"Considering the external economic environment and internal economic activity, inflation is likely to be stabilized around the target level of 8 percent. So we decided to leave the benchmark interest rate unchanged at 11 percent as needed to stabilize inflation around the target rate and maintain macroeconomic stability in the medium term," Byadran Lkhagvasuren, vice chairman of the bank, told a press conference.

"Mongolia's economic growth has regained its strength. Growth in mining sector surpassed expectations and foreign direct investment inflows to the country increased in the first quarter of this year," he added.

The resource-rich Asian country's gross domestic product expanded 8.6 percent year-on-year in the first quarter of 2019, amounting 3.5 trillion Mongolian tugriks (about 1.3 billion U.S. dollars).

The road is the main route for transporting fall harvests of Selenge aimag and the governor and locals of the aimag have been requesting the government to take measures to pave the road. Mongol LZ Road and Bridge LLC will pave the road.

The new bike will have an engine displacement of 338 cubic centimeters, which is one of the smallest in the company’s 116-year history. It is planned to be sold in China from the end of 2020.

The company’s existing range of motorcycles is generally far larger and comes with engine capacities of more than 601 cubic centimeters.

Harley did not reveal a price range for the new motorbike, while Qianjiang said it would be “affordable.” According to Harley, it will be introduced elsewhere in Asia after the initial launch in China.

The decision is part of a longer-term strategy for dealing with lower sales in the US and higher costs because of trade tariffs. Its announcement to move more production outside the United States has angered President Donald Trump. He called for a boycott after Harley shifted production to Thailand.

Trump, however, made a U-turn to support the manufacturer, after the EU slapped tariffs on Harley-Davidson in retaliation for his tariffs on steel and aluminum imports.

The Khaan Quest is a multinational exercise co-sponsored by U.S. Indo-Pacific Command and hosted annually by the Mongolian Armed Forces. Khaan Quest 2019 is the latest in a continuing series of exercises designed to promote regional peace and security. This year’s exercise marks the 17th anniversary of this training event.

Khaan Quest 2019 consists of a UN peacekeeping operations command-post exercise, a company training event, a staff training event, a field training event, and a critical enabler capability enhancement event at the Five Hills Training Area, all of which will focus on UN and international peacekeeping and stability operations. During these portions of the exercise, Mongolian, U.S., and multinational forces will work to enhance interoperability and mission effectiveness in common tactics, techniques, and procedures in accordance with UN doctrine for peacekeeping operations.

Minister of Finance Khurelbaatar Chimed and ADB Country Director for Mongolia Yolanda Fernandez Lommen signed the agreement at a ceremony in Ulaanbaatar. Members of the ADB Board of Directors, led by Executive Director Kshatrapati Shivaji, witnessed the event. Representatives from the Ministry of Environment and Tourism also attended.

“This marks ADB’s first project loan in Mongolia to focus on tourism and protected area management,” said Fernandez Lommen. “ADB’s support promotes the country’s strategies and efforts to diversify the economy, improve climate-resilient infrastructure, protect the environment, and increase economic opportunities for residents in rural areas.”

The project will benefit around 11,000 residents as well as improve local environmental conservation and climate change adaptation and mitigation efforts. Khuvsgul Lake in Khuvsgul Lake National Park is Mongolia’s largest freshwater resource, while Onon-Balj National Park is the birthplace of Genghis Khan, a revered leader in Mongolia’s history.

In 2017, tourism comprised 11.4 per cent of Mongolia’s GDP, while generating $1.2 billion in revenue and providing 121,500 jobs. Developing tourism is a government priority to help diversify the economy. By 2028, tourism is forecast to provide 11.0 per cent of GDP, $2.1 billion in revenue, and provide 149,000 jobs. International visitors alone are expected to double to one million.

The Sustainable Tourism Development Project will improve planning for community-based tourism that will both support visitors but also create local income generation opportunities.

It will also upgrade tourism infrastructure, including tourism centres such as the Genghis Khan Tourism Complex and ticket booths, install toilets and other waste management facilities that will benefit both tourists and the host communities, and improve park management to safeguard wilderness areas. It will also pilot test Mongolia’s first tourism concession manuals and eco-certification programmes for protected areas.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Last year, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members – 49 from the region. GOGO MONGOLIA/ASIA NEWS NETWORK

Asia Cup 2017 winners Mongolia continue impressing with every new event. The Asian 3x3 powerhouse defeated Russia 21-14 and then Estonia 20-17 to finish undefeated on Day 1 at the World Cup and top Pool B. Puerto Rico, Ukraine and Russia are tied with one win and the third day of competition will decide who will stamp their tickets to the quarter-finals.

In the other men's pool, Asia Cup reigning champs Australia started with a split record. After defeating Brazil, the Aussies lost to Poland in a really intense game that was decided in the last seconds. Europe Cup 2017 winners Latvia also started with a victory over Japan. Brazil could not bounce back after their first loss against Australia and were defeated by Japan in their second game of the day. Latvia and Poland met in a rematch of last year's World Cup Quarter-Finals with Poland going back to the hotel with a 15-13 win in the pocket.

In the women's category, Sonia Ursu stole the spotlight after leading Romania to a 2-0 record in women's Pool C thanks to two wins over Czech Republic and Mongolia in the Tissot Fastest Game of the day. Spain are second with two victories over Czech Republic and Iran.

Scholars and professors from Jilin University of China, Moscow State University of Environmental Engineering, East Siberia State University of Technology and Management and the University of Salford of the United States took part in the international conference, organized by the Institute of International Affairs of the MAS, having discussions on over 10 presentations under topics ‘Mongolia-Russia-China Economic Corridor’, ‘Governance and regional cooperation between China, Japan and S.Korea in globalization’, ‘Foreign trade and economic development of Mongolia’ and ‘New achievements in relations between Mongolia and China in the regional integration’.

Senior researcher of the Institute of International Affairs, Dr J.Bayasakh said “In general, the feasibility studies of projects and programs to be implemented within the Economic Corridor of the three countries have been made. Next year, International Energy Network Center will be established in Ulaanbaatar. Therefore, our country should pay attention on improving its infrastructure, developing highways and forwarding modernization of railways."

The installation will supply 23.1GWh per year to the national grid, which powers Ulaanbaatar city and a new national airport that is scheduled to complete this year. The plant, representing 18,000-plus tonnes in CO2 savings, was built with support from the Japanese government.

The Khushight Khundii project follows Sharp’s completion last year of a PV plant, also boasting 16.5 MW of capacity, in the southern desert province of Dornogovi. The firm was also behind a 10MW project announced in 2016 northwest of Ulaanbaatar, described at the time as Mongolia’s first utility-scale PV scheme.

Mongolia is progressing towards a 30% renewable target share by 2030 as it works to power fast-growing Ulaanbaatar and other areas.

Since its establishment in 2006, Erdenes Mongol did not report any profit until 2015. However, the company’s net profit amounted to MNT 41 billion in 2016-2018. Such profitability was the result of increased coal prices and coal transportation from Tavantolgoi to China.

Despite the increase in total profitability, EM and its subsidiaries do not pay dividends regularly to the Mongolian State Fund. However, some state-owned mining companies such as China Shenhua Energy, India’s Coal India, and Indonesia’s Antam pay 30-100 percent of their profits regularly to the state fund.

According to a study, EM has received external loans and assistance due to the deficit in financial reports, but the government and authorities’ monitoring on the matter is inadequate. By the end of 2017, the debt totaled MNT 877 billion. This is becoming a high risk for taxpayers.

The Government of Mongolia is the 100 percent owner of Erdenes Mongol LLC. The Government can improve the living standards of its people by implementing the activities in four areas, including functionality, management, and human resource, transparency, and control in order to make Erdenes Mongol profitable until 2035.

The average tenure of executive director of Erdenes Mongol's subsidiaries is 1.7 years. When the executives are replaced, over 80 percent of management teams are replaced as well. It is one of the main factors that Erdenes Mongol is not being profitable.