Since the first case of the viral disease in pigs was recorded earlier this month, some 1,500 pigs have been slaughtered, Mongolia's General Agency for Specialized Investigation said in a statement.

As of Monday, there have been case reports in the capital Ulan Bator and more provinces recently. The provinces now include Khuvsgul, Bulgan, Orkhon, Selenge and Darkhan-Uul in the north, Dundgovi in the south and Tuv in central Mongolia, it said.

The agency said its officials have carried out inspection tours in the affected areas and seized infected pork from markets and restaurants.

Transport of all pigs and related products out of and into the listed places has been banned, and the country has suspended the import of pork products from the countries affected by the African swine plague, it said.

African swine fever is a highly contagious, lethal disease believed to infect swine only. No humans nor other species have thus far been found infected.

During the event, the Chinese Embassy in Mongolia and the Union of Chinese Immigrants in Mongolia gave flour, rice, fruits, sunflower oil, blankets and other necessities worth 20 million Mongolian tughriks (about 7,547 U.S. dollars) to 50 Chinese immigrants in the country.

Chinese Ambassador to Mongolia Xing Haiming noted that as 2019 marks the 70th anniversary of the establishment of China-Mongolia diplomatic ties, the two sides will organize many activities this year to strengthen bilateral ties and cooperation and deepen the friendship between the two peoples.

"There are many Chinese immigrants living and working in Mongolia. We will support you all the way," Xing said, wishing immigrants good health and happiness in the upcoming year of the Pig.

Chinese New Year, also known as the Spring Festival, is the most important holiday in China, which comes on Feb. 5 this year.

In thin holiday trade in the US, copper for delivery in March slumped 1.6% compared to Friday's close to $2.7655 per pound ($5,897 a tonne) on the Comex market in New York wiping out the metal's gains for the year.

Data released on Monday showed Chinese economic growth slowing to 6.4% during the fourth quarter, the lowest in almost a decade and the third quarter in a row of slowing growth. For 2018 as a whole the country's GDP expanded by 6.6%, which was the lowest rate since 1990.

In a note released on Monday, economists from CIBC said while it is not expecting a recession in 2019, it expects "increasing trade barriers and tariffs to slow down global growth over the next 18 months, delaying our previously forecast 2020 recovery to 2021.”

The Canadian bank's analysts adjusted their copper price forecast for 2019 to $2.75 per pound, down 10.6% from the previous prediction. For 2020 the bank expects copper to average $2.85, down more than 12%:

“We acknowledge that a stronger-than-expected fiscal and monetary policy response from China, and/or supply disruptions (i.e., Chuquicamata in copper, Chinese smelting constraints in zinc), may support higher price estimates.

“However, a demand slowdown is likely to trump higher sustainable prices.”

China consumes nearly half the world's copper and the metal is considered a good barometer of economic conditions given its widespread use in power grids, communication networks, manufacturing and construction.

At the start of 2019, copper fell to a near two-year low of $2.54 a pound. Copper is technically in a bear market with the price plunging more than 20% since peaking in June 2018 over fears of the impact of the trade dispute between China and the US.

The meeting was co-chaired by D.Davaasuren, State Secretary of the Ministry of Foreign Affairs of Mongolia, and Marcelino Medina, first Vice Minister of Foreign Affairs of Cuba.

Mr. Davaasuren held a meeting with Mr. Fernando Bermudez, first Deputy Minister of Science, Technology and Environment and discussed about launching cooperation between scientific, technological and research institutes. Furthermore, they signed a Memorandum of Understanding between the Ministry of Environment and Tourism of Mongolia and the Ministry of Science, Technology and Environment of the Republic of Cuba for cooperation in conservation.

Moreover, the State Secretary got familiarized with activities of the Diplomatic Academy and the Center for Genetic Engineering and Biotechnology which is leading in the world with its production of pharmaceuticals and vaccines and exchanged views on bilateral cooperation.

The Cuban side proposed to cooperate with Mongolia in health and biotechnological sectors, especially in the fields of treatment of diabetes, prevention of heart attack, elimination of hepatitis B and Delta viruses and the supply of vaccines against bovine foot-and-mouth disease and parasites.

“The PEA confirms that the Khundii Gold Project is a high-return, low-capital and low-operating cost project that will form the cornerstone development in the emerging Khundii Gold District,” said Peter Akerley, the President, and CEO of ERD. “The project has the potential to provide strong returns to investors, bring industry and employment to a remote area of Mongolia and add to national gold reserves. We have a long history of operating responsibly in the Country and we look forward to creating value for all stakeholders as we continue to develop this exciting project.”

“Next steps include a Pre-Feasibility Study carried out in parallel with mining license, construction and operating permit applications in early 2019,” continued Mr. Akerley. “In addition, we will continueefforts to add resources through follow-up drilling on the Khundii licenses and with further exploration in the highly prospective surrounding district. We will also opportunistically acquire additional licenses in the region as they become available.” Furthermore, the initial capital cost is expected comprise primarily of construction of the process plant and supporting infrastructure. The PEA incorporates the use of a mining contractor utilizing mining equipment, which if purchased outright, would add USD 38 million to capital costs for the life of the mine.

According to statistics, the amount of NPLs drastically surged since October 208. The Bank of Mongolia (BoM) explains that the increase was driven by the Asset Quality Review conducted on commercial banks under the Extended Fund Facility program of the International Monetary Fund. As of 2018, NPLs account for 10.4 percent of gross loans, which is about 8 percentage point higher than the allowed level.

Analysts highlighted the fact that the percentage of NPL to total gross loans entering double-digits means is an alarming signal for the financial system. The BoM highlighted that the NPL constantly grew since 2013, causing reduced credit grants, deepening economic difficulties, and obstructing loan repayments. Thus, the Financial Stability Council of the BoM has ratified a strategic paper on reducing NPLs.

Within the frame, the bank announced to make efforts in optimizing the court-backed forced settlement of NPLs, enhance the efficiency of Law on Bankruptcy, and create a legal environment for non-performing assets market.

Furthermore, the BoM has stated to establish a specialized institution for asset management on its Monetary Policy Guidelines, submitting a bill on Asset Management Firm within its frames. The bill is expected to be discussed this year..

It is the first time the region's foreign trade volume has surpassed 100 billion yuan, according to the customs authorities of Hohhot, the regional capital.

In breakdown, the region's import volume rose 7.5 percent year on year to 65.57 billion yuan, while its export volume reached 37.87 billion yuan, a year-on-year growth of 14.4 percent.

Jiao Zhijun, a regional customs official, said Mongolia, Russia and Australia were the region's major trade partners last year, accounting for 56.2 percent of the region's foreign trade volume.

Jiao added that Inner Mongolia saw its foreign trade with countries participating in the Belt and Road Initiative reach 69.93 billion yuan in 2018, up 14.6 percent year on year.

Steel, organic chemicals, and mechanical and electrical products were among the region's major exports, while its major imports include coal, copper and iron ores.

Korean and Mongolian aviation officials agreed after a series of meetings on Wednesday and Thursday to allow multiple carriers to fly between Incheon and Ulaanbaatar.

The existing bilateral agreement signed in 1991 allows only one airline from each country — Korean Air and MIAT Mongolian Airlines — to operate six flights a week on the route.

With the new agreement, flights to Ulaanbaatar will be increased to nine times a week, starting from late March.