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    

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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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Residential relocation to be restricted starting on April 26 www.theubpost.mn

 
A 60-day restriction on residential relocation will be applied across Mongolia from April 26 to June 27, ahead of the presidential election.
 
Head of the General Authority for Intellectual Property and State Registration R.Sodkhuu issued the order on April 20, in accordance with Article 66 of the Election Law, which states that all movement between districts and provinces will be restricted for 60 days prior to regular and irregular parliamentary, presidential, and provincial elections.
 
The restriction will take effect at 6:00 p.m. on April 26 and end at 8:00 a.m. on June 27, when polling stations for the presidential election have closed.
 
R.Sodkhuu instructed all residential registration departments across the country to expedite applications for changes of residence before the restriction takes effect.
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TIKA to finance infrastructure development www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ A working group led by J.Munkhbat, Member of Parliament and Head of Cabinet Secretariat worked in Khashaat, Ugiinuur and Khotont soums of Arkhangai aimag on April 22-23, and got acquainted with the functions of cultural, educational and health organizations of the soums, solving some financing source issues on the spot.
 
In specific, Turkish Cooperation and Coordination Agency (TIKA) will finance some construction, repair and infrastructure renovation works which were reflected in the 2017 state budget and budget amendments but were not approved. In addition, Authority for State Property Policy and Management resolved to aid the cultural centers of Ugiinuur and Khotont soums by issuing 500 seats.
 
Veysel Ciftci, TIKA Ulaanbaatar Program Coordinator expressed that the agency will prioritize the financing of reconstruction of sewage pipes and infrastructure development for medical centers in the soums.
 
Member of Parliament J.Munkhbat also said that he will work on solving these challenges faced by the residents of Ugiinuur, Khashaat and Khotont soums in the near future.
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MSE meets with FTSE Russell regarding retention of Mongolia on Frontier market watch list www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The representatives of the Mongolian Stock Exchange JSC, namely Chairman N.Manduul and CEO Kh.Altai, held a meeting with officials of FTSE Russell London, Joti Rana, Head of Governance & Policy, Janet Cumberpatch, Committee Secretary and Rakesh Hira, Deputy Committee Secretary, during the Mongolia London Business Forum organised in London, United Kingdom.
 
Mongolia was placed on the Frontier Market Watch List in 2012 for possible inclusion in the classification, however FTSE Russell has informed its intention to remove Mongolia from the Watch List due to the limited progress over recent years against the outstanding criterion requirements, as reported previously.
 
In order to remove the obstacles to meet the criteria for Frontier Market status, MSE has formed a working group consisting of the Clearing House, Central Securities Depository and Mongolian Association of Securities Dealers and is actively working towards the readoption of the T+3 settlement cycle and the introduction of Delivery versus Payment (DvP) mechanism.
 
During the meeting with FTSE Russell, MSE representatives requested their consideration for retaining Mongolia on the Watch List at the September 2017 Annual Review and voiced our commitment to adopting an action plan for meeting the criteria and continuously reporting the progress of its implementation.
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Corporate secretary club in Mongolia launched to promote good governance www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ IFC, a member of the World Bank Group, and the Corporate Governance Development Center (CGDC) have launched a corporate secretary club to promote best governance practices so that members can better advise their company board and management on governance matters.
 
More than 30 corporate secretaries from leading Mongolian commercial banks and other corporations attended the launch in Ulaanbaatar, Mongolia, on April 12. The club provides a venue for corporate secretaries to network, discuss governance challenges and international trends, and undergo training to become senior governance professionals.
 
“Traditionally people view a board secretary as the CEO’s assistant, but the role is evolving and we see a need to improve public recognition and understanding of what a corporate secretary does,” said Tsend-Ayush Tuvshintur, Chief Executive Officer of the Corporate Governance Development Center. “The club offers professional growth opportunities to help our members become champions of corporate governance in their companies. We believe the club will greatly contribute to improving corporate governance practices in Mongolia.”
 
Since 2015, IFC has been cooperating with CGDC to increase market awareness of corporate governance, improve governance-related regulations, and advise individual companies on enhancing their corporate governance practices.
 
“IFC has been working with both regulators and the private sector to strengthen corporate governance standards in Mongolian companies,” said Tuyen D. Nguyen, IFC Resident Representative in Mongolia. “We believe this initiative will further enhance corporate leadership and governance, making Mongolian companies more competitive and attractive to global investors.”
 
Since 2009, IFC has been supporting Mongolia’s efforts to enhance corporate governance practices, including the development of a corporate governance scorecard in 2013 and regulations governing related-party disclosures to protect the interests of minority investors. These efforts are part of the broader IFC Corporate Governance Program in East Asia and the Pacific, which is funded by the State Secretariat for Economic Affairs of Switzerland.
 
Globally and across the region, IFC leverages its private sector development expertise to promote good governance practices at different levels of a market and help attract investment. The program helps regulatory bodies strengthen laws and regulations, builds the capacity of local partners and market intermediaries, advises individual firms on corporate governance improvements, and supports various awareness-raising activities. In East Asia Pacific, direct engagements with companies facilitated more than $852 million in financing due in part to corporate governance improvements and over 7,300 executives were trained through workshops conducted by IFC partners as of December 2016.
 
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Tesla’s big Model 3 bet rides on risky assembly line strategy www.reuters.com

 
Tesla Inc (TSLA.O) Chief Executive Elon Musk took many risks with the technology in his company's cars on the way to surpassing Ford Motor Co's market value. Now Musk is pushing boundaries in the factory that makes them.
 
Most automakers test a new model's production line by building vehicles with relatively cheap, prototype tools designed to be scrapped once they deliver doors that fit, body panels with the right shape and dashboards that don't have gaps or seams.
 
Tesla, however, is skipping that preliminary step and ordering permanent, more expensive equipment as it races to launch its Model 3 sedan by a self-imposed volume production deadline of September, Musk told investors last month.
 
Musk’s decision underscores his high-risk tolerance and willingness to forego long-held industry norms that has helped Tesla upend the traditional auto industry. While Tesla is not the first automaker to try to accelerate production on the factory floor, no other rival is putting this much faith in the production strategy succeeding.
 
Musk expects the Model 3 rollout to help Tesla deliver five times its current annual sales volume, a key target in the automaker's efforts to stop burning cash.
 
"He's pushing the envelope to see how much time and cost he can take out of the process," said Ron Harbour, a manufacturing consultant at Oliver Wyman.
 
Investors are already counting on Tesla’s factory floor success, with shares soaring 39 percent since January as it makes the leap from niche producer to mass producer in far less time than rivals.
 
There are caution signs, however. The production equipment designed to produce millions of cars is expensive to fix or replace if it doesn't work, industry experts say. Tesla has encountered quality problems on its existing low-volume cars, and the Model 3 is designed to sell in numbers as high as 500,000 vehicles a year, raising the potential cost of recalls or warranty repairs.
 
"It's an experiment, certainly," said Consumer Reports' Jake Fisher, who has done extensive testing of Tesla's previous Models S and X. Tesla could possibly fix errors quicker, speeding up the process, "or it could be they have unsuspected problems they'll have a hard time dealing with."
 
Musk discussed the decision to skip what he referred to as "beta" production testing during a call last month with an invited group of investors. Details were published on Reddit by an investor on the call. (here).
 
He also said that “advanced analytical techniques” – code word for computer simulations - would help Tesla in advancing straight to production tooling.
 
Tesla declined to confirm details of the call or comment on its production strategy.
 
The auto industry's incumbents have not been standing still. Volkswagen AG's Audi division launched production of a new plant in Mexico using computer simulations of production tools – and indeed the entire assembly line and factory - that Audi said it believed to be an industry first. That process allowed the plant to launch production 30 percent faster than usual, Audi said.
 
An Audi executive involved in the Mexican plant launch, Peter Hochholdinger, is now Tesla's vice president of production.
 
MAKING TOOLS FASTER
 
Typically, automakers test their design with limited production using lower grade equipment that can be modified slightly to address problems. When most of the kinks are worked out, they order the final equipment.
 
Tesla’s decision to move directly to the final tools is in part because lower grade, disposable equipment known as “soft tooling” ended up complicating the debut of the problem-plagued Model X SUV in 2015, according to a person familiar with the decision and Tesla’s assembly line planning.
 
Working on a tight deadline, Tesla had no time to incorporate lessons learned from soft tooling before having to order the permanent production tooling, making the former's value negligible, the source said.
 
"Soft tooling did very little for the program and arguably hurt things," said the person.
 
In addition, Tesla has learned to better modify final production tools, and its 2015 purchase of a Michigan tooling company means it can make major equipment 30 percent faster than before, and more cheaply as well, the source said.
 
Financial pressure is partly driving Tesla’s haste. The quicker Tesla can deliver the Model 3 with its estimated $35,000 base price to the 373,000 customers who have put down a $1000 deposit, the closer it can log $13 billion.
 
Tesla has labored under financial pressure since it was founded in 2003. The company has yet to turn an annual profit, and earlier this year Musk said the company was "close to the edge" as it look toward capital spending of $2-2.5 billion in the first half of 2017.
 
Tesla has since gotten more breathing room by raising $1.2 billion in fresh capital in March and selling a five per cent stake to Chinese internet company Tencent Holdings Ltd (0700.HK) .
 
Musk has spoken to investors about his vision of an "alien dreadnought" factory that uses artificial intelligence and robots to build cars at speeds faster than human assembly workers could manage.
 
But there are limits to what technology can do in the heavily regulated car business. For example, Tesla will still have to use real cars in crash tests required by the U.S. government, because federal rules do not allow simulated crash results to substitute for data from a real car.
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Alibaba’s Jack Ma predicts decades of ‘pain’ ahead www.rt.com

 
Chinese billionaire Jack Ma has warned people should prepare for decades of social upheaval and pain as the internet disrupts the global economy.
“In the next 30 years, the world’s pain will be much greater than its happiness,” Ma said at an entrepreneurial conference in Zhengzhou, China. “Social conflicts over the next 30 years will hugely impact every industry.”
 
According to Ma, the world must radically change the way people are taught and establish how to work with robots to help soften the blow caused by automation and the internet economy.
 
“Machines should only do what humans cannot,” Ma said, adding “only in this way can we have the opportunities to keep machines as working partners with humans, rather than as replacements.”
 
The founder of the e-trading platform Alibaba said he had tried to warn people in the early days of e-commerce it would disrupt traditional retailers but few listened. This time he wants to caution against the impact of new technologies, so no one will be surprised.
 
“Fifteen years ago I gave speeches 200 or 300 times reminding everyone the internet will impact all industries, but people didn’t listen because I was nobody," he said.
 
Cloud computing and artificial intelligence are essential for business, according to Ma, who has called for traditional industries to stop complaining about the internet’s effects on the economy. He said Alibaba’s central online marketplace Taobao has already created millions of jobs.
 
A former English teacher, Jack Ma set up Alibaba in 1999. It is now the world’s biggest e-commerce platform with a market capitalization of $246.12 billion.
 
The company has recently announced steps to diversify the business, expanding into the digital area. It plans to invest a billion yuan ($145 million) into mobile game distribution.
 
Last year, Ma revealed an ambitious plan to create 100 million jobs in the next two decades.
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Jimmy Choo puts itself up for sale www.bbc.com

Luxury shoe maker Jimmy Choo has said it is seeking potential offers for a sale of the business.
The firm said it had not received any bids yet and was also considering other options for the business.
The move received backing from Jimmy Choo's main shareholder JAB Holdings, which is also an investor in Krispy Kreme donuts and luxury firm Coty.
As well as shoes, Jimmy Choo produces a range of luxury goods, but has seen sales slow in recent years.
Its footwear is often seen on the red carpet worn by celebrities such as Jennifer Lopez and Bella Hadid.
The company said in a statement: "The Board of Jimmy Choo announces today that it has decided to conduct a review of the various strategic options open to the Company to maximise value for its shareholders and it is seeking offers for the Company.
"Jimmy Choo has discussed the strategic review process with its majority shareholder, JAB Luxury GmbH, and JAB Luxury has confirmed that it is supportive of the process."
Jimmy Choo's sales growth was 2% in 2016 compared to 7% in 2015 and 12% in 2014, analysts at HSBC noted last month.
The company listed on the UK stock market in 2014. Its shares have gained more than 20% this year, giving it a market value of £670m

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Analysts Set Turquoise Hill Resources Ltd (TRQ) Target Price at $5.17 www.watchlistnews.com

 
Turquoise Hill Resources Ltd (NYSE:TRQ) (TSE:TRQ) has been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $5.17.
 
Several research analysts recently issued reports on TRQ shares. Royal Bank of Canada reissued a “hold” rating on shares of Turquoise Hill Resources in a research note on Wednesday. Credit Suisse Group AG restated a “neutral” rating on shares of Turquoise Hill Resources in a report on Tuesday, April 18th.
 
Institutional investors have recently made changes to their positions in the stock. Bourgeon Capital Management LLC increased its position in shares of Turquoise Hill Resources by 1.6% in the third quarter. Bourgeon Capital Management LLC now owns 87,325 shares of the basic materials company’s stock valued at $259,000 after buying an additional 1,369 shares during the last quarter. Nwam LLC purchased a new position in shares of Turquoise Hill Resources during the third quarter valued at about $267,000. Kopernik Global Investors LLC increased its position in shares of Turquoise Hill Resources by 13.9% in the third quarter. Kopernik Global Investors LLC now owns 11,149,464 shares of the basic materials company’s stock valued at $33,115,000 after buying an additional 1,360,761 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Turquoise Hill Resources by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,158,511 shares of the basic materials company’s stock valued at $3,441,000 after buying an additional 2,928 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Turquoise Hill Resources by 3.3% in the third quarter. UBS Asset Management Americas Inc. now owns 1,972,066 shares of the basic materials company’s stock valued at $5,822,000 after buying an additional 62,179 shares during the last quarter. 30.50% of the stock is currently owned by institutional investors and hedge funds.
 
Shares of Turquoise Hill Resources (NYSE:TRQ) traded down 1.11% during midday trading on Tuesday, reaching $2.67. The company’s stock had a trading volume of 4,999,234 shares. Turquoise Hill Resources has a one year low of $2.57 and a one year high of $3.80. The stock has a market cap of $5.37 billion, a PE ratio of 26.70 and a beta of 0.74. The firm has a 50-day moving average of $3.06 and a 200-day moving average of $3.26.
 
Turquoise Hill Resources (NYSE:TRQ) last released its earnings results on Monday, March 27th. The basic materials company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $215.65 million. Turquoise Hill Resources had a return on equity of 3.78% and a net margin of 21.61%. The company’s quarterly revenue was down 36.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share.
 
About Turquoise Hill Resources
 
Turquoise Hill Resources Ltd. (Turquoise Hill) is an international mining company. The Company focuses on the operation and further development of the Oyu Tolgoi copper-gold mine in Southern Mongolia, which is the Company’s principal material mineral resource property. The Company’s Oyu Tolgoi mine is located approximately 550 kilometers south of Ulaanbaatar, Mongolia’s capital city, and approximately 80 kilometers north of the Mongolia-China border.
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Seven countries to deepen cooperation on China-Europe freight rail services www.chinadaily.com.cn

 
BEIJING — Railway authorities of China, Belarus, Germany, Kazakhstan, Mongolia, Poland and Russia, have signed an agreement to deepen cooperation on China-Europe freight rail services, according to China Railway Corporation.
 
The agreement serves the Belt and Road Initiative, expands the market share of rail freight between Asia and Europe and drives economic development and trade cooperation for counties along the route.
 
The countries will jointly push for better railway infrastructure for a safe, smooth, fast, convenient and competitive rail route, according to the agreement.
 
Information technology will boost train speed and unified service. Information sharing platforms will be built to ensure transport safety.
 
The countries will expand the rail services to more areas with faster customs clearance. A joint work team and expert team will be formed to solve problems.
 
The China-Europe freight train service was launched in 2011 and grown rapidly with high efficiency. It has become an important part of the Belt and Road Initiative.
 
A total of 3,557 freight trains have run so far, with services reaching 27 Chinese cities and 28 cities in 11 countries in Europe.
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Mongolia aviation: liberalisation, end of MIAT protection needed to drive growth at new airport www.centreforaviation.com

 
Mongolia’s stagnant aviation market is at an important juncture as the country prepares to open a new airport at the capital Ulaanbaatar in May-2018. In order to drive growth and ensure the new airport does not turn into a white elephant, the government needs to adopt a new more liberal aviation policy and stop protecting its flag carrier.
 
Mongolia’s international market has not grown in the past four years due, in part, to protective policies. In the latest examples of protectionism, Mongolia has refused to allow Kazakhstan’s Air Astana to launch flights, and has not approved more capacity for Turkish Airways, needed for new nonstop flights from Istanbul.
 
The Mongolian market has huge potential, and increased tourism would have an overall economic benefit far greater than the negative impact on the government owned MIAT Mongolian Airlines from increased competition. With the new airport about to open, it is even more crucial for Mongolia to liberalise – not only by opening up to all interested foreign airlines, but also by ending MIAT’s monopoly on ground handling services and making sure the airport’s charges are low enough to support new flights.
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