‘Fuel price volatility poses risks to economic stability’ www.ubpost.mn

Mongol Bank has released its second-quarter Monetary Policy Report, outlining the reasoning behind the Monetary Policy Committee’s decisions, the current state of the economy, inflation trends and medium-term economic prospects.

The quarterly report provides an overview of major economic indicators, including inflation, economic growth, financial market conditions, external sector developments and key risks that may affect the economy in the coming period.

According to the report, the Monetary Policy Committee decided to maintain the policy interest rate at 12 percent in order to support price stability, contain inflationary pressures, and create conditions for sustainable economic growth over the medium term.

The bank noted that inflation has risen in recent months, driven mainly by increases in the prices of meat, vegetables and fuel. However, these price increases are considered to be largely caused by supply-side factors. Unless additional major supply shocks occur, inflation is expected to gradually decline from the second half of 2026 and stabilize within the central bank’s target range by 2027.

The report highlighted several factors supporting economic growth. Coal exports have recovered, while increased production in the copper and gold mining sectors has contributed positively to economic activity. In addition, large-scale construction projects and continued growth in bank lending and investment are expected to help sustain economic expansion.

Mongol Bank also emphasized that economic risks remain elevated. Key risks identified in the report include geopolitical uncertainties in the international environment, fluctuations in global fuel prices and expansionary fiscal policy. According to the central bank, sharp changes in global energy prices could increase inflationary pressures, while excessive fiscal expansion may affect macroeconomic stability by creating additional demand-side pressures.

The bank stated that it will continue to closely monitor domestic economic conditions, inflation developments, international market trends, and external risks. The central bank will take appropriate monetary policy measures if necessary to maintain price stability and support balanced economic growth. 

By misheel

Kharakhorum Festival: Mongolia Will Build the Largest 300-Meter Stage in Asia www.open.kg

The Kharkhorum Festival, an important event in Mongolia's cultural life, is launching its fourth chapter titled TIME. The event will take place at the Central Stadium in Ulaanbaatar, allowing for a larger audience and creating a unique atmosphere. Impressive light shows and performances by famous DJs are expected, making the festival unforgettable.

Unmatched Scale and Technology

The main attraction of the festival will be an impressive 300-meter stage—the largest in Asia. The organizers aim to create a unique panoramic space with a 360° view that will combine light effects and interactive media art. Modern audio and video technologies will be used on-site for full audience immersion.

Global Collaboration and Musical Lineup

This year, the festival is collaborating for the first time with Mixmag Lab, a well-known media platform in the electronic music field, elevating the event to an international level. Both famous Mongolian artists and international DJs will perform on stage. Among the headliners are iconic Japanese selectors, adding a special atmosphere to the event.

Theme TIME: Connection of Past and Present

The festival's concept, based on the idea of time, aims to revive the historical heritage of ancient Kharkhorum through modern audiovisual solutions. The organizers intend to connect the past with the future and showcase the richness of Mongolian culture at a contemporary level.

Event dates: August 22–23, 2026

Location: Mongolia, Ulaanbaatar, Central Stadium (National Sports Stadium)

By Ирина Орлонская

Mongolia sees 25.7% rise in foreign arrivals in first half of 2026 www.qazinform.com

The number of foreign nationals entering Mongolia increased by 25.7 percent in the first half of 2026 compared with the same period a year earlier, according to the country’s National Statistics Office, Qazinform News Agency cites Montsame.

A total of 2,075.4 thousand passengers entered the country between January and June, contributing to 4,086.6 thousand border crossings recorded during the six-month period, up 13.7 percent year over year.

Of the inbound travelers, 1,599.4 thousand (77.1%) were Mongolian citizens, while 476,000 (22.9%) were foreign nationals. The number of inbound Mongolian citizens rose 10.9 percent from a year earlier, while foreign arrivals increased by nearly 97,400, or 25.7 percent.

The majority of travelers entered Mongolia through the Zamiin-Uud border crossing, which handled 34.9 percent of all arrivals. It was followed by Chinggis Khaan International Airport with 25.4 percent, Gashuunsukhait with 10.4 percent, Altanbulag with 7.9 percent, and Shiveekhuren with 7.1 percent. The remaining 14.3 percent entered through other border checkpoints.

More than half of all foreign visitors, 55 percent, came from the East Asia and Pacific region, while 39.3 percent arrived from Europe. Travelers from the Americas accounted for 2.6 percent, followed by the Middle East at 1.6 percent, South Asia at 1.3 percent, and Africa at 0.2 percent.

Chinese and Russian nationals made up the largest share of foreign arrivals. Citizens of China accounted for 33.9 percent of inbound foreign passengers, closely followed by Russia at 33.1 percent. Visitors from South Korea represented 11.9 percent of arrivals, while Japan accounted for 3 percent and Germany for 1.9 percent. The remaining 16.2 percent of foreign travelers were from other countries.

Earlier, Qazinform reported Mongolia and the EAEU roll out tariff cuts as the new trade deal takes effect.

By Adlet Seilkhanov

Mongolia breaks ground on first independent institute of international studies www.asianews.network

Construction of the Presidential Institute of International Studies under the National Defense University officially began onJuly 22, 2026. The facility will serve as Mongolia’s first independent national research and analytical center dedicated to national security, defense policy, and international relations.

President U.Khurelsukh attended the groundbreaking ceremony, emphasizing that the institute’s establishment marks a critical new chapter in the advancement of Mongolia’s national security framework, defense studies, and military science.

The institute will focus on strengthening cooperation among state, military, and law enforcement organizations, while also training researchers, specialists, and government officials in these fields.

During the ceremony, relevant government agencies, contractors, engineers, and technical staff were instructed to complete the project on schedule and ensure high construction quality.

By E. Oyun-Erdene

Mongolia, EAEU roll out tariff cuts as new trade deal takes effect www.qazinform.com

An interim trade agreement between Mongolia and the Eurasian Economic Union (EAEU) entered into force on July 22, introducing tariff preferences for 367 categories of goods, according to Mongolia's state news agency Montsame, Qazinform News Agency reports.
Mongolia and the EAEU member states agreed to grant trade benefits and provide exemption from tariffs on 367 product categories under four agreed conditions.

Agricultural and livestock products account for 97.5 percent of the goods covered by the agreement that are exported from Mongolia. Import duties on finished leather, wool, and cashmere products will be eliminated, while tariffs on certain other products will be reduced by 50 percent.

The removal of tariffs ranging from 15 percent to 50 percent on Mongolian exports is expected to provide domestic producers with greater access to international markets and strengthen the country's export competitiveness.

According to preliminary government estimates, the agreement could double Mongolia's exports within three years and generate an additional 150 million US dollars in export revenue.

The interim trade agreement will remain in force beyond the initial three-year period unless either party submits a proposal to terminate it before the agreement expires.

Earlier, Qazinform reported Mongolia and Tajikistan expand bilateral cooperation with new agreements. 

Adlet Seilkhanov

Industrial Production Increases by 55.9% www.montsame.mn

According to the preliminary results for the first half of 2026, total industrial production reached MNT 35.3 trillion, an increase of MNT 12.6 trillion or 55.9% compared to the same period of the previous year.

This growth was mainly driven by a 68.2% (MNT 12.0 trillion) increase in the mining and quarrying sector's output and a 15.4% (MNT 539.8 billion) increase in the manufacturing sector's output.

According to the National Statistics Office of Mongolia, the total production of the mining and quarrying sector reached MNT 29.6 trillion based on the preliminary results for the first half of 2026. This expansion was primarily fueled by a 92.3% (MNT 8.2 trillion) year-on-year increase in metal ore mining and a 46.5% (MNT 3.6 trillion) increase in hard and brown coal mining.

Enkh-Od.G

Seabuckthorn oil standard approved www.ubpost.mn

A proposal to develop an international Codex Alimentarius standard for seabuckthorn oil has been approved as a “new work,” to establish global quality and safety requirements for the product and expand its international market potential. The decision was made during the 49th session of the Codex Alimentarius Commission (CAC) plenary meeting in Geneva, Switzerland, where the proposal submitted by Mongolia was discussed and received support from member countries.

The approval officially launches the process of developing the first international Codex standard for seabuckthorn oil. The future standard will be developed through a science-based process, incorporating technical evidence and contributions from Codex member countries before moving through the organization’s review and approval stages.

The Ministry of Food, Agriculture and Light Industry initiated the work in 2025 with the goal of strengthening the competitiveness of Mongolian seabuckthorn products, promoting exports, and reducing technical barriers that limit access to international markets. The country is one of the world’s recognized producers of seabuckthorn, a nutrient-rich fruit widely used in food, health and cosmetic industries. However, differences in quality requirements and safety regulations across countries have created challenges for producers seeking to expand into global markets. 

The development of a unified Codex standard is expected to provide internationally recognized benchmarks for the quality, safety, composition, and labeling of sea buckthorn oil, helping producers meet global trade requirements and increasing consumer confidence.

The ministry reported that the CAC’s decision represents international recognition of the country’s initiative and creates new opportunities to strengthen the agricultural exports and promote sea buckthorn oil as a competitive value-added product in global markets.

By Misheel

Ulaanbaatar Cable Car Construction Reaches 85 Percent Completion www.montsame.mn

Construction on the Ulaanbaatar Cable Car transport project, which will connect the capital city's Kharkhorin market area with Yarmag, commenced on March 10, 2025. As of today, the overall project execution stands at 85 percent, according to the Governor's Office of the Capital City.

Under the project being implemented along the Artsat-Unur Khoroolol route, 19 support pillars have been installed, and the construction of two stations is currently underway.

The project is being jointly implemented by specialists from France’s POMA Group, alongside teams from "Monnis Engineering" LLC and "Tsagaan Uran Khiits" LLC. The client's supervision is being carried out by the "Integrated Project Management Department," a local government-owned enterprise, and "Maximal" LLC.

Governor of the Capital City and Mayor of Ulaanbaatar Purevdagva Byaruuzana, accompanied by relevant officials, inspected the G1 cable car station. "The testing of the cable car system will begin on September 19, 2026. Following this, the State Commission will evaluate the project from October 20 to November 20, 2026. The overall project completion is at 85 percent, while the construction of the G1 and G2 stations is about 80 percent complete, proceeding according to schedule," stated Mayor Purevdagva. "A successful single-cabin test was conducted during the National Naadam festival. Each cabin can accommodate 10 passengers and has a carrying capacity of 800 kg. Passengers will be able to travel the 4.2 km route between Yarmag and Kharkhorin in just 11 minutes. A total of 98 such cabins will serve the public. With the commissioning of the cable car system, citizens will experience the most modern culture of public transportation."

The cable car system is equipped with a backup generator that activates automatically in the event of a power outage. Furthermore, it features an emergency mode designed to bring all cabins safely to the stations and evacuate passengers in high-risk situations.

Juan Munier, Site Manager of the Cable Car Transport Project, noted: "Throughout the project's implementation, all stakeholders, the Integrated Project Management Department, 'Monnis Engineering', 'Maximal', and POMA's engineering and technical staff have shared a unified vision. We are working together highly effectively, and it is a great pleasure to collaborate with Mongolian engineers. As stipulated in the contract, we will provide training and maintenance services for three years after the project is commissioned. Starting this week, French experts are conducting rescue operation training for professional organizations."

Chief of Staff of the Rescue Unit of the Ulaanbaatar City Emergency Management Department Tsogtbayar M. added, "As the cable car is a completely new mode of transportation being introduced in our country for the first time, we are organizing high-altitude training exercises to build the capacity of our rescue personnel. Although the risk of an accident on the cable car is low, we are ensuring full readiness and training our rescue teams to access the system and operate safely."

By Enkh-Od.G

Mongolian Mining Corporation reports Q2 2026 production data www.ng.investing.com

HONG KONG - Mongolian Mining Corporation (SEHK:975) released operational results for the quarter ended June 30, 2026, according to a press release statement.

The company produced 2,814.1 thousand tonnes of washed coking coal during the second quarter, representing a 24% increase from the previous quarter and a 29% increase year-over-year. Washed coking coal sales reached 2,688.1 thousand tonnes, up 5% quarter-on-quarter and 55% compared to the same period in 2025.

Run-of-mine coal mined totaled 4,424.4 thousand tonnes, down 9% from the first quarter of 2026 but up 29% year-over-year. The company processed 4,509.8 thousand tonnes of ROM coking coal during the quarter.

The company operates the Ukhaa Khudag coking coal mine through its wholly-owned subsidiary Energy Resources LLC and the Baruun Naran coking coal mine through majority-owned Khangad Exploration LLC. Both mines are located in Umnugobi province, Mongolia.

In gold operations, Erdene Mongol LLC, in which the company holds a 50% equity stake, sold 11,709 ounces of gold from the Bayan Khundii mine during the quarter, up 37% from the previous quarter. The weighted average gold price was $4,493 per ounce, down 8% from the first quarter. Ore mined increased 60% quarter-on-quarter to 247.2 thousand tonnes.

The company also holds a 50.5% stake in Universal Copper LLC, which is developing the White Hill copper deposit and Urkhut silver deposit in Bayankhongor province.

The operational data are unaudited and derived from internal records. The company noted that various factors including force majeure events, market conditions, and regulatory changes may affect results.

1033rd ESC supports exercise Khaan Quest in Mongolia www.va.ng.mil

Virginia National Guard Soldiers assigned to the Powhatan-based 1033rd Engineer Support Company, 276th Engineer Battalion, 329th Regional Support Group supported a multi-national exercise in Mongolia during the unit’s annual training. 

Khaan Quest 2026 concluded July 3, 2026, with a closing ceremony at the Five Hills Training Area near Ulaanbaatar, Mongolia. The Asian nation has hosted the peacekeeping operations exercise annually since 2003, co-sponsored by U.S. Pacific Command. 

“Participation in Khaan Quest represents Virginia’s commitment to national interests by supporting Mongolia as a beacon of democracy sandwiched between the Russian Federation and the People’s Republic of China,” said Lt. Col. Ryan P. Miner, commander of the 276th Engineer Battalion. “The Soldiers of the 1033rd ESC represent the very best of our nation’s military, and the accolades from their Mongolian counterparts and USARPAC alike speak volumes of the loyalty and dedication of these Soldiers.”

During the exercise, the 1033rd’s Soldiers supported the exercise with vertical and horizontal construction, surveying, quarry operations and field maintenance operations. 

“The Soldiers of 1033rd greatly exceeded the standard,” said Capt. Garret A. Shultz, Commander of the 1033rd. “Our work will leave a lasting impact for the country of Mongolia and set the stage for future engineering projects."

The exercise brought together military organizations from 18 different nations, including Canada, Australia, Japan, Kuwait, South Korea and the United Kingdom. The opportunity to work with so many allied partners and gain real-world experience will greatly benefit the 1033rd’s Soldiers, said 1st Sgt. Shaun Howard. 

“The Soldiers of the 1033rd Engineer Support Company received real world, operational experience, constructing a roadway that will enhance the operability of Five Hills Training Area,” said Howard. “Our platoon leaders and noncommissioned officers also gained valuable insight in partner nation collaboration by working with Mongolian Armed Forces counterparts, learning their standard operating procedures and how best to operate in a joint environment.”

By Maj. Johnny Partin | 329th Regional Support Group