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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US to examine AT&T Time Warner deal www.bbc.com

 
US lawmakers and both presidential candidates have raised questions about AT&T's deal to buy Time Warner.
The US telecoms giant, already the country's third largest cable provider, is paying $85.4bn (£70bn) for the company, which owns CNN and HBO.
A Senate subcommittee responsible for competition will hold a hearing in November.
However AT&T's chief executive Randall Stephenson believes regulators will approve the deal.
Senator Mike Lee, the Republican who chairs the antitrust subcommittee, said the deal would "potentially raise significant antitrust issues, which the subcommittee would carefully examine".
The biggest merger to be announced this year would combine AT&T's distribution network, which includes 130m mobile phone customers and 25m pay-TV subscribers, with content from the Warner Brothers film studios and the cable TV channels HBO, the Cartoon Network and CNN.
The competition concerns centre on higher prices for customers and less consumer choice.
A spokesman for the Democratic presidential candidate Hillary Clinton said there were "a number of questions and concerns" about the deal that regulators needed to scrutinise, but added "there's still a lot of information that needs to come out before any conclusions should be reached".
Meanwhile Republican candidate Donald Trump has said that he would block the merger if he wins, because it was "too much concentration of power in the hands of too few".
The president does not have the final say - that lies with the US Justice Department, which can approve, block or put conditions on the takeover going through.
Other critics, such as John Bergmayer from Public Knowledge, a campaign group that promotes access to affordable media, warned that consumers may lose out from the deal. Mr Bergmayer suggested that AT&T might let mobile customers watch TV and films from Time Warner without counting it against their data caps, which would make video from other providers less attractive.
But AT&T's Mr Stephenson argued that there was "no competitive harm that is being rendered by putting these two companies together, so any concerns by the regulators, we believe, will be adequately addressed by conditions."
One expert told Reuters he thought the deal would be approved. Darren Bush, who teaches antitrust at the University of Houston, said the Justice Department would "look at it but they won't stop it".
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Marubeni, Pertamina, Sojitz to win $2bn Indonesian gas plant contract www.asia.nikkei.com

 
TOKYO -- A consortium of Japanese and Indonesian businesses likely will build and operate a roughly 1.6-million-kilowatt natural gas-fired power station in Indonesia, one of the country's largest run by a private operator.
 
Indonesian state-owned oil company Pertamina and Japanese trading houses Marubeni and Sojitz took first place earlier this month in bidding for the estimated $2 billion project for state utility PLN. The trio is expected to sign a formal contract after final negotiations.
 
The plant, to be located in Cilamaya in West Java Province, east of Jakarta, is expected to come online around 2021 and sell electricity to PLN. It will be built and operated by a joint venture in which Marubeni and Pertamina will each hold 40% stakes, with Sojitz owning the rest.
 
They will also construct a floating liquefied natural gas terminal and pipelines for delivering gas to the power station. Power generation equipment will likely come from General Electric and other suppliers.
 
Indonesia is firing up efforts to develop power sources amid economic growth, with President Joko Widodo pledging to open plants with an aggregate 35,000 megawatts of capacity by 2019. Most will be coal fired, but demand is strong for gas power plants, which emit less carbon dioxide. The new plant will use a combined firing technology involving both gas and steam turbines.
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Foxconn to enter chip market, partner with ARM on design center in Shenzhen www.asia.nikkei.com

 
TAIPEI -- Key iPhone assembler Hon Hai Precision Industry, also known as Foxconn Technology Group, is trying to expand its foothold in the semiconductor industry by partnering with SoftBank Group-owned ARM to create a chip design center in the southern Chinese city of Shenzhen, people familiar with the matter told the Nikkei Asian Review.
 
The move highlights the ongoing efforts by the world's largest contract electronics maker to build more key components and tap into new technologies for future growth faced with weakening global demand for smartphones. While Foxconn Chairman Terry Gou has set an annual sales growth target for his manufacturing empire of 10%, Hon Hai's revenue for the first nine months of 2016 dropped more than 3% year-over-year.
 
One nascent field Gou has enthused about is the internet of things, the technology that requires a growing number of chips to help items in daily use to connect to the internet and communicate with each other.
 
According to research company IC Insights, the IoT chip market will grow 19% to $18.4 billion in 2016, and will expand to $29.6 billion in 2019. Research group IDC estimates that the total IoT market will top $5 trillion in 2019.
 
"We want to get into semiconductor design and production," Gou told China's Shenzhen Satellite TV last week, at around the time when Foxconn signed a memorandum of understanding with the Shenzhen government to work together on semiconductor technology and startup incubators. He did not elaborate further.
 
Sources familiar with the plan said that Foxconn is working with ARM, the British innovator whose chip technology is adopted by 95% of smartphones worldwide, to create a chip design center in Shenzhen, without providing details.
 
ARM, Foxconn and SoftBank all declined to comment.
 
Better service
 
Foxconn's attempt to build its own chips and its earlier acquisition of embattled Japanese electronics conglomerate Sharp in the hope of developing advanced organic light-emitting diode panel technology appear to be part of its strategy to better serve customers by supplying key components as well as providing assembly services.
 
Further, both chips and OLED panels offer better revenue and margins than Foxconn's core assembly business. OLED panels are expected to be adopted by Apple's premium iPhone handset next year.
 
Other than Apple, Foxconn also assembles handsets for major Chinese brands including Oppo, Huawei and Xiaomi, with Japan's Sharp also planning to increase its smartphone offerings.
 
An industry executive said that Foxconn has been trying to develop an application-specific integrated circuit (ASIC), a customized chip, even though the company's presence in the semiconductor field has been very limited so far.
 
ASIC is designed for specific functions, such as a thermal sensor. It is not as powerful as a core processor or a graphic processor, but demand for ASIC is expected to surge with the rise of the IoT.
 
"It's very likely that Foxconn wants to expand its business beyond assembly and grow by making more key components for its customers," an industry executive said. "There is always the possibility that Foxconn's major customers including Apple may want to outsource some simple chips, and Foxconn will definitely want to secure those new businesses if it has the capability."
 
Another industry source said that both Foxconn and Sharp have licensed chip technology from ARM previously.
 
Shenzhen connections
 
The person further said that Foxconn has recently made a strong investment commitment to the Shenzhen authorities with the signing of the memorandum of understanding.
 
Shenzhen is already home to Foxconn's China headquarters and now it seems that the coastal city may play an even more vital role in the Taiwanese manufacturing titan's future, with Apple also expanding operations in the area.
 
Earlier this month when Chief Executive Tim Cook visited Shenzhen, Apple, which accounts for more than 50% of Foxconn's annual revenue, announced that it will set up a research and development center in the coastal city, coinciding with Foxconn's move to deepen ties with local authorities.
 
During Cook's trip, Gou accompanied him to meet Chairman Xu Shaoshi of China's National Development and Reform Commission and other senior Shenzhen officials.
 
Meanwhile, the new Foxconn-ARM chip design center is being created following close collaboration between Gou and SoftBank Chairman and Chief Executive Masayoshi Son.
 
Both share the belief that the IoT will be a major growth driver in the future and it should become a core business of their respective companies. This conviction led Son to acquire ARM for 23 billion pounds ($31 billion) earlier this year.
 
Gou and Son have also been working together closely on other business opportunities. Foxconn has been making SoftBank's humanoid robot Pepper, and the two companies have been investing in renewable energy and startups together in India. They also have formed a joint venture with China's e-commerce giant Alibaba to market Pepper worldwide.
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FED Beige Book: US economy expands www3.nhk.or.jp

 
The US Federal Reserve says the country's economy continues to expand, raising speculation that the central bank will increase its key interest rate by the end of this year.
 
The Fed released its latest Beige Book on Wednesday. The report is based on surveys of businesses conducted by the bank's 12 districts.
 
It says overall consumer spending was mixed between late August and early October, but retail sales increased in a majority of districts.
 
Employment expanded at a moderate pace, while labor market conditions remain tight across most districts.
 
Some districts reporting labor shortages are putting upward pressure on wages in certain sectors.
The Beige Book cites concerns among some Fed officials that uncertainty over economic policies of the next administration could affect personal consumption.
 
Financial market players expect that Fed policymakers will not raise the interest rate at their next meeting in November, which will be held one week before the presidential election.
 
Speculation is growing that the central bank will decide on the first rate increase in a year in December.
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Joy Global shareholders approve $3.7 billion acquisition by Komatsu www.mining.com

 
Mining equipment maker Komatsu (TYO: 6301) scored a major win Wednesday as shareholders in its US-based competitor Joy Global (NYSE:JOY) overwhelmingly approved the proposed sale to the Japanese firm.
 
The $3.7 billion transaction, first announced in July, is the latest takeover in a string of outbound M&A deals by Japanese companies encouraged by a strong yen.
 
“[The] approval represents a key milestone on the path to completing the transaction, which will deliver compelling value to Joy Global stockholders and further our ability to lead the mining industry,” Ted Doheny, the company’s President and CEO said in the statement.
 
Under the terms of the agreement, Joy Global stockholders will receive $28.30 per share in cash for each outstanding share of common stock held, representing a 48% premium to the volume weighted average closing price of Joy Global’s common stock for the 90 trading days, and a 41% premium to the volume weighted average closing price of the firm's common stock for the 60 trading days prior to July 21, the day the deal was announced.
 
Stronger in the West
 
The deal, Komatsu’s biggest-ever acquisition, is set to boost its ability to compete with Western rivals, particularly Caterpillar (NYSE:CAT).
 
The transaction still remains subject to other closing conditions and regulatory clearances in other countries. Regulators in the U.S. and Canada have already cleared the transaction, which is on track to close in early- to mid-2017.
 
Joy Global will operate as a separate subsidiary of the Tokyo-based firm, the world's second-biggest mining and construction equipment maker, and will retain the Joy Global name and headquarters in Milwaukee, company officials have said.
 
Currently, Komatsu only makes surface-mining equipment, while Joy is the largest independent manufacturer of machines used underground.
 
The deal is expected to close next year.
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Mattel sales beat estimates as Barbie shines www.reuters.com

 
Mattel Inc (MAT.O), the largest U.S. toymaker, reported better-than-expected quarterly revenue, driven by strong demand for its flagship Barbie and Fisher-Price brands.
 
Mattel's shares rose about 6 percent to $32.39 in extended trading.
 
Barbie's worldwide sales increased 15.8 percent in the third quarter ended Sept. 30 as Mattel's efforts to revive sales of its signature brand gained traction.
 
In January, Mattel rolled out Barbie dolls in a variety of skin tones, hairstyles and outfits and in three new body shapes - tall, curvy and petite - to appeal to a larger demographic.
 
The launch of the new range followed two years of declining sales of Barbie dolls around the world as girls increasingly turn to other dolls, electronic toys and tablets.
 
The company had also changed its marketing strategy to position its dolls as more than a pretty face, with ad campaigns such as "You Can Be Anything" highlighting the potential of women in various professions.
 
Fisher-Price and the Wheels category, which includes Hot Wheels, were also bright spots for Mattel in the third quarter, with sales rising about 6 percent each.
 
Sales of its American Girl products were up 14 percent, compared with a 2 percent decline a year earlier.
 
Mattel in August announced a multi-year partnership with retailer Toys "R" Us Inc to have retail units of American Girl dolls and accessories in its stores.
 
"While we still have a critical fourth quarter to execute, we remain broadly on track to deliver on our full-year outlook," Chief Executive Christopher Sinclair said in a statement on Wednesday.
 
‎El Segundo, California-based Mattel's revenue rose to $1.80 billion from $1.79 billion. Analysts on average had expected $1.77 billion, according to Thomson Reuters I/B/E/S.
 
Net income rose to $236.3 million, or 68 cents per share, from $223.8 million, or 66 cents per share, a year earlier.
 
Excluding items, the company earned 70 cents per share, a cent below the average analyst estimate.
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Saudi Arabia expects to raise record $17.5bn in bond sale www.rt.com

 
Riyadh plans to sell $17.5 billion in its first bond offering, several media outlets report. It would make the Saudi bond issue the largest from an emerging-market nation, outpacing Argentina’s $16.5 billion offering in April.
 
According to Bloomberg quoting sources in the government, the Saudis plan to sell dollar-denominated bonds due in five years for about 140 basis points more than similarly maturing US Treasuries, 10-year bonds at a spread of about 170 basis points and 30-year securities at 215 basis points.
 
The Financial Times said the yields will be 2.63 percent, 3.44 percent and 4.64 percent, respectively. The original guidance stipulated 10-year bonds to be sold at 3.6 percent.
 
The demand for Saudi bonds much exceeded the offer. Investors had applied for $67 billion for the Kingdom’s first international bond sale.
 
Saudi Arabia saw a record $98 billion budget deficit last year, or 15 percent of GDP, and is struggling to cut the gap this year. The country plans to use the money raised in the bond sale to cut the deficit, easing pressure on burning through its foreign reserves.
 
As of late August, Saudi Arabia’s reserves stood at $555 billion, down $6 billion from the month before and at the lowest level since 2012. The holdings peaked in August 2014 at $737 billion before the oil prices plummeted from $114 per barrel to the current $50.
 
"Not only could the bond help develop the Kingdom’s debt markets by introducing a more sophisticated type of investor, but there are also positive ripple effects for Gulf Cooperation Council fixed income as well as more global investors take a closer, and longer-term, look at the region," said Mohieddine Kronfol, chief investment officer for Middle East fixed income at major asset manager Franklin Templeton Investments.
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DiCaprio to cooperate with Feds in money laundering probe www.rt.com

Leonardo DiCaprio will work with the US Department of Justice (DOJ) in a corruption investigation into Malaysia's sovereign wealth fund 1MDB.
 
The Hollywood actor's charity foundation and movie The Wolf of Wall Street allegedly received money stolen from the fund.
 
The actor is ready to give back all the money if the investigation reveals it came from people or organizations involved in corrupt practices, according to DiCaprio's representative.
 
“Mr. DiCaprio is seeking to determine whether he or his charitable foundation (Leonardo DiCaprio Foundation, LDF) had received any gifts or charitable donations directly or indirectly related to these parties, and if so, to return those gifts or donations as soon as possible,” the actor’s spokesman said as quoted by WSJ.com.
 
Starting from July, when US authorities raised the allegations, DiCaprio has been entirely supportive of all efforts to assure that justice is done in the matter, according to the spokesman.
 
“Mr. DiCaprio is grateful for the lead and instruction of the government on how to accomplish this,” he stressed.
 
In July, Hollywood production company Red Granite Pictures was charged with using $100 million allegedly diverted from the 1MDB fund to finance Martin Scorsese’s 2013 movie The Wolf of Wall Street, in which DiCaprio starred.
 
Later, the DOJ launched an investigation into an alleged link of the actor’s foundation to fraudulent operations by the Malaysian fund. Over $3 billion has allegedly been diverted from 1MDB by one of the fund's creators Malaysian financier Jho Low.
 
The Oscar-winning actor has been embroiled in the 1MDB issue because of his association with Jho Low and others connected to the film. It includes Riza Aziz, co-founder of Red Granite Pictures and stepson of Malaysian Prime Minister Najib Razak.
 
Last week, Switzerland’s Bruno Manser Fund called on DiCaprio to step down from the position as a United Nations “Messenger of Peace for Climate Change” amid possible ties to the alleged fraud.
 
The US Justice Department is looking to seize $1 billion in what it charges to be misappropriated funds. The total sum allegedly diverted by the fund comes to more than $3.5 billion.
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Rising oil price lifts Wall Street www.bbc.com

The Dow Jones rose 40.68 points to 18,202.62 while the wider S&P 500 edged up 4 points to 2,144.29.
Oil prices rose over 2% after figures suggested a drop in US stockpiles. Shares in Chevron added 0.5% and Chesapeake Energy climbed 3.1%.
The tech-focused Nasdaq rose just 2.6 points to 5,246.41, with Intel down nearly 6% after its latest results.
Intel reported better-than-expected third-quarter earnings and revenue, but its shares were hit after its forecast for fourth-quarter revenues fell slightly short of expectations.
Intel is predicting revenues of $15.7bn in the quarter, plus or minus $500m, compared with analysts' expectations of $15.86bn.
Morgan Stanley shares rose 1.9% after the bank reported a 62% jump in third-quarter earnings to $1.5bn.
Like the other major US investment banks, Morgan Stanley's results were boosted by a big increase in bond trading, with revenues from that activity rising to $1.5bn in the quarter from $583m a year earlier.
Volumes of bond trading have been strong in recent months, partly due to the UK's vote to leave the EU and also due to speculation about moves in US interest rates.
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AIIB committee discusses strategy www3.nhk.or.jp

 
An international advisory committee for the China-led Asian Infrastructure Investment Bank has held its first meeting in Beijing.
 
AIIB President Jin Liqun and 10 other members including former Japanese Prime Minister Yukio Hatoyama exchanged views on the business strategy and the bank's operations.
 
The AIIB currently has 57 member nations. At least 20 other countries are thought to have applied for membership.
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