1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

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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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Investors eager to snap up Snap shares after successful IPO www.rt.com

 
Snapchat parent company Snap begins trading on the New York Stock Exchange on Thursday under the ticker name SNAP after the popular messaging app raised $3.4 billion in its initial public offering (IPO).
 
Snap’s offering was priced above the expectations at $17 a share. The IPO was oversubscribed by more than ten-times which means the shares could have been priced at as much as $19.
 
The stock price places the company's market value at around $24 billion. Snap was initially targeting $19.5 billion to $22.3 billion range.
 
According to Reuters sources, the company wanted to attract longer-term investors, like mutual funds, rather than hedge funds which could sell the shares quickly for a fast profit.
 
Snap became one of the highest-profile stock market debuts in years thanks to high demand from investors.
 
It is the most valuable American technology company to go public since Facebook nearly five years ago. Snap’s market value is more than double the size of rival Twitter.
 
Experts say the sale was well timed, as investors look for fresh opportunities after 2016 marked the slowest year for IPOs since 2008.
 
The Los Angeles-based company, Snap has enjoyed strong revenue growth in recent years, with earnings climbing nearly seven-fold in 2016 to $404.5 million.
 
However, its net loss widened 38 percent last year. The company faces intense competition from larger rivals such as Facebook's Instagram as it grapples with decelerating user growth. The number of people using Snap’s app slowed in the second half of 2016, according to Bloomberg.
 
Snap is the parent company of popular photo sharing app Snapchat which is beloved by teenagers and people under 30 for applying bunny faces and vomiting rainbows onto selfies.
 
The company, which launched in 2011, allows users to send pictures and videos which then disappear after 10 seconds. The company says it has 158 million users daily with 2.5 billion snaps sent each day.
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Mongolian Ambassador presents credentials to Queen Elizabeth www.montsame.mn

Ulaanbaatar /MONTSAME/ On March 1, S.Bayar Ambassador Extraordinary and Plenipotentiary of Mongolia to the United Kingdom of Great Britain and Northern Ireland presented his diplomatic credentials to the Queen Elizabeth II at the Buckingham Palace.

Mongolia and the United Kingdom established diplomatic relations in 1963. Ambassador S.Bayar is the 13th Mongolian Ambassador to the UK, who presented diplomatic credentials since the establishment of the diplomatic relations.

Following the ceremony to present diplomatic credentials, Ambassador S.Bayar introduced the staff of the Embassy of Mongolia in London to the Queen Elizabeth II and talked about bilateral relations and collaboration between Mongolia and the UK.

Previously, Ambassador S.Bayar served as an Ambassador of Mongolia to the Russian Federation and is 25th Prime Minister of Mongolia.

 
 
 
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E.Bat-Uul to enter race for Presidential election nominee www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Today, a well-known politician and former mayor of Ulaanbaatar city E.Bat-Uul announced that he is going to enter a Democratic Party (DP) race to determine the nominee for the upcoming Presidential election.
 
According to a revised rule of the party, its National policy committee will convene and candidates for the presidency rally will be officially announced.
 
The nominee from the DP for the Presidential election will be selected through a poll involving all members of the party, similar to how the party had elected its leader.
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Bitcoin tops gold for first time ever www.bbc.com

 
For the first time, a unit of the digital cryptocurrency Bitcoin has exceeded the value of an ounce of gold.
It peaked at $1,265 on Tuesday while a troy ounce of gold stood at $1,233.
The current high is attributed to surging demand in China where authorities warn it is used to channel money out of the country.
The past months' surge is a major reversal for Bitcoin, which plummeted in value in 2014 after the largest exchange collapsed.
The value of Bitcoin has been volatile since it was first launched in 2009, and many experts have questioned whether the crypto-currency will last.
Earlier this year, Chinese authorities cracked down on Bitcoin trading in an attempt to stop money flowing out of the country illegally.
But the closer scrutiny from Beijing only briefly sent the currency lower. After it had soared to record highs in January, it has since picked its steady rise in value.
How Bitcoin works
Bitcoin is often referred to as a new kind of currency. Yet like all currencies its value is determined by how much people are willing to exchange it for.
To process Bitcoin transactions, a procedure called "mining" must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.
For each problem solved, one block of Bitcoins is processed. In addition the miner is rewarded with new Bitcoins.
To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of new Bitcoins are produced each day.
There are currently about 15 million Bitcoins in existence.
To receive a Bitcoin, a user must have a Bitcoin address - a string of 27-34 letters and numbers - which acts as a kind of virtual post-box to and from which the Bitcoins are sent.
Since there is no register of these addresses, people can use them to protect their anonymity when making a transaction.
These addresses are in turn stored in Bitcoin wallets, which are used to manage savings.
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Venezuela running out of cash www.rt.com

 
The Central Bank of Venezuela says the country is down to just $10.5 billion in foreign reserves. At the same time, Caracas has to meet debt obligations of $7.2 billion this year.
 
The country had nearly $30 billion in reserve five years ago. In 2015, it was down to $20 billion. According to economists, the trend can't go on much longer, but it’s not easy to predict how long it would take Venezuela to reach the bottom.
 
"The question is: Where is the floor? If oil prices stagnate and foreign reserves reach zero, then the clock is going to start on a default," says Siobhan Morden, head of Latin America fixed-income strategy at Nomura Holdings, as quoted by CNN Money.
 
Nearly $7.7 billion of the country’s remaining reserves is in gold, according to the latest financial report for 2016. Venezuela had to ship gold to Switzerland to foot debt bills last year.
 
Dwindling reserves are only exacerbating the humanitarian crisis in the country. The economic blow has led to food and medical shortages, as well as skyrocketing prices.
 
Inflation is expected to rise to 1,660 percent this year and 2,880 percent in 2018, according to the IMF. Among the key factors boosting inflation experts see the crashing bolivar, huge government spending, poor management of the country's infrastructure, as well as high level of corruption.
 
However, oil prices averaging $55 remain the major problem for the country’s economy. As the largest holder of reported oil reserves in the world, Venezuela produced over 2.4 million barrels of crude and condensates per day at the end of the last year, according to ministry data. Oil shipments make up more than 90 percent of the country's exports.
 
All in all that makes it more and more difficult for Caracas to pay debts and import food, medicine and other essentials for its citizens. The country's imports dropped 50 percent from a year ago, according to Venezuelan research firm Ecoanalitica.
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Russia may begin new gas supplies to China in 2018 www.rt.com

 
Deliveries of Russian natural gas to China via the so-called eastern route or the Power of Siberia pipeline could start next year, according to Gazprom’s Deputy Chairman Alexander Medvedev.
 
"We expect that the date of supplies [launch] will be agreed with the Chinese side next year," Medvedev told TASS.
 
He added that they could agree to start deliveries if the pipeline system is ready for imports and exports.
 
Medvedev also said Gazprom is confident China will want gas supplied via the western route and is continuing negotiations with Beijing.
 
According to him, there is no doubt China will have a growing demand for gas, particularly due to the environmental factor in the coal-dependent country.
 
The Power of Siberia pipeline is one of the biggest Russia-China projects. The deal took more than a decade to negotiate.
 
In May 2014, Gazprom and China National Petroleum Corporation (CNPC) signed a $400 billion 30-year framework to deliver 38 billion cubic meters of Russian gas to China annually.
 
CNPC Vice President Xu Wenrong said in October the eastern route will become operational by 2020. Russia's ambassador to China, Andrey Denisov added the pipeline construction was on schedule.
 
According to Gazprom, 115 kilometers (71 miles) of the pipeline's 3,000 kilometers across Russian territory were constructed in 2015.
 
Russia will be one of the main providers of the natural gas increasingly needed by China. The two countries plan to build another pipeline - Power of Siberia-2 or the western route that will deliver another 30 billion cubic meters of Russian natural gas.
 
Beijing may increase imports of gas to 190-270 billion cubic meters per year as it aims to shift from coal to eco-friendly energy, said CNPC International Department head Li Yueqiang.
 
According to him, in 2015 China used 200 billion cubic meters of gas, of which a quarter was imported.
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Mongolia caps size of new 7-year US dollar bond issue at $600m www.nasdaq.com

By Daniel StantonSINGAPORE, March 2 (IFR) - The Government of Mongolia [MGMG.UL], rated Caa1/B-/B-, has capped the size of new US dollar seven-year bonds at $600 million and given guidance for a new money component alongside an exchange offer. Holders of $476 million of Development Bank of Mongolia's [DEVBM.UL] state-guaranteed March 2017 bonds <XS075556730=TE> agreed to exchange them for new sovereign bonds. These will be exchanged at par for new bonds yielding 8.75 percent, the minimum yield that was indicated for the offer. Since the old DBM bonds were issued under Regulation S and were not sold in the US, while the sovereign bonds are being sold under 144A/Reg S, it has been decided to allow new investors to buy into the offering. Guidance for the new money tranche has been indicated at 8.25 percent area, meaning that those investors will pay a premium to face value. The combined size of both tranches is capped at $600 million, since $580 million is needed to redeem the DBM bonds on March 21. Credit Suisse and JP Morgan are managing the transaction, which will price today. Mongolia reached a funding agreement with the International Monetary Fund on February 19, without which it had been expected to struggle to repay the DBM bonds. (Reporting by Daniel Stanton; editing by Vincent Baby) ((daniel.stanton@thomsonreuters.com; +65 64174548; Reuters Messaging: daniel.stanton.thomsonreuters.com@reuters.net))

Read more: http://www.nasdaq.com/…/mongolia-caps-size-of-new-7year-us-…

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BBC Cardiff Singer of the World: Two Mongolians reach finals www.bbc.com

BBC Cardiff Singer of the World has announced the names of the 20 singers who will compete in the televised finals in June 2017. Among them are two Mongolians, namely, the baritone G.Ariunbaatar, who is a Soloist of the Mariinsky Theatre of Russia and Honoured State Artist of Mongolia along with tenor B.Batjargal who is a soloist of the Academic Theatre of Opera and Ballet of Mongolia.

The televised finals are split into four rounds, in which finalists will perform programmes of operatic and concert works, accompanied by the BBC National Orchestra of Wales and the Orchestra of Welsh National Opera.

BBC Cardiff Singer of the World was established in 1983 by BBC Wales, and has since become one of the most popular classical music competitions in the world. The winner of the main prize will receive £15,000 and the Cardiff Trophy, while the World Song Prize, awarded to the best singer of Lieder and other songs, carries a £7,000 prize and trophy.

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UN Security Council Sanctions lists available through FRC website www.montsame.mn

Ulaanbaatar /MONTSAME/ The Financial Regulatory Commission of Mongolia has put on its official website a link to the Consolidated Sanctions List, which includes all individuals and entities subject to sanctions measures imposed by the UN Security Council. Member States are obliged to inform the list and implement the measures specific to each listed name as specified on websites of the related sanctions committee of the Security Council.

Interested bodies can visit “Fighting against money laundering and terrorism’ section of www.frc.mn website to get the list. The commission also warns commercial banks, non-banking financial institutions, insurers, professional institutions, who participate in stock markets, insurance and investment actions, to inform suspicious transactions within 24 hours to the Financial Information Unit of the Bank of Mongolia.

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American Express escalates high-fee card competition www.reuters.com

 
American Express Co (AXP.N) will begin to offer this month $200 a year in Uber rides, plus other new perks, on its Platinum charge cards as it fights to protect its high-end market from JPMorgan Chase & Co (JPM.N) and Citigroup Inc. (C.N)
 
The new Platinum benefits will include richer credits for spending, access to more airport lounges, special dining and entertainment options and free use by family members of an American Express Gold card, according to Janey Whiteside, general manager of Global Charge Products, Benefits & Services for American Express.
 
The changes, which will start on March 30, will also raise the annual account fee for card holders to $550 from $450.
 
Both JPMorgan and Citigroup, which has a $450-per-year Prestige card with its own mix of spending credits and perks, are using cards to try to eat away at American Express profit margins, which have long been higher than their own. The banks have also acted because banking regulations imposed after the financial crisis generally favor investing in card businesses over capital markets.
 
In August, JPMorgan stirred up the high-end card market when it introduced its $450-per-year Chase Sapphire Reserve card with an initial sign-up bonus worth as much as $1,500, plus $300 in annual travel credits and high credits for spending. The bank started making the cards out of metal to give them a luxurious feel.
 
American Express will now start using metal for its Platinum cards. Since 1999 it has been using metal for its Centurion card which carries an annual fee of $2,500 on top of an initiation fee of $7,500.
 
The new Platinum benefits include up to $200 of payments for Uber rides within the United States. The card already offers $200 in annual credits for airline fees.
 
The increased competition has been a boon to websites such as NerdWallet.com and ThePointsGuy.com, which compare card costs and benefits from a consumer viewpoint.
 
American Express began working on the changes in the Platinum card before JPMorgan brought out its Sapphire Reserve card, Whiteside said in an interview on Wednesday.
 
"This is a response to listening to our customers," she said. "We are always looking at ways to bring value to our card members."
 
American Express kicked off the premium card market in 1966 when it introduced its Gold card, Whiteside said. It brought out the Platinum card in 1984.
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