1 SPECIALIZED HOUSING FINANCE BANK TO BE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2025/07/25      2 179 PATENTS GRANTED IN FIRST HALF OF 2025 WWW.MONTSAME.MN PUBLISHED:2025/07/25      3 TURNING MORTGAGE BORROWERS INTO CAPTIVE MARKET FOR ONLY 2 COMPANIES WWW.UBPOST.MN PUBLISHED:2025/07/25      4 MONGOLIA WELCOMES NEARLY 350,000 FOREIGN TOURISTS IN H1 WWW.XINHUANET.COM PUBLISHED:2025/07/25      5 MONGOLIA'S INDUSTRIAL OUTPUT SHRINKS 2.8 PCT IN 1ST HALF OF YEAR WWW.XINHUANET.COM PUBLISHED:2025/07/25      6 OFFICIAL AGREEMENT REACHED TO OPEN BUSAN PORT TO MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/07/25      7 15TH EDITION OF SILK WAY RALLY CONCLUDES WWW.UBPOST.MN PUBLISHED:2025/07/25      8 PRESIDENT U.KHURELSUKH BEGINS STATE VISIT TO TAJIKISTAN WWW.GOGO.MN PUBLISHED:2025/07/24      9 MONGOLIA RENEWABLE ENERGY 2025: 5 ESSENTIAL STEPS FOR SUCCESS WWW.PVKNOWHOW.COM PUBLISHED:2025/07/24      10 MONGOLIAN BANKING SECTOR'S NET FOREIGN ASSETS DOWN 60.2 PCT IN JUNE WWW.XINHUANET.COM PUBLISHED:2025/07/24      ГАДААДЫН ИРГЭНИЙГ ХҮЛЭЭН АВАХ ИРГЭН, БАЙГУУЛЛАГА ДАРААХ БАРИМТ БИЧГИЙГ БҮРДҮҮЛНЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/07/25     ТУУЛЫН ХУРДНЫ ЗАМЫН ГАЗАР ЧӨЛӨӨЛӨЛТ ҮРГЭЛЖИЛЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/07/25     БУРХАД ДАЙТАХ ЦАГААР: ЯПОНЫ ЭЗЭН ХААНЫ АЙЛЧЛАЛЫН ЭРГЭН ТОЙРОНД WWW.UNREAD.TODAY НИЙТЭЛСЭН:2025/07/25     COP17 БАГА ХУРАЛД ГАДААДЫН 7-10 МЯНГАН ЗОЧИН, ТӨЛӨӨЛӨГЧ ОРОЛЦОНО ГЭЖ ТӨЛӨВЛӨЖЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/07/25     А.ЭНХТӨР: ДОРОЙТОЖ БУУРАЙТСАН Ч ЭРГЭЭД УЛСАА БАЙГУУЛЖ, ХӨГЖИЖ ИРСЭН ТҮҮХ БИЙ. "ЧИНГИСИЙН ДАЛАН" ТҮҮХИЙН ШИНЭ ЭРГЭЛТ АВЧИРНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/07/25     МОНГОЛ УЛСЫН ЕРӨНХИЙЛӨГЧ УХНААГИЙН ХҮРЭЛСҮХИЙН БҮГД НАЙРАМДАХ ТАЖИКИСТАН УЛСАД ХИЙЖ БУЙ ТӨРИЙН АЙЛЧЛАЛ ҮРГЭЛЖИЛЖ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/07/25     УЛААНБУРХАН ӨВЧНИЙ НИЙТ БАТЛАГДСАН ТОХИОЛДОЛ 12925 БОЛЛОО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/07/25     THE TIMES OF CENTRAL ASIA: МОНГОЛ УЛС ТӨВ АЗИЙН ОРНУУДТАЙ ХАРИЛЦААГАА ГҮНЗГИЙРҮҮЛЖ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/07/24     ТАЕКВОНДОГИЙН АЗИЙН АВАРГА ИРЭХ ОНД МОНГОЛД БОЛНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/07/24     ЯПОНЫ АЛДАРТ ДАСГАЛЖУУЛАГЧ КАЗҮХИТО САКАЙЯ МОНГОЛЫН ЧӨЛӨӨТ БӨХИЙН ҮНДЭСНИЙ ШИГШЭЭ БАГТ ЗӨВЛӨНӨ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/07/24    

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Events

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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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Ebook sales drop as readers favour non-fiction books www.bbc.com

 
Sales of ebooks dropped 3% to £538m last year, according to the Publishers Association trade body.
But total book sales including physical books rose 6% to £3.5bn, according to the data, led by non-fiction gains.
Readers flocked to fitness and self-help books, sending non-fiction sales up 9%, while fiction revenue fell 7%.
Exports rose 6% to £2.6bn, benefiting from a decline in the value of sterling, but also rising in line with domestic growth.
The gain reversed three previous years of export decline.
In 2015, adult colouring books and the 150th anniversary of Alice in Wonderland helped the swell in physical book sales, while ebook sales fell 1.6%.
This time, books on the Danish concept of hygge, which is usually translated into English as "cosiness", assisted factual sales, as well as fitness books by personal trainer Joe Wicks.
While ebook sales took a hit, digital distribution helped other media.
Journals made a 10% gain last year to £1.2bn, led by a jump in electronic subscriptions, making the market for books and journals worth £4.8bn.
"Last year, one of the most eye-catching figures from our statistics was that physical book sales were increasing while digital book sales dropped," said chief executive Stephen Lotinga.
"While many will debate as to whether this trend will continue, we should not ignore the fact that digital sales beyond the domestic ebook market are growing."
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Second compact to address water issues in Ulaanbaatar www.montsame.mn

Ulaanbaatar /MONTSAME/ During its regular meeting on April 26, Wednesday, the Cabinet discussed and approved an agreement on the implementation of the nonrefundable aid for the formulation of Millennium Challenge Corporation compact proposal. Minister of Foreign Affairs Ts.Munkh-Orgil was authorized to sign the agreement.

With establishment of the agreement within this month, it will be possible to launch the technical and economic feasibility study on the projects of the compact by this June. The Mongolian government plans to propose the final report of the feasibility study by November this year and sign the compact within the first quarter of next year.

The agreement comprises 7 articles and 4 annexes, reflecting the responsibilities of the sides in formulating and ensuring the initial preparation of the compact, financing measures, tax exemption and other conditions.

In the frameworks of the Millennium Challenge Corporation activities, measures on increasing Ulaanbaatar water supply with underground sources, reusing recycled water for industrial purposes, bringing about policy and institutional reformation in water sector and improving the legal environment will be forwarded.

In addition to the compact funds, the Millennium Challenge Corporation will also provide USD 10 million and 500 thousand fund to cover the compact pre-implementation costs.

Kh.Aminaa

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Canada threatens to play hardball with Trump over lumber tariffs www.rt.com

 
Trade relations will not be easy-going after the US imposed 20 percent tariffs on Canadian lumber, warned Canadian Foreign Minister Chrystia Freeland.
 
"When it comes to defending Canada's economic interests, we're going to play hard," Freeland told CNN on Tuesday.
 
"We're nice guys: Politeness is something we believe is a national virtue, but it's not an accident that hockey is our national sport," she said.
 
US President Donald Trump told reporters that given America has the trade deficit [over $500 billion], he is not afraid of any trade war.
 
On Monday, the US Department of Commerce announced the Trump administration would impose a 20 percent tariff on Canadian softwood lumber, including specific tariffs for five Canadian lumber firms that range from three to 24 percent.
 
Secretary of Commerce Wilbur Ross told reporters Canada wasn't being a "good neighbor," accusing the country of “dumping lumber” on the US market.
 
The US lumber industry has argued for decades that because most Canadian timber is harvested on Crown lands, and the way provincial governments manage and set prices results in cheaper lumber.
 
An investigation by the Commerce Department has concluded that Canadian authorities subsidize timber companies to help them sell to the US at lower prices.
 
LamarqueTrump signs 'Buy American, Hire American' order
In the past, US Presidents George W. Bush and Barack Obama also imposed temporary tariffs on Canadian lumber.
 
The decision by the Trump administration came after failed talks to cut Canadian tariffs on US dairy products, which are 270 percent. This helps Canada to increase domestic prices and keep American and other countries’ produce out of the country.
 
However, when Canada' s supply management was introduced in the late 1960’s, it had 140,000 dairy farms. Now it has fewer than 12,000, but Canadian authorities are still voting to support the protectionist measure.
 
"Canada has made business for our dairy farmers in Wisconsin and other border states very difficult. We will not stand for this. Watch!" Trump tweeted Tuesday morning before the announcement.
 
The United States, Canada, and Mexico are expected to start renegotiating the North American Free Trade Agreement (NAFTA), which was signed in 1992 and defines trade between the countries.
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China crushes South Korea tourism over US missile presence www.rt.com

 
South Korean tourism has been severely hit by a Chinese boycott over the deployment of a controversial US-backed anti-missile system approved by Seoul.
In March, South Korea saw a 40 percent drop in Chinese visitors, according to the Korea Tourism Organization (KTO). Total visitor numbers last month fell more than 11 percent to 1.23 million year-on-year.
 
Bookings for stays by Chinese travelers are down 28 percent in the second quarter of the current year against a year earlier, according to the outlook by ForwardKeys, a provider of travel industry data.
 
The plunge in Chinese tourism comes after South Korea agreed to install a US Terminal High Altitude Area Defense (THAAD) system earlier this year.
 
Seoul insists THAAD is a deterrent to possible missile attacks from North Korea. However, Beijing repeatedly expressed concerns over the system, as its powerful radar may penetrate into Chinese territory.
 
The Chinese government reportedly banned tourist agencies from selling tours to South Korea following the move.
 
Chinese tourists, who are seen as deep-pocketed spenders, accounted for 8 million of the nearly 17 million people that visited South Korea last year.
 
“There's been a big reduction in the number of groups of Chinese tourists in Seoul since the THAAD missile crisis,” said Kil Ki-yon, director of Seoul Tiger Bus, a company that takes Chinese visitors on tours of the city, as quoted by CNN News.
 
South Korea could stand to lose $9.63 billion in tourism revenue, according to estimations.
 
The decline in visitors from China has also hit duty-free shops in South Korea, as the Chinese accounted for about 70 percent of their total sales, according a spokesman from Lotte Duty Free. Sales to Chinese customers have already dropped 40 percent year-on-year since mid-March.
 
South Korea has tried to attract more visitors from Japan and Southeast Asia to make up for the losses. However, growing regional tensions over North Korea have diminished a slight rise in the number of Japanese visitors.
 
“Japanese tourists are putting off their trips to this country, apparently because of overblown Japanese media reports about tensions on the Korean peninsula,” said a KTO official quoted by Yonhap news agency.
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Preliminary balance of payments for March, 2017 www.montsame.mn

Ulaanbaatar /MONTSAME/ Current and capital account balance totaled to USD 38.4 million surplus, which is USD 83.8 million increase compared to the same period last year. The change was mainly due to increase by 32 percent or USD 30.4 million in goods and services account, and decrease by 31 percent or USD 63.8 million in primary income account.

Financial account had a surplus of USD 173.1 million in the first 3 months. Last year, Mongolia had a net borrowing of USD 202.2 million from the rest of the world, whereas this year it totaled to USD 173.1 million outflow. Thus, the net external financing had decreased by USD 375.3 million. As of the first 3 months of 2017, overall balance of payments deficit was USD 165.7 million.

B.Oyundelger
Source: www.mongolbank.mn

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UEA five hightailing to Mongolia for Mind www.concrete-online.co.uk

 
Some would say packing a suitcase and hopping on a plane is the conventional way to travel over 8,000 miles, but not for the five UEA students who will be hightailing it from Norwich to Mongolia in two cars (one they call “Mildred”) and a motorbike.
 
What started off as a conversation of ‘what ifs’ for Will Vickers, Luke Phillips, Luke Dexter, Josh Melling and Edd Nabbs will lead them on an adventure to raise money for charity.
 
On June 11th this year, the students will start to make their way through Europe, down the Dalmatian Coast, north Turkey, into Georgia then Azerbaijan, across the Caspian Sea, into Kazakhstan and finally arriving at Mongolia.
 
They have based their journey on the internationally recognised Mongol Rally, developed by ‘The Adventurists’.
 
The fact that even they have described their journey as “crazy” on their website is a bit of a punchline, as these five men have chosen to support the UK mental health charity Mind, and will be donating 100 percent of their proceeds to the cause.
 
They told Concrete: “Firstly we feel that anything we can contribute will actually go towards services that can help someone in need, whereas in larger charities what happens with donated money is not always as transparent.”
 
When asked why they chose Mind, they explained: “Mental health is a huge issue on the agenda, especially for students. We thought, let’s raise some money for a great charity, and open up the conversation about mental health, especially among young men, where that conversation is quite often ignored.”
 
Team Norwich 2 Mongolia (N2M) said, “‘UEA’s outlook on mental health is all over the place.”
 
They added: “There is not enough funding for mental health services at university so a lot of people miss out…Norwich Nightline could be so much better…students often end up relying on external services.”
 
As June approaches, Team N2M are asking people to donate in any form, be that sponsorship, gifts, merchandise and services. They are also offering incentives for donations. Donating £10 will get the sponsor “forever emblazoned into our legendary journey”, with their name inked onto one of the cars, and £30 allows them to suggest challenges or punishments for the five guys to make, to keep their trip as interactive with UEA students as possible.
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Climate-stressed Mongolia urged to put yaks before mines www.indianexpress.com

 
Mongolia should diversify its economy in the face of climate change and other stresses, as reliance on mining at the expense of its livestock industry has put people at risk of commodity price shocks and rising unemployment, an international aid group said. Ramesh Singh, Mongolia director for Mercy Corps, said strengthening rural livestock markets and establishing centres of economic activity outside the over-stretched capital would enrich the nation’s coffers, provide work for young people, and boost the country’s resilience.
Mongolia has struggled with an economic crisis since 2016 due to government over-spending and declining revenues from its exports, which include copper and coal. “We have reached a tipping point,” said Singh, whose U.S.-based organisation has worked in Mongolia since 1999. Youth unemployment, climate change and heavy urbanisation in the capital city of Ulaanbaatar are key issues that must be tackled, he added. A Mercy Corps report issued last week said the mining sector employs only 3.6 percent of Mongolia’s total workforce.
“There’s a realisation among government and development partners that it was a big mistake to focus solely on a single sector,” said Singh, noting how a 17 percent growth rate in 2012 has nosedived to a projected 1.4 percent in 2017. Meanwhile, around 30 percent of Mongolia’s 3 million people live off herding horses, goats, sheep, camels, yaks and other cattle, according to the World Bank, and meat is the primary source of food for the population.
Those unable to make ends meet in rural areas – especially young people working in low-paid animal husbandry or unpaid family jobs – usually move to the capital. There, many end up living in “ger districts”, makeshift neighbourhoods named after Mongolia’s traditional yurt dwellings, where pollution, poverty and domestic violence are rife, aid agencies say.
MEAT MARKET
In February, the Red Cross appealed for $654,000 to support thousands of Mongolian herder families suffering from a second consecutive “dzud” in which a summer drought is followed by harsh winter conditions, leading to widespread livestock deaths. Climate change could lead to more erratic rainfall and increase the frequency of droughts and dzuds, said the Mercy Corps report. But Singh said a profitable, modern herding system attractive to young people could be developed.
“There is a huge market potential from China and Russia which are ready to buy meat from Mongolia. There’s an opportunity to develop another export market here,” he told the Thomson Reuters Foundation by phone. Mercy Corps is supporting a law to protect grazing land, and hopes to join planned efforts to map how many animals the country’s pastures can support.
Its report also recommends educating herders to keep fewer, better-quality livestock, as well as developing financing to protect herders from climate threats, including insurance. The world’s first index-based livestock insurance was launched in Mongolia in 2005 but take-up has been slow due to a lack of awareness and affordability.
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Erdenes Mongol says it will complete the Erdenes TT shareholder registry www.theubpost.mn

Deputy Director of Erdenes Mongol G.Ganbold reported that thecompany will be working in cooperation with Erdenes Tavan Tolgoi and the Ministry of Finance to resolve concerns about citizen held shares in Erdenes TT, and promised that measures would be taken to address the registration of all company shareholders. The statement by the Deputy Director was made during the “Privatization in Mongolia: Opportunities and Lessons from Past Mistakes” session of the Investor Nation forum. MPs L.Enkh- Amgalan and Ch.Khurelbaatar, as well as economist R.Amarjargal and attorney L.Naranbaatar also participated in the discussion about the 1,072 shares of the company issued to each Mongolian citizen.

Former Prime Minister Su.Batbold’s administration provided each Mongolian citizen with 1,072 shares in Erdenes Tavan Tolgoi. The decision has become a hot button issue in political spheres and among the general public since its inception.

Erdenes Mongol is responsible for managing the Mongolian government’s shares in the nation’s mining assets, including Oyu Tolgoi LLC, Erdenes Tavan Tolgoi JSC, Baganuur JSC, and Shivee Ovoo JSC. As a result, Erdenes Mongol could act as a key catalyst in improving the shareholder rights of citizens.

G.Ganbold promised that a significant measure to resolve the issues surrounding the citizen held shares will be taken within the next three months.

“By completing the registration of Erdenes TT shareholders, every shareholder will be able to receive company dividends starting in 2018,” stated G.Ganbold.

In light of recent news that Erdenes TT has paid off its debt to the Aluminum Corporation of China Limited (CHALCO), there have been talks of a potential IPO offering. The Deputy Director addressed this by saying that the first priority of the company is to complete its shareholder registration and to repay its remaining debt.

“We might start preparation for an IPO beginning in 2018. Of course, in order to have an IPO, we need to fulfill certain financial and operational requirements,” said G.Ganbold.

The Deputy Director also mentioned that Erdenes TT still has a long way to go before fulfilling the requirements put forth by the major stock exchanges around the world, and said that an IPO would certainly take some time to prepare.

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Cabinet approves 100 million USD ADB project to reform the banking system www.theubpost.mn

 
Cabinet has reached an agreement with Asian Development Bank (ADB) to launch a 100 million USD project to implement the systemic reform of the banking system.
 
The project is called Reviving the Banking Sector, Enhancing Financial Stability. The project is being financed with a 15-year loan from the ADB, with no payment required from the Mongolian government for the first three years.
 
There will be 12 measures undertaken as part of the project, including the establishment of an asset management company to address the increasing amount of non-performing loans in the sector. Laws will be amended in order to ensure financial stability in the sector, and regulation and governance of commercial banks will be strengthened.
 
The amount of non-performing loans in the Mongolian banking system has significantly increased. As of 2016, the amount of non-performing loans had reached 1.7 trillion MNT, or 14.2 percent of all loans. The volume of non-performing loans in 2016 was the highest it has been in the past six years.
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Mongolian delegation meets Chancellor Merkel www.news.mn

 
A Mongolian delegation led by L.Bold, head of the Mongolian-German inter-parliamentary group has participated in the famous Hannover Messe, which is the world's largest industrial fair. During the event, which began on Monday 24th April, the German Chancellor received the Mongolian delegation and discussed cooperation issues. Angela Merkel has visited in Mongolia twice since becoming Chancellor of Germany.
 
Chancellor Merkel made a speech during the opening ceremony of Hanover fair, which attracts more than 6500 companies from 70 countries. The fair is showcasing that “Industry 4.0” — the industrial internet of things, or IIoT, transforming the way goods are manufactured and sold — is becoming a reality, creating cost savings and enhancing productivity.
 
Germany, together with the UK, is Mongolia's main trading partner in the European Union.
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