1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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

Oyu Tolgoi suspends concentrate shipments due to border crossing matters www.mongolia.gogo.mn

 
Turquoise Hill Resources announced effective December 1, 2016 Oyu Tolgoi has suspended concentrate shipments to the Chinese border following a new requirement at the Chinese-Mongolian border to utilize one joint coal and concentrate crossing route. The new requirement has led to safety and security concerns as well as unreasonably long waiting times to cross the border.
Oyu Tolgoi is seeking to clarify the requirements with the relevant authorities in Mongolia and China.
On 22 November, the authorities in charge of Gants Mod crossing in Inner Mongolia, China have imposed new fees on commodity shipments between the two countries..
Under the newly-imposed fees, a transit fee of 10 yuan ($1.45) will be charged on vehicles each time they pass through the border, and an additional charge of 8 yuan per tonne will be imposed on any goods that they are delivering.
For precious metals and copper concentrate worth more than 10,000 yuan per tonne, exporters will be charged 0.2 percent of the total value of the cargo, the notice said, adding that the new charges would come into effect on 1 December. Although this is only one border crossing, as it is a major crossing these fees could cost the coal industry up to as much as 12.2 million USD [per annum].
At present, it is not clear the potential duration of the shipment suspension. The Company will update the market in due course as material information is ascertained.
...


64x64

Copper price: Warnings over US trade with China, Mexico www.mining.com

 
Credit ratings agency Moody's warned at the beginning of the year that the downturn in raw materials was like no other and that the global mining sector was undergoing structural change.
 
As a result, Moody's embarked on a sector-wide review of the 87 global mining majors that it covers and in the process dropped big names like Freeport-McMoRan, Anglo American and Vale into junk territory and axed ratings for heavyweights like Rio Tinto, BHP Billiton and Chile's state-owned Codelco.
 
In August Moody's issued a new report on the global base metal sector, changing its outlook from negative to stable as the rally in many metals showed some resilience and rewarding companies like Rio Tinto, Teck Resources and Anglo with better outlooks following successful debt reduction strategies.
 
However, Moody's believes the latest leg up for base metals (bellwether copper is up more than 25% over the last eight weeks) is not sustainable. Carol Cowan, Moody’s Senior Vice President says most metals markets remain in surplus and "supply-demand fundamentals have not improved meaningfully":
 
As a result, we expect base-metal prices to be under pressure in 2017, though we do not expect prices to retreat to the lows seen in late 2015 and early 2016.”
 
Hedge funds make $5 billion bet on rising copper priceAll base metals, with the exception of zinc, remains oversupplied and global inventories have also remained stubbornly elevated (again zinc is the exception) according to the report.
 
While increased infrastructure spending should benefit the sector, particularly inside the US, the impact of the presidential election for the base-metal industry remains unclear says Cowan:
 
Potential reduced trade with Mexico could have an adverse impact. This would likely decrease demand levels from key end markets for steel and bases metals producers including the aerospace, construction and automotive industries.
 
Further, any trade friction between the US and China could also have a negative impact, as China accounts for approximately 50% of the demand for most base metals.
Moody's recently adjusted upwards expectations for Chinese GDP to 6.6% and 6.3% in 2016 and 2017 respectively, but warns global growth remains tepid:
 
China continues to shift towards a consumer-driven economy from one anchored by manufacturing. As such, we do not see a near term catalyst for a material increase in demand, barring significant stimulus by China.
...


64x64

Panasonic looks to buy headlight maker ZKW for up to $885mn www.asia.nikkei.com

OSAKA -- Panasonic plans to purchase European automotive lighting company ZKW in a move designed to increase the Japanese manufacturer's presence in automotive electronics, an industry undergoing rapid change amid progress in self-driving and electric vehicles.

The two companies are in the final stages of negotiations, and a basic deal could be hammered out by mid-December. The acquisition is expected to cost up to around 100 billion yen($885 million).

ZKW's main products are energy-efficient light-emitting diode headlights capable of illumination at great distances. The company, founded in 1938, has a global workforce of about 7,500 with research and production sites in areas including Europe, the U.S., China and India. It supplies leading Western automakers such as General Motors, with sales for 2016 seen at roughly 900 million euros ($960 million).

Japan's Koito Manufacturing and France's Valeo Group together hold nearly 50% of the global headlight market, with ZKW taking about 5%. Headlight technology is changing amid the development of self-driving vehicles, allowing adjustments of the beams' brightness and direction to enhance safety. Panasonic has a wealth of know-how in sensors that it could combine with ZKW's strength in lighting to develop new technology for image recognition, letting the electronics manufacturer take on the industry's two giants.

Panasonic's automotive division deals mainly in car navigation systems and vehicle batteries. The company is proceeding with plans to invest around 500 billion yen ($4.41 billion) to mass-produce batteries for Tesla Motors. By purchasing companies covering a broad array of key products, Panasonic seeks to raise automotive-related sales to 2 trillion yen in fiscal 2018.

Panasonic last year took a 49% stake in Spain's Ficosa International, a company that makes items such as automotive mirrors. The partners have begun jointly developing electronic mirrors for vehicles.

The automotive industry is changing as products from different industries are being adopted into the traditional mix. Information technology and electronics companies are becoming the lead players in this upheaval. South Korea's Samsung Electronics agreed last month to buy Harman International in the U.S. for $8 billion. Germany's Siemens has formed a joint venture with Valeo that develops powertrains for electric vehicles. Google, meanwhile, is buying robotics companies in its effort to develop self-driving cars.

(Nikkei)

...


64x64

Apple reveals self-driving car plan www3.nhk.or.jp

 
US tech giant Apple has disclosed it is working on automated vehicles. The announcement is ratcheting up the already fierce competition among automakers and other IT players like Google over the next-generation technology.
 
Apple has sent a letter to the US National Highway Traffic Safety Administration. It says the company is excited about automated systems in many areas, including transportation.
 
Apple says self-driving vehicles have the potential to prevent many deaths from car crashes. The company has expressed willingness to work with transportation authorities on a legal framework.
 
Apple has hired engineers from automakers, which ignited rumors it's developing automated vehicles.
But this is the first time the company has made its plans known.
 
The letter doesn't say what kind of technology Apple is working on, or when it plans to commercialize it.
...


64x64

Fed official stands by Wall Street reforms, says must complete work www.reuters.com

 
The United States "absolutely must" complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday.
 
In remarks that appeared to pre-empt President-elect Donald Trump, who has promised to roll back Wall Street regulations, New York Fed President William Dudley said much progress has been made making the financial system "less prone to panics."
 
"Still," he said in prepared remarks, "there is more to do before we can say that we have ended 'too big to fail.' This is work that we absolutely must complete."
 
Dudley's comments, to a Group of 30 meeting of top world regulators, came a day after another powerful regulator at the U.S. central bank, Daniel Tarullo, also warned against "backsliding" after years of implementing the landmark 2010 Dodd-Frank financial-reform law.
 
Challenges especially remain in regulators safely and smoothly handling the hypothetical failure of a massive bank with operations in multiple jurisdictions, Dudley said.
 
Addressing other areas of the financial landscape, Dudley, whose institution acts as the Fed's eyes and ears on Wall Street, drew a line around these areas he said provided important structure changes: reforms in tri-party reverse repurchase market; in over-the-counter derivatives and the central clearinghouses that handle that activity; and in money market mutual funds.
 
Trump, a Republican whose victory last month shocked pollsters, has said his administration will grow the economy in part by rolling back elements of the Dodd-Frank Wall Street reform law.
...


64x64

Greece sees final solution on debt crisis amid euro uncertainty www.reuters.com

 
Political uncertainty in Europe has created fresh momentum for a "comprehensive and permanent" solution to the Greek debt crisis before the year ends, a government spokesman said on Sunday.
 
Euro zone finance ministers will meet in Brussels on Monday to discuss short-term debt relief for Greece, and Germany's Wolfgang Schaeuble said it must implement reforms instead of hoping for further debt forgiveness.
 
Greece remained optimistic for a final debt deal, however, just as Italians are voting on a constitutional referendum on Sunday and a victory for the opposition 'No' camp may push the euro zone toward fresh crisis.
 
"Everyone realizes that Europe cannot stand a rekindling of the Greek crisis, when there are issues with Italy and amid a pre-election period in many European countries," Dimitris Tzanakopoulos told Athens 9,84 radio.
 
"The general uncertainty which prevails in Europe - which is both political and financial - creates ... a momentum for a comprehensive and permanent solution for the Greek issue."
 
Bank of Greece Governor Yannis Stournaras said new measures were needed to lighten Athens' debt burden. One option would be to extend the maturity of already granted long-term aid loans by some 20 years.
 
"Greece needs debt sustainability and more realistic fiscal targets after the completion of the current adjustment program (in 2018)," Stournaras told German business daily Handelsblatt in an interview to be published on Monday.
 
Athens has received three international bailouts since 2010 and its debt, at about 180 percent of GDP, is still the highest in the euro zone.
 
Talks between Athens and its official creditors as part of a bailout review have hit a snag on labor reforms including reviving collective bargaining on minimum wage and mass layoffs, in a country where unemployment stands at 23 percent.
 
Differences also remain over a projected fiscal gap in 2018, when Greece's program ends, and on energy reforms.
 
The EU and the International Monetary Fund are at odds over the country's fiscal targets after 2018. The IMF, which has yet to decide if it will participate in Greece's bailout program, says the target is unrealistic unless Athens is granted significant debt relief and adopts more austerity measures now.
 
"We've made clear that there is no chance we'll accept what the IMF demands on (austerity) measures and labor reforms," Tzanakopoulos said, calling on EU partners to support Greece.
 
Stournaras said it would be a good sign if the IMF remained on board.
 
"It would ensure more credibility for the program," the central banker said, adding that Athens' reform efforts were finally paying off and that the economy was on the right track.
 
Germany, Europe's paymaster, wants the IMF to join the program but says Greece does not need further debt relief.
 
Finance minister Schaeuble urged Athens to implement reforms: "If Greece wants to stay in the euro, there is no way around it - in fact completely regardless of the debt level," he told Bild am Sonntag in an interview on Sunday.
 
Tzanakopoulos said targets beyond 2018 could be discussed after medium- and long-term debt relief measures were outlined. A second Eurogroup meeting could seal the deal, he said.
 
The latest deadlock has sparked talk of early elections in Greece. The government has dismissed the rumors.
...


64x64

Alibaba restructures e-commerce business to get ready for 'new retail' www.chinadaily.com

Alibaba Group Holding Ltd announced on Friday its plan to restructure its e-commerce business in an effort to get ready for the era of data-driven new retail.

Daniel Zhang, chief executive officer of Alibaba Group, said that the company's business-to-customer site Tmall will be merged with its digital marketing unit Juhuasuan.

The decision aims to bring synergy among the company's business, marketing and operation units and explore all kinds of opportunities to digitalize existing businesses and make new businesses out of data, a move intended to better empower retailers.

Zhang made the announcement in an internal memo that was later made public on Friday. "We need to unify the service strategies for our customers and make sure the entire retail group can coordinate and act smoothly like one person," he said.

China's biggest e-commerce player earlier announced its plan of repositioning itself as a service provider to build digital and physical infrastructure for the future of commerce.

"With e-commerce itself rapidly becoming a traditional business, pure e-commerce players will soon face tremendous challenges," Jack Ma, executive chairman of Alibaba Group, said in mid October.

"This is why we are adapting and it's why we strive to play a major role 

...


64x64

Hacks at Russian central bank have cost 2 billion rubles www.cnn.com

Hackers in 2016 stole 2 billion rubles -- equivalent to $31 million -- from accounts that banks keep at Russia's central bank.
The Bank of Russia confirmed the cyberattacks and the extent of the losses to CNNMoney on Friday.
Hackers had tried to steal 5 billion rubles, but the central banking authority managed to stop them and redirect the funds, according to central bank security executive Artiom Sychev.
"We were lucky to return some of money," said a central bank spokesperson.
The hackers targeted commercial banks, but they also stole cash from their clients, the central bank reported.
The central bank did not say when the cyberheists occurred, but said they took place over 2016. They also did not say how hackers moved the funds. But so far, the attack bears some similarity to a recent string of heists that has targeted the worldwide financial system.

In January 2015, hackers got a hold of an Ecuadorian bank's codes for using SWIFT, the worldwide interbank communication network that settles transactions. They used Banco del Austro's credentials to steal money the bank kept at Wells Fargo.
In October, hackers used the same technique to slip into a bank in the Philippines.
Two months later, hackers tried to make fraudulent requests at a commercial bank in Vietnam. They were stopped.
This past February, computer hackers stole $101 million from Bangladesh's central bank -- also by gaining access to SWIFT. That time, the bank robbers made five transfers out of Bangladesh Bank's account at the Federal Reserve Bank of New York. The hackers tried to steal $951 million, but the Fed cut them off before the completion of the theft.
Researchers at the cybersecurity firm Symantec have concluded that the global banking system has been under sustained attack from a sophisticated group -- dubbed "Lazarus" -- that has been linked to North Korea.
But it's unclear who has attacked Russian banks this time around.
Earlier Friday, the Russian government claimed it had foiled an attempt to erode public confidence in its financial system.
Russian's top law enforcement agency, the FSB, said hackers were planning to use a collection of computer servers in the Netherlands to attack Russian banks. Typically, hackers use this kind of infrastructure to launch a "denial of service" attack, which disrupts websites and business operations by flooding a target with data.
The FSB said hackers also planned to spread fake news about Russian banks, sending mass text messages and publishing stories on social media questioning their financial stability and licenses to operate.
Editors note: This story has been updated to clarify that the losses cited from cyberattacks at Russia's central bank were for 2016, not a single attack.

 
 
 
...


64x64

Mourinho faces tax probe call over Sunday Times claims www.bbc.com

 

The tax affairs of football manager Jose Mourinho should be investigated by British officials following allegations he used off-shore companies to reduce his tax bill, a UK MP has said.
Mourinho is accused of moving millions of pounds of earnings to the British Virgin Islands to avoid paying tax.
The Manchester United manager's agent said the allegations were "unfounded".
Public accounts committee chairwoman Meg Hillier told the Sunday Times the claims required "close examination".
Further claims about the tax affairs of Mourinho - as well as other top international football stars - have been made in the Sunday Times and other European newspapers.
The publications acquired leaked documents from the website Football Leaks, following a cyber attack on football agents earlier this year.
Mourinho has been accused of using "a complex web of off-shore companies" to avoid paying tax in the UK and Spain.
The allegations surround his time as manager of UK side Chelsea, between 2004 and 2007, and Spanish club Real Madrid, between 2010 and 2013.
Panama Papers explained
According to the reports, Portuguese-born Mourinho, 53, placed £10m (€12m) into a Swiss account owned by a British Virgin Islands (BVI) firm.
The newspaper claims Mourinho and his advisers deducted substantial costs for a BVI company - which it suggests has no employees.
The Sunday Times says Mourinho - as well as Real Madrid star Christiano Ronaldo - also used bank accounts and companies in Ireland, Switzerland and New Zealand to process substantial earnings for their image rights.
However, Jorge Mendes - the agent for both Mourinho and ex-Manchester United player Ronaldo - denies the claim.
He says both men were fully compliant with UK and Spanish tax rules.
The statement added that the allegations stemmed from a cyber attack earlier this year on some sports agents, details of which were prohibited by a Spanish court from being published.

The head of HMRC will appear before Ms Hillier's committee - which is responsible for overseeing government expenditure - this week.
The Labour MP told the BBC: "I think it is really important that the tax authorities take a really close look at what's gone on and we will be raising this with them on Wednesday."
She said the allegations would be "galling" for football fans who buy season tickets and spend a lot of their disposable income on watching games.
"On Wednesday, we are already examining HMRC on how they deal with high net-worth individuals and it is clear that there are issues there about the resource they have got and how they go about dealing with people with very large amounts of wealth," she said.
International consortium
The allegations surrounding Mourinho and Ronaldo are based on two terabytes of leaked information which allegedly includes original contracts.
The claims were published by an international consortium of journalists - including German newspaper Der Spiegel, Spain's El Mundo and the UK's Sunday Times - which obtained a trove of about 18m documents.
Other top players were also named in the documents.
The consortium says it intends to publish a series of articles under the banner "Football Leaks" over the next few weeks.
It comes eight months after the so-called Panama Papers lifted the lid on how the world's rich and powerful use tax havens to hide their wealth.

Real Madrid, Ronaldo's current employer, did not respond to requests from news agencies for comment.
Manchester United said the allegations related to events before Mourinho's arrival at the club and so it would not comment.
One of the papers in the consortium, the Dutch NRC, alleges that Ronaldo moved €63.5m (£53.1m, $67.7m) to the British Virgin Islands at the end of 2014.
The paper says the striker received sponsorship fees which were moved via two Irish companies to the tax haven, 11 days before Spain changed an advantageous tax law.
According to the reports, Friday's first batch of leaks centred on "a system" put in place by Mr Mendes, whose company has denied any wrongdoing.
His company, Gestifute, said in a statement that neither Ronaldo nor Mourinho "have been implicated in legal proceedings of the tax evasion commission in Spain".
The company accused the media consortium of operating in an "insidious" way concerning the stars' tax obligations.

...


64x64

Russian Court Freezes IKEA Accounts www.themoscowtimes.com

A court in Smolensk, north-west Russia, has frozen 9.3 billion rubles ($145 million) from the bank accounts of Swedish furniture giant IKEA.

The seizure this month is just the latest round in a decade-long dispute between the company and one of its previous business partners, Konstantin Ponomaryov.

The Smolensk court ruled in favour of Ponomaryov, who has been trying to recover 9.3 billion rubles in what he says are unpaid fees from IKEA’s operations in Russia.

The ruling forbids Russia’s Federal Tax Service from registering any reorganizations or mergers of the company. The order is likely to prevent IKEA’s Russian subsidiary from ignoring the ruling.

IKEA has said it considers the court’s decision “unfounded and illegal.”

“We are already disputing [the ruling],” the Swedish company’s press service told the RBC news site Friday, adding that Ponomaryov’s actions amounted to a form of extortion through the courts.

IKEA’s lawyer Viktor Stepanov accused Ponomaryov of operating a scheme in which the company’s money will “immediately be removed from Russia into an offshore account.”

IKEA and Ponomaryov have a long and acrimonious history. From 2006 to 2010, the two parties were locked in a payment dispute over electrical generators for IKEA’s St. Petersburg stores. In 2008, Ponomaryov accused IKEA of ceasing to pay rent for the generators. IKEA agreed to pay Ponomaryov 25 billion rubles ($390 million) two years late.

Ponomaryov launched a new case against the company in August 2016.

IKEA has rented generators for its Russian stores ever since local authorities abruptly shut off electricity to their inaugural Moscow store shortly before its opening.

...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook