Mongolia

PM’s attempt to quell Mongolia’s ‘coal mafia’ protests drowned out by livid crowds

Anand Tumurtogoo in Ulaanbaatar December 7, 2022

Amid the demonstrations on Ulaanbaatar’s streets Mongolians young and old tell bne IntelliNews of their disillusionment and economic hardship.

Mongolians attempt to storm Government Palace as protests over coal profits scandal swell

Anand Tumurtogoo in Ulaanbaatar December 5, 2022

Majority strived to keep the youth-led demonstrations peaceful, but the bitterness now held towards top officials runs deep and was clear for all to see.

Mongolia protesters demand government name officials accused of thieving state coal export profits

Anand Tumurtogoo in Ulaanbaatar December 5, 2022

Christmas trees burnt down, road blocked in Ulaanbaatar as demonstrators demand details on fate of 44 trillion tughrik, or $12.8bn, in times of economic hardship.

Mongolia to channel natural resource riches into new sovereign wealth fund

Michael Kohn in Ulaanbaatar November 26, 2022

Government plans to transform state miner Erdenes Mongol into SWF tasked with wisely investing coal, copper, gold and other earnings.

Ukraine faces one of worst declines in GDP from a war, says EBRD

Robert Anderson in London November 22, 2022

The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.

EBRD warns of risk of 'zombification'

Robert Anderson in London November 22, 2022

Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.

Mongolians and chess, almost as traditional as herding and wrestling

Antonio Graceffo in Ulaanbaatar November 5, 2022

Traditional Mongolian chess dates back to the Great Mongol Empire. It is thought at least a third of Mongolia’s population know how to play the game.

Plans to imminently sell off third of Mongolia Stock Exchange ‘serious’ says bourse CEO

Michael Kohn in Ulaanbaatar October 31, 2022

Exchange, with average daily trading of $700,000, lately approved for inclusion in FTSE Russell Frontier Index.

Bank IPOs leading the charge for Mongolia’s maturing stock exchange

Michael Kohn in Ulaanbaatar October 20, 2022

Banks aren’t usually the first thing that comes to mind when investors want to plough money into the Mongolian economy; mostly it’s mining. But lately the banking sector has become the focus of attention for IPO-hungry investors.

Mongolia consumers feel weight of inflation as food prices rise

Michael Kohn in Ulaanbaatar October 5, 2022

Each morning, food distributor Suren Bat-Tur goes to the Bars wholesale food market in Ulaanbaatar to purchase produce for resale. Lately, the mushrooms, coriander, tomatoes and other grocery items he buys have hit eye-watering prices.

More pain stored up for Emerging Europe in 2023

bne IntelliNews September 29, 2022

Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.

Could Mongolia host a China-Russia oil pipeline?

bne IntelliNews September 17, 2022

Russia proudly unveiled plans in 2019 to build a second natural gas pipeline to China, this time traversing Mongolia. As the EU drives to sever all energy ties with Russia, Moscow now appears to be pushing for an oil pipeline too.

PANNIER: At Shanghai Cooperation Organisation summit, watch the action on the sidelines

Bruce Pannier in Prague September 13, 2022

Most important discussions and agreements at Samarkand gathering likely to concern regional connectivity, and the odd men out are Russia and Belarus.

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