Noted economist N. Dishevel says the
failure of the Mongol Bank to contribute anything to the state budget in 2009
shows the flaws in its policy in relation to foreign currency reserves. “That
tax payers’ money was wasted in loss-making currency deals shows

Ambassador to Australia J.
Tserendorj has said Mongolia is looking for foreign investors to help it boost
domestic crude oil production tenfold in the next three years,. The increase in
crude production to 10 million barrels a year from 1 million in 2009

There was criticism of both the
Government and the Central Bank at a recent meeting of the Standing Committee
on the Budget when it discussed the status of foreign loans. When Finance
Minister S.Bayartsogt said serious talks on a USD30-billion loan from the
Chinese

The
Human Rights Sub-Committee met yesterday to discuss all the information it has
gathered on four specific aspects of human rights violations following the
violent incidents of July 1, 2008. The information came from its investigation
of 47 complaints from those arrested after the

The
President’s Office has sent a letter to S.Batdelger, Judge General of the
Supreme Court and also Director of the General Court Council. The letter seeks
an investigation into the details of the legal training and qualification of 13
judges appointed between 2001 and

The
Standing Committee on Legislation yesterday decided to submit to Parliament for
discussion a draft law on the status of foreign citizens. The draft calls for
improving the system of keeping tabs on foreign citizens, especially on what
they do while in Mongolia. MPs

The
Government has prepared some amendments to the law presently guaranteeing the
security of bank deposits. This follows reports that some banks have been
abusing the provisions of the guarantee to secure deposits on inflated promises,
and also to relax their internal risk control

China”s Inner
Mongolia Autonomous Region has secured its first ever deal to export breeding
pigs to Mongolia, with a shipment of 60 animals set for August. The supply
contract signed between Dexin Animal Breeding Co., Ltd., in Ordos City, and Zurgaan
Khoshuu, an animal

Prime Minister S.
Batbold has said in an interview with China”s English-language newspaper China
Daily that Premier Wen Jiabao”s recent visit to Mongolia contributed
significantly to bilateral relations and cooperation, especially in economic
and commercial ties. The high-level meeting mechanism played an important role
in

The International Organization for
Migration (IOM) is now in Ulaanbaatar making preparations to conduct a wide
ranging Emergency Displacement Assessment following the migration of thousands
of nomadic Mongolians to urban centers, mainly the capital, after they lost
most of their animals because of climatic