Mongolia is to Employ Work Force from North Korea
At the submission of the Government of Mongolia, the Parliament ratified Mongolia-North Korea Inter-governmental Agreement on exchanging work forces on the 20th of July, 2007. According to the Agreement, Ministry of Social Welfare and Labor of Mongolia is to negotiate in the near future with Foreign Trade Ministry on realizing the agreement and exchange of [...]
New Central Library is to be Constructed
New central Library worth USD 20 million and met to-date requirements is to be built in front of U.S. Embassy. During the visit of the President of Mongolia N.Enhbayar to Kuwait, this money was promised to be contributed as aid by Kuwait Government to Mongolia. Director of the Library G.Akim says, “No major repairs were [...]
International Microfinance Conference is Held Successfully
Regular session XI of International Microfinance Center was held successfully between 29 and 31 on May in Ulaanbaatar. Over 500 delegates from 40 countries and representatives of Mongolian banks, international microfinance organizations, investors, experts and professionals attended the Conference, held under the auspice of the President of Mongolia, for three days. In framework of the [...]
Mongolian Businessmen Started to help Sichuan
As of May 21, 71 thousand people lost life and over 220 injured due to earthquake in Sichuan, China. Also material loss is estimated USD 20 billion. Over 14 thousand companies suffered loss of USD 9.5 billion and 1400 workers lost their life in Sichuan and neighbor provinces. Mongolian people didn’t sit back at this [...]
Statement by S.Bayar, Prime Minister of Mongolia at the Parliament Session
On current state, recent pitfalls, measures of solution on oil products
Dear Speaker and
Dear Parliamentarians,
Recently oil price went up dramatically at the world market.
As of January 2007, price of 1 barrel oil at NYSE was USD 52.84 whilst as of yesterday it reached USD 113.4, going up by USD 60.56. It results increase in domestic [...]
B.Enhhuyag: There Was No Way Other Than Folding Money Up
We got details from Mr. B.Enhhuyag, First Deputy Governor of the Mongolbank on why commercial banks halted mortgage lending.
How does Mongolbank’ raise of policy rate affect on the economy? Did commercial banks halt their mortgage lending because of it?
Mongolbank has increased its policy rate three times since last October. We conclude that lending growth, [...]
Currency Rate Has Truly Fallen Down
It is said that people bought much USD due to rumors related to currency rate fall-down. We got details from M.Badam, Director of “Suvargan Del” currency exchange.
With reference to rumor on fall down of currency rate, currency exchangers and people generated much USD on hand. Is it true?
There is no change to foreign currency [...]
Mr. A.Batsukh, Mongolbank Governor: It Is Clueless That Tugrug Rate Is to Fall Down
With reference to increase in commodity goods price, rumors related to fall-down of tugrug rate in the market and commercial banks would have no reserves have spread. Thus we shared views with Mr. A.Batsukh, Governor of Mongolbank.
It is said Mongolbank sent notices to commercial banks to stop lending because tugrug rate would fall down in [...]
