Ulaanbaatar /MONTSAME/ The Bank of Mongolia and the People’s Bank of China have agreed to extend the local currency swap line during the meeting between Deputy Governor Lkhagvasuren Byadran and Deputy Governor Yi Gang on February 22, 2017 in Beijing, the People’s Republic of China.
Ulaanbaatar /MONTSAME/ The Economic Standing Committee of Parliament has established a working group to examine Bank of Mongolia activities in 2012-2016. The working group will hold examination from February 23 to April 30, inspecting results of its programs, projects and actions including ‘Price stabilization program’ as well as its loss, and make conclusion, said MP T.Ayursaikhan.
Ulaanbaatar /MONTSAME/ On February 23, Gobi Corporation and Erdenet Carpet Company were awarded the “State Gerege” - high state prize for best national developments. The ceremony was held this morning at the State House in Ulaanbaatar.
Ulaanbaatar /MONTSAME/ In January 2017, Mongolia traded with 99 countries and total trade turnover reached USD 705.7 million, of which USD 428.5 million were made up by exports and USD 277.2 million by imports.
Ulaanbaatar /MONTSAME/ At the end of January 2017, the non-performing loans at the level of the bank system reached MNT 1056.2 billion, up by MNT 4.5 billion (0.4 %) from the previous month and by MNT162.2 billion (18.1%) compared to the same period in 2016.
Ulaanbaatar /MONTSAME/ In January 2017, 1622.1 thousand tons of freight and 207.8 thousand persons (double counting) were carried by railway transport.
Ulaanbaatar /MONTSAME/. On February 21, a seminar was held at the National Chamber of Commerce and Industry to discuss the expansion of Mongolia-Japan trade in connection with bilateral Economic Partnership Agreement taking effect.
Ulaanbaatar /MONTSAME/ On February 21, Bank of Mongolia held its regular foreign exchange auction and bought USD16.0 million with a closing rate of MNT2482.00.
Ulaanbaatar /MONTSAME/ On February 17, Ulaanbaatar Railways JSC (UBTZ) and Northern Railways LLC signed a memorandum of understanding to progress a number of key commercial agreements required to support construction funding of the Erdenet to Ovoot Railway. These include the commercial terms upon which the Erdenet to Ovoot Railway users can access the UBTZ line to move freight through to end markets in Mongolia, south to China or north to Russia.
Ulaanbaatar /MONTSAME/ Economic Partnership Agreement between Mongolia and Japan entered into force in June, 2016 and as a first result of the agreement trade turnover has been growing.
Ulaanbaatar /MONTSAME/ Tavantolgoi JSC, listed on the Mongolian Stock Exchange (MSE), has released its annual report for 2016. The company made revenue of MNT 176.5 billion, and net profit of MNT 54.04 billion in 2016.