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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Iceland to end capital controls from 2008 financial crisis www.bbc.com

 
Iceland will lift all capital controls on its citizens, businesses and pension funds from Tuesday.
Capital controls, such as those to restrict money flowing in and out of the country, were imposed in 2008 after the country's biggest banks collapsed.
The government thinks the economy has recovered sufficiently to end controls.
Controls were imposed after the collapse of the country's three biggest banks - Glitnir, Landsbanki and Kaupthing.
At the same time Iceland's national currency, the krona, fell in value.
The removal of the capital controls - which helped stabilise the currency and economy during the country's financial crash - represents the completion of Iceland's return to international financial markets.
Travel hotspot
Since the nation's financial collapse, the economy has seen a robust recovery, helped by a boom in tourism.
Last year around 1.8 million people visited the the nation, a 40% rise on 2015.
The UK accounted for 316,395 of last year's visitors, behind only US citizens in visitor numbers.
That tourism boom, coupled with strong investment by business and in the housing market, helped the economy grow 7.2% in 2016.
"Iceland's careful, measured approach to lift capital controls was developed and approved with domestic and international support," said Benedikt Johannesson, minister of finance and economic affairs.
"As a result of this structured plan, our diversified economy is larger than ever before and expected to continue to grow at a robust pace this year."
Capital controls were implemented in 2008, with the support of the International Monetary Fund (IMF), to shield the economy from severe depreciation.
For the past year, the government and Central Bank of Iceland have been lifting controls through what they say has been an "incremental, measured process that focused on protecting the currency, addressing a balance of payments problem and tempering shocks to the Icelandic economy".
The country has also updated rules on foreign exchange and made special reserve requirements for new foreign currency inflows.
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World's biggest automaker expands to India www.rt.com

German carmaker Volkswagen (VW) and India's Tata Motors have agreed to form a strategic partnership which is expected to help both companies boost budget car sales in India and emerging markets.

Volkswagen CEO Matthias Mueller said the venture would aid "achieve sustainable and profitable growth in very different parts of the world."

The sides want to deepen exchanges about technology, components, and platforms, sources told Reuters. Specific projects will be disclosed in the coming months.

"We strongly believe that both the companies, by working together, can leverage from each other's strengths to create synergies and develop smart, innovative solutions for the Indian and overseas market," said the Chief Executive and Managing Director of Tata Motors Guenter Butschek.

Experts say the new partnership could potentially lead to Tata Motors launching new vehicles by 2019.

The owner of Jaguar Land Rover, Tata has been under pressure at home and hopes to claw back domestic market share.

Booming auto sales in India and its 1.3 billion population are a big attraction for Western carmakers as they search for growth. Automakers like Fiat Chrysler and France's Peugeot and Citroen are already operating in the country.

According to IHS Markit, light vehicle sales in India are expected to more than double to 7.1 million cars by 2025 from 3.4 million last year.

VW which is still dealing with the aftermath of the emissions-cheating scandal seeks to expand into new markets. In January the company pleaded guilty to three criminal charges in the US and will pay out a $4.3 billion settlement.

Volkswagen is investing in self-drive vehicles and greener technology such as electric cars. Its previous attempt to conquer emerging markets through a small-car partnership with Japanese automaker Suzuki Motor collapsed in 2015.

The manufacturer is currently working on budget cars for China and Latin America.

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South Korea impeachment: Critics urge Park Geun-hye arrest www.bbc.com

Ousted South Korean leader Park Geun-hye is keeping her silence as calls grow for her arrest.
Ms Park was forced from office on Friday, after judges unanimously upheld parliament's decision to impeach her over her role in a corruption scandal involving close friend, Choi Soon-sil.
Despite the ruling, she remains inside the presidential compound.
Thousands turned out for rallies in Seoul on Saturday, a day after three people involved in protests died there.
Many are supporting Ms Park but counter-demonstrators are also expected.
There are fears the two sides may clash and there is a heavy police presence.

A spokeswoman for the protesters supporting the court's decision, Choi In-sook, told Reuters they were demanding the arrest of their former leader.
Ms Park has lost her presidential immunity and could face criminal charges.
Meanwhile, the country's election commission announced a "free and fair" vote would be held by 9 May at the latest.
Image caption
Anti-Park protesters have been calling for her to be arrested
Currently, Moon Jae-in of the Democratic Party is leading in the polls, with one survey putting him almost 22% ahead of his nearest rival, acting president Hwang Kyo-ahn, who is loyal to Ms Park.
Mr Hwang has called for calm, saying the government should remain stable to prevent internal conflict from spreading.
However, police are bracing themselves for more violence following the deaths of two of Ms Park's supporters on Friday.
Media captionSouth Korea is split over President Park's impeachment
A third person, aged 74, is understood to have had a heart attack during Friday's protests, and died on Saturday, according to Reuters.
Ms Park's office said she would not be leaving the Blue House, South Korea's presidential palace, on Friday nor making any statement.
It is understood she will not leave until her own home in Seoul is repaired and cleaned.
Why did Park lose her job?
At the heart of the drama lies the close friendship between the president and Ms Choi.
Ms Choi is accused of using her presidential connections to pressure companies to give millions of dollars in donations to non-profit foundations she controlled.
Ms Park is alleged to have been personally involved in this, and to have given Ms Choi unacceptable levels of access to official documents.
Parliament voted to impeach Ms Park in December and the Constitutional Court has since been deciding whether to uphold or overturn this.

On Friday, a panel of eight judges ruled Ms Park's actions "seriously impaired the spirit of... democracy and the rule of law".
The court said she had broken the law by allowing Ms Choi to meddle in state affairs, and had breached guidelines on official secrets by leaking numerous documents.
Ms Park had "concealed completely Choi's meddling in state affairs and denied it whenever suspicions over the act emerged and even criticised those who raised the suspicions," it said.
But the judges dismissed some charges, including accusations Ms Park had infringed on freedom of the press by creating a media blacklist of cultural figures, and criticism of her response during the 2014 Sewol ferry disaster.

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Massive oil discovery in Alaska is biggest onshore find in 30 years www.mining.com

Some 1.2 billion barrels of oil have been discovered in Alaska, marking the biggest onshore discovery in the U.S. in three decades.
The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices.
The new discovery was made in just the past few days in Alaska's North Slope, which was previously viewed as an aging oil basin.
Spanish oil giant Repsol (REPYY) and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day.
The oil resources lie in a well, called Horseshoe, that's 75% owned by Denver-based Armstrong. Repsol owns the rest of this well.
The discovery is 20 miles south of where the two companies have already found oil in a project known as Pikka. That northern project is already in early development and is 51% owned by Armstrong, which is the operator on both developments.

Of course, this news won't ease rising concern among investors about the stubborn glut of oil in the U.S. There are increasing signs that shale oil producers are preparing to ramp up output after surviving a two-year price war with OPEC.
Related: Booming again: U.S. poised for record oil output
alaska oil repsol
Repsol, which is based in Madrid, is shown here drilling for oil in Alaska.
Repsol has been actively exploring in Alaska since 2008 and has an additional presence in the Gulf of Mexico. Shares of the oil and gas company jumped nearly 3% in Madrid trading on Friday.
The North Slope find comes less than six months after Caelus Energy and private-equity giant Apollo Global Management announced a massive Alaska oil discovery in the waters of Smith Bay.
All of this is a big win for Alaska, which last year had to freeze hiring and limit state employee travel due to trouble in the oil industry. Alaska, which relies on oil and gas taxes for the vast majority of its state revenue, has been hit by the one-two punch of shrinking production from its mature fields and the fact that oil prices have been cut in half in recent years.
Things have gotten so bad that the Trans-Alaska Pipeline System is barely being used these days.
"This is also great news for the State of Alaska," Alaska Governor Bill Walker said in a statement. "We must all pull together to fill an oil pipeline that's three-quarters empty."

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Mongolia-Canada roundtable meeting takes place in Ottawa www.en.montsame.mn

Ulaanbaatar /MONTSAME/ A Roundtable Meeting on Intergovernmental Cooperation of Mongolia and Canada was held on March 9 in Ottawa. The meeting was chaired by the Minister of Mining and Heavy Industry of Mongolia, Mr Ts.Dashdorj and the Assistant Deputy Minister for Foreign Affairs of Canada, Mr Donald Bobiash.

The sides touched on a wide range of issues, including cooperation in politics, economy, investment, defense, science and culture.

Both sides reassured that the cooperation in economy and investment occupies an important position in the bilateral relations, while agreeing to activate collaboration in mining, agriculture, infrastructure and environment. The dignitaries unanimously agreed that the recently enforced intergovernmental agreement on promoting investment gives a great impetus to expand and boost the Mongolia-Canada economic cooperation.

Improving efficiency and broadening the scope of development cooperation was also discussed. The Government of Canada included Mongolia in the list of recipients of official development assistance in 2014, and six projects are being realized in mining, agriculture, public and other sectors.

After exchanging views on international and regional affairs, the sides agreed to continue collaborating in the spheres of strengthening democracy, protecting human rights and freedom, enforcing UN reforms and peacekeeping.

The Mongolia-Canada ties have been strengthening under the Joint Statement on Expanded Partnership and Canada has become a reliable partner and “third neighbor” of Mongolia in North America.

The 7th Mongolia-Canada Roundtable Meeting was concluded with success, having touched on broad range of matters regarding partnership and designating the objectives of future cooperation.

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MBD Business offers #13

MBD facilitates strategic business communications between Mongolian and foreign businesses, conducts targeted market research, and provides consulting for business looking to grow in Mongolia as well as those expanding internationally from within Mongolia. In addition, MDB organizes business programs and official delegations to build connections between the Mongolian and International markets.

MBD's "public face" www.mongolianbusinessdatabase.com" is the number one ranked website on Google for users searching terms related to business in Mongolia, attracting visitors from over 70 countries.

Please review the following MBD business offers package number 13 and feel free to visit www.mongolianbusinessdatabase.com for more information on each offer and contact us.
MBD Admin: contact@mongolianbusinessdatabase.com
976 77109911, 976 98994787, 976 99066062

Modern light sources(LED)(Uzbekistan)
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High quality electric products(Uzbekistan)
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Water heaters(Uzbekistan)"Italian brand"
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Aluminum constructions,Plastic systems(Uzbekistan)
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Window and door construction(Uzbekistan)
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Aluminum heating radiators(Uzbekistan)"Italian brand"
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Armored vehicles (Israel)
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Secure communication solutions (USA)
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Thermowood products(Turkey)
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Tractors (Czech Republic)
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Asphalt and bitumen plant (India)
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Geodome building solutions (South Korea)
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Logistics/Freight forwarding (Poland)
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Roofing sheet, steel coil(China)
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Construction materials(China)
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Mining and industrial service, equipments(Canada)
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Mining and forest industries' equipment(Canada)
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Pharmaceutical machinery (India)
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Surgical instruments (Pakistan)
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Pharmacy products (India)
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Battery re-generator and discharger (South Korea)
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International logistics (Russia)
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Three European countries want to create artificial power island in North Sea www.rt.com

 
Denmark, Germany and the Netherlands have revealed plans to jointly build a giant artificial island in the North Sea with wind farms providing power for 80 million people.
 
The plan envisages the island on the large Dogger Bank sandbank roughly at the center of the North Sea between Denmark, Germany, Britain, Norway, and Belgium, with connections to each. It will have its own runway and harbor.
 
The island would be around six square kilometers in size and connected to wind farms in countries around the sea through a power hub able to distribute energy to consumers across the region.
 
Specialists say that area of the North Sea gets a lot of wind and makes the spot an ideal location for a green power hub.
 
The ambitious project is aimed at cutting costs for customers, according to a statement from Energinet.dk, the Danish national transmission system operator for electricity and natural gas.
 
”Maybe it sounds a bit crazy and science fiction-like, but an island on Dogger Bank could make the wind power of the future a lot cheaper and more effective,” said Torben Glar Nielsen, the company’s technical director in a news release.
 
Energinet.dk said it will generate 70-100 GW of power through windmills connected to the island, that is enough to provide 80 million Europeans with power.
 
The project is supported by Denmark's Energinet.dk and TenneT, the national electricity transmission system operator in the Netherlands.
 
”This project can greatly contribute to a sustainable electricity supply in Northwest Europe. I am happy that we are going to take this step with our Danish colleagues and I look forward to the participation of other transmission system operators and possibly other partners,” said TenneT CEO Mel Kroon.
 
The firms are due to seal the deal at the end of the month and begin a feasibility study. Discussions with other possible partners are still ongoing.
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France warns construction giant Lafarge against participating in Trump’s wall project www.rt.com

 
The French government has warned the French-Swiss firm LafargeHolcim over plans to sell cement for the building of the US-Mexico border wall, the Local France reported.
 
On Thursday, Foreign Minister Jean-Marc Ayrault called on the company to "think carefully" before supplying material to construct the wall, insisting it had social and environmental accountability.
 
The building of a wall along the border between the United States and Mexico was ordered by US President Donald Trump in January to stop illegal immigration. The cost of the project is estimated at $8 billion to $14 billion, but experts say the cost will be much higher, at up to $25 billion.
 
"We are prepared to supply our materials to all types of infrastructure projects in the United States," LafargeHolcim chief executive Eric Olsen told AFP.
 
"We are the leader in cement, so we supply all our customers," he said. "We are here to support the building and development of the United States."
 
The world's leading building materials company LafargeHolcim was created in 2015 by the merger of French cement manufacturer Lafarge and its Swiss counterpart Holcim.
 
Lafarge faced accusations of paying taxes to the Islamic State (IS, formerly ISIS/ISIL) in 2013-2014 to continue operations in northern Syria. Last week the company admitted providing funds to “certain armed groups” and “sanctioned parties” in Syria when it faced operational and security challenges. Lafarge called the decision “unacceptable.”
 
Ayrault brought up the Syria scandal, saying Lafarge "should think about its own interests, as other clients around the world are going to view this with a degree of surprise."
 
LafargeHolcim hopes to be one of the big winners from the $1 trillion infrastructure investment program Trump has promised will renovate bridges, tunnels, roads and airports.
 
The company head said "there is going to be a significant increase in infrastructure spending," although the benefits are not likely to be felt this year "because it takes time for these infrastructure projects to get going."
 
It “will partially affect our business in 2018 and certainly in 2019, 2020 and 2021," added Olsen.
 
LafargeHolcim has production sites in Texas and operations in New Mexico and Arizona, three of the four US states bordering Mexico. It is expected to announce the creation of new US jobs in the coming weeks.
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Canadian miner Kincora leads Mongolian copper rush www.nasdaq.com

LONDON, March 7 (Reuters) - Canadian miner Kincora Copper <KCC.V> plans over coming months to start exploration drilling in Mongolia, its CEO told Reuters, calling the area "one of the last frontiers" for top quality copper assets. With technologies such as electric vehicles expected to stoke demand, the mining industry is keen to discover copper reserves as existing mines get depleted. Kincora's CEO Sam Spring compared Mongolia to Chile, the world's largest copper producer, in the 1970s when it was still under-explored and said he hoped to find another Oyu Tolgoi, using a team with experience of finding tier-one copper assets. Last year Rio Tinto <RIO.AX> <RIO.L> gave the go-ahead for a $5.3 billion expansion of the Oyu Tolgoi mine in the South Gobi desert, one of the world's largest copper deposits. [nL3N18319B] "In the upcoming months, Kincora is looking to drill two targets," Spring said in a telephone interview. One -- named Bayan Tal -- is the first identified since Oyu Tolgoi with similar geology. The other -- East Tsagaan Suvarga -- is in the same mineral system as the existing Tsagaan Suvarga mine, included in the government's list of strategic mineral deposits. So far Kincora has 10 licences, giving it acreage of 15,000 square kilometres (5,800 square miles), and has applied for two more. Spring says the company has overtaken Rio "as the most aggressive group" exploring in this area. Mongolia, almost entirely dependent on coal and copper for foreign export earnings, needs international investment following an IMF-led loan agreement. [nL8N1G518U] It has said it plans to double the amount of land available for exploration of raw materials. [nL2N1GI020] (Reporting by Barbara Lewis; Additional reporting by Susan Taylor in Toronto; Editing by Ruth Pitchford) ((Barbara.hm.Lewis@thomsonreuters.com; +44 207 542 2932; Reuters Messaging: barbara.hm.lewis.thomsonreuters.com@reuters.net))

Read more: http://www.nasdaq.com/…/canadian-miner-kincora-leads-mongol…

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Mongolia sees no change in Oyu Tolgoi copper stake www.finance.yahoo.com

TORONTO/LONDON, March 8 (Reuters) - Mongolia said it has no plans to change the size of its stake in the massive Oyu Tolgoi copper mine, although it is seeking to boost exploration as it works to bolster its finances following an IMF-led loan deal.

Oyu Tolgoi is jointly owned by the government of Mongolia (34 percent) and Turquoise Hill Resources (66 percent), which in turn is 51 percent-owned by mine operator Rio Tinto.

Industry insiders say there is a logic in Mongolia selling down its relatively large state holding, while Rio's stake is relatively small given that it is operator.

Asked whether Mongolia might sell some of its stake, the mining minister said there were no plans for any change for now.

"Our ministry has to find out all possible options that are good for Mongolia and within that framework we are researching all possibilities. But currently, there is no such plan, but it is something that we can watch," Mongolia mining and industry minister Dashdorj Tsedev told Reuters on the sidelines of a conference in Toronto.

Rio Tinto declined to comment.

Geologists and mining executives see Mongolia as one of the world's best copper prospects and some are hoping to find another Oyu Tolgoi.

Also this week, the mining and industry minister said Mongolia aimed to double the amount of land available for exploration and the country hoped to build a copper smelting plant.

(Reporting by Susan Taylor in Toronto and Barbara Lewis in London, editing by David Evans)

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