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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Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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IBM, Google, others to unveil new open interface to take on Intel www.reuters.com

Technology giants IBM Corp, Google and seven others have joined hands to launch an open specification that can boost datacenter server performance by up to ten times, to take on Intel Corp.
 
The new standard, called Open Coherent Accelerator Processor Interface (OpenCAPI), is an open forum to provide a high bandwidth, low latency open interface design specification.
 
The open interface will help corporate and cloud data centers to speed up big data, machine learning, analytics and other emerging workloads.
 
The consortium plans to make the OpenCAPI specification available to the public before the end of the year and expects servers and related products based on the new standard in the second half of 2017, it said in a statement.
 
Intel, the world's largest chipmaker, is known to protect its server technologies and has chosen to sit out of the new consortium. In the past also, it had stayed away from prominent open standards technology groups such as CCIX and Gen-Z.
 
"As artificial intelligence, machine learning and advanced analytics become the price of doing business in today's digital era, huge volumes of data are now the norm," Doug Balog, general manager for IBM Power, told Reuters.
 
"It's clear that today's datacenters can no longer rely on one company alone to drive innovation," Balog said.
 
Advanced Micro Devices Inc, Dell EMC, Hewlett Packard Enterprise Co, Mellanox Technologies Ltd, Micron Technology Inc, NVIDIA Corp and Xilinx Inc are also members of the OpenCAPI consortium.
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Apple CEO commends China app contest winner www.xinhuanet.com

HANGZHOU, Oct. 13 (Xinhua) -- Apple CEO Tim Cook has praised the champions of a Chinese university app contest, calling their designs "impressive and innovative."
 
Through his Twitter-like Sina Weibo account, Cook said on Wednesday that "entrants submitted many impressive, innovative ideas" at the contest, organized by Apple and Tsinghua University.
 
The China Collegiate Computing Contest received 361 app designs and projects submitted by students from 161 universities and colleges over a period of six months.
 
Cook congratulated the Zhejiang University team for their app Tipix, which won the top prize in the university app category.
 
Tipix is a photo-editing app. Users can choose brush or move their fingers on smart phones to turn their photo into artwork and share it on social media.
 
The app was invented by five students from Zhejiang University in 2013. Team leader Zhang Lekai, a PHD of digital art, said he hoped the app would help inspire creativity.
 
Cook watched the live demonstration of the four finalists on Wednesday. The outstanding winner -- the Tipix app -- will now take part in Apple's annual Worldwide Developers Conference next year.
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Mongolian, Japanese companies sign cooperation documents www.en.montsame.mn

Ulaanbaatar /MONTSAME/ During the official visit of the Prime Minister, Mr J.Erdenebat to Japan, Trade and Investment Forum was held, attracting representatives of over 50 Mongolia and 240 Japanese companies. In the margin, the investors and companies signed cooperation documents.
 
Namely, Energy Resource LLC and Sumitomo established a Memorandum of Understanding on cooperation in sales and marketing of coal, Tsagaan Chuluut Consortium and Suzuki Shoukai signed a Cooperation MoU, and Dry Milk LLC and Pirsai Company signed an agreement on certified distribution.
 
The Prime Minister has given an interview to Nikkei and met with the leaders of Japan-Mongolia friendship societies.
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Softbank to set up technology investment fund www3.nhk.or.jp

Japanese telecom operator Softbank Group says it will set up a fund to invest in the global technology sector, and a Saudi Arabian sovereign wealth fund will be the leading investment partner.
 
Softbank says it plans to invest at least 25 billion dollars over the next 5 years in the Softbank Vision Fund, which will be managed by a subsidiary in Britain.
 
It says Saudi Arabia's Public Investment Fund has agreed to put in at least 45 billion dollars over the next 5 years.
 
Softbank says several global investors are in ongoing talks about possible participation. It says the fund has a potential size of 100 billion dollars.
 
Softbank Group's chairman and CEO, Masayoshi Son, says the fund will be the biggest investor in the technology sector over the next decade.
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HP cuts up to 4,000 jobs worldwide www.bbc.com

US computer company HP Inc has said it expects to cut 3,000 to 4,000 jobs over the next three years.
The hardware business of the former Hewlett-Packard announced the plans as part of a larger restructuring effort.
It is hoped the cuts will generate some $200m (£163m) to $300m in annual savings for the firm, but they are expected to cost up to $500m in charges.
HP also issued a lower-than-expected earnings guidance for next year.
The company said it expected adjusted profit for the fiscal year 2017 to be between $1.55 and $1.65 per share.
Hewlett-Packard split into two businesses last year: HP Inc, which focuses on printers and computers; and Hewlett Packard Enterprise, which sold its software business to focus on data storage.
"I'm proud of the progress we have made in our first year as the new HP. Our focus is clear, our execution is solid, and we are positioned well for the next step in our journey," Dion Weisler, the company's president, said in a statement.
The job cuts come as sales of personal computers around the world continue to decline.
Earlier this week, research company Gartner said PC shipments declined 5.7% in the third quarter of 2016 compared with a year earlier.
Hewlett-Packard has in the past seen profits hit by declining sales of personal computers and has already had tens of thousands of job cuts in recent years.
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Snapchat heads for IPO that could value 'mega unicorn' at $25bn www.theguardian.com

Snapchat is preparing for a “mega unicorn” flotation on the stock market that could value the five-year-old mobile app known for its disappearing photos at as much as $25bn.
 
The company behind the app, which its 26-year-old founder Evan Spiegel created at his Stanford University fraternity house in 2011, is said to have appointed Wall Street banks Morgan Stanley and Goldman Sachs to lead its initial public offering (IPO) on the New York stock exchange as early as March 2017.
 
If the Los Angeles-based firm goes ahead with the flotation it will be the biggest technology IPO for years, and could pave the way for other bigger tech firms to go public. There are a string of “mega unicorns” companies, defined as those valued at more than $10bn, looking to realise their founders’ and investors’ wealth by floating on the stock market. Among those waiting in the wings are Uber (which was last valued at $68bn) and Airbnb (worth $30bn at its last investment round).
 
The flotation of parent company Snap Inc, which was valued at $18bn at its last funding round, will be the largest social media IPO since Twitter floated in November 2013. Since then Twitter has suffered, with its shares falling from a high of $69 to $17.80 on Thursday. The 140-character messaging company has been struggling to find itself a buyer as it fails to build revenue and grow its user base.
 
A Snap flotation would turn Spiegel and co-founder Bobby Murphy into multi-billionaires. At a $25bn valuation the founders’ stakes in the company, which recently changed its name to Snap Inc as it moves away from chatting to photography, would be worth almost $4bn each.
 
It would vindicate Spiegel’s decision to reject a $3bn takeover by Facebook in 2013, when Snapchat had yet to make any revenue.
 
Since then Snapchat has grown its daily user base (of mostly teenagers and young adults) to 150m, and hopes to generate advertising revenue of more than $350m this year, a big increase on the $59m it earned last year as it further explores partnerships with brands including Burberry, Tiffany and KFC.
 
Analysts at eMarketer recently said the company could bring in advertising revenue of almost $1bn by 2017, as brands ditch traditional advertising models for new media that appeals to younger people. Just over 40% of Americans aged between 18-34 are Snapchat users.
 
The firm recently launched a new service, called Snap Audience Match, that lets marketers match consumers’ email addresses and phone numbers with Snapchat’s user data in order to deliver targeted ads. Snapchat also lets companies know if users often consume certain types of content, like sport or gaming, so they can direct ads to those groups of people. These developments have angered some users and privacy campaigners.
 
A spokeswoman for Snap refused to comment on the company’s IPO plans. The appointment of a suite of banks to prepare for an IPO, which also including Barclays, Credit Suisse, JP Morgan, Deutsche Bank and Allen & Co, was earlier reported by the Wall Street Journal and Bloomberg.
 
The company can file its IPO documents privately with the Securities and Exchange Commission because the company makes less than $1bn in revenue.
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Gold is going back to $1,050 says Wells Fargo analyst www.mining.com

Gold and commodities entered a drawn out bear market five years ago and there are many more years of pain to go, says John LaForge with Wells Fargo.
 
"The reality is gold is a commodity and commodities have entered a long bear market," said LaForge who was interviewed by CNBC in July. LaForge is the head of Real Asset Strategy at Wells Fargo.
 
"Traditionally those long bear markets for commodities average about 20 years—and that is using data back to 1800—and we are only in year five."
 
Laforge sees gold heading back to its December lows since a commodity will "go back and test its lows off of the first move down multiple times."
 
Gold is up about $300 this year after hitting a low of $1,050 in December.
 
LaForge said this year's run up was overdue considering the gold's three year slide.
 
"I am a big believer in reverting to the mean and we definitely needed a bounce off of $1,000," says LaForge. "I would say it is going to be tough from here."
 
LaForge has made bearish statements about gold in the past. In 2014 he saw $660 per ounce gold as "in the cards."
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Sterling plunges to its lowest level in 168 years www.rt.com

The British pound has fallen to a low measured against a basket of trading currencies not seen since the mid-19th century, according to the Bank of England (BoE).
 
The effective exchange rate, calculated to mirror UK trade, is at rock bottom after hitting a low of 29.27. The mark is lower than the level sterling hit during the financial crisis, the introduction of floating exchange rates of the 1970s, and even the decision to leave the gold standard in the 1930s.
 
On Tuesday, sterling fell to a 31-year low against the US dollar over concerns of a possible “hard Brexit.” It traded as low as $1.2117 against the greenback.
 
Under the BoE’s current formula for the trade-weighted index, the biggest contributors to the currency basket are Germany (22.5 percent), US (16.5 percent), France (12.6 percent), Italy (8.3 per cent) and Japan (seven percent).
 
The pound rebounded slightly on Wednesday after Prime Minister Theresa May announced she would hold a parliamentary debate on Brexit proceedings and promised to fight for “maximum possible” access to EU markets.
 
Some analysts warn the British pound might fall out of the International Monetary Fund's elite basket of reserve currencies due to its continuing nosedive.
 
Sterling has dropped 17 percent against the US dollar since Britain voted to quit the European Union. The currency has come under renewed pressure and losses accelerated after Prime Minister Theresa May announced plans to trigger the process for the UK’s formal exit.
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Russia ends oil pipeline service agreement with Ukraine www.rt.com

Moscow has ended the contract to maintain oil pipelines in Ukraine. The order was signed by Prime Minister Dmitry Medvedev and details published on the government website.
 
According to the 1995 agreement, oil pipelines passing through Ukraine were operated by subsidiaries of Russia’s oil transportation monopoly Transneft. However in February 2016, the Ukrainian section of the pipeline was sold to a Swiss-registered company, International Trading Partners AG.
 
Thus the Kremlin said further Russian participation in the agreement is "impractical.” The deal was approved by Russian and Ukrainian antitrust agencies at the end of 2015.
 
International Trading Partners AG is registered in St Gallen in Switzerland, and is controlled by German Anatoly Schaefer, Interfax agency reported. According to Ukrainian media UNN, Schaefer has Moscow residency, and the money for the transaction was kept in a Moscow bank.
 
Before the sale, the pipeline was the subject of litigation between Russia’s Transneft and Kiev. In March 2015, the Supreme Economic Court of Ukraine rejected the complaint from Transneft on Kiev’s decision to nationalize the section of the pipeline that runs through the country.
 
Transneft uses the pipeline to supply diesel fuel to Ukraine. In September, Ukraine imported 150,000 tons of fuel.
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Uniqlo owner slashes 2020 goal www3.nhk.or.jp

Fast Retailing, operator of the Uniqlo clothing chain, has given up a long-held goal to hit nearly 50 billion dollars in sales by 2020.

President Tadashi Yanai says that figure is out of reach. He's slashed the target to about 30 billion dollars.

The announcement came as Fast Retailing released its earnings report for the year through August. The company notched a sales increase of about 6 percent from the previous year in yen terms. But net profit was down more than 56 percent at about 460 million dollars.

Executives blame the strengthening yen, as well as poor sales of winter clothing over the colder months.

Yanai hopes to boost the company's fortunes through online sales.

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