1 ZANDANSHATAR GOMBOJAV APPOINTED AS PRIME MINISTER OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/06/13      2 WHAT MONGOLIA’S NEW PRIME MINISTER MEANS FOR ITS DEMOCRACY WWW.TIME.COM PUBLISHED:2025/06/13      3 ULAANBAATAR DIALOGUE SHOWS MONGOLIA’S FOREIGN POLICY CONTINUITY AMID POLITICAL UNREST WWW.THEDIPLOMAT.COM PUBLISHED:2025/06/13      4 THE UNITED NATIONS CHILDREN’S FUND (UNICEF) IN MONGOLIA, THE NATIONAL FOUNDATION FOR SUPPORTING THE BILLION TREES MOVEMENT, AND CREDITECH STM NBFI LLC HAVE JOINTLY LAUNCHED THE “ONE CHILD – ONE TREE” INITIATIVE WWW.BILLIONTREE.MN PUBLISHED:2025/06/13      5 NEW MONGOLIAN PM TAKES OFFICE AFTER CORRUPTION PROTESTS WWW.AFP.MN PUBLISHED:2025/06/13      6 GOLD, MINED BY ARTISANAL AND SMALL-SCALE MINERS OF MONGOLIA TO BE SUPPLIED TO INTERNATIONAL JEWELRY COMPANIES WWW.MONTSAME.MN PUBLISHED:2025/06/13      7 AUSTRIA PUBLISHES SYNTHESIZED TEXTS OF TAX TREATIES WITH ICELAND, KAZAKHSTAN AND MONGOLIA AS IMPACTED BY BEPS MLI WWW.ORBITAX.COM  PUBLISHED:2025/06/13      8 THE UNITED STATES AND MONGOLIA OPEN THE CENTER OF EXCELLENCE FOR ENGLISH LANGUAGE TEACHING IN ULAANBAATAR WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/12      9 MONGOLIA'S 'DRAGON PRINCE' DINOSAUR WAS FORERUNNER OF T. REX WWW.REUTERS.COM PUBLISHED:2025/06/12      10 MONGOLIA’S PIVOT TO CENTRAL ASIA AND THE CAUCASUS: STRATEGIC REALIGNMENTS AND REGIONAL IMPLICATIONS WWW.CACIANALYST.ORG  PUBLISHED:2025/06/12      БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦЫН II БЛОКИЙГ 12 ДУГААР САРД АШИГЛАЛТАД ОРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/15     ОРОН СУУЦНЫ ҮНЭ 14.3 ХУВИАР ӨСЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/15     МОНГОЛ УЛСЫН 34 ДЭХ ЕРӨНХИЙ САЙДААР Г.ЗАНДАНШАТАРЫГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     SXCOAL: МОНГОЛЫН НҮҮРСНИЙ ЭКСПОРТ ЗАХ ЗЭЭЛИЙН ХҮНДРЭЛИЙН СҮҮДЭРТ ХУМИГДАЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ БАНК: ТЭТГЭВРИЙН ЗЭЭЛД ТАВИХ ӨР ОРЛОГЫН ХАРЬЦААГ 50:50 БОЛГОЛОО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ ДАХЬ НҮБ-ЫН ХҮҮХДИЙН САН, ТЭРБУМ МОД ҮНДЭСНИЙ ХӨДӨЛГӨӨНИЙГ ДЭМЖИХ САН, КРЕДИТЕХ СТМ ББСБ ХХК “ХҮҮХЭД БҮРД – НЭГ МОД” САНААЧИЛГЫГ ХАМТРАН ХЭРЭГЖҮҮЛНЭ WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/06/13     ЕРӨНХИЙЛӨГЧИЙН ТАМГЫН ГАЗРЫН ДАРГААР А.ҮЙЛСТӨГӨЛДӨР АЖИЛЛАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/13     34 ДЭХ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР ХЭРХЭН АЖИЛЛАНА ГЭЖ АМЛАВ? WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     “АНГЛИ ХЭЛНИЙ МЭРГЭШЛИЙН ТӨВ”-ИЙГ МУИС-Д НЭЭЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     Г.ЗАНДАНШАТАР БАЯЛГИЙН САНГИЙН БОДЛОГЫГ ҮРГЭЛЖЛҮҮЛНЭ ГЭЖ АМЛАЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/12    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Mongolia adds 2,366 new COVID-9 cases www.xinhuanet.com

June 24 (Xinhua) -- Mongolia reported 2,366 new COVID-19 cases over the past 24 hours, raising the national caseload to 102,629, the health ministry said on Thursday.
Thirteen more fatalities were reported in the past day, bringing the nationwide death toll to 500, the ministry said in a statement, adding that 1,059 more patients recovered, taking the total recoveries to 66,602.
The Asian country launched a national vaccination campaign against COVID-19 in late February, with the aim of covering at least 60 percent of its population of 3.3 million.
More than 1,713,700 Mongolians have been fully vaccinated so far.
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Leading banking, finance and technology companies taking their strategic partnership to next level www.montsame.mn

Ard Financial Group JSC (Ard), GrapeCity Mongol LLC (Grape), and MOST Fintech (MOST) signed a strategic partnership agreement in 2017. On June 23, they confirmed this partnership and announced the start of the next stage of cooperation.
Grape, established in 2000, supplies banking software to 12 out of the 13 commercial banks operating in Mongolia. Ten of them use Grape's core banking system. Grape is taking steps to compete internationally.
MOST, Mongolia's first Fintech company, was established in 2008 with a mission to build a nationwide online payment infrastructure. It received the first and only license to operate a payment system network from the Bank of Mongolia. It has been providing Ard App's payment service infrastructure to more than one million users.
As part of the next stage of the partnership, Grape and MOST are looking to become publicly listed companies. Ard and other strategic investors will lead pre-IPO equity rounds, while Ard Securities will work as the primary underwriter of the IPOs. The IPOs will allow the public to own shares in the first publicly-traded IT service company in the Mongolian stock market.
Thus, the partnership of Mongolia's leading banking and payment software company and industry-leading fintech companies will make it easier to provide financial and technological services to customers in a more accessible and straightforward way.
Founder of Grape, Chairman of the Board of Most, and Mongolia's first programmer Mr. Suhdorj Avir founded BSB Group, Mongolia's foremost information technology company in 1991; Grape, a banking and payment software solutions company in 2000; and Incomnet, a satellite communications service provider in 2001. He is a pioneer in Mongolia's telecommunications and has been a driving force in the banking and payment sector. He has implemented several successful projects over the past 40 years, establishing the country's first payment service operator (MOST) in 2008 and launching the MostMoney mobile wallet in 2012.
In terms of assets, Grape accounts for 83 percent of the domestic banking software market. Over 150 NBFIs, SCCs, and microfinance institutions use Grape's POLARIS system for microfinance institutions' accounting. Considering this unique situation, Grape has made the MOST platform publicly available to the public.
Ard Financial Group is a diversified financial services holding company with the overarching goal of increasing its shareholders’ equity through investing in and developing leading financial services and technology companies. Our investment portfolio consists of companies such as Ard Insurance, Ard Credit, Ard Securities, Ard Life, Ard Assets, Ard Management, Ard Bit, TenGer Systems, MEC Partners (ardshop.mn), Mongol Post, Ard Holdings International, Ard Leasing, Ard Properties and Ard Realty. Ard App, Ard Fintech, ArdCoin, Ard Cash, CryptoNation, Digital Assets Exchange and Ard Digital Bazaar are proprietary digital products based on artificial intelligence and blockchain technology.
Source: Ard Financial Group
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World Bank to support sustainable urban transport in Ulaanbaatar www.montsame.mn

On June 23, 2021, the World Bank Board of Directors approved a $100 million loan to support the Ulaanbaatar Sustainable Urban Transport Project, which will develop a comprehensive framework for sustainable urban mobility for Mongolia’s capital, and will reduce congestion, improve road safety, and address climate resilience on selected transport corridors.
In Ulaanbaatar, where close to 50 percent of the country’s population resides, travel demand has been increasing due to rapid urbanization. The city’s current 1,100-km-long street network is sparse and disconnected, while traffic management and road safety facilities are insufficient, causing delays, traffic accidents, and congestion. Poor public transport services and vulnerability to natural hazards such as flooding are affecting residents’ livelihoods and disproportionately hurting vulnerable and low-income populations. At the same time, lack of evidence-based planning and management, and weak institutional capacity have hampered efficient allocation of limited financial resources.
The project will finance street network infrastructure for selected transport corridors as well as better integrated public transport systems. This includes road reconfiguration, rehabilitation, and construction on selected priority corridors, upgrading bus management systems and improvements of bus stops, and installation of intelligent transport systems and smart parking management systems across the city. The project will also support strategic studies and capacity building activities to help the municipality build effective institutions for transport planning and management.
“Improving traffic conditions in Ulaanbaatar has become a top priority for the municipality and the Mongolian government, and the World Bank is pleased to be providing support in this area through its expertise and financial resources,” said Andrei Mikhnev, World Bank Country Manager for Mongolia. “The project is designed to benefit all road users including vulnerable users such as pedestrians in Ulaanbaatar through reduced traffic congestion, improved road safety, and less disruptions from natural hazards.”
“Addressing Ulaanbaatar’s urban transport issues requires a comprehensive and long-term approach to provide urban mobility for all users in a sustainable way,” said Yang Chen, World Bank Senior Transport Specialist. “This project will build the foundation for the comprehensive Ulaanbaatar Sustainable Urban Transport program, which was conceptualized based on the results of analytical work and technical assistance done by the World Bank and the municipality over the past six years.”
The Municipality of Ulaanbaatar will be responsible for the overall project implementation and oversight of the project. It is the first project in Mongolia to be fully financed by the World Bank Group’s International Bank for Reconstruction and Development (IBRD).
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Central bank decides to keep policy rate unchanged www.montsame.mn

At its meeting held today, the Monetary Policy Committee of the Bank of Mongolia took into consideration the current state and outlook of the economy and financial markets, as well as the uncertainties and risks inherent in the domestic and external environments, and reached a decision to:
Keep the policy rate at 6 percent;
Increase the amount of long-term repo financing which is to be issued in the third quarter of 2021 by up to MNT 250 billion.
The inflation rate is projected to remain at the target level of 6 percent in the near future. Currently, it stands at 6.7 percent nationwide and 6.2 percent in Ulaanbaatar city. This was mainly due to the economic growth, cash provided to the citizens, and the increase in the price of meat.
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Energy development projects to be intensified www.montsame.mn

During the cabinet meeting dated June 23, Minister of Energy N.Tavinbekh delivered a presentation on the work load of the country’s energy industry for 2020-2021 winter season and future issues of concern.
The government concluded that it is now of importance to intensify developments in the energy industry, such as extension, refurbishment and establishment of energy sources. Corresponding ministers were charged with ensuring preparations for the upcoming winter season and keeping reserves of raw materials for the refined coal briquette used in the country.
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CPC's great practice offers inspirations, says Turkish party leader www.xinhuanet.com

Interview: CPC's great practice offers inspirations, says Turkish party leader

Source: Xinhua| 2021-06-21 21:00:19|Editor: huaxia
 

ISTANBUL, June 21 (Xinhua) -- China, led by the Communist Party of China (CPC), has accomplished an extraordinary success in eradicating absolute poverty and upholding multilateralism, Dogu Perincek, chairman of Turkey's Patriotic Party, has said.

Perincek, a well-known politician in his country, has paid several visits to China, during which he was most impressed by the tremendous efforts that Chinese people have put in creating a better life.

In a recent interview with Xinhua, Perincek said that the New China was one of the poorest countries when established in 1949, "but the country created a 'miracle' in such a short time" as it developed to become an engine of world economy.

"We can call this century-old history a heroic history or a legendary history of the CPC," he said, speaking of the upcoming 100th anniversary of its founding early next month, with a belief that the party will lead China to another century of great success.

Perincek noted that the CPC, the world's largest political party with more than 90 million members, has acted "equally and sincerely" in its relations with other parties.

"It does not impose its position," he stressed. "When telling its stories, it always says 'these are our experiences.'"

In his view, the CPC is truly "admirable" for respecting other parties' choices of path in line with each country's unique conditions.

Perincek also spoke highly of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, saying the book "Xi Jinping: The Governance of China" has showcased the Chinese president's exceptional leadership skills.

Hailing China's success in securing a "complete victory" in the fight against poverty, Perincek said "this is a great historic achievement for humanity."

Perincek said China also achieved a peerless success in the fight against the COVID-19 pandemic, he said.

China is actively promoting multilateral cooperation and building a community with a shared future for mankind, Perincek said.

"It is not egotistic and not selfish. And in this respect, it represents humanity's hopes and aspirations," he noted. (Video reporter: Wang Feng; Video editor: Liu Ruoshi)

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Microsoft reaches a $2 trillion market cap www.cnn.com

New York (CNN Business)Microsoft has officially entered the most elite of clubs: corporations with a market value exceeding $2 trillion.
The tech giant is only the second publicly traded American company, behind Apple (AAPL), to reach such a valuation. Oil company Saudi Aramco, which went public in 2019, has also previously passed that mark, though its market cap on Tuesday was $1.88 trillion.
Microsoft's (MSFT) market capitalization topped $2 trillion during trading on Tuesday, and closed just $300 million shy of that mark. Its stock on Tuesday climbed 1.1% to $265.51.
The company reached the $2 trillion milestone just over two years after it first passed the $1 trillion market cap mark.
Covid-19 helped get it there. The pandemic meant people were spending more time on their devices, boosting demand for Microsoft's computers, gaming systems and cloud computing platform. And a stock market rally — along with the success of tech companies in particular — lifted its shares.
Microsoft buys Nuance for $16 billion in a major push into health care AI
Microsoft buys Nuance for $16 billion in a major push into health care AI
Microsoft's stock has gained 64% since March 2020, when pandemic lockdowns began going into effect in the United States.
In April, Microsoft reported sales were up 19% year-over-year to $41.7 billion for the three months ended March 31.
"Over a year into the pandemic, digital adoption curves aren't slowing down," CEO Satya Nadella said in a statement at the time. "We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform."
Apple's market value passed $2 trillion last August, and it currently stands at $2.24 trillion. Now, Microsoft has joined its ranks, with two other Big Tech firms, Amazon (AMZN) and Google (GOOGL GOOGLE), nipping at their heels. Amazon's market cap hit $1.77 trillion on Tuesday, and Google parent Alphabet's reached $1.67 trillion.
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Millions become millionaires during Covid pandemic www.bbc.com

More than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic.
While many poor people became poorer, the number of millionaires increased by 5.2 million to 56.1 million globally, Credit Suisse research found.
In 2020 more than 1% of adults worldwide were millionaires for the first time.
Recovering stock markets and soaring house prices helped boost their wealth.
Wealth creation appeared to be "completely detached" from the economic woes of the pandemic, the researchers said.
Anthony Shorrocks, economist and author of the Global Wealth Report, said the pandemic had an "acute short term impact on global markets", but added this was "largely reversed by the end of June 2020".
"Global wealth not only held steady in the face of such turmoil but in fact rapidly increased in the second half of the year," he said.
However, wealth differences between adults widened in 2020, and Mr Shorrocks said if asset price increases, such as house price rises, were removed from the analysis, "then global household wealth may well have fallen".
"In the lower wealth bands where financial assets are less prevalent, wealth has tended to stand still, or, in many cases, regressed," he said.
"Some of the underlying factors may self correct over time. For example, interest rates will begin to rise again at some point, and this will dampen asset prices."
Total global wealth grew by 7.4%, the report said.
Since the start of the 21st century, the number of people with wealth between $10,000 and $100,000 had more than tripled in size from 507 million in 2000 to 1.7 billion in mid-2020.
They said the increase reflected the "growing prosperity of emerging economies, especially China, and the expansion of the middle class in the developing world".
Nannette Hechler-Fayd'herbe, chief investment officer at Credit Suisse, said: "There is no denying actions taken by governments and central banks to organise massive income transfer programmes to support the individuals and businesses most adversely affected by the pandemic, and by lowering interest rates, have successfully averted a full scale global crisis."
She added: "The lowering of interest rates by central banks has probably had the greatest impact.
"It is a major reason why share prices and house prices have flourished, and these translate directly into our valuations of household wealth."
But she added that these interventions "have come at a great cost".
"Public debt relative to GDP has risen throughout the world by 20 percentage points or more in many countries.
"Generous payments from the public sector to households have meant that disposable household income has been relatively stable and has even risen in some countries."
Ms Hechler-Fayd'herbe said a "major reason" why share prices and house prices had "flourished" was due to the lowering of interest rates by banks, which, she added, translated "directly into our valuations of household wealth".
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Total COVID-19 cases exceed 100 thousand in Mongolia www.montsame.mn

At the regular press briefing of the Ministry of Health for today on June 23, it was reported that 2,213 new cases were detected in Mongolia. More specifically, 1,179 new cases were detected in the capital city, 1,024 cases in aimags, nine hospital-acquired cases and one imported case.
As of today, the total number of COVID-19 confirmed cases in Mongolia now stands at 100,263.
Furthermore, ten COVID-19 related deaths have been also reported. Of the 12,479 patients currently undergoing treatment, there are 8,070 patients in mild, 3,149 in serious, 1,053 in critical, and 207 in very critical condition. In addition, 21,745 people with mild cases of COVID-19 are being isolated at home.
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Copper supply needs to double by 2050, Glencore CEO says www.mining.com

Glencore Chief Executive Ivan Glasenberg said on Tuesday that a supply gap was growing in the metals necessary for the world to replace fossil fuels with renewable energy, but he stopped short of predicting a so-called super cycle.
Glasenberg said at the Qatar Economic Forum that copper supplies needed to increase by one million tonnes a year until 2050 to meet an expected demand of 60 million tonnes.
“Today, the world consumes 30 million tonnes of copper per year and by the year 2050, following this trajectory, we’ve got to produce 60 million tonnes of copper per year,” he said.
Shares of many mining companies have doubled in the past year, as policy support measures in advanced economies in response to the covid-19 pandemic stoked inflation.
Commodities serve as a hedge against inflation, meaning their prices are expected to stay strong.
At the same time, the transition to a low-carbon economy and channeling of stimulus funds into infrastructure is generating demand for raw materials.
Demand for copper is rising for use in renewable energy projects and electric vehicles. Prices hit a record high above $10,000 a tonne in May, before falling about $1,500 a tonne.
The nickel and cobalt markets are facing similar supply deficits over the next few decades. Glasenberg said nickel supplies needed to grow by an extra 250,000 tonnes a year compared with a historic rate of just 100,000 tonnes.
He projected annual nickel demand to rise to 9.2 million tonnes from the current 2.5 million tonnes.
(By Clara Denina and Julia Payne; Editing by Alexander Smith and Paul Simao)
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