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.
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.
Government plans to transform state miner Erdenes Mongol into SWF tasked with wisely investing coal, copper, gold and other earnings.
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.
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.
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.
Exchange, with average daily trading of $700,000, lately approved for inclusion in FTSE Russell Frontier Index.
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.
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.