Mongolia's central bank launches campaign to increase gold reserves www.xinhuanet.com.cn

ULAN BATOR, June 5 (Xinhua) -- The Bank of Mongolia said Tuesday it has launched a campaign "National Gold to the Fund of Treasures" within the framework of the "Gold-2" national program.

Petro Matad swings to loss following Mongolia drilling delay www.sharesmagazine.co.uk

Mongolia-focused oil explorer Petro Matad swung to an annual loss following drilling delays.

World Bank to support Ulaanbaatar City on Municipal Transport Asset Management www.montsame.mn

Int'l military drills kick off in Mongolia www.xinhuanet.com

ULAN BATOR, June 4 (Xinhua) -- An international military exercise, codenamed Gobi Wolf 2018, began on Monday in Mongolia's western province of Khovd.

Gobi Wolf 2018 is a five-day disaster response exercise and exchange event between the government of Mongolia and U.S. Army Pacific focused on interagency coordination.

Mongolia's National Emergency Management Agency (NEMA) has hosted Gobi Wolf with support from Mongolian armed forces and conducted joint exercises with the U.S. Pacific Command since 2009, except for the years of 2013 and 2014, covering disaster scenarios common to Mongolia including earthquakes, floods and mining incidents, the NEMA said in a statement on Monday.

This year's exercise is co-organized under the theme "Organizing regional management and interaction" and in two stages, including classroom training and practices in replicated real-world situations.

The exercise will involve more than 650 participants, including those from Mongolia, the United States, international organizations, and embassies of France, Sri Lanka, Britain, Canada, South Korea, Australia, Japan, Thailand and Nepal to Mongolia.

During the exercise, the participants will share experiences and organize comprehensive training on search-rescue operations in swift river current and mountain bumps with the help of military dogs and emergency medical attention to disaster victims.

In addition, the training will be held on mobilizing women toward greater preparation in facing disasters and emergency situations.

Mongolia-Russia Initiative 2018 to take place in Ulaanbaatar www.montsame.mn

Ulaanbaatar /MONTSAME/ A series of events ‘Mongolia-Russia Initiative 2018’ is to take place on June 7-9 in Ulaanbaatar, aiming at developing and strengthening trade, economic, industrial and investment cooperation between Russia and Mongolia.

UB Railway denounced for money laundering scandal www.zgm.mn

Ganzorig Bor, Chairman of the Board of “Uls Turch” (translation: Politician) media outlet, held a press conference yesterday, announcing that they have issued a request to the Independent Agency Against Corruption to inspect the Chairman of Ulaanbaatar Railways JV (UBRW) Jigjidnyamaa Damdinsuren and Deputy Minister of Road and Transport Development Tsogtgerel Batchuluun. The media outlet suspects the two people for a potential money laundering, claiming that they have abused their power and imported nearly a thousand units of scrap wagons. Ganzorig Bor remarked, “These two people have purchased 977 units of over 20 years old decommissioned wagons manufactured in Russian Federation between 1992 and 1995, at MNT 26 billion on August 23, through a UK based company Max Bridge Logistics L.P, which is registered in an offshore country Dominican Republic.” He added that UBRW is currently using over 6 hundred of these decommissioned wagons and some of them are already damaged and unserviceable. He further claimed that Tsogtgerel Batchuluun encouraged the irresponsible act instead of stopping it. UBRW also brought in two rail repair trucks for USD 5.6 million in 2014; however, they have never been used, and the company bought another truck of the same model for USD 1.7 million in 2017. Mr. Ganzorig Bor revealed that the market price of this truck is around USD 900 thousand, which begs the question of the remaining fund of USD 770 thousand. He then underlined that the 50 percent of prepayment transaction of these rail repair trucks were conducted through LordWest Trade L.P, a Dominican company, further claiming that both MaxBridge Logistics L.P and LordWest Trade L.P are owned by a single person.

Agreement established to improve regulation of coal transportation www.montsame.mn

Ulaanbaatar/MONTSAME/ Last weekend, the National Auto Transportation Center (NATC) and Tavantolgoi Company established a cooperation agreement with a purpose to upgrade regulations of coal transportation.

S.Batbold: Highway to be built within Silk Road project www.montsame.mn

Ulaanbaatar /MONTSAME/ Governor of the Capital City and Mayor of Ulaanbaatar S.Batbold attended ‘Business Breakfast’ meeting today held by the Mongolian National Chamber of Commerce and Industry.

Belarus suggests developing dairy cluster in Mongolia www.eng.bela.by

MINSK, 4 June (BelTA) - Belarus can develop a dairy cluster in Mongolia, Belarus Prime Minister Andrei Kobyakov said as he met with Mongolia's Minister of Foreign Affairs Damdin Tsogtbaatar, BelTA has learned. “Given the attention that the governments of our countries attach to agriculture, cooperation in crop production, animal husbandry, and veterinary medicine holds great promise. Currently, we are studying the possibility of implementing a comprehensive project to set up Mongolia's first dairy cluster, Andrei Kobyakov said. The Belarusian side is also ready to share modern storage, processing and agricultural production technologies. Moreover, Belarus would like to increase supplies of farm machines and special-purpose equipment, and also passenger buses, utility vehicles, equipment and technologies to Mongolia. The prime minister suggested industrial cooperation projects. The Belarusian side is ready to set up joint ventures with Mongolian partners to produce machinery engineering goods. There is a mutual interest in cooperation in the prevention of emergency situations, and humanitarian cooperation: science, education, culture and sport. Andrei Kobyakov stressed that Belarus pays special attention to the development of relations with countries in the Asia-Pacific region and considers Mongolia as a promising partner. “In 2017 we marked the 25th anniversary of the establishment of diplomatic relations between our two countries. It is safe to say that for the past quarter of a century we have maintained the ties of friendship, mutual respect and partnership, thus laying a good foundation for comprehensive cooperation in the future,” the Belarusian head of government said. “It is obvious that there are many untapped opportunities for cooperation between the two countries and the goal of the two governments is not to miss them, to create the conditions for turning them into specific mutually beneficial economic projects. We are prepared to discuss any areas of cooperation,” Andrei Kobyakov said. Mongolia's Minister of Foreign Affairs Damdin Tsogtbaatar noted that Mongolia values its long-standing relations with Belarus, and is ready to further develop cooperation.

Japanese Wallet Firm Buys Mongolian Mine, SBI Exchange Launched? www.cryptonews.com

Two Japanese companies announced its crypto business expansion news. Cryptocurrency wallet provider Ginco will move into the cryptocurrency mining industry, and has established a base in Mongolia. Meanwhile, financial giant SBI Group has finally showed its long-awaited cryptocurrency exchange platform.