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

NEWS

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Nearly half of foreign businesses in Hong Kong are planning to relocate www.cnn.com

New York (CNN Business)Foreign businesses have for decades reaped the benefits of setting up shop in Hong Kong, a historically stable, expat-friendly finance hub at the doorstep of mainland China.
But lately, as Beijing has tightened its grip on the former British colony, those firms are increasingly eyeing the exits.
Nearly half of all European businesses in Hong Kong are considering relocating in the next year, according to a new report. Companies cite the local government's extremely strict Covid-19 protocols that mirror those on the mainland.
Among the firms planning to leave, 25% said they would fully relocate out of Hong Kong in the next 12 months, while 24% plan to relocate at least partially. Only 17% of the companies said they don't have any relocation plans for the next 12 months.
The city's "zero Covid" strategy led to severe consequences for businesses and residents, the report from the European Chamber of Commerce said. Hong Kong's "biggest advantage" — its global connectivity and proximity to mainland China —"has been almost completely disabled," the Chamber said.
Hong Kong's quarantines are notorious among residents and expats. At one point, the government required most inbound travelers to self-isolate in hotel rooms, on their own dime, for three weeks, one of the world's longest isolation periods.
Although Hong Kong officials recently lifted flight bans and scaled back the city's quarantine requirements down to seven days, an exodus is already playing out.
Last week, Hong Kong Chief Executive Carrie Lam acknowledged that the protocols were eroding residents' satisfaction with the city, saying she had a "very strong feeling that people's tolerance is fading."
The European survey released Thursday tracks with a similar report from the American Chamber of Commerce in January, which found that 44% of expats and businesses are likely to leave the city, citing Covid-related restrictions.
"Hong Kong still holds business opportunities but an array of issues, especially draconian travel restrictions and worsening US-China relations, weigh on sentiment," the US report said.
For some, the travel restrictions have proven to be a final straw after years of watching Beijing encroach on Hong Kong's policy.
Even without the Covid crisis, headhunters were having trouble bringing talent to Hong Kong because of Beijing's growing oversight of the semiautonomous territory. Massive and at-times violent protests prompted by a Beijing-imposed extradition bill plunged the city into a political crisis in the summer of 2019. A year later, as Covid-19 restrictions kept protesters at bay, China passed a wide-ranging national security law that broadly curtails free speech rights in Hong Kong.
More than 80% of US firms in Hong Kong said they had been impacted by the national security law, according to the American Chamber of Commerce report. Nearly half saw staff morale take a hit and said they lost employees who decided to emigrate.
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JMC Projects India representatives visit Mongolia Refinery State Owned LLC www.montsame.mn

Representatives of JMC Projects India led by the company’s CEO & Managing Director Shailendra Kumar Tripathi visited Mongol Refinery State Owned LLC and became acquainted with the implementation of the Oil Refinery Project.
The construction of oil refinery will be consisted of four parts - engineering, procurement, and construction. In 2020, JMC Projects India has been selected as a general contractor in charge of the first phase of the oil refinery construction, specifically, the development of the refinery’s non-technological facilities and construction site infrastructure. The company will construct an administration building, warehouse, repair facility, fire safety, and first aid units, laboratory, and water supply system of the refinery which is planned to be commissioned in 2024.
At the meeting held during the visit, the sides exchanged information and views on the progress of the construction and issues that need to be resolved.
The oil refinery will consist of 12 main facilities, including seven facilities for processing oil. As of currently, agreements are being established with the selected US and Western European petrochemical concerns, reports Mongolia Refinery.
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The war of aggression against Ukraine and its implications www.eeas.europa.eu

Op-Ed by the Ambassadors of the European Union and its 27 Member States, and the Ambassadors of Norway and the United Kingdom.
24 February 2022 will be marked in history books as the day when Russia brought war back to Europe. Russia’s unprovoked and unjustified invasion of Ukraine grossly violates international law and the principles of the UN Charter and threatens world peace as well as European and global security and stability. It is inflicting unspeakable suffering on the Ukrainian population.
Russia has violated the sovereignty and territorial integrity of an independent State that did not pose any threat, and to which Russia had given guarantees of security in the 1994 Budapest Memorandum. Russia must immediately cease hostilities and withdraw its military from the territory of Ukraine. Such use of force and coercion has no place in the 21st century. This is not “Russia’s war against the West”; it is “President Putin’s war against international law and global peace”.
Words matter. This is called by Russia a Special military operation so that the military does not have to inform the families of fallen soldiers (though by now hundreds of mothers of soldiers know they lost a son in a senseless war). It is nothing but a premeditated invasion by Russia.
Russia, and its accomplice Belarus, bear full responsibility for this war of aggression and those responsible will be held to account for their crimes, including for indiscriminately targeting civilians and civilian objects. Cluster munitions and thermobaric weapons have been used by Russian forces against civilian population in violation of international law.
We commend the people of Ukraine for their courage in defending their country and our shared values of freedom and democracy. Just as Mongolia, Ukraine has chosen thirty years ago a path of democracy and open economy, and has every right to choose their own alliances. We will not leave them alone. The European Union and its Member States and partners will continue to provide coordinated political, financial, material and humanitarian support. We are committed to provide support for the reconstruction of a democratic Ukraine once the Russian onslaught has ceased. We are determined to increase even further our pressure on Russia and Belarus.
The Russian military aggression has created a humanitarian catastrophe resulting in the killing of civilians and in millions of displaced people and refugees. The European Union and its Member states and partners are providing humanitarian aid and civil protection assistance to all refugees from Ukraine including third country nationals. This is truly an all-European act of solidarity joined by members as well as non-members of the EU. Mongolian nationals themselves had to be evacuated in an emergency, with the help of the Government of Mongolia. We are committed to providing help to all those affected without discrimination.
We have adopted significant sanctions and remain ready to move quickly with further sanctions. Measures announced by the European Union have been very closely coordinated with partners and allies. Over forty countries have so far partially or completely aligned with our sanctions. This is testimony to the determination of the global community to reject this military aggression. The aim of the European Union sanctions is to undermine the capacity of President Putin’s regime to continue the war. Sanctions affect the Russian people, but they are not the target. This is a war decided by President Putin, not by the Russian people.
Stopping this aggression and addressing its negative impacts on security and the global economy requires a collective mobilisation as seen recently at the UN General Assembly. We are ready to work with Mongolia to sustain the international mobilisation to end this war.
Russia’s resorting to disinformation and gross manipulations of the facts is a weapon directed towards all of us. Mongolia is equally exposed. Its free and independent media has every possibility to provide the public with independently sourced information. Europe is mobilised to debunk Russian propaganda (EUvsDisinfo.eu).
The European Union is a responsible global actor and we will continue to engage actively with all countries/partners on issues such as the COVID pandemic, climate change, international connectivity, non-proliferation, crisis management, and other important bilateral and multilateral issues
The war of aggression that President Putin has started, will have an adverse impact on many countries in the world, particularly countries, like Mongolia, that are heavily dependent on imports of food, fertilisers and energy We are already coordinating our efforts with Mongolia’s authorities and businesses to avoid collateral damage of the war on the economy.
Let us be clear on one point: the negative impact on fuel prices, agricultural commodity prices, which we are seeing already, are the result from the Russian aggression and military activities on Ukrainian soil, not from European Union sanctions.
We call on Mongolia, as a respected member of the international community, a dedicated member of the United Nations for 60 years, and a full member of the Organisation for Security and Cooperation in Europe (OSCE), to join us in our calls for an immediate ceasefire as an essential precondition to establish humanitarian corridors. These corridors must be unconditionally and be respected from all sides.
Stop this war. Freedom will prevail. We stand with Ukraine.
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Putin Orders Europe to Pay Rubles for Russian Gas www.themoscowtimes.com

Russia will force Europe to start paying for gas supplies in rubles, President Vladimir Putin said Wednesday in televised remarks.
“I have decided to implement a set of measures to transfer payments for our gas supplies to unfriendly countries into Russian rubles,” Putin said, ordering the changes to be implemented within a week.
The measures are part of Russia’s response to the West’s unprecedented sanctions leveled on Moscow in response to the attack on Ukraine.
Russia deems all countries that have hit it with sanctions following its invasion of Ukraine as “unfriendly.”
Europe imports around 40% of its natural gas from Russia, with contracts typically priced in euros. Russia’s gas exports to “unfriendly” countries came in at around $50 billion in 2021, according to an estimate by Loko Invest.
“It doesn’t make sense to deliver our goods to the EU or U.S. and receive payments in dollars or euros,” Putin said in the meeting with government officials.
The move was met with pushback Wednesday evening from some of Russia's key gas customers, including Germany, Austria and Italy.
Berlin said Russia's demands constitute a breach of contract, while Vienna and Rome both said they would continue paying for Russian gas in euros, citing Moscow's attempt to skirt the impact of sanctions.
"The announcement of paying in rubles is ... a breach of the contract and we will now discuss with our European partners how we would react to that," said German Economy Minister Robert Habeck, whose country imported 55% of its natural gas from Russia before Moscow invaded Ukraine.
Analysts see Putin’s move as Moscow’s attempt to put pressure on Europe over its sanctions — or “turn the tables on the EU,” as Elina Ribakova, deputy chief economist and sanctions expert at the Institute of International Finance, said.
In sanctions on Russia’s Central Bank, the West has frozen almost half of Russia’s international reserves — some $300 billion that Moscow had seen as its anti-sanctions insurance policy, huge funds that could be used should it be cut out of the financial system.
If Putin’s order is implemented, Europe would have to buy hundreds of millions of euros’ worth of rubles every day to pay for its substantial gas deliveries. From Russia’s perspective, that would provide an inflow of much-needed hard currency and boost demand for the beleaguered Russian currency.
But transactions could prove tricky for Europe as many Russian state banks, including the Central Bank itself, are under sanctions which prohibit direct transactions.
“He is basically trying to get Western countries who sanctioned the Central Bank to transact with it,” said analyst Timothy Ash. “But this will just make it more difficult to transact with Russia for energy supplies.”
The Russian ruble, whose value cratered in the wake of the sanctions, jumped on Putin’s announcement, strengthening by almost 4% against the U.S. dollar in trading in Moscow. Prices for gas in Europe rose 8%.
Russia is currently requiring exporters to sell 80% of their hard currency earnings — effectively using its extensive export earnings to replace the Central Bank’s frozen reserves and stop the Russian ruble from falling even further.
Maria Shagina, a visiting senior research fellow at the Finnish Institute of International Affairs, branded the announcement an “unexpected turn from the Kremlin.”
“I tend to think this is another bluff. Receiving hard currency from hydrocarbons is much more important now than forcing all ‘unfriendly’ countries to purchase rubles,” she told the Moscow Times.
Some analysts also questioned whether switching the payment currency would be permitted under existing contracts signed between Gazprom, Russia’s monopoly gas exporter, and customers in Europe.
“The very tight gas market will force European customers to abide by this. There is a lack of alternatives: buy rubles or stay without Russian gas,” said Shagina.
Europe has come under heavy pressure to stop buying Russian oil and gas — a key source of income for the Russian economy — since the invasion of Ukraine began.
Moscow has also sought to use energy prices to pressure Europe, with several politicians, including Putin himself, saying Western sanctions have created a cost of living crisis in the West by way of soaring energy prices.
AFP contribued reporting.
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U.S. investment to increase Ulaanbaatar’s water supply by 80 percent www.news.mn

Michael Klecheski, the U.S. Ambassador to Mongolia stated that “…The Mongolia Water Compact is among the largest single investments that the U.S. has made to the region’s, and will increase Ulaanbaatar’s water supply by 80 percent.
MCA-Mongolia is implementing the $350 million Mongolia Water Compact signed between the Government of Mongolia and the Millennium Challenge Corporation (MCC), aiming to comprehensively address water-related issues and to provide sustainable bulk water supply solutions for Ulaanbaatar. The Compact will also make a great contribution to the protection and environmentally friendly use of groundwater resources through reducing industrial wastewater pollution, introducing recycled water use to the combined heating and power plants, which are Ulaanbaatar’s largest industrial consumers of groundwater, and promoting sustainable use of water.
The Government of Mongolia and the U.S. Millennium Challenge Corporation signed the $350 million Mongolia Water Compact on July 27, 2018. The Compact is funding major infrastructure projects, including the construction of new wellfields and two large plants – an Advanced Water Purification Plant and Wastewater Recycling Plant which will be the first of their kind in Mongolia. In addition, the Compact will invest in policy measures to create a financially and environmentally sustainable future for the water sector of Ulaanbaatar. By 2026, the water system in Ulaanbaatar will have been expanded to deliver 80% more drinking water, allowing for the city’s future expansion.
 
 
 
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Mongolia raises interest rate to 9 percent to fight currency slide www.news.mn

Today (24 March), Mongolia’s central bank has lifted the country’s key interest rate by 2.5 percentage points to 9 % in a desperate move to halt the home currency’s decline amid Russia-Ukraine crisis.
Four days after Russia invaded Ukraine on February 24, the governor of the Bank of Mongolia (BoM), B.Lhagvasuren, told reporters that the national lender boasted USD 4.3 billion in reserves as of the start of 2022, and that the reserves were more than enough to cover seven to eight months. Yet there have been instances of bank customers blocked from making foreign payments of more than MNT 4 million (less than USD 1,700) and prevented from obtaining more than USD 1,000 per day.
Customers were informed by their banks that the central bank had set limits on foreign exchange transactions. However, the BoM suggested that individuals banks may have set their own limits on the amount of dollars that can be withdrawn, taking account of their internal reserves.
The Ukraine crisis is putting Mongolia’s economy to crisis. Inflation has hovered around 13 percent since January and in February it topped 14 percent. Since the start of the Ukraine war, the Mongolian Tugrik has dramatically fell against US Dollar from USD 2,842 to USD 3100.
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Mongolia reports 55 new COVID-19 cases www.akipress.com

Mongolia reported 55 new cases of COVID-19 infection, including 45 in Ulaanbaatar and 10 in regions, the Health Ministry said on March 24.
93 hospital patients are in mild condition, 253 are in moderate condition, 57 are in serious condition and 19 are in very serious condition.
No new deaths from COVID-19 were reported in the country during the past day. The death toll stands at 2,108.
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Government to support central bank’s policy on maintaining foreign exchange reserves www.montsame.mn

The Cabinet discussed how the Russia-Ukraine crisis has been affecting Mongolia's economy at its regular meeting on March 23, reported Minister of Finance B.Javkhlan.
“At each of the Cabinet meetings, corresponding ministries have been presenting possible ways to keep the negative effect caused by the Russia-Ukraine conflict at a minimum. Sanctions that have been imposed against Russia are also indirectly affecting the situation in our country to a certain extent.
As it may affect our economy through several channels, the first issue at hand is foreign trade. Petroleum makes up 75 percent of the products being imported from Russia.
Rosneft is currently supplying petroleum products according to the agreement. From our side, importers have been making their payments without any issue. As USD 180 million worth of petroleum has been purchased since February 24, we will put in efforts into continuing to keep this amount.
In terms of foreign policy, Mongolia continues to keep the same stance as when we voted to abstain during the recent UN resolution.
Furthermore, the policy on maintaining foreign exchange reserves and supporting exports will continue to be implemented."
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Adults to be involved in 19 types of medical checkups, with children involved in six www.montsame.mn

At a regular meeting of the Cabinet on March 23, Minister of Health S.Enkhbold did a presentation on the preparations underway for the works to be carried out to involve citizens in early-detection checkups from May 1.
Adults will be involved in 19 types of medical checkups.
The medical checkups that are being planned include the diagnosis of cardiovascular disease, diabetes, and tuberculosis, assessment of mental and general physical health, blood and urine tests, glucose, pap smear, hepatitis B and C, rapid tests for syphilis and HIV, electrocardiogram, endoscopy, gastroscopy, and ultrasound tests for the chest and abdominal areas as well as thyroid.
As for children up to the age of 18, they will be involved in six types of medical checkups. This will include diagnosis of non-infectious diseases, mental health assessment, dental checkup, eye exam, and tuberculosis test.
While an average of MNT 11.2-12.3 million is spent for the treatment of a single patient, it is estimated that costs are able to be significantly saved by annually involving citizens in MNT 150 thousand worth of tests and diagnosis.
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Iron ore price rises despite lockdown on China steel hub www.mining.com

The iron ore price rose on Wednesday despite the decision by top steelmaking city Tangshan to implement a temporary lockdown.
The Tangshan government implemented the lockdown on Tuesday to avoid further cases of covid-19 as infections surged, the local government said in a statement.
“Although consumption for steel products are relatively sluggish, production is also falling,” analysts with Huatai Futures wrote in a note.
The situation of tight raw materials inventories has not been reversed yet, which could further sustain steel prices, analysts added.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $145.49 a tonne on Wednesday, up 1.4% compared to Tuesday’s closing.
Steelmaking ingredients on the Dalian Commodity Exchange were mixed after falling more than 3% during the night session, with benchmark iron ore edging up 0.4% to 823 yuan a tonne.
“Due to transportation disruptions, most steel mills face raw material shortages … and there’s even possibility for production halt,” said Huatai Futures, noting that iron ore demand will be dampened.
($1 = 6.3743 Chinese yuan renminbi)
(With files from Reuters)
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