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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Events

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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Apple boss Tim Cook criticises Trump travel ban www.bbc.com

 
Apple chief executive Tim Cook has repeated his opposition to US President Donald Trump's travel ban.
He was speaking after he collected an honorary doctorate at the University of Glasgow.
Earlier Mr Cook visited an Apple store in Glasgow, where staff gave him a tartan scarf and a drawing.
His comments on the presidential decree targeting seven predominantly Muslim countries came in a Q&A session at the university.
Responding to questions from students and staff, Mr Cook said: "I wrote this letter, you probably read about it unless you're living underground, about the most recent executive order that was issued in the US.
"We have employees that secured a work visa, they brought family to the US, but happened to be outside the US when the executive order was issued and all of a sudden their families were affected.
"They couldn't get back in. That's a crisis. You can imagine the stress.
"If we stand and say nothing it's as if we're agreeing, that we become a part of it. It's important to speak out."
Mr Cook has taken a strong stance on user privacy and other issues which have at times brought him into conflict with the US authorities.
Since taking the helm of the company, Mr Cook has led the introduction of new products such as the iPhone 7, iPad Pro and Apple Watch.
He is also leading a company-wide effort to use 100% renewable energy at all Apple facilities.
In 2015, the 56-year-old became an honorary patron of Trinity College Dublin's Philosophical Society and gave a talk to students.
The embroidered picture presented by the Apple store staff shows Mr Cook waving and the words: "Welcome Tim."
It also features saltire flags and the Loch Ness monster.
He said: "That's great. I recall looking for the Loch Ness monster in 1984.
"Everything is right but the colour of the hair."
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Goldman moves London hedge fund to US www.bbc.com

 
A Goldman Sachs hedge fund is closing its London operations and moving staff to New York, the firm has confirmed.
About eight staff members who were part of the Goldman Sachs Investment Partners (GSIP) Team in London have been told to move.
The decision follows the departure of the team's managing director, Nick Advani.
Goldman Sachs said that the move had nothing to do with the UK's exit from the European Union.
'This is a discrete decision for reasons specific to GSIP, one investment team within Goldman Sachs, and shouldn't be construed as anything but that," it said in a statement.
Mr Advani announced last year that he would be stepping down from his role as managing director. He is now an advisory director with Goldman.
GSIP was set up in 2008 with $7bn (£5.6bn) in assets and at the time was one of the biggest-ever hedge fund launches. According to its website it has offices in New York, Hong Kong and Tokyo, as well as London.
It is part of Goldman Sachs Asset Management, an investment manager with $1.15tn in assets under supervision.
The news of GSIP's departure comes amid widespread speculation that many financial jobs based in London might migrate to cities in the rest of Europe, such as Dublin, Paris or Frankfurt, so that the banks concerned could continue to offer their services to EU clients.
HSBC and UBS have warned that they will have to move some London staff abroad when the UK leaves the EU.
Last month, Lloyd Blankfein, chief executive of Goldman Sachs, said the bank had been moving parts of its "global operations" team to London, but was now "slowing that decision".
 
 
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MBD business mission to MBCCI's "The 6th Mongolia London Business Forum” and program London, UK www.mongolianbusinessdatabase.com

Mongolian Business Database MBD (www.mongolianbusinessdatabase.com) is starting to register the business participants to Mongolian-British Chamber of Commerce and Industry's "The 6th Mongolia London Business Forum" in April 05.2017 and business program which includes the opening of London Stock Exchange by Mr.Ts. Munkh Orgil, Foreign Minister of Mongolia, Sixth Mongolia London Business Forum at Bloomberg and the annual UK Parliamentary Tea with the All Party Mongolian Parliamentary Group 
The MBCC (http://mongolianbritishcc.org.uk) is a not-for-profit membership organisation established in 2009 to foster strong business links between Mongolia and the UK. Chaired by Mr John Grogan former British Parliament member, it aims to provide a professional and social environment for business people who wish to be introduced to, and become part of, the British-Mongolian business culture and community.
Please visit to following link for information in details and contact at contact@mongolianbusinessdatabase.com e mail, 77109911, 99066062 for the registration and inquiry.
The registration will close in March 03 Friday. 2017
(P:S. English Premier League’s Chelsea vs Manchester city game will be on April 05 in London during this mission)

http://www.mongolianbusinessdatabase.com/base/eventsdetails?id=19 

 

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Strengthening ruble boosts Russian imports www.rt.com

 
Russian imports surged 36.4 percent year on year in January, as the ruble strengthened significantly, becoming the world’s best-performing currency last year.
In the first month of the year, Russia imported $11.1 billion worth of products from non-CIS countries, by far the biggest amount since the escalation of the economic crisis in the country.
According to Russian customs data, imports of machinery grew by 45 percent to $5.27 billion, chemical products by 35.7 percent to $2.1 billion, and imports of clothing rose 27.8 per cent to $828.1 million.
“The strengthening of the ruble during the year increased the purchasing power of the population and entrepreneurs, who have accumulated a pent-up demand for high-quality imported products,” said Sergey Pukhov from the Russian Higher School of Economics (HSE), as quoted by Finanz.ru.
Year on year, the Russian ruble has gained over 24 percent against the US dollar, the biggest increase among all currencies.
Many Russian exporters, particularly agriculture producers, profit from a weaker ruble, and its strengthening hurts their business. At the same time, the HSE noted that 75 percent of Russian manufacturing depends on imports of machinery and technology, and a weak ruble significantly slashed production and exports. In the manufacture of transportation, electrical equipment, and construction materials there has been a 14-17.5 percent decline, while other industries including furniture saw a 25.7 percent fall.
On Tuesday, the Central Bank of Russia started buying dollars on the Moscow Exchange to replenish the country’s reserve fund, while oil prices are relatively stable at around $55 per barrel. The regulator will have bought about $1.9 billion by March 6.
 
Some analysts have noted this could force the ruble to drop from the current 59 against the dollar to about 63. Others said purchases by the central bank are just a fraction of the daily forex turnover on the Moscow Exchange, and it will not significantly affect the Russian currency.
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Japan's Sharp may break ground on $7 billion U.S. plant in first half: source www.reuters.com

 
Japanese display maker Sharp Corp may start building a $7 billion plant in the United States in the first half of 2017, taking the lead on a project initially outlined by its Taiwanese parent Foxconn, a person with knowledge of the plan said.
A decision by Foxconn to give Sharp the lead would come as Japanese Prime Minister Shinzo Abe prepares to travel to the United States to meet U.S. President Donald Trump, who in his inauguration speech vowed to put "America first".
In a package Tokyo hopes will please Trump, Abe will unveil investments to create as many as 700,000 U.S. jobs, people familiar with the matter told Reuters earlier.
"The investment will be by a Japanese consortium that will also include manufacturing equipment makers," said the person, who was not authorized to speak with media and so declined to be identified.
A spokesman for Sharp said no decision on building a plant had been made. Foxconn, formally Hon Hai Precision Industry Co Ltd, did not immediately respond to a request for comment.
Terry Gou, the chief executive of Foxconn, the world's largest contract electronics maker, last month said he was considering investing around $7 billion to build a display-making plant in the United States, but did not elaborate on any time frame.
Gou said Foxconn, which operates plants in China that make most of Apple Inc's iPhones, had been considering the plan for years. He said the issue came up when business partner Masayoshi Son, head of Japan's SoftBank Group Corp, talked to Gou before a December meeting Son had with Trump.
Foxconn last year took control of Sharp when it bought two-thirds of the Japanese liquid crystal display pioneer.
Trump has raised concerns in Japan by criticizing the scarcity of U.S. cars in its auto market. He has also accused the Tokyo government of using monetary policy to devalue its currency and has also lumped Japan with China and Mexico as big contributors to the U.S. trade deficit.
Abe will visit Trump at his private Mar-a-Lago resort in Florida over the weekend, where the two leaders will play golf, following a meeting on Friday in Washington.
That would follow a meeting Abe had last week with the head of Toyota Motor Corp, as the government compiled a plan to ward off U.S. criticism of Japanese trade policy before the summit. Abe also said Japan may increase energy imports from the United States.
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Saudi Aramco Said to Pick Moelis to Advise on Biggest IPO www.bloomberg.com

 
Saudi Arabian Oil Co. hired Moelis & Co. to advise on its initial public offering, according to a person familiar with the matter, as it pushes ahead with plans to pursue the world’s biggest share sale.
The New York-based boutique investment bank had been shortlisted as a potential adviser for the deal, people familiar with the matter said last month. Aramco, as the company is known, was seeking an adviser to help it select underwriting banks for the sale, make decisions on potential listing venues and ensure the IPO goes smoothly, the people said at the time.
A representative for Moelis declined to comment. Aramco’s press office in Dhahran, Saudi Arabia, didn’t immediately respond to an e-mail seeking comment outside business hours. The Financial Times previously reported that Moelis won an advisory role on Saudi Aramco’s IPO.
Saudi Arabia is aiming to sell less than 5 percent of the company as part of a plan by Deputy Crown Prince Mohammed bin Salman to set up the world’s biggest sovereign wealth fund and reduce the economy’s reliance on hydrocarbons. The sale’s estimated size of $100 billion would make it the largest ever, dwarfing the $25 billion raised by Chinese internet retailer Alibaba Group Holding Ltd. in 2014.
JPMorgan Chase & Co. and Michael Klein, the former Citigroup Inc. investment banker who runs his own advisory firm, have already been selected to advise on the IPO, people familiar with the matter said in April. Klein is providing strategic advice to the government, while JPMorgan is working on preparations for the IPO and may be among the banks that underwrite the listing, the people said.
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Policy Research Center introduce studies on foreign policy www.montsame.mn

Ulaanbaatar /MONTSAME/ On February 8, research teams of the Center for Policy Research presented the results of first two of their studies at the School of International and Relations and Public Administration (SIRPA) of the National University of Mongolia.

The studies considered the decision-making mechanism of Mongolia’s foreign policy and the coordination between Mongolia’s geo-economic interests and the implementation of the Programme on Establishing Mongolia-China-Russia Economic Corridor. 
The Center was established last year under the SIRPA, with a general objective to help make the policies more research-based, far-sighted and effective through presenting policy studies and recommendations.

At today’s meeting, M.Batchimeg MP, Director of the Diplomatic Academy of Mongolia Kh.Bekhbat, members of the research teams, SIRPA professors and officials from the Ministries of Foreign Affairs and Finance and the National Development Department.

The study on “Improving the Decision making Mechanism of Foreign Policy of Mongolia” was led by the State Honored Lawyer J.Enkhsaikhan, former Permanent Representative of Mongolia to the United Nations. The research team has been working with the lawmakers since 2014 and has successfully submitted a recommendation, which the lawmakers accepted and proceeded with, to prepare and present a draft law on Foreign Relations.

“The bill was included in the list of agendas to be discussed by the Parliament’s Autumn Session. However, the parliament postponed the reading of the foreign relations bill until the next session. I believe the bill will be discussed thoroughly and passed at the spring session”, M.Batchimeg MP told MONTSAME. According to her, the law, if adopted, will fill the gap of regulations on accountability system for foreign policy administrators.

Afterwards, the research team leader Ambassador J.Gulguu gave a presentation on the findings of study on economic corridor. Establishing the Mongolia-China-Russia economic corridor will help Mongolia to become an active participant in the regional economic integration, as the corridor will also serve the interests of China to build the shortest cut to Russia and Europe and Russia’s interest to activate the Trans-Siberian railroad usage.

The Program on Establishing Mongolia-China-Russia Economic Corridor reflects 32 major projects, the complete studies on which will be conducted throughout 2016-2020.

 
 
 
 
 
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Indian IT sector alarm over US work visa threat www.ft.com

 
Indian executives are warning that a move by the US to limit visas for skilled workers would strike at the heart of the countries’ trade relations, sharply increasing costs for India’s $146bn IT services industry in a crucial market.
The industry is planning to send a delegation to the US this month to argue against the changes, which have prompted widespread alarm in India.
“Despite the importance that has been attributed to the Indian relationship, despite the warm words from Trump, there may be measures that are taken that are seriously damaging,” said R Chandrasekhar, president of India’s National Association of Software and Services Companies.
“If the US was to curb the number of people that are taken in on H-1B visas in the area, two things can happen: either those jobs remain unfilled in the US or the job goes out of the US.”
Last month legislation was introduced to the House of Representatives that would require companies to pay H-1B immigrants at least $130,000 — more than double their previous minimum salary — unless they can prove that they were unable to find a US worker to do the same job. This effective wage floor currently stands at $60,000 and would be increased in order “to protect American workers”.
Sean Spicer, President Donald Trump’s press secretary, has said the White House will also consider reforming H-1B visas through an executive order, such as the one used to ban travellers from seven majority-Muslim countries.
The move has prompted a public outcry in India — two-thirds of the H-1B visas issued by the US in the 2015 fiscal year were granted to Indians, according to US state department figures. The concern is that an increase would make it too costly for Indian contractors to recruit Indian workers for jobs in the US — and would sharply constrain an industry that has become an engine of skilled job growth in the country.
The IT sector in India is still heavily reliant on its traditional, labour-intensive sources of revenue despite efforts to shift to more cutting-edge areas such as data analytics. Although they can provide some services remotely, the companies rely on sending their best employees to work directly with clients in the US.
The industry last year generated 60 per cent — or $64.8bn — of its revenues in the US, where it employed 155,000 people in 2015, according to Nasscom. After Mr Trump was elected in November, the association cut its growth outlook for the industry this financial year from 10-12 per cent to 8-10 per cent, citing “domestic and global factors impacting its performance”.
Vineet Nayar, former chief executive of HCL Technologies, the fourth-largest Indian IT services company by revenue, said US companies would also be hit: “Facebook, Microsoft — everybody applies for H-1B.”
US-based companies such as IBM, Cognizant and Accenture are among the largest applicants for H-1B visas, according to My Visa Jobs, an immigration consultancy which compiles data on applications.
India’s ministry of external affairs was forced to complain to the Trump administration after news about the new bill caused a slump in IT stocks last month. Sector leader Tata Consultancy Services lost more than 7 per cent of its market value. “India’s interests and concerns have been conveyed both to the US administration and the US Congress at senior levels,” the ministry said.
Companies have begun to take pre-emptive steps, according to placement advisers on college campuses. “[Trump] will impact the employment opportunity for Indian students,” said Kanwal Kapil, chairperson of placements at the Management Development Institute in Gurgaon, which has seen IT hiring fall by 26 per cent compared with last year.
“We cannot rule out the fact that the scepticism has some [relation] to Mr Trump’s future policies,” said Saveeta Mohanty, placements adviser at the Xavier Institute of Management and Entrepreneurship, which expects a 40 per cent fall in IT hiring this season.
Welingkar Institute of Management Development & Research said hiring had fallen 30-40 per cent. All three institutions claimed there was less take-up from TCS and Infosys, which filed the most applications for H-1B visas last year, according to My Visa Jobs. The average salaries for applicants were significantly below the new proposed $130,000 mark — at $79,201 for Infosys and $69,648 for TCS.
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Mongolia takes part in Erasmus+ project www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The European Region Action Scheme for the Mobility of University Students (ERASMUS) announced a project themed ‘Promoting internationalization of research through establishment of Cycle 3 Quality Assurance System in line with the European Agenda’ last year, and 4 Mongolian institutions were chosen as participants, reports the Ministry of Education, Culture, Science and Sports.
The Mongolian participants of the project are the Ministry of Education, Culture, Science and Sports, Mongolian National Council for Education Accreditation, National University of Mongolia and Otgontenger University.
On February 3, a meeting was held among the project participants in Yerevan, capital city of Armenia, gathering representatives of the Education Ministries, accreditation institutions and universities of Mongolia, France, Spain, Poland, Kazakhstan, Armenia and Ukraine. During the meeting, the participants discussed future activities and expected outcome of the project.
The project aims for quality assurance system development, third cycle implementation and higher education internationalization in its participant countries by establishing Internal Quality Assurance (IQA) mechanisms and tools within higher education institutions assuring quality of Cycle 3 programs (leading to a PhD degree), and an External Quality Assurance (EQA) system to validate and promote quality of Cycle 3 programs.
The project will be implemented for three years, and the National University of Mongolia and Otgontenger University will upgrade their PhD programs.
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Billion-dollar Alberta coal company goes bankrupt www.mining.com

 
A coal company in west-central Alberta that in 2011 sold for $1-billion is bankrupt, killing hopes that its mine might re-open in the first quarter.
 
The Calgary Herald reported that Grande Cache Coal sent a letter to the town bearing the same name, warning that the company is heading into receivership, thus allowing it to restructure. The letter also said the metallurgical coal mine would re-open in July. According to the newspaper, Grande Cache Coal was forced into bankruptcy last week after the mining company's owner, Chinese coal producer Up Energy Development Group Ltd., defaulted on debt payments in 2016, having owed hundreds of millions of dollars.
 
About 220 employees lost their jobs in 2015 when the mine shut down, a victim of low met-coal prices. But it looked like the mine was going to enjoy a phoenix-like rise, when in November 2016 Grande Cache Coal and Up Energy said that surface-mine operations were expected to restart in Q1 2017. The restart – no doubt prompted by rocketing coal prices – would however depend on "shareholders' approval and the negotiation of key contracts," Grande Cache Coal said at the time. Steelmaking coal prices reached a multi-year high of $308.80 per tonne in November, but have since been in freefall. They settled at $167.80 on Friday, which is still better than 2016, when coking coal averaged $143 a tonne.
 
The bankruptcy is devastating for the small town town of 4,000 northwest of Edmonton, where Grande Cache Coal is the main employer; a year before it closed, the mine had a payroll of 500.
 
It's an unfortunate end to what looked like a bright future for Grande Cache Coal, which in 2011 was purchased for a whopping $1-billion by two Asian companies: Winsway, a Hong Kong-listed public company which imports coking coal for the Chinese steel industry, and Marubeni, a large Japanese trading house.The company was later purchased by Up Energy. At the time, met-coal prices had not yet been crushed by oversupply, waning demand and increasing regulatory burdens which threw the market into disarray. Most of the coal mined by Grande Cache was exported to Asia, where it was used for making steel.
 
According to the Herald a court-appointed receiver will put its Alberta mining assets up for sale, which include leases covering over 29,000 hectares, with an estimated 346 million tonnes of coal resources in the Smoky River Coalfield of west-central Alberta.
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