Latest news with #Mongolian
Cision Canada
5 hours ago
- Business
- Cision Canada
Fall of Mongolian coalition government could lead to severe economic downturn
Mongolia faces a crunch parliamentary vote on Monday which could lead to fall of coalition government New analysis from Mongolian Economic Development Board indicates this could lead to a sharp fall in national income and foreign direct investment (FDI), as well as spiralling inflation Political instability will jeopardise economic progress achieved in the last few years ULAANBAATAR, Mongolia, May 31, 2025 /CNW/ -- As Mongolia's parliament prepares to vote on Monday on whether the country's coalition government should remain in office, new economic analysis warns that the demise of the government could see the size of Mongolia's economy contract by over 20% within six months, and FDI fall by almost 40% year-on-year. Prime Minister Oyun-Erdene called on Wednesday for members of the Great State Khural to decide on whether the coalition government, which has been in place since last June's parliamentary elections, should remain as a way of ending recent political instability. The Prime Minister is due to address the Khural on Monday ahead of a 'confidence vote' – likely to be deemed one of the most important moments in Mongolia's political history since becoming a democracy in the early 1990s. As the vote approaches, new economic data – which can be viewed in full here – produced by Mongolia's Economic Development Board warns of the scale of the economic hit Mongolia could face, namely: A 22% reduction in Gross National Income within six months A 12.2% increase in inflation within a year Year-on-year unemployment rising to 2.5% The Mongolian Tugrik depreciating against the US Dollar by 17.9% by the end of 2025 An 18-point year-on-year decrease in Mongolia's Political Stability Index These forecasts are in line with the experiences of other countries where political instability has had a negative impact on the economy, including following the fall of a coalition government: According to data from the World Bank and other key sources, the coalition breakdown in Estonia caused FDI to tumble from 7.54% in 2021, to 0.74% in 2024, and its economic growth to stall from 7.3% in 2021, to -0.9% in 2024 An international study analysing data from up to 169 countries between 1960 and 2004 has concluded that high levels of political instability are associated with lower GDP per capita growth, particularly due to declining productivity growth and reduced accumulation of physical and human capital Commenting, Dr Batnasan B., Professor at the Business School of the National University of Mongolia and Member of the Economic Development Board, said: " The latest data clearly highlights the potential economic consequences of a collapse in Mongolia's coalition government: a sharp economic downturn, runaway inflation, and a rise in unemployment. "It is entirely appropriate that elected representatives decide who governs the country. But it is equally important that such decisions are made with full access to the facts and a clear understanding of the potential risks. "The Economic Development Board's analysis—combined with lessons from other countries that have faced similar circumstances—presents a compelling warning: all the hard-won economic progress Mongolia has achieved in recent years could be jeopardized if Monday's vote results in increased political instability." This new analysis, as well as precedent from around the world, clearly shows the magnitude of the decision to be taken by lawmakers on Monday, and the jeopardy to the significant economic progress Mongolia has made since the COVID-19 pandemic, including adding $9 billion USD to its economy and increasing GDP per capita by an additional $2,400.
Qatar Tribune
2 days ago
- Sport
- Qatar Tribune
Qatar's Shahin wins Greco-Roman gold at Ulaanbaatar Open
Team Qatar made headlines at the Ulaanbaatar Open Wrestling Ranking Series event in Mongolian capital on Thursday as Shahin Eidimohammad Badaghimofrad clinched gold in the 82kg Greco-Roman category. Earlier, Shahin was handed a default victory in the second round, after Turkish wrestler Burhan Akbudak withdrew due to an injury. In the final, the 23-year-old Qatari wrestler dominated his Indian opponent Prince Prince with a decisive 9-0 victory, earning a well-deserved gold medal.
India Gazette
2 days ago
- Politics
- India Gazette
Indian Army contingent departs for India-Mongolia joint military exercise 'Nomadic Elephant'
New Delhi [India], May 29 (ANI): The Indian Army contingent departed on Thursday for 17th edition of India-Mongolia joint military exercise 'Nomadic Elephant', Ministry of Defence said in an official statement on Thursday. The exercise is scheduled to be conducted in Ulaanbaatar, Mongolia from May 31 to June 13. The exercise is an annual event conducted alternatively in India and Mongolia. Last edition of the same exercise was conducted at Umroi, Meghalaya in July 2024. The Indian contingent comprising 45 personnel will be represented mainly by troops from a battalion of the Arunachal Scouts. The Mongolian armed forces contingent, also comprising similar strength, will be represented by 150 Special Forces unit, as per the ministry. Aim of the exercise is to enhance interoperability between the two forces while employing joint task force in semi conventional operations in semi urban/mountainous terrain under the United Nations mandate, it added. The scope of this exercise involves Platoon level field training exercise. During the exercise, Indian and Mongolian troops will engage in various training activities to include endurance training, reflex shooting, room intervention, small team tactics and rock craft training, among others. In addition, to enhance complexity of exercise, aspects pertaining to Cyber Warfare are also being incorporated in this edition of the exercise. Soldiers from both sides will also learn from each other's operational experience, the statement said. The exercise underscores the shared commitment of India and Mongolia towards regional security, peace and stability. Exercise 'Nomadic Elephant' reinforces the India-Mongolia relationship as a cornerstone of regional cooperation, fostering strong military ties and promotion of cultural understanding. A testament to the enduring bond of friendship, trust and cultural linkages between India and Mongolia, the exercise sets the stage for meaningful professional engagement, highlighting the unwavering commitment of both nations to broader defence cooperation. (ANI)
The Print
2 days ago
- Politics
- The Print
India, Mongolia joint military exercise to take place from May 31-June 13
The two-week exercise is an annual event conducted alternatively in India and Mongolia. Its last edition was conducted at Umroi, Meghalaya in July 2024. An Indian Army contingent departed on Thursday for the 17th edition of 'Nomadic Elephant', the defence ministry said in a statement. New Delhi, May 29 (PTI) Militaries of India and Mongolia will participate in a bilateral exercise to be held in Ulaanbaatar from May 31 to June 13, aimed at enhancing interoperability between the two forces. The Indian contingent comprising 45 personnel will be represented mainly by troops from a battalion of the Arunachal Scouts, the statement said. The Mongolian Armed Forces contingent, also comprising similar strength, will be represented by 150 Special Forces unit, it said. 'The aim of the exercise is to enhance interoperability between the two forces while employing joint task force in semi-conventional operations in semi urban/ mountainous terrain under the United Nations mandate,' the statement said. The scope of this exercise involves platoon-level field training exercise. 'During the exercise, Indian and Mongolian troops will engage in various training activities to include endurance training, reflex shooting, room intervention, small team tactics and rock craft training, among others. 'In addition, to enhance complexity of exercise, aspects pertaining to cyber warfare are also being incorporated in this edition of the exercise. Soldiers from both sides will also learn from each other's operational experience,' the ministry said. The exercise underscores the shared commitment of India and Mongolia towards regional security, peace and stability. 'It reinforces the India-Mongolia relationship as a cornerstone of regional cooperation, fostering strong military ties and promotion of cultural understanding,' the statement said. A testament to the enduring bond of friendship, trust and cultural linkages between India and Mongolia, the exercise sets the stage for meaningful professional engagement, highlighting the unwavering commitment of both nations to broader defence cooperation, it added. PTI KND KVK KVK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Tokyo Weekender
2 days ago
- Sport
- Tokyo Weekender
Introducing Onosato: Japan's Record-Breaking Yokozuna Grand Champion
Onosato was promoted to the highest rank of yokozuna on Wednesday following his Summer Grand Sumo Tournament triumph. The 24-year-old Ishikawa Prefecture native achieved the feat after just 13 professional tournaments, making him the fastest to attain the exalted rank in the modern era. The previous record was held by fellow Ishikawa Prefecture native Wajima, who secured promotion after his 21st meet in 1973. Onosato, whose birth name is Daiki Nakamura, is the first Japanese-born sumo wrestler to become grand champion since 2017. List of Contents: A New Era in Sumo The Rise of Onosato Related Posts A New Era in Sumo The only other Japanese-born competitor promoted to the top rank of the sport this century was his stablemaster Nishonoseki, who wrestled as Kisenosato. He retired in 2019. Since Asashoryu's ascent to the highest rank 22 years ago, sumo has been dominated by Mongolian wrestlers, with six of the last eight yokozuna hailing from the world's second-largest landlocked country. The rise of Onosato, though, could mark a new era in the sport. A remarkable talent, he is the first wrestler to turn yokozuna without a single losing record. 'I'll devote myself to training in order not to bring the rank of yokozuna into disrepute, and aim for a one-of-a-kind yokozuna,' said Onosato during his promotion ceremony at his Nishonoseki stable in Ami, Ibaraki Prefecture. Nishonoseki added, 'I hope he leads by example and lifts the entire world of sumo. It's important to be strong, but I hope he becomes a role model for other wrestlers. I hope he wrestles while being aware (of a yokozuna's responsibilities).' The Rise of Onosato Described as 'the most eagerly awaited prospect to come out of collegiate sumo in decades,' Onosato only became a professional in May 2023 after graduating from Nippon Sport Science University. Speaking about the wrestler's potential, his former coach at Niigata's Kaiyo High School said , 'It may be presumptuous to call him the Shohei Otani of sumo, but I have high hopes for him to become a 'monster of a new era.'' So far, he has lived up to the hype. Beginning as a pro in the third-tier makushita division, Onosato won the Emperor's Cup in his seventh tournament, the fastest since the championship system was established more than a century ago. He secured his fourth career championship last Friday with two days to spare in the Summer Grand Sumo Tournament. Going into the final day, he had a perfect 14-0 record. Hoshoryu , however, spoiled his bid to finish the tournament undefeated. The Mongolian is, of course, sumo's only other current yokozuna. He was promoted in January. The last two wrestlers promoted to yokozuna in the same year were Hokutoumi and Onokuni in 1987. It's hoped that the sport's latest rivalry will become one for the ages. Hoshoryu currently has the upper hand, with six wins in eight career bouts between the pair. They will meet as yokozuna for the first time at the IG Arena in Nagoya in July. Onosato will be hoping to claim his third successive title this year, while Hoshoryu will be aiming for his third career championship. Related Posts The Greatest Sumo Rivalries of All Time | List of 7 London To Host First Overseas Sumo Tournament in 20 Years A Guide to Sumo in Tokyo
