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    

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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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The view from shell-shocked Silicon Valley www.bbc.com

If you can’t beat ‘em, leave ‘em.
Remarkably, that seemed to be the knee-jerk reaction of at least some of Silicon Valley’s elite in the wake of Donald Trump becoming president-elect on Tuesday.
"I am announcing and funding a legitimate campaign for California to become its own nation,” wrote Shervin Pishevar, a major investor in companies like Uber, AirBnB and Slack.
"I'm in and will partner with you on it,” replied Dave Morin, another major tech investor.
It’s been agreed, the new promised land should be called New California.
"It's the most patriotic thing we can do,” Mr Pishevar said.
The proposal - one that, let’s face it, is faintly ridiculous - represents peak panic in the wake of an election that has left much of Silicon Valley stunned and grasping for answers.
‘Open door'
There are two bubbles in this part of the world - one is about money, the other is about its world view.
On her disastrous night, Clinton got more votes in California than in any other part of the country. Here, the prospect of a Trump presidency wasn’t just unlikely, it was unthinkable.
Before the vote, openly supporting Mr Trump was seen by many as a crime worthy of losing your job.
When it emerged that Facebook board member and major investor Peter Thiel was donating more than $1m to the Trump campaign, many called for him to be sacked.
But just a few weeks on, Mr Thiel, a person who has made his vast fortune over long-term bets, proved to be the most astute man in the Valley once again.
“He has an awesomely difficult task, since it is long past time for us to face up to our country’s problems,” he said in a statement after Mr Trump’s win.
"We’re going to need all hands on deck.”
Coming to terms
Mr Thiel remains an outlier here. What we’ll likely see over the next few days is an industry and community slowly contemplating what life in Silicon Valley will mean under President Trump.
Chris Sacca, an early investor in Twitter, said technology companies should be open to the new leader.
"We in the tech community are willing to work with President-Elect Trump to help those Americans who need it most,” he tweeted.
"The door is open.
"Very few people were as vocal in their opposition to Donald Trump as I was. But sitting on our hands for four years is a bad option."
As I type, we’re yet to hear from the real key players: Apple, Facebook and Google.
Their message will be instrumental in setting the collective mood here.
Meanwhile, Twitter boss Jack Dorsey may be enjoying one silver lining: shares in the struggling network, still by far the best platform on a day like Tuesday, jumped 4% to its best pricing since October.
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Coal mines, utilities ink long-term price deal www.chinadaily.com.cn

Move to help prevent violent fluctuations in market and maintain orderly trading
 
China's major coal producers and power groups have signed a long-term deal at a fixed price to ensure stable coal and power supplies in the country, in a bid to hammer out a strategy to halt the persistent rise in coal prices, said the nation's top economic regulator on Wednesday.
 
Two of the nation's top coal mines, Shenhua Energy Co and ChinaCoal Energy Co, have signed long-term supply contracts with utilities at 535 yuan ($79) per metric ton, 25 percent below the current spot market rates, as the government ramps up its efforts to cool the red-hot market.
 
The long-term deal will start on Dec 1, and will help prevent violent fluctuations in coal prices and maintain an orderly market, Xu Kunlin, deputy secretary-general of the National Development and Reform Commission, said at a briefing on Wednesday.
 
Zuo Qianming, an expert with China National Coal Association, said the price rise has to do with China's effort to cut overcapacity and regulate its coal sector.
 
"Despite the fact that thermal coal prices have hit a record in recent weeks after the government tried to tighten supplies for utilities, causing much concern in industry and among the public, it is still demand driven," said Zuo.
 
"However, as coal consumption declines year by year, the country should still stick to reducing overcapacity despite the recent drastic price rise."
 
The country's intensified effort to cut overcapacity had led to huge rises this year in the bulk commodity price, including thermal coal.
 
Despite government efforts since September to boost supply, the surge has yet to be eased and has drawn the scrutiny of the authorities.
 
According to Xu, there were no grounds for recent coal price increases in the country to be sustained, and prices might even drop after sporadic factors fade away and a periodic coal supply glut and price decline is likely to follow.
 
"Once the sporadic factors fade away, a periodic coal supply glut and a price decline will be high-probability events," he said.
 
"The recent coal price surge in China was irrational and unsustainable, and the prices would retreat as supplies increased with no basis for further rises in coal prices."
 
Xu added that the supply-demand situation in China's coal sector has not changed and has reached a balance due to controls on output.
 
"The country should firmly stick to the overcapacity reduction program despite the price hikes," he said.
 
"In the long term, with coal consumption capacity gradually declining, the coal market will hardly see any rapid increase, and with the new energy gradually replacing traditional energy such as coal, there will be barely any substantial growth capacity for the coal sector."
 
Zuo said the deal would also help avoid a big hike in residential power costs.
 
This is the first time that the NDRC has held a media briefing to discuss this year's historical coal price rally and concerns about tight supplies of the raw material used by utilities.
 
The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports, rose to 607 yuan per ton earlier, the 18th consecutive rise and about 63.6 percent up on the start of the year.
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S&P affirms U.S. investment-grade ratings after presidential election www.reuters.com

Ratings agency Standard & Poor's affirmed the United States' investment-grade 'AA+/A-1+' rating on Wednesday, a day after the presidential election, while maintaining its stable outlook.
 
Donald Trump won the U.S. presidential election in a stunning upset, and will take office in January, with the Republicans maintaining majority control of the House of Representatives and the Senate.
 
"We assume the longstanding institutional strengths and robust checks and balances of the U.S. will support policy execution in a Trump administration, despite the president-elect's lack of experience in public office, which raises uncertainty on policy proposals,” the ratings agency said.
 
But S&P added that the United States' high general government debt and increased uncertainty over its trajectory constrain the ratings of the world's largest economy.
 
There is a risk of policy uncertainty and potential missteps given the untested nature of the incoming Trump administration. If these risks eventuate, there could be downward pressure on the rating, S&P said.
 
S&P said it would raise the rating if it saw evidence that efforts point to more proactive fiscal and public policies that result in a lower debt burden.
 
Fitch Ratings said on Wednesday that Trump's victory does not have near-term implications for the United States' AAA/stable rating.
 
The medium-term impact of president-elect Trump's economic and fiscal policies would be negative for U.S. sovereign creditworthiness if they were implemented in full, the ratings agency said. bit.ly/2fmgQ97
 
Moody's Investors Service said that Trump's victory will impact a range of companies operating in several different sectors.
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Firm chairman sentenced to death for Tianjin fire www3.nhk.or.jp

A Chinese court has given the head of a logistic company a suspended death sentence in connection with a massive explosion in the port city of Tianjin last year.

173 people died or went missing in the blast and fire at a chemical warehouse in August of last year. The explosion destroyed factories and nearby condominiums.

China's state-run Xinhua news agency reported that a Tianjin court on Wednesday gave the company's chairman Yu Xuewei the sentence for illegal storage of dangerous substances at the warehouse and other charges. A suspended death sentence is usually commuted to life in prison after 2 years.

The court gave 23 other company officials jail sentences ranging up to life imprisonment. It also jailed 25 local government officials for bribe-taking and other charges.

China watchers say the harsh sentences appear to be aimed at showing tight discipline for ranking officials, as serious accidents have repeatedly occurred in China.

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Visa fees will be paid in Mongolian Tugrik only www.gogo.mn

Prime Minister J.Erdenebat obliged affiliated ministries on several issues at the beginning of the cabinet meeting. 
Particularly, Prime Minister gave a concrete task to authorities of Oyu Tolgoi, Erdenes-Tavantolgoi, Energy Resource and local Tavantolgoi company when he was working in Umnugobi aimag during the weekend. In regards, he obliged affiliated ministries to establish a working group in charge of developing proposal on measures to be taken on Gashuunsuhait port, ensuring the implementation and monitoring. 
Moreover, he assigned Deputy Minister of Mongolia to provide winter preparation while he assigned Minister of Finance to study the possibility to freeze the increase in exchange rate and to develop affiliated draft law if needed. 
In addition, he engaged all foreign embassies, operating in Mongolia to receive their visa fees in national currency of Mongolia, the Tugrik (MNT).

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#InspireMe Festival Ulaanbaatar Shangri-La Mall www.mongolianbusinessdatabase.com

Her Majesty’s Ambassador, Catherine Arnold, invites you to attend the “Business Zone Seminars” for entrepreneurs and start ups.

15:30-15:50 Business idea modelling - G. Oyungerel, training manager, Youth Business Mongolia
15:50-16:10 How to start your own business? Funding options - E.Bat-Orshikh, Executive Director, Development Solutions
16:10-16:30 Working with foreign partners - J.Nomin, Director, Mongolia Talent Network
16:30-16:50 Building international supply chain - Nancy Johnston, Founder of Tengri
16:50-17:10 Entrepreneurship: Ch. Gankhuyag, CEO of Ard Financial Group
17:40-18:40 Startup Grind Mongolia: Nomin Ch., CEO, Mongol HD

Date: 11 November

Time: 15:30 – 18:40

Location: Shangri-la Mall/ Business zone (F1, Art Space Gallery)

SEATING IS LIMITED AND AVAILABLE ON A FIRST COME FIRST SERVE BASIS.

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US stock markets neutral on Trump win www.rt.com

The main US indexes did not plunge significantly during the first minutes of trading in New York. Futures had pointed to a sharply lower open for Wall Street on Wednesday after Donald Trump won the US presidential election.
 
The Dow Jones Industrial Average was trading flat at 18,341 points. The Nasdaq Composite dropped 17 points, or less than a half percent. The S&P 500 index was 0.14 percent down.
Germany’s DAX and France’s CAC 40 index were losing less than half a percent, while UK’s FTSE 100 was up 0.2 percent.
 
Shares in steel producers, defense firms and pharmaceuticals firms are rallying, as speculators expect a rise in infrastructure projects, military spending, and a more favorable environment for drug producers during Trump’s administration.
 
Pfizer was up nearly 10 percent, while its rival Merck gained six percent. Machine maker Caterpillar went up eight percent.
 
Shares in biotech companies are skyrocketing with the Nasdaq biotech index showing its biggest intraday gain in eight years.
 
Gold, platinum, palladium and other precious metals were all in the green, rising one to two percent.
 
The crude oil benchmarks have fallen less than half a percent, with Brent trading at $45.88 and WTI at $44.8 a barrel.
 
Healthcare firms are the worst performers on the S&P 500 with insurance group Centene Corporation down 16 percent. Private healthcare providers are also falling eight to 14 percent.
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German consortium to invest almost €3bn in Russian high-speed railway www.rt.com

A consortium of major German companies is ready to provide €2.7 billion to construct the Moscow-Kazan high-speed railroad, according to the Vice President of Russian Railways Alexander Misharin. Initially the sum proposed was €2 billion.
 
"Now we speak about investment of about €2.7 billion," Misharin told TASS, adding the terms of the financing will be fixed in an intergovernmental agreement.
 
Germany’s Siemens is part of the consortium and has said it is ready to manufacture rolling stock for the route. The company wants to provide an enhanced version of its high-speed Sapsan train for the new line. Siemens’ Sapsan trains currently operate on the Moscow to St. Petersburg line.
 
The route from Moscow to Kazan is planned as part of a network of high-speed lines to be built by 2018 when Russia hosts the FIFA World Cup. Kazan will be one of the Russian cities hosting the tournament.
 
The ambitious project has already attracted interest from China which plans to put in up to $6 billion.
 
Last year, the China Railway Group won a $390 million contract to develop the Moscow-Kazan railway which may be extended to the Chinese capital. The route is expected to become part of the grand Silk Road project, a Chinese economic corridor with Russia and Mongolia. Beijing sees the high-speed rail project as a way to boost communication and trade with Russia and Europe.
 
The cost of the 770 kilometer Moscow-Kazan link is estimated at $21.4 billion. It will stretch through seven regions of Russia, reducing the current 12-hour journey time from Moscow to the capital of the Republic of Tatarstan to just three and half hours.
 
The trains will be able to reach speeds of 400 kilometers per hour. The average annual passenger traffic is estimated at about 200 million people.
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Russia wants to restore Europe business ties, but Brussels shows no goodwill – economy minister www.rt.com

 
Moscow seeks to abolish mutual restrictions with the EU, but Brussels doesn’t show commitment to the matter, Economic Development Minister Aleksey Ulyukaev told Italian business leaders in Rome on Tuesday. Italy has been opposing anti-Russian sanctions, calling them counterproductive.
 
“As for cars, clothing and furniture, there are no imports restrictions. The restrictions apply to agricultural products. They’re probably quite significant,” Ulyukaev said.
 
“But this is not our choice. The best solution is to mutually waive these limitations, we would welcome it, but unfortunately our partners – including the European partners – are not showing goodwill here," he added.
 
Italian businesses have been seeking ways to continue delivering their products to the Russian market despite the restrictions. For example, investors from Italy plan to build a buffalo farm and a mozzarella production plant in Crimea, aiming to put €300 million (US$337 million) into the enterprises.
 
Italian Prime Minister Matteo Renzi openly criticized anti-Russian sanctions at an EU summit in October and spoke against their expansion.
 
“We should do everything possible for a peace deal in Syria, but it’s difficult to imagine that this should be linked to further sanctions on Russia,” Renzi said, as cited by Reuters.
 
In July, the Italian province of Tuscany unanimously backed a resolution urging the lifting of anti-Russian sanctions. The region followed footsteps of Lombardy, Veneto and Liguria, who have acknowledged right for self-determination of the people of Crimea, who voted to leave Ukraine and reunite with Russia in 2014.
 
Trade relations between Russia and the EU have significantly deteriorated since 2014, when Europe accused the Kremlin of fueling the Ukrainian crisis and imposed several rounds of sanctions. The restrictions targeted Russia's banking, energy and defense sectors. In response, Russia imposed a food embargo targeting countries that joined anti-Russian sanctions.
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M&S to axe stores as Rowe beats a retreat www.chinadaily.com.cn

Marks & Spencer Group Plc announced plans to shut 30 clothing stores in the United Kingdom and switch others to food-only outlets as Chief Executive Officer Steve Rowe unwinds the expansion efforts of his predecessor and seeks to reverse years of lackluster performance.

The retailer will also shutter 53 stores outside the UK and begin consultations with 2,100 workers as it retreats from 10 countries including China and Belgium, it said on Tuesday, while cutting its margin outlook for the year.
"M&S have been trying to dig their general-merchandise business out of trouble for several years, but for now it seems that the time has come to stop digging," said Phil Dorrell, partner at consultant Retail Remedy.
"By closing stores and cutting jobs without an accompanying announcement on a new strategy, M&S are giving in."
M&S veteran Rowe is taking immediate action to address the fashion retailer's struggles at home and abroad after replacing Marc Bolland as CEO this year.
Domestic clothing sales have been in near constant decline for five years as shoppers defect to nimbler rivals such as Hennes & Mauritz AB and Inditex's Zara.
International earnings have been weighed down by weak demand in Europe and turbulent economic conditions in Asia and the Middle East.
The domestic closures will take place over five years, M&S said, without disclosing how many jobs will be lost.
The downsizing represents the end of an era for the 132-year-old company that was long regarded as the bellwether of UK retailing.
"These are tough decisions, but vital to building a future M&S that is simpler, more relevant, multi-channel and focused on delivering sustainable returns," Rowe said in the statement.
The domestic closures will reduce the amount of space devoted to clothing and home wares by 10 percent, said the company, which has 304 UK clothing and home stores.
Taken together, Rowe's actions will lead to the loss of 60 clothing outlets.

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