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
City Mayor G.Munkhbayar has ordered the commission
responsible for preparing for the winter to intensify their work. He stressed the
importance of working responsibly and said people will have to answer for
failures and mistakes in execution. He criticized the way some repairing
Inaugurating the first forum of Mongolians
living and studying abroad Prime Minister S.Batbold on Monday said, “We
Mongolians now have to decide how we use the future. We stand at the threshold
of great opportunities and also bear the responsibility to lead the
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