BoM purchases 1.7 tons of precious metal in August
In August 2020, the precious metal purchase of the Bank of Mongolia (BoM) was 1.7 tons, raising the BoM’s total precious metal purchase of 2020 to 14.8 tons, of which 13.1 tons were gold and 1.7 tons were silver.
Parliament passes amendments to 2020 State Budget
At its session held on August 28, the Parliament approved draft amendments to the law on State Budget 2020 and other accompanying laws as well as bills on 2019 budget performance, 2021 budget framework statement and budget assumption for 2022-2023.
Foreign Minister meets President of Mongolian National Chamber of Commerce and Industry
Minister of Foreign Affairs N.Enkhtaivan received President of the Mongolian National Chamber of Commerce and Industry (MNCCI) O.Amartuvshin on August 28.
Mongolia’s coal exports to China growing amid COVID-19
A total of 40 million tons of coal had been projected to export to abroad this year, however, due to the ongoing COVID-19 pandemic, Mongolia has exported only around 13 million tons of coal currently. Another statistic shows that Mongolia is experiencing a decrease of 46 percent in the coal exports in the first seven months of 2020 compared to the same period of previous year.
Total FDI in 2010-2019 reaches MNT 37.2 trillion
The National Statistics Office has recently released the latest edition of the ‘Economic Security’ survey.
Government to focus attention on sustainable investment environment of private sector
On August 25, some members of the Cabinet and Ministers headed by Deputy Prime Minister Ya.Sodbaatar and Chief of the Cabinet Secretariat of the Government L.Oyun-Erdene held a meeting with business delegation at the Mongolian National Chamber of Commerce and Industry (MNCCI).
Domestic need of wheat and potato to be fully secured
At an irregular Cabinet meeting today, August 25, Minister of Food, Agriculture and Light Industry, reported on the preliminary harvesting balance of 2020.
D.Gerelmaa: Adverse economic impact of the pandemic will last for 2-3 years
Initiated by the United Nations Resident Coordinator's Office in Mongolia, a large-scale survey on COVID-19 impacts on Socio-Economic Situation in Mongolia has been conducted in partnership with the UN, its systemic organizations and other international organizations.
Global investment firm Cerberus acquires stake in certain MCS Group companies
On August 24, MCS Group issued a press release on its website, announcing that an affiliate of Cerberus Capital Management, L.P. has acquired approximately 20% indirect ownership or notes convertible into equity of seven MCS Group companies operating in the telecommunications and consumer goods sectors.
Licenses granted to fintech companies
On August 21, the Bank of Mongolia granted the license of payment service to Fintech companies that qualified requirements stated in the Law on National Payment System.
Railway transport up by 1.3 million tons
In the first seven months of 2020, 16.9 million tons of freight was transported by railway. Compared to the same period of previous year, the carried freight increased by 8.6 percent or 1.3 million tons.
Mongolian Information and Trade Promotion Center of Europe established in Berlin
Mongolian Information and Trade Promotion Center of Europe (MITPC) was opened in Berlin.
Government to render all-round support to oil refinery project
Prime Minister U.Khurelsukh visited “Mongolian Oil Refinery” state-owned company today, August 19.
Discussion held on amendments to securities market regulations
The Financial Regulatory Commission (FRC) seeks to strengthen the securities market policies and regulations; in line with international standards, for investors’ and professionals’ needs, to broaden collaboration with international organizations and to develop advanced technologies and market infrastructure.
Mining Minister works at Erdenet Mining Corporation
During the past weekend, Minister of Mining and cabinet member G.Yondon, Deputy Chair of Cabinet Secretariat B.Enkh-Amgalan along with corresponding officials worked at the Erdenet Mining Corporation, state-owned ore mining and ore processing factory operating in Orkhon aimag.
Sales of mining output drop by 33.2 percent
According to the preliminary results, the gross industrial output reached MNT 8.2 trillion in the first seven months of 2020, decreased by MNT 2.0 trillion (19.3%) from the same period of the previous year.
Total outstanding loans of NBFIs reach MNT 1.3 trillion
According to the Financial Regulatory Commission (FRC), the total outstanding loan balance of non-bank financial institutions increased by 19.2 percent compared to the previous year, reaching MNT 1.3 trillion.
'Ulaanbaatar Partnership-2020' autumn trade fair approaching
The annual “Ulaanbaatar Partnership-2020” international autumn trade fair is to be held on September 24-27 at Misheel Expo Center.
Oyu Tolgoi announces Q2 2020 performance results
Oyu Tolgoi released the latest edition of its Scorecard, highlighting key performance metrics for the second quarter of 2020, and provided an update on underground development, and its continued prevention measures on COVID-19.
Equilibrated balance shows deficit of MNT 2.5 trillion
According to the preliminary results in the first seven months of 2020, the total revenue of the general government budget was MNT 5.3 trillion. The equilibrated revenue of the general government budget was MNT 4.9 trillion and 93.1% of the total revenue of the general government budget.
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