The value of Bitcoin continued to fall over the weekend as it dropped below $34,000 (£27,630), according to the Coinbase cryptocurrency exchange.

The world's largest cryptocurrency by market value has now fallen by 50% since its peak in November last year.

The slide in the value of digital assets comes as stock markets around the world also dropped in recent days.

On Monday, some Asian markets headed lower again with Japan's benchmark Nikkei index down by around 2.5%.

Bitcoin accounts for about a third of the cryptocurrency market with a total value of close to $640bn.

Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 10% in the last week.

Although much of 2022 had been relatively quiet for the cryptocurrency market, volatile trading in digital assets has not been that unusual in previous years.

Trading was dominated for years by individual investors, but more recently the market has seen an influx of professional investors, such as hedge funds and money managers.

With more traditional investors trading digital assets, cryptocurrencies have increasingly followed the movements of global stock markets.

Many of the institutional investors that buy cryptocurrencies treat them as risk assets, similar to technology stocks.

In times of market uncertainty traditional investors will often sell what they see as riskier assets and move their money into safer investments.

Last week, central banks around the world, including the US, UK and Australia, raised interest rates as they attempt to tackle rising prices.

The US Federal Reserve raised its key lending rate by half a percentage point, marking its biggest rate hike in more than 20 years.

That has triggered more concerns among some investors that inflation and the higher cost of borrowing could have a major impact on global economic growth.

Investors are also worried about the impact of the war in Ukraine on the world economy.

Meanwhile, in the last year Bitcoin has become legal tender in two countries - El Salvador and the Central African Republic.

Since El Salvador said it would allow consumers to use the cryptocurrency in all transactions, alongside the US dollar, the International Monetary Fund has urged it to reverse its decision.

Teddy Riner, who has won three Olympic gold medals (two individual, one team) and two bronze medals, ten gold and one silver medal at World Championships, and five gold medals at European Championships, is conducting joint training along with his national judo team members for the third time in Mongolia.

During one of the training sessions held at the Mongolian Judo Association’s national team hall, the French judo athlete gave an interview.

-What is the purpose of the joint training being conducted in Mongolia?

-I am very well received by the Mongolian athletes and people. I also like the training environment that is used for the joint training. As Mongolian athletes conduct their training intensively, I am visiting Mongolia for the third time to take part in it.

-Is there anything specific that you want to learn from Mongolian wrestlers during the training?

-Mongolian judo athletes have a great fighting spirit. It is for this exact reason that I came to Mongolia – to bring my fighting spirit to its former state.

-Who would you say is your current strongest opponent in the weight class?

-From my experience, all the athletes in my weight class have been the best wrestlers in their respective country. So I have to use all my strength when facing against all of them.

-What is the secret of your many years of success?

-I don’t have any secrets for it. I believe that it is possible to achieve success as long as you are able to think quickly.

-Are you confident that you will become the champion of the Paris Olympics?

-Yes, I am confident about it. If I did not have the confidence, my team would have already taken a break.

-Prior to the Paris Olympics, there will be two World Championships as well as a series of tournaments organized by the International Judo Federation (IJF). In which ones do you plan to participate?

-Currently, I am planning to test my strength at a World Championship and a European Championship tournament.

-Some say that the Paris Olympics may be the last Olympic Games you will compete in. Do you have anything in mind for what you want to do afterwards?

-Yes, it will be the last Olympic Games that I will compete in. After the event, I will spend as much time with my family as I have so far in order to reach the point where I am currently. I have also launched my own business that I will continue to work on after my judo career. It is a judogi (judo uniform) brand called ‘Fightart’, officially certified by the IJF.

-Do you have children? If so, do they also train judo?

-Yes, I have a son and a daughter. Both of them have already started to train judo.

Chairman of the Mongolia-ROK Parliamentary Group MP J.Munkhbat and MP G.Munkhtsetseg held a meeting with Member of the National Assembly of the Republic of Korea Kim Young Joo on May 5.

During the meeting, Assemblywoman Kim Young Joo shared her country's experience in implementing major infrastructure projects and programs in harsh climate conditions and expressed readiness to cooperate in the fields of transportation, logistics, and construction.

In turn, MP J.Munkhbat expressed satisfaction with the current development of bilateral relations in all social and economic spheres and the strengthening of the people-to-people relations, while voicing willingness to cooperate in establishing satellite city as well as introducing South Korea’s experience and advanced technology.

For her part, MP G.Munkhtsetseg expressed interest in learning from the ROK’s experience in the field of environment and ecology, especially in solving groundwater problems and using new technologies in gardening.

We took an interview from Ambassador Extraordinary and Plenipotentiary of Hungary to Mongolia Dr. Borbala Anna Obrusanszky regarding Mongolia-Hungary relations and cooperation.

-How did you initially feel when you were appointed as the Ambassador to Mongolia?

-First of all, I am very happy to be representing my home country in Mongolia. My prior knowledge of the Mongolian language, history, and culture is helping me a lot in carrying out my duties as an ambassador.

-Hungarians and Mongolians are considered to be of the same origins. Quite a few words in Magyar, Mongolian, and Turkic languages are said to be similar. Could you tell us more about this?

-There are numerous chronicles about the reign of Hungarian kings during the Middle Ages, which tell about Hungarians being descended from the Hunnu people (Huns). Furthermore, one can come across certain information related to this from the people’s traditions. Results of historic and archeological studies and research have also proven how some groups of Huns that arrived in Europe from Mongolia once lived in the territory of modern Hungary.

Today, there are about 2,000 words that are similar in the lan­guages of Hungarian and Mongolian. One of Hungary’s well-known researchers, Bálint Gábor of Szentkatolna, had referred to it as the linguistic heritage of the Hunnu people.

In recent years, researchers of Hungary and the UK carried out a study on genetic links. However, it continues to be necessary for the ethnographic field to study many other similarities.

-Mongolia-Hungary rela­tions go back very early in history. What kind of artifacts are currently being kept in relation to the history of Mongolia?

-Hungarian travelers and clerics visited the territory where the Mongols resided during the Middle Ages. There are records of Mongols arriving in the European region in 1236. When Dominican friar Julianus went on a journey to meet with Magyars (Hungarians) that were left behind in Eastern Europe. During this journey, he reached the Volga River where he learned about a new empire called the Mongol Empire. In 1237, he wrote a full report titled ‘Epistola de vita Tartarorum’ about the empire’s people, and sent it to the Roman Pope. The report has recently been translated into Mongolian, and published in a scientific journal in Mongolia. It includes the letter sent by Batu Khan to King Béla of Hungary.

Bálint Gábor thoroughly stu­died the Mongolian language in 1870-1874, and later became one of the first Mongolists to visit Kalmykia and modern-day Ulaanbaatar. In 1877, Hungarian Count Béla Széchenyi organized a scientific expedition in Inner Mongolia and Northern China, while Count Jenő Zichy also organized an expedition which involved working in the territory of modern-day Ulaanbaatar over the course of a week. Collections in Hungary currently keep the documents and photographs from the journeys, awaiting to be further studied.

-The Mongol studies scene in Hungary is one of the largest research centers not only in Europe but also in the world. How has been the development of the Mongol studies field in Hungary recently?

-There are several institutions and organizations conducting studies about Mongolia in Hungary. Mongolian language courses are offered at three universities at the moment. The Institute of Mongolian Studies in Budapest mainly carries out studies and research on Buddhism and linguistics, while the Research Center for The Humanities at the Hungarian Academy of Sciences is studying artifacts tracing back to the Khitan Empire. Recently, an exhibition introducing Mongolian art and culture was also opened at the Ferenc Hopp Museum of Asiatic Arts in Budapest city.

In 2021, the Hungarian Research Institute and the Mon­golian Academy of Sciences renewed their cooperation, launching a joint archeological research project–which has become a new element in the field and a promising research work. The joint research project will continue to be implemented this year.

-In recent years, the two countries are actively working to expand bilateral relations and cooperation. What other new opportunities do you see for the development of coo­peration in the field?

-Regardless of the COVID-19 pandemic, we actively worked to expand the Hungary-Mongolia cooperation in all sectors, reaching a certain result. In the field of culture and science, our Embassy has restored its traditional cooperation with Mongolian cultural and scientific organizations and established effective relations.

Scientific academies of the two countries have been cooperating for a long time, but joint research projects were relatively limited. In the spring of 2021, we renewed the agreements established between the Archaeological Institutes. With aims to support bilateral scientific cooperation, a meeting was organized for authorities of the scientific institutes that implemented joint projects with Hungary in November 2021 as part of the Hungarian Science Festival. The two sides are willing to implement joint projects and programs, and we saw the need for cooperation between the institutes. In this time where bilateral scientific relations are expanding, I am confident that Mongolian doctoral students who are studying in Hungary will play a decisive role.

-Since the beginning of this year, the two sides signed several major documents, including a Memorandum of Understanding on jointly creating film, film studios and training...

-Cooperation in the film industry is one of the main cultural cooperation fields of our two countries. Within this frame, we aim to implement some projects. It is possible to make international feature and documentary films showing the shared history between the Hungarian and Mongolian peoples. Also, we are ready to share our experience in film arts.

The first Hungarian-Mongolian-British film, co-produced by the three countries, is expected to be screened later next year.

-Scholarships of the Hungarian Government for Mongolian students play an important role in strengthening mutual understanding. The President of Mongolia emphasized the importance of continuing this program?

-Since 2016, the Government of Hungary has been providing scholarships to 200 Mongolian students each year. The ‘Stipendium Hungaricum’ program is becoming very popular among students, with over 900 students applying this year. Moreover, our Embassy is working to create opportunities for Hungarian and Mongolian students and researchers to have mutual learning and training as part of the cooperation between universities.

-What cultural programs are being planned in the near future?

-We will be organizing the ‘Cultural Days of Hungary’ in Ulaanbaatar on May 13-14. During the event, Hungarian folk song, music and dance perfor­mances will be presented. There is also a great opportunity for us to show the Hungarian Oscar-winning film in cinemas and cook traditional food. We get a lot of help from Hungarian alumni in Mongolia and I would like to use this opportunity to express gratitude to them.

-What do you think are the opportunities for developing economic relations and cooperation between Mongolia and Hungary?

-When the Hungarian Embassy in Mongolia closed in 2006, many valuable business relations were severed–so that relationship needed to be rekindled. Since my appointment as Ambassador, the volume of exports from Hungary to Mongolia has increased significantly as a result of the efforts of our team.

Last year, the figure was at 58 percent. I am confident that bilateral cooperation will continue to expand. Recently, we have been building relations between companies on trading wool, cashmere, and raw materials that are of interest to Hungary.

-What is the current progress on launching regular direct flights between the two countries?

-Air transport negotiations between the two countries are underway. After that, it is up to the airlines to decide whether to operate flights. With nearly 2,000 students and thousands of Mongolian people living in Hungary, I believe it may be worth considering the new route.

-Are there any high-level visits planned in the near future?

-As Mongolia always occupies an important position in Hun­gary’s foreign relations, the relations will be further strengthened. The Hungarian side hopes to continue holding high-level and sectoral meetings as well as regular meetings of government commis­sions.

The two countries work together in many fields. We hope that economic cooperation, such as in food and agriculture, water management, light industry, and pharmaceuticals, will play an even more important role in the future. However, we also want to further develop our cooperation in other fields, such as culture, science, and higher education, based on promising fields such as cinematography and archeology.

-I am confident that your first impressions of Mongolia and the Mongolian people will be interesting for our readers.

-Since I traveled to Mongolia in 1993, I have been connected with the country for almost 30 years now. As far as I know, Mongolians are very hospitable people, we have a lot in common, and maybe that's why I got used to life in Mongolia very easily. Like our Hungarians, the people are able to quickly learn, and adapt to new technologies. I love traveling to the countryside to explore Mongolia's unique natural formations and cultural treasures. I also recently wrote and published a handbook for Hungarians called ‘Mongolian Tourism’.

It is always great to look back on my university years. Mongolian and English students and teachers back then were very helpful and I was able to easily overcome the difficulties related to my studies. Thanks to these fond memories, I always see Mongolia in a positive light.

But there are also problems for foreigners coming here to work. Harsh weather is one of the difficult challenges people face. It is also difficult for foreigners to get used to fatty meat and foods, but fortunately, Mongolian food has changed for the better in the last decade. The only thing that is hindering our work now is traffic congestion. As congestion "steals" many hours of a person's life, I personally want the issue to be addressed in the near future.

The interview was published in the Mongol Messenger weekly newspaper on May 6

For more than a month, Sandeep Mall's engineering goods factory next to the Indian capital, Delhi, has been facing crippling power cuts, sometimes up to 14 hours a day.

The 50-odd machines in the factory located in a major manufacturing hub in Faridabad make products for aeronautics, automobile, mining and construction industries.

"Every time the power goes off, the machines stop, the semi-finished products get rejected and we have to start all over again," Mr Mall says.

That happens when he fires up diesel-powered generators to keep the factory running. He says it is three times as expensive to run it on diesel than what he pays to the local power transmission authority.

"This erodes my competitiveness, cuts into my profits. It's a complete mess, and is very frustrating," Mr Mall says.

"These are the worst power cuts I have faced in over a decade."

Beginning in April, power cuts and outages have rippled across India, slowing factories, closing schools, and sparking demonstrations. Two in three households said they were facing power outages, according to more than 21,000 people in 322 districts surveyed by LocalCircles, a polling agency. One in three households reported outages of two hours or more each day.

At least nine states, including Haryana, where Mr Mall's factory is located, are suffering from prolonged outages. The main reason why electricity is in such short supply is a shortage of coal.

India is the world's second-largest producer and consumer of coal. The fossil fuel keeps the country's lights on: three-quarters of the electricity produced uses coal. India sits atop the world's third-highest reserves of coal and boasts of the world's largest coal mining company but per person consumption is still modest.

Why India can't live without coal

India imports a little under a quarter of its consumption: much of it is coking coal which is used in blast furnaces for making steel and is not available domestically. Yet there are perpetual shortages.

Last October, India teetered on the brink of a power crisis when stocks at more than half of the country's 135 coal-fired plants ran critically low, or below 25% of normal levels. Now coal stocks are said to be critically low in 108 of its 173 power plants. The war in Ukraine means global prices of coal and natural gas have soared, making imports unaffordable.

"This crisis is worse than what it was last year as the demand is actually high. A perfect storm has built up now, and there are many reasons to blame," says Rahul Tongia, a senior fellow with the Centre for Social and Economic Progress (CSEP), a Delhi-based think tank.

Average temperatures in northern and central India have been the highest in more than 120 years

An earlier-than-expected searing heatwave - average temperatures in April in northern and central India were the highest in more than 120 years - has pushed demand for electricity to record levels. This came on top of an uptick in demand following the reopening of the economy after two years of pandemic lockdowns.

Also, India's railways were again carrying more passenger traffic on shared tracks with freight, leading to fewer wagons hauling coal across the country.

India says coal will be mainstay in leaked report

"It is not that India is running out of coal in an absolute sense. We are essentially facing a stockpile problem, and it is not new. We have a system designed around managing scarcity and linkages. It's not designed for efficiency, nor for proper risk allocation," says Mr Tongia.

Demand for electricity is seasonal, and building a stockpile costs more money and is time-consuming, experts say. India has traditionally reinforced supplies by importing coal. "One cannot easily fix under stock-piling over months with over-supply," says Mr Tongia.

The government says it is doing all it can do to ensure supplies. Coal India, the world's largest coal miner, has increased production by 12%, "strengthening India's energy security", according to the federal coal ministry. It also despatched 49.7 million metric tonnes of coal to the power generating companies in April, a 15% rise over the same month last year. The railways have cancelled more than a thousand passenger trains to transport more coal to fuel-starved plants.

Coal generates ample revenues for the federal and state governments. But the "dysfunctional" relationship between coal and electricity in India doesn't help matters, according to Daljit Singh, an energy expert at CSEP. India's power plants procure coal "through multiple channels with a bewildering array of pricing regimes", he says.

The price that a plant pays for the same coal at the same location could vary, depending on whether the plant is owned privately or by the government, the date when it was commissioned and the existence of "power purchase agreements" with a large number of electricity distribution companies, many of which are groaning under debt.

"The approach is tilted in favour of power plants owned by the governments," he says.

Wind and solar now supply 10% of world electricity

The railways, which is India's largest employer, over-charges on ferrying coal - the largest commodity it hauls - to keep passenger fares down. This is just one example, says Mr Tongia, "of numerous distortions that create winners and losers in the coal ecosystem, making change much harder than what it would be based solely on the fundamentals".

India has promised to increase renewable-energy capacity to 450 gigawatts by 2030 to help wean itself off the dependence on coal. "But the rise of renewables hasn't been sufficient to end the growth of coal. India's priority should be to clean up its coal instead of wishing it away, says Mr Tongia. Yet, India's coal is high in ash - about 35% or more - which makes it very polluting. Coal emissions, according to Greenpeace, kill more than 100,000 Indians every year.

Back in Faridabad, Mr Mall says he has never seen a single day of uninterrupted power supply ever since his small factory began operations 27 years ago. But the ongoing blackouts has left him completely exhausted.

"This is no way to do business. After the jobs we generate and taxes we pay, this is what we get?"

Mongolia exported a total of 3.8 million tons of coal in the first four months of this year, down 48 percent year on year, Mongolian Customs General Administration said on Monday.

The significant decrease is related to border restrictions due to the COVID-19 pandemic, it said.

Coal is Mongolia's main export commodity.

Mongolia has planned to export at least 36 million tons of coal in 2022, according to the authority.

The Asian country, which is rich in natural resources, exported 15.9 million tons of coal in 2021, down 44.3 percent year on year, according to Mongolian Ministry of Mining and Heavy Industry.

38 new COVID-19 infections have been detected in Mongolia in the past 24 hours, according to the country's health statistics database.

31 of them were recorded in Ulaanbaatar, and 7 cases were detected in regions of the country.

One death linked to the coronavirus was registered in Mongolia during the day. The death toll from COVID-19 reached 2,111.

China has released a batch of datasets from the payloads installed on Chang'e-5 probe, according to the China National Space Administration on Saturday.

The payloads include a landing camera, a panoramic camera, a lunar mineralogical spectrometer and a lunar regolith penetrating radar, said the CNSA.

Public users can visit the website of China's Lunar and Planetary Data Release System (http://moon.bao.ac.cn) to obtain the datasets, the CNSA added.

The Chang'e-5 probe, comprising an orbiter, a lander, an ascender, and a returner, was launched on Nov 24, 2020. The return capsule landed in north China's Inner Mongolia autonomous region on Dec 17, 2020, retrieving a total of 1,731 grams of lunar samples, mainly rocks and soil from the moon's surface.

With a soft loan of USD 41 million for financing, the World Bank, the International Development Association, and the Government of Mongolia are jointly implementing the Ulaanbaatar Heating Sector Improvement Project from 2021 to 2025. Construction works to be carried out in the framework of the project kicked off at ‘Thermal Power Plant-3’ JSC on May 5.

The project’s implementation is expected to ensure the completion of the government’s mid-term program for the energy sector. More specifically, the project will create the technical capacity to have apartment complexes and facilities, that are planned to be built as part of the plans to redevelop ger district areas in the capital city, to be connected to central heating. It will also improve the stable operations of the central heating system, highlighted Minister of Energy N.Tavinbekh.

The Government of Mongolia is paying special attention to energy production, supply, and investment in strategically important sectors. As the number of Ulaanbaatar city residents continue to grow, thermal power usage has been increasing by 5-6 percent each year.

Country Manager for World Bank Andrei Mikhnev highlighted that the Ulaanbaatar Heating Sector Improvement Project aims to extend the central heating system and improve its efficiency.

Studies have found that it will become possible for about 10 thousand more households to be connected to the central heating system, and 347 MW of thermal power to be saved once the project is completed.

Furthermore, the efficiency of heat supply is expected to be improved as the capacity of pipelines will be increased by 1.5 times, and water loss within the system is reduced by 1.2 percent through the project.

With a focus on ensuring the sustainability of the heating system, the project will also create an opportunity to eliminate the usage of small coal-fired boilers, reducing coal and carbon emissions substantially.

In the framework of the project, 12.8 km of pipelines located in six districts of the capital city will be replaced, and construction work will be carried out for the extension of three pumping stations.

Speaker of the State Great Khural G.Zandanshatar received Member of the National Assembly of the Republic of Korea Kim Young-joo on May 5.

Director of the Parliamentary Research Institute at the Secretariat of the State Great Khural Ts.Tsogzolmaa, Head of the Representative’s Office of the Korea Trade-Investment Promotion Agency (KOTRA) Min Seong-muo, and representative of business owners in the construction, infrastructure, and public transportation sectors of South Korea were present at the meeting.

Member of the National Assembly Kim Young-joo, who previously served as the Minister of Employment and Labor of the ROK, puts special emphasis on expanding regional foreign relations and cooperation in a wide range of areas, encouraging woman’s participation and leadership in society.

Within the framework of her visit, the South Korean parliament member put forward numerous initiatives to support and cooperate with women, including the members of the Social Democracy Mongolian Women's Association, and expressed commitment to organizing joint training on the target topic.

The KOTRA representative also suggested strengthening multilateral economic cooperation and effectively implementing projects and programs to increase trade turnover and investment. Specifically, they expressed their support for the development of free economic zone by helping connect companies and entities that are interested in investing in Mongolia.

Expressing gratitude for supporting the development of relations between the two countries, and contributing to women’s empowerment in the country, Speaker G.Zandanshatar affirmed support for further strengthening the cooperation.

During the meeting, a representative of RHP Co. Ltd. gave information on construction projects that were implemented in the Korean public transportation sector, and their latest technology and solutions. Discussions were also held on the advantages and features of LRT (light rail transit) – one of the key solutions that are being considered to reduce traffic congestion in the capital city.

The sides agreed to further expand bilateral inter-parliamentary cooperation, and provide mutual support in increasing foreign trade and investment.