28 Apr 2011

The IMF and the Mongol Bank Disagree on Recent Movements Within the Real Inflation Rates of Mongolia

The IMF and the Mongol Bank disagree on recent movements within the real inflation rates of Mongolia. At the start of the year, inflation was officially 13% nationally and 14.8% in Ulaanbaatar. Recent movements in the inflation rates have seen it decrease to 8% nationally and 7.5% in Ulaanbaatar. The Mongol Bank (Central Bank of Mongolia) is following strict orders ...
27 Apr 2011
Rags To Riches in Mongolia

Rags To Riches in Mongolia

About half of Mongolia's population still live in tents known as yurts, and make their living from herding animals. But this land# # LOCKed nation's fabulous reserves of gold and copper mean it is on the brink of transformation, from one of the world's poorest countries to among the richest. There are not too many capital cities where you can ...
20 Apr 2011

Mongolia Halts Coal Exports to China-Mining Club

BEIJING, April 20 (Reuters) - The government of Mongolia has halted truck shipments of coal from the South Gobi region to China, with the ban expected to last around two days, Baasanjav Enkhbaatar, the chairman of the Mongolian Mining Club, confirmed on Wednesday. The South Gobi region is the location of the Tavan Tolgoi property, one of the world's biggest ...
03 Apr 2011
OyuTolgoi LLC to Grant USD 1 Million as SME Loan in Umnugobi

OyuTolgoi LLC to Grant USD 1 Million as SME Loan in Umnugobi

Oyutolgoi LLC will grant an amount equivalent to USD1 million as loan to small and medium enterprises of Umnugobi aimag through XacBank. It estimates 50,000 citizens will borrow up to MNT30 million at 1% monthly interest. Their businesses could also supply goods and services to Oyutolgoi LLC. The cooperation between the company and the bank is expected to increase domestic production, ...
21 Mar 2011

Plans to Lift Restrictions on Insurance Companies

Private insurance came to Mongolia in earnest in 2004 and now there are 17 insurance companies doing good business in the country. One of these deals with life insurance policies and the others offer insurance cover in other areas. Their total capital is MNT56 billion and the premiums they receive annually amount to MNT32 billion. Payout in a year is ...
16 Mar 2011

Enebish B: Banks Started Their Work for Erdenes Tavantolgoi IPO

Couple of weeks ago 4 banks were selected by Selection committee for “Erdenes Tavan Tolgoi” IPO. Deutsche Bank (German) and Goldman Sachs (USA) are selected for IPO and BNP Paribas (France) and Macquarie Bank (Australia) will involve in the sales and brokerage activities. However, lots of rumor was going around Deutsche Bank and Goldman Sachs. We interviewed Mr.Enebish, Executive Director ...
10 Mar 2011
What if the Wolf Snarls? Mongolia's Macro-Economic Risks

What if the Wolf Snarls? Mongolia's Macro-Economic Risks

Emerging economies all have risks. But what about virtually unknown Mongolia, whose GDP is set to grow at 30 percent a year by 2013? Op-Ed Commentary: Chris Devonshire-Ellis ULAAN BAATAR, Mar. 7 – Attending the Mongolian Economic Forum last week was not just a welcome occasional foray into an interesting, yet relatively small and obscure Asian country, it was an insight into two ...
21 Feb 2011

Tenger Financial Group Recieves 3.0 Billion USD Loans from Incofin

January, 2011 Ulaanbaatar, Mongolia. TenGer Financial Group LLC (TenGer), a leading financial group of Mongolia offering inclusive financial services, is pleased to announce that it has received direct loans from CPP-Incofin CVSO and Volksvermogen NV, Belgium based fund management companies, in the total amount of USD 3.0 million. The loans are the first direct loans made to TenGer and will ...
17 Feb 2011

Bankers Fight Over Mongolia Coal IPO, Reuters

Denny Thomas and Terril Yue Jones, Reuters · Wednesday, Feb. 16, 2011. HONG KONG/BEIJING — More than 150 bankers have descended into a Monglian deep freeze to battle for a piece of country’s upcoming coal IPO — the world’s largest untapped coking deposit which could have offering price of up to US$5-billion. Bankers from a dozen Wall Street, European and Asia-Pacific ...
02 Feb 2011
Forbes Ranks Mongolia #68 on Best Countries to do Business, Forbes

Forbes Ranks Mongolia #68 on Best Countries to do Business, Forbes

Forbes ranks Mongolia 68th out of 129 countries, having moved up one place from 2009. “Investor Protection” has improved while Trade Freedom, Monetary freedom and innovation have declined.     Rankvs. 2009 Trade Freedom 72 Monetary Freedom 102 Property Rights NA Innovation 115 Technology 102 Rank-Previous Year 69 Red Tape 60 GDP Growth -1.0% Investor Protection 26 GDP/Capita $3,100 Corruption 95 ...