Ulan Baatar – Bangkok 29FEB20 – 28MAR20 2 weekly cancelled
Ulan Baatar – Beijing Capital 02FEB20 – 28MAR20 5 weekly cancelled
Ulan Baatar – Busan 27FEB20 – 28MAR20 2 weekly cancelled
Ulan Baatar – Hong Kong 02FEB20 – 28MAR20 2 weekly service cancelled
Ulan Baatar – Moscow Sheremetyevo – Berlin Tegel 11MAR20 – 28MAR20 2 weekly cancelled
Ulan Baatar – Seoul Incheon 25FEB20 – 28MAR20 7 weekly reservation closed
Ulan Baatar – Tokyo Narita 23FEB20 – 28MAR20 4 weekly cancelled (Original plan: Reduce from 5 to 4 weekly 23FEB20 – 28MAR20)

Other Mongolian carriers including Aero Mongolia, Eznis Airways and Hunnu Air already cancelled all international service. Reported yesterday on Airlineroute, Aero Mongolia and Hunnu Air both stated the cancellation of all domestic service from 10MAR20 to 16MAR20. As Mongolian Authority issued the new guidance, following foreigner carriers also cancels service to Mongolia until 28MAR20. Asiana Airlines and Korean Air previously scheduled to resume Ulan Baatar service from 11MAR20.

Aeroflot
Moscow Sheremetyevo – Ulan Baatar 11MAR20 – 28MAR20 4 weekly cancelled

Air Busan
Busan – Ulan Baatar 25FEB20 – 28MAR20 2 weekly cancelled (already in effect)

Asiana Airlines
Seoul Incheon – Ulan Baatar 25FEB20 – 28MAR20 3 weekly cancelled

Korean Air
Seoul Incheon – Ulan Baatar 26FEB20 – 28MAR20 6 weekly cancelled

SCAT
Nur-Sultan – Ulan Baatar 08MAR20 – 02MAY20 2 weekly cancelled

Turkish Airlines
Istanbul – Ulan Baatar 11MAR20 – 29MAR20 3 weekly cancelled

"The French man aged 57 has been transferred to the NCCD from the country's southeastern Dornogovi province. The patient is now in serious condition," Dulmaa Nyamkhuu, head of the NCCD, told a press conference.

"Our doctors are doing everything possible to cure him," he added.

On March 2, more than 100 passengers who arrived by plane in Mongolia with the patient, and other people who have contact with him have tested negative for the virus, according to the NCCD.

Train No. 5/6 Ulan-Bator – Moscow operated by Ulan Bator Railways, as well as trains No. 305/306 operated by the Federal Passenger Company and Ulan Bator Railways, are also being suspended.

An announcement will be made when passenger services are resumed.

Unused tickets for cancelled trains and trailer carriages can be returned without incurring any additional charges and fees.

Passengers must apply for a refund at the place where they purchased their tickets. If the withdrawal from travel takes place in a country where the passenger does not have citizenship, s/he must apply to the respective railway ticket office and have it stamped with special mark showing the cancellation of the train in order to receive the subsequent refund.

Passengers can find obtain detailed information on the procedure for receiving refunds for their unused tickets and train timetables from the 24-hour phone number of the Unified Information Service Centre of Russian Railways on 8 (800) 775-00-00 when calling from within Russia and on 7 (499) 605-20-00 from abroad.

The Monetary Policy Committee issued a series of policy decisions to support financial intermediation, reduce the cost of banks' funding sources and intensify economic activities.

The decision is aimed at maintaining economic and financial stability without damaging the inflation target.

As of January, the annual inflation rate was 5.6 percent for Mongolia, while it was 6.0 percent in Ulaanbaatar city. Demand-based inflation has a tendency to remain steady while economic growth is likely to slow down. On the other hand, the slowdown in the supply of certain imported foods could cause supply-based fluctuation in inflation.

In addition, there is a risk that external demand and commodity prices could decrease, foreign and domestic economic activity weaken and economic growth continues to slow down as COVID-19 increases uncertainty in economy.

In the future, its impact on the economy will largely depend on cope and duration of the COVID-19 spread and the measures taken against it. Despite the increasing risks of declining export revenue, downward trend in consumer imports continues and the rapid drop in oil prices in the world market will ease the pressure on the tugrug, according to the BoM.

Based on research conducted by ‘City Road’ company, 6-12 m high, over 10 km long toll road with two flows, four lanes and 27 entrance and exit points will be built in ‘A’ area of Ulaanbaatar city. The flyover highway will be built in routes Sansar safety island-East 4-way intersection-Narantuul-Dunjingarav-National Garden Park-Khan-Uul district-Narny bridge-West 4-way intersection-Geser Monastery-100 ail- Sansar traffic circle. By implementing the project, it is expected to reduce traffic congestion by 46.5 percent and air pollution by 20 percent.

The Minister said that it is possible to cover the funding of the project worth USD 800 million within six years with payment of USD 1 from each public transport vehicle that would travel on the road. The road will be built under 25-year concession agreement with design-build-operate-transfer condition. Also the project is available to be implemented in 2-3 years.

Furthermore, ‘Cable car’ project which has already introduced in largest cities such as New York, Moscow and Ankara will be realized. Regarding with implementation of the project, the Cabinet resolved to consult a draft resolution on intergovernmental financial agreement related to the project with the relevant Parliamentary Standing Committee. In case the draft is supported, the project will start with loan investment worth EUR 60.7 million from the Government of the French Republic.

Moreover, it is planned to build 4.9 km long air way with three stations in route Bayankhoshuu intersection – Khaniin material- the National Traumatology and Orthopedics Center and 5.4 km long air way with three stations in route Doloon buudal-Dari Ekh- Sansar traffic circle. As a result, it allows passengers to cross 4.9 km road from Bayankhoshuu to the National Traumatology and Orthopedics Center in 16 minutes and it is calculated that 22 thousand people are possible to travel per day. It was also reflected in the draft resolution on financial agreement that the loan of EUR 60.7 million would have 40 years of repayment term, annual interest of 0.0076 percent and would be exempted from basic payment in the first 12 years.

The Capital City Government Office is making the project planning and its feasibility study, mentioned the Minister.

Copper concentrate export dropped by 16 percent in the first two months and reached 192.2 thousand tons. In monetary terms, it lowered by around 30 percent, reaching USD 219 million, reports the Customs General Administration.

Despite export of Oyu Tolgoi has not been interrupted in regard with border quarantine, export of copper concentrate dramatically declined, reports Oyu Tolgoi LLC.

While, export of zinc increased by 7 percent, reaching 26.4 thousand tons or USD 35.5 million. But price of zinc is falling due to the spread of COVID-19 infections, reports ‘Tsairt Mineral’ LLC, one of the main exporters.

Furthermore, coal export lowered by 35 percent or reached 2.6 million tons. In fiscal terms, it decreased by 34 percent, earning USD 218.2 million. According to the decision of the State Emergency Commission, coal export through Shiveekhuren and Gashuunsukhiat border checkpoints will resume from March 15. In the period of quarantine, the condition has been created for 200 trucks to cross out a day at the Shiveekhuren border crossing, reports the Ministry of Mining and Heavy Industry. The four companies conducting extraction in Nariinsulkait mine agreed to cover MNT 100-170 million, required for preventive and disinfection works againstr COVID-19 infections.

Regarding petroleum export, it dropped triple in monetary terms, reaching USD 16.9 million, reports the Customs General Administration.

Elderly people, women who are pregnant or have newborns, people with disabilities, and postoperative patients will repatriate first by an aircraft of MIAT Mongolian airlines. The Government of Mongolia will cover the costs for testing those citizens for COVID-19 in the countries they are staying and after returning to their home country, the evacuees will spend 14 days in quarantine at their own expenses.

On Wednesday BMO Capital Markets held a conference call with PRC Macro, a consulting firm focused on China’s political economy, about the prospects for 2020 GDP growth in the country.

PRC Macro anticipates spending by Beijing of as much as $570 billion primarily focused on infrastructure. PRC Macro says “in order to declare an economic victory, a 5% growth rate is the absolute minimum that will be acceptable”:

There are two parts to the stimulus plan.

The first, which is almost complete, is to cover cashflows at businesses impacted by weak demand.

The second, just commencing now, is to bolster growth. Infrastructure spending is key, and much of the support (up to 4 trillion RMB) will come from policy banks.

BMO notes the first stage in the China restart is to get factories going again (services would take longer) and is “well progressed,” noting that even in the centre of the outbreak – Wuhan – (China’s Detroit), automakers have been notified to restart operations, albeit with some restrictions.

China is responsible for some 70% of the world’s seaborne iron ore trade, and half the world’s copper consumption. China last year produced 56% of the world’s steel and with rapid refinery expansion in recent years, the country also produces the majority of the world’s copper and other industrial metals.

While panic selling of equities in the US and elsewhere have pushed markets into technical bear territory, that is, a decline in excess of 20%, industrial metals and raw material prices have held up relatively well.

Copper trading in New York was set to close on Wednesday below $2.50 a pound ($5,500 a tonne) for the first time since May 2017, but year to date losses are only just into double digits.

The Chinese import price of 62% Fe content is actually up more than 2% for the week, trading at $90.05 per dry metric tonne on Wednesday, according to Fastmarkets MB, wiping out the steelmaking raw material’s pandemic-related losses.