China-Mongolia joint archaeological team discovers runic inscriptions in Mongolia dating back up to 1,300 years ago www.globaltimes.cn

A China-Mongolia joint archaeological team has discovered a new runic inscription during a field survey in Bayankhongor Province, Mongolia, which marks an important addition to the limited corpus of ancient Turkic inscriptions date back up to 1,300 years ago and is expected to facilitate studies of ancient Silk Road.

The inscription was discovered on an exposed natural rock surface on a mountainside and consists of several clearly preserved lines of runic characters. The carvings remain in good condition, with distinct strokes and legible inscriptions, offering valuable new material for future research, the paper.cn reported Monday.

The joint team, formed by Inner Mongolia University and the Institute of Archaeology of the Mongolian Academy of Sciences, has completed high-resolution photographic documentation, mapping, and detailed recording of the inscription in accordance with standard archaeological field procedures. A systematic survey of the surrounding area was also conducted.

The script, commonly known as Old Turkic inscriptions or Old Turkic runiform inscriptions, was the script widely used by the nomadic polities including the Turkic Khaganate, the Uygur Khaganate, and other nomadic polities across the Mongolian Plateau between the 7th and 10th centuries. The best-known examples include the inscriptions in the Orkhon Valley.

As surviving runic inscriptions are relatively rare, they serve as invaluable primary sources for the study of ancient Turkic and Uygur history. Each newly discovered inscription has the potential to provide fresh linguistic evidence and historical information.

An epigraph inscribed with both Chinese and the runic scripts from Tang Dynasty (618-907) was discovered in Xi'an, Northwest China's Shaanxi Province. The epigraph wrote the life of a Uygur prince who came to Xi'an, or Chang'an in Tang Dynasty and showcased exchanges across the Silk Road, Xinhua News Agency reported earlier.

The latest discovery further enriches the known collection of runic inscriptions on the Mongolian Plateau and provides new physical evidence for studying the historical geography, languages and scripts, tribal composition and transportation routes of ancient nomadic states. It also carries significant academic value for advancing research into Eurasian steppe civilizations and the ancient Silk Road across the grasslands.

The discovery represents another achievement of practical archaeological cooperation between China and Mongolia, highlighting the two countries' joint efforts to promote cultural heritage research and deepen exchanges between civilizations.

The joint archaeological team will work with experts in linguistics, history, and archaeology to decipher and conduct comprehensive studies of the inscription. The research findings will be released to the academic community and the public in due course.

Global Times

Mongolia secures 7th UNESCO World Heritage Site www.xinhuanet.com

The cemetery complexes of the Xiongnu nobility in Mongolia have been inscribed on the UNESCO World Heritage List, local media reported on Monday, citing the ministry of culture, sports, tourism and youth.

The inscription was approved during the 48th session of the World Heritage Committee held in Busan, South Korea, from July 19 to 29, raising the total number of World Heritage sites in Mongolia to seven, the ministry said.

The newly inscribed site comprises eight funerary complexes of the Xiongnu nobility. The Xiongnu, ancient predecessors of a confederation of Eurasian nomadic peoples, established a powerful empire between the 3rd century BCE and the 2nd century CE that eventually occupied a vast territory centered on what is now Mongolia, according to UNESCO.

A wide range of artefacts found in the tombs, including horse tack and chariots as well as weapons, tools and food for the afterlife, provides a window into the Xiongnu way of life and social structure.

N.Uchral: Finish the Naadam festival, prepare for winter www.gogo.mn

Prime Minister N.Uchral has instructed all levels of government to complete winter preparedness measures and submit weekly progress reports.

"Finish the Naadam festival. Prepare for winter," the Prime Minister said, emphasizing the need to ensure a stable supply of electricity, heating, coal, fuel, and other essential resources ahead of the cold season.

He stressed that the government's top priority is to avoid disrupting the lives and livelihoods of citizens, urging officials not to wait until winter arrives but to complete all necessary preparations in advance.

The Prime Minister also directed government agencies at all levels to intensify their work on winter readiness and report on their progress every week.

Over 2,800 delegates expected for COP17 in Mongolia www.gogo.mn

Over 2,800 guests and delegates are expected to travel to Mongolia for the 17th Conference of the Parties to the United Nations Convention to Combat Desertification (COP17), according to M. Bayarmagnai, State Secretary of the Ministry of Roads and Transport.

To support the event, more than 60 buses will operate on five routes between Chinggis Khaan International Airport and designated hotels. In addition, over 100 buses will run on 16 routes connecting hotels with the conference venue.

Overall, authorities plan to deploy more than 160 buses and keep 150 to 200 vehicles on standby to provide transportation and logistics services throughout the conference.

Bus services are scheduled to run every 5–10 minutes during the morning peak period and every 10–20 minutes during the daytime and evening to ensure the smooth movement of participants.

Victoria Delmon Announced as World Bank Group New Country Manager for Mongolia www.montsame.mn

The World Bank Group announced the appointment of Victoria Delmon as Country Manager for Mongolia, a position that unifies country-level leadership across the World Bank, IFC, and MIGA to better support public and private sector clients.

Based in Ulaanbaatar, Ms. Delmon will oversee the World Bank Group’s engagement in Mongolia, supporting the country’s efforts to strengthen economic diversification, attract private investment, and create more and better jobs.

“With its natural endowment, Mongolia has strong potential to unlock new private investment and build a more diversified and resilient economy,” said Victoria Delmon, World Bank Group Country Manager for Mongolia. “The World Bank Group is committed to working with the government and private sector to mobilize capital, strengthen the investment climate, and support reforms that drive growth, jobs, and long-term development.”

Ms. Delmon, a British national, brings over 30 years of experience in infrastructure finance, mergers and acquisitions, project structuring, and policy reform, spanning Africa, Eastern Europe, the Middle East, and the Asia Pacific.

She joined the World Bank in 2006 as Senior Counsel in the Legal Vice Presidency in Washington, D.C., and later joined the Water Global Practice. In 2020, she joined IFC as Manager, Upstream and Advisory, Infrastructure, Asia Pacific, based in Singapore. In this role, she led a team focused on origination, market creation, and developing bankable infrastructure projects across the region, including in Mongolia.

Earlier in her career, Ms. Delmon worked at the international law firm Freshfields Bruckhaus Deringer in London and served as international counsel at the utility company Veolia Environnement. She is co-editor of the book “International Project Finance and PPPs” and has co-authored publications on private participation in infrastructure, incentive-based regulation, and commercial finance.

Ms. Delmon holds an MA in Law from the University of Oxford, United Kingdom.

AI in government www.gogo.mn

THE Prime Minister’s Office has announced the introduction of an AI-powered digital system and directed ministries to replace paper-based processes with digital workflows.

Finally, it has been acknowledged that Pakistan’s bureaucracy cannot continue to rely on endless files, handwritten notes and slow-moving paperwork while governments elsewhere are embracing digital tools. Yet the real significance of the move lies not in the adoption of AI itself, but in whether it helps transform the way government functions. Pakistan has too often treated technology as a solution in its own right. New portals, mobile applications and digital platforms have frequently been launched with much fanfare, only to disappoint because the underlying administrative culture remained unchanged. If departments continue to operate in isolation, if officials remain reluctant to share information, if decisions remain tied up in overlapping approvals and if public records are poorly maintained, AI will merely automate existing weaknesses rather than eliminate them. Successful digital transformation begins with reliable data, clearly defined responsibilities and institutions willing to rethink how they work.

Used wisely, AI could nevertheless improve governance in meaningful ways. It can organise vast quantities of official information, reduce repetitive administrative tasks, identify delays in service delivery and provide policymakers with insights that might otherwise be overlooked. Its greatest value may lie in supporting, rather than replacing, public servants. Citizens could benefit through quicker responses, better access to services and greater transparency. Those gains, however, will depend as much on governance as on technology. Sensitive public data must be protected and automated systems should remain subject to human oversight. AI should support administrative decisions rather than replace human judgement and accountability.

Above all, this initiative should be judged by measurable improvements rather than ambitious announcements. If it shortens processing time, reduces opportunities for corruption, strengthens record management and makes services more responsive, it will represent genuine reform. If it simply replaces paper files with electronic ones while preserving the same delays, procedures and habits, the technology will have changed far less than the headlines suggest. Modern government is defined not by the tools it adopts but by the quality of service it delivers.

SA gas company signs billion-dollar agreement www.indailysa.com.au/

South Australia-based gas exploration company Jade Gas Holdings has penned a non-binding agreement with a coalition of Chinese companies worth $1 billion that has the potential to turbocharge its ambitions to become a major extractor of gas in Mongolia.

Announced last week, the deal – if signed off by the consortium of Chinese companies – would give Jade Gas the capital to get its planned project in the Gobi Desert off the ground.

The company has the rights to abundant coal bed methane in Mongolia and if production starts it would be the first company to extract natural gas in the nation.

The proposed deal would be for just Phase 1 of Jade’s plans, and is worth an estimated $1.1 billion.

A binding agreement was expected within the next two months, executive director Joseph Burke told InDaily.

Not only would the deal rapidly transform the Adelaide-based ASX-listed company into a powerhouse gas player, it could also transform the Mongolian economy.

The nation’s trucks run almost entirely off diesel, Burke said, meaning LNG was scarce.

The project had become “so important to me”, Burke said.
Corporate Ladder: your weekly guide to executive appointments in South Australia
“There is a way here to really bring something new to Mongolia,” he said.

“Mongolia needs the gas, but Mongolia needs to be ready for the gas.

“Although they’re very excited that we can deploy a lot quicker, the infrastructure for the downstream is not in place.”

Jade Gas would work with PT Beijing Energy Linking (PTBEL) as lead contractor and Pretro China and Hunan Geology & Mining Technology as sub-contractors.

The companies would assist Jade in drilling 175 gas wells covering only approximately 20 per cent of the total drilling area across the larger 60sqkm Red Lake Development Area.

In total, the company has 665sqkm of permit area – making Phase 1 a sudden scale-up for the business but just the tip of the iceberg in terms of what was possible for Jade Gas.

In total, some 1400 wells could possibly take over the Gobi Desert under Jade’s plans.

An initial 10 drilling rigs would be made available by the consortium, under the agreement, with mobilisation targeted for between February and March 2027.

The entire cost of Phase 1 would be borne by PTBEL, with the company to be repaid through a future gas sales revenue sharing arrangement.

A $215 million scalable LNG liquefaction facility was contemplated by the agreement in order to monetise the first 40 wells drilled.

Burke is no stranger to running projects in the region and said projects like his were “quite rare”.

“Mongolia has a lot of coal, but what is less known is there is a lot of gassy coals.”

Burke has spent more than 30 years working and living in Asia and has been involved in Mongolian mining projects since 2009.

In previous roles he was a director and founding partner of the mining venture capital group Starboard Global and the CEO of ASX listed Voyager Resources Limited (ASX: VOR) which had projects based in Mongolia.

Burke said the structure of the agreement was how business was normally done in China, “and all I wanted to do was replicate that”.

“It was basically to bring in someone of significance that could do it,” he said.

“When you’re an ASX junior, when you’re pre-revenue, it’s always difficult.”

Mongolia’s Hunnu nobility cemetery complexes added to UNESCO World Heritage List www.qazinform.com

The Cemetery Complexes of the Hunnu Nobility, dating back to the Hunnu Empire - Mongolia’s first known state - have been inscribed on the UNESCO World Heritage List during the 48th session of the World Heritage Committee in Busan, Republic of Korea, Qazinform News Agency cites Montsame.
The newly listed serial property comprises five major archaeological sites across Mongolia: Noyon Uul in Tuv Province, Chikhertiin Zoo in Tuv Province, Duurlig Nars in Khentii Province, Gol Mod I and II in Arkhangai Province, and Takhiltiin Khotgor in Khovd Province.

The inscription marks the culmination of years of archaeological research led by the Chinggis Khaan National Museum, recognizing one of the most significant cultural legacies of the ancient Hunnu civilization on the global stage.

Representing the Mongolian delegation at the UNESCO session, Minister of Culture, Sports, Tourism and Youth Aldarjavkhlan Jukov described the designation as the result of decades of collaborative work by Mongolian and international archaeologists, historians and researchers. He said their efforts have significantly expanded historical understanding of the Hunnu Empire and demonstrated the site's outstanding universal value.

Academician Chuluun Sampildondov, who led the expert team behind the nomination, said the inscription recognizes the Hunnu nobility cemetery complexes as part of humanity's shared cultural heritage while also affirming the historical significance of Mongolia's first state. He noted that the decision reflects many years of scientific research and represents an important milestone for the Chinggis Khaan National Museum, which now oversees a UNESCO-recognized World Heritage property.

Under UNESCO's World Heritage Convention, sites must demonstrate Outstanding Universal Value, meet at least one of ten selection criteria, and satisfy requirements for authenticity and integrity.

Mongolia joined the UNESCO World Heritage Convention in 1990. Before the latest inscription, the country had six World Heritage sites: the Uvs Nuur Basin, Orkhon Valley Cultural Landscape, Petroglyphic Complexes of the Mongolian Altai, Great Burkhan Khaldun Mountain and its surrounding sacred landscape, Landscapes of Dauria, and Deer Stone Monuments and Related Bronze Age Sites.

With the addition of the Cemetery Complexes of the Hunnu Nobility, Mongolia now has seven UNESCO World Heritage sites.

Earlier, it was reported Japan's Asuka-Fujiwara sites had been added to the World Heritage List. 

Mom's Touch Opens 20th Store in Mongolia, Becomes No. 2 QSR Brand www.en.sedaily.com

Mom's Touch has opened its 20th store in Mongolia, rising to become the country's second-largest quick service restaurant (QSR) brand by number of stores.

The company said on the 27th that it had opened its 20th store, "Nomin Macro," in Mongolia.

The milestone comes about two years and 10 months after Mom's Touch opened its first store, "Emart Bayangol," in downtown Ulaanbaatar in September 2023. Mom's Touch now holds the most stores after KFC, which currently operates 29 locations. Since entering Mongolia in 2023, Mom's Touch has opened an average of 6.2 stores per year, recording the fastest growth in the local QSR market. That figure far exceeds local KFC (2.4 stores) and Burger King (1.8 stores).

The company attributed the success to the competitiveness of its QSR platform, which offers burgers, chicken, and pizza at specialty-shop levels of taste and quality within a single store. Unlike major local competitors, the ability to enjoy a variety of menu items in one place has served as a differentiating factor, driving both repeat visits from local customers and the inflow of new customers, the company explained.

Mom's Touch plans to continue expanding its stores. It will open its 21st store next month and has set a goal of increasing the number to 25 stores within the year. Through this, the company aims to become the QSR brand with the largest number of stores by the end of next year.

"Mongolia is a young country, with more than 60% of its population under the age of 35, and has high interest in K-food and a strong openness to foreign culture, giving it great growth potential in the dining market," a Mom's Touch official said. "Through the stable logistics supply infrastructure of our partner company, which operates the only poultry farm in Mongolia, we provide a QSR platform experience where customers can enjoy burgers, chicken, and pizza made with fresh chicken in one store, just as in Korea, and we are receiving a strong response from local customers."
         

Government Domestic Securities Worth MNT 10 Billion Traded www.montsame.mn

Weekly Capital Market and Economic Review 
(July 6, 2026 – July 19, 2026)

MONGOLIAN STOCK EXCHANGE

Last week on the Mongolian Stock Exchange, a total of 10.3 million securities worth MNT 4.7 billion were traded. MGL Aqua JSC, Mandal Insurance JSC, Trade and Development Bank JSC, Khan Bank JSC, and Khas Bank JSC led in trading value, with two block trades taking place during this period:

• MGL Aqua JSC (MGLA): 1.8 million securities traded at MNT 249.76 per unit, totaling MNT 461.4 million.
• Mandal Insurance JSC (MNDL): 5 million securities traded at MNT 80 per unit, totaling MNT 400.0 million.

Indices on the Mongolian Stock Exchange closed with mixed performance. The MSE A index rose by 0.39%, and the MSE B index increased by 1.42%, while the TOP-20 index dropped by 0.37% and the FTI index decreased by 0.87%. The MSE B index saw the highest growth, indicating relatively higher demand for small- and mid-cap stocks within it. Conversely, the minor decline in the TOP-20 index reflects a slight weakness in top market-cap equities, while the 0.87% drop in the FTI index signals a price decline in investment fund units.

Overall, market activity showed stronger buying interest in small- and mid-cap stocks, while top market-cap equities and investment fund units showed weaker performance.

REGISTRATION UPDATE FOR "ERDENE RESOURCE DEVELOPMENT CORPORATION" SECURITIES

In accordance with Order No. 438 of the Chairman of the Financial Regulatory Commission dated June 23, 2026, and Order No. A/311 of the Executive Director of "Mongolian Stock Exchange" JSC dated July 2, 2026, changes were made to the securities registration of "Erdene Resource Development Corporation," listed on the MSE.

As reported in June, the company’s shares are regularly being additionally registered on the Toronto Stock Exchange (TSX) in Canada. This time, an additional 16,667 common shares were registered on the TSX. This update has been reflected in the Mongolian Stock Exchange register, bringing the total number of the company's registered shares to 65,451,375.

• Newly registered shares: 16,667 common shares
• Previous registered share count: 65,434,708 shares
• New total share count: 65,451,375 shares
• Basis for change: Related to the additional shares listed on the Toronto Stock Exchange, Canada

This type of registration update helps align information across both exchanges and officially confirms the company's total issued shares.

KAKAO BANK AND MCS GROUP SIGN TERM SHEET FOR INVESTMENT

During the Mongolia–Korea Business Forum held as part of South Korean President Lee Jae-myung's official visit to Mongolia, MCS Group and South Korea's digital bank KakaoBank signed a term sheet outlining core investment conditions.

Under this partnership, KakaoBank plans to make a strategic investment in M Bank (backed by MCS Group), co-develop a credit scoring model to assess credit risk, and expand access to digital financial services.

According to Yun Ho-young, CEO of KakaoBank, the bank has issued a total of KRW 16 trillion in loans utilizing its proprietary credit scoring model. He highlighted that Mongolia's young population and growing digital infrastructure present strong opportunities for developing AI-driven financial services.

KakaoBank plans to finalize its investment in M Bank within this year, subject to regulatory approvals and compliance requirements.

SUCCESSFUL PRIMARY AND SECONDARY TRADING OF GOVERNMENT DOMESTIC SECURITIES

On July 8, 2026, 2-year and 3-year coupon-bearing domestic government bonds worth a total of 10 billion MNT were offered publicly to investors.

The auction received 7 bids totaling MNT 6.5 billion for the 2-year coupon bond, and 7 bids totaling MNT 6.5 billion for the 3-year coupon bond, resulting in total demand reaching MNT 13.0 billion.