1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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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December 19, 2017 trading report www.mse.mn

On December 19, 2017, 204,890 shares of 27 firms listed as Tier I, II, and III were traded. 12 firms’ shares increased in price, 12 decreased and 3 firms' share unchanged. Jinst Uvs /JIV/ were the top performers, increasing 15.00 percent each, whereas BlueSky JSC /BSKY/ was the worst performer, decreasing 14.96 percent.

On the secondary market for government bonds, 23,320 bonds with a value of MNT2.2 billion were traded.

On the secondary market for block trading of government bonds, 102,496 bonds with a value of MNT10.1 million were traded.

The MSE ALL Index increased by 1.42 percent to stand at 1,162.94 points. The MSE market cap stands at MNT2,456,589,386,479.

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UPS reserves 125 Tesla semi-trucks, largest public pre-order yet www.reuters.com

DETROIT (Reuters) - United Parcel Service Inc (UPS.N) said on Tuesday it is buying 125 Tesla Inc (TSLA.O) all-electric semi-trucks, the largest known order for the big rig so far, as the package delivery company expands its fleet of alternative-fuel vehicles.

Tesla is trying to convince the trucking community it can build an affordable electric big rig with the range and cargo capacity to compete with relatively low-cost, time-tested diesel trucks. This is the largest public order of the big rig so far, Tesla said.

Tesla unveiled its semi last month and expects the truck to be in production by 2019.

The Tesla trucks will cost around $200,000 each for a total order of about $25 million. UPS expects the semi-trucks, the big rigs that haul freight along America’s highways, will have a lower total cost of ownership than conventional vehicles, which run at about $120,000.

Tesla has received pre-orders from such major companies as Walmart (WMT.N), fleet operator J.B. Hunt Transport Services Inc (JBHT.O) and food service distributor Sysco Corp (SYY.N)

Prior to UPS, the largest single pre-order came from PepsiCo Inc (PEP.N), for 100 trucks.

UPS said it has provided Tesla with data on how its trucks function on their real-world routes in order to evaluate how the vehicle should perform in its fleet.

“As with any introductory technology for our fleet, we want to make sure it’s in a position to succeed,” Scott Phillippi, UPS senior director for automotive maintenance and engineering for international operations, told Reuters.

Phillippi said the 125 trucks will allow UPS to conduct a proper test of their abilities. He said the company was still determining their routes, but the semis will “primarily be in the United States.” Tesla will provide consultation and support on charging infrastructure.

“We have high expectations and are very optimistic that this will be a good product and it will have firm support from Tesla to make it work,” Phillippi said.

The UPS alternative fuel fleet already includes trucks propelled by electricity, natural gas, propane and other non-traditional fuels.

About 260,000 semis, or heavy-duty Class-8 trucks, are produced in North America annually, according to FTR, an industry economics research firm.

Including the UPS order, Tesla has at least 410 pre-orders in hand, according to a Reuters tally.

Navistar International Corp (NAV.N) and Volkswagen AG VOWG-P.DE hope to launch a smaller, electric medium-duty truck by late 2019, while rival Daimler AG (DAIGn.DE) has delivered the first of a smaller range of electric trucks to customers in New York.

In afternoon trade on Nasdaq, Tesla shares were down nearly 1.1 percent at $335.24.

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WWE programming is coming to Mongolia www.westfaironline.com

From the leave-no-stone-unturned department: WWE has signed an agreement with the Mongolian sports broadcaster SPS HD to present the “Raw” and “SmackDown” programs for the first time in Mongolia.

WWESPS will offer the programs in English with Mongolian subtitles, with a two-hour version of “Raw” broadcast on Saturdays at 11 a.m. and “SmackDown” on Sundays at 11 a.m. The programs will also be available on SPS HD’s TV Everywhere platform for authenticated subscribers and on its 14-day VOD catchup window.

“We are thrilled to complete our first-ever broadcast deal in Mongolia,” said Michelle Wilson, chief revenue and marketing officer for the Stamford-based WWE. “This partnership to televise WWE programming allows us to expand our reach and deliver our unique blend of action-packed, family friendly entertainment to WWE fans throughout the country.”

WWE is the latest U.S. brand to gain an audience via SPS Sports, which also broadcasts content from the NBA, WNBA and UFC.

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Engineer geological database commissions www.montsame.mn

Ulaanbaatar /MONTSAME/ An Engineer Geological Data base commissioned on December 18, which included 34 types of information such as mineral resources in the territory of Mongolia, soil moisture, historical, archeological monuments, seismicity and climate.

By order of Agency for Land Administration and Management, Geodesy and Cartography (ALAMGC), ‘Enggeotech’ Co.Ltd performed the work to integrate big studies and researches, conducted in the last 100 years, covering issues ranging from mineral resources to land management.

Rights to enrich the data base and share their scientific works with others will be given to the scholars and scientists, noted Kh.Badelkhan, Minister of Construction and Urban Development and he handed over the key of data base to Ts.Gankhuu, Director of the ALAMGC.

"Proper planning which well adjusted to the site and area is required for construction of buildings and roads . Therefore we have compiled data base which included all regional features" said Director Ts.Gankhuu. The database is applicable in all fields such as mining, farming and animal husbandry, he underlined.

United Nations Global Geospatial Information Management was established in 2000 and Mongolia is working as vice chair of UN GGIM Asia-Pacific. Therefore Mongolia should work acitvely leading others to develop geospatial information system, noted the officials.

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Coal-mining companies suffer as ministry suspends Tavan Tolgoi coal exports www.theubpost.mn

Coal exporting companies that operate at Tavan Tolgoi mine and transport their coal through the Gashuunsukhait-Gants Mod border crossing have taken a hit in their stocks following a move by the Ministry of Mining to ban the export of coal through the border crossing indefinitely. A 100-kilometer queue of trucks carrying coal from Tavan Tolgoi persisting since July and steadily increasing to 130 kilometers forced the ministry to take action.

The National Statistics Office reported recently that Mongolia had exported 31.3 million tons of coal in the first 11 months of 2017, a dramatic 40 percent surge in volume. This was indirectly supported by a UN sanctioned sanction on North Korea, which caused China to ban the import of coal from the country, allowing Mongolia to step in and benefit from the gap that the ban had left.

It was seeming like coal exports to China would increase to an unprecedented level right until July, less than a month after the 2017 presidential election. It was then that the Chinese side started doubling-down on security at the Gashuunsukhait-Gants Mod border crossing, where 53 percent of Mongolia’s coal is exported through. Chinese officials cited security concerns, specifically arms and drugs smuggling, as a reason for the delay in passage of trucks.

This caused a long line of trucks to accumulate since July, reaching 130 kilometers at its peak. With no sign of any improvement and the harshest period of winter approaching, Minister of Mining D.Sumiyabazar decided to suspend the transport of coal from Tavan Tolgoi.

Mongolian Mining Corporation (MMC), listed on the Hong Kong Stock Exchange, has observed a fall in their stock value. In August 2017, the company’s stock had reached 0.33 HKD, its highest this year. Currently, the stock of MMC is at 0.19 HKD.

Mongolia Energy Corporation stock is currently at 0.19 HKD, a decrease from the 0.31 HKD it was a year ago. The last two months have seen the most dramatic decrease in its stock.

SouthGobi Resources has seen a hit in its stock as well with the current valuation at 0.18 CAD on the Toronto Stock Exchange. In February, the company’s stock was valued at 0.46 CAD. The arrest of SouthGobi’s former chairman Aminbuhe played a major role in the company’s stock devaluation but the suspension is likely to aggravate the situation further.

Prophecy Development, which explores coal at the Ulaan Ovoo mine, has taken a hit, with its stock pricing at 4.25 CAD as of this week. In January, the company’s stock was 6.65 CAD.

Terracom, operating at the Baruun Noyon Uulcoking coal mine saw its stock price also decrease on the Australian Securities Exchange, with the stock currently valued at 0.18 AUD.

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Turquoise Hill appoints Stephen Jones as director www.turquoisehill.com

Turquoise Hill Resources today announced the appointment of Stephen Jones to the Company’s Board of Directors effective December 18.

Peter Gillin, Turquoise Hill Chairman, said, “The board welcomes Stephen and we look forward to working with him. We will benefit from his extensive mining experience as well as his in-depth knowledge of Oyu Tolgoi.”
Mr. Jones has more than 20 years of experience working for Rio Tinto in Growth and Innovation, Copper and Coal, Aluminium, Iron Ore as well as Technology and Innovation in Australia, Canada, Mongolia and the U.S. In December 2017, he was appointed Chief Advisor – Surface Mining and Geosciences. Previously, Mr. Jones spent four years working in Mongolia for Oyu Tolgoi LLC, with roles including Chief Operating Officer, Acting Chief Executive Officer and General Manager - Operations. He holds a Bachelor of Engineering (Hons) from the University of Queensland, Australia and a Graduate Diploma in Management from Deakin University, Australia.

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Macao, Mongolia sign agreement on transfer of sentenced persons www.gov.mo

The Macao Special Administrative Region (SAR) and Mongolia have signed a reciprocal agreement on the transfer of sentenced persons, in order to enhance judicial cooperation between the two sides.

The “Agreement between the Macao Special Administrative Region of the People’s Republic of China and Mongolia on the Transfer of Sentenced Persons” was signed on Friday (15 December) by the Secretary for Administration and Justice, Ms Chan Hoi Fan, and the Consul General of Mongolia to the Hong Kong and Macau SARs, Mr Samdan Erdene, during a ceremony held at Macao’s Government Headquarters.

The Agreement means a Mongolian person sentenced to a term of imprisonment in Macao can serve the sentence in his or her home jurisdiction, and vice versa. Part of the aim is to assist the offender to reintegrate with society upon release.

The Agreement will come into force 30 days after the two jurisdictions mutually agree that respective internal procedures have been completed.

In May, Macao SAR and Mongolia signed a draft judicial assistance agreement. The Government hopes in the first half of next year to reach consensus with Mongolia regarding discussion on matters to be covered by the final version of that agreement.

Under the Basic Law of Macao, with the assistance and authorisation of the Central People’s Government, the SAR may make appropriate arrangements with foreign states for reciprocal judicial assistance.

Officials attending Friday’s ceremony included: Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China (PRC) in the Macao SAR, Mr Yuan Hengge; representatives of Macao’s international judicial assistance task group; and Mongolia’s Ambassador Extraordinary and Plenipotentiary to the PRC, Mr Gankhuyag Damba.

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First test flights at Mongolia's new Khushig Valley Airport www.news.mn

The Mongolian Civil Aviation Authority has conducted the first test flights at the Khushig Valley International Airport which is currently under construction The test flights were held on 12-16 December. A Cessna 208 (JU-9993) aircraft owned by ‘Geosan’ LLC was used for the flight along with engineering specialists from the Civil Aviation Authority and Norwegian air traffic control systems leader INDRA NAVIA AS.

Located 52 km south of Ulaanbaatar, the new international airport, when it opens, will provide excellent safety and reliability standards, good links to the city and will contribute to the economic development of Mongolia.

Originally slated to open in 2016, the planned date for the first commercial flights is now August 2018. Khushig Valley International Airport is being built in the Sergelen soum of Tuv Province.

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President of BOM N. Bayartsaikhan attends SEACEN governor's conference meeting www.montsame.mn

Ulaanbaatar /MONTSAME/ Officials led by N.Bayartsaikhan, President of Bank of Mongolia attended at the 53rd Meeting of South East Asian Central Banks (SEACEN) Governors’ Conference/High-Level Seminar which was held on December 15-17 in Bangkok, Thailand.

During the conference President of the BoM N.Bayartsaikhan met David Lipton, First Deputy Managing Director of the International Monetary Fund and they exchanged views on current state of Mongolian economic situation, implementing policies and progress of reform in bank sector.

The conference was attended by SEACEN 20 member state as well as presidents of central banks that intend to join the SEACEN, delegates of observer countries and international financial organizations.

In frame of general topic ‘Pursuing Stability in a World of Instability’, the delegates discussed geopolitical risks, technological advancement in financial field and role and participation of central bank to ensure financial stability.

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IMF Executive Board Completes First and Second Reviews under the Extended Arrangement for Mongolia and Approves US$ 79.1 Million Disbursement www.imf.org

Mongolia’s economy is recovering with GDP growth projected to be better than expected. All quantitative targets under the program have been met.

The combination of a strong policy implementation and a supportive external environment has helped the authorities over-perform on all of the quantitative targets under the program.

The authorities are moving ahead with an ambitious structural reform agenda that will help sustain growth over the medium term, promote diversification and competitiveness, and mitigate the boom-bust cycle.

On December 15, 2017, the Executive Board of the International Monetary Fund (IMF) completed the first and second reviews of Mongolia’s performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF). Completion of the review enables Mongolia to draw the equivalent of SDR 55.912 million (about US$ 79.1 million), bringing total disbursements under the arrangement to SDR 83.868 million (about US$ 118.6 million).

Performance under the program thus far has been strong. Growth in 2017 is projected to reach 3.3 percent, considerably better than forecasted at the time of program approval. The combination of strong policy implementation and a supportive external environment has helped the authorities over-perform on all of the quantitative targets under the program. Performance on structural reforms has also been strong, notwithstanding the delays due to the change in government in September.

Mongolia’s three-year extended arrangement was approved on May 24, 2017, in an amount equivalent to SDR 314.5054 million, or about US$425 million at the time of approval of the arrangement (see Press Release No. 17/193 ). The government’s Economic Recovery Program, supported by the IMF, aims to stabilize the economy, reduce the fiscal deficit and debt, rebuild foreign exchange reserves, introduce measures to mitigate the boom-bust cycle and promote sustainable and inclusive growth.

Following the Executive Board’s discussion of the review, Mr. Mitsuhiro Furusawa, Acting Chair and Deputy Managing Director, said:

“Mongolia’s performance under the Fund-supported program has been positive, despite delays related to political developments. Growth has recovered more strongly than anticipated and confidence is returning, allowing the exchange rate to stabilize, external financing costs to fall, and foreign exchange reserves to recover. The authorities have cut the fiscal deficit and have started structural reforms that would improve the quality of growth going forward.

“All quantitative targets under the program have been met. Fiscal results have been better than expected, supported by stronger revenues and tight expenditure control, and the fiscal deficit this year, at 7.6 percent of GDP, is less than half of what it was in 2016. The recently approved 2017 Supplementary Budget and the 2018 Budget are in line with the program. About half of the revenue overperformance will be saved, thus helping to reduce borrowing and control debt, while the remainder will be used to fund productive spending in line with the government action plan and for a one-off bonus to civil servants. Net international reserves have improved, reflecting strong coal export performance, capital inflows into the bond and money markets, and donor disbursements.

“Despite an unsettled political environment, the authorities are moving ahead with ambitious structural reforms that will help sustain growth over the medium term, promote competitiveness and diversification, and mitigate the boom-bust cycle. The rehabilitation and strengthening of the banking system is underway: the results of the comprehensive Asset Quality Review are expected imminently and the Bank of Mongolia is taking steps to improve the regulatory and supervisory framework. Important legal reforms regarding the governance and operations of the Bank of Mongolia, the Deposit Insurance Corporation, and the banks are expected to be passed soon. On the fiscal side, progress is being made in strengthening tax administration, tax policy, and budgetary controls, including through the establishment of a high-level working group on tax policy. To strengthen the social safety net and target pro-poor expenditures toward the most vulnerable, the government is focusing the Child Money Program on less affluent families and using the savings to increase food stamps for the poor.

“With debt still high and the economy still exposed to global commodity developments, it is critical to maintain strong commitment to the program. Sustained implementation of the reform agenda, will help cement solid growth, improve confidence, strengthen fiscal revenues and foreign reserves, and mobilize donor support.”

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