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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Amazon buys Souq in big play for Middle East market www.cnn.com

Amazon has had its eye on the Middle East for some time. Now it's finally made a move.
It has agreed to buy the region's biggest e-commerce platform, Souq.com.
"Joining the Amazon family will enable souq.com to continue growing while working with Amazon to bring even more products and offerings to customers worldwide," Souq said in a statement.
The statement did not disclose the size of the deal. CB Insights valued Souq at more than a billion dollars, after it raised $275 million from investors last year. Souq does not disclose financial information.
Amazon (AMZN, Tech30) had to beat off local competition for the online marketplace.
Emaar Malls, an arm of Dubai's biggest real estate developer, said on Monday it bid $800 million for Souq.com.
Founded 10 years ago by Ronaldo Mouchawar, Samih Toukan and Hussam Khoury, Souq has become the biggest player in the market. Mouchawar estimates online shopping in the Middle East was worth $20 billion in 2016.
Related: Saudi Arabia and Burj Khalifa developer launch Gulf answer to Amazon
When Souq started out, e-commerce was virtually unknown in the Middle East. Back then, the company employed five people in Dubai. Now it has 3,000 workers across the Arab world and sells more than 8 million products in 31 categories.
Analysts at Standard Chartered estimate that e-commerce in the region is growing by 30% each year, and that many markets remain untapped.
The acquisition is expected to close this year.

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Samsung plans to sell refurbished Galaxy Note 7s www.reuters.com

Tech giant Samsung Electronics (005930.KS) plans to sell refurbished versions of the Galaxy Note 7 smartphones, the company said late on Monday, signaling the return of the model pulled from markets last year because of fire-prone batteries.

Samsung's Note 7s were permanently scrapped in October after some phones self-combusted, prompting a global recall roughly two months after the launch of the near-$900 devices.

A subsequent investigation found manufacturing problems in batteries supplied by two companies - Samsung SDI Co and Amperex Technology.

Analysis from Samsung and independent researchers found no other problems in the Note 7 devices except the batteries, raising speculation that Samsung will recoup some of its losses by selling refurbished Note 7s.

A person familiar with the matter told Reuters in January that it was considering the possibility of selling refurbished versions of the device or reusing some parts.

Samsung's announcement that revamped Note 7s will go back on sale, however, surprised some with the timing - only days before it launches its new S8 smartphone on Wednesday in the United States, its first new premium phone since the debacle last year.

Under pressure to turn its image around after the burning battery scandal, Samsung had previously not commented on its plans for recovered phones.

"Regarding the Galaxy Note 7 devices as refurbished phones or rental phones, applicability is dependent upon consultations with regulatory authorities and carriers as well as due consideration of local demand," Samsung said in a statement.

South Korea's Electronic Times newspaper, citing unnamed sources, said on Tuesday that Samsung will start selling refurbished Note 7s in its home country in July or August and will aim to sell between 400,000 and 500,000 of the Note 7s using safe batteries.

Samsung said in a statement to Reuters that the company has not set specifics on refurbished Note 7 sales plans, including what markets and when they would go on sale, though it also said it does not plan to sell refurbished Note 7s in India or the United States.

The company said refurbished Note 7s will be equipped with new batteries that have gone through Samsung's new battery safety measures.

"The objective of introducing refurbished devices is solely to reduce and minimize any environmental impact," it said.

The company estimated that it took a profit hit of $5.5 billion over three quarters because of the Note 7's troubles. It had sold more than 3 million of the phones before taking the model off the market.

Samsung also plans to recover and use or sell reusable components such as chips and camera modules, as well as rare metals such as copper, gold, nickel and silver from Note 7 devices it opts not to sell as refurbished products.

Environment rights group Greenpeace and others had urged Samsung to come up with environmentally friendly ways to deal with the recovered Note 7s. Greenpeace said in a separate statement on Monday that it welcomed Samsung's decision and that the company should carry out its plans in a verifiable manner.

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Czech-Mongolia Business seminar (Mining sector) www.mongolianbusinessdatabase.com

Embassy of the Czech Republic in Mongolia is inviting you to the visiting Czech companies and their product introductory meeting at EEIBC at Galaxy tower on April 04. 2017 between 15.00-17.30

The business delegation includes the top officials of open and underground mining equipment producer and service providers such as horizontal and vertical transportation, alarm security, transmitting belt, communication techniques, trolley, electric security measurement, operational techniques, coal ash and oxygen measurement analyzator and so on.

Please R.S.V.R at 321886 (24), 99018708 before April 02.Tuesday

Venue: Executive Excellence International Business Center
Galaxy Tower 10th floor 1003
Mahatma Gandhi Street Tel: 77109911, 77106611

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Mongolia-China cross country transportation service opens www.montsame.mn

Ulaanbaatar /MONTSAME/ Cross country transportation service through Khavirga-Ar Khashaat border crossing from Choibalsan city of Dornod aimag to Manzhouli, China opened on March 27.

The opening ceremony was attended by Governor of Dornod aimag and officials of National Road Transport Department of Mongolia. P.Delgernaran of Road Transport Service said “As discussed during the 30th joint session between the Mongolian and Chinese delegates of road transport sector, cross country transportation between Choibalsan city and Manzhouli of Inner Mongolia, China route is now launching. This will enable safe transportation service between the designations”.

Having signed a contract with the National Road Transport Department, “Tal nutgiin Kherlen” LLC and “Mongol aylal juulchlal” LLC will be responsible for the transportation service. In the designated route, large-sized bus will be available on Monday and Wednesday at the moment. By an estimate, normal-sized buses will be scheduled twice on Friday if the passengers increase. The travel expense will cost MNT 44 thousand for adult.

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Minor corruption spreads in education sector www.montsame.mn

Ulaanbaatar /MONTSAME/ The Asia Foundation and Ministry of Education, Culture, Science and Sports (MECSS) conducted a survey on “Transparency, ethics and corruption issues in Education sector” and on March 27, yesterday, they presented the results of the survey to officers of the Ministry.

The survey concluded that ethical offences and minor corruption is widespread in educational service and common cash transfer through teachers and students negatively influence their ethics and behavior. The survey also revealed that collection of donations, fees and payments, transparency and control on them and reporting were insufficient.

Chairwoman of MECSS Education policy department D.Erdenechimeg noted that the ministry plans to take certain measures following the survey result.

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Japanese firms entering India's smartphone market www3.nhk.or.jp

 
India is the world's 2nd largest smartphone market after China. Now Japanese electronics firms are trying to get their share of the pie.
 
Panasonic has introduced new smartphones with an advanced artificial intelligence virtual assistant.
The AI analyzes user's behavior and suggests relevant apps and information.
 
The low-price products were developed jointly by Indian and Japanese information technology engineers.
 
Panasonic gave up on its consumer smartphone business in 2013 after losing sales to the iPhone and other models. But the firm has been developing smartphones in IT-advanced India, hoping their new technology will win customers in India.
 
Another Japanese electronics firm, Sony, is planning to introduce high-performance, high-priced smartphones in India soon.
 
India's smartphone market is now bigger than that of the United States.
 
Part of the explosive growth comes from the government's promotion of a cashless policy. It's led to an increase in devices that use electronic money.
 
Competition in the Indian smartphone market is already fierce, with Chinese and Indian companies introducing smartphones with a variety of functions.
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Investors seek new catalyst for eurozone stocks www.ft.com

 
Roughly translated as ‘the more things change, the more they stay the same’ — the French proverb will have struck a chord for investors in European equities over the past decade.
 
The US stock market has outshone European stocks for seven of the past 10 years, including 2016 when, with the European Central Bank still adding monetary stimulus, the asset class was billed as one investors simply had to own.
 
Yet as the first quarter draws to an end, there are signs that 2017 could be different. The FTSE Eurofirst 300 index, a benchmark for European stocks, now leads the S&P 500 in both local currency and US dollar terms since Donald Trump’s election as US president.
 
The global reflation trade has been a tailwind: shares of eurozone banks have risen by almost a fifth since Americans went to the polls.
 
Of more significance for many is that European companies are finally delivering earnings growth, helping to attract about $250m into funds focused on western European equities this year, according to data tracker EPFR.
 
Now, in an echo of the way in which Mr Trump’s election helped further galvanise equities, some money managers believe that elections in France and Germany could prove the next catalyst by delivering a combination of reform and fiscal stimulus.
 
“There is little doubt that fiscal stimulus would be taken positively by European equity markets,” said Paul Markham, who runs a global equities fund at Newton Investment Management.
 
In Germany, a hard-fought campaign between Angela Merkel’s Christian Democrats and Martin Schulz, the leader of the Social Democrats and her chief challenger, has the potential to shift domestic politics on the question of stimulus, investors say.
 
Meanwhile, Emmanuel Macron, tipped by polls to win the French presidency, has a reformist agenda.
 
James Sym, European equities fund manager at Schroders, says its base case for the French and German elections, which are in the spring and autumn, respectively, opens the door to a very market-friendly outcome.
 
“Our base case is for a Macron victory in France and potentially a Schulz victory in Germany. In shorthand, this would lead to France structurally reforming while Germany uses its fiscal space, which would be very positive.”
 
If the attention of some investors is turning to the potentially pro-market outcomes of elections in France and Germany, most equity analysts argue that it is the improvement in earnings that has so far been key to brightening sentiment.
 
Sebastian Raedler, head of European equity strategy at Deutsche Bank, says the earnings outlook remains “the biggest driver for the region’s equities by far”.
 
He has little doubt that, this time, it really is different for Europe. “The earnings recession is definitely over,” he argues, adding that earnings per share levels in real terms have returned to levels seen in 2009 — that was a year European stocks outperformed.
 
What’s more, the region will not be able to escape any wider stumble in equities if confidence does evaporate in Mr Trump’s ability to pass tax cuts and fiscal stimulus. Peter Garnry, head of equity strategy at Saxo Bank, estimates that equities could drop by as much as 10 per cent if that scenario unfolds.
 
That prospect will not be enough to deter the number of investors who believe that European equities hold greater value, especially to those prepared to examine sectors that have remained unloved.
 
“Stockpickers willing to dig down into these sectors will be rewarded with companies that offer world-class technology, yet trade at valuation multiples typically below their US-listed new economy peers, as Europe is often overlooked as a centre of innovation,” says Tim Crockford, a European equities portfolio manager at Hermes Investment Management, who points to opportunities with technology and industrial sectors.
 
However, with investors having pulled about $100bn from European equity funds since the start of 2016, more will have to come around to Mr Crockford’s view to cement the early signs of a change in sentiment. The eurozone’s major elections this year may yet help.
 
 
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New mine in Iran to add 800,000 tonnes of zinc concentrate every year www.mining.com

 
Zinc has rallied of late, being the best performing commodity on the London Metal Exchange for the week March 13-17.
 
Up 12% year to date, the corrosion-resistant metal is being buoyed by record refined output in China and tight supply after a number of mine closures.
 
News out of Iran this week, however, could stem price gains, especially if more zinc mines come on stream around the same time as plans to develop the massive Mehdiabad zinc mine, come to fruition. Reuters reported that Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) signed a $1-billion deal with private investors over the weekend to build the mine, which is expected to become operational in four years and produce an annual 800,000 tonnes of zinc concentrate.
 
The investors comprise a private consortium of six companies, led by Iran's Mobin Mining and Construction Company, which would run the mine for 25 years.
 
IMIDRO estimates the lead-zinc-silver mine has 154 million tonnes of proven reserves, which could rise to 700 million tonnes after exploration. Reuters notes the 800,000 tonnes of expected annual zinc concentrate compares to 13.2 million tonnes of zinc in concentrate produced throughout the world last year.
 
The announcement comes as Washington voted in January to extend sanctions against Tehran, whose nuclear ambitions have been a thorn in the side of the West, despite a historic deal made in 2015 with six countries in exchange for curbing its nuclear program.
 
Iran has the world's largest proven zinc reserves estimated at roughly 300 million tonnes, but the sector is vastly underdeveloped according to BMI Research, with just 0.5% mined so far. Iran sits behind China, Kazakhstan and India as the world's number four producer of zinc ore.
 
After several years of production decline, Iran's zinc mine output is set to return to positive growth, boosted by stronger international prices and booming demand from domestic construction.
 
The two largest mines are Mehdiabad with 16.5 million tonnes of zinc ore reserves and the Angouran mine with 9 million tonnes of remaining zinc ore reserves. Lead and zinc production are in the hands of Iran Zinc Mines Development Group, Bama Mining & Industrial, Bafgh Mines and Calcimin.
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Fukushima engineers continue probing reactors www3.nhk.or.jp

 
Engineers at the Fukushima Daiichi nuclear plant are continuing their efforts to check the state of molten fuel inside the damaged reactors.
 
They sent robots into the containment vessels of the No. 1 and No. 2 reactors, hoping to get a glimpse of the melted fuel.
 
But obstacles prevented a camera from reaching the bottom of the No. 1 reactor's containment vessel, and a robot got stuck while checking the No. 2 reactor.
 
The government and the plant's operator expect to decide how to remove the fuel debris, as the mixture of molten fuel and reactor parts is known, this year. It's seen as the biggest challenge in decommissioning.
 
Professor Hajime Asama of the University of Tokyo Graduate School is a technical advisor on decommissioning the reactors.
 
He says the latest probe didn't provide enough information to make a decision. He is calling for other techniques to be tried, noting that a camera attached to a pipe was able to capture images from beneath the reactor core.
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Qatar increases UK investment despite Brexit www.rt.com

 
The Qatar government is to invest £5 billion ($6.3 billion) in the UK over the next five years, deepening trade ties with Britain as it prepares to leave the European Union.
 
“Qatar will invest £5 billion in the UK over the next three-five years,” Finance Minister Ali Sherif al-Emadi said during a visit to London for a Qatar-UK business forum on Monday.
 
The announcement comes two days before Prime Minister Theresa May plans to start the formal EU exit proceedings by invoking Article 50 of the Lisbon Treaty.
 
“Qatar has great confidence in the UK, and this confidence will be demonstrated in the additional investments we will make over the next decade,” said Qatari Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani, who heads the delegation of over 400 officials and business executives.
 
Earlier, the head of the country's sovereign wealth fund said he still saw opportunities to invest in Britain after it quits the bloc.
 
The emirate has a significant stake in keeping the British economy and asset prices strong during and after Brexit. Qatar accounts for 90 percent of Britain’s imports of liquefied natural gas.
 
Qatari investors put billions into Barclays bank during the 2008 financial crisis and have created a stock and property portfolio worth over $50.27 billion (40 billion pounds) over the last decade.
 
“Qatar doesn’t see Britain leaving the EU as impacting their relationship, and it may be an opportunity for it to be stronger,” said Rachel Pether, an adviser at the Sovereign Wealth Fund Institute.
 
Britain, in turn, plans to double the amount of export finance available to support trade with Qatar to £4.5 billion ($5,67 billion), according to UK Trade Minister Liam Fox.
 
“No trade between the UK and Qatar should fail for lack of finance and insurance, that is why the UK government can give buyers and sponsors in Qatar attractive long-term finance to make sourcing from the UK more competitive,” he told the Qatar-UK business forum.
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