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    

Category

Events

Events

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

NEWS

64x64

Venezuela running out of cash www.rt.com

 
The Central Bank of Venezuela says the country is down to just $10.5 billion in foreign reserves. At the same time, Caracas has to meet debt obligations of $7.2 billion this year.
 
The country had nearly $30 billion in reserve five years ago. In 2015, it was down to $20 billion. According to economists, the trend can't go on much longer, but it’s not easy to predict how long it would take Venezuela to reach the bottom.
 
"The question is: Where is the floor? If oil prices stagnate and foreign reserves reach zero, then the clock is going to start on a default," says Siobhan Morden, head of Latin America fixed-income strategy at Nomura Holdings, as quoted by CNN Money.
 
Nearly $7.7 billion of the country’s remaining reserves is in gold, according to the latest financial report for 2016. Venezuela had to ship gold to Switzerland to foot debt bills last year.
 
Dwindling reserves are only exacerbating the humanitarian crisis in the country. The economic blow has led to food and medical shortages, as well as skyrocketing prices.
 
Inflation is expected to rise to 1,660 percent this year and 2,880 percent in 2018, according to the IMF. Among the key factors boosting inflation experts see the crashing bolivar, huge government spending, poor management of the country's infrastructure, as well as high level of corruption.
 
However, oil prices averaging $55 remain the major problem for the country’s economy. As the largest holder of reported oil reserves in the world, Venezuela produced over 2.4 million barrels of crude and condensates per day at the end of the last year, according to ministry data. Oil shipments make up more than 90 percent of the country's exports.
 
All in all that makes it more and more difficult for Caracas to pay debts and import food, medicine and other essentials for its citizens. The country's imports dropped 50 percent from a year ago, according to Venezuelan research firm Ecoanalitica.
...


64x64

Russia may begin new gas supplies to China in 2018 www.rt.com

 
Deliveries of Russian natural gas to China via the so-called eastern route or the Power of Siberia pipeline could start next year, according to Gazprom’s Deputy Chairman Alexander Medvedev.
 
"We expect that the date of supplies [launch] will be agreed with the Chinese side next year," Medvedev told TASS.
 
He added that they could agree to start deliveries if the pipeline system is ready for imports and exports.
 
Medvedev also said Gazprom is confident China will want gas supplied via the western route and is continuing negotiations with Beijing.
 
According to him, there is no doubt China will have a growing demand for gas, particularly due to the environmental factor in the coal-dependent country.
 
The Power of Siberia pipeline is one of the biggest Russia-China projects. The deal took more than a decade to negotiate.
 
In May 2014, Gazprom and China National Petroleum Corporation (CNPC) signed a $400 billion 30-year framework to deliver 38 billion cubic meters of Russian gas to China annually.
 
CNPC Vice President Xu Wenrong said in October the eastern route will become operational by 2020. Russia's ambassador to China, Andrey Denisov added the pipeline construction was on schedule.
 
According to Gazprom, 115 kilometers (71 miles) of the pipeline's 3,000 kilometers across Russian territory were constructed in 2015.
 
Russia will be one of the main providers of the natural gas increasingly needed by China. The two countries plan to build another pipeline - Power of Siberia-2 or the western route that will deliver another 30 billion cubic meters of Russian natural gas.
 
Beijing may increase imports of gas to 190-270 billion cubic meters per year as it aims to shift from coal to eco-friendly energy, said CNPC International Department head Li Yueqiang.
 
According to him, in 2015 China used 200 billion cubic meters of gas, of which a quarter was imported.
...


64x64

Mongolia caps size of new 7-year US dollar bond issue at $600m www.nasdaq.com

By Daniel StantonSINGAPORE, March 2 (IFR) - The Government of Mongolia [MGMG.UL], rated Caa1/B-/B-, has capped the size of new US dollar seven-year bonds at $600 million and given guidance for a new money component alongside an exchange offer. Holders of $476 million of Development Bank of Mongolia's [DEVBM.UL] state-guaranteed March 2017 bonds <XS075556730=TE> agreed to exchange them for new sovereign bonds. These will be exchanged at par for new bonds yielding 8.75 percent, the minimum yield that was indicated for the offer. Since the old DBM bonds were issued under Regulation S and were not sold in the US, while the sovereign bonds are being sold under 144A/Reg S, it has been decided to allow new investors to buy into the offering. Guidance for the new money tranche has been indicated at 8.25 percent area, meaning that those investors will pay a premium to face value. The combined size of both tranches is capped at $600 million, since $580 million is needed to redeem the DBM bonds on March 21. Credit Suisse and JP Morgan are managing the transaction, which will price today. Mongolia reached a funding agreement with the International Monetary Fund on February 19, without which it had been expected to struggle to repay the DBM bonds. (Reporting by Daniel Stanton; editing by Vincent Baby) ((daniel.stanton@thomsonreuters.com; +65 64174548; Reuters Messaging: daniel.stanton.thomsonreuters.com@reuters.net))

Read more: http://www.nasdaq.com/…/mongolia-caps-size-of-new-7year-us-…

...


64x64

BBC Cardiff Singer of the World: Two Mongolians reach finals www.bbc.com

BBC Cardiff Singer of the World has announced the names of the 20 singers who will compete in the televised finals in June 2017. Among them are two Mongolians, namely, the baritone G.Ariunbaatar, who is a Soloist of the Mariinsky Theatre of Russia and Honoured State Artist of Mongolia along with tenor B.Batjargal who is a soloist of the Academic Theatre of Opera and Ballet of Mongolia.

The televised finals are split into four rounds, in which finalists will perform programmes of operatic and concert works, accompanied by the BBC National Orchestra of Wales and the Orchestra of Welsh National Opera.

BBC Cardiff Singer of the World was established in 1983 by BBC Wales, and has since become one of the most popular classical music competitions in the world. The winner of the main prize will receive £15,000 and the Cardiff Trophy, while the World Song Prize, awarded to the best singer of Lieder and other songs, carries a £7,000 prize and trophy.

...


64x64

UN Security Council Sanctions lists available through FRC website www.montsame.mn

Ulaanbaatar /MONTSAME/ The Financial Regulatory Commission of Mongolia has put on its official website a link to the Consolidated Sanctions List, which includes all individuals and entities subject to sanctions measures imposed by the UN Security Council. Member States are obliged to inform the list and implement the measures specific to each listed name as specified on websites of the related sanctions committee of the Security Council.

Interested bodies can visit “Fighting against money laundering and terrorism’ section of www.frc.mn website to get the list. The commission also warns commercial banks, non-banking financial institutions, insurers, professional institutions, who participate in stock markets, insurance and investment actions, to inform suspicious transactions within 24 hours to the Financial Information Unit of the Bank of Mongolia.

...


64x64

American Express escalates high-fee card competition www.reuters.com

 
American Express Co (AXP.N) will begin to offer this month $200 a year in Uber rides, plus other new perks, on its Platinum charge cards as it fights to protect its high-end market from JPMorgan Chase & Co (JPM.N) and Citigroup Inc. (C.N)
 
The new Platinum benefits will include richer credits for spending, access to more airport lounges, special dining and entertainment options and free use by family members of an American Express Gold card, according to Janey Whiteside, general manager of Global Charge Products, Benefits & Services for American Express.
 
The changes, which will start on March 30, will also raise the annual account fee for card holders to $550 from $450.
 
Both JPMorgan and Citigroup, which has a $450-per-year Prestige card with its own mix of spending credits and perks, are using cards to try to eat away at American Express profit margins, which have long been higher than their own. The banks have also acted because banking regulations imposed after the financial crisis generally favor investing in card businesses over capital markets.
 
In August, JPMorgan stirred up the high-end card market when it introduced its $450-per-year Chase Sapphire Reserve card with an initial sign-up bonus worth as much as $1,500, plus $300 in annual travel credits and high credits for spending. The bank started making the cards out of metal to give them a luxurious feel.
 
American Express will now start using metal for its Platinum cards. Since 1999 it has been using metal for its Centurion card which carries an annual fee of $2,500 on top of an initiation fee of $7,500.
 
The new Platinum benefits include up to $200 of payments for Uber rides within the United States. The card already offers $200 in annual credits for airline fees.
 
The increased competition has been a boon to websites such as NerdWallet.com and ThePointsGuy.com, which compare card costs and benefits from a consumer viewpoint.
 
American Express began working on the changes in the Platinum card before JPMorgan brought out its Sapphire Reserve card, Whiteside said in an interview on Wednesday.
 
"This is a response to listening to our customers," she said. "We are always looking at ways to bring value to our card members."
 
American Express kicked off the premium card market in 1966 when it introduced its Gold card, Whiteside said. It brought out the Platinum card in 1984.
...


64x64

Exclusive: Trump administration has found only $20 million in existing funds for wall - document www.reuters.com

 
President Donald Trump’s promise to use existing funds to begin immediate construction of a wall on the U.S.-Mexico border has hit a financial roadblock, according to a document seen by Reuters.
 
The rapid start of construction, promised throughout Trump's campaign and in an executive order issued in January on border security, was to be financed, according to the White House, with "existing funds and resources" of the Department of Homeland Security.
 
But so far, the DHS has identified only $20 million that can be re-directed to the multi-billion-dollar project, according to a document prepared by the agency and distributed to congressional budget staff last week.
 
The document said the funds would be enough to cover a handful of contracts for wall prototypes, but not enough to begin construction of an actual barrier. This means that for the wall to move forward, the White House will need to convince Congress to appropriate funds.
 
An internal report, previously reported by Reuters, estimated that fully walling off or fencing the entire southern border would cost $21.6 billion - $9.3 million per mile of fence and $17.8 million per mile of wall.
 
Trump has said he will ask Congress to pay for what existing funds cannot cover and that Mexico will be pressured to pay back U.S. taxpayers at a later date.
 
Republican House Speaker Paul Ryan has said he will include funding for a border wall in the budget for next fiscal year. He has estimated the cost to be between $12 billion and $15 billion.
 
Many Republican lawmakers have said they would vote against a plan that does not offset the cost of the wall with spending cuts.
 
In the document it submitted to Congress, the DHS said it would reallocate $5 million from a fence project in Naco, Arizona, that came in under budget and $15 million from a project to install cameras on top of trucks at the border.
 
The surveillance project was awarded to Virginia-based Tactical Micro, but was held up due to protests from other contractors, according to the DHS document. Tactical Micro could not be reached for comment.
 
The DHS only searched for extra funds within its $376 million budget for border security fencing, infrastructure and technology, so it would not have to ask for congressional approval to repurpose funding, according to the document.
 
Contractors cannot begin bidding to develop prototypes until March 6 but more than 265 businesses already have listed themselves as "interested parties" on a government web site.
 
Those interested range from small businesses to large government contractors such as Raytheon (RTN.N).
...


64x64

All change: how the Royal Mint is making the new 12-sided £1 coins www.theguardian.com

 
It’s known as the Long Store and at first sight this draughty building – with endless rows of plain cardboard boxes stacked neatly on shelving from floor to ceiling – could be any distribution warehouse in the UK.
 
Only discreet red stickers reveal the valuable contents of the boxes, which every day will be driven by fleets of armoured high-security vehicles from the barbed wire-ringed site. Each is loaded with 85,000 gleaming new 12-sided pound coins which go into circulation in the UK on 28 March and are systematically being transferred to a network of top secret “cash centres” across to the UK to await final delivery to banks and other issuers.
 
Here at the Royal Mint, near Llantrisant to the west of Cardiff, production has been ramped up to full capacity. Ten German-made vertical presses are working 24/7 to churn out the new coins which will replace the old, familiar round pounds.
 
At high pressure, they are striking the two surfaces of the metal “blanks”, producing 40 new coins every second – and 140,000 an hour. Quality control by humans and laser sensors aims to weed out any flaws, and the vast majority that make the grade are counted by machine and emptied into the polythene-lined boxes. Security is strict and metal detectors and scanners are in use for both staff and visitors.
 
Production of the 12-sided coins – a whopping 1.5bn of them – started in March last year and the Royal Mint is now halfway through the process, according to Scott Kuperns, its technical manager and counterfeit specialist.
 
The switch to the new coin has been prompted because the old round one has grown increasingly vulnerable to counterfeiters. The Royal Mint reckons one in 30 £1 coins is fake.
 
“Counterfeiters are becoming increasingly sophisticated” he says, against the noisy backdrop of one of the Mint’s coin press rooms – one room makes coins for circulation while the other turns out commemorative coins and medals.
 
“It can just be a man working in a shed or it can be more organised crime. Teams of experts who have analysed minting technology and material development. But after a lot of research and trials we have come up with what we believe is the most secure coin in the world.”
 
The cutting-edge coin, therefore, has a deliberately complex shape which makes it harder to manufacture and counterfeit. It has an image like a hologram that changes from a “£” symbol to the number “1” when viewed from different angles, while there is very small lettering on the lower inside rim on both sides, and what is mysteriously described as a patented “hidden high security feature”. In a further ruse to try to beat the counterfeiters, it has “milled” edges, with grooves on alternate sides.
 
Its bimetallic construction is similar to the existing £2 coin. The outer ring is gold-coloured nickel-brass and the inner ring is silver-coloured nickel-plated alloy. The reverse of the new coin shows the English rose, Welsh leek, Scottish thistle and Northern Irish shamrock emerging from one stem within a royal coronet – a design created by 15-year-old schoolboy David Pearce, who won a competition to create the image.
 
Behind the scenes, work is also under way for other new coins – a new Sir Isaac Newton 50p, a first world war aviation £2 and a Jane Austen £2, all entering circulation this year. The Royal Mint is also a major export manufacturer, making coins for around 60 other countries including Sri Lanka, Poland and the Czech Republic.
 
Despite the rise of card and contactless payments, coins remain popular and mintage figures are stable. There are currently nearly 29bn coins (of all denominations) in circulation in the UK, with a face value of more than £4bn.
 
Metal for all the coins is smelted on the site, and those going out of circulation are melted down and reused, a fate lined up for the old £1 coins which will cease to be legal tender on 15 October.
 
The Treasury has been urging savers to crack open their piggy banks, check behind the sofa and rifle through pockets for rogue £1 coins, before they become worthless.
...


64x64

South India boycotts Pepsi & Coca-Cola to help local farmers www.rt.com

 
Sales of Coca-Cola and Pepsi have been banned in the southern Indian state of Tamil Nadu. Two of the biggest trade associations in the region called for the boycott in favor of Indian products starting March 1.
 
The American soft drinks giants have been accused of taking too much water from rivers with local farmers left battling for proper irrigation of the land at the time of a severe drought.
 
The associations also called on supermarkets, restaurants, and hotels, urging them to join the boycott and help local businesses and farmers prosper.
 
The boycott followed a wave of protests against the Supreme Court’s ban of a local bull-taming festival called jallikattu last month.
 
"Most traders stopped selling Pepsi and Coca-Cola products soon after the jallikattu protests. Now, more will join in," said Tha Vellaiyan, head of the Tamil Nadu Traders Federation.
 
He added that the campaign against soft drinks had gained momentum after extending support to the pro-jallikattu movement.
 
"Drinks like Pepsi and Coca-Cola are not good for your health because of their high sugar and chemical content. We are promoting Indian soft drinks, and will encourage better sales of fruit juices," Vellaiyan said.
 
At the same time, the organizers clarified that it’s not a ban, saying that they just asked the traders not to sell the goods produced by the corporations.
 
The Indian Beverage Association (IBA) said it was disappointed with the ban, saying it "was against the proven fundamentals of robust economic growth."
 
"Coca-Cola and PepsiCo India together provide direct employment to 2,000 families in Tamil Nadu and more than 5,000 families indirectly. IBA hopes that good sense will prevail and that consumers will continue to have the right to exercise their choice in Tamil Nadu," it said as quoted by BBC.
...


64x64

Foreign Minister addresses UN Human Rights Council session www.montsame.mn

Ministry of Foreign Affairs of Mongolia Ts.Munkh-Orgil delivered remarks at the high-level segment of the 5th meeting of the 34th session of the Human Rights Council. The session is taking place in Geneva, Switzerland from February 27 to March 24.

In his remarks, the Foreign Minister gave a thorough introduction of the policy, actions and measures carried-out by the Government of Mongolia towards the protection and promotion of human rights on a national level and in international fora. Watch full remarks by Minister Ts.Munkh-Orgil here.

During his participation in the Human Rights Council, Minister Ts.Munkh-Orgil met with international high level representatives, such as Director-General of the United Nations Office at Geneva Michael Møller, High Commissioner of the Office of the United Nations High Commissioner for Human Rights Zeid bin Ra'ad, Deputy Secretary-General of United Nations Conference on Trade and Development (UNCTAD) Joachim Reiter, Foreign Minister of Kazakhstan Kairat Abdrakhmanov, Foreign Minister of Albania Ditmir Bushati and Minister for International Development and the Pacific of Australia Concetta Fierravanti-Wells to discuss bilateral ties and international issues of mutual concern.

Also, Ministry of Foreign Affairs Ts.Munkh-Orgil and Minister of Foreign Affairs of Albania Ditmir Bushati signed an agreement for between the Government of Mongolia and the Council of Ministers of Albania on mutual visa exemption for diplomatic and official passport holders.

Established in 2006, the Human Rights Council, is an intergovernmental body within the United Nations system made up of 47 States responsible for the promotion and protection of all human rights around the globe. In October 2015, Mongolia was elected as a Human Rights Council member and will be serving as a member until 2018 to contribute in the activities of the international community on human rights protection and promotion and to be involved in the decision-making process of the council.

...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook