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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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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Russia-India oil deal challenges Saudi supremacy in Asia www.rt.com

The $13 billion sale of India's Essar Oil to Russia's Rosneft and other investors, gives Russia access to the most promising and fastest growing market. The deal also challenges Middle East producers who provide nearly two-thirds of India’s imported energy.
 
The agreement, signed on Saturday, is the biggest foreign acquisition in India. Rosneft is purchasing a 49 percent stake in Essar, with another 49 percent sold to a consortium of the Netherlands-based commodity trading house Trafigura and a Moscow-based private investment company United Capital Partners.
 
India is expected to become the fastest growing oil consumer through 2040, according to the International Energy Agency.
 
The deal includes the sale of nearly 2,700 Essar Oil filling stations and allows Rosneft access to a market of 1.3 billion people which imports 80 percent of its crude requirements.
 
“India will be the most important product-growth market over the next 25 years, making it important to Russia,” said Neil Beveridge, a Hong Kong-based analyst at investment advisory Sanford C. Bernstein & Co.
 
Another critical aspect for Russia was beating out rival suitors from Iran and Saudi Arabia to buy Essar.
 
“This would be in response to Saudi Arabia’s attempts to penetrate the European market, which is dominated by Russian oil,” said Abhishek Kumar, an analyst at InterfaxEnergy’s Global Gas Analytics in London, stressing that the acquisition would bring Russia greater influence in the Asian market.
 
The transaction opens up a “unique synergetic possibilities” for active assets owned by Rosneft, as well as for projected enterprises, said Rosneft CEO Igor Sechin. The takeover offers the potential to expand in the Asia-Pacific region by supplying fuel to Indonesia, Vietnam, the Philippines and Australia, according to Sechin.
 
The Russian oil firm plans to supply ten million tons of Venezuelan crude to Essar’s Vadinar refinery over the next decade. Rosneft and Venezuela’s state-owned Petroleos de Venezuela signed a strategic partnership pact earlier this year.
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Tesla, Panasonic to collaborate on solar cells production www.reuters.com

 
Elon Musk's Tesla Motors said it would collaborate with Japan's Panasonic Corp to manufacture solar cells and modules in New York.
 
Under the agreement, which is a non-binding letter of intent, Tesla said it will use the cells and modules in a solar energy system that will work seamlessly with its energy storage products Powerwall and Powerpack.
 
The Japanese company is already working with the U.S. automaker to supply batteries for the Model 3, its first mass-market car.
 
Panasonic is expected to begin production at the Buffalo facility in 2017 and Tesla intends to provide a long-term purchase commitment for those cells, Tesla said in a statement, adding the agreement is contingent on shareholders' approval of its acquisition of SolarCity.
 
Last week Tesla and SolarCity Corp shareholders agreed to vote on the proposed merger on Nov. 17, and the automaker said it would provide plans for the combined company ahead of the vote.
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Cyclones off Western Australia could hike iron ore price www.mining.com

Cyclones slamming into Western Australia are nothing new for Australia's iron ore producers, but this summer could be especially stormy in the Southern Hemisphere, according to the Australian Bureau of Meteorology.
 
The bureau forecasts that inclement weather due to "neutral to weak La Niña conditions in the tropical Pacific Ocean and warmer than average ocean temperatures to the north and east of Australia," will mean a higher-than-average number of cyclones for the region. A greater frequency of cyclones generally corresponds to the La Niña weather phenomenon.
 
"Ocean temperatures are currently 1–2 °C warmer than average to the north and east of Australia which is favourable for tropical cyclone development. The Southern Oscillation Index, a measure of the atmospheric component of [the El Niño-Southern Oscillation] (ENSO), has been positive through this period and exceeded La Niña thresholds in the last two weeks of September," the bureau stated in its Australian Tropical Cyclone Outlook for 2016 to 2017, published last week.
 
It predicts Western Australia, which hosts the Pilbara iron ore belt, has a 67% chance of getting more than the average 11 tropical cyclones from November to April. At least two of those cyclones are expected to make landfall, compared to last season, which was the least active on record. A cyclone in January shut down Port Hedland, the world's largest iron ore port. Queensland, a major coal-producing region, will be hit worse. The bureau says the Queensland coast will see up to eight cyclones, though only one or two should reach land.
 
The expected bad weather has Macquarie, an Australian bank, saying that the supply or iron ore and metallurgical coal could be affected.
 
“The first quarter of each year is typically weakest for seaborne supply for both commodities due to wetter weather, and with conditions expected to be more adverse than usual, these markets could stay tighter for longer,” says the bank in a research note quoted by The Australian.
 
In the most recent trading session iron ore was up 20 cents to US$56.80 per tonne, extending gains to five straight sessions.
 
The price of iron ore is up 32% this year and like coking coal the resurgence comes against expectations of further declines as Chinese steelmaking peak after three decades of growth.
 
In 2011 floods in key export region in Queensland saw the coking coal price touch $335 a tonne. The iron ore price peaked in February that same year at $191.50 a tonne.
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BMW still strong in Chinese market www.chinadaily.com.cn

BMW Group maintained its No 2 position in the world's largest market with a year-on-year surge in sales approaching 10.6 percent in the first three quarters of this year. It was closely followed by Mercedes-Benz, which achieved a 30 percent rise in sales.
 
The number of BMW and Mini vehicles delivered on the Chinese mainland totaled 49,204 units last month, 19.6 percent more than in the same period last year. The accumulated sales volume in the first three quarters also surged by 10.6 percent, reaching 379,176 units.
 
Sales on the Chinese mainland, BMW Group's largest single market, fueled the group's considerable sales growth.
 
BMW Group's worldwide volume increased in September by a record 10.5 percent after it delivered a total of 237,973 vehicles.
 
The increase helped the company register its best-ever sales figures for a year's first three quarters, with year-to-date sales of 1.75 million units, up 6.2 percent compared with the same period last year.
 
"Our policy of balanced global sales continues to deliver sustainable success and profitability remains our primary focus, " said Ian Robertson, a member of the BMW Group Board of Management with responsibility for Sales and Marketing.
 
"Global demand for our premium models continues to grow in all vehicle classes," Robertson said.
 
The BMW Group unveiled on Oct 11 its Motorrad Vision Next 100 motorcycle, to mark the group's centenary under the motto, "The Next 100 Years".
 
The Motorrad Vision Next 100 aims to deliver an unparalleled riding experience, and its assistance systems anticipate danger and advise riders when action is needed, and intervene to keep them safe in the event of danger. The systems leave riders free to enjoy a pure and uninterrupted riding experience.
 
One of the motorcycle's key features is a self-balancing mechanism, which keeps it balanced, both while it is stationary and in motion.
 
BMW Motorrad's sales continued to grow through September, with a total of 12,215 units sold in the month. Sales in the first nine months of the year increased by 3.2 percent, with a total of 116,044 motorcycles and maxiscooters delivered.
 
Premium market expands
 
Volkswagen's high-end division, Audi, maintained its lead in the Chinese premium car market with an accumulated 440,233 units sold in the first three quarters.
 
The overall expansion rate of the premium car market in China reached roughly 20 percent this year, and its penetration rate touched a historic high in Beijing, Shanghai, Guangzhou and Shenzhen.
 
According to figures from LMC Automotive Consulting, roughly 26 percent of new car sales were comprised of premium models in the four major cities, thanks to the rapid growth of such locally-made entry-level crossovers as the Audi Q3, BMW X1 and Mercedes-Benz GLA.
 
John Zeng, managing director of LMC, told China Daily: "The 26 percent premium car penetration rate in the four cities has overtaken the mature markets in developed countries. Penetration rates are 16 percent on average in Germany, and 14 percent in the United States."
 
He added: "Now the premium market is driven by individual consumption, rather than business purchases, as in the past."
 
However, sales of super cars and sedans plummeted, which affected both the BMW 7 Series and Mercedes-Benz S Class.
 
The year-to-date sales volume of Mercedes-Benz in the Chinese market was only 34,385 units fewer than that of the BMW Group. Mercedes-Benz sold 344,791 units in the Chinese market in the first three quarters of this year, a 30 percent rise on the same period last year.
 
Jia Xinguang, a senior analyst with the China Automobile Dealers Association, said: "Mercedes-Benz's unique strength is in its dealership model, which includes having (leading auto retailer) Lei Shing Hong Ltd as a major seller of its vehicles.
 
"Lei Shing Hong was courageous enough both to invest 1 billion yuan in its training center and to bet everything on Mercedes-Benz."
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BRICS to step up economic cooperation www3.nhk.or.jp

The 5 so-called BRICS economies have agreed to step up cooperation in a bid to forge closer business and trade ties.
 
The top leaders of Brazil, Russia, India, China, and South Africa ended a 2-day summit in the southern Indian city of Goa on Sunday.
 
Indian Prime Minister Narendra Modi said in writing that the leaders discussed what the BRICS nations can do to be the driving force for the world economy.
 
They adopted a joint statement which focuses on stepping up economic cooperation, including boosting infrastructure investment in each other's nations. The countries also plan to work together in trade, manufacturing, agriculture, and energy.
 
But the unity among the 5 nations is not quite solid. The Indian economy remains robust, while the rest are losing steam. India and China are divided over nuclear cooperation.
 
Observers have pointed out that the BRICS countries are losing their influence as a group. Their latest agreement on economic cooperation is seen as a way to boost their presence in the international community.
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The first 100 days of a government mongolianbusinessdatabase.com sourced from bloombergtv.mn

It is already been 100 days since the new government was established. The government recently approved a new 4-year program. For the first time, the government strategy includes steps on how to overcome economic difficulties in their program. For example, the government continues to urge consumers to buy domestic goods and products in order to support Mongolian producers. Prime Minister Erdenebat also presented his visit to Japan as another step toward supporting local businessmen. Furthermore, foreign relations policy will focus on building production in Mongolia. In addition, the government is intending to support domestic businessmen with tax policies.

Within the last 100 days progress was made in energy sector as well. The closing financing agreement on building a 50 MW wind power plant in Tsogttsetsii, Umnugovi was signed. The project will be financed for a total of 128 million dollars from EBRD, JICA, SB Energy and Newcom. Also, “Solar Power International” is constructing a 10MW solar power plant in Darkhan. The project is currently 65 percent complete and scheduled for completion by the end of the year. Additional power plant and cable network projects to be built aimag centers will be implemented by soft loans from the government of South Korea.

There are currently 68 projects in the energy sector, implementation of these projects will produce 20 times more energy than Mongolian national energy consumption. Currently, by implementing 5 of these projects the amount of produced energy will fully meet domestic demand and reach the maximum exporting volume.

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Dubai hosts IT fair for start-ups www3.nhk.or.jp

Dubai, in the United Arab Emirates, is hosting the largest IT fair in the Middle East. This year, hundreds of start-ups are pitching their technologies in a special exhibition.
 
The emirate has a strategy of investing in venture firms and business innovation, to make up for the lack of income from energy resources.
 
The first-ever exhibition for start-ups has drawn 400 firms from 60 countries. Seven are from Japan.
 
One of them is displaying a humanoid robot that can mimic users' facial expressions. Developers said they can also make the robot copy human body movements.
 
Another Japanese venture has drawn attention for its software that can manage highly detailed physical data of athletes. It is already holding business talks with a local firm.
 
An official of JETRO, the Japan External Trade Organization, said Dubai is eager to foster venture firms, and is a promising market for Japanese technology.
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Thai economy faces uncertainty after King’s death www.rt.com

The recently deceased King Bhumibol Adulyadej was a guarantee of Thailand’s economic stability, despite weak growth and weak investment. Analysts at Capital Economics have raised concerns the Thai economy may now face some turbulence, but others disagree.
"The highly revered king has been an important unifying figure in the country," said London-based Capital Economics.
 
"The king has helped add some legitimacy to the current military government. Without him, there are a number of times over the past decade where the country could have been plunged into civil war," the analysts added.
 
The 88-year old king ruled Thailand for seven decades.
 
Thailand has been suffering from weak growth and lack of investment. With possible political turmoil on the horizon, the country’s safe haven of tourism may be hit as well.
 
“The lack of investment is undermining the economy's future productive capacity. The bottom line is that it is difficult to be upbeat about Thailand's medium-term outlook until the political picture becomes clearer," analysts said.
 
According to the World Travel and Tourism Council, tourism makes up 10 percent of the Thai economy and employs 5.4 million people.
 
On Friday, however, the Thai baht was strengthening against the dollar, trading 0.38 percent higher. Thailand’s SET index was ailing this week on reports of the king’s worsening condition, got a boost on Friday, up over 4.5 percent.
 
Other analysts say the transition of power in Thailand will be quick and won’t hurt the economy.
 
"We expect the royal succession to designated heir Crown Prince Maha Vajiralongkorn will be stable and that market volatility around the king's death will not be long-lasting," Eurasia Group said.
 
The impact on the investment environment will be "relatively minor" and won’t last more than 100 days of mourning, it added. Thai companies are likely to postpone launches of new projects for the period, according to Eurasia Group.
 
"We have only seen two or three days of net outflows from the local equity and bond markets and the sizes are not very big," said Singapore-based Nordea Markets' chief analyst Amy Yuan Zhuang. She added however the outflows could grow.
 
Although bars could remain closed for a few days, airports will not be shut down, and things will return to normal quite soon, according to an officer at a Western embassy in Bangkok, quoted by Reuters.
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ZTO Express eyes largest Chinese company U.S. IPO since Alibaba www.reuters.com

Logistics company ZTO Express has set terms for what could be the largest U.S. initial public offering this year and also the biggest by a Chinese company after the $25 billion IPO of e-commerce giant Alibaba Group Holding Ltd (BABA.N) in 2014.
 
ZTO's IPO later this month, which could raise as much as $1.5 billion, is the latest example of a Chinese company seeking to capitalize on its growth prospects to lure Western investors, while also avoiding the red tape associated with launching IPOs in mainland China.
 
China is the world's largest express delivery market, with 21 billion parcels delivered in 2015, according to market research firm iResearch, cited in the IPO prospectus of ZTO. This is approximately 1.5 times the total parcel volume of the United States.
 
ZTO said in a regulatory filing on Friday that it expected to sell 72.1 million American depositary shares in the range of $16.50 to $18.50.
 
Sources close to ZTO told Thomson Reuters publication IFR earlier this year the company was eyeing a U.S. listing for a faster completion and to make it easier for existing shareholders to monetizes their stakes.
 
A consortium of investors including Hillhouse Capital Management Ltd of Hong Kong and private equity firm Warburg Pincus LLC invested in the company in 2015.
 
Founded in 2002, ZTO is a major player in China's quickly expanding e-commerce market. It delivers parcels for Alibaba and JD.com Inc (JD.O), among others.
 
ZTO delivered roughly 14 percent of all parcels in China last year, according to its IPO prospectus.
 
Sales of ZTO jumped to RMB 6.1 billion ($915.8 million) in 2015, up from RMB 3.9 billion in 2014. Its net income was RMB 1.3 billion ($200.4 million). It has roughly 7,700 network partners and 74 sorting hubs.
 
ZTO will use the proceeds from its offering to buy more trucks, expand capacity through the purchase of land, facilities and equipment and for other general corporate purposes.
 
ZTO intends to list on the New York Stock Exchange (NYSE) under the ticker ZTO.
 
Morgan Stanley (MS.N) and Goldman Sachs Group Inc (GS.N) are the lead IPO underwriters.
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UK economy 'faces prolonged weakness', Item Club report says www.bbc.com

Britain's economy faces a "prolonged period" of weaker growth as consumer spending slows and business curbs investment, according to a report.
Although the EY Item Club think tank predicts the economy will grow 1.9% this year, it expects that performance to fizzle out as inflation rises.
The economy's stability since June's Brexit vote was "deceptive", EY said.
Meanwhile, a senior Bank of England official told the BBC that inflation may surpass its 2% target.
In an interview to be broadcast on Monday, the Bank's deputy governor Ben Broadbent told Radio 5 live that sterling's weakness would fuel inflation, but that controlling prices with tighter monetary policy could hit growth and jobs.
The dilemma facing policymakers was underlined in the Item Club report.
It expects inflation to jump to 2.6% next year before easing back to 1.8% in 2018. That will cause growth in consumer spending to slow from an expected 2.5% this year to 0.5% in 2017 and 0.9% the year after, the report said.
Business investment is also forecast to fall due to uncertainty surrounding Britain's future trading relationship with the EU, dropping 1.5% this year and more than 2% in 2017.
EY predicts that the impact of weaker consumer spending and falling investment will cause UK GDP growth to drop sharply to 0.8% next year, before expanding to 1.4% in 2018.
Vulnerable sectors
Peter Spencer, chief economic advisor to the EY Item Club, said: "So far it might look like the economy is taking Brexit in its stride, but this picture is deceptive.
"Sterling's shaky performance this month provides a timely reminder that challenges lie ahead. As inflation returns over the winter it will squeeze household incomes and spending.
"The pressure on consumers and the cautious approach to spending by businesses mean that the UK is facing a period of relatively low growth," he said.
The report said that exporters will benefit from the depreciation of sterling, which last week tumbled against a basket of currencies. Exports will increase by 4.5% in 2017 and 5.6% in 2018, EY forecast.
But Mr Spencer did not expect this to be enough to offset a wider slowdown.
"With activity in the domestic market flat, GDP growth will become heavily dependent upon exports next year," he said.
'Undesirable consequences'
"But once the UK has left the EU certain sectors, such as aerospace, automotive, and chemicals that trade extensively with the EU will be a lot more vulnerable and may need to be supported by subsidies and more robust industrial policies," he said.
Some of the economic challenges were spelled out in Mr Broadbent's BBC interview with 5 live's Sean Farrington.
The deputy governor, echoing remark's by the Bank's governor Mark Carney last week, said that letting inflation run ahead of the 2% target might ensure the economy does not suffer.
Tighter monetary policy to meet the target could lead to "undesirable consequences" such as lower growth and higher unemployment, he said. It's a "trade off", he added.
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