Monetary Tightening: Mongolia’s central bank raised the benchmark interest rate by 0.5 points to 12.5% and lifted the reserve requirement ratio to 14.5% as July inflation hit 13%, driven mainly by fuel and food costs. Rail Infrastructure: The Bagakhangai–Khushig Valley–Emeelt railway (214.9 km) is set to open next month, with authorities accelerating land clearance and utility relocation to keep the schedule. Fuel Security: Mongolia secured extra Russian supplies—25,000 tonnes of AI-92 gasoline and 5,000 tonnes of aviation fuel—while also noting shipments from China and talks to diversify aviation fuel sources. Oil Refinery Push: Cabinet ordered removal of legal bottlenecks for the Altanshiree oil refinery project and backed a 23-day fuel storage reserve, with Bank of Mongolia loans exceeding MNT 360 billion. Aviation & Trade Links: Air China’s C919 completed its first scheduled international commercial flight to Ulaanbaatar under bilateral airworthiness recognition, starting daily Beijing–Ulaanbaatar service. Labor Mobility: A new pre-arrival training and preliminary interview system for foreign workers is being used to address shortages in construction, mining, industry, agriculture, logistics, and services. COP17 Prep: As COP17 approaches in Ulaanbaatar, the government is also dealing with a fuel crisis and emergency austerity measures.