President
Ts.Elbegdorj has initiated a law on the budget to regulate the negative impacts
on fluctuations in commodity prices. In recent years this has led to lower
state revenues and this in turn has resulted in increasing budget deficits,
rise in inflation and imports,

Mongolia
sits atop billions of dollars of mineral wealth and its economy is poised to
grow rapidly,
but foreign investors are finding that geopolitics hangs heavy over business in
a nation caught between China and Russia, says a Reuters analysis.  Few companies are more

Prime Minister S.Batbold has promised representatives of
Buddhist monasteries and museums that the state will allocate money for
renovation work and proper preservation of religious manuscripts, monuments and
other items. An estimated MNT270 million is required urgently on the account.

MNT 80 million and

Thursday was the anniversary of the day according to the
lunar calendar when the Buddha was born, received enlightenment, and also
attained nirvana. President Ts.Elbegdorj attended the celebrations at
Gandantegchinlen, the main Buddhist Monastery in Ulaanbaatar. Among those who
attended the prayers there was

MIAT resumed its international operations with the 2.20
a.m. flight to Beijing on Friday. Earlier, prolonged negotiations had led to
all the 94 workers of the technical department agreeing to withdraw their
resignation letter and return to normal duties. This means the only

The Mongol Bank has reported that money supply (broad
money or M2) at the end of April rose to MNT 3163.0 billion, an increase of MNT
188.5 billion or 6.3 percent over March, and of MNT 821.1 billion or 35.1
percent over April

The Director of Macroeconomics at the National
Statistical Committee, B.Badamtsetseg, traces the 9.7 percent inflation to the
dzud that killed 8.1 million livestock and thus led meat price to rise 15
percent over the same period last year. The official saw “little relation”

G. Ankhbayar, Chairman of the Organizing Committee, has
said Discover Mongolia 2010 will offer international mining investors a
resourceful base to launch and expand businesses, establish new contacts, and
learn of the latest developments and make deals. After a year’s absence, the
founding members

The Mongol Bank has signed a Memorandum of Understanding
with Khan Bank and Trade and Development Bank on an integrated payment card
clearing system to come into effect on June 16. Golomt Bank is expected to join
the system by the end of

Erdene Resource Development Corp. has provided an update
on its principal projects in conjunction with the release of its first quarter
2010 financial results. The highlights mention that the Zuun Mod Molybdenum
Project optimization and modeling studies are under way; and so are
preparations