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

NEWS

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Samsung tips huge jump in profit despite corruption scandal www.chinadaily.com.cn

 
SEOUL, South Korea - Samsung Electronics said Friday its first-quarter profit jumped 48 percent, a better-than-expected result that analysts believed to be driven by strong smartphone components.
 
The quarterly earnings preview show that how Samsung's business is booming while its stock trade near historic highs, despite unprecedented crises in recent months. Samsung scrapped its flagship smartphones last year after they overheated and caught fire, leaving billions of dollars in financial damages and hurting its reputation. A few months later, its de facto heir and several top executives were charged with crimes linked to a political scandal that toppled the country's president.
 
Its January-March operating income will be 9.9 trillion won (US$8.8 billion), compared with 6.7 trillion won a year earlier, the South Korean company said in its earnings preview.
 
The result was higher than the market consensus of 9.3 trillion won, according to financial data provider FactSet. Its sales stayed nearly flat at 50 trillion won (US$44 billion) during the first quarter.
 
Samsung's de facto leader is due to make his first appearance at court later Friday along with four other Samsung executives who were also charged on bribery and embezzlement.
 
Lee Jae-yong, 48, a vice chairman at Samsung Electronics and the only son of its chairman, was arrested and indicted in February on bribery, embezzlement and three other charges that could entail at least five years in prison if he is proven guilty.
 
Prosecutors believe the 48-year-old billionaire and his aides used Samsung corporate funds to bribe former President Park Geun-hye and her close confidante in exchange for supporting a smooth leadership transition at Samsung. Samsung gave or promised to give 43.3 billion won ($38 million) to four entities controlled by Park's friend Choi Soon-sil, who has been charged with misuse of power and meddling in state affairs. Prosecutors allege the money was given to obtain government backing for a contentious merger of two Samsung companies in 2015 that served as a key step in passing corporate control to Lee from his ailing father.
 
The scandal engulfed Park's administration, prompted millions of South Koreans to regularly protest in the streets and culminated in Park's ousting in March.
 
Lee's lawyers have previously denied all charges brought against Lee.
 
Samsung did not elaborate on its quarterly results. It is scheduled to give more details including quarterly net profit later in the month.
 
Analysts said strong demand for mobile chips and displays for smartphones fueled the stellar profit during the typically slow season for smartphones and television sets. They said Samsung's semiconductor division likely recorded profit much higher than expected, contributing more than half of the company's quarterly income as supplies of memory chips remained tight while demand from global smartphone makers was solid.
 
Samsung, the world's largest maker of smartphones and display panels, has unveiled the Galaxy S8 smartphone last week, which is set to go on sales later this month. The S8 was its first major smartphone launch since the fire-prone Galaxy Note 7 fiasco.
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Twitter refuses U.S. order to reveal user behind anti-Trump account www.reuters.com

 
Twitter Inc on Thursday filed a federal lawsuit to block an order by the U.S. government demanding that it reveal who is behind an account opposed to President Donald Trump's tough immigration policies.
 
Twitter cited freedom of speech as a basis for not turning over records about the account, @ALT_uscis. The account is claimed to be the work of at least one federal immigration employee, according to the lawsuit filed in San Francisco federal court.
 
The acronym U.S. CIS refers to U.S. Citizenship and Immigration Services, and the account describes itself as "immigration resistance." Trump has vowed to build a wall along the U.S. border with Mexico and has promised to deport millions of illegal immigrants.
 
Following Trump's inauguration in January, anonymous Twitter feeds that borrowed the names and logos of more than a dozen U.S. government agencies appeared to challenge the president's views on climate change and other issues. They called themselves "alt" accounts.
 
Twitter spokesman Nick Pacilio declined to comment on whether the government had demanded information about other accounts critical of Trump.
 
Twitter, which counts Trump among its active users, has a record of litigating in favor of user privacy.
 
"The rights of free speech afforded Twitter's users and Twitter itself under the First Amendment of the U.S. Constitution include a right to disseminate such anonymous or pseudonymous political speech," Twitter said in the lawsuit. (tmsnrt.rs/2p6CnXp)
 
The Department of Homeland Security, which is a defendant in the lawsuit, declined to comment on pending litigation. The Justice Department, which typically represents federal agencies in court, and the White House had no immediate comment.
 
Senator Ron Wyden, an Oregon Democrat, said in a statement it was a waste of resources to try to uncover an anonymous critic, and he called on the Homeland Security inspector general to investigate who directed the "witch hunt."
 
Esha Bhandari, a staff attorney with the American Civil Liberties Union, which is representing the Twitter user, said the government's request was highly unusual. Requests for social media account information from the U.S. government typically involve national security or criminal charges, she said.
 
"We have seen no reason the government has given for seeking to unmask this speaker's identity," Bhandari said, adding that the right to anonymous speech against the government is "a bedrock American value" strongly protected under the First Amendment of the U.S. Constitution.
 
Shortly after the lawsuit became public, @ALT_uscis tweeted a copy of the First Amendment and a picture of part of the lawsuit. The account's followers nearly tripled to 89,000 in the hours after the news broke.
 
For weeks the account has posted criticism of the administration. It tweeted a parody of the game "bingo" for "right-wing idiots," said that some anti-immigration advocates must have been dropped on their head at birth, and mocked Trump for not giving more of his wealth to charities.
 
A copy of the summons filed with the lawsuit says the records are needed for an investigation to ensure compliance with duties, taxes and fines and other customs and immigration matters.
 
It was not immediately clear how the anonymous account fit into those laws and regulations, and Twitter said the summons was an abuse of a law meant to be used to investigate imported merchandise.
 
Twitter might have a strong case that the summons was improper, said Paul Alan Levy, staff attorney at Public Citizen Litigation Group who specializes in online privacy and free speech issues.
 
"I don't think there is any way for the government to come out of this looking good," Levy said.
 
There is no indication that the White House was aware of the summons, which was signed by a Florida-based supervisor who works in an office that investigates employee corruption, misconduct and mismanagement. The supervisor could not be reached for comment.
 
The summons requested, but apparently did not order, that Twitter keep the document private.
 
The social media company has a history of challenging government demands for information on its users, including a 2012 demand from New York prosecutors about an Occupy Wall Street protester. In that case, Twitter was forced to hand over tweets from the protester to a judge who threatened the company with sanctions, and the protester pleaded guilty to disorderly conduct.
 
Twitter sued the U.S. Department of Justice in 2014, seeking permission to publicly disclose more information about requests it gets from U.S. authorities for information about its users. The lawsuit was partly dismissed last year.
 
Among the lawyers representing Twitter in the latest case is Seth Waxman, a former high-ranking Justice Department official under President Bill Clinton.
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Mongolian artist signs exclusive agreement with Japanese company www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Yesterday, April 6, an artist exclusive agreement was signed between Mongolian manga artist N.Erdenebayar and Japanese “Wedge Holdings” Company at Blue Sky Hotel. N.Erdenebayar is the author and illustrator of a well-known comic series ‘Bumbardai’, which won Grand Prize from the International Manga Award, an initiative founded by the Ministry of Foreign Affairs in Japan in 2015.
 
According to the agreement, his manga works will be promoted in Asia and other countries, products will be released and artist N.Erdenebayar will participate in marketing activities.
 
“Bumbardai is a project aimed at elucidating Mongolian culture and heritage to children in a simple and interesting way. Foreign children are noticed to be interested in it. I think, this is the reason of promoting the series into international market.” said manga artist N.Erdenebayar.
Mr N.Erdenebayar started producing manga in 2004, releasing his first manga book in 2005. He is now working on an exhibition dedicated to a character Bumbardai.
 
“Wedge Holdings’” company has been running content activities over 30 years. We plan to develop this kind of cooperation in six Asian countries. It is the first agreement with an international artist. We run business in many countries and we will make N.Erdenebayar famous in those countries. I believe works of N.Erdenebayar will fascinate two billion people of Asia. Artwork is a will, desire and aspiration. This agreement will target to encourage him to create the best works” said General Director of the company Konoshita Tatsuya.
 
Bumbardai will have a total of 108 series, four of which have been released and the first three series are on sale in Japan.
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EU hits China with new 'anti-dumping' duties on steel imports, Beijing pledges retaliation www.rt.com

 
The European Commission has hiked 'anti-dumping' duties on imports of hot-rolled flat steel products from China already in place. The decision has angered Beijing, which has promised to respond.
 
The duties on the Chinese steel products have been increased to 22.6 percent from 13.2 percent following a complaint from EU producers ArcelorMittal, Tata Steel and ThyssenKrupp.
 
According to the European producers, China sells steel at a loss due to overcapacity.
At the beginning of 2016, China pledged to cut 150 million tons of annual production capacity over the next five years. However, capacity rose last year.
 
Beijing has said steel overcapacity is not only a Chinese concern but a global one.
The Commission said a similar investigation into Brazil, Iran, Russia, Serbia, and Ukraine is still in process and would continue for six months.
 
"The decision not to impose provisional measures for imports from Brazil, Iran, Russia, Serbia and Ukraine does not prejudge the final outcome of that investigation," a Commission spokesman said, as quoted by Reuters.
 
China has responded angrily to the decision. The Ministry of Commerce said it came from "unfair, unreasonable" use of the 'surrogate country' prices references method.
 
When China joined the World Trade Organization in 2001, it agreed to let WTO members treat it as a non-market economy when assessing dumping duties for 15 years. The surrogate is a market economy country that is at a level of economic development comparable to that of the non-market economy country.
 
The clause expired on December 11 last year but is still being used when assessing Chinese steel exports, according to Beijing.
 
"The Chinese side urges the EU to fully carry out its treaty obligations under the WTO, stop using the 'surrogate country' method, and treat Chinese companies fairly, justly and without discrimination," said Wang Hejun of the Chinese Ministry of Commerce, Trade Remedy and Investigation Bureau in a statement.
 
Brussels' decision was based merely on accusations and speculation, said Wang.
 
"China urges the European side to correct such a mistake as soon as possible," he said. The Chinese government will take "necessary measures" to protect the legitimate interests of "seriously" hurt domestic firms, Wang warned.
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Iran & Hungary to develop nuclear plant for 'scientific-educational' purposes www.rt.com

Hungary and Iran have agreed to cooperate in a joint mini nuclear power plant project. The countries will create a small nuclear reactor for scientific and educational purposes, said a Hungarian official on Thursday.
 
Prime Minister Viktor Orban's chief of staff Janos Lazar was asked if the project would comply with the nuclear deal between Tehran and the six leading world powers.
 
"When the Prime Minister was there, we undertook to take part in jointly creating a mini nuclear plant with educational, scientific purposes, and now this agreement will be implemented," Lazar said, referring to Orban’s visit to Iran in 2015.
 
In February 2016, Iran's top nuclear official Ali Akbar Salehi said the country had proposed a pilot project with Hungary to design a 25-megawatt reactor and then a reactor of up to 100 megawatts to be sold in Africa and Asia.
 
According to him, the reactor would fit the poorer countries in the region, as it requires less cooling water.
 
"One particular project that I suggested was to see if we can... together design a small reactor of 25 megawatts. It was received well, and we hope that we can start this project, just on paper,” Salehi said, as quoted by Reuters.
 
Iran and the six international mediators (the US, UK, France, Germany, Russia and China) signed a deal in July 2015 to settle the standoff over Iran's nuclear program.
 
According to the accord, Tehran agreed to cut the number of centrifuges by two-thirds, cap its uranium enrichment below the level needed for bomb-grade material, reduce its enriched uranium stockpile from around 10,000 kilograms to 300 for 15 years, and allow international inspectors to access its nuclear facilities. In return, Western countries agreed to lift nuclear-related international sanctions.
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Mongolia and UN bound by Statement of Cooperation for disaster risk reduction www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Session of the ISDR Asian Partnership (IAP) Meeting is kicking off today in Ulaanbaatar. It is being organized by the Government of Mongolia, the National Emergency Management Agency (NEMA) and the United Nations International Strategy For Disaster Reduction (UNISDR).
 
Deputy Prime Minister U.Khurelsukh received Mr Robert Glasser, Special Representative of the UN Secretary General for Disaster Risk Reduction, who is visiting Mongolia to take part in the ISDR Asian Partnership Meeting in Ulaanbaatar.
 
During the meeting, the dignitaries signed the Statement of Cooperation on organization of the UNISDR Asian Ministerial Conference, to take place in Ulaanbaatar in 2018.
 
The main purpose of our cooperation, according to the Statement, is forwarding the mobilization of Sendai Framework on Disaster Risk Reduction in Asian region and improving collaboration within the region and between governments on sophisticating the monitoring and evaluation system, underlined the Deputy Premier.
 
Mr Glasser said, while highlighting that the ISDR Asian Ministerial Conference is by-far the most prestigious regional event in the field of disaster risk reduction, that Mongolia is recognized for its commitment to diminishing risks of emergencies.
 
He pledged to collaborate with Mongolia in reducing disaster risks by all means.
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First discussion of bill on budget amendments runs www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Today, the Parliament started to discuss bill on 2017 budget amendments. Finance Minister B.Choijilsuren made an introduction on the bill, noting that the draft had been developed within the framework of International Monetary Fund's Extended Fund Facility program, making resolute changes.
 
To implement the IMF program, the Mongolian government has agreed to make three arrangements, including the budget adjustment to increase some tax rates and reduce budget expenditure. The IMF will provide USD440 million and other international partners - USD3 billion.
In response to questions Finance Minister said “USD400 million from the IMF will be spent for increasing reserve of the Bank of Mongolia. The rest will be allocated for removing budget deficit during 2017-2019. The number of public officers was around 142 thousand in 2012, which later grew to 180 thousand. But it is not proper to cut the number, making many people jobless. Therefore, we agreed with the IMF not to hire new employees in state and public services in the position of retired ones. Only some services, including medical, educational and emergency can take on one new employee in place of two retired employees”.
 
MP S.Erdene expressed position of democratic party group the in the parliament that a large amount of loan should not be lent from the IMF and tax rates should not be raised, reminding the Mongolian People's Party members about the party’s promise to raise pensions and salaries and not to increase tax rates.
 
Some MPs also expressed their positions against raising the retirement age, saying that the retirement age should be voluntarily chosen. Minister B.Choijilsuren explained “- Raising retirement age and social insurance contribution rate have become inevitable. Pension fund needs subsidies of MNT587.3 billion this year and it will grow to MNT2.3 trillion further. Therefore policy change must be made as the fund has so much deficit”.
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Discussion on environmental management and planning held www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 5, within the framework of cooperation between Ulaanbaatar City Administration and the Asia Foundation, a discussion under the theme "Environmental management and planning issues in connection with mining activities near Ulaanbaatar city” was held.
 
At the beginning of the discussion, Meloney C.Lindberg, Asia Foundation's Country Representative in Mongolia mentioned that the Asia Foundation has established a memorandum with the Ulaanbaatar City Administration. In this scope, the Asia Foundation agreed to give support and assistance regarding issues on ongoing mining activities near the capital.
 
During the meeting, participants discussed ways to solve pressing issues and challenges and the sides agreed to continue to cooperate with all corresponding parties of public and private sectors and civil society on land rehabilitation.
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Cyclone damage causes BHP to declare force majeure in Australia www.mining.com

 
World’s largest miner BHP Billiton (ASX:BHP) said on Wednesday it won't meet its coal export commitments due to the damage caused by a cyclone that struck Australia’s north-east coast last week.
 
Damage to rail lines in cyclone-hit Queensland have disrupted the shipment of between 15 million and 20 million tonnes of coking coal destined to Asia.
The company, which is also the world's biggest shipper of steelmaking coal, said force majeure has been declared for all coal products from its joint ventures with Mitsubishi Corp. and Mitsui & Co.
 
"BHP Billiton continues to assess haulage options to manage access from mine sites to ports and shipments to customers," it said in the statement.
 
Aurizon Holdings, Australia's top rail freight operator, was forced to close some key routes between inland mines and export terminals to repair the damage caused by cyclone Debbie. Earlier this week, Aurizon said it could take more than a month to get some of those critical lines running again.
 
Queensland accounts for more than 50%of global seaborne coking coal supplies, so problems in the area have caused prices to climb about 9% on expectations that supply will remain disrupted for weeks. Analysts at Standard & Poor estimated this could mean between 15 million and 20 million tonnes of coking coal supply could be eliminated from global markets.
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Boundaries of Gatsuurt gold deposit set at 3025 hectares www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting held on April 4, the Cabinet made a decision on setting the gold deposit area of Gatsuurt to be 3025 hectares. In doing so, geological formation, mineralization, exploration criteria, metallized area and areas where mining construction could be made were taken into account.
 
In compliance with an order of the Minister of Mining and Heavy Industry, a working group was assigned to determine the boundaries for two mineral deposits from among 16 deposits of strategic importance, Erdenetiin Ovoo copper and molybdenum deposit and Gatsuurt gold deposit, working on site in March.
 
Special license for utilization of Gatsuurt gold deposit is owned by Centerra Gold LLC and 50 tons of proven, actual and potential gold reserves are registered to the state registration database. The Gatsuurt deposit is located in Mandal soum of Selenge aimag, 180 km from Ulaanbaatar and 45 km from the Boroo gold deposit.
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