DAILY NEWS WIRE

In the first quarter of 2022, CU’s net income exceeded 46 billion MNT. Executive Director G. Chinzorig is optimistic about CU’s future growth despite economic turmoil and global crisis. The company has 200 different locations and plans to have 360 locations by the end of 2022. CU launched an IPO five months ago, initially raising 28.7 billion MNT and planning to commit 27 billion MNT to investment in the business. Daily trading volume ranged from 100 million MNT to 3 million MNT during the reporting period. CU shares fell by about 15 percent in the last two months, fluctuating between 175 MNT and 180 MNT, but rebounded this week to be valued at 201.9 MNT.  

The Metropolitan Education Department’s Education Reform 2022 exhibition starts tomorrow at Misheel Expo. The exhibition will continue for four days, from April 22 through April 25. International and local universities will participate to share information with high school graduates. Information about student loans, scholarships, and specialized programs will also be available at the exhibition.

Germany recently announced it would be suspending oil and natural gas imports from Russia by the end of 2022, creating potential investment opportunities for some investors. Brent oil rose by 0.4 percent, valued at 106 USD a barrel, while WTI oil exceeded 102 USD.
U.S. oil reserves have been experiencing a drastic decline since January 2021. Since the start of the Ukraine conflict, the U.S and Great Britain have stopped importing Russian oil, which has caused high fluctuation in the oil market.  

Today, Secretary of the Mongolian Academy of Sciences (MAS) B. Avid and the State Secretary of the Ministry of Digital Development and Communications, B. Bolor-Erdene, signed an agreement on partnering in the development of modern technology, aerospace research, and artificial intelligence in Mongolia. According to MAS, the primary focus of the agreement is to partner in major technology projects and expand the government’s scientific research.