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.
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.
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.
Most important discussions and agreements at Samarkand gathering likely to concern regional connectivity, and the odd men out are Russia and Belarus.
Country boasts a dozen cryptocurrency exchanges and more than 40 Mongolian virtual coins including the Inflation Hedging Coin, or IHC.
Sri Lanka’s experience has rattled and unnerved some Mongolians who fear the government does not have the solutions to the country’s steep FX debt.
If the UN forges ahead with its target to achieve net-zero emissions by 2050, minerals will become an increasingly valuable resource. The world seeks to switch from a fuel-intensive energy system to a mineral-intensive one and copper is key.
The half-brother of ousted UK Prime Minister Boris Johnson says he will bring a $50mn lawsuit against Mongolia to try to recover an investment into a mining project that went horribly wrong.
Former Mongolian PM criticises own party for lack of transparency about upcoming joint military exercise.
Stagflation is here. The world is facing a global recession that could go on for several years as central banks everywhere will be forced to put through growth-crushing large rate hikes to control runaway inflation. But just how bad is it now?
PlanTFarm will create and operate indoor vertical farms to grow fresh vegetables in Mongolia after Ukraine war highlighted the importance of food self-sufficiency.
The ancient festival initiated by Ghengis Khan in 1206 and commemorating the “three sports of men” — archery, horseracing and Bökh wrestling — is back after two years of pandemic disruption.