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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Russia lifts customs duty on electric cars www.rt.com

The Eurasian Economic Commission (EEC) has approved tax-free imports of vehicles equipped with electric engines. This will make buying an electric car in Russia about 15 percent cheaper.EEC is the body responsible for implementing decisions taken by the members of the Eurasian Economic Union (EEU) that includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
 
The duty on electric cars was cancelled in February 2014, but the exclusion was not extended when it expired earlier this year. The new amendment will come into effect in September and last till the end of August, 2017.The exclusion does not apply to any other cars, including hybrid and plug-in hybrid vehicles. Under the new regulation, customs duties on electric trucks weighing less than five tons have been reduced to five percent from fifteen percent.
 
“Scaling down the duties aims to encourage the use of eco-friendly transport within the boundaries of the Eurasian Economic Union and provide a background for developing the e-vehicle market,” said the EEC Trade Minister Veronika Nikishina. The minister stressed that more electric vehicles on the roads means it's necessary to make more charging stations available.Developing the domestic e-vehicles market and creating the necessary infrastructure will directly affect the decision to further extend the measure, according to the commission. The grace period won’t be prolonged in case local manufacturing of ‘green’ transport begins.
 
Earlier this month, the government introduced a wide-ranging program to encourage ‘green’ transportation in Russia. The initiative includes introducing reduced tariffs on toll roads, free parking in cities and canceling transport tax. E-car drivers will get the right to use bus lanes with energy providers to be able to build charging stations without bureaucratic hurdles. The program is intended to be implemented by 2025.
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BP says total Gulf spill bill $61.6bn www.bbc.com

BP said the final bill for the 2010 Gulf of Mexico oil spill will be $61.6bn (£46.2bn).
The company believes that any further claims related to the spill will "not have a material impact".
On 20 April 2010, the Deepwater Horizon drilling rig exploded in the Gulf of Mexico, killing 11 workers and causing an oil spill that soon became the worst environmental disaster in US history.
Since then BP has been paying hefty fines, compensation and legal bills.
Last year, chief executive Bob Dudley described the fire on the Deepwater Horizon and its aftermath as "a near death experience" for the firm.
He said it had shaken the company "to its core" and led to a complete change in its organisational structure.
"Sometimes it takes a near death experience to radically change a company. It was a forced focussing down of what we do, it was: 'This is what we need to do to survive'," Mr Dudley said on the BBC's Today Programme.
Greater certainty
The company sold off more than £30bn ($45bn) in assets to help cover the costs of the spill.
"Over the past few months we've made significant progress resolving outstanding Deepwater Horizon claims and today we can estimate all the material liabilities remaining from the incident," Brian Gilvary, BP chief financial officer said in a statement.
"Importantly, we have a clear plan for managing these costs and it provides our investors with certainty going forward."
In October of last year, BP agreed to pay $20bn (£13.2bn) to settle claims with the US government stemming from the spill.
That settlement was the largest the US government had ever reached with a single company.
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Lord Mayor aims to ease Brexit fears in Japan www3.nhk.or.jp

The Lord Mayor of the City of London is visiting Japan to ease concerns over the impact of the recent Brexit vote. The area of London known as The City is Britain's financial hub.
 
Jeffrey Evans was delivering a speech on Thursday at a seminar in Tokyo for Japanese corporate investors.
 
He called on Japanese people to continue doing business in the City and keep investing in Britain, even if the country leaves the European Union.
 
He said the City continues to offer a good business environment and has many experts on law and accounting.
 
Evans then visited the Tokyo Stock Exchange and talked with the CEO of the Japan Exchange Group, Akira Kiyota.
 
After the talks he said he wants Japanese companies to continue doing business in Britain.
 
In reaction to the vote for Britain leaving the EU, some Japanese banks based in London are considering moving their bases out of the country. They fear that their operations within the EU could be hampered.
 
Evans is scheduled to meet with executives of Japanese banks and securities companies on Friday.
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Kiev court rules Gazprom owes Ukraine $3.4bn in antitrust case www.reuters.com

The Supreme Economic Court of Ukraine has refused to consider Gazprom’s appeal on the $3.4 billion fine imposed against the Russian energy firm by Kiev authorities.In January, Ukraine fined Gazprom for what it called the abuse of its dominant position on the country's gas transit market.
 
The Ukrainian anti-monopoly committee insists Gazprom has reduced the volume of gas it transits through the country, undermining the transit contract with Russia. According to the terms of the agreement, Gazprom was obliged to pump about 100 billion cubic meters of gas in 2014 through Ukraine. Instead, the Russian company pumped only 62 billion cubic meters of gas. Kiev’s Naftogaz has estimated the lost revenue at $6 billion.
 
Gazprom says it does no business in the country, as it gives the gas to Ukraine at Russia's western border.
 
The Russian company called the actions of Ukraine "an attempt to exert pressure" and tried to challenge the penalty, but the lower courts for various reasons rejected the counter claims.
 
Russia and Ukraine have numerous counter claims over gas-related issues. Gazprom claims Ukraine's Naftogaz owes the Russian company $31.759 billion over failure to purchase the contracted amount of gas.
 
In return, Naftogaz is suing Gazprom for $25.7 billion. The Ukrainian state company is seeking $14 billion for alleged overpayments for gas, and $11.7 billion for Gazprom's alleged violation of the transit contract.
 
The next hearing on the case will most likely be in September in Stockholm.
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Economy expands at modest pace www3.nhk.or.jp

Officials at the US central bank say economic activity continues to expand at a modest pace, thanks to strong employment.
 
The Federal Reserve on Wednesday released the latest report on the country's economy for the period between mid-May to the end of June.
 
The Beige Book is based on responses from businesses and other sources in the central bank's 12 districts.
 
The report says overall consumer spending was positive, but there are signs of weakening, such as slower auto sales.
 
It says employment continued to grow modestly, and wages for skilled workers were on the rise.
 
But the report also referred to Britain's decision to leave the European Union as a downside risk.
 
Fed officials are scheduled to discuss policies based on the report, at a meeting in late July.
 
A growing number of market players believe the Fed will postpone another rate hike, as it is assessing the impact of Britain's exit from the EU.
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Yum Brands raises profits outlook ahead of China spin-off www.bbc.com

Yum Brands, parent company of fast-food chains KFC and Pizza Hut has reported sales of $3bn (£2.3bn) for the second quarter of 2016.
The firm raised its outlook for the full year, expecting a 14% increase in core operating profit.
Yum also said it was on track to spin off its China unit, aiming at October for the start of Yum China.
China is a key market for Yum and the company's shares jumped 4.6% in New York in after hours trading.
Sales in China, at restaurants open at least one year, rose by 6% in the first quarter of the year, up from a 2% increase for both the third and fourth quarters of last year.
"Our China division is off to a good start in the third quarter for both KFC and Pizza Hut Casual Dining, including a return to positive same-store sales at Pizza Hut Casual Dining in recent weeks," chief executive Greg Creed said in a statement.
Earnings in China had in the past been set back by a food safety scandal involving a meat supplier, as well as increased competition.
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Mongolia sees AEBF as opportunity to attract investment www.montsame.mn

Ulaanbaatar /MONTSAME/ The second-day session of the business forum began in the Great Chamber of the State House on July 14, bringing together some 700 representatives from 43 countries.
 
The officials consider the business forum as huge opportunity to attract foreign investment to national businesses.
 
State Secretary of the Ministry of Industry D.Nyamkhuu said: “It is a big opportunity to discuss commercializing the heavy and light industries on the global market and ways of government support on this issue with international delegates, and to take advises from prestigious businesspeople from around the world”.
 
The business forum is running discussions under four key topics: Developing participatory economy, Asia-Europe Connectivity, Connecting Small- and Medium-Enterprises to International Added Value Network, and Investment and Green Development.
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Venezuela’s oil output plunges to 13-year low www.rt.com

Crude production in Venezuela is at its lowest level since February 2003 as the economic crisis affects the country's oil industry, according to the monthly report from the International Energy Agency.“While Iran is clearly OPEC’s biggest source of supply growth this year, Venezuela is notching up the largest decline,” the report says.
 
Output fell to 2.18 million barrels per day in June, down 240,000 barrels per day from a year earlier. The agency expects a further drop of 200,000 barrels a day, doubling the deterioration it projected last month.
 
The country’s oil output fell by 120,000 barrels per day from April through June due to electricity cuts.
 
Venezuela is seen as the poorest OPEC performer with Saudi Arabia and Iran showing a steady boost and Nigerian and Libyan output recovering, according to an S&P Global Platts survey. The output from the cartel was 32.73 million barrels a day - the highest since August 2008.
 
The projected drop for the current year “looks unavoidable” for Venezuela as foreign oil service providers limited operations in the country with international contractors facing delayed payments as well as “daily operational challenges,” the IEA says.The drop in global crude prices has seriously wrecked the country’s economy. Some 95 percent of Venezuela’s export revenues come from oil. The price of the country’s crude currently stands at $39.6 per barrel, which is 61 percent lower than the $100.64 in June 2014.
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Fed's Harker now sees just up to 2 rate hikes this year www.reuters.com

The Federal Reserve could hike interest rates up to two times before year end, a top U.S. central banker said on Wednesday, slightly downgrading his expectations for monetary tightening even though he said the economy is on "fairly firm footing."
 
Philadelphia Fed President Patrick Harker, when he last spoke publicly in late May, predicted two to three rate increases this year. Since then U.S. jobs growth plunged one month and then shot back up the next, while Britons voted to leave the European Union.
 
Harker, who has been at the Fed for a year, downplayed any effects of the so-called Brexit referendum. He said first-quarter U.S. economic weakness was largely due to seasonal adjustments, and predicted both that inflation would hit a 2 percent target in 2017 and that the Fed would raise rates toward 3 percent by the end of 2018."Considering the economic projections, I anticipate that it may be appropriate for up to two additional rate hikes this year," said Harker, who does not vote on policy this year.
 
"Brexit is low on my list of risks, and I do not anticipate more than a transitory couple of 10ths of a percentage point slowdown in growth," he added in prepared remarks.
 
The Fed raised interest rates from near zero in December, its first policy tightening in nearly a decade. But it has kept its key rate steady at 0.25-0.5 percent since then as global markets and economic data have proven volatile.(Reporting by Jonathan Spicer; Editing by Leslie Adler)
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Queensland mining industry backs action to fix coal worker health screening www.mining.com

The release of the final report into the re-emergence of coal worker pneumoconiosis confirms that a health screening system thought to protect underground coal workers has failed.
 
The Queensland Government’s Mines Minister Dr Anthony Lynham today released the government’s response and plan following the review of the Coal Mine Workers' Health Scheme, headed by Monash University's Professor Malcolm Sim.
 
Queensland Resources Council Chief Executive Michael Roche said the final report was very sobering reading.
 
‘Industry, unions, government and of course coal workers were shocked last year with the discovery of multiple cases of pneumoconiosis after almost three decades,’ Mr Roche said.
 
‘Industry is appalled at the apparent failure across the spectrum of screening, from lung function tests, chest x-rays through to questions over the qualifications and expertise of those carrying out the testing and screening.’
 
So far, 11 Queensland miners have been diagnosed with pneumoconiosis, which is 11 too many, and the Monash University Review report suggests there may potentially be more cases.‘This is why we have to act quickly upon the recommendations in this report, and is the reason why eight underground coal mining companies have written a joint letter of support to Dr Lynham, backing a new protocol for health screening of coal workers,’ Mr Roche said.
 
‘QRC members are sprinting out of the blocks to help to do their part to action the recommendations that are within their powers.
 
‘Sadly, those companies thought they were doing the right thing for their workers’ health by having them regularly screened – tragically it was that very process that has been found to have repeatedly failed.
 
‘Prevention, through stricter mechanisms to protect workers from dust, and early detection via an overhaul of existing health screening practices and expertise are the beginning.
 
‘Industry is committed to working together to ensure dust levels remain under the appropriate limit.’
 
The Minister is to be congratulated for initiating a well-considered, comprehensive review using a broad range of experts and overseen by a tri-partite reference group from the spectrum of stakeholders and experts, Mr Roche said.
 
‘This report is a huge wake-up call and will result in essential changes to health screening, dust control and dust monitoring to ensure every one of the thousands of underground coal workers are protected into the future,’ Mr Roche said.
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