1 ZANDANSHATAR GOMBOJAV APPOINTED AS PRIME MINISTER OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/06/13      2 WHAT MONGOLIA’S NEW PRIME MINISTER MEANS FOR ITS DEMOCRACY WWW.TIME.COM PUBLISHED:2025/06/13      3 ULAANBAATAR DIALOGUE SHOWS MONGOLIA’S FOREIGN POLICY CONTINUITY AMID POLITICAL UNREST WWW.THEDIPLOMAT.COM PUBLISHED:2025/06/13      4 THE UNITED NATIONS CHILDREN’S FUND (UNICEF) IN MONGOLIA, THE NATIONAL FOUNDATION FOR SUPPORTING THE BILLION TREES MOVEMENT, AND CREDITECH STM NBFI LLC HAVE JOINTLY LAUNCHED THE “ONE CHILD – ONE TREE” INITIATIVE WWW.BILLIONTREE.MN PUBLISHED:2025/06/13      5 NEW MONGOLIAN PM TAKES OFFICE AFTER CORRUPTION PROTESTS WWW.AFP.MN PUBLISHED:2025/06/13      6 GOLD, MINED BY ARTISANAL AND SMALL-SCALE MINERS OF MONGOLIA TO BE SUPPLIED TO INTERNATIONAL JEWELRY COMPANIES WWW.MONTSAME.MN PUBLISHED:2025/06/13      7 AUSTRIA PUBLISHES SYNTHESIZED TEXTS OF TAX TREATIES WITH ICELAND, KAZAKHSTAN AND MONGOLIA AS IMPACTED BY BEPS MLI WWW.ORBITAX.COM  PUBLISHED:2025/06/13      8 THE UNITED STATES AND MONGOLIA OPEN THE CENTER OF EXCELLENCE FOR ENGLISH LANGUAGE TEACHING IN ULAANBAATAR WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/12      9 MONGOLIA'S 'DRAGON PRINCE' DINOSAUR WAS FORERUNNER OF T. REX WWW.REUTERS.COM PUBLISHED:2025/06/12      10 MONGOLIA’S PIVOT TO CENTRAL ASIA AND THE CAUCASUS: STRATEGIC REALIGNMENTS AND REGIONAL IMPLICATIONS WWW.CACIANALYST.ORG  PUBLISHED:2025/06/12      БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦЫН II БЛОКИЙГ 12 ДУГААР САРД АШИГЛАЛТАД ОРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/15     ОРОН СУУЦНЫ ҮНЭ 14.3 ХУВИАР ӨСЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/15     МОНГОЛ УЛСЫН 34 ДЭХ ЕРӨНХИЙ САЙДААР Г.ЗАНДАНШАТАРЫГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     SXCOAL: МОНГОЛЫН НҮҮРСНИЙ ЭКСПОРТ ЗАХ ЗЭЭЛИЙН ХҮНДРЭЛИЙН СҮҮДЭРТ ХУМИГДАЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ БАНК: ТЭТГЭВРИЙН ЗЭЭЛД ТАВИХ ӨР ОРЛОГЫН ХАРЬЦААГ 50:50 БОЛГОЛОО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ ДАХЬ НҮБ-ЫН ХҮҮХДИЙН САН, ТЭРБУМ МОД ҮНДЭСНИЙ ХӨДӨЛГӨӨНИЙГ ДЭМЖИХ САН, КРЕДИТЕХ СТМ ББСБ ХХК “ХҮҮХЭД БҮРД – НЭГ МОД” САНААЧИЛГЫГ ХАМТРАН ХЭРЭГЖҮҮЛНЭ WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/06/13     ЕРӨНХИЙЛӨГЧИЙН ТАМГЫН ГАЗРЫН ДАРГААР А.ҮЙЛСТӨГӨЛДӨР АЖИЛЛАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/13     34 ДЭХ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР ХЭРХЭН АЖИЛЛАНА ГЭЖ АМЛАВ? WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     “АНГЛИ ХЭЛНИЙ МЭРГЭШЛИЙН ТӨВ”-ИЙГ МУИС-Д НЭЭЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     Г.ЗАНДАНШАТАР БАЯЛГИЙН САНГИЙН БОДЛОГЫГ ҮРГЭЛЖЛҮҮЛНЭ ГЭЖ АМЛАЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/12    

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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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$35bn hit: Zuckerberg, Gates among those to suffer massive losses amid Trump-Russia claims www.rt.com

Billionaires and millionaires the world over have become poorer to the tune of $35 billion, following the media scandal surrounding allegations of highly classified data being leaked by US President Donald Trump to Russia.

Stock markets suffered a meltdown on Wednesday after the alleged revelations, resulting in huge losses for almost every one of world’s 500 richest people, according to Bloomberg. 

Facebook co-founder and CEO Mark Zuckerberg took the biggest hit, estimated at more than $2 billion. Shares in the social media giant fell 3.3 percent, but Zuckerberg still holds fifth position on the global rich list with around $62.3 billion, according to the Bloomberg index.

The richest person on the planet, Bill Gates, lost around $1 billion amid the carnage, as Microsoft’s shares suffered the most significant drop in almost a year – 2.8 percent. Still, Gates’ net worth is $86.8 billion, according to Bloomberg.

Gates was fourth on the list in terms of the amount of reduced capital. Jeff Bezos, the co-founder of Amazon.com, the world’s largest online retailer, is second after Zuckerberg based on the size of losses incurred amid the political uproar.

Before the stock market dive, Bezos was second behind Gates in terms of overall wealth. The turmoil saw Amazon shares recede 2.2 percent, however, and he now stands third with a $81.9 billion – a loss of more than $1.7 billion.

Bezos was overtaken on the list by Amancio Ortega, a Spanish business tycoon and chairman of Inditex, the world's largest clothing company, best known for its Zara chain. Ortega lost $355 million, five times less than Zuckerberg’s loss, and is now the second wealthiest person on the planet with $83.2 billion.

Wednesday’s market drop followed US media reports on alleged state secret leaks during the meeting between US President Trump and Russian Foreign Minister Sergey Lavrov last week.

The revelations were dismissed by Russia, with President Vladimir Putin calling them “political schizophrenia.” Earlier, the Russian Foreign Ministry also dismissed the media claims, saying that reading US newspapers can “not only be harmful, but dangerous.”

The eight richest people on Earth are estimated to possess wealth equal to that of the 3.6 billion people who make up the poorest half of humanity.

According to the latest Bloomberg estimates, the top 500 billionaires and millionaires are valued at around $4.9 trillion. A 2016 report by Boston Consulting Group said only 1 percent of the world’s population owns almost half of its wealth, and that the wealth of the rich is only growing.

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President: Mongolians are the backbone of Mongolia's development www.en.montsame.mn

Ulaanbaatar /MONTSAME/ “Presidential election is approaching, and candidates should think about what the President of Mongolia is capable of rather than what they will do if they are elected”, remarked President Ts.Elbegdorj as he met with the residents of Khovd city, center of Khovd aimag.
 
President Ts.Elbegdorj worked in Khovd aimag on May 16-17 to discuss the implementation of his 2009-2017 action plan. “I am delighted to be meeting with the people of my native province”, he said. The President was born and raised in Khovd aimag.
 
In his speech, the President touched upon the role and participation of President in decision making, percentage of government expenditures in GDP, President’s budget, government accountability and his active usage of social networking sites. “I am always in contact with the people wherever I go”, he said. The President’s Facebook page has 540 thousand likes and Twitter page has 240 thousand followers.
 
“I have been asked how Mongolia has developed in the last 27 years of democratic system. Mongolians developed. We have freedom of speech, choice and religion, we can make things happen. Mongolians are the backbone of Mongolia’s development”, he said.
 
During the meeting, L.Purevsuren, Foreign Policy Advisor, Ch.Unurbayar, Human Rights and Legal Policy Advisor, L.Dashdorj, Citizen Participation and Economic Policy Advisor, O.Chuluunbileg, Living Environment and Green Development Policy Advisor, A.Battur, Security and Defense Policy Advisor and A.Ganbaatar, Public Relations Policy Advisor delivered presentations on the President’s performance in each sphere.
 
Afterwards, the President also had a meeting with press delegates from Zavkhan, Gobi-Altai, Bayan-Ulgii and Uvs aimags.
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Nationalist politician enters race for Mongolian presidency www.dailymail.co.uk

ULAANBAATAR, May 18 (Reuters) - A third Mongolian presidential candidate who has strongly opposed Anglo-Australian miner Rio Tinto's part ownership of the massive Oyu Tolgoi copper mine entered the race on Thursday for next month's election.
Sainkhuu Ganbaatar, a populist former member of parliament and trade union leader, has been nominated by the Mongolian People's Revolutionary Party (MPRP) to run for president as the landlocked country faces economic troubles from heavy debt and slowing growth.
Ganbaatar was one of a handful of resource nationalist politicians whose criticism of foreign investment set off mining disputes that scared off investment and set the stage for the present economic difficulties now that the market for resource commodities has softened.
Mongolia's General Election Commission confirmed Ganbaatar's registration, paving the way for an election battle with the ruling Mongolian People's Party nominee, Miyegombo Enkhbold, and the opposition Democratic Party's Khaltmaa Batulgaa.
Ganbaatar was an independent legislator from 2012 to 2016 and a harsh critic of Mongolia's partnership with Rio Tinto, saying Mongolia should have struck a better deal.
Mongolia had been involved in a spat with Rio Tinto over the giant Oyu Tolgoi copper deposit, the launch of which in 2009 helped kick-start an economic boom in Mongolia.
However, Rio put an expansion of the project on ice in 2013 after Mongolia raised concerns about costs and repeated attempts to amend a 2009 investment agreement for the project.
Construction finally resumed last year after the release of $4.4 billion in project financing from lenders in December 2015.
Ganbaatar replaces MPRP chair and controversial former president Nambar Enkhbayar, who has not been allowed to stand by the election commission because of registration irregularities and his conviction for graft in 2012.
An Ulaanbaatar-based spokesman for Rio Tinto declined to comment on Ganbaatar's nomination.
Ganbaatar had the top spot in a survey ranking senior politicians by Mongolian pollster the Sant Maral Foundation in 2015 and 2016, when he was in the public's eye attacking Oyu Tolgoi. His popularity has since slipped.
Sant Maral head Luvsandendev Sumati said losing his seat in parliament showed that Ganbaatar's appeal had worn off.
"He's popular, but people consider that he's not fit for the office of the president," he said.
Mongolia, a former Soviet satellite sandwiched between China and Russia, is regarded as an oasis of democracy in the region. It goes to the polls next month to choose a new head of state after incumbent Tsakhia Elbegdorj completes his second term. (Reporting by Terrence Edwards; Editing by Ben Blanchard and Paul Tait)

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Large-scale projects to be implemented in coming years in collaboration with China www.mongolia.gogo.mn

 
Mongolia and China established 21 cooperation agreements and memorandums during Prime Minister J.Erdenebat’s visit to the People's Republic of China. Significances of some of the documents were asked by a MONTSAME correspondent from relevant officials and business delegates.
 
TECHNOLOGY TRANSFER CENTER TO BE ESTABLISHED BASED ON INNOVATION DEVELOPMENT
 
Minister of Education, Culture, Science and Sports J.Batsuuri on the MoU between the Ministry of Education, Culture, Science and Sports of Mongolia and Ministry of Science and Technology of China on the development of science park and innovation infrastructure:
 
“- Within the memorandum, an incubator center to transfer technology will be established based on science and technology park and innovation development. The document also indicates that young Mongolian scholars and researchers will be involved in training and conduct research in science institutes in China for long and short terms. We hope works to be done within the document will be contributions by the Chinese science and research institutions to the Mongolia's science development.
 
OYU TOLGOI IMPORT ENERGY FROM CHINA OVER THE NEXT FOUR YEARS
 
General Director of National Power Transmission Grid state-owned company B.Nyamsambuu: Our company signed an agreement on power purchase with Energy International Cooperation Company of Inner Mongolia, China. Oyu Tolgoi will import energy from China over the next four years and our company is in charge of the import agreement. As a result of successful talks, we managed to lower the price of importing energy by USD3 million by a yearly amount.
 
600MWt POWER PLANT TO BE BUILT IN DUNDGOBI AIMAG
 
“Mongol Power” LLC is to implement a power plant project in Tevshiin Gobi. Executive Director Erdembileg: “- Our company established a memorandum with Chinese Energy Investment Corporation to build 600 MWt power plant based on Tevshiin Gobi mine, located in Saintsagaan soum of Dundgobi aimag. A concession agreement was established in 2017 and the project is under the process of document development. The realization of the project is expected to start next year. The project aims to ensure energy stability of the central energy network and recover energy deficiency.
 
The USD1.1 billion project is the biggest since the construction of 4th combined power plant in 1982. Firebird company of the USA and other Mongolian investors will fund the project with a ration of 51:49. The plant will have an air cooling system, therefore it will utilize much less water: equals to 5 per cent water usage of a plant with water cooling system.
 
CONSTRUCTION FACTORY FOR AFFORDABLE HOUSES TO BE BUILT
 
A cooperation agreement was signed between Ganit Group of Mongolia and Junmin Juyuoi a technological company. Director of Ganit Group Ts.Batbayar ‘We will collaborate to establish house construction factory, which will have the latest modern technology for building houses at a minimum-cost. The factory will be significant to reduce air, soil and environment pollution while improving the living conditions of Ulaanbaatar residents through building new houses with a cost of less than MNT1million per square meter.
 
The construction is expected to cost CNY350 million and start this June. The factory will have an annual capacity of producing 1 million sq.m houses or houses for 200 thousand families in a year, which means in four years, housing need of Ulaanbaatar will be satisfied by building 4 million sq.m houses. The project will last for four years.
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Education cooperation between Mongolia and Italy discussed www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Ts.Jambaldorj, Ambassador of Mongolia to Italy met with Dorina Bianchi, Deputy Minister of Culture and Tourism of Italy. The two sides talked about future bilateral cooperation and steps to take following the meeting of the Mongolia-Italy Intergovernmental Commission held last April in Ulaanbaatar, in which Ms. Dorina Bianchi participated among Italian delegates.
 
Ambassador Ts.Jambaldorj mentioned that an agreement on cooperation in the fields of education, culture, science and sports between the governments of Mongolia and Italy in 2017-2020 is to be signed within the first half of this year. Also, he pointed out that the Embassy of Mongolia in Rome, Italy is studying a matter to hold an exhibition on Mongolian history and culture on the occasion of the 50th anniversary of diplomatic relations between Mongolia and Italy, which will be marked in 2020.
 
Deputy Minister Dorina Bianchi said that the Ministry of Culture and Tourism of Italy would like to intensify the bilateral collaboration with Mongolia in the cultural sector and expressed her willingness to organize reciprocal exhibitions in the capital cities dedicated to the anniversary.
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Alibaba Is U.S. Favorite as Hedge Funds Fly From Ctrip: Chart www.bloomberg.com

 
U.S. hedge funds increased their holdings in Alibaba Group Holding Ltd. more than any other U.S-listed Chinese stock in the first quarter, 13-F filings show, followed by a net increase in Momo Inc. That’s a change from the same period last year, when both companies were among those most sold. A net total of about $2 billion was added to holdings of Chinese stocks in the U.S. from the start of the year to the end of March. At the same time, the Nasdaq Golden Dragon Index gained 19 percent.
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Three candidates to run for president www.en.montsame.mn

On May 17, the General Election Commission held a press conference to announce the names of candidates for the upcoming Presidential Election to be held on June 26.
 
Three candidates – Parliament Speaker M.Enkhbold representing Mongolian People’s Party, former Member of Parliament Kh.Battulga representing Democratic Party and former Member of Parliament S.Ganbaatar representing Mongolian People’s Revolutionary Party will run in the June election to be Mongolia’s 5th President.
 
The candidates can open a bank account for donations, and entities can donate up to MNT 15 million and individuals up to MNT 3 million.
 
During the press conference, the GEC officials also reported that Mongolians living abroad will vote on June 10-11.
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Several documents expected for signing at Mongolia-Kuwait meeting www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting on May 27, Wednesday, the Cabinet approved the instructions for Mongolian delegates to partake in the first meeting of Mongolia-Kuwait Intergovernmental Commission which is to take place on May 23-24 in Kuwait city.
 
The meeting aims to reflect on bilateral ties and cooperation, determine future outlook, and discuss investment and collaborative projects. The Mongolian delegation to partake in the meeting is headed by Head of Cabinet Secretariat J.Munkhbat.
 
It was decided that the construction of National Burn Treatment Center would be financed by a non-refundable aid of the Government of Kuwait. During the meeting, the agreement on the project will be established. Moreover, Mongolian side will seek to establish an agreement on the project of asphalt pavement of Undurkhaan airport runway, Khentii aimag.
 
Moreover, a protocol on sanitary requirements for meat export to Kuwait and a memorandum of understanding between the standardization organizations of the two countries are planned to be signed during the meeting.
 
Over the years, the Kuwait Fund has granted soft loans worth USD 78 million and USD 13 million non-refundable aid to Mongolia.
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Erdenet Mining Corporation able to operate another 60 years www.en.montsame.mn

 
Orkhon /MONTSAME/ During the central region forum of mining industry held in Orkon aimag on May 15-16 on the occasion of the 95th anniversary of the development of the mining sector in Mongolia, Director of Erdenet Mining Corporation Kh.Badamsuren briefly informed about the current state of the Erdenet - one of the largest copper mines and some major works completed within the first four months of 2017.
 
As of the first quarter of 2017, the company has allocated over MNT 190 billion to the state budget and completed formulating a plan for the development tendency of the company for the next 15 years. “Erdenet Mining Corporation has a potential to work for another 60 years” he noted.
 
Furthermore, an issue of white dust produced by the mining activity of the Erdenet Mining Corporation in Orkhon aimag was discussed. In this regard, D.Tsogtbaatar, head of the Professional Association of Mining (PAM) said a request to reduce the dust emssions has been forwarded to the company. "Talks are underway to develop and introduce a new technology from USA to reduce dust emission”.
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Japan's economy just logged its longest stretch of growth in over a decade www.businessinsider.com

 
Japan’s economy grew at the fastest pace in a year in the first quarter of 2017, according to data released by the government on Thursday.
 
Real GDP increased by 0.5%, marginally shading expectations for a smaller expansion of 0.4%. It was also an improvement on the 0.3% increase of December quarter.
 
It was the fifth consecutive quarterly increase, the longest stretch of uninterrupted growth since 2006.
 
While a notable achievement, the record provides an indication about the struggles the Japanese economy has endured over that period, buffeted by falling population growth, deflation and the global financial crisis.
 
The quarterly increase took the seasonally-adjusted annual rate to 2.2%, the fastest growth seen since the first quarter of 2016. That was ahead of market forecasts for an increase of 1.7%, and followed an upwardly-revised December quarter figure of 1.4%.
 
According to the government, domestic demand grew by 0.4%, driven by a similar increase in private consumption during the quarter.
 
The latter accounts for around 60% of the total Japanese economy.
 
Elsewhere private residential investment rose by 0.7%, while business investment grew by a smaller 0.2%.
 
Public demand expanded by a smaller 0.1%
 
External demand, or net exports, added 0.1% to the quarterly GDP figure as exports grew faster than imports.
 
However, while real GDP grew, nominal GDP — including price movements during the quarter — recorded a marginal decline.
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