Rosneft donates EUR 8 million to Mongolia www.news.mn

Chief of Staff to the President of Mongolia Z.Enkhbold has met with a high-level delegation from Russia’s Rosneft Public JSC, including First Vice-President Pavel Fedorov, Vice-President Otabek Karimov, Vice- President Yuri Kalinin, and Chief Geologist Andrey Lazeev. The meeting took place on 2 October.

EU to support registration of Mongolian honey and sea buckthorn www.news.mn

Whether Parma ham, champagne or cognac, top European food brands and agricultural products are promoted and protected by three geographical indications and trade specialties.

U-scooter service to be launched in Ulaanbaatar www.news.mn

Just like Ubike, a new scooter sharing service will be launched in Ulaanbaatar, the capital city of Mongolia. The 100 percent electronic U-scooter service will begin from May next year.

Tencent Music aims to raise $1 billion by going public in the US www.cnn.com

Tencent Music has filed plans to go public in the United States in what could be one of the biggest recent US IPOs by a Chinese company.
The company set a placeholder target of $1 billion, which could value the company between $25 and $30 billion, according to its SEC filing.

Mongolia aims to earn 1 bln USD from gold sector www.china.org.cn

ULAN BATOR, Oct. 3 (Xinhua) -- Mongolia has set a goal of earning one billion U.S. dollars from the gold sector in coming years, the country's Minister of Mining and Heavy Industry Dolgorsuren Sumiyabazar said Tuesday.

DAN recognition system introduced www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolian National Data center has introduced DAN digital recognition system to the public during ICT Expo 2018, held between September 30 and October 2.

Meeting with authorities of Rosneft Public Joint Stock Company of Russia www.montsame.mn

Chief of Staff of the President of Mongolia Mr Z.Enkhbold received on Tuesday top officials at the “Rosneft” Public Joint Stock Company, including the First Vice-President Pavel Fedorov, Vice President Otabek Karimov, Vice President Yuri Kalinin and Chief Geologist Andrey Lazeev. At the beginning of the meeting, the officials of the Russian company touched upon the increasing oil demand in Mongolia and held an extensive discussion on means to meet this demand and the exploitation, refinery and export of oil in Mongolia. At the end of the meeting, Rosneft Company informed that it will be donating EUR 8 million for the purpose of redeveloping the Khalkhgol soum center, Dornod province, in frames of the Mongolian-Russian joint celebration of the 80th anniversary of the victory of the battle in the Khalkha River. Chief of Staff Mr Z.Enkhbold expressed his gratitude for the donation and wished a bright future for the Company.

Dutch Development Bank Arranges USD 120 million loan to Khan Bank www.montsame.mn

Ulaanbaatar /MONTSAME/ The Dutch Development Bank FMO arranged a USD120 million loan to Khan Bank, Mongolia’s leading universal bank. This USD 120 million loan (equivalent to MNT 300 billion) is the largest loan in Khan Bank’s history and will strengthen its strategy to reach out to even the most remote areas of Mongolia. The financing signals FMO’s long-term commitment to the Mongolian market and is expected to pave the way for additional funding from other financial institutions.

Khan Bank is a robust institution with prudent management and a leader in digital banking. The loan will support Khan Bank’s successful growth and will expand access to financing for small and medium-sized enterprises.

Through its extensive network of 536 branches nationwide, Khan Bank provides banking services to an estimated 70% of Mongolian households. The bank provides comprehensive banking services and access to finance to individuals, small and medium-sized enterprises (SME) and corporate customers in even the most remote areas of the vast country. Khan Bank has been a client of FMO since 2009 and is an important partner in Mongolia.

The USD 120 million syndicated loan facility supports Khan Bank's ambition to remain the country’s leading SME and retail bank reaching out to most people in Mongolia. The term facility will also contribute to Khan Bank’s funding stability. In addition to the loan facility, capacity development support will be provided to further strengthen the bank’s environmental and social management system. The inclusiveness and developmental impact of the facility is good through the bank’s strong remote outreach, significant SME portfolio and the bank’s steps to further digitalize banking activities.

FMO commits USD 45 million and in addition mobilized funding from diverse international financing partners: The German development finance institution DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH commits USD 23 million. The International Investment Bank (IIB) commits USD 20 million, the Belgian Investment Company for Developing Countries (BIO) commits USD 17 million and the Development Bank of Austria (OeEB) commits USD 15 million.

John Bell, CEO of Khan Bank commented to the occasion, “With shrinking foreign investment in Mongolia due to an economic downturn in recent years, this syndicated loan facility of USD 120 million from leading international financial institutions is critical not only for Khan Bank’s customers, but also for the overall economy. It is a promising manifestation of increasing confidence of investors in Mongolia. Khan Bank is honored to be leading the way forward.”

Linda Broekhuizen, Chief Investment Officer of FMO commented: “We feel privileged to build further on our warm and longstanding relationship with Khan Bank. This facility will help ensure that more than 2.4 million people from every part of Mongolia can benefit from the country’s development”.

Mongolia's central bank purchases 14.3 tons of gold in 1st 3 quarters www.xinhuanet.com

ULAN BATOR, Oct. 2 (Xinhua) -- The Bank of Mongolia has purchased 14.3 tons of gold from legal entities and individuals in the first three quarters of the year.

Spy arrest! Foreigner arrested in Ulaanbaatar www.news.mn

A foreign citizen was taken into custody in C block of the Golomt apartment complex, which is located near the Western Road Intersection in Ulaanbaatar, earlier today (2 October). According to the General Intelligence Agency of Mongolia, the unnamed foreign national living in Ulaanbaatar was arrested on Tuesday for allegedly spying. Furthermore, intelligence officers have seized four boxes of evidence from the home the suspect. The special operation lasted for two hours and shocked neighbours.