Bank so that it
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