Mongolia-focused oil explorer Petro Matad said it found hydrocarbons at one of its wells in Eastern Mongolia, almost a year after it discovered oil at the first well it drilled in the region.
Mongolia’s newly created development lender is aiming to sell $700 million of domestic-currency bonds in 2011, with sales scheduled to begin this month, the bank’s chairman said.
Investors will be offered tugrik-denominated bonds due in five, 10, and 15 years in several sales from the end of this month to around September, Chuluundorj Khashchuluun, the Ulan Bator-based chairman of the Development Bank of Mongolia, said in a telephone interview yesterday.
The Development Bank of Mongolia has been inaugurated on May 12th, with a mandate to do policy loans in areas that include infrastructure, industry, energy and roads.
“The contribution, expectations and responsibility of the Development Bank in the country’s economy are absolutely high” said Prime Minister of Mongolia S.Batbold at the state-owned bank’s inauguration.
TOKYO May 9 (Reuters) - Japan and the United States plan to jointly build a spent nuclear fuel storage facility in Mongolia to serve customers of their nuclear plant exporters, pushing ahead despite Japan’s prolonged nuclear crisis, the Mainichi daily said on Monday.
A Trade Ministry official said Japan, U.S. and Mongolian officials, at a meeting shortly before Japan’s March 11 earthquake, informally discussed possible construction of a nuclear waste storage facility for countries with nuclear power plants but no spent fuel storage capability of their own.
The central bank of Mongolia, or Bank of Mongolia, said that it has signed a CNY5 billion (about US$770 million) currency swap agreement with the central bank of China, a part of preparations for RMB-based trade settlements.
The Bank of Mongolia (BOM) disclosed the deal in a statement dated Wednesday, but didn’t mention the specific amount.
Sony has blamed the online vigilante group Anonymous for indirectly allowing the security breach that allowed a hacker to gain access to the personal data of more than 100m online gamers.
In a letter to the US Congress, Sony said the breach came at the same time as it was fighting a denial-of-service attack from Anonymous.
Denial-of-service attacks take servers down by overwhelming them with traffic.
General Electric Company (GE) opened a representative office in Ulaanbaatar City, to further explore business opportunities in one of the fastest growing and resource-rich markets in Asia.
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The Development Bank of Mongolia has been inaugurated on May 12th, with a mandate to do policy loans in areas that include infrastructure, industry, energy and roads. 
The central bank of Mongolia, or Bank of Mongolia, said that it has signed a CNY5 billion (about US$770 million) currency swap agreement with the central bank of China, a part of preparations for RMB-based trade settlements.
General Electric Company (GE) opened a representative office in Ulaanbaatar City, to further explore business opportunities in one of the fastest growing and resource-rich markets in Asia.
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