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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Bank of Mongolia implementing project to build gold refinery www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The Bank of Mongolia purchased 18.3 tons of gold in 2016 and is aiming to buy 20 to 25 tons annually between 2017 and 2020. Following this objective, the working group was assigned to research opportunities to build domestic gold refinery.
 
In compliance with the first stage of the National Sustainable Development Agenda 2030 and government's Gold-2 project, a joint working group was established to be composed of the central bank, Ministry of Mining and Heavy Industry, “Erdenes Mongol” LLC and Precious Metals Assay Inspection Department to conduct studies on opportunities to build domestic gold refinery and is now preparing plans for 2017.
 
Mongolia used to refine its gold in foreign countries, such as Russia, United Kingdom and Japan in the past and is currently refining gold in Switzerland. Refining Mongolian gold abroad takes a considerable amount of money for transportation, insurance and security. Also, the average content of gold extracted from Mongolia is around 85 percent, which has to be refined up to 99.99 percent in order to be traded on global markets.
 
Therefore, by establishing gold refinery plant, the aforementioned issues will be tackled and have a positive effect on the economy.
 
 
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Tavantolgoi-Gashuunsukhait road to be repaired www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Last year, the road connecting Tavantolgoi deposit with Gashuunsukhait Mongolia-China border checkpoint carried 16.3 million tons of coal and yielded revenue of MNT 31.33 billion. Unfrotunately, the same year has seen more than 200 accidents and traffic violations that took 3 lives.
 
At the regular cabinet meeting, held on April 5, Tuesday, Minister of Road and Transport Development D.Ganbat introduced some intended measures toward coal transports on the above mentioned route.
 
The main cause of accidents enroute is the road damages, triggered by the exceeded load and flow of traffic. The road has been taking 150-250 vehicles a day. Now with the increased coal price on the global market and the increased demand, about a thousand vehicles are transporting coal on this road.
 
Although maintenance works are being conducted as per the schedule, the road is still in dire need to go through overhaul repair, said the Minister.
 
The latter was then tasked to organized partial repairs for the Tavantolgoi-Gashuunsukhiat road without blocking the traffic.
 
Prime Minister J.Erdenebat instructed to include multiple road companies in the road repair works in order to complete the maintenance by October, as well as to ban the use of dirt road during the repair.
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Skin processing workshops to open in Bayankhongor www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Yesterday, April 5, opening ceremony of skin processing workshops, which is being established in Bayankhongor aimag with grant aid of the People's Republic of China, was held at Tuushin Hotel in Ulaanbaatar.
 
MP G.Zandanshatar said “- The Government has put an industrial policy 21:100. Moreover, people take initiatives to establish small and medium enterprises of processing in countryside. When I put a proposal regarding the initiative to the Embassy of China in Mongolia, they said to support with equipment and it is being realized now. The workshops and plant give possibility to process animal skins and produce value-added products”.
 
Sheep and goad skin processing workshops are to be built in six soums, namely Jinst, Bayangobi, Shinejinst, Bayanlig, Ulziit and Bogd of Bayankhongor aimag. A middle scale processing plant with capacity of less than 200 pieces of skins and hides daily will also be built in the aimag center.
 
Chinese Ambassador Xing Haiming said “- President of China Xi Jinping gives high importance to the relationship of the two countries. According to the guidelines of Xi Jinping and the Government, we are intensifying cooperation with Mongolia in all spheres. This includes active economic and business cooperation. Relationship with local community is also an integral part of the cooperation. Therefore we have made an investment to processing plant of friendship of Mongolia and China in Bayankhongor aimag. Further, we are ready to develop the cooperation actively”.
 
“- Some of the workshops presented to soums started their operations today. We express our gratitute to the Chinese Embassy for the investment of CNY200 thousand” said Governor of Bayankhongor aimag G.Batjargal. Today, sheep skin costs MNT 2000, and goat skin with its cashmere costs MNT20000 in the aimag. The workshops will process devalued skins at lower price and supply the processed skins to the market as well as planning to make some ready-to-use products. Over 50 new jobs are being created in Bayankhongor aimag as a result of the new workshops.
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Apple aims for more control, less cost as it accelerates in chip design www.reuters.com

 
Apple Inc's decision to stop licensing graphics chips from Imagination Technologies Group Plc is the clearest example yet of the iPhone maker's determination to take greater control of the core technologies in its products - both to guard its hefty margins and to position it for future innovations, especially in so-called augmented reality.
 
The strategy, analysts say, has already reduced Apple's dependence on critical outside suppliers like ARM Holdings Plc, now owned by SoftBank Group Corp. Apple once relied heavily on ARM to design the main processor for the iPhone, but it now licenses only the basic ARM architecture and designs most of the chip itself.
 
More recently, when Apple bought the headphone company Beats Electronics, part of a $3 billion deal in 2014, it ripped out the existing, off-the-shelf communications chips and replaced them with its own custom-designed W1 Bluetooth chip.
 
"Apple clearly got rid of all the conventional suppliers and replaced about five chips with one," said Jim Morrison, vice president of TechInsights, a firm that examines the chips inside electronics devices.
 
"Today we do much more in-house development of fundamental technologies than we used to," Apple Chief Financial Officer Luca Maestri said at a February conference. "Think of the work we do on processors or sensors. We can push the envelope on innovation. We have better control over timing, over cost and over quality."
 
Most vendors of consumer electronics products rely on outside suppliers for chip design and development, primarily because it is extremely expensive. That has created huge opportunities for companies like ARM, Qualcomm Inc and Nvidia Corp, which have developed core technologies for processing, communications and graphics that are used by scores of vendors.
 
Now, though, Apple is so big that it can economically create its own designs, or license small pieces of others' work and build on it. As with ARM and Qualcomm, the actual manufacturing of the chips is still contracted out to a semiconductor foundry, such as those run by Samsung Electronics and Taiwan Semiconductor Manufacturing Co Ltd.
 
MOVE FAST, SAVE MONEY
 
Bringing more of the design work in-house cuts complexity, people familiar with the processes say. Instead of managing one or more design teams and then a fabricator, Apple has only to manage the fabricator.
 
It may also help the company move faster - and save money - as it focuses on new technologies such as virtual and augmented reality. Apple CEO Tim Cook has indicated that Apple plans to integrate augmented reality into its products, which makes 3-D sensors and graphics chips like Imagination's especially important.
 
Even before formally cutting off Imagination, Apple had given hints that it was preparing to design its own graphics processors. Specifically, it introduced a piece of its own code called Metal for app developers. App developers use Metal to make their apps talk to the graphics chip on the iPhone.
 
By putting a piece of Apple-designed code between app developers and the phone's chip, Apple has made it possible to swap out the chip without interrupting how the developers work. That could also make it easier to bridge the gap for developers between the graphics chips on Apple's phones and its desktop computers, which currently require some separate coding.
 
“By promoting Metal instead of relying on other existing standards, Apple is not only able to control what graphics chip functionality is exposed at its own pace, but also blur the line for developers between coding for desktop and mobile GPUs," said Pius Uzamere, the founder of a virtual reality startup called Ether.
 
Taking control of the iPhone's chips can also help Apple keep costs down, which is especially important as it gears up for a feature-laden new iPhone this fall. Timothy Arcuri of Cowen & Co said in a research note that he thinks the curved screens expected on the new phone could add as much as $50 in cost, for example.
 
Shebly Seyrafi, an analyst at FBN Securities, estimates that the average price of an iPhone increased only 1 percent to $695 last quarter, while costs increased 8 percent to $420, resulting in an iPhone gross margin of 39.6 percent. That is down from the 44 percent average gross margin for iPhones in 2015, according to Seyrafi's estimates.
 
Apple spends only $75 million a year on licensing fees for Imagination's chips. But licensing fees to chip designers, taken together, are a significant cost for the iPhone. Apple recently sued Qualcomm for $1 billion over licensing terms for its communications chips - which Apple would have trouble designing in-house because of patent issues.
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Chinese firm BYD opens electric bus factory in Hungary www.chinadaily.com.cn

 
KOMAROM, Hungary - Chinese vehicle manufacturer BYD opened its first European electric bus factory in the northern Hungarian city of Komarom on Tuesday.
 
BYD is expected to invest a total of 20 million euros ($21.3 million) in the project to 2018.
 
Currently, there are 32 employees, but the company plans to employ around 300 people to assemble up to 400 electric buses a year on two shifts, which will be exported to customers across continental Europe.
 
After producing electric buses and coaches, the company will begin making electric forklift trucks and light commercial vehicles.
 
"They(BYD)have chosen Komarom and Hungary amongst many competitors from not only Europe, but also many parts of the world," Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said here at the opening ceremony.
 
Szijjarto underlined that the Hungarian government made every measure possible to turn the country into a target for not only production companies, but also those that want to make Hungary the location of their research and development center.
 
Hungary has the lowest corporate tax in the European Union, Szijjarto said.
 
Chinese Ambassador to Hungary Duan Jielong hoped that the BYD investment project could achieve mutual benefits and common development, and promote bilateral cooperation.
 
China's investment in Hungary has reached $4.1 billion in chemistry, financing, communications, logistics and automotive industry, Duan added.
 
Isbrand Ho, managing director at BYD Europe, said that his firm had chosen Hungary and Komarom because of its central location and its long tradition of engineering excellence.
 
"We are very conscious of the country's strong heritage of bus making in this immediate region," he said.
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Mongolia-Canada roundtable meeting result introduced www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During the Cabinet meeting took place on April 4, Ts.Dashdorj, Minister of Mining and Heavy Industry introduced a result of the seventh roundtable meeting between Mongolia and Canada, which was held in Ottawa, Canada last month.
 
At the roundtable meeting, the sides reviewed the current situation of bilateral cooperation in the fields of politics, economy, investment, defense, education, culture and science and defined further tendency of ties. The Cabinet obliged the Minister of Mining and Heavy Industry to approve a working plan to be carried out in accordance with the roundtable meeting and to put the implementation under control.
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Toshiba forced to buy 40% of UK's NuGen www.bbc.com

 
Toshiba has been forced to buy the 40% of the UK nuclear energy company NuGen that it does not already own.
NuGen has the contract to build a new nuclear power plant in Cumbria.
The French utility company Engie said it was exercising its "contractual rights" to sell its shares because NuGen was "facing some significant challenges".
Last week, Toshiba's Westinghouse in the US, which was to build the plant's reactors, sought bankruptcy protection.
The troubled Japanese giant said that only Westinghouse's US operations would be affected by the bankruptcy.
However, at the time media reports suggested bankruptcy could delay the project at Moorside in West Cumbria or even put its future in limbo.
'Action'
It is estimated that the Moorside plant would eventually provide as much as 7% of the UK's energy needs.
In Tuesday's statement Toshiba said the bankruptcy filing was "an action that meets the definition of an 'event of default' under the terms of the agreement" with Engie.
"Engie has accordingly exercised its rights to require Toshiba to buy its holding."
Toshiba is paying about 15.3bn yen ($138.5m; £111.2m) for the stake.
The added that it would "continue to look for investors interested in investing in NuGen, and seek to sell off its holding in the company".
Dispute
The problems at Westinghouse have dragged on Toshiba.
In December it emerged that it faced a heavy one-off loss linked to a deal done by Westinghouse, which had bought a nuclear construction and services business from Chicago Bridge & Iron (CB&I) in 2015.
But assets that it took on are likely to be worth less than initially thought, and there is also a dispute about payments that are due.
In February it emerged that the loss would be about $6.3bn (£5.05bn).
Toshiba's chairman resigned, the firm delayed releasing its full financial figures - initially for a month - and then even longer.
To plug the gap, Toshiba is set to sell a majority stake in its NAND flash-memory business to get it through its continuing financial turbulence.
All this came on top of Toshiba's struggles to turn the corner after a profit-inflating scandal.
In a statement, the Department for Business Energy and Industrial Strategy said: "The NuGen consortium has always planned to bring in other partners to deliver the project and we engage regularly with a range of developers and investors.
"The Secretary of State is currently in South Korea for talks on future collaboration between our two countries, including on potential civil nuclear projects."
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Banks won’t quit France if it’s out of euro – Le Pen www.rt.com

 
French presidential candidate Marine Le Pen who’s known for her anti-euro stance said on Tuesday investors won’t pull their money from France if it gives up the EU single currency.
 
"There's so much liquidity in the world that they are not going to pull their chips out of France, above all when France will once again be back on the road to economic growth," she told French Sud Radio and TV channel Public Senat.
 
According to Le Pen, investors "are worried because they know they will no longer be able to make the profits they made previously."
 
“The world has changed, and that's what's worrying them. The world is moving away from free trade and laissez-faire policy," she added.
 
The 48-year-old candidate said she will negotiate to restore French national sovereignty and will call a referendum where French voters would decide on the EU and euro membership.
 
Le Pen who has promised to take France out of what she called "the prison" of European Union politics earlier warned of a so-called ‘Frexit’ if the EU doesn’t transfer powers back to Paris.
 
During Sunday's political rally in Bordeaux she said the euro currency was like a knife in the ribs of the French people. The politician has pledged to restore the national franc currency if elected.
 
"We are at the mercy of a currency adapted to Germany and not to our economy. The euro is mostly a knife stuck in our ribs to make us go where others want us to go," Le Pen said.
 
The leader of the National Front has promised to curb migration, expel all illegal migrants and restrict certain rights now available to all residents (including free education) to French citizens.
 
Opinion polls suggest Le Pen will make it through the April 23 first round vote but will lose the May 7 run-off.
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Boeing signs first major deal with Iran under Trump administration www.rt.com

 
Boeing has signed a $3.4 billion deal with Iran's Aseman Airlines to supply 30 737 MAX aircraft to the carrier. It’s the first Boeing deal with Tehran since President Donald Trump took office pledging to take a harder stance with the country.
 
Aseman is owned by Iran's civil service pension fund and operates as a private company. It is the third-largest carrier in Iran.
 
The 30 jets are to be delivered as part of a larger deal, which implies a possible delivery of another 30 planes to Aseman. Boeing described the deal as a "memorandum of agreement."
 
At current prices, the 30 jets are worth $3.4 billion. However, carriers usually enjoy about 50 percent discount for such deals. The deliveries will start in 2022.
 
President Trump has said he opposes the cancellation of Iranian nuclear sanctions. However, he has not talked about the aircraft sales reached after the nuclear deal, which are saving thousands of American jobs.
 
"According to the US Department of Commerce, an aerospace sale of this magnitude creates or sustains approximately 18,000 jobs in the United States," Boeing said in a statement on Tuesday.
 
The new agreement comes on top of the $16.6 billion deal Boeing signed with Iran under Barack Obama’s administration. Boeing has agreed to sell 80 aircraft to flag carrier IranAir under the contract.
 
In January, Iran signed a deal with Airbus to buy 118 jets from Airbus for an estimated €22.8 billion ($25 billion). Iranian officials later said the contract would be cut to 112 planes.
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DP working group established to assess budget amendment bill www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Today, DP group in parliament announced that it has established a working group to assess and make conclusion regarding a bill on amendments to 2017 state budget. The bill is scheduled to be discussed at the parliamentary spring session, to be opened tomorrow and DP group has an opposing position to increase budget expenditure and some tax rates.
 
“- The International Monetary Fund has made conclusion that current difficulties were caused by price drop of mining products, which is main column of the economy and foreign investment fall. Current economic condition should be reviewed again and income from mining should be calculated realistically. Price of mining products is increasing and the situation turns positively in favor of Mongolian economy.
 
Today, one ton of coal costs USD150 and copper USD6000 at the world market, while coal price was USD30 and copper USD3000, when DP was in power. Money is flowing into Mongolia. In this time, Mongolians should accurately consider what for to spend money. We must not transfer our financial rights to foreigners” said head of the DP group D.Erdenebat, who also chairs the working group.
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