Mongolian Economy and Finance

  Arkhangai province, Mongolia  — From September 14-23, the Civil Military Support Element of the U.S. Embassy partnered with the National Emergency Management Agency of Mongolia to organize the Khangai-21 Disaster Response Exercise in Arkhangai Province. Working together with Local Emergency Management Agencies from Arkhangai, Bayankhongor, Bulgan, Khuvsgul, Uvurkhangai, and Zavkhan medical and rescue personnel from the U.S. Air Force led training exercises in confined space and high-angle rescue, along with support training in emergency medicine, crisis communications, and emergency management. In addition to the more than 180 Mongolian participants, the defense attachés of Japan, the Republic of Korea, and the Republic of Turkey attended as observers. Due to the risk and frequency of seismic activity in Mongolia, special focus was given to earthquake response in order to help Mongolian rescue personnel better prepare to provide assistance and relief to the people of Mongoli...

  China and Russia are exporting gasoline to Mongolia on an emergency basis to assist the country to cope an energy supply shortage. An oil train departing from China arrived at Mongolia through the China-Mongolia border on Sunday, carrying 2,750 tons of AI-92 gasoline, according to a notice issued by Ministry of Mining and Heavy Industry of Mongolia.  It is also reported that an oil train from Russia has arrived in Altanbulag, Mongolia on Sunday, carrying 1,212 tons of AI-92 gasoline. With the arrival of the oil tankers Mongolia said it will resume the normal supply of gasoline in the country from Monday, Mongolian fuel management authorities announced on Sunday. At the request of the Mongolian government, China is to increase fuel oil exports. Due to the shortage, gas stations in Mongolia have been limiting supply to the public. Mongolia consumes 38,000 to 40,000 tons of AI-92 gasoline each month, with the landlocked nation entirely dependent on outside supply, of which more...

Mongolian Foreign Minister Battsetseg Batmunkh has said that Russia and China are willing to increase fuel exports to the East Asian country to combat the domestic fuel shortage, Mongolian Ikon News reported on Thursday MOSCOW (UrduPoint News / Sputnik - 23rd September, 2021) Mongolian Foreign Minister Battsetseg Batmunkh has said that  Russia  and  China  are willing to increase fuel  exports  to the East  Asian  country to combat the domestic fuel  shortage , Mongolian Ikon News reported on Thursday. Speaking on the sidelines of the 76th session of the  UN  General  Assembly  in  New York , the official told the  news  outlet that both  Moscow  and  Beijing  had promised to ramp up their fuel  exports  to  Mongolia . Mongolia imports roughly 90% of its fuel  from   Russia , with  China  covering the rest. In  April ,  Moscow  decreased f...

The servicemen have also accomplished a complex combat training operation within specified time limits for unloading military hardware from a railway platform and conducted a march about 60 km long to the Doytym An proving ground ULAN-UDE, September 23. /TASS/. The Selenga 2021 international counter-terror drills with the participation of Russian military personnel kicked off in Mongolia, the press office of Russia’s Eastern Military District told TASS on Thursday. "The Russian troops have arrived for their participation in the Selenga 2021 annual joint Russian-Mongolian drills at the Doytym An training ground, and their opening ceremony has been held today. Overall, the exercise will involve up to 1,500 personnel and over 200 items of armament and military hardware from both sides," the press office said in a statement. The servicemen have also accomplished a complex combat training operation within specified time limits for unloading military hardware from a railway platfor...

  Any mention of Mongolia’s candidacy was notably absent from President Khurelsukh’s U.N. speech. Does that pave the way for Japan to win a nonpermanent seat in the U.N. Security Council? September 24 (The Diplomat) The annual U.N. General Assembly is a grand stage for foreign policy announcements, along with the opportunity for world leaders to meet up on the sidelines. This opportunity has been especially meaningful for Mongolian President Khurelsukh Ukhnaa, as he was only elected in June. Khurelsukh has embraced this opportunity for an in-person visit and has been making the rounds in New York to meet counterparts and U.N. officials. His  September 22 speech  to the General Assembly reviewed Mongolia’s relationship with the United Nations. However, he did not mention Mongolia’s candidacy for a nonpermanent seat on the Security Council in next year’s election, suggesting that Mongolia is not actively pursuing election and instead ceding the seat to Japan. Khurelsukh’s s...

The last 60 days have been a brutal stretch for iron investors. As a result of China cutting back on iron ore production as a means of reducing pollution, the iron and steel sectors have both been walloped. Iron ore prices have collapsed about 60% since a record in May. And in less than two months, three of the world's largest ore miners, Rio Tinto, BHP and Vale have lost roughly $110 billion in market value. What can we say? It’s tough being Iron Man. But if you’ve been sniffing around the ore space waiting for the right time to get in, this could be it. China’s restrictions may provide short-term pain for investors, but the planet’s need for iron ore and steel isn’t going away. Here are four iron-related investments that might be worth pouncing on ⁠— maybe even with  your spare change . 1. Rio Tinto (RIO) Rio Tinto, despite its stock being down almost 30% since the end of July, may be the most intriguing option out there. As one of the world’s largest producers of iron ore, Rio’s...

ULAN BATOR, Sept. 22 (Xinhua) -- Mongolia's GDP is expected to grow 4.6 percent in 2021 on the back of continued economic rebound, the Asian Development Bank (ADB) said Wednesday. The latest growth projection is slightly lower than the 4.8 percent forecast by the ADB in April. Major drivers of the country's economic growth include robust export demand, increased private outlays as well as strong economic recovery of its neighbor China, the ADB said in its Asian Development Outlook 2021 Update. "Despite over 65 percent of the country's total population becoming fully vaccinated, public health concerns and economic uncertainty remain high, and Mongolia has faced a significant challenge to mitigate COVID-19 risks to ensure sustainable economic recovery," said Pavit Ramachandran, ADB country director for Mongolia. "Continuing health responses, maintaining macroeconomic stability, ensuring accommodative policies, targeting social protection, and fostering investme...

  The Mongol Empire's way of war proved powerful enough to conquer the whole of China, under the guidance of Kublai Khan and Sun Tzu. Kublai Khan completed the decades-long Mongolian conquest of China in 1279, becoming the first ruler of the Yuan dynasty. Despite a fierce protracted conflict not well-suited for the Mongolian way of war, Kublai Khan still managed to absorb the Song dynasty into his empire, marking the first time in history that the whole of China was conquered and ruled by a foreigner. Perhaps most ironically, the Mongol Empire’s defeat of China was assisted by its acceptance of ideas put forth by China’s most famous military strategist,  Sun Tzu . The Mongol Empire’s China Problem The  Mongol Empire  was established in 1206 by the infamous  Genghis Khan  in the Steppe of Central Asia. At the height of its power, it constituted the largest contiguous land empire in history, covering over 9 million square miles. The conquest of China was the ...

  Researchers have concluded that glass beads excavated from the tomb of a king in Fukuoka Prefecture were likely brought to Japan through the ancient Silk Road trade route network. A group of researchers, led by Tomomi Tamura of the Nara National Research Institute for Cultural Properties, reported the finding at an academic conference held online on Sept. 18. The group analyzed an artifact made of two-layer blue glass beads, discovered from the Hirabaru ruins in Itoshima, Fukuoka Prefecture, in the 1960s. The ruins are believed to be the former tomb of a king of Itokoku, a nation appearing in a Chinese history book known as “Gishiwajinden.” Tamura said the beads found in Itoshima were “likely brought to East Asia through a trade route known as the ‘Steppe Route’ that connects Eurasia’s east and west and passes through Central Asia and the Mongolian plateau.” During a research trip to Mongolia, Tamura noted a similarity in terms of colors and shapes between the beads and an artifa...

  WWII Action Film Begins In Helsinki Principal photography has begun on  Immortal , the World War II action film from  Rare Exports  director Jalmari Helander, in which a man goes to war against the Nazi army in the Finnish wilderness. Starring are Jorma Tommila ( Rare Exports: A Christmas Tale ), Aksel Hennie ( The Martian ), Jack Doolan ( The Hatton Garden Job ) and Onni Tommila ( Big Game ). Filming will take place in Lapland and Helsinki, Finland. Petri Jokiranta and Subzero Film Entertainment produce. Executive producers are Mike Goodridge, Gregory Ouanhon and Antonio Salas. As previously announced, Stage 6 Films acquired worldwide rights, excluding the Nordics, which will be handled by Nordisk Film. Pic is backed by the Finnish Film Foundation, Business Finland – Audiovisual Production Incentive and MTV Cmore. Sony  Pictures &  EbonyLife  Writers Initiative EbonyLife and Sony Pictures Television are launching Alo, a program for writers of Af...

  Three words that come together in what may seem like an alien concept to American audiences: Mongolian. Folk. Metal. But those three words are the defining traits of The Hu Band. Comprised of musicians playing traditional Mongolian instruments along side electric guitars and drums, the band burst onto the music scene in 2018 with their YouTube videos for songs "Yuve Yuve Yu" and "Wolf Totem." Those two videos now have a total of nearly 145 million views combined. "Wolf Totem" reached number one on Billboard's Hard Rock Digital Song sales, becoming the first Mongolian act to top any Billboard chart. They're first album, "The Gereg," arrived in September of 2019, with an expanded deluxe version arriving in July 2020. The band has re-recorded several of their songs as duets with American artists such as Jacoby Shaddix from Papa Roach, From Ashes to New's Danny Case, and Halestorm vocalist Lzzy Hale. After being locked down in Australia...

  In one of the most surprising steel-related commodities markets ever, the price of one key ingredient in the steel-making process, iron ore, is collapsing, while the price of another key element, metallurgical coal, is hitting record levels. In rough terms, about 1.2 tonnes of iron ore and 0.5 tonnes of metallurgical coal are needed to produce one tonne of crude steel. China’s government has targeted the steel industry, which is one of the biggest polluters in the country, reportedly accounting for 10-20% of carbon emissions in China, to reduce overall carbon emissions. Remarkably, the government now wants steel production in the country to be flat to down for the full year 2021, after rising around 12% in the first half of 2021. This of course requires a marked reduction in steelmaking in 2H 2021. (It has the side “benefit” of slowing China’s economy — a goal of the county’s leadership after strong government stimulus-fueled growth put in place to combat COVID-19.) In ...

 September 21 (Hellenic Shipping News) China is seen falling short of 50 million mt of metallurgical coal in 2021 amid rising domestic coking output capacity, sources said Sept. 15. Met coal is a key raw component used in producing steel. In 2021, the country is seen retiring 28.92 million mt of old coking output capacity, and adding 58.575 million mt of new coking production capacity, which translates to a net 29.655 million mt increase in coking capacity this year, latest data by China Securities International, or CSI, showed. Widening deficit China is expected to see a wide deficit for met coal supply in 2021, according to Shenzhen-based brokerage Guotai Junan Securities. This comes at a time when China is vigorously putting effort at dual control of energy consumption and energy intensity, capping production of its high energy consuming domestic steel sector. China has been requesting steel mills to curb their annual production in 2021 either at par, or below, 2020 levels; a mo...