Mongolia building three new roads www.worldhighways.com

Three build-operate-transfer road projects are being planned in Mongolia. The projects will be carried out between 2017 and 2020. One project is for a 272km link connecting Bichigt with Baruun-Urt. Another project will be carried out from 2017 to 2019 and involves rebuilding the 250km road joining Gashuunsukhait with Tavantolgoi. Widening of a 205km road from capital Ulaanbaatar to Darkan is also planned with the link being upgraded to having two lanes in either direction.

China May coal imports from Indonesia, Mongolia jump - customs www.au.investing.com

BEIJING, June 23 (Reuters) - China's coal imports from Indonesia in May rose 24.5 percent from a year ago to 3.86 million tonnes, the highest level since July 2012, customs data showed on Friday.
Mongolian arrivals during May rose 42 percent from a year earlier to 3.16 million tonnes, while supply from Australia, China's largest coal supplier, fell 5 percent from a year ago, the data showed.

Cuba and Mongolia sign Agreement for the Mutual Recognition of Academic Degrees www.misiones.minrex.gob.cu

Ulaanbaatar. June 22, 2017. His Excellency, Mr Gelegpil Chuluunbaatar, Minister of Education, Science, Culture and Sport of Mongolia, signed an agreement on Mutual Recognition of Programs of Studies, Diplomas and Degrees in Higher Education between Mongolia and the Republic of Cuba. On the Cuban side, the Agreement was signed by Cuban Ambassador Raúl Delgado Concepción, who emphasized in his words that this agreement will allow young Mongolian graduates in Cuba to validate their academic qualifications automatically upon their return to Mongolia to begin their professional life.

The Ambassador also pointed out that cooperation in educational matters remains one of the main aspects of the relationship between the two countries, which has allowed more than 160 young Mongols to study different university degrees in Cuba. Of the 20 young Mongolians currently in higher education in Cuba, 19 of them do so in the medical school.
Minister for his part highlighted the results achieved by Cuba in education and said he was happy to be with Cuba with whom he could sign such an important agreement for both countries, which laid the foundations for continuing to strengthen ties of cooperation.
The ceremony was attended representing the Ministry of Education, Science, Culture and Sport of Mongolia, by Mrs. Т.Amarjargalan, Director of Higher Education, Ms E.Enkh-Amgalan, Director of Foreign Cooperation and Ms L.Tsedewsuren , Head of the Department of Administration and Public Management. Representing the Ministry of Foreign Affairs of Mongolia was present Mr. Ganbold, Deputy Director General of the Department of America, Middle East and Africa. (EmbaCuba Mongolia)

Mongolian government starts granting scholarships to Cubans www.montsame.mn

Ulaanbaatar /MONTSAME/ The Mongolian Minister for Education, Culture, Science and Sports G.Chuluunbaatar and Ambassador Extraordinary and Plenipotentiary of the Republic of Cuba to Mongolia Raul Delgado Consepcion signed the Agreement on Mutual Acknowledgement of Tertiary Education Certification and Degrees between the Government of Mongolia and the Government of the Republic of Cuba.

Fed: US banks have money for crisis www.bbc.com

The 34 largest banks in the US have money on hand to withstand a severe recession, the US central bank said on Thursday.

The finding comes from an annual "stress test" conducted by the Federal Reserve.
The tests were put in place after the financial crisis to strengthen financial capacity in the event of a downturn.
Banks have been pushing to relax those rules.
Some said Thursday's results could make it easier to convince policymakers to do so.
"We see today's ... stress test results as a positive for Trump administration efforts to deregulate the banks," Jaret Seiberg, a policy analyst with Cowen & Co, told Reuters.
The Federal Reserve tested to see how banks with $50bn (£39.4bn) or more would respond in the event of a global recession, if unemployment increased to 10% and property values declined.
That would trigger combined losses of nearly $500bn over more than two years - including $383bn from loans - but the firms have enough of a cushion to handle such a blow, the Federal Reserve said.
Since 2009, the 34 firms have added more than $750bn in common equity capital, the Federal Reserve said.
Jerome H Powell, a governor of the Federal Reserve who has urged some regulatory reform, said the tests show that "even during a severe recession, our large banks would remain well capitalised".
"This would allow them to lend throughout the economic cycle and support households and businesses when times are tough," he said.
The firms reviewed included Bank of America, JP Morgan Chase and Wells Fargo.
A second, more closely watched component is due next week.

Unemployed rate decreased to 9.1 percent www.montsame.mn

Ulaanbaatar /MONTSAME/ The unemployment rate of Mongolia reached an all time high of 11.6 percent in the first quarter of 2016 with 143 thousand unemployed people.

Mongolia-Russia strategic relationship expands actively www.news.xinhuanet.com

ULAN BATOR, June 22 (Xinhua) -- The relationship between the law enforcement agencies of Mongolia and the Russian Federation have actively expanded in recent years, said Spokesman of the Parliament of Mongolia Miyegombyn Enkhbold on Wednesday.

Enkhbold emphasized the importance of deepening trade and economic relations between Mongolia and Russia at a meeting with Mukharbek Didigov, deputy chairman of the Federation Council Committee on Defense and Security.
After the formation of a new parliament and a new government following the previous parliamentary elections in Mongolia, bilateral relations between the two countries began to develop more intensively, said Enkhbold.
A number of mutual visits between the sectoral ministries of Mongolia and Russia have been carried out while several documents on expansion of bilateral cooperation were signed.
"All this confirms a new page opened in the strategic partnership between Mongolia and Russia," said Enkhbold.
The main task of law enforcement bodies is to create a favorable legal environment to attract investment, expand business ties and enhance regional and cross-border cooperation between Russia and Mongolia, said Didigov on a working visit at the invitation of the Parliamentary Standing Committee on Foreign Policy and Security.

Rajnath Singh's Mongolia visit postponed www.outlookindia.com

New Delhi, Jun 22 The forthcoming visit of Home Minister Rajnath Singh to mongolia has been postponed as he has suffered a hair-line fracture in the left ankle.

China may finance Russia’s natural gas pipeline to Europe www.rt.com

Gazprom’s Nord Stream 2 pipeline may get Chinese financing if European companies are forced out of the project by the latest round of US sanctions, business daily Vedomosti reports.

Construction of UB - Mandalgobi electric line and sub-station starts www.montsame.mn

Ulaanbaatar /MONTSAME/ Construction of electric line between Ulaanbaatar and Mandalgobi and its sub-station, which targets to export electricity to China, started as the project launching ceremony took place this week. The project will be financed within general loan agreement of USD1 billion between Government of Mongolia and Export-Import Bank of the People’s Republic of China, established on November 10, 2015. TBEA Group of China will construct the line and sub-station as it won the bid.