Mongolia

Mongolian government accused of rushing through veiled law that dismantles freedom of speech

Anand Tumurtogoo in Ulaanbaatar January 24, 2023

Ministers say legislation will end much social media harassment. Critics reject that explanation. Say country’s young, fragile democracy will be hurt.

Russians escaping Putin’s war face tough sanctuary in Mongolia

Antonio Graceffo in Ulaanbaatar January 23, 2023

While some can afford to move on, there are thousands struggling to find workable employment prospects to put a roof over their head.

EBRD invests record €13.1bn into its region in 2022

bne IntelliNews January 15, 2023

The European Bank for Reconstruction and Development invested a record €13.1bn into its Emerging Europe and Eurasia region in 2022, the bank announced on January 12.

Wrestling champ turned mayor grapples with tough challenges in Mongolia’s capital

Michael Kohn in Ulaanbaatar January 14, 2023

To overcome deep scepticism in Ulaanbaatar about politicians, Sumiyabazar Dolgorsuren will need Olympic strength and strategy.

Police raid on home of Mongolian rail official said to discover $2mn of cash in four currencies

Anand Tumurtogoo in Ulaanbaatar January 12, 2023

Investigators probe money laundering, tax evasion, unjustified enrichment and bribery allegations.

NEMETHY: Key economic and financial drivers to watch in 2023

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors January 10, 2023

There is an old joke that the role of economic forecasters is to make astrologers look good. Forecasting GDP or inflation for the upcoming year with any degree of accuracy is virtually impossible, but there are some scary signs appearing.

CENTRAL ASIA BLOG: Air thick with disapproval of government as Mongolians welcome in new year

Anand Tumurtogoo in Ulaanbaatar January 4, 2023

The coal mafia affair meant the new year wishes proffered by the ruling politicians rang rather hollow.

Mongolian Stock Exchange floats 34% of shares in public offering

Michael Kohn in Ulaanbaatar January 2, 2023

Thirty years ago the Mongolian Stock Exchange was opened up to privatize the country’s Soviet-era assets. Last week the exchange conducted an initial public offering to sell off a third of its own shares to the public.

When China sneezes, the Mongolian economy catches a cold

Antonio Graceffo in Ulaanbaatar December 28, 2022

Chinese slowdown means fewer resource exports for Mongolia. It’s a grievous blow.

Trade journal pulls article describing claim Mongolian airline flew military gear from China to Russia

bne IntelliNews December 16, 2022

Eznis Airways says it is victim of smear campaign. Mongolia’s civil aviation authority says no such flight took place.

Emerging Europe’s greatest scams

bne IntelliNews December 16, 2022

As Mongolians protest against the alleged embezzlement of up to $12.8bn in state coal export revenues, bne IntelliNews takes a look at the other greatest scams in the region over the last three decades.

Start of a new super cycle – fat and flat for 2023?

Ben Aris in Berlin December 15, 2022

The global economy has been through some enormous changes in recent years, leading investors and analysts to believe we are at the start of a new high-inflation, lower-growth super-cycle that could last for as long as a decade.

IMF: Global food prices to remain elevated amid war, costly energy, La Niña.

Ervin Prifti . December 14, 2022

Interest rate hikes have eased price pressures, but the weather, war and material costs could keep food prices elevated for longer,

Mongolia to take public company at heart of coal mafia corruption scandal

Anand Tumurtogoo in Ulaanbaatar December 14, 2022

Hundreds of protesters still gathered in central Ulaanbaatar. Names given by authorities so far in investigation “just scraps”, many complain.

IMF: Riding the global debt rollercoaster

Vitor Gaspar Paulo Medas and Roberto Perrelli for the IMF December 13, 2022

Global debt remained above pre-pandemic levels in 2021 even after posting its steepest decline in 70 years, underscoring the challenges for policymakers.

NEMETHY: The case for gold today – again

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors December 12, 2022

In April 2021 gold was sitting around a price of $1,700; as of December 10, 2022 it is now approaching $1,800. Relative to just about every other asset class, this is not a bad performance.

Mongolian government offers more concessions on probe into coal mafia said to have embezzled billions

Anand Tumurtogoo in Ulaanbaatar December 10, 2022

Ninth day of street protests over scandal took place in Ulaanbaatar.

Mongolia’s coal mafia demonstrations continue for fifth straight day

Anand Tumurtogoo in Ulaanbaatar December 8, 2022

Minister informs crowd former CEO of state coal miner and seven others have been arrested. Protests grow after he concludes his address.

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.

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