1 MONGOLIA PM FACES LIKELY CONFIDENCE VOTE AMID CORRUPTION CLAIMS WWW.AFP.COM PUBLISHED:2025/06/02      2 RIO TINTO FINDS ITS MEGA-MINE STUCK BETWEEN TWO MONGOLIAN STRONGMEN WWW.AFR.COM PUBLISHED:2025/06/02      3 SECRETARY RUBIO’S CALL WITH MONGOLIAN FOREIGN MINISTER BATTSETSEG, MAY 30, 2025 WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/02      4 REGULAR TRAIN RIDES ON THE ULAANBAATAR-BEIJING RAILWAY ROUTE TO BE RESUMED WWW.MONTSAME.MN PUBLISHED:2025/06/02      5 MONGOLIAN DANCE TEAMS WIN THREE GOLD MEDALS AT THE WORLD CHAMPIONSHIP CHOREOGRAPHY LATIN 2025 WWW.MONTSAME.MN  PUBLISHED:2025/06/02      6 RUSSIA STARTS BUYING POTATOES FROM MONGOLIA WWW.CHARTER97.ORG PUBLISHED:2025/06/02      7 MONGOLIA BANS ONLINE GAMBLING, BETTING AND PAID LOTTERIES WWW.QAZINFORM.COM PUBLISHED:2025/06/02      8 HOW DISMANTLING THE US MILLENNIUM CHALLENGE CORPORATION WILL UNDERMINE MONGOLIA WWW.THEDIPLOMAT.COM PUBLISHED:2025/05/30      9 ORBMINCO ADVANCES BRONZE FOX PROJECT IN KINCORA COPPER PROJECT IN MONGOLIA WWW.DISCOVERYALERT.COM.AU PUBLISHED:2025/05/30      10 MONGOLIA SOLAR ENERGY SECTOR GROWTH: 1,000 MW BY 2025 SUCCESS WWW.PVKNOWHOW.COM PUBLISHED:2025/05/30      ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХ, С.БЕРДЫМУХАМЕДОВ НАР АЛБАН ЁСНЫ ХЭЛЭЛЦЭЭ ХИЙЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     Н.НОМТОЙБАЯР: ДАРААГИЙН ЕРӨНХИЙ САЙД ТОДРОХ НЬ ЦАГ ХУГАЦААНЫ АСУУДАЛ БОЛСОН WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/02     Л.ТӨР-ОД МҮХАҮТ-ЫН ГҮЙЦЭТГЭХ ЗАХИРЛААР Х.БАТТУЛГЫН ХҮНИЙГ ЗҮТГҮҮЛЭХ ҮҮ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ЦЕГ: ЗУНЫ ЗУГАА ТОГЛОЛТЫН ҮЕЭР 10 ХУТГА ХУРААЖ, СОГТУУРСАН 22 ИРГЭНИЙГ АР ГЭРТ НЬ ХҮЛЭЭЛГЭН ӨГСӨН WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООЖ, ШАЛГАНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ГАДНЫ КИБЕР ХАЛДЛАГЫН 11 ХУВЬ НЬ УИХ, 70 ХУВЬ НЬ ЗАСГИЙН ГАЗАР РУУ ЧИГЛЭДЭГ WWW.ZINDAA.MN НИЙТЭЛСЭН:2025/06/02     НИЙТИЙН ОРОН СУУЦНЫ 1 М.КВ-ЫН ДУНДАЖ ҮНЭ 3.6 САЯ ТӨГРӨГ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     ГОВИЙН БҮСИЙН ЧИГЛЭЛД УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30     СОР17 УЛААНБААТАР ХОТНОО 2026 ОНЫ НАЙМДУГААР САРЫН 17-28-НД БОЛНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/05/30     НИЙСЛЭЛИЙН ТӨР, ЗАХИРГААНЫ БАЙГУУЛЛАГЫН АЖИЛ 07:00 ЦАГТ ЭХЭЛЖ 16:00 ЦАГТ ТАРНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30    

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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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Cameco to lose $1.3bn as Japan’s TEPCO cancels uranium contract www.mining.com

Uranium miner Cameco (TSX:CCO; NYSE:CCJ) is weighing its options after a key Japanese customer attempted to cancel its contract, which would mean $1.3 billion in lost revenue for the Canadian company.

Tokyo Electric Power Company Holdings (TEPCO), the operator of Japan’s wrecked Fukushima nuclear plant, issued a termination notice for a uranium supply contract on Jan. 24 and, earlier this week, it said it would not accept a delivery that was scheduled for Feb.1.

Tepco’s termination of the contract would affect about 9.3 million pounds of uranium deliveries through 2028, worth about $1.3 billion in revenue.
Such contract cancellation would affect about 9.3 million pounds of uranium deliveries through 2028, including about 855,000 pounds annually in 2017, 2018 and 2019, Cameco said.

Shares collapsed on the news. They were trading down 12.5% to Cdn$14.50 in Toronto at 1:00 pm, and 13.3% down in New York to $11.06 at 1:26 pm ET.

Cameco said the Japanese power company has cited forces beyond its control — specifically government regulations arising from the 2011 Fukushima nuclear accident — that have prevented the operation of its nuclear plants.

The Canadian firm insisted that there's no basis for terminating the contract and considers TEPCO to be in default. It said it will pursue its rights — including binding arbitration.

“We are surprised and disappointed that TEPCO is seeking to terminate its contract given all the past productive discussions we have had to date,” Cameco’s president and CEO Tim Gitzel said in the statement.

The company noted it has sufficient financial capacity to manage any loss of revenue in 2017 as a result of the dispute.

Including income coming from TEPCO, Cameco expects 2017 earnings will range between $2.1 billion to $2.2 billion. More information on the uranium miner’s financial position will be released next week.

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Housing price fall brings opportunities to investors www.gogo.mn

Mongolia’s construction sector constitutes about 4.0 percent of the national GDP. The sector have had its ups with annual growth of 10-16 percent and is now having its downs impacted by the restrictions in connection with the housing mortgage loans.
Only a quarter of Mongolia’s 859.1 thousand families are living in housing apartments connected to central heating and power networks. Also, some 204.5 thousand families (40 thousand a year approximately) in Ulaanbaatar are expected, pursuant to the government's action plan, to move from Ger districts to housing apartments in the next five years, according to a study provided by the Ministry of Construction and Urban Development.
Currently, the construction companies are managing their marketings, by receiving old apartments or cars as advance payment and offering more viable options to their customers. Some companies are taking no pre-payment at all and instead are giving out apartments on conditions with monthly lease.
Nevertheless, the current drop of properties' price may be an opportunity for businesspeople who are interested in investing in the construction sector of Mongolia.

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UB City to cooperate with Dutch company for better solution to parking www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On Fabruary 1, P.Bayarkhuu, Deputy Mayor of Ulaanbaatar city in charge of infrastructure and Ger district area development signed a Memorandum of Understanding on cooperation with Weiss Co.Ltd. on introducing advanced technology to public transport of the capital city.
The MoU sets out to improve the situation in Ulaanbaatar of roads, car parkings and public transport. Mr Bayarkhuu shared, after signing the document, that a project named “Smart Parking” will be realized and that a working group will be formed immediately to launch implementation.
Weiss’s advisory council president, Mr Paul Staartjes expressed his confidence in successful cooperation.
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China becomes more efficient, cleaner in energy use www.chinadaily.com.cn

 
BEIJING - China made progress in energy efficiency and clean energy in 2016.
Energy use per unit of GDP fell 5 percent in 2016, according to the National Bureau of Statistics (NBS), a good start to reducing the figure by at least 15 percent by 2020.
Clean energy, including hydropower, wind power and natural gas, accounted for 19.5 percent of China's total energy consumption last year, up from 17.9 percent in 2015.
Coal accounted for 64 percent of total consumption in 2015, with the proportion to be cut to 58 percent or less by the end of 2020.
The push for efficient, clean energy is partly a response to environmental degradation.
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PM commends senior economist’s devotion www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Prime Minister J.Erdenebat received State Honored Economist B.Osorgarav who initiated ‘Helping Mongolia overcome economic difficulties’ campaign on January 31.
On January 30, the senior economist held a press conference to inform the public of his initiative, and to announce that he would donate MNT 10 million, 10 horses and a gold ring to the Government to help recover the economy. The State Honored Economist has dedicated 50 years of his life to the country.
Following the economist’s call for joining the initiative, MP B.Delgersaikhan announced that he would be donating MNT 100 million yesterday, January 31.
According to B.Osorgarav’s estimation, if every citizen donates MNT 1000-2894, MNT 214 billion 692 million can be collected. And if government higher officials including MPs each donate MNT 20 - 100 million, and NGOs and other entities donate MNT 2-2.5 million, Mongolia can repay its debts and recover its economy.
The Prime Minister said, “There’s a Mongolian proverb that says, ‘Better break your bone than name’, and the name of our country is what’s most important to us. As such, there was a time when I said at a meeting that ‘In order to overcome the economic difficulty, and save the name of our country, and if necessary, I will turn to the people of Mongolia without shame’. However, as of today, no such situation has unveiled itself before us. Mongolia can repay its debt, and overturn the economic decline”.
“Most importantly, I truly respect your patriotic spirit and initiative to call for national integrity”, the Prime Minister highlighted.
The senior economist expressed that he would continue with the initiative which has allegedly gathered support from more than approximately 100 thousand people since MP B.Delgersaikhan’s announcement.
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Apple: iPhone 7 helps US giant return to growth www.bbc.com

 
Apple reported its highest ever quarterly revenue, as the iPhone 7 helped it return to a growth in sales in the final three months of 2016.
In its first full quarter since the iPhone 7's release, Apple reported net sales of $78.4bn (£62.3bn), up 3% on the same period a year ago.
Chief executive Tim Cook said Apple had sold "more iPhones than ever before".
It had also set new records for revenues from its Mac, Apple Watch and services divisions, he said.
Apple shares rose 3% in after-hours trading following the results.
iPhone recovery
"We're thrilled to report that our holiday quarter results generated Apple's highest quarterly revenue ever, and broke multiple records along the way," Mr Cook said.
Apple had suffered three quarters in a row of falling revenue as mounting competition, particularly from Chinese rivals, hit sales of its flagship iPhone.
In April, the firm reported its first fall in quarterly revenue since 2003, hurt by slowing business in China.
A continued slowdown in iPhone sales - which account for two thirds of income - led to Apple reporting a drop in annual revenue in October, the first such fall in 15 years.
Mr Cook said demand was particularly high for the larger iPhone 7 Plus during the quarter.
The iPhone 7 models - which were released in September and included an improved camera but ditched the traditional headphone socket - now account for about 17% of Apple's phone sales, according to research firm Localytics.
Apple said it had sold 78.3m iPhones in the three months to 31 December, up from 74.8m a year before.
It reported revenue of $54.3bn from iPhone sales, along with $7.2bn from the Mac, $5.5bn from the iPad and $4.0bn from other products, including the Apple Watch.
Services boom
Revenues from its services division - including the App Store, Apple Music and iCloud - were $7.1bn. The segment is now close to overtaking the Mac as Apple's second biggest source of revenue.
"Services obviously continues to be a real success story for them," said Jackdaw Research analyst Jan Dawson. "It's one of the fastest-growing segments they have, driven largely by the App Store."
Analysts expect growth in services to help offset declining hardware sales as the smartphone market matures.
Apple executives warned that some customers were holding back on phone upgrades in anticipation of the 10th anniversary iPhone later this year.
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Warren Buffett: I bought $12 billion of stock after Trump won www.reuters.com

 
The failure of Warren Buffett's favored candidate to capture the White House has not dimmed the billionaire's appetite for stocks.
Buffett revealed that he has bought $12 billion of stock for his company Berkshire Hathaway Inc (BRKa.N) since the Republican Donald Trump beat Democrat Hillary Clinton in the Nov. 8 U.S. presidential election
In an interview with talk show host Charlie Rose that aired on Friday night, Buffett suggested that Berkshire's post-election stock purchases overall were even higher, reflecting stocks that his deputies Todd Combs and Ted Weschler bought.
"We've, net, bought $12 billion of common stocks since the election," Buffett said. "The guys that work with me, the two fellows, they probably bought a little bit or sold a little bit too."
The speed with which Berkshire is buying stocks is unusual. It has spent in fewer than three months roughly half what it spent on equities in the three years ending Sept. 30, 2016.
Buffett demurred on whether Berkshire has added to its stakes in the four largest U.S. airlines: American Airlines Group Inc (AAL.O), Delta Air Lines Inc (DAL.N), Southwest Airlines Co (LUV.N) and United Continental Holdings Inc (UAL.N).
Berkshire revealed those stakes in mid-November, surprising many given Buffett's long aversion to the sector.
Asked why Berkshire dove in, Buffett said: "It was in large part my decision."
Berkshire will likely by Feb. 14 disclose some of the stocks it has bought, in a regulatory filing listing most of its U.S. holdings as of year end.
The Omaha, Nebraska-based conglomerate owned $102.5 billion of equities as of Sept. 30, excluding its stake in Kraft Heinz Co (KHC.O).
U.S. stocks rose after Trump was elected, reflecting investor optimism that his policies might boost economic growth, aided by a Congress also under Republican control.
Buffett said Trump is unlikely to reach his goal of 4 percent annual growth, but that growth at half that level would over a generation add $19,000 per person to real gross domestic product.
"Two percent will produce miracles," Buffett said.
The U.S. economy grew by 1.6 percent last year, the lowest since 2011.
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JTB to invest in Indonesian tour firm www3.nhk.or.jp

 
Japan's biggest travel agent is investing in a leading Indonesian tourism company. JTB hopes to increase the number of Indonesian visitors to Japan.
JTB officials say the travel agent will acquire a 40 percent stake in Panorama Tours Indonesia.
CEO Hiroyuki Takahashi told reporters that Indonesia, the biggest country in Southeast Asia, shows promise as a tourism market.
Japanese government officials estimate about 270,000 Indonesian travelers came to Japan last year. That's up more than 30 percent from 2015.
Takahashi said JTB plans to develop and sell tours that feature attractions all over Japan.
Takahashi also said he hopes JTB tours will contribute to the revitalization of Japan's local communities.
Panorama Tours has more than 50 outlets in Indonesia. JTB's tours will be marketed through Panorama's offices and website.
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Slovenia tourism boosted by Melania factor www.rt.com

 
The number of American visitors to Slovenia significantly increased at the end of the last year, according to data published by the country's national statistics office.
Slovenia being the home country of the new US First Lady Melania Trump is seen as a key factor.
“The interest in Slovenia hasn’t only increased since Trump’s victory but already began when he announced his presidential candidacy. Slovenia, as a boutique holiday destination, has become better known among the US public and media. Due to the increased interest, the Slovenia Tourism Board (STB) plans its most intense digital campaign ever in the US market for 2017,” said STB spokesperson Livija Kostantinovic earlier this months as quoted by AFP.
The number of overnight stays by US tourists jumped by 15.4 percent in December and 10.2 percent in the whole of 2016.
Slovenia also saw a 7.6 percent increase in the number of tourist overnight stays with some 11.1 million people visiting the country last year against a rise of 7.2 percent in 2015.
The overall figure of foreign tourist stays rose 10.3 percent in the whole year with most visitors coming from Italy, Austria, Croatia, Germany and Serbia.
Melania Trump's hometown of Sevnica was one of the first to catch the trend of the US First Lady factor.
A local bakery started selling “First Lady” apple pies from apples grown in Slovenia, featured a letter ‘M’ on top and a paper US flag attached.
Melania cakes, Melania pancakes, and Presidential Burgers are offered in restaurants and cafes across the small town nestled in the foothills of the Alps.
The government expects tourism to add to Slovenia's economy that is expected to expand by 2.9 percent this year versus some 2.3 percent in 2016.
Slovenia is famous for its affordable skiing and snowboarding resorts offering holiday-makers winter atmosphere of snow-covered mountains and 300 kilometer-long slopes.
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Eurozone inflation at highest in four years www.rt.com

 
Inflation in the eurozone has jumped by more than expected to 1.8 percent in January from 1.1 percent in the previous month, the statistics authority Eurostat said. The inflation pickup came on the back of a sharp rise in energy prices.
According to the data, the annual increase in consumer prices in January was the fastest since early 2013. The figure was almost in line with the European Central Bank’s target which wants to keep inflation just below two percent.
Core inflation which excludes energy and food costs remained at 0.9 percent in January.
Some policy makers have already put into question the European Central Bank’s (ECB) appropriate degree of monetary stimulus for the 19-nation currency bloc, calling for the bank to scale back its bond-buying program.
“The renown ‘powerhouse’ of the eurozone is now putting significant pressure on the ECB President [Mario Draghi] as Euroskeptics are quickly pointing out that stimulus measures are falling far short of creating a balanced and improved bloc state..,” the head of Dealing at Foenix Partners, Alex Lydall told the Guardian.
“Draghi is erring on the cautious side, but this type of data makes it harder for him to defend his position,” Holger Sandte, chief European analyst at Nordea Markets in Copenhagen was cited as saying by Bloomberg. “New projections could force him into changing his tone.”
Eurostat statistics show eurozone economic growth accelerated at the end of 2016, up by 1.8 percent in the fourth quarter from a year earlier. The euro area outperformed the US economy last year, growing by 1.8 percent in comparison with the United States’ 1.6 percent growth.
The eurozone's unemployment rate fell to 9.6 percent in December, which is the lowest rate since May 2009. There are still more than 20 million people out of work in the EU, including 15.571 million in the euro area.
Germany’s job market has remained as strong as ever with the jobless rate down to 5.9 percent. Greece suffered the worst jobless rate (at 23 percent in October 2016) followed by Spain (18.4 percent).
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