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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Cloud business boosts Microsoft's quarterly revenue, shares rise www.reuters.com

Sharp growth in its commercial cloud computing business helped lift Microsoft Corp's (MSFT.O) quarterly revenue above Wall Street's expectations, sending the technology company's shares up more than 4 percent in after-hours trading.
 
The new and growing cloud business - essentially selling computing services and storage in its data centers to corporate customers - is one of the priorities for Chief Executive Satya Nadella, who took the helm of the world's largest software company in early 2014
 
Nadella has refocused the company on cloud and mobile in the face of stagnation in its traditional PC-based Windows business.
 
"Only two companies are setting the tone of enterprise computing, Microsoft Azure and Amazon AWS," said Trip Chowdhry, managing director of Global Equities Research, referring to Amazon.com Inc's (AMZN.O) web services unit.
 
"These are the only two initiators in the whole enterprise space that are going to see growth in excess of 80 percent year-over-year for at least two or three years.”
 
Microsoft's revenue in what it calls its "intelligent cloud" businesses, which includes the Azure cloud platform and server software, rose 7 percent to $6.7 billion.
 
Revenue for Azure - which customers can use to host their website, apps or data - grew 102 percent, but Microsoft did not say what the actual revenue figure was.
 
That makes an annual "run rate" of $12.1 billion for cloud-related revenue, up sharply from over $8 billion a year ago. Microsoft calculates run rate by multiplying revenue in the final month of the quarter for its cloud businesses by 12.
 
Despite the surge in revenue, Microsoft is still struggling to increase profit in the capital-intensive cloud business. It said operating profit in its intelligent cloud businesses fell 17 percent to $2.19 billion in the quarter.
 
Microsoft said the drop was mainly due to higher research, development, sales and marketing costs, as it makes investments and acquisitions to "drive cloud sales capacity and innovation."
 
COMING OUT OF DIP
 
Overall, Microsoft posted revenue for its fiscal fourth quarter ended June 30, adjusted for some one-time items, of $22.6 billion, up 2 percent from a year ago. That beat Wall Street's average forecast of $22.1 billion.
 
It reported net income of $3.1 billion, or 39 cents per share, compared with a loss of $3.2 billion, or 40 cents per share, a year earlier. In the year-ago quarter it took a $7.5 billion charge to write down the value of its purchase of Nokia's handset business.
 
Excluding one-time items in the latest quarter, Microsoft reported earnings of 69 cents per share. That was ahead of analysts' average forecast of 58 cents.
 
Sanford Bernstein analyst Mark Moerdler said Microsoft is finally making headway shifting Microsoft Office software clients onto subscription-based cloud services. Office consumer products and cloud services were up 19 percent and Office 365 increased subscribers to 23.1 million during the quarter.
 
"People looked at Office as a product that was going to be in decline," said Moerdler. "We saw a dip, last quarter we came out of that dip, and now we're accelerating out of the dip."
 
Nadella, who announced the company's largest-ever deal last month, striking a deal to pay $26.2 billion for LinkedIn Corp (LNKD.N), has staked Microsoft's future on mobile and the cloud.
 
So far his plan has been well received by investors. Microsoft shares are up 64 percent since his predecessor as CEO Steve Ballmer announced his plan to retire, in August 2013. The S&P 500 is up 31 percent in the same time.
 
Microsoft shares were up 4.35 percent at $55.40 in extended trading on Tuesday.
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Russia to sell nuclear fuel to US www.rt.com

A subsidiary of Russia's nuclear corporation Rosatom has signed its first contract with a US nuclear power plant operator to supply Russian nuclear fuel.
 
"We believe in this project. We know how to make nuclear fuel; it has successfully operated in Western European nuclear power plants. We are not entering the American market with empty hands,” said Rosatom CEO Sergey Kirienko.
 
He added Rosatom is working in collaboration with GE-Hitachi and has already signed a contract to send a pilot batch of Russian nuclear fuel to the US.
 
According to Kirienko, Rosatom sees the importance of the alliance and will provide all the necessary technical details to successfully complete the licensing process with the US Nuclear Regulatory Commission.
 
It has been reported the two countries had agreed to create a joint company to promote Russian nuclear fuel at US nuclear power plants.
 
Rosatom's nuclear fuel subsidiary TVEL and Global Nuclear Fuel Americas will jointly deal with licensing and production of fuel assemblies that will run American nuclear power plants with pressurized water reactors. The fuel assemblies will be produced at the plant in Wilmington, North Carolina.
 
In May, Rosatom said it plans to enter the US nuclear fuel market by 2020 and have 10 percent market share.
 
Russia has a 17 percent share in the global market of nuclear fuel. It fully covers the needs of Russian reactors and also works in 14 other countries, including Finland, Bulgaria, Hungary, Slovakia, Czech Republic, Ukraine, Armenia and China. The value of Russia’s annual nuclear fuel exports exceeds $1 billion.
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Truckmaker Volvo beats earnings forecast, sees U.S. market weaken www.reuters.com

Swedish truckmaker Volvo (VOLVb.ST) reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping U.S. demand for commercial vehicles.

Heavy-duty trucks, where Volvo is competing with Germany's Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE), are benefiting from strong demand across Europe while battling downturns across the Atlantic.

Volvo, which sells trucks under the Mack, Renault and UD brands as well as its own name, scaled back its outlook for North America, saying it expected industry wide sales of 240,000 trucks, down from a forecast for 250,000 given in April.

Weaker markets in the United States and also China, where sales of construction equipment are falling, will test the new leadership team's skill in boosting profitability.

"In the second quarter we were able to continue the improvement of our underlying profitability despite declining sales, thanks to positive cost development," said CEO Martin Lundstedt, a former Scania boss appointed last year. Scania had long boasted some of the best profit margins in the business.

Gothenburg-based Volvo said order intake of its trucks fell 8 percent in the second quarter compared with a 1 percent drop seen by analysts. A 29 percent fall in North American truck orders led the decline.

Volvo shares rose 0.8 percent by 0756 GMT (03:56 a.m. EDT), outpacing a 0.7 percent fall in the in the STOXX Europe 600 Industrial Goods & Services Index .SXNP. The stock is up 12 percent so far this year compared with a 2 percent drop for the index.

"The earnings are really good, and what stands out is primarily the 10 percent operating margin in trucks despite them scaling back output in North America," Handelsbanken Capital Markets analyst Hampus Engellau said. "This is exactly what one wanted to see."

Lundstedt has come on board as Volvo begins reaping the benefits of a 10 billion Swedish crown ($1.17 billion) cost cutting drive intended to make the sprawling group less prone to sharp swings in profitability as cyclical truck markets periodically slump.

The group said adjusted operating earnings rose to 6.13 billion crowns from a year-ago 5.98 billion, beating a mean forecast for 5.64 billion in Reuters poll of analysts.

It reported adjusted operating margin of 7.8 percent compared with a year-ago 7.1 percent and the 7.0 percent seen by analysts.

"The results tells us that Volvo are on track to boost its earnings generation capacity also when demand is not great," said Danske Bank analyst Bjorn Enarson.

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Baidu uncovers trick gambling searches www.chinadaily.com

China's biggest online search engine, Baidu, said on Monday that it had notified police of illegally altered links that redirect users to gambling sites. The links had found their way surreptitiously into Baidu's search results at night.
 
For the past two months, a search after 10 pm for keyword "Grand Lisboa", a well-known casino in Macao, delivers top results linked to online gambling sites marked as commercial promotions. The search results will return to legitimate information about the casino after 9 am, Beijing News reported on Monday.
 
Baidu responded to the report with its own investigation.
 
"Baidu focuses on the credentials of the company registered for promotions. But the contents of promotional websites cannot be monitored in advance. So we make sure every website is screened as soon as they go live," said Gu Guodong, executive director of marketing at Baidu, during a press briefing in Beijing on Monday.
 
On average Baidu screens 470 million pieces of content every day, or 5,000 per second. Computers can eliminate 95 percent of the illegal information, but the rest must go through manual screening. The whole process can take up to four hours.
 
The Nasdaq-listed company admitted that it has to do more to improve the efficiency of such screening to prevent people from posting illegal promotional content.
 
Gambling is illegal on the Chinese mainland. Baidu blocked 8,623 gambling sites and 7,239 gambling-related keywords in the first three months of the year, the company said.
 
To bypass China's internet administration, illegal gambling sites steal the details of a legitimate company to use as registration information on Baidu. For example, eight gambling sites were registered in the name of a car parts dealer in Central China's Henan province, Beijing News reported.
 
A staff member at that company told the newspaper that they had no idea the company's registration information had been stolen and was being used for any sort of online promotion.
 
Baidu said it monitored the illegal activities from car parts company's stolen Baidu account. The gambling promotion appeared at 11 pm on June 25 and was removed by Baidu at 6 am the next day.
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Ms Park’s attendance in person lifts up importance of Mongolia-S.Korea business forum www.en.montsame.mn

Ulaanbaatar /MONTSAME/ In scope of the official visit of the S.Korean President Ms Park Geun-hye, a Mongolian-S.Korean Business Forum was held at Shangri La Hotel of Ulaanbaatar. South Korea is the fourth largest trade partner of Mongolia and the seventh in investment.

S.Korea’s businessmen have been running businesses in Mongolia of public catering, hotels, healthcare and information technology. The Business forum happened to reside in important times of launching of new projects on energy, particularly, in renewable energy.

Some 190 business representatives from the Republic of Korea and 200 businesspeople and state officials from Mongolia took part in the forum, held July 18, organized by the Chambers of Commerce and Industry of Mongolia and S.Korea.

Ms Park said: “Republic of Korea is a major manufacturer of latest technologies, whereas Mongolia leads the world with its natural resources”. Therefore, the two countries have broad capacity to counter-complement each other’s economy and widen the cooperation, she emphasized. President of the Chamber of Commerce and Industry of Mongolia B.Lkhagvajav expressed his confidence in the forum in its role of upgrading the bilateral business ties, and highlighted that Mongolian businessmen are now required to pursue the international standards while running their activities.

The attendance of S.Korean President Ms Park Geun-hye in person lifted up the significance and prestige of this business forum. The representatives of two sides gave seven presentations, and signed cooperation MoUs between companies. 

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Netflix price rises prompt subscribers to turn off www.bbc.com

Netflix shares fell sharply after the video streaming firm added fewer subscribers than expected ahead of US prices rises.
The company added 1.68 million users in the three months to June - well below its forecasts of 2.5 million.
Subscriber cancellations rose "slightly and unexpectedly" ahead of higher charges for existing users.
The numbers sent Netflix shares down 13% to $85.90 in after-hours trading in New York.
If that loss extends when Wall Street opens on Tuesday, the stock will have lost about a quarter of its value this year.
Netflix shares are often subject to big swings as investors bet on its drive to redefine global television viewing habits.
Wedbush Securities analyst Michael Pachter said: "The shares are down because their domestic subscriber growth slowed to a crawl ... and domestic profits fuel their international losses."
Netflix admitted that growth had slowed both in the US and international markets: "We are growing, but not as fast as we would like or have been."
Analysts estimate that about 20 million subscribers may be forced to pay between $1 and $2 more a month by the end of this year.Netflix said the increases were one reason why the company will add just 300,000 US subscribers in the three months to September - far fewer than the 880,000 added in the same period last year.
Revenue for the quarter rose 28% to $2.1bn, driven partly by Netflix's higher prices.
The streaming service, best known for shows such as Orange is the New Black, House of Cards and the Unbreakable Kimmy Schmidt, is now available in almost every country. However, it is facing competition from rival services such as Amazon Prime and Hulu.
Netflix also faces the challenge of localising or adapting its offerings to different countries and cultures.
It remains shut out of China due to what it called a "more challenging" regulatory environment.
The mainland does not yet permit streaming services from Disney or Apple either.
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Softbank shares slide 10% after ARM takeover www.bbc.com

Shares in Japan's Softbank have fallen 10% after being hit with a glut of sell orders following its purchase of ARM Holdings.

The £24bn ($32bn) deal for the UK chip designer is Softbank's biggest acquisition.

Investors could not react to the takeover on Monday as the Tokyo stock market was closed for a holiday.

Both the benchmark Nikkei 225 and broader Topix opened 0.7% higher after the long weekend.

Shares of Japanese games developer Nintendo jumped 10% on the continued success of its new augmented reality game Pokemon Go, which has proved to be a big hit globally.

Nintendo now has a bigger market capitalisation than Sony and luxury fashion house Hermes following its gains over the last week, according to Bloomberg data.

Meanwhile, the ASX 200 in Sydney was flat ahead of the release of minutes from the Reserve Bank of Australia's June meeting.

South Korea's Kospi is trading 0.3% lower in Seoul.

Hong Kong stocks opened 0.3% lower on profit-taking while the Shanghai Composite Index fell 0.1%.

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G20 to discuss Brexit fallout www3.nhk.or.jp

Finance ministers and central bank chiefs from the Group of 20 economies will discuss ways to minimize the fallout from Britain's decision to leave the European Union.
 
The officials will hold their first meeting since the Brexit vote in the Chinese city of Chengdu on Saturday and Sunday.
 
The agenda is expected to include trends in financial markets, a US interest rate hike, and global risks such as the slowdown in China and other emerging economies.
 
The Brexit vote has sparked turmoil and uncertainty in markets. The Japanese yen surged against the dollar to its highest level in more than two and a half years as investors seeking safe haven bought the currency.
 
The International Monetary Fund has cut its growth forecast for the 19-member eurozone for the next year by 0.2 percentage points to 1.4 percent.
 
Japanese Finance Minister Taro Aso said last week that countries should do what they can to minimize the impact of the Brexit vote. But he said too many factors remain unclear. He said he first wants to listen to EU and British officials.
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Asian law associations' leaders to assemble in UB www.mongolia.gogo.com

The 27th Summit of the Presidents of Law Associations in Asia is to take place in Ulaanbaatar, Mongolia on July 21 and 22. This year’s POLA Summit will run discussions under topics “Independence of Constitutional Courts: Role of Lawyers and Law Associations” and “Mining and Improving Legal Capacity and Human Rights”.
The Mongolian Lawyers’ Association, joined POLA in 2014 is hosting its summit at home for the first time. The right to host this event was obtained in 2015 POLA Summit, held in Goa, India.
The POLA is a non-political organization, established in 1990 with an aim to protect interests of the lawyers of Asian and Pacific countries and to improve their professional responsibilities and legal education.
The 27th POLA Summit expects adoption of a declaration of privileges of the lawyers in the region.
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Bank of America second quarter profits fall 19% www.bbc.com

Bank of America reported a 19% slide in profit in the second quarter, as persistently low interest rates hurt the bank's loan business.
The bank made just $3.89bn (£2.93bn) in profit during the period between April and June, down from $4.8bn last year.
The results still beat analysts expectations, and Bank of America's shares rose 1.8%.
Profits across US banks have been hit by the Federal Reserve's low interest rate policy.
"We had another solid quarter in a challenging environment," said chief executive Brian Moynihan.
Bank of America opted to take a $1bn charge, in anticipation of customers refinancing their mortgages in the ultra-low interest rate environment.
The bright spot for Bank of America was its trading revenue, which rose sharply following the UK's vote to leave the European Union.
Revenue from the global trading division climbed 12% to $3.8bn for the quarter.
The bank also continued its strategy of cutting employee and branch numbers as a way to reduce costs. The number of staff fell by approximately 6,000, and the number of bank branches fell by 108.
Mr Moynihan said expenses were down 3%, to levels not reached since 2008.
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