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

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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The climate crisis is looming large on Wall Street www.cnn.com

London (CNN Business)For all their environmental overtures, banks are still pumping billions of dollars into fossil fuel companies. That could become a high-priced habit, as regulators move to tighten rules around how lenders reflect climate-related risks in their accounts.
What's happening: The European Central Bank said last week that it will start conducting "in-depth" assessments of how bank balance sheets account for climate risks in 2022.
Banks will, for example, be expected to disclose how flooding and storms could affect the value of their real estate portfolios and customer supply chains, as well as take into account losses that could arise if businesses adjust their operations to be less carbon intensive.
"Ensuring that banks' balance sheets also reflect climate-related and environmental risks is a prerequisite not only for the resilience of the banking sector, but also for the accurate pricing of these risks," the ECB's supervisory arm said in a statement on Wednesday, adding that it will begin discussions with lenders on the new approach early next year.
It's a major sign that financial regulators are not going to leave climate supervision solely to governments — and with good reason.
See here: Oil majors BP (BP) and Shell (RDSB) provide a cautionary example of what can happen to asset values as a result of climate-related shifts in the economy. Both companies have written billions of dollars off their books this year because the pandemic has changed the trajectory for oil prices — and both are dramatically accelerating their move into cleaner energy as a result.
With that in mind, it's only a matter of time before America's leading investment banks, which are much bigger fossil fuel funders than their European counterparts, are forced to get a handle on their climate exposures.
The US Federal Reserve has already put lenders on notice. In a first, it directly addressed the implications of climate change for banks in this month's financial stability report, saying that better disclosure could improve the pricing of climate risks and avoid the kind of abrupt changes to asset prices that cause financial system shocks.
"Federal Reserve supervisors expect banks to have systems in place that appropriately identify, measure, control, and monitor all of their material risks, which for many banks are likely to extend to climate risks," the Fed said.
JPMorgan Chase (JPM), Wells Fargo (WFC), Citi (C) and Bank of America (BAC) top a list of global banks funding fossil fuel firms. Since 2016, the four banks have poured over $800 billion into companies in the coal, oil and gas sectors, according to a report by the Rainforest Action Network, an environmental group.
Some major banks have recently pledged to align financing with the Paris climate goals, but the details remain hazy and the sheer size of their exposures mean it'll be easier said than done.
Big picture: Aside from damaging the planet, climate change could lead to heavy losses at banks and threaten the stability of the financial system.
More than half the syndicated loans of major US banks are in sectors of the economy that make them vulnerable to the risks posed by climate change, according to sustainability non-profit Ceres. This extends beyond loans to fossil fuel companies and includes sectors such as construction, manufacturing and agriculture.
Investors weigh in: It's not just lenders that face a climate reckoning. Also last week, a group of global investors managing over $9 trillion in assets wrote to 36 of Europe's largest firms, including BP, Volkswagen (VLKAF) and Lufthansa (DLAKY), calling on them to address "missing" climate change costs in their accounts.
Companies were selected based on their exposure to decarbonization risks and were urged to prepare "Paris-aligned" earnings reports that reflect what climate change means for their business.
"It would not be consistent to emphasise climate risks in the strategic report but not consider these same risks in the accounts," the letter said. "If accounts leave out material climate risks, too much capital will go toward activities that put shareholder capital at risk. Worse still, this puts all our futures at risk."
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China must ban new coal power plants to meet 2060 goal – report www.bloomberg.com

China needs to immediately stop building new coal power plants and double wind and solar installations to put itself on a path to meet its 2060 carbon neutrality pledge, climate researchers said in a new report.
China’s coal power fleet, already more than 1,000 gigawatts strong, is underutilized and already includes dozens of redundant plants, researchers from Draworld Environment Research Center and the Centre for Research on Energy and Clean Air said in the report.
The country should aim to whittle its coal fleet down to about 680 gigawatts by 2030, instead of plans by some in the industry to expand it to about 1,300 gigawatts.
With solar and wind power quickly becoming as cheap or cheaper than coal, such an building spree could result in more than 2 trillion yuan ($304 billion) in stranded assets, said Zhang Shuwei, Draworld’s chief economist and the report’s lead author.
“A further expansion of the coal-fired power industry would greatly complicate this challenge, requiring a cliff-fall of coal power generation after 2030,” Zhang said.
The report comes two months after President Xi Jinping shocked the world by announcing in a United Nations speech that China will be carbon neutral by 2060, although Beijing has yet to lay out detailed steps on how the world’s biggest polluter will get there.
Draworld and CREA researchers said that to meet the goal, China needs to ban new coal plants immediately and also double the installed capacity of new wind and solar power to at least 100 gigawatts annually.
“There is no leeway to construct new long-lived fossil fuel infrastructure such as coal power, which would need premature retirement to meet China’s vision to achieve net-zero emissions,” the researchers said in the report.
(By Dan Murtaugh and Karoline Kan)
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Copper price soars to highest since 2014 on vaccine hopes www.mining.com

Copper price surged to a fresh two-year high on Friday following positive reports on covid-19 vaccine breakthroughs from Pfizer and Moderna.
On the Comex market, copper for delivery in December gained 3.1% to $3.3015 a pound ($7,276 a tonne) by mid-afternoon in New York. If copper closes above $3.30 it would be the highest level since January 2014.
The metal surged as much as 1.6% to $7,207.50 a tonne on the London Metal Exchange, to the highest since June 2018.
Pfizer and BioNTech SE plan to file for emergency use, allowing for the vaccine, which they say is 95% effective, to be used in the US in the next month.
Copper is heading for an eighth straight monthly gain, the longest run in almost a decade, as rebounding growth in China and signs of progress in developing a covid-19 vaccine buoy demand prospects.
Investors are also betting on a boost from spending on green infrastructure following the five-year plan hammered out by China, as well as alternative-energy initiatives outlined by US President-elect Joe Biden.
“Generally a strong week for industrial metals with vaccine news driving recovery hopes outside China where demand is already robust,” Ole Hansen, head of commodity strategy at Saxo Bank A/S, told Reuters.
“Positive news for the metals is compounding and copper is gaining momentum,” RJO Futures senior market strategist Peter Mooses told Bloomberg.
“Base metals have been driven by bullish news all around, and a vaccine is just what the market is looking for: a long-term solution to fears for further disruptions to a global recovery.”
Fear of supply disruptions
As coronavirus infections surge worldwide, fears of further near-term disruptions to supply are also fueling gains.
Peru’s currency fell to a record low over the last weekend amid political chaos and the largest protests in the capital Lima in decades. Experts have also warned that further upheavals threaten the fight against the coronavirus in the country, which, with a population of 32 million, has one of the world’s highest per-capita death rates from covid-19.
In a note, BMO Capital Markets said the unrest in Peru, the world’s number two copper producer behind Chile, while focused on the capital, could cause issues for copper concentrate logistics (plus other metals), should the situation escalate.
Workers at Lundin’s Candelaria in Chile pushed a strike into a second month, as operations remained at a standstill.
A worker´s union at Antofagasta Minerals’ Centinela copper mine in Chile is preparing to vote next week on a contract offer but says it will likely reject it, paving the way for a strike.
“As we see cases increase, we have to expect that further restrictions are not far behind,” ED&F Man Capital analyst Edward Meir told Bloomberg.
“The spreading virus could be raising fears that mining operations will again be halted, fueling this supply premium.”
(With files from Reuters and Bloomberg)
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Over 11,000 donated sheep from Mongolia arrive in Wuhan www.chinadaily.com.cn

The first batch of 11,267 sheep from Mongolia's total donation of 30,000 sheep have recently arrived in Wuhan, Central China's Hubei province, the area hit hard by the COVID-19 earlier this year, Hubei provincial department of commerce said on Friday.

The department on Friday afternoon held a welcoming ceremony for the arrived sheep. Qin Jun, the department director, said Hubei people have happily received the warm gifts and expressed appreciation for Mongolian government and people.

He said the Hubei Provincial Party Committee and provincial government have decided to distribute the sheep to front line workers and their families as a token of thanks for their contributions in the fight against the COVID-19.

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"Cashmere, Wool, Fur & Leather 2020" online expo/ face-to-face B2B meetings

We are inviting all kinds of stakeholders and players on cashmere,wool,fur & leather industry and sale such as technology supplier, manufacturer, designer, exporter/importer, agents, license holders, investors.
Please contact for inquiries at contact@mongolianbusinessdatabase.com 976 99066062 and register at www.b2bexpomongolia.com

Benefits:

We will create an online colourful catalogue and promote “THE EXHIBITORS CATALOGUE” widely through all MBD information links.
We will arrange individual B2B online matchmaking sessions for the exhibitors. (We will intent to manage at least 5 potential meetings on each exhibitors during the event))
The online catalogue will be kept on www.mongolianbusinessdatabase.com, www.b2bexpomongolia.com websites till the end of 2020. (It is the leading B2B web portal site on Google’s “Mongolia business” search according to its stabled visitors from 80-90 countries regularly)
The registration will close on Nov 25. 2020.

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A Tailored Solution to Support Small Business in Mongolia www.ifc.org

In Mongolia, lack of financing and capacity are key barriers for small business owners to grow and expand their businesses. The ongoing pandemic has further exacerbated the situation.

In response, IFC launched a series of strategic efforts to support Mongolian businesses since the outbreak. The latest initiative is an innovative Mongolia Tugrik (MNT)-denominated loan facility to Transcapital, which will ultimately benefit more than 15,000 micro and rural entrepreneurs.

“IFC’s innovative financing will allow us to expand our support to Mongolian micro and small enterprises while contributing to the nation’s effort to rebound from the COVID-19 crisis,” said Altanzul Zorigt, CEO, Transcapital.

The facility includes a three-year loan of about MNT 8.4 billion (about $3 million) from IFC’s own account and a syndicated loan of about MNT 25.2 billion (about $9 million) from impact investment funds. They include Invest in Visions GmbH, as arranged by German research agency, Agents for Impact GmbH and Co. KG, as well as BlueOrchard Finance Ltd.’s Microfinance Initiative for Asia, ACTIAM and Developing World Markets.
“This is the first time IFC has invested in a non-banking financial institution in Mongolia. This is also our first local currency syndication in the country. The financing signals our strong commitment to helping Mongolian enterprises in the recovery and rebuilding process in the wake of COVID-19,” said Rufat Alimardanov, IFC’s Resident Representative for Mongolia.

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COVID-19: 13 new cases detected, total reaches 518 www.montsame.mn

Ulaanbaatar /MONTSAME/ At the press briefing of the Ministry of Health held at 5 PM, Head of the Surveillance Department of the National Center for Communicable Diseases (NCCD) A.Ambaselmaa reported that 53 people have tested for COVID-19 since 11 AM today and 13 of them tested positive, taking the total number of local transmission cases to 85.

Of the total 518 COVID-19 cases recorded in the country so far, 335 have made recovery. 176 COVID-19 patients are now receiving treatment at NCCD and one of them is in critical, 35 are in serious and 140 in mild health condition.

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Finance Minister: Mongolia has applied to purchase COVID-19 vaccine www.montsame.mn

Ulaanbaatar /MONTSAME/. Following the cabinet meeting held on November 18, Minister of Finance Ch.Khurelbaatar delivered a media presentation on the spending report of foreign loans and assistance received by the government.

According to him, the Government has signed loan agreements with 4 international organizations and development partner countries for its COVID-19 response measures, totaling USD 299.5 million. Out of the total proposed international funds, USD 199.5 million has already been received, including USD 100 million from the Asian Development Bank's COVID-19 Rapid Response Program and USD 99.5 million under the Rapid Financing Instrument of the International Monetary Fund. The remainder USD 100 million loan from the Asian Infrastructure Investment Bank is expected within the fourth quarter of 2020.

The government has also established international agreements of loans and grants worth USD 119.4 million for 10 projects and measures to serve as budget support against COVID-19 pandemic. USD 32.5 million of them has been already received and was spent for the procurement of medical supplies and equipment with a view to alleviate the impact of COVID-19 pandemic. The remaining USD 86.8 million is expected in the last quarter of this year to be spent for much-needed medical supplies.

The Asian Development Bank is providing the largest amount of loan and assistance, allocating a total of USD 160.1 million. Out of USD 128.1 million of funds that has already been received by Mongolia as of now, USD 100 million loan was provided as a budget support for government programs, such as ‘Child Money’ allowance and forgiveness of pension-secured loans.

Another 1.2. million loan from the ADB has been spent for purchasing and distribution of 572 types of medical supplies to Ulaanbaatar’s and local hospitals, and USD 26.4 million loan lessen the socioeconomic impacts of COVID-19 has been spent for financing Child Money program and food stamps for vulnerable groups.

Furthermore, ADB has provided USD 1 million grants for purchasing computed tomography equipment for the National Center for Communicable Diseases, and another USD 1.5 million grants will be provided by ADB for enhancing PCR laboratories countrywide.

In the scope of proposed funds from the ADB, USD 30 million financing within the COVID-19 Rapid Response Program will be spent for purchasing 2,923 units of medical diagnostic equipment, 68,128 personal protective equipment and ambulances for 21 aimags, and refurbishment of sterilization departments at 7 aimag’s clinics.

Moreover, Mongolia has already received following funds and assistance, including

- Assistance of medical supplies and PPE worth USD 700,000 from China

- EUR 16 million of grants as budget support as part of the European Union’s EUR 50.8 million of assistance for Mongolia’s COVID-19 related short, medium, and long term projects,

- USD 99.5 million loan from the International Monetary Fund Mongolia under the Rapid Financing Instrument

- USD 19.3 million from the World Bank as part of various assistance projects for Mongolia's COVID-19 response,

- USD 2.5 million from the USAID for purchasing medical supplies and equipment necessary for providing support to vulnerable groups,

- USD 1.5 million from Germany for PPE and medical equipment as well as improving vocational education in Mongolia,

- USD 2.6 million from the United Nations organizations as technical assistance to strengthen capacity of 7 laboratories in 4 regions and to address preparedness and prevention of diseases in schools and kindergartens.

Minister Khurelbaatar further informed that Mongolia has already applied to purchase COVID-19 vaccine with USD 50.6 million funding from the World Bank and has joined the Covax Facility, a global initiative that brings together governments and manufacturers to ensure eventual COVID-19 vaccines reach those in greatest need. “Therefore, we believe that Mongolia has a higher chance of gaining access to coronavirus vaccine when available” said the Minister of Finance.

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Mongolia to build 2022 km of highways www.news.mn

Plans are in hand in Mongolia for a series of road development works within the next four years. The programme calls for the construction of 2,022km of surfaced roads. In addition, new concrete bridges will be built under these plans.

At present, a plan is being carried out for 2,000km of roads being built during 2020.

Financing for this new programme will be delivered through a combination of state funding, loans from international sources and by Public-Private-Partnerships (PPPs).

New stretches of highway will connect Darkhan with Altanbulag and Nalaikh with Bayan, featuring two lanes in either directions. The 58km road linking capital Ulaanbatar with Uvurkhangai will be improved, as will the 127km route connecting Bayankhongor with Gobi-Altai. Construction will also be carried out on the 67km route connecting Tosontsengel with Uliastai.

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Siemens Responds To Mongolian Government’s Letter About Verstappen Slur www.formula1news.co.uk

Last month, Max Verstappen sparked controversy by calling Lance Stroll a “mongol” after they crashed in Free Practice Two (FP2) at the Portuguese Grand Prix.

In addition to being lambasted on social media for using the ableist slur, Verstappen drew criticism from a Mongolian advocacy group and the Mongolian government, both of which urged him to publicly apologise.

However, over one month on, Max Verstappen is still yet to issue an explicit apology to the people of Mongolia.

And, earlier this month, Lundeg Purevsuren, Mongolia’s ambassador to the UN and the World Trade Organization (WTO), sent a letter to Red Bull founder Dietrich Mateschitz to voice his criticism of Verstappen’s use of the slur and his unwillingness to apologise.

Ambassador Purevsuren also sent a separate letter to a raft of sponsors and technical partners of the Red Bull F1 team to make them aware of the situation.

Formula1News.co.uk has learned that Siemens, one of Red Bull’s key technical partners, have now replied to the Mongolian government.

In their letter, which this publication has read in its entirety, Siemens said they “do not accept discrimination, harassment or any personal attacks towards individual or groups” and revealed that they had already “clearly” expressed their concerns to Red Bull over the incident.

“The team has assured us that the necessary steps have been taken to prevent a similar incident to happen again. Mr Verstappen has publicly offered his apologies for his behaviour,” Torsten Ende, head of government affairs at Siemens, wrote in his letter to Ambassador Purevsuren.

However, Unro Janchiv, Mongolia’s cultural envoy, told Formula1News.co.uk managing editor Suliman Mulhem on Wednesday that, as far as they are concerned, Verstappen is yet to publicly apologise.

“The claim that Max Verstappen apologised publicly is not accurate and the Mongolian government is waiting to hear from his team to date,” Janchiv told this publication, revealing that Red Bull have not even replied to the Mongolian government’s letters.

“He didn’t publicly apologise to our government nor reply to the ambassador’s open call,” Janchiv added.

Concluding, she said the Mongolian government will continue to “work on this issue until it is resolved.”

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