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Good morning! 🌟 Skytrax has just named MIAT Mongolian Airlines among the “TOP-10 Most Improved Airlines in the World for 2025”! This jump is likely thanks to their sleek new Boeing 787 Dreamliners boosting long-haul comfort and a strong push to expand domestic routes.

Have you flown with MIAT lately? We want to hear about your experience! Let’s explore how MIAT is soaring in the eyes of travelers like you. 👇

In today’s newsletter:

• 🧑‍🤝‍🧑 $XAC to Merge…

• 🚔 Criminal Records

• 📊 Securities Firms H1 Update

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

MARKET

MNG: Government begins study to establish new housing bank in Mongolia. 

RUS: As trade turnover between Russia and Mongolia rises, with Russia participating in the reconstruction of Ulaanbaatar’s TPP-3, developing the Ulaanbaatar Railway joint venture, and other projects, direct flights between Moscow and Ulaanbaatar are planned to resume by the end of this year.

FRC: Financial Regulation Commission nods approval for XacBank’s (XAC) merger with Tenger Financial Group.

🚨 Top Rising Crimes: Traffic, Tech, and Violence

Criminal offenses in Mongolia surged by 30.2% in the first half of 2025 compared to the same period last year, reaching a total of 26,706 reported cases. According to preliminary data, 5 categories of crime recorded especially sharp increases, pointing to shifting societal risks and enforcement patterns.

😓 Alarming TOP-5s

Traffic-related violations saw the sharpest rise among all categories, surging by 75.8% year-on-year, from 1,258 to 2,212 cases. This spike likely reflects both a growing number of vehicles on the roads and stricter enforcement of traffic laws. Closely following was cybercrime, which jumped by 62.3%, as reported cases climbed from 162 to 263. With digital activity accelerating across all sectors, incidents of fraud, hacking, and data breaches are becoming increasingly common.

• 🙊 Crimes involving public service, often linked to misconduct or abuse of power by officials, rose by 38.2%, possibly pointing to either tighter scrutiny or deepening strains within governance systems.

Violent crimes were not far behind. Offenses against the right to life, including homicides and attempted killings, rose by 36.6%. Meanwhile, crimes threatening personal liberty and security, such as unlawful detention and coercion, increased by 33.1%, underscoring a worrying trend in assaults on individual safety and rights.

💸 Damage and Victims: A Rising Human and Economic Cost

The total monetary damage caused by crime reached ₮398.2 billion in the first half, up 37% or ₮107.5 billion from the same time last year. Of this, ₮127.8 billion was compensated, reflecting a 43.5% increase in restitution efforts.

• 🙎🏻‍♂️ On the human side, 24,600 individuals were directly affected by crime. This includes 1,409 children under 18, accounting for 5.7%, and 11,341 women, making up 46.1%. The number of people injured rose by 8.2% to 5,680, while 567 people lost their lives, an 18.6% increase in fatalities compared to the same period in 2024.

Yet, corruption remains one of the most pressing concerns in Mongolia. Still, the official numbers paint a different picture. Just 13 cases in 2023, 17 in 2024, and 14 in the first half of this year. For many Mongolians, these figures feel almost laughable and spark the reaction, “What a joke.” 

⭐ Selected for you

ECONOMY & BUSINESS

• Asian Battery Metals Preps for More Copper-Nickel Drilling in Mongolia. (TheAustralian)

• Industrial Output Shrinks 2.8 pct in H1 of This Year. (Xinhua)

• Mongolian Mining Corporation’s combined run-of-mine coal output from the UHG and BN mines totaled 3,428.4 kt in H1 2025, down 28% YOY. (MMC)

• Mongolia Energy Announces 2025 Annual General Meeting and Share Issuance Plans. (TipRanks)

POLITICS

• Why are Cambodia, Mongolia Involved in Probes Into the Ex-President and his Wife? (KoreaTimes)

• Russia to Consider Construction of Access Roads to Borders with China, North Korea. (TASS)

• Tajikistan, Mongolia Discuss Ways to Boost Bilateral Trade. (30Trends)

• Government Launches an Investigation into the Customs General Administration. (MED)

• Construction of the Tuul Expressway, Mongolia’s First Comprehensive Highway Project Spanning 32 km, is Set to Begin This Week. (Ulaanbaatar)

CULTURE & LIFESTYLE

• Navigating Mongolia Can be Tricky. That might Now be Changing. (CNN)

• Mongolian Buddhist Shrine Scrolls Virtually Unrolled in Berlin Reveal Hidden Sanskrit Mantra. (ArchaeologyNews)

‼️ Trading Volume Plummets

The latest report on securities firms’ trading activity on the Mongolian Stock Exchange (MSE) reveals a sharp 63% drop in total trading volume compared to the first half of last year.

🧐 What Caused the Slowdown?

Primary market activity slowed considerably this year. Unlike last year, there were no IPOs, and the issuance of new bonds and asset-backed securities on the MSE declined sharply. A major factor was the absence of large bond issuances similar to last year’s ₮500 billion Ulaanbaatar bond, which was traded in 3 tranches and boosted overall volume. 

• This year, although domestic government securities are actively traded, their monthly volumes are roughly 25 times lower than the previous Ulaanbaatar bonds. Consequently, securities firms’ trading activity in the primary market plummeted by 90.9%, declining by ₮1.1 trillion.

🔍 Is Investor Interest in Stocks Waning?

While the secondary market experienced increased trading in corporate bonds and asset-backed securities, trading volumes for stocks and mutual funds fell by 29.6% or ₮96.7 billion. This decline has slowed the trend of stock price appreciation, negatively impacting company valuations across the board.

🔢 Shifting Company Rankings

Furthermore, the list of the most actively trading securities firms on the exchange has changed drastically. Last year, BDSec (BDS) dominated as the lead underwriter of Ulaanbaatar bonds, controlling 52.5% of total trading volume. However, this year, $BDS’s stock volume plunged by 94.3%, pushing it down to 5th place. Despite this, Golomt Capital has taken the lead, with a relatively modest 12.1% drop in trading volume but commanding 20.4% of total activity.

• 🚀 Tenger Capital’s Meteoric Rise: While 6 of the top 10 securities firms saw their trading volumes decline, Tenger Capital surged an astonishing 1,635.6%, vaulting from 21st place last year to 10th, highlighting pockets of strong investor interest.

Finally… After a period of rapid growth, Mongolia’s stock market appears to be slipping into a lull once again. Market liquidity and trading activity are weakening, signaling the urgent need for fresh incentives and reforms to restore investor confidence and invigorate the market.

🛸 Mongolia’s Tourist SIM

Starting July 2025, Mobicom is offering all foreign tourists a free 1GB Tourist Data SIM, available right at Chinggis Khaan International Airport, local airports, ports, and Mobicom branches across Mongolia!

📲  Connect Your Way 

Whether you prefer a convenient eSIM QR code or a physical SIM card, you can get online instantly upon arrival and stay connected with your loved ones throughout your trip. Your free 1GB data is valid 24/7 from the moment you activate it!

🤔 How to get your free data?

• At the international arrivals section of Chinggis Khaan International Airport, choose between an eSIM QR code or a physical SIM.

• At the VIP taxi service area, grab your free eSIM QR code on the go.

Need more data? No worries! Simply visit their website to purchase additional “Tourist Data Packages” and keep exploring Mongolia online without interruption.

Travel smart. Stay connected. Enjoy Mongolia with Mobicom’s Tourist Data SIM!

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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.