1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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EU extends economic sanctions against Russia for another six months www.rt.com

The European Union has prolonged anti-Russia economic sanctions, keeping restrictions on business with Russian energy, defense, and financial sectors until January 31, 2018.

According to a release published on Wednesday, the “decision follows an update from President Macron and Chancellor Merkel to the European Council of 22-23 June 2017 on the implementation of the Minsk Agreements.”

Russian presidential spokesman Dmitry Peskov said the Kremlin takes the EU’s extension of sanctions “negatively and with sorrow.”

Last week, EU leaders confirmed their decision to keep sanctions in place, with the President of the European Council Donald Tusk tweeting "Agreed. EU will extend economic sanctions against Russia for their lack of implementing the Minsk Agreement."

The sanctions were first introduced over the crisis in Ukraine and the Crimea reunification in 2014. They include an arms export ban, limited access to finance for Russian banks, and travel bans for over 150 individuals. Many measures, specifically, prohibit financial interactions with Crimea.

In response, the Kremlin imposed an embargo on EU agricultural produce, food and raw materials. Since then the sides have repeatedly broadened and extended the restrictive measures.

Russian President Vladimir Putin said the embargo on certain Western food products was good for Russia’s economy and should last "as long as possible." He explained the ban is also in consumer interests, with high-quality products at lower prices becoming more available.

Prime Minister Dmitry Medvedev said the measures introduced stimulate domestic production and many Russian companies have been asking the government to keep them.

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65 km new paved road opens for traffic www.montsame.mn

Ulaanbaatar /MONTSAME/ Construction of 65 km paved road out of total 95 km road in an intersection of the Dulaankhaan-Eruu-Khuder was completed and put into operation on June 23. Minister of Road and Transport Development D.Ganbat, MP N.Oyundari, and Director of the Darkhan Metallurgical Plant D.Batjavkhlan attended the opening ceremony.

A "Mining and Metallurgical Complex” project is ongoing under concession agreement, aiming to put state-owned iron ore deposits in Darkhan-Selenge region into economic circulation and expand the capacity and the activities of the Darkhan-Metallurgical Plant through technical and technological renovation. The concession contract contains two projects, construction of railway and freight terminal and paved road.

‘Peak Development’ Company is implementing the 95 km paved road project, which connects Tumurtei iron ore deposit with the national auto road of Darkhan-Selenge. Base and road dam construction works of the remaining 30 km paved road completed and pavement work is underway. It is scheduled to start commissioning in November.

The paved road will push the mining and metallurgical project development forward and allow residents of Selenge aimag, particularly of Eruu and Khuder soums, for safe and fast travel. In addition, it will lead to the increase foreign and domestic tourists visiting the region as well as will be significant for socioeconomic development of the aimag and the region.

A freight terminal as well as a 33.4-km railway connecting the Tumurtei deposit in Khuder soum, Selenge aimag and Khandgait railway station in Yeroo soum, owned by ‘Bold Tumur Yeroo Gol’ company were constructed and put into operation last December.

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Major global companies hit by cyber attacks www.rt.com

Danish shipping and oil firm A.P. Moller-Maersk has reported its computer systems crashed as a result of a cyber attack on Tuesday. The company called it a global issue.

"We can confirm the breakdown is caused by a cyber attack," a spokeswoman said.

The company posted on Twitter, "We can confirm that Maersk IT systems are down across multiple sites and business units. We are currently assessing the situation."

Maersk added the source of the outage is not known, but the problem could be global.

Also on Tuesday, Russia's largest oil producer Rosneft said a large-scale cyber attack had hit its servers, but oil production was unaffected.

International steel and mining company EVRAZ also said it had been a target of a hacker attack.

"The information system has undergone an attack, the main production continues to operate, there are no threats to the safety of enterprises and employees," the company said.

International shipping company TNT Express, based in the Netherlands, said its systems have been breached as a result of the cyberattacks.

Ukraine has also been affected by massive cyberattacks targeting the country's government, some banks and companies, as well as the Ukrainian capital's airports.

The ransomware is demanding a payment of $300 in bitcoin to decipher the hacked files.

Britain's WPP, the world's biggest advertising agency, has also reported a cyber attack. The spokesman for WPP provided no further details. The company's website was not available.

The attacks continued to spread throughout Europe, hitting, among others, French construction materials company Saint Gobain. “As a security measure and in order to protect our data, we have isolated our computer systems,” a company spokesman said, as quoted by Reuters.

Germany, too, has come under ransomware attack, according to the federal information security agency BSI, which didn’t name the companies affected by the malware. The agency called on the firms to report any difficulties and not to pay any ransom.

Computers at the global law firm DLA Piper, which has offices around the world, were also reportedly affected by the attack. Food giant Mondelez International has reported an "IT outage," although it wasn’t clear if the ransomware attacks were the cause.

The attack has now reached across the ocean, targeting one of the largest US pharmaceutical companies, Merck.

Merck’s offices worldwide, including in Ireland and Ukraine, have been hit, with computers and phones hacked, according to Forbes.

Last month, WannaCry malware infected over 200,000 computers. The virus demanded a ransom from users in exchange for not having their data destroyed.

 
 
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From Prague to Mongolia, wild horses return to the steppes www.reuters.com

A quarter-century-old project to repopulate the steppes of Mongolia with wild horses was kept alive as four animals made the long trip back to their ancestral home from Prague Zoo.

Driven to extinction in their homeland in the 1960s, the Przewalski's horses survived in captivity before efforts began to re-introduce them to the arid desert and mountains along Mongolia's border with China.

Zoos organized the first transport to Mongolia of the strong, stocky beasts in 1992.

For the past decade, Prague Zoo has been the only one continuing that tradition and it holds the studbook of a species whose ancestors - unlike other free-roaming horses such as the wild mustangs of the United States - were never domesticated.

The zoo completed its seventh transport last week, releasing four mares born in captivity in the Czech Republic, Germany and Denmark in the Gobi desert. They will spend the next year in an enclosed area to acclimatize before being freed.

"All the mares are looking very well, they are not hobbling, they are calm, eating hay and trying to test the taste of the new grass," Prague Zoo veterinarian Roman Vodicka said after making observations a few days after the release.

Prague has released 27 horses in total and officials estimate around 190 are now back in the wild in the Gobi B park, where the most recent arrivals were sent.

(Reporting by Jiri Skacel; Writing by Jason Hovet)

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EU slaps Google with $2.7bn fine for manipulation of search results www.rt.com

The European Commission has fined American IT giant Google €2.42 billion ($2.7 billion) for breaching competition rules with its online shopping service. The firm was accused of putting its Shopping Box at the top of search results, making other shopping websites less visible.

The Commission has been investigating Google’s parent company Alphabet for several years.
EU regulators said on Tuesday that "Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.''
Google argued the allegation from Brussels "just doesn't fit the reality of how most people shop online."
"They reach merchant websites in many different ways: via general search engines, specialist search services, merchant platforms, social media sites, and online ads served by various companies," Kent Walker, Google's general counsel, has written, as quoted by CNBC.
"And of course, merchants are reaching consumers directly like never before. On the mobile web — and more than half of Europe's internet traffic is mobile these days — dedicated apps are the most common way for consumers to shop," he added.
The company has been given 90 days to stop the practice or face a fine of five percent of Alphabet's daily turnover.
Alphabet stock fell 1.1 percent to $962 in premarket trading. 
In a separate case, EU Commissioner for Competition Margrethe Vestager has been investigating Android, Google’s operating system for smartphones, and its advertising business.
She has also been looking at whether Google unfairly banned competitors from websites that used its search bar and ads.
Last summer, Vestager ordered Apple to pay €13 billion in back taxes in Ireland. The EU antitrust commissioner has repeatedly said she's not biased against US companies..

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261 foreigners deported from Mongolia www.theubpost.mn

The Mongolian Immigration Agency announced that it has deported 261 foreign citizens and fined over 600 who have been staying past their visa expiration dates in Mongolia.

The agency identified 950 citizens of 30 countries who have been overstaying in the country after conducting an inspection under the government’s order. Reportedly, the majority of the overstaying foreigners were citizens of China.

Statistics indicate that there were 23,737 foreigners from 122 countries with long-term residence permits in Mongolia as of January 2017. The report shows that Chinese citizens make up 30 percent of the total figure.

The most common violation among foreigners who entered Mongolia is overstaying past the length of their visa, accounting for 47.2 percent of all violations committed by foreigners, reports the Mongolian Immigration Agency. The next common violation has been identified as illegal employment or operating beyond their visa permit, taking up 27.7 percent.

Studies show that 54 percent of foreigners deported in the first half of 2017 are Chinese, 15.5 percent are North Korean, six percent are Vietnamese, 4.7 percent are Russian, and citizens of other countries take up the rest.

According to statistics, 313 foreigners of 25 countries were deported from Mongolia in the first half of 2016, and 188 foreigners of 18 countries were deported in the first half of 2015.

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BOM issues 1-week bills www.montsame.mn

Ulaanbaatar /MONTSAME/ BoM issues 1 week bills worth MNT 1168.1 billion at a weighted interest rate of 12.0 percent per annum.

1 - week CBBs, a main monetary policy instrument of BoM, plays an important role on managing the reserves of the banks. This CBB rate represents BoM’s policy rate guides interbank money market. In July 2007, the CBB with stable rate and unlimited bidding was introduced with auctions to be held on every Wednesday. This really had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. There has been a substantial change in the way banks manage their reserves since then. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB has been held in a type of competing by rate since May 2005. The auction average rate is the targeted rate variables in +/-2 percent from the policy rate and it frames to make the interbank rate as the operational target in midterm.

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Ulaanbaatar railway company to reduce loss through tea road project www.montsame.mn

Ulaanbaatar /MONTSAME/ The second Mongolia-Russia-China Tourism Ministers’ meeting was held on June 21 in Ulan-Ude, capital city of the Republic of Buryatia, Russia attracting an audience of nearly 200 tourism delegations and journalists of the three countries.

Following the plan outline for building trilateral economic corridor, the tourism authorities have jointly set up the “Tea Road” international tourism alliance. Within the framework of “Tea Road” project, Chinese side set goals to send one million tourists to the tourist zone in Lake Baikal in 2018.

At the meeting, Ulaanbaatar Railway Company (UBTZ) informed that situating cross-border bullet train in the Ulaanbaatar-Erkhuu route for transporting one million Chinese tourists would be beneficial for reducing the amount of stops at Sukhbaatar and Naushki border stations. Accordingly, the bullet train will be able to transport 6-8 carts daily.

The officials noted that the implementation of “Tea Road” project will reduce transport loss of Ulaanbaatar Railway Company and increase tourism revenues starting from 2018.

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Mongolia to join construction of Asian Super Grid www.mongolia.gogo.mn

Mongolia has expressed a desire to join a project for construction of the Asian Super Grid, a project to establish an electrical power transmission network connecting China, South Korea, Russia, and Japan.

These plans have been unveiled by the press office of Russian Networks (Rosseti) following a meeting between the head of the company, Oleg Budargin, and the general manager of the project office of the executive director of the Japanese Softbank, Shigeki Miwa.
“Oleg Budargin noted that in recent months, he met several times with representatives of the government of Mongolia, which had expressed a wish to join the project”, a report says.
The document states that Budargin and Miwa confirmed their interest in the continuation of consultations for the purpose of implementing a project for construction of the electricity grid.
Earlier, a Memorandum of understanding on construction of the Asian Super Grid was signed by Russia, Japan, China and Korea, according to the www.russianconstruction.com.

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Iron ore price soars www.mining.com

The Northern China import price of 62% Fe content ore jumped 6.5% on Tuesday to trade at $59.10 per dry metric tonne according to data supplied by The Steel Index. The most actively traded iron ore futures contract on the Dalian Commodity Exchange advanced 6% to 456.5 yuan ($67) per tonne. The price of the steelmaking raw material is now up more than 10% from year lows hit two weeks ago.

Iron ore price bulls took heart from higher steel prices, but part of the move could also be explained by futures speculators "window dressing" ahead of the end of the quarter reports Reuters:

"High margins after the government's effort to eliminate low-grade steel are enticing mills to produce more steel, which increases the need for iron ore," said Zou Mingdong, Shanghai-based steel manager at Zhongcai Merchants Investment Group.

"However, the rising price doesn't change the fundamental situation of oversupply and weak demand."
Shares of the world's top iron ore miners reacted positively led by Kumba Iron Ore units trading in New York which surged 6.7% on Tuesday. The South African company, controlled by diversified giant Anglo American, produces more than 40m tonnes per year. The stock is worth $3.6 billion in New York and is trading in positive territory for 2017.

Australia's Fortescue Metals Group, a pure play iron ore producer, added 3.8% on the Australian stock exchange and some 10% on US over the counter markets. FMG stock is still down by 18% in 2017 and the Perth-based firm is now worth US$11.5 billion on the ASX.

World number one Vale gained 3% in Brazil trading, lifting the Rio de Janeiro-based company's market capitalization to $43.8 billion after 12.6% gains this year. Diversified giants Rio Tinto and BHP Billiton also advanced, up 3.3% and 2.4% respectively, although the Melbourne-based companies both show declines year to date.

Today's move in the price goes counter to what most analysts believe is in store for the market which has been in oversupply for more than two years.

Morgan Stanley this week sharply cut its forecast for the iron ore price in the third quarter with the investment bank now seeing an average of $50 over the period, climbing to $55 in the final three months. For the year as a whole Morgan Stanley sees the commodity averaging $63 compared to a year-to-date average of $74. Iron ore is expected to continue to soften averaging $58 next year and $54 in 2019.

The latest forecast from the Morgan Stanley is more optimistic than predictions in a research note Citigroup released last week. The bank lowered its price outlook by a fifth saying iron ore will average $48 a tonne in Q4 2017, down from $60 in its previous prediction:

Both analysis blame growing global supply – most notably from Vale's S11D mine and Roy Hill in Australia hitting full production – for the weak outlook. According to Citigroup, 2017 will see a surplus of 118m tonnes following a more than 60m tonnes glut last year. Morgan Stanley predicts nearly 40m tonnes of oversupply this year, growing steadily to top 120m tonnes in 2019 and 185m excess tonnes in 2021.

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