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

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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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Twenty-First Century Fox beats Wall Street expectations www.reuters.com

Twenty-First Century Fox Inc (FOXA.O) reported first-quarter profits on Wednesday that beat Wall Street's expectations, as the company's cable channels and box office saw a boost in revenues.
 
Fox, which is home to Fox News Channel and FX, saw its cable division revenue rise nearly 10 percent to $3.81 billion in the first quarter, accounting for more than half of total revenue.
 
James Murdoch, chief executive officer at Fox, told analysts on a call Wednesday that he expects Fox's strong ratings during the presidential election campaign to help drive affiliate fees as it has some "significant renewals" approaching.
 
Fox News is the most watched cable news network and has maintained strong ratings in the wake of the high-profile departure of its former CEO Roger Ailes.
 
The company is not planning any changes to the network's strategy, Murdoch said on the call.
 
Revenues for its film division, buoyed by last summer's hits, "Independence Day: Resurgence" and "X-Men: Apocalypse" increased 6.8 percent in the quarter ended Sept. 30.
 
Fox does not feel any pressure to make a big acquisition despite the planned acquisition by telecommunications provider AT&T Inc (T.N) of Time Warner Inc (TWX.N), Murdoch told analysts on the call. Fox had made a bid for Time Warner in 2014, only to be rebuffed.
 
"There isn't a heightened appetite for inorganic activities," Murdoch told analysts. "We really try to be very disciplined about this."
 
Similarly, Murdoch said the company is not feeling pressure to come out with its own over-the-top video streaming service like so many of its competitors have. Fox is a part owner of Hulu and has distribution agreements with many over-the-top providers.
 
The Rupert Murdoch-controlled company's shares were flat in after-hours trading on Wednesday.
 
The company's total revenue increased to $6.51 billion from $6.08 billion.
 
Analysts on average were expecting revenue of $6.49 billion, according to Thomson Reuters I/B/E/S.
 
Net income attributable to shareholders rose to $821 million, or 44 cents per share, from $675 million, or 34 cents per share.
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Russia & China reveal their alternative to Airbus & Boeing www.rt.com

A mock-up of a wide-body passenger aircraft jointly being developed by Moscow and Beijing has been presented at Airshow China. The new plane is expected to challenge the Airbus-Boeing duopoly.
 
Manufacturers Russia’s United Aircraft Corporation and Commercial Aircraft Corporation of China (COMAC) have announced the start of the search for suppliers. They didn’t provide any details on financing or technical specification.
 
"We will choose suppliers who have rich experience in development, whose products are competitive globally, and who can continually guarantee quality from the development stage until the planes go into operation," Guo Bozhi, general manager of COMAC's wide-body department told Reuters.
 
US firms Honeywell and United Technologies Corporation have reportedly discussed the jet with COMAC officials at the air show.
 
The Russia-China joint venture will start this year, according to Guo. The firms plan a maiden flight in 2022 and deliveries to begin in 2025 or later.
 
"A wide-body jet is an extremely complicated product, which will require a lot of skills (to develop) and require broad industrial knowledge," Guo told reporters. "China and Russia each have their own advantages."
 
The memorandum on the creation of a new airliner was signed in 2014 during President Vladimir Putin’s visit to China. It is part of a $13 billion aviation cooperation deal.
 
The basic version of the aircraft will have 250-280 seats and a range of 12,000 kilometers.
 
The plane will be developed in Russia and assembled in China. It will be based on the Russian-designed IL-96, and will have two engines instead of four.
 
Russian Deputy Prime Minister Dmitry Rogozin said in June the construction of a heavy-lift aircraft engine for the plane has already started.
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Alibaba generates more revenue than Amazon and eBay combined www.rt.com

Chinese e-commerce giant Alibaba has blown away earnings expectations in the quarter ending September 30. Revenues increased 55 percent to 34.29 billion yuan ($5 billion), more than Amazon and eBay combined.
 
“We reported robust revenue growth of 55 percent this quarter, with strong growth in each of our four reporting segments,” said Maggie Wu, Chief Financial Officer of Alibaba Group.
 
“Our highly profitable and cash flow generative core commerce business enables us to invest in our future growth areas of cloud computing, digital media and entertainment and innovation initiatives. We expect each of these businesses to drive long-term value for both our customers and shareholders,” she said.
 
Alibaba’s revenue of 34.29 billion yuan (about $5 billion) in the three months through September beat the average estimate of 33.9 billion yuan from 24 analysts polled by Thomson Reuters.
 
Revenue from the company's core e-commerce business grew 41 percent over the year before to 28.49 billion yuan ($4.2 billion), driven by sales in China.
 
Net income slid to 7.1 billion yuan ($1.05 billion) from 22.7 billion yuan ($3.35 billion). Alibaba pegged the fall on a large one-time item.
 
"Beyond the strong performance of our core commerce business, we are pleased with the continued rapid growth of our cloud computing business," said Daniel Zhang, CEO of Alibaba Group.
 
Alibaba’s media and digital entertainment business, which was consolidated under a new entity on Monday, saw revenues rise 302 percent year on year, mostly due to the consolidation of Youku Tudou, the local alternative to YouTube, which is blocked in China.
 
The company’s report comes just days before China’s Singles’ Day on November 11, the world's biggest online shopping event, which is 10 times bigger than US Cyber Monday. Last year, Alibaba earned a world record breaking 91.2 billion yuan ($14.32 billion) during the day.
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Volvo, Geely share car plant www.chinadaily.com.cn

Volvo, Geely share car plant Two automakers will soon start producing vehicles at their joint Taizhou factory
 
Swedish carmaker Volvo announced on Wednesday a series of moves deepening cooperation with its Chinese parent Zhejiang Geely Holding Group Co－a tie-up that's shaping up to show that China can make a success of buying consumer brands.
 
The two firms will soon start producing cars at a joint assembly plant in Taizhou, Zhejiang province, Volvo said in a statement.
 
The Taizhou plant, operated by Volvo and expected to be up and running in the current quarter, will produce compact cars based on an "advanced" vehicle architecture the two companies have jointly developed in Sweden.
 
Both Volvo and Geely are expected to produce small cars at the plant based on that compact modular architecture platform－for both domestic and export markets.
 
Volvo began exporting its China-made cars last year, shipping its S60 Inscription to the United States.
 
The automaker is also expected to unveil two stretched variants of its recently launched large S90 premium sedan, including the S90 Excellence. Volvo will build both S90 variants at its assembly plant in Daqing in northeastern China, for sale in China and abroad.
 
The Taizhou plant will be Volvo's third assembly site in China, along with Daqing and one in Chengdu in southwestern China.
 
Geely raised auto industry eyebrows when it bought Volvo for $1.8 billion six years ago. Few saw any obvious synergies in marrying a premium Western marque with a Chinese entry brand.
 
But the two appear to be making it work.
 
Volvo increased its third-quarter sales in both China and the US by more than one-fifth, and July-September operating profit jumped 62 percent to 2.07 billion Swedish Kronas ($232.5 million).
 
Geely sold more than half a million cars last year, up 22 percent, and sales in the first nine months of this year were already at nearly 460,000 cars.
 
"Moving production from Sweden to China, and sharing manufacturing processes and components has been a positive for both Geely and Volvo from a cost savings perspective," said James Chao, Asia-Pacific chief for consulting and research firm IHS Markit Automotive.
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YouTube's seven-year stand-off ends www.bbc.com

 
YouTube has resolved a long-running dispute that prevented many of its clips being accessible in Germany.
The Google-owned video service had been at odds with Gema - a German rights body representing musicians, composers and publishers - since 2009.
The disagreement had affected clips in which the artists appeared as well as those that used their songs in the background.
Payments will now be made, but neither side has disclosed the terms.
Google's Content ID system means that clips flagged as containing Gema-protected tracks can now have adverts automatically added to them to recompense the songs' creators.
And red banners that had prevented thousands of YouTube's clips from playing in Germany have now been removed as a consequence.
"This is a win for music artists around the world, enabling them to reach new and existing fans in Germany... and for YouTube users in Germany, who will no longer see a blocking message on music content," blogged YouTube's head of international music partnerships, Christophe Muller.
Gema said there remained disagreement about whether YouTube or the person uploading a clip was ultimately responsible for licensing the music it contained but the new agreement still marked a "milestone"
"We remained true to our position that authors should also get a fair remuneration in the digital age, despite the resistance we met," said its chief executive, Harald Heker.
One industry watcher said it was a "significant" that the matter had been resolved.
"Gema had been a long-term holdout on and critic of YouTube, hitting out at the video site even when many record companies were supportive of it," said Chris Cooke, director of Unlimited Media.
"It has meant YouTube is not the music hub in Germany that it is elsewhere, which has hindered newer artists looking to use it as a marketing channel.
"Though it has to be said in the last couple of years most labels have also become critical of YouTube, the way it operates and the royalties it pays compared to, say, Spotify or Apple Music, even though they continue to work with the service.
"It will be interesting to know quite what deal Gema has secured and how its songwriter members feel about it."
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Next sees sales fall again in 'difficult' quarter www.bbc.com

 
Retailer Next has blamed heavy discounting and tough comparisons to its performance last year for a sharp drop in sales in the third quarter.
Sales at its High Street stores fell 5.9% in the three months to the end of October, while sales at its Next Directory online division were flat.
It now expects full-year sales to be between 1.75% lower and 1.25% higher than the previous year.
It said this was "marginally lower" than the guidance it gave in May.
It is the fourth time this year that Next has downgraded its annual sales guidance.
However, it said that cost savings meant its central profit forecast for the full year remained unchanged at £805m.
The chain, which has more than 500 stores, warned in September that the third quarter would be "difficult".
At the time, chief executive Lord Wolfson blamed "economic and cyclical factors working against us" and said the unusually warm September had meant no one was buying winter clothes.
In the year so far, Next said, sale items had outsold full-price items, helping total sales to increase slightly. However, it said the number of items sold at full price was down 1.5%.
Next, once one of the strongest performers on the High Street, has seen its shares fall by more than a third this year.
Official statistics, published last month, showed weak sales of food, footwear and clothing in September, with the amount of goods people bought flat compared with August.
Richard Lim, chief executive of research firm Retail Economics, said the figures from Next confirmed "underlying conditions on the High Street remain desperate for clothing and footwear retailers".
"The beginning of the autumn/winter season was plagued by unseasonably warm weather, which has decimated sales growth across the sector.
"Retailers are facing rising costs resulting from the collapse in sterling, higher wages through the implementation of the National Living Wage and rising rates which will all bear down on profitability. The outlook looks very challenging indeed," he added.
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Yum China kicks off trading in New York www.chinadaily.com.cn

Yum China Holdings Inc, a separate company carved out from Yum Brands Inc that started trading in New York on Tuesday, said it will continue focusing on direct operating business model in China, rather than franchising.
 
Yum Brands announced it was separating its China operations last October, and the spinoff from Yum Brands completed on Oct 31, with Yum China listed on the New York Stock Exchange.
 
In China, most of its restaurants are directly operated by Yum China while most are franchised in other countries.
 
Micky Pant, chief executive officer of Yum China said expanding taco restaurant Taco Bell and lamb hot pot restaurant Little Sheep will drive the growth of Yum China in the next few years.
 
Yum China is going to triple its current number of restaurants from more than 7000 to around 20,000 across China in the next few years.
 
Yum China has received $460 million strategic investment including $410 million from Primavera Capital and $50 million from Ant Financial. Fred Hu, a veteran in investment banking becomes non-executive Chairman of Yum China.
 
As an independent company, Yum China will continue to focus on direct operations other than franchising, to better leverage its expertise and resources gathered over the past decades, including knowledge, talent and supply chain, to better ensure food safety and successful operation. More than 90 percent of Yum China restaurants will be operated and owned directly by the company, said Pant.
 
Analysts said that the food and beverage sector will see great opportunities for growth amid fast urbanization with surging number of shopping malls, but competition will also become fiercer.
 
Xue Yuhu, an analyst with Founder Securities, said: "Increasingly-savvy consumers will demand innovative and creative products that meet fast-changing interests."
 
"Strong capacities in research and development, management of the supply chain and cost management are keys for fast food chains to survive and thrive," said a research note from Galaxies Securities.
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Singapore Post opens new e-commerce logistics hub www.asia.nikkei.com

SINGAPORE -- Singapore Post opened a new logistics center dedicated to e-commerce in the east of Singapore on Tuesday. The center, costing 182 million Singapore dollars ($130 million), will serve as a hub for sorting and shipping out merchandise ordered online to Southeast Asia and beyond.
 
The logistics hub of about 51,300 square meters will employ automation that will sort up to 100,000 parcels a day for delivery to worldwide destinations. The time required for picking, packing and sending the parcels to loading docks is 5-10 minutes, according to the company.
 
In an opening ceremony on Tuesday, SingPost Chairman Simon Israel revealed plans to upgrade the facility with more advanced technology. "We have designed this facility to be able to meet the future demands ... through adoption of automation and soon, the use of robots," Israel said, adding that a postman in the future may be "a programmer of driverless vehicles, a controller of robots ... or a flier of drones."
 
The opening of the new facility comes not long after the completion of a S$86.2 million investment by Chinese e-commerce giant Alibaba Group Holding into Quantium Solutions International, a logistics joint venture between Alibaba and SingPost. Alibaba's additional investment of S$187.1 million to parent company SingPost has also been approved by Singapore's regulatory body, said the postal company last Thursday.
 
The two deals were announced in July 2015, but since then, SingPost had suffered a series of corporate governance scandals, including the sudden departure of its former CEO and disclosure shortfalls for past acquisition transactions. The delay in Alibaba's investments had kept the investors on edge until the announcement last week, after which SingPost's share price jumped. The counter closed at S$1.62 on Tuesday, 6.6% higher than the closing price last Thursday.
 
Maybank Kim Eng analyst John Cheong maintained a "buy" rating on SingPost in a recent report, noting that the green light on Alibaba deals "should remove the overhang on the stock and potentially enable SingPost to capture more e-commerce logistics businesses from Alibaba."
 
Using the new facility and the partnership with Alibaba, SingPost hopes to attract more brands and online retailers onto its logistics platform. The company has been upping its international portfolio of e-commerce backend services, including the acquisition of two companies in the U.S. announced late 2015.
 
The new hub will be used for domestic e-commerce deliveries as well, including deliveries to SingPost's POPStation, self-service lockers for deliveries. The successful expansion of POPStation has prompted the government to set up a similar system. Speaking at the opening ceremony, Deputy Prime Minister Thaman Shanmugaratnam announced the government would roll out a nation-wide locker system next year at public housing estates, where around 80% of Singaporean residents live.
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Monetary base renews record high www3.nhk.or.jp

Japan's monetary base renewed a record high for the 11th consecutive month. It remained above the 400-trillion-yen mark in October, due to continued monetary easing by the central bank.
 
The monetary base is the total amount of cash in circulation plus commercial-bank deposits held at the Bank of Japan.
 
BOJ officials say the monetary base at the end of October stood at nearly 418 trillion yen, or about 4 trillion dollars at the current rate.
 
The figure was up about 4.8 trillion yen from a month earlier.
 
In an effort to achieve a 2-percent inflation target, the BOJ has been pouring massive amounts of funds into financial institutions by purchasing government bonds and other assets.
 
But BOJ policymakers on Tuesday pushed back the forecast date for achieving the inflation target, saying it will likely be reached "around fiscal 2018."
 
Analysts say this is a sign that the massive supply of funds into financial institutions is not helping lift prices.
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MBD Business offers #11 www.mongolianbusinessdatabase.com

Please review the following MBD business offers package number 11 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

Cisco & Huawei network equipments(China)
Seeking the partner

Work Wear, Personal Protective Equipment(Malaysia)
Seeking the partner

Agricultural machine and techniques (Iran)
Seeking the partner

HPMC/PVA/Methacrylate based coatings(India)
Seeking a partner

Asphalt mixing plants(China)
Seeking a partner

Building materials(Turkey)
Seeking a partner

Batching and mixing plants(Czech Republic)
Seeking a partner

All kind of plastic materials (PR China)
Seeking a partner

Construction material (Turkey)
Seeking a partner

Global brand cosmetics (PR Korea)
Seeking a distributor

Restaurant kitchen equipment (PR China)
Seeking a distributor

...


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