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Happy Monday! 🇲🇳 After MongolZ lit up the Austin Major last week, we’re proud to share another milestone in Mongolian sports. Our women’s 3x3 basketball team earned silver at the FIBA 3x3 World Cup 2025 in Ulaanbaatar. This marks the nation’s highest-ever achievement in a team sport on the world stage, and a truly inspiring moment for the country. 

Today’s highlights in 3 sentences…

• 💸 DBM’s New Bond

• ☔️ Rainy Days in Ulaanbaatar

• 🙊 Telegram Scams

No Time to Waste. Let’s Get Started! 🦘

MARKET

UN: Mongolia has surged 28 places to rank 46th globally in the UN's E-Government Development Index, earning a "very high" rating for the first time.

DBM: The Development Bank of Mongolia successfully raised $350 million through a 3-year bond with an 8.5% coupon, listed on the Vienna Stock Exchange.

MNG: Singapore's Bastion Mining secures control of Xanadu Mines with over 50.1% stake in off-market takeover.

💸 Telegram Scams Surge in Mongolia, Costing Billions

Mongolia is facing a sharp rise in fraud cases linked to the popular messaging app Telegram, with authorities reporting over ₮1.3 billion, approximately $380,000 in losses in Ulaanbaatar's Chingeltei District alone during the first 5 months of 2024–2025.

📊 Chingeltei District Hit Hard

According to the prosecutor's office, 1,274 fraud cases were registered in Chingeltei District during the period, 76 of which, roughly 6% were connected to scams conducted via Telegram. Victims were often lured by false promises of high-paying online jobs or quick financial returns, only to find themselves transferring money to unknown accounts.

🌍 A Nationwide Concern

Nationwide, Telegram-related fraud resulted in ₮11.9 billion in losses in 2024 and a further ₮7.3 billion by May 2025. Authorities have responded by freezing suspicious bank transactions worth ₮15.6 billion to protect victims and curb criminal networks.

• 🔐 Encrypted but Not Risk-Free: The problem is not unique to Mongolia. Globally, Telegram has increasingly been exploited by fraudsters due to its encrypted messaging and broad user base, with similar scams reported across Europe, Southeast Asia, and parts of the United States.

⚠️ Stay Alert, Stay Protected

Authorities are urging the public to exercise caution when receiving unsolicited investment offers or job advertisements via Telegram, warning that “easy money” schemes often come with hidden costs.

⭐ Selected for you

ECONOMY & BUSINESS

• SouthGobi Resources' AGM Approval Signals Governance Strength and Strategic Clarity Amid Debt Deferral. (AInvest)

• Mongolia to Supply Uzbekistan with 2,000 tons of Horse and Halal Lamb Meat. (Zamin)

• Mongolia Energy Strengthens Governance with New Appointment. (TipRanks)

• Mongolia to Launch Gold-3 Campaign Nationwide. (Kazinform)

• Erdene Releases 2025 Shareholder Letter. (TheGlobeandMail) 

POLITICS

• Mongolia Seeks New Markets in Eurasia. (EastAsiaForum)

• Prime Minister of Mongolia Receives Rio Tinto Copper Chief Executive. (Montsame)

• Bangkok and Ulaanbaatar Exchange Knowledge on Multiculturalism, Strengthening Sister City Ties. (NationThailand)

• The UN Secretary-General has appointed Sarangoo Radnaaragchaa of Mongolia as the UN Resident Coordinator in Kazakhstan. (UNSDG) 

CULTURE & LIFESTYLE

• Digital National Atlas of Mongolia launched. (AKIPress)

• An Army Engineer’s Journey in Mongolia. (dvids)

• A Witch in Mongolia Anime Set for Premiere in 2026. (Sportskeeda)

• Can Mongolia’s oldest traditions survive a changing climate? (Conservation) 

☔️ UB’s Sudden Summer Rains: Blessing or Economic Burden?

As if answering residents’ jokes that “Summer’s nowhere in sight,” the skies over Ulaanbaatar have opened up, bringing unexpected, heavy rain. But behind the record-breaking showers lie serious economic and infrastructure challenges.

🌧 Precipitation Hits a New High

In 2024, Mongolia recorded an average rainfall of 280.6 mm, marking it as the 6th wettest year since 1940. In the capital alone, total rainfall from May to August jumped 41.5% compared to 2021, the highest in a decade. But beyond breaking records, the unexpected rain is testing the city’s aging infrastructure.

💡 Economic Side Effects of Heavy Rain

Studies show that heavy rain reduces labor productivity by 10–25%. In Ulaanbaatar, flooded roads, waterlogged shops, and severe traffic congestion have further dragged down daily business activity.

• 👀 Rising Costs: Floodwaters have eroded ongoing roadworks, overwhelmed drainage systems, and highlighted the lack of flood prevention infrastructure. The capital city alone has allocated ₮18.5 billion for flood protection this year. But many say it’s too little, too late.

🌱 A Double-Edged Sword

While increased rainfall benefits agriculture, in urban areas, it brings costly damage. Experts warn that better-designed drainage systems and proactive flood defenses could have prevented much of the economic strain.

In short, the rain Mongolians wished for arrived. But with it came an expensive reminder that Ulaanbaatar’s infrastructure is ill-prepared for climate shocks.

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Publisher: Ts.Ankhbayar
Writer: M.Khulan
Graphics by: Ts.Tselmeg

Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.