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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China invests in over 25% of US startups, report says www.chinadaily.com.cn

 
China is flooding Silicon Valley with cash, as 26 percent of US unicorns are currently backed by investors from Greater China, while venture capital investment in US companies is down, according to a report.
 
Among the 32 investors that have backed US startups, Chinese internet giants like Alibaba and Tencent, as well as Chinese venture capitalists, are dominant, noted CB Insights, a New York-based investment research firm. Chinese investors have participated in over 40 American tech deals per quarter since 2014, and joined in major 2015 financing deals with the likes of Uber, Lyft and AirBnB among others, involving nearly $10 billion in US tech funding for 2015 alone.
 
"Start-up fundraising in Silicon Valley wouldn't function without Chinese money. It has changed the landscape," said Chris Nicholson, the CEO of Skymind, a deep learning startup, in an interview with the Washington Post.
 
Meanwhile, venture capital investors in the US have taken a more cautious approach as overall investment deal levels drop. What's more, the flood of crossover investment from mutual funds and hedge funds into private technology startups in the US has fallen drastically.
 
According to the report, the global ambitions of Chinese internet giants, the rise of wealth creation and a dearth of investment opportunities in China are the primary motivations for Chinese investors looking to the US.
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Japan, Russia to cooperate on gas, oil development www3.nhk.or.jp

 
Multiple gas and oil development projects are expected to be part of an economic cooperation plan between Japan and Russia.
 
In the run-up to the Japan-Russia summit from Thursday, the 2 governments have been working to materialize projects between companies from both countries based on an 8-point plan proposed by Japan.
 
Sources say 3 firms are expected to cooperate in building facilities to liquefy natural gas produced at the Sakhalin-2 gas field in Russia's Far East. The firms are Japanese trading houses Mitsui & Company and Mitsubishi Corporation and Russia's government-backed energy giant Gazprom.
 
The sources also say Japan Oil, Gas and Metals National Corporation, Japanese trading house Marubeni, and Russia's state-run oil firm Rosneft are expected to work together in exploring for oil and gas fields.
 
The sources also refer to concerted financing by Japanese financial institutions to Gazprom, as well as cooperation among firms in planned gas-field development in the Arctic.
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ADB and Mongolia implement 10 projects www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Mongolia maintains active cooperation witn the Asian Development Bank in implementing joint projects in Mongolia.
 
These are the projects on Strengthening Institutional Framework and Management Capacity Project, on Dzud Disaster Response, on Regional Improvement of Border Services, on Southeast Gobi Urban and Border Town Development Project —Additional Financing, on Intelligent Transport Systems Development for Mongolia, on Development of Road Safety Policy and Action Plan, on Strengthening of Public Procurement for Improved Project Implementation, on Supporting Financial Sector Development and Stability, on Sustaining Access to and Quality of Education during Economic Difficulties, and on Upscaling Renewable Energy Sector Project.
 
The ADB’s assistance has played an important role in transforming Mongolia into a middle-income economy, and ADB’s country strategy for Mongolia has evolved over the years to match the changing needs of the country.
 
Assistance has been provided to help deepen market-oriented reforms, stabilize and broaden financial markets, establish or rehabilitate key infrastructure, develop agribusiness, improve services in secondary towns and cities, and restructure social services including education and health.
 
ADB is celebrating 25 years of successful partnership with Mongolia in 2016, and is now Mongolia’s largest multilateral development partner, with cumulative assistance of 2 billion USD in grants and loans. The total approved projects in 2015 alone amounted to 275 million USD, and ADB has an active portfolio of projects totaling 1 billion USD.
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Ukraine ‘discovers’ vast gas deposit…already found in the 1980s www.rt.com

 
A Ukrainian exploration vessel has 'discovered' a huge gas field in the Black Sea. However, it turns out the field was already found by the Soviet Union 30 years ago.
"The fact that Ukraine once again began to search for oil and gas on the shelf of the Black Sea indicates a titanic shift in exploration work by the country. According to our estimates, gas reserves amounting to at least 40 billion cubic meters in an area of 7,000 square meters," said Ukrainian Minister for Mineral Resources Nikolay Boyarkin.
 
According to Boyarkin, Ukraine has enough resources to satisfy its gas needs and can produce it on its own.
 
However, it turns out the deposits near Snake Island in the Black Sea were discovered in the 1980s by Soviet explorers. Moreover, the rights for these resources have been disputed by Ukraine and Romania, and in 2009 the International Court of Justice ruled for Romania, leaving Kiev with only 12 miles around the island.
 
"When talking about the 'discovery,' Nikolay Boyarkin described it as a "titanic shift." The "shift” is indeed “titanic,” joked Russian Deputy Prime Minister Dmitry Rogozin on Facebook.
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Qatar wealth fund plans $10bn investment in US infrastructur www.rt.com

 
The head of Qatar's sovereign wealth fund has told US officials it will invest $10 billion in the country’s infrastructure projects, Reuters reported. The move is a boost to the economic plans of incoming American President Donald Trump.
 
According to sources, the chief executive of the Qatar Investment Authority (QIA) Sheikh Abdullah bin Mohamed bin Saud al-Thani talked about the investment with the officials on Monday in Doha. Among those involved was Charles Rivkin, US assistant secretary of state for economic and business affairs.
 
The details on the timing of the investment have not been disclosed.
One of the world's largest sovereign funds the QIA has already said it intends to invest $35 billion in the US over the next five years. Reuters’ sources said it was not clear if the $10 billion investment was part of that.
 
Last year the sovereign fund opened an office in New York to "better access new and existing investment partners." The QIA controls more than $250 billion in funds and says it plans to target various sectors of the US economy and create American jobs.
 
Two years ago the fund, along with other investors, agreed to buy American Express’ business-travel division for $900 million.
 
It has invested in New York’s real estate market, acquiring four apartments at Zeckendorf Development’s 50 United Nations Plaza for around $45 million in 2015.
 
The Doha-based fund is looking to diversify its assets and is pressing ahead with investments overseas. The fund said it would “remain committed to its investments in Europe, Asia, and the Middle East.”
 
Among QIA plans is a $10 billion investment venture with China’s Citic Group. It also aims to invest as much as $20 billion in Asia in the next five years, and expand its offices in Beijing and New Delhi.
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Wells Fargo fails US bankruptcy test for a second time www.bbc.com

 
US bank Wells Fargo has been hit with restrictions after attempts to fix issues with its bankruptcy plan failed.
Banks labelled "too big to fail" must have a so-called "living will" that would allow them to close down without the help of public money.
Wells Fargo will be barred from opening international branches and buying non-bank companies until it satisfies the regulators.
The bank said it was "disappointed" with the regulators' decision.
The Federal Reserve and Federal Deposit Insurance Corporation said that Bank of America, Bank of New York Mellon, JP Morgan Chase, and State Street, whose living wills were also deemed deficient in April, had now adequately addressed their shortcomings. But Wells Fargo had failed to do so.
The Fed and FDIC said the bank had failed to adequately address two of the three big concerns they had identified.
It now has until the end of March to submit another revised plan to fix the failings.
"We believe we will be able to address the concerns raised today in the March 2017 revised submission," Wells Fargo said in a statement.
The issue is the latest blow for the bank which in September was fined $185m for illegally opening accounts to boost sales targets.
In October, Wells Fargo's chief executive, John Stumpf, abruptly resigned in the wake of the scandal over its sales practices.
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Mongolia-Russia Intergovernmental Commission reaches agreement on hydropower plant issue and many others www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The 20th Meeting of the Mongolia-Russia Intergovernmental Commission on Trade, Economy, Science and Technical Cooperation completed on December 13 in Ulaanbaatar.
 
The sides have released protocols on cooperation in trade, economy, road and transport, investment, agriculture, energy and humanities. The ceremony for signing these documents was held at the State House. The documents were inked by the Deputy Prime Minister of Mongolia and Chair of the Mongolian part of the commission, Mr U.Khurelsukh and the Minister of Natural Resources and Environment of the Russian Federation and Chair of the Russian part of the Commission, Mr Sergey E.Donskoy.
 
Mr Donskoy said, summing up the commission meeting, “The 20th Meeting of the Intergovernmental Commission on Trade, Economy, Science and Technical Cooperation completed with success. During this meeting and the previous ones, both sides considered issues covering many areas of bilateral cooperation. Today, the cooperation in economic sphere is facing some difficulties. In 2015, the total external turnover decreased by 22 percent, and the negative trend was carried on throughout 2016. We must combine our efforts to produce tangible results from the political negotiations”.
 
“Today, we addressed a broad range of issues covering Russian-Mongolian commercial and economic transport, agriculture and the environment. Moreover, we also discussed new directions of cooperation. The matters of relations between Mongolia and the Eurasian Economic Union and establishing the Mongolia-Russia-China economic corridor were deliberated. Also, the sides elaborated issues of implementing the medium term program on realizing the strategic partnership and the operations of Ulaanbaatar Railway in details. After careful discussion on the hydropower plant project, based on the bank of Selenge River, the sides agreed to further collaboration. Today’s session revealed that abundance of cooperation potentials awaits the two countries. After all, the substantiating the ideas through actions is on us”, he added.
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Mongolia and Russia to broaden cooperation in energy, tourism, agriculture www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ After completion of the 20th Meeting of the Mongolia-Russia Intergovernmental Commission on Trade, Economy, Science and Technical Cooperation, the chairs of the Mongolian and Russian parts of the commission Mr U.Khurelsukh and Mr Sergey E.Donskoy made a press briefing on December 13 at the State House.
 
The Deputy Premier of Mongolia, Mr U.Khurelsukh presented the summary of results of the commission’s two-day meeting.
 
The results were introduced as the following:
 
-Intensification of cooperation in commerce, road and transport, investments, agriculture, energy and humanities was mutually agreed and confirmed. For instance, both sides acclaimed the establishment of Medium Term Program on Development of Strategic Partnership, and pledged commitments to its full implementation.
 
-The Russian side pledged support for the settling within the first quarter of 2017 an issue of forming a research team for feasibility on establishing Free Trade Agreement between Mongolia and the Eurasian Economic Union.
 
-The commission agreed to formalize a cooperation protocol in the nearest possible future between Mongolia’s General Customs Administration and Russia’s Federal Customs Service on sustaining the operations of Mongolia-Russia border checkpoint of Altanbulag-Khiagt.
 
--The commission approved organizing a meeting of financial institutions by the central banks of Mongolia and the Russian Federation in 2017. The sides also agreed to train up to 70 Mongolian students in universities under the Russia Ministry of Transport, in order to improve the performance of Ulaanbaatar Railway joint venture, cooperation in developing infrastructure and train professional cadres.
 
-The intergovernmental agreement on rail transport has been finalized and agreed to sign within the first quarter of 2017.
 
-Russian energy companies have conveyed their interest to establish joint companies in Mongolia, and to be involved in realization of new projects and renovation of Mongolia’s energy facilities. The Russian side promised to finalize the issue by next April of return of the geotechnical studies to Mongolia, which studies were conducted between 1960 and 1980 by Russian experts and have been kept in the archive of Rosgeology foundation.
 
-The commission accorded to resume the joint program on improving health of Mongolian livestock and start the second phase. It has been also agreed to consider the trades of agricultural products and to promote new agricultural project and businesses.
 
-The commission resolved to hold regular annual meetings of Mongolia-Russia joint council on preventing forest fires. In connection with Russia’s announcing 2017 as a year for Ecology and Specially Protected Areas, the sides agreed to organize an art competition among children.
 
-Mongolia and Russian sides confirmed their support for stimulating cooperation between film industries, organizing meetings of movie directors and producers, exchanging actors for organization of film festivals. The sides also agreed on collaborating in improving tourism services and security of travelers and promoting transboundary tours.
 
In addition, the commission decided to hold its 21st meeting in February of 2017 in Russia.
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Canada’s Capstone to hire back laid-off workers thanks to copper price rally www.mining.com

 
The recent and sustained rally in copper prices has prompted Canadian Capstone Mining (TSX:CS) to attempt hiring back most of the workers it had to lay off in October at its Minto mine, Yukon's only copper operation..
 
The Vancouver-based miner is asking the territorial government to approve an amendment to its mining plan, which would allow it to start a new open pit on the property, Yukon News reports.
 
The Minto copper mine, located about 240 kilometres northwest of Whitehorse, near Pelly Crossing, shut all open-pit mining operations on Oct. 1, which meant letting go 58 workers contracted through Pelly Construction Ltd. were laid off.
 
Resuming some open pit operations at the new deposit on site would allow the company to bring back between 40 and 45 people to begin working in January.
 
Copper prices, in steady decline since 2011 due to China’s slowing economic growth, have spiked over the past two months, boosting both the stock prices for copper mining companies and the hopes of developers with projects in their pipeline.
 
The red metal was trading at around $2.6 per pound in New York Wednesday morning, and it’s has been hovering around that price for a week, significantly higher than its $1.96/lb value of early in the year.
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'Community commerce' takes root www.chinadaily.com.cn

 
Transaction value has become secondary for video bloggers and news feeds as "community commerce" took center stage during this year's annual shopping extravaganza on the Taobao platform.
Alibaba Group Holding Ltd regards mom-and-pop merchants as the best fit to foster personal ties among online buyers, pushing the e-commerce giant toward its long-held yet unmet goal for social media and entertainment.
 
In the lead-up to and during the Dec 12 sales gala, more than 5,000 live streams were broadcast daily on Taobao, attracting more than 10 million viewers on topics from fashion trends to cooking tips, according to company data.
 
Around 40 percent of the viewers end up visiting the online shops being promoted.
 
These are all part of Alibaba's drive to build a consolidated online ecosystem encapsulating e-commerce, mobile media and digital entertainment, said CEO Daniel Zhang.
 
"Through user-generated content, we want people to see Taobao more as the latest reflection of the mainstream lifestyle of the younger generation," he said.
 
Other efforts include a Q&A column Wen Dajia (ask others), a Quora-like feature where questions are raised, answered and edited by the community of Taobao users. On Dec 12, more than 5 million users asked questions and some 10 million gave their feedback.
 
Based on their shopping habits, the site encourages users to provide suggestions to peers on certain merchandise. It then filters and redirects users into groups with tags such as workout, pregnancy and cosmetics.
 
Chen Lei, a Taobao director who oversees live streaming for the site, said Taobao is geared toward professionally generated content.
 
"In the future, Taobao will continue to lead merchants, highly engaged users and live broadcast professionals to create a consumption-oriented live broadcasting platform," he said.
 
By blending e-commerce and social media, Alibaba has tried to shed the image of being a giant only in e-commerce, said Li Chao from iResearch Consulting Group.
 
While occupying only a small portion of the pie, Taobao, which resonated well among Chinese youngsters, helped Alibaba more than double its mobile revenue in the second quarter of 2016.
 
"The level of engagement Alibaba is able to create is beyond what we consider with search companies and social media companies. They're investing a lot in making their tools have social engagement like Facebook," Gil Luria, an analyst at Wedbush Securities Inc said in a research note.
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