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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Events

Events

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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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#InspireMe Festival Ulaanbaatar Shangri-La Mall www.mongolianbusinessdatabase.com

Her Majesty’s Ambassador, Catherine Arnold, invites you to attend the “Business Zone Seminars” for entrepreneurs and start ups.

15:30-15:50 Business idea modelling - G. Oyungerel, training manager, Youth Business Mongolia
15:50-16:10 How to start your own business? Funding options - E.Bat-Orshikh, Executive Director, Development Solutions
16:10-16:30 Working with foreign partners - J.Nomin, Director, Mongolia Talent Network
16:30-16:50 Building international supply chain - Nancy Johnston, Founder of Tengri
16:50-17:10 Entrepreneurship: Ch. Gankhuyag, CEO of Ard Financial Group
17:40-18:40 Startup Grind Mongolia: Nomin Ch., CEO, Mongol HD

Date: 11 November

Time: 15:30 – 18:40

Location: Shangri-la Mall/ Business zone (F1, Art Space Gallery)

SEATING IS LIMITED AND AVAILABLE ON A FIRST COME FIRST SERVE BASIS.

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US stock markets neutral on Trump win www.rt.com

The main US indexes did not plunge significantly during the first minutes of trading in New York. Futures had pointed to a sharply lower open for Wall Street on Wednesday after Donald Trump won the US presidential election.
 
The Dow Jones Industrial Average was trading flat at 18,341 points. The Nasdaq Composite dropped 17 points, or less than a half percent. The S&P 500 index was 0.14 percent down.
Germany’s DAX and France’s CAC 40 index were losing less than half a percent, while UK’s FTSE 100 was up 0.2 percent.
 
Shares in steel producers, defense firms and pharmaceuticals firms are rallying, as speculators expect a rise in infrastructure projects, military spending, and a more favorable environment for drug producers during Trump’s administration.
 
Pfizer was up nearly 10 percent, while its rival Merck gained six percent. Machine maker Caterpillar went up eight percent.
 
Shares in biotech companies are skyrocketing with the Nasdaq biotech index showing its biggest intraday gain in eight years.
 
Gold, platinum, palladium and other precious metals were all in the green, rising one to two percent.
 
The crude oil benchmarks have fallen less than half a percent, with Brent trading at $45.88 and WTI at $44.8 a barrel.
 
Healthcare firms are the worst performers on the S&P 500 with insurance group Centene Corporation down 16 percent. Private healthcare providers are also falling eight to 14 percent.
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German consortium to invest almost €3bn in Russian high-speed railway www.rt.com

A consortium of major German companies is ready to provide €2.7 billion to construct the Moscow-Kazan high-speed railroad, according to the Vice President of Russian Railways Alexander Misharin. Initially the sum proposed was €2 billion.
 
"Now we speak about investment of about €2.7 billion," Misharin told TASS, adding the terms of the financing will be fixed in an intergovernmental agreement.
 
Germany’s Siemens is part of the consortium and has said it is ready to manufacture rolling stock for the route. The company wants to provide an enhanced version of its high-speed Sapsan train for the new line. Siemens’ Sapsan trains currently operate on the Moscow to St. Petersburg line.
 
The route from Moscow to Kazan is planned as part of a network of high-speed lines to be built by 2018 when Russia hosts the FIFA World Cup. Kazan will be one of the Russian cities hosting the tournament.
 
The ambitious project has already attracted interest from China which plans to put in up to $6 billion.
 
Last year, the China Railway Group won a $390 million contract to develop the Moscow-Kazan railway which may be extended to the Chinese capital. The route is expected to become part of the grand Silk Road project, a Chinese economic corridor with Russia and Mongolia. Beijing sees the high-speed rail project as a way to boost communication and trade with Russia and Europe.
 
The cost of the 770 kilometer Moscow-Kazan link is estimated at $21.4 billion. It will stretch through seven regions of Russia, reducing the current 12-hour journey time from Moscow to the capital of the Republic of Tatarstan to just three and half hours.
 
The trains will be able to reach speeds of 400 kilometers per hour. The average annual passenger traffic is estimated at about 200 million people.
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Russia wants to restore Europe business ties, but Brussels shows no goodwill – economy minister www.rt.com

 
Moscow seeks to abolish mutual restrictions with the EU, but Brussels doesn’t show commitment to the matter, Economic Development Minister Aleksey Ulyukaev told Italian business leaders in Rome on Tuesday. Italy has been opposing anti-Russian sanctions, calling them counterproductive.
 
“As for cars, clothing and furniture, there are no imports restrictions. The restrictions apply to agricultural products. They’re probably quite significant,” Ulyukaev said.
 
“But this is not our choice. The best solution is to mutually waive these limitations, we would welcome it, but unfortunately our partners – including the European partners – are not showing goodwill here," he added.
 
Italian businesses have been seeking ways to continue delivering their products to the Russian market despite the restrictions. For example, investors from Italy plan to build a buffalo farm and a mozzarella production plant in Crimea, aiming to put €300 million (US$337 million) into the enterprises.
 
Italian Prime Minister Matteo Renzi openly criticized anti-Russian sanctions at an EU summit in October and spoke against their expansion.
 
“We should do everything possible for a peace deal in Syria, but it’s difficult to imagine that this should be linked to further sanctions on Russia,” Renzi said, as cited by Reuters.
 
In July, the Italian province of Tuscany unanimously backed a resolution urging the lifting of anti-Russian sanctions. The region followed footsteps of Lombardy, Veneto and Liguria, who have acknowledged right for self-determination of the people of Crimea, who voted to leave Ukraine and reunite with Russia in 2014.
 
Trade relations between Russia and the EU have significantly deteriorated since 2014, when Europe accused the Kremlin of fueling the Ukrainian crisis and imposed several rounds of sanctions. The restrictions targeted Russia's banking, energy and defense sectors. In response, Russia imposed a food embargo targeting countries that joined anti-Russian sanctions.
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M&S to axe stores as Rowe beats a retreat www.chinadaily.com.cn

Marks & Spencer Group Plc announced plans to shut 30 clothing stores in the United Kingdom and switch others to food-only outlets as Chief Executive Officer Steve Rowe unwinds the expansion efforts of his predecessor and seeks to reverse years of lackluster performance.

The retailer will also shutter 53 stores outside the UK and begin consultations with 2,100 workers as it retreats from 10 countries including China and Belgium, it said on Tuesday, while cutting its margin outlook for the year.
"M&S have been trying to dig their general-merchandise business out of trouble for several years, but for now it seems that the time has come to stop digging," said Phil Dorrell, partner at consultant Retail Remedy.
"By closing stores and cutting jobs without an accompanying announcement on a new strategy, M&S are giving in."
M&S veteran Rowe is taking immediate action to address the fashion retailer's struggles at home and abroad after replacing Marc Bolland as CEO this year.
Domestic clothing sales have been in near constant decline for five years as shoppers defect to nimbler rivals such as Hennes & Mauritz AB and Inditex's Zara.
International earnings have been weighed down by weak demand in Europe and turbulent economic conditions in Asia and the Middle East.
The domestic closures will take place over five years, M&S said, without disclosing how many jobs will be lost.
The downsizing represents the end of an era for the 132-year-old company that was long regarded as the bellwether of UK retailing.
"These are tough decisions, but vital to building a future M&S that is simpler, more relevant, multi-channel and focused on delivering sustainable returns," Rowe said in the statement.
The domestic closures will reduce the amount of space devoted to clothing and home wares by 10 percent, said the company, which has 304 UK clothing and home stores.
Taken together, Rowe's actions will lead to the loss of 60 clothing outlets.

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Alibaba hopes Singles' Day shopping party will go international www.asia.nikkei.com

HONG KONG -- Chinese e-commerce giant Alibaba Group Holding aims to transform every Nov. 11's Singles' Day from an exclusively Chinese phenomenon into an annual international shopping event.

Alibaba started the Singles' Day shopping event on Nov. 11, 2009, to boost online sales, as the date is made up of four lonely "ones."

The event began with just 27 stores and gross merchandise volume of less than 100 million yuan (about $14.7 million at current rate), but the figures jumped around 60% on the year to 91.2 billion yuan with 40,000 stores in 2015.

Alibaba's e-commerce site Tmall set a Guinness World Record for selling 6,506 cars and 1.11 million watches in a single day last year.

Alibaba's Singles Day sale starts at midnight on Friday. Last year, Tmall's GMV topped 1 billion yuan in one minute and 10 billion yuan in 12 minutes.

David Hill, renowned as the producer of the Academy Awards and the Super Bowl in the U.S., will direct the Tmall 2016 Double 11 Carnival Night, which will be held in Shenzhen, in the southern province of Guangdong.

U.S. pop star Katy Perry will headline at Alibaba's Singles Day gala as a global ambassador. Alibaba will broadcast the event live through Youku Tudou, its U.S.-traded online video provider.

This year, Alibaba has attracted foreign companies to make the event more international. Well-known foreign brands, such as Apple of the U.S., Italian luxury car brand Maserati and U.S. fashion brand Victoria's Secret, will join the shopping event for the first time to entice Chinese consumers.

Meanwhile, Tmall is providing services in full swing in Hong Kong and Taiwan to establish a foothold in the global market.

Virtual reality shopping will be another attraction of this year's Singles' Day sale. A dedicated VR headset will allow Chinese consumers to enjoy shopping as if they were actually at Macy's department store or a Target discount store in the U.S. while sitting in their own homes.

A representative of Guotai Junan International Holdings predicted that Alibaba's extensive sales promotion will boost Tmall's GMV by 37-43% year on year to 125 million yuan to 130 billion yuan on this year's Singles Day. Some market watchers even expect Tmall's GMV to hit 150 billion yuan.

Stocks that will benefit from Singles Day sale include e-tailers Alibaba and JD.com, as well as Suning Commerce Group and other electronics retailers that partner with Alibaba and Fast Retailing, the operator of the Uniqlo casual wear chain, which logged more than 600 million yuan in sales on last year's Singles' Day.

Logistics companies that ship goods ordered online are attracting greater attention. For example, the stock price of Chinese package delivery company YTO Express has surged more than 70% over the past two months, far exceeding the Shanghai Composite Index, which has remained roughly flat. The Shanghai-listed company posted solid earnings in the first nine months of the year, with a 44% increase in sales and a 91% jump in net profit.

The China Express Association, an industry group for home delivery and logistics, delivery volume will jump 35% from a year earlier to 1.05 billion during this year's Singles' Day campaign on Nov. 11-16. As many as 2.68 million people, a 50% increase from the previous year, will handle the mountains of goods shipped.

That said, time will tell if the Singles' Day shopping event will continue to grow at the current pace, as it has become so big. In response to market expectations, one Alibaba executive said he only expects GMV growth of about 30% this year.

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With Samsung raid, Choi probe turns to big business www.asia.nikkei.com

SEOUL -- South Korean prosecutors raided Samsung Electronics' headquarters Tuesday for evidence in the influence-peddling scandal surrounding a close confidante to President Park Geun-hye, dragging one of the country's largest conglomerates into the widening investigation.

The electronics maker is alleged to have sent some 2.8 million euros ($3.09 million) to a company linked to former dressage competitor Chung Yoo-ra, the daughter of Choi Soon-sil, a longtime friend of Park's who the president is alleged to have involved in state affairs. Tuesday's raid turned up evidence of such transfers, according to South Korean media reports.

Samsung confirmed that the raid took place in a short statement Tuesday. The company will faithfully comply with the investigation, a Samsung source said. Park Sang-jin, Samsung Electronics' president of corporate relations, is the current head of the Korea Equestrian Federation. He is expected to say that the money was to fund development of the sport, and that the selection of Chung to represent South Korea in international competition was a coincidence.

Prosecutors have barred Park from leaving the country, and are expected to look into possible kickbacks from the Park Geun-hye government to Samsung.

The raid also furthers an investigation into donations by South Korean businesses to two nonprofits -- a sports foundation and a cultural foundation -- effectively controlled by Choi, worth some 77.4 billion won ($68.2 million) in total. Prosecutors have detained and questioned Ahn Chong-bum, the president's former secretary for policy coordination, over allegations that he worked with Choi to pressure companies to donate. Looking into the hazy origins of these funds will help investigators determine whether Park herself is directly involved in any of the growing number of graft scandals surrounding Choi.

South Korea's major conglomerates top the foundations' donor lists. Samsung Group, the electronics company's parent, gave the most at around 20.4 billion won. Lotte Group reportedly gave around 4.5 billion won. Lotte's donation is suspected to have been returned several days before the company's offices were raided in June as part of an investigation into a possible slush fund.

Corporate donors say they were merely supporting South Korean sports and culture by giving to the funds and have not acted illegally. But if large conglomerates refuse to cooperate, prosecutors would have little choice but to call business leaders as witnesses, a source linked to the prosecution said Tuesday. The arrest or detention of officials cannot be ruled out as the investigation continues.

South Korea's economy has stagnated of late, and the wage gap between full- and part-time or temporary employees is widening. If the country's leading conglomerates are discovered to have benefited by illegally donating to Choi, the anger of ordinary South Koreans, now directed mainly at Park, could lash the corporate sector as well.

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Copper price: Don’t expect any 2017 fireworks www.mining.com

In early trade on Tuesday copper for delivery in December held onto six-month highs with copper futures exchanging hands for $2.3085 per pound in New York and topping $5,000 a tonne in London dealings for the first time since end-April.

Copper has risen during 11 of the last 12 trading sessions, adding nearly 11% in two weeks. While other industrial metals and steelmaking raw materials have jumped in value this year, the bellwether metal has advanced a more modest 8% this year.

The copper price hit six year lows in January following a 26% decline in 2015, the fourth year in a row of price erosion.

While the price of copper appears to have found a floor above $2.00 a pound a new note by BMI Research, a Fitch company, says that any gains going into 2017 would be modest.

Copper will remain an underperformer among base metals, as the market remains comparatively well-supplied and warehouse and exchange stocks despite recent declines remain relatively high, according to the report.

BMI expects copper prices to break out of an increasingly narrow trading range by 2017, supported by additional Chinese fiscal stimulus in the form of public construction sector support and the acceleration of public-private partnership infrastructure projects.

An investment boom in new capacity this decade has seen several large projects come on stream this year, but BMI forecasts global refined copper market balance to tighten substantially in 2017, to a surplus of 107,000 compared to an estimated surplus of 294,000 this year.

BMI forecasts copper prices to average only slightly higher next year at $4,900 per tonne in 2017, compared to $4,730 so far this year.

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Myanmar minister calls for Japanese investment www3.nhk.or.jp

Myanmar's Minister for Planning and Finance has called on Japanese firms to invest more in his country.

Kyaw Win was speaking at an economic forum sponsored by the Japan External Trade Organization and others in Tokyo on Tuesday. About 350 attendees included those from Japanese trading houses and financial institutions, as well as Myanmar companies.

The event came after the US government completely lifted its economic sanctions against Myanmar last month.

The finance minister said business opportunities exist in Myanmar in variety of fields, including infrastructure and finance. He added that all companies and investors have a fair opportunity there.

He encouraged vigorous participation by Japanese investors, saying that Myanmar's business environment has greatly improved with the introduction of a new law that eases restrictions on foreign firms.

Before the lifting of the US sanctions, Japanese companies were reluctant to do business with Myanmar firms and individuals whose transactions with the United States were banned.

But it is now hoped that trade and investment between Japan and Myanmar will become active.

An official from a Myanmar company that was dropped from the US sanctions list expressed hope for business with Japanese firms that have technologies and experience in infrastructure-related fields.

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Suzuki, Toshiba to team up to launch HV in India www3.nhk.or.jp

NHK has learned that Japanese automaker Suzuki plans to team up with the country's electronics giant Toshiba to expand the sale of hybrid cars in India.

Sources say the 2 companies are in the final stage of talks to launch a joint venture in India to produce lithium-ion batteries for hybrid vehicles.

Suzuki is the first Japanese automaker to start business in India, which has become its main overseas market.

Its local unit, Maruti Suzuki, is the market leader, with a share of over 40 percent in terms of sales units.

The plan to bolster hybrid car sales is in response to tighter regulations to address worsening air pollution in major cities.

A court has ordered a ban on diesel cars that are more than 10 years old in the capital, New Delhi.

Analysts say Suzuki aims to keep its leading position by promoting fuel-efficient and environmentally friendly hybrid models.

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