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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Mongolia imports 21 percent of its energy consumption www.montsame.mn

Ulaanbaatar /MONTSAME/ In accordance with the power purchase agreement with Russia, Mongolia imports 1 kW power for MNT 33.548 from Russia, reported the Energy Minister P.Gankhuu during the Parliamentary plenary session.

The total energy consumption of Mongolia was 6.9 billion kW/hour as of 2015, 21 percent of which is imported from China and Russia at a high price.

Electricity tariff is legislated to be 15-18 cents from solar energy and 9.5 cents from wind power in Mongolia. Mongolia has made agreement with countries such as Chile and United Arab Emirates to buy 1 kW/hour solar energy-based electricity for less than 3 cents, which is equal to half the cost of energy production from coal.

Currently, there are three renewable energy sources-based plants operational in the Mongolian energy system, including ‘Salkhit’ wind plant , ‘Dorgon’ and ‘Taishir’ hydropower plants. These plants produce approximately 210 million kW/hour electricity and supply to the energy network and their supply price should be lowered, say corresponding officials.

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JPMorgan gets China corporate bond underwriting license www.reuters.com

JPMorgan Chase & Co < JPM.N> said on Monday it had received approval and license to underwrite corporate bonds in China's interbank bond market, making it the first U.S.-headquartered bank to do so.

The license enables JPMorgan to underwrite debt financing instruments issued by non-financial entities, including commercial papers, medium-term notes and other instruments approved by regulators, it said.

The license was granted by the National Association of Financial Market Institutional Investors (NAFMII), which oversees the Chinese interbank bond market, said a statement issued by JPMorgan.

China is the third largest bond market in the world with 43.7 trillion yuan ($6.37 trillion) outstanding at the end of 2016 with the interbank bond market accounting for over 90 percent, according to China Central Depository & Clearing Co.

In September last year, JPMorgan was granted a business license to operate a fully owned fund management business in China, allowing it to set up an office in Shanghai free-trade zone.

(Reporting by Sumeet Chatterjee; Editing by Vyas Mohan)

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World Bank to implement Second Energy Sector Project www.montsame.mn

Ulaanbaatar /MONTSAME/ According to the Ministry of Energy, World Bank plans to implement project in energy sector of Mongolia with USD 55.4 million. 

The project is aiming to distribute constant reliable electricity service of higher quality in the rural area to meet the increasing demand of electricity. The preparatory work is being made to support sustainable energy by reducing system losses and improving economic efficiency of power supply companies, such as “Baganuur-Southeastern Region Electricity Distribution Network” SOE, “National Power Transimission Grid” SOE and the “Western Energy System” SOE JSCs.

The following actions are planned within the project:

Upgrading and expansion of “Baganuur-Southeastern Region Electricity Distribution Network” SOE.
Upgrading and expansion of “Erdenet-Bulgan Electricity Distribution Network” SOE.
Expansion of “National Power Transmission Grid” SOE’s distribution facilities in Baganuur and Khangai.
Establishment of 10 MW solar photovoltaic power plant for “Western Energy System” SOE.

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Toyota and Suzuki agree to begin formal talks on partnership www.reuters.com

 
Toyota Motor Corp (7203.T) and Suzuki Motor Corp (7269.T) on Monday said they have agreed to begin formal talks aimed at forging a partnership between the two Japanese car makers in shared procurement, green vehicles, IT and safety technologies.
Toyota and Suzuki said in October they were exploring a partnership, citing technological challenges facing automakers and the need to keep up with consolidation in the global auto industry.
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Mazda, Subaru brace for Trump's trade policies www.asia.nikkei.com

 
TOKYO -- With U.S. President Donald Trump demanding that even Japanese automakers put "America first," Mazda Motor and Subaru maker Fuji Heavy Industries are growing concerned over the potential impact of tariffs and other trade protections that could limit access to the world's largest car market.
 
"We don't know what direction things will go," Mazda President and CEO Masamichi Kogai told reporters Sunday when asked about Trump's pledge to renegotiate the North American Free Trade Agreement. "What's important for us is to develop more attractive products and boost sales."
 
Ford Motor CEO Mark Fields, one of the loudest critics of the Japanese auto market, had once served as president and CEO of Mazda as part of the companies' past partnership. "I have no particular comments" regarding Fields, Kogai said.
 
Mazda expects to sell 1.55 million cars worldwide for the fiscal year ending in March, with the U.S. accounting for 15%, or about 230,000 units. But roughly 80% of the vehicles it sells in the country are shipped from Japan and the rest from Mexico. Exchange rates have a huge impact on sales.
 
Trump is calling for a 35% tariff on cars made in Mexico, which would make it a significant burden to build vehicles in the country. For an automaker of Mazda's size, building a new plant in the U.S. will be a challenge. It could face a tough decision depending on what Trump's policies shape up to be.
 
Six Japanese companies -- Toyota Motor, Nissan Motor, Honda Motor, Mitsubishi Motors, Fuji Heavy and Mazda -- currently sell autos in the U.S. market. Toyota had previously promised to invest $10 billion in the country, and made another announcement Jan. 24 on its roughly $600 million investment in a plant in Indiana. President Akio Toyoda has also met with Japanese Prime Minister Shinzo Abe.
 
Fuji Heavy's only overseas factory is located in Indiana. The automaker just doubled annual output capacity there in December to around 400,000 vehicles, hiring an additional 1,500 or so workers and bringing the total to about 5,500. It plans to ramp up capacity to 440,000 units by fiscal 2018.
 
Fuji Heavy has doubled annual sales in the U.S. to about 615,000 units in the five years through 2016, accounting for 60% of global sales. Its exports from Japan were hit hard by the strong yen earlier this fiscal year, but the recent softness in the currency is expected to mitigate the expected drop in profits. The company is hoping to sell up to 670,000 vehicles in the U.S. in 2017. But it is looking to produce just around 60% of the vehicles locally -- less than Toyota and other big automakers. It will be affected significantly by any tariffs or movements in the exchange rate.
 
Japanese autoparts makers face uncertainties as well. The Japan Auto Parts Industries Association says that the number of Mexican production bases operated by its members had doubled in five years to 109 as of March 2016.
 
Yorozu, which supplies suspensions and other parts to Nissan, is expanding two plants in Mexico and plans to have the added production up and running by the end of the year. "We will consider a response if the U.S. takes further steps toward protectionism," said Chairman and CEO Akihiko Shido.
 
Smaller automakers more exposed due to limited US production
 
U-Shin, which makes parts for Mazda and other companies, has moved production from the U.S. to a Mexican plant set up in 2012. "We will consider reassigning some production back to the U.S.," a company representative said.
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Areva deal signals chilled French-Chinese nuclear partnership www.asia.nikkei.com

PARIS -- Troubled French reactor builder Areva has agreed to accept equity stakes from Mitsubishi Heavy Industries and Japan Nuclear Fuel. But missing from the list is a Chinese backer, signaling cooling Sino-Franco relations in the nuclear sector.
Reforms, including the injection of fresh capital, are essential for growth of Areva, CEO Philippe Knoche told a shareholders meeting Friday. Shareholders are expected to approve a capital increase of some 5 billion euros ($5.39 billion).
The French government will provide 4.5 billion euros of that. Mitsubishi Heavy and Japan Nuclear Fuel will pick up the rest in exchange for separate 5% stakes in nuclear fuel reprocessing unit NewCo.
After cost overruns while constructing a reactor in Finland, the French group had posted its fifth straight annual net loss through the year ended December 2015. The cumulative losses for the five years reach well north of $8 billion, prompting the company to seek capital relief.
The group courted China National Nuclear Corp. to invest in NewCo, but talks apparently fell through in late January. According to a person close to the matter, the Chinese side wanted to acquire a larger stake than the Japanese contingent as well as install a director -- terms Areva was not willing to swallow.
Many within Areva and state-owned utility Electricite de France, which is acquiring reactor-building unit Areva NP, have argued that the Chinese market should be a priority. The world's No. 2 economy will account for most new nuclear plants through 2040, meaning growth would be impossible without Chinese orders. But both Washington and Tokyo have raised security concerns, forcing Areva to give up accepting an investment, according to French media.
Now the French are worried about frosty business relations with China. The two sides have been building new plants in the mainland and sharing nuclear fuel reprocessing technology. But now new orders from China may be hard to come by. Fissures may also appear in the Franco-Sino partnership in the U.K. EDF and a Chinese company have purchased stakes in the Hinkley Point C nuclear station in southwestern Britain. In the southeast, EDF is providing support for the Bradwell plant being developed by the Chinese.
China is one of the few partners French companies rely on when it comes to finances. The French have not yet closed the door on an eventual sale of an equity stake in NewCo.
The French nuclear industry is home to between 300,000 to 400,000 workers. Facing high unemployment rates, the government has led the rescue efforts at Areva, highlighting the urgency of overhauling the nuclear sector. Areva is spinning off its nuclear fuel business into NewCo. Areva NP will severe the Finland reactor project and go under the umbrella of EDF. The French government is looking for international investors in Areva NP. Mitsubishi Heavy has shown interest, but the failure at NewCo may cloud discussions with potential Chinese suitors.
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Freedom House rates Mongolia ‘Free’ www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ US based NGO Freedom House revealed ‘Freedom in the World 2017’, an annual report on global political rights and civil liberties, and Mongolia received 85 scores to be rated a Free country.
 
Of the 195 countries assessed, 87 (45 percent) were rated Free, 59 (30 percent) Partly Free, and 49 (25 percent) Not Free.
 
With aggregate score 85, Mongolia ranks after Japan (96) and Taiwan (91) in Asia. However, it is notable that Mongolia’s Freedom of the Press 2016 status is Partly Free.
 
The report finds 2016 to mark the 11th consecutive year of decline in global freedom, wrote Freedom House.
 
 
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Apple to start making iPhones in India, says state government www.bbc.com

 
Apple is to start making iPhones in the southern Indian state of Karnataka, the state's government has said.
Ministers said Apple would start an initial manufacturing operation in the state, whose capital is the tech hub Bangalore, in April.
The tech giant has a 2% share of India's mobile phone market, well behind South Korean rival Samsung.
Apple has yet to officially confirm the plan, saying only that it is keen to "invest significantly" in India.
But Priyank Kharge, minister of information technology and biotechnology in Karnataka, told the AFP news agency: "We have an understanding with Apple and we expect them to start manufacturing in Karnataka by the end of April."
Reports said the plant is being set up by Taiwanese manufacturing company Wistron Corp.
Despite the low percentage of sales, Apple has almost half of the market for premium phones, which start at around $450 an item, and its sales are growing fast.
Apple has held a series of meetings with government representatives at both state and national level and is understood to be pressing for concessions before going ahead with such a move.
Apple's biggest manufacturing partner is Taiwanese giant Foxconn, which runs the biggest iPhone factory in the world in China.
Apple is currently unable to set up its own branded stores in India, which has a raft of rules to curb the activities of foreign companies.
Rising sales
For it to be able to sell direct to customers in India, Apple would have to source 30% of the components of its products locally.
Earlier this week, Apple reported its first rise in sales in nine months after strong Christmas sales of the iPhone 7.
The firm had suffered three quarters in a row of falling revenues as mounting competition, particularly from Chinese rivals, hit sales of the iPhone.
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Rolls-Royce faces civil service inquiry over UK state funding www.theguardian.com

 
Civil servants are carrying out an internal inquiry to establish whether the engineering giant Rolls-Royce fraudulently obtained financial support worth hundreds of millions of pounds from the government.
 
The inquiry was launched after the multinational manufacturer admitted last month it had used multimillion-pound bribes to secure export orders across the world over four decades.
 
Rolls-Royce has apologised and is paying £671m in penalties after the endemic corruption, implicating senior employees, was exposed by anti-corruption investigators in the UK, US and Brazil.
 
The internal review is being conducted by officials at the UK Export Finance (UKEF), the government’s credit agency which gives financial support to British exporters to help them win contracts around the world.
 
Rolls-Royce is one of the biggest customers of UKEF which extends loans to purchasers and their banks, and guarantees to step in and pay outstanding debts if buyers default on export contracts.
 
The inquiry is understood to be scrutinising whether Rolls-Royce complied with UKEF’s anti-bribery rules when it received financial support from the credit agency.
 
UKEF has the power in certain circumstances to force firms to repay money if they have broken the anti-bribery rules. Rolls-Royce said it did not anticipate having to repay money.
 
These rules require firms applying for financial backing to declare that they have not used corrupt payments to win export orders, or channelled payments through agents.
 
Sue Hawley, the policy director of Corruption Watch, said: “This is a key test of how robust UKEF’s anti-corruption procedures are and how willing UKEF is to enforce them.
 
“UKEF must get to the bottom of how much Rolls-Royce lied to them and look seriously at whether Rolls-Royce has defrauded the taxpayer.”
 
She added that Rolls-Royce should be blocked from receiving any support from UKEF for three years after confessing to the bribery.
 
Rolls-Royce struck deals with the Serious Fraud Office and prosecutors in the US and Brazil last month to end long-running investigations.
 
As part of the deals, which included paying the penalties, Rolls-Royce admitted that it had used a variety of corrupt schemes and cover-ups in 12 countries between 1989 and 2013 in what amounted to “egregious criminality”.
 
In four of these countries, Rolls-Royce had won contracts that were given financial support by the UKEF or its predecessor agency.
 
Rolls-Royce has told the Guardian that in three of these cases, it had declared to UKEF at the time it applied for financial support that it had not used corrupt methods to secure the orders.
 
UKEF backed a £330m contract for Rolls-Royce to supply the Russian state-owned company Gazprom with gas compression equipment in 2008. Rolls-Royce paid an £8m bribe to a Gazprom official to win the contract.
 
UKEF had also supported a £54m contract in 2004 to supply engines to Thai Airways which was won through a $7m bribe to middlemen. Bribes were also paid to land a £32m contract in 2005 to supply power generation equipment to Brazil.
 
Rolls-Royce also received financial support from the British government’s credit agency when it paid a $2m bribe to win a contract to supply aircraft engines to Indonesia in 1991. In this case, it was working in conjunction with another firm which had the responsibility of applying for support and making any necessary declarations.
 
Rolls-Royce said: “The behaviour uncovered in the course of the investigations by the Serious Fraud Office and other authorities is completely unacceptable and we have apologised unreservedly for it.
 
“The past practices that were uncovered do not reflect the manner in which Rolls-Royce does business today.
 
“We have taken extensive action to strengthen our ethics and compliance procedures so that high standards of business conduct are embedded as an essential part of the way we do business. We have co-operated fully with the authorities and will continue to do so.”
 
Anti-corruption campaigners have long argued that the government is allowing bribery to flourish by failing to uncover potentially improper payments when it gives financial backing to exporters.
 
Details of the corruption were published in legal documents when the settlements bringing an end to the investigations were announced in January. The documents, which are being examined by UKEF officials, did not identify who had organised the illicit payments, nor who had received them.
 
A UKEF official said:“While UKEF is not a law enforcement agency and has no statutory investigatory powers, we rigorously follow Organisation for Economic Cooperation and Development standards and take all possible precautions to avoid supporting transactions that may be tainted by corruption.”
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Toshiba begins negotiation for sale of chip unit www3.nhk.or.jp

 
Struggling electronics giant Toshiba has launched negotiations over the sale of its flash memory business.
 
Toshiba plans to spin off its profitable chip unit and sell a stake in the new company to help cover the huge losses from its nuclear power business in the United States.
 
Investors, including US investment funds and other chip manufacturers, took part in the first round of bidding on Friday.
 
Informed sources say Toshiba asked the bidders to consider investing in not only the new chip firm but also Toshiba itself for several billions of dollars.
 
The request is viewed as Toshiba's attempt to prevent debt from exceeding assets in its financial statements for the current business year that ends in March.
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