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    

Events

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

NEWS

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Global trade shrinks in 2015 www3.nhk.or.jp

World trade registered negative growth in 2015 for the first time in 6 years.
 
The Japan External Trade Organization said in its annual report that the value of world trade last year was an estimated 16.4 trillion dollars. That's down 12.7 percent from the previous year.
 
This is the first decline since 2009, when the world economy was hit by the 2008 global financial crisis.
 
The decline is attributed mainly to a drop in the prices of resources. Trade value of mineral fuel, such as crude oil or natural gas, fell by 40.3 percent from a year earlier. Iron ore fell by 41.4 percent.
 
Slowdown of the emerging economies also affected global trade. Imports to Russia and China dropped respectively by 36.3 percent and 18.4 percent from the previous year.
 
JETRO officials say trade values of 22 economies as of the end of March this year also decreased from a year earlier. They expect little hope for a significant rise in world trade. The prices of resources remains at a low level and the stagnation in domestic demands continue in the emerging economies.
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Asia shares recoup losses as China hits seven-month top www.reuters.com

Asian shares inched back from one-year peaks on Monday as a rally in Chinese stocks helped offset news of Japan's economic growth slowing to a halt last quarter.
 
China's blue-chip CSI300 Index .CSI300 rose 1.3 percent to a seven-month high and Shanghai .SSEC added 0.9 percent amid talk more stimulus would be forthcoming from Beijing.
 
The need for further policy action in Japan was underlined by the subdued economic reading, leaving the Nikkei .N225 dithering either side of flat.
 
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS recouped early losses to stand steady. It has climbed almost 14 percent since late June when Britain's vote to leave the European Union unleashed a new wave of global policy stimulus, led by aggressive action from the Bank of England.
 
All this easing has pushed rich-world bond yields dramatically lower and driven investors to seek higher returns in longer-term debt and in emerging markets.
 
Yields on British 10-year gilts GB10YT=RR have more than halved to all-time lows of 53 basis points, having been up at 1.39 percent just before the Brexit vote.
 
That has pulled down rates right across Europe, with Spanish yields ES10YT=RR, for instance, falling over 60 basis points to break under 1 percent for the first time ever.
 
The plunge in returns on bonds has made equities look more attractive in comparison. The Dow .DJI, S&P 500 .SPX and Nasdaq .IXIC all made record closing highs last week for the first time since 1999.
 
The pan-European STOXX 600 index dipped a touch on Friday but that was from a seven-week high.
 
"After a period of strong gains, shares are due to take a breather," said Shane Oliver, head of investment strategy at AMP Capital.
 
"But after the consolidation, we expect shares to trend higher over the next 12 months helped by okay valuations, very easy global monetary conditions and continuing moderate global economic growth."
 
The same fundamentals should also underpin bonds.
 
"That said, the recent bond rally has taken yields to pathetic levels, leaving them at risk of a snapback," added Oliver.
 
PARSING THE FED
 
High on the U.S. calendar this week are inflation figures for July ECONUS and minutes of the last Federal Reserve meeting which might offer more clues on the chance of a rate hike by year end. There are also five separate Fed speakers on the docket this week.
 
U.S. retail sales growth was unexpectedly flat in July as consumers cut back on buying clothes and other goods, while the producer price index fell 0.4 percent in July, the biggest drop in nearly a year.
 
The European Central Bank releases minutes of its last meeting on Thursday, and should strike a dovish tone.
 
Investors have recently lengthened the odds on any Fed hike this year, with futures <0#FF:> implying around a 46 percent chance of a move in December.
 
That in turn has weakened the bullish case for the U.S. dollar and dragged it down against the euro, yen and a range of emerging market currencies.
 
Early on Monday, the dollar was flat at 101.30 yen JPY= and not far from important support around 100.80. The euro was steady at $1.1157 EUR= having held in a $1.1050 to $1.1230 range for last couple of weeks.
 
One outlier has been sterling, which has slipped steadily since the BoE's easing to stand at $1.2927 GBP= and ever closer to the post-Brexit trough at $1.2797.
 
In commodity markets, oil prices edged higher after boasting gains of 6 percent last week as Saudi Arabia's oil minister held out the chance of action to help stabilize the market.
 
Brent crude futures LCOc1 were up 31 cents on Monday at $47.28 a barrel, while U.S. crude CLc1 added 35 cents to $44.84.
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Sage software firm hit by data breach www.bbc.com

A data breach at large UK software company Sage may have compromised personal information for employees at 280 UK businesses, it is understood.
Police are investigating the breach and Sage is probing the "unauthorised access" of data by someone using an "internal" company computer login.
The information was accessed at some point over the past few weeks.
It is unclear whether it was stolen from the FTSE-listed firm, or merely viewed.
'First priority'
The company, which provides business software for accounting and payroll services to firms across 23 countries, says it is taking the breach extremely seriously.
The police are investigating and the Information Commissioner's Office (ICO), responsible for the enforcement of the Data Protection Act 1998, has been informed.
Sage has notified those businesses whose data may have been accessed and has advised them to look out for any unusual activity.
A Sage spokesperson said: "We are investigating unauthorised access to customer information using an internal login.
"We cannot comment further whilst we work with the authorities to investigate - but our customers remain our first priority and we are speaking directly with those affected."
Sage was founded in 1981 and now has more than 13,000 employees around the world.
The group has an annual turnover of £1.3bn, and is the only remaining technology stock on the FTSE 100.
If the ICO decides that Sage has been negligent there are a number of actions it could take, including criminal prosecution, non-criminal enforcement, or undertaking an audit at the firm.

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$60 iron ore price see Australia, Brazil lose market share www.mining.com

The import price of 62% Fe content ore at the port of Tianjin jumped back above $60 per dry metric tonne level on Friday according to data supplied by The Steel Index.

Against most predictions, year to date the price of the steelmaking raw material is up 44% and has surged 63% since hitting near-decade lows in December.

Trade data released earlier this week showed China, which consumes more than 70% of the world's seaborne iron ore trade, imported 88.4 million tonnes in July, the highest since December and up nearly 3% from a year ago. Shipments for the first severn months are now up 8.1% from 2015's record setting pace and on track to breach 1 billion tonnes for the first time.

The rebound in prices and Chinese demand for cargoes have encouraged miners to enter or re-enter the market and new research from the Singapore Exchange shows non-traditional players are increasing their share of the seaborne market.
Non-traditional supply could become stickier if hedging strategies at today's higher price are also adopted

The global trade of roughly 1.3 billion tonnes is dominated by Australian and Brazilian and low cost producers including Rio de Janeiro based Vale and Pilbara giants Rio Tinto and BHP Billiton have been crowding out not only domestic Chinese miners, but also other exporting nations including number three South Africa where iron ore output is down by more than a fifth in 2016.

Adrian Lunt, head of commodities research at SGX, says the second quarter "marked the first time in years that Australia and Brazil have seen a collective decline in seaborne iron ore market share."

Of the 10.7 million tonnes of Chinese iron ore import growth in Q2 relative to the firs three months of the year Australian supply rose by around 7.3 million tonnes, Brazilian supply declined by 5.3 million tonnes while supply from other regions rose roughly 8.8 million tonnes.

According to the note, regions ramping up iron ore exports in recent months have included India (first half exports were more than three times higher than the whole of last year), Iran, Peru, Mongolia, Russia, Indonesia and Malaysia.

Lunt adds that some non-traditional supply "could become stickier if hedging strategies at today's higher price are also adopted."

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McDonald's pressured to serve up global antibiotics ban www.bbc.com

A new online campaign is putting pressure on fast food giant McDonald's to impose a global ban on products from animals treated with antibiotics.
Scientists warn that treating livestock with antibiotics is leading to a rise in drug-resistant superbugs.
The charity ShareAction has called on consumers to email McDonald's chief executive Steve Easterbrook.
Last week, the fast food chain stopped using poultry treated with antibiotics - but only in its US restaurants.
ShareAction has called on McDonald's - which operates in more than 100 countries - to stop using chicken, beef, pork and dairy products that have been given antibiotics in all of its 30,000 stores globally.
'Superbugs'
Medical experts warn that the routine use of antibiotics to promote growth and prevent - rather than treat - illness in farm animals contributes to the rise of drug-resistant "superbug" infections. They are said to kill at least 23,000 Americans a year and represent a significant threat to global public health.
Scientists have warned the world is on the cusp of the "post-antibiotic era" after discovering in China in November 2015 bacteria resistant to the antibiotic colistin - the medication used when all others have failed.
It appeared to develop in farm animals before also being detected in hospital patients.

Fast food restaurants have become a focal point for change in the food industry by forcing suppliers to change their practices.
According to ShareAction, more than 70% of all antibiotics used in the US are given to livestock.
'Supersize their ambition'
In the UK, that figure stands at more than 50% according to the group.
"We hope this action will encourage McDonald's to supersize their ambition," said ShareAction chief executive Catherine Howarth.
McDonald's told the Reuters news agency that it was too early to set a timeline for phasing out the use of all meat and milk products from animals treated with antibiotics.
The company cited varying practices and regulations around the world as one of the difficulties, but added that it "continues to regularly review this issue".

Rival fast food groups are also under pressure to take action.
On Thursday KFC was the target of a petition from consumer groups that called on the chicken chain to stop using poultry products treated with antibiotics.
KFC has already said it will limit the use of human antibiotics in its chicken by next year.
However, critics claim the policy still allows for routine use of antibiotics by its chicken suppliers.
US burger chain Wendy's plans to stop using chickens raised with antibiotics by 2017 and also plans to set similar goals for pork and beef.
Antibiotics - what you need to know
Some infections are becoming almost impossible to treat because of the excessive use of antibiotics.
More than half of the antibiotics used around the world are used in animals, often to make them grow more quickly.
Scientists warned the world was on the cusp of the "post-antibiotic era" after discovering in China in November 2015 bacteria resistant to the antibiotic colistin - the medication used when all others have failed.
It appeared to develop in farm animals before also being detected in hospital patients.
In some cases, antibiotics are used in agriculture to treat infections - but most are used prophylactically in healthy animals to prevent infection or, controversially, as a way of boosting weight gain.
Using antibiotics as growth promoters was banned in the EU in 2006.
Such uses are more common in intensive farming conditions.
Antibiotics are most useful in cramped dirty conditions where infections are easier to spread, so more spacious and hygienic living conditions are one way to reduce the need for antibiotics.
There are also calls for greater investment in research for vaccines and for tests that can diagnose specific infections and a call for countries to agree on a banned list of antibiotics that would never be used in animals, because of their importance to human health.

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China's economic slowdown deepens www.bbc.com

Fresh economic data from China has added to a raft of indicators suggesting the world's second largest economy remains in the doldrums.
Both industrial output and retail sales fell short of expectations for the month of July.
The figures underline China's difficulty of transforming the economy away from factories and exports.
The data come just as economic growth had ever so slightly improved in the second quarter.
Earlier this week though, China's latest trade data had also pointed to a further slowdown.
A spokesman for the National Statistics Bureau said on Friday that the country's economy was still in a period of adjustment and facing downward pressure.
Retail sales were up by 10.2% in July compared with a year earlier - below forecasts and a fall from the 10.6% increase in June.
Economic transformation
Industrial output rose by 6% compared with the same period the previous year and was also weaker than analysts had expected.
Infrastructure spending as indicated by fixed asset investment also fell short of forecasts.
The National Bureau of Statistics pointed to flooding and high temperatures as the part of the reason.
Beijing's aim to rebalance the economy towards domestic consumption has lead to major challenges for large manufacturing sectors with layoffs, especially in heavily staffed state-run sectors such as the steel industry.
Even alternative gauges, such as cinema ticket sales, have recently indicated that consumer spending is not picking up as much as China would hope it to.

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Asia rises on Wall Street's record highs, China data misses forecasts www.reuters.com

Asian stocks inched up on Friday, after a surge in oil prices helped propel Wall Street to record highs overnight, while Chinese economic indicators that missed expectations did not dent gains in mainland shares.
 
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS nudged up 0.2 percent. It was on track to gain 1.9 percent for the week.
 
Both China's CSI300 index .CSI300 and the Shanghai Composite .SSEC rose about 0.5 percent after fixed asset investment, retail sales and industrial output all rose but were below expectations. Both indexes were headed for gains of about 1.4 percent for the week.
 
Fixed asset investment from January to July increased by 8.1 percent from a year earlier, the slowest rate in more than 16 years, compared with expectations for 8.8 percent.
 
July retail sales increased 10.2 percent, versus 10.6 percent the previous month and a forecast 10.5 percent. Industrial output rose 6.0 percent from a year earlier, slowing from June's 6.2 percent and just missing forecasts of 6.1 percent.
 
Hong Kong shares .HSI rose 0.7 percent and were at their highest in more than eight months.
 
Japan's Nikkei .N225 rose 0.7 percent on a slightly weaker yen, and is poised to end the week 3.7 percent higher.
 
South Korea's Kospi .KS11, which touched the highest level since July 2015, was little changed. Australian stocks gained 0.3 percent.
 
The S&P 500 .SPX, the Dow .DJI and Nasdaq .IXIC all closed at historic highs on Thursday for the first time since 1999 on higher crude oil and upbeat corporate results. [.N]
 
The pan-European FTSEurofirst 300 stock index .FTEU3 also jumped, climbing 0.85 percent to its highest close since late May.
 
MSCI's 46-country All World index .MIWD00000PUS held close to a one-year high touched overnight.
 
Supporting investor appetite for risk, oil prices climbed more than 4 percent overnight after a Saudi oil minister hinted at possible action to stabilize prices and triggered a round of buying. [O/R]
 
They retained that momentum on Friday, with U.S. crude futures up 0.5 percent at $43.72 a barrel CLc1, on track to gain 4.5 percent on the week.
 
Global benchmark Brent crude LCOc1 climbed 0.3 percent to $46.18, set to end the week 4.6 percent higher.
 
"Asia Pacific markets are set to finish the week on a high following strong leads from European and U.S. investors," wrote Michael McCarthy, chief market strategist at CMC Markets.
 
"Industrial commodities rose, led by oil, and overnight trading displayed 'risk on' characteristics despite the lack of an obvious trigger. Important data from China may change the course of the trading day."
 
Global markets will also sift through the string of U.S. data, notably retail sales, due later in the session for latest cues about the world's largest economy and whether it is robust enough to withstand further monetary tightening.
 
U.S. retail sales are expected to show a 0.4 percent monthly increase in July, according to the median estimate of 64 economists polled by Reuters. ECONUS
 
In currencies, the dollar rose after San Francisco Fed President John Williams told the Washington Post that the U.S. central bank should raise rates this year because of improving labor market conditions and the likelihood that inflation is heading higher.
 
The greenback inched up 0.1 percent to 102.035 yen JPY= after gaining 0.7 percent on Thursday, and is heading for a 0.25 percent weekly rise. The euro was steady at $1.11375 EUR= after losing 0.3 percent overnight.
 
The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 percent to 95.924, but was on track for a loss of 0.3 percent for the week.
 
The New Zealand dollar slipped 0.1 percent to $0.7202 NZD=D4 after surging on Thursday to $0.7351, its highest in more than a year after the Reserve Bank of New Zealand cut rates by 25 basis points to 2.0 percent, a smaller cut than some investors had expected.
 
The Australian dollar dipped 0.3 percent to $0.7678 AUD=D4.
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UB City and ADB sign agreement on “Establishing the Future Cities Program” implementation www.mongolia.gogo.mn

On August 11. the Administration of the Ulaanbaatar City and the Asian Development Bank (ADB) established a Memorandum of Understanding on implementing Establishing the Future Cities Program.
The MoU was signed by the Mayor of Ulaanbaatar S.Batbold and the Country Director of ADB for Mongolia Yolanda Fernandez Lommen. Establishing the Future Cities in the Asia and Pacific Region is a technical assistance program, being realized in five Asian countries.
In its scope, small projects aiming at promoting the Smart Ulaanbaatar program, improving local financing mechanism, and introducing international platform for endorsing infrastructural investment to Mongolia.
Mayor S.Batbold extended gratitude to the ADB for its consistent collaboration in the UB’s vital problems such as air and soil pollution, public transport and many others. “ADB has become one of the key partners of the UB City in the recent years”, he noted.
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Ikata reactor restarted www3.nhk.or.jp

The Ikata nuclear power plant in Ehime Prefecture, western Japan, has been reactivated for the first time in more than 5 years. It is the third plant to go online under new regulations issued after the Fukushima Daiichi nuclear disaster.

Operator Shikoku Electric Power Company restarted the plant's No.3 reactor at around 9 AM on Friday. It removed the control rods, which are designed to contain nuclear fission reactions.

The reactor is expected to achieve a self-sustaining nuclear chain reaction by Saturday morning if the process goes as scheduled.

The utility plans to begin electricity generation and transmission to the grid on Monday, and start commercial operation early next month.

The reactor had been undergoing final inspections after clearing the new government regulations last year.

It had been offline since a regular inspection one month after the 2011 nuclear accident in Fukushima. It was last rebooted in March 2010.

The utility says the plant's workforce includes personnel who have no experience operating a reactor, as well as veteran workers who have not rebooted a reactor for a long time.

The firm says it will spend more than 20 hours to achieve criticality of the reactor. That's 5 hours longer than the previous reboot.

Two reactors at the Sendai plant in Kagoshima Prefecture, southern Japan, have been operating since last year.

Two reactors at the Takahama plant in Fukui Prefecture, central Japan, were restarted earlier this year. But a court injunction has suspended their operation.

Applications for restarting 21 other reactors at 14 nuclear plants across Japan are being processed at the Nuclear Regulation Authority.

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Alibaba shows strong global growth www.bbc.com

China's Alibaba has seen a sharp increase in international sales, a sign that it is finally making strides outside its home turf.
Its latest results show international sales increased by 123% to 1.1bn yuan ($165m, £127m) between April and June.
However, that figure still made up just 4% of Alibaba's overall revenue.
The e-commerce giant, founded the billionaire Jack Ma, is a well-known name throughout China but has struggled to break into markets like the US.
"They have a lot of room for growth in China, but they need to look at other markets and think about the 10 to 20 year growth," said Hakon Helgesen, retail analyst at the consultancy Conlumino.
Tactics
The company, which is listed in the US, attributed a large portion of the increase in international sales to the purchase of Lazada - a Singapore based e-commerce firm. The deal was completed in mid-April.
Mr Helgesen said this represented a change in Alibaba's strategy from trying to build a presence in established markets like the US - where the company is competing against big name players like Amazon - to focusing on more embryonic markets, particularly in Southeast Asia, where e-commerce sales are large but the market is still developing.
"I expect it will continue to do this through acquisition and this will be more of a change in tactic and a long term decision," said Mr Helgesen.
Alibaba has expressed a clear desire to expand its presence internationally and plan for the next 10 to 20 years.
As growth in the Chinese economy flags, this expansion will be more important.
The company also reported the strongest earnings since it began selling shares on the stock exchange in 2014.
Revenue for the quarter rose to 32.2bn yuan from 20.3bn yuan last year.
Profit dropped by 77% from a year earlier to 7.1bn yuan, but last year's figures were flattered by a big gain from the company separating out its film business.
Mobile growth
Alibaba also increased the number of sales by mobile users. The number of Chinese users buying products on Alibaba through their mobile phones rose to 427 million from 410 million in the three months previous.
"We passed an important milestone this quarter in achieving higher monetization of mobile users than non-mobile users for the first time, reflecting the success of our strategy to stay ahead of the curve by embracing mobile," said Maggie Wu, chief financial officer.
Mobile growth has been a key metric for investors who were concerned about whether the company could make this transition.
On a call with investors after the earnings were released, Alibaba did not address an investigation by the Securities and Exchange Commission (SEC) into its accounting practice.
The SEC is looking into the data reported from Alibaba's Singles Day - its highly popular one-day shopping festival.
Alibaba is also facing a lawsuit from several international luxury brands accusing the company of not policing the sale of knock-off products on its site.
 
 
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