Mar. 21 – Mongolia’s internet sector is considered to be one of the most rapidly expanding sectors in the country, according to market research conducted by local Frontier Securities.
The number of internet subscribers in the country increased 10-fold from 2006 to 2009 – from around 10,000 to over 100,000. Estimates grew to 199,000 subscribers by the end of 2010 due in part to falling costs as the market expands.
According to Frontier Securities data, the wholesale price connection has dropped from US$3,250 per 1 Mbps in 2004 to US$80 in 2011. Continue reading
Free app brings Mongolia Briefing to your fingertips
Dec. 16 – The brand new Asia Briefing mobile application brings the latest business news and foreign investment insights from Mongolia Briefing web site right to your fingertips.
The free app integrates with legal and tax regulatory updates from Dezan Shira & Associates, along with China, India, Vietnam, Russia Briefings, and 2point6billon.com (for emerging Asia). Continue reading
Nov. 17 – Mongolia is to launch one of the world’s biggest ice-making experiments later this month in an attempt to combat the adverse affects of global warming and the urban heat island effect. The geo-engineering trial, that is being funded by the Ulaanbaatar city government, aims to “store” freezing winter temperatures in a giant block of ice that will help to cool and water the city as it slowly melts during the summer.
The scientists behind the 1 billion tugrik (US$700,000) project hope the process will reduce energy demand from air conditioners and regulate drinking water and irrigation supplies. If successful, the model could be applied to other cities in the far north. The project aims to artificially create “naleds” – ultra-thick slabs of ice that occur naturally in far northern climates when rivers or springs push through cracks in the surface to seep outwards during the day and then add an extra layer of ice during the night. Unlike regular ice formation on lakes – which only gets to a meter in thickness before it insulates the water below – naleds continue expanding for as long as there is enough water pressure to penetrate the surface. Many are more than seven meters thick, which means they melt much later than regular ice. Continue reading
Apr. 6 – The Mongolian National Chamber of Commerce and the Mongolian Government recently released the 10th annual list of the top 100 businesses in Mongolia. Like in previous years, this year’s list is dominated by private enterprises.
During 2010, workers for private enterprises accounted for 88 percent of all those currently employed. Private businesses also contribute to around 80 percent of Mongolia’s GDP. Moreover, 2010 saw the first IPO by a Mongolian company. Continue reading