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Wednesday, 20 September 2006 |
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“The main result of this year’s Council
conference is perhaps the fuller understanding on everyone’s part about the
changes of the mining law. Although the members of the Business Council
represent a broad spectrum of economic interests, it is our belief that the principle
driver for the Mongolian economy is mining and natural resources,” said Edward
T. Story, Chairman of the North America Mongolia Business Council and President
of SOCO International.
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Monday, 18 September 2006 |
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T. Gankhuyag, Deputy Chairman of the Petroluem and
Mineral resources Authority, Speaker at the North America-Mongolia
Business Council’s (NAMBC) 9th Annual Investors’ Forum, introduced various
issues that have attracted investors’ interest.
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Wednesday, 13 September 2006 |
 The President of the European Bank for Reconstruction and Development
(EBRD), Jean Lemierre, signed a loan contract worth US$5 million yesterday with
XacBank in Ulaanbaatar. An additional US$1 million in trade
finance was also provided to bolster the financing of imports and exports by its
clients. It is the first investment from the EBRD to a
Mongolian financial institution. XacBank is Mongolia's second-largest micro-credit financial institution, providing mortgage financing and financial leases for small private
businesses and individuals.
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Monday, 04 September 2006 |
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Fitch Ratings, an international ratings agency, affirmed that
Mongolia’s long-term foreign and local currency Issuer Default Rating
(IDR) is “B+”, Stable.
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