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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Fujitsu, Lenovo finalizing integration deal www3.nhk.or.jp

Japan's Fujitsu says it's in final negotiations to merge its PC business with China's Lenovo Group.

Fujitsu officials say the two firms aim to cooperate on research, development, design and manufacturing.

Fujitsu also hopes to obtain financial support from the Development Bank of Japan to carry out the deal.

Sources say the Japanese firm wants to complete the integration by March. They say Lenovo is likely to buy a majority stake in Fujitsu's PC business at the end of that month.

Fujitsu President Tatsuya Tanaka told reporters he wants to strengthen the competitiveness of Fujitsu's PC division, and will put top priority on working with Lenovo.

 
 
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Samsung Electronics to buy $159 million of shares in Samsung Heavy rights issue www.reuters.com

Samsung Electronics Co Ltd said on Thursday it will buy 181 billion won ($158.71 million) worth of Samsung Heavy Industries Co Ltd shares as part of the shipbuilder's 1.14 trillion won ($999.59 million) rights issue.
 
Samsung Electronics said in a filing it will acquire about 25.3 million new Samsung Heavy shares, fully subscribing to its entitled portion as an existing shareholder through the rights issue. The price was set at 7,170 won per share under the issuance.
 
The world's top smartphone maker held a 17.6 percent stake in Samsung Heavy as of Aug. 23.
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Deutsche Bank reports profit despite 'tough' environment www.bbc.com

Deutsche Bank has reported a small third-quarter profit, beating very low expectations.
The bank reported a profit of €278m (£248m), a big turnaround from a €6bn loss in the same period last year.
Deutsche Bank said the "tough interest rate environment" and "unsettling effect" of negotiations with US authorities had been felt.
Concerns persist over the position of the bank as the size of a fine in the US remains undetermined.
Deutsche has been threatened with a $14bn (£11.5bn) fine from the US Department of Justice over the mis-selling of mortgage-backed securities in the run-up to the financial crisis.
And earlier this year, the International Monetary Fund described it as the biggest risk to the global banking system.
'Overshadowed'
The bank has been cutting costs and selling businesses in attempt to reassure investors.
Chief executive John Cryan said that the bank's restructuring work had been "overshadowed" by the attention being paid to the bank's talks concerning the "matter" in the US.
"The bank is working hard on achieving a resolution of this issue as soon as possible," he said.
But in a letter to staff he added that "unfortunately, we have to assume that the situation will stay difficult for a while".
Mr Cryan said the bank's latest results demonstrated the strength of its operating business.
Deutsche Bank reported a 2% rise in sales in its third quarter to €7.5bn, which was better than analysts had been expecting.
"Deutsche has done better than anticipated, but that was against very low expectations, which has really been the banking story so far this quarter," said Peter Hahn, a professor at the London Institute of Banking and Finance.
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Samsung earnings plummet amid smartphone recall www3.nhk.or.jp

Samsung Electronics has reported a 96-percent drop in earnings from smartphones from July to September.
 
The South Korean mobile giant was forced to stop production and sales of its Galaxy Note 7 smartphones this month after reports that some were catching fire.
 
The phone was released in August.
 
Samsung's earnings report for the 3 months through September shows operating profit in the smartphone sector fell 96 percent to about 88 million dollars.
The firm's overall profit was down 30 percent.
 
At shareholders' meeting on Thursday, President Shin Jong-Kyun said the firm has received more than 200 reports on the smartphone defects.
 
Shin apologized to customers from around the world and said his firm will fully review its quality control procedures.
 
On Wednesday, South Korea's central bank said Samsung's problems are likely behind the country's slow GDP growth in the July - September quarter.
 
Analysts warn that the country's economy may continue to suffer from the Samsung fallout.
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Mongolia is a destination you cannot afford to miss www.mongolia.gogo.mn

Lonelyplanet.com introduced the ten top countries for best in 2017 while Mongolia ranked 7th in the list.
They highlighted: "In 2017 Mongolia will raise the curtain on a brand-new capital-city airport, a state-of- the-art facility that symbolises the country’s rapid modernisation. Ulaanbaatar has been the biggest beneficiary of the economic boom, its transformed skyline bristling with glass and steel towers. At the centre of this development is a US$500-million Shangri-La complex, which will be completed by 2017, featuring a 290-room hotel, an IMAX cinema and a Hard Rock Café. Beyond the capital lies Mongolia’s stunning countryside, highlighted by Lake Khövsgöl, the Blue Pearl of Asia. In 2015 the lake was connected to Ulaanbaatar by paved road, cutting driving time by 10 hours".
The ten destinations you cannot afford to miss are:
Canada
Colombia
Finland
Dominica
Nepal
Bermuda
Mongolia
Oman
Myanmar
Ethiopia
 
 
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Nokia beats profit expectations in third quarter www.reuters.com

Finnish telecom network equipment maker Nokia (NOKIA.HE) said on Thursday its quarterly profit fell less than expected as it was boosted by a non-recurring licensing payment from Samsung [005930.KS].
 
Third-quarter earnings before interest and taxes (EBIT) decreased 18 percent from a year ago to 556 million euros ($606 million), clearly surpassing the average analyst forecast of 430 million given in a Reuters poll of analysts.
 
Group sales dropped 7 percent from a year ago to 5.95 billion euros, including network equipment sales falling to 5.32 billion, which compared with a market consensus of 5.39 billion.
 
Nokia also said its chief financial officer Timo Ihamuotila, who had helped the company to restructure from a troubled phone maker into a network equipment company, would resign to join Switzerland's ABB.
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China courier ZTO delivers year's biggest U.S. IPO www.reuters.com

Chinese package delivery company ZTO Express said it raised $1.4 billion in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China's booming online-shopping industry.
 
The stock market debut, the biggest by a Chinese company since the $25 billion IPO of e-commerce giant Alibaba Group Holding Ltd (BABA.N) in 2014, gave the Shanghai-based company a market value of more than $12 billion.
 
ZTO's U.S. listing is a head start over rivals in the world's largest express delivery market because it gives the company faster access to cash to expand.
 
The company wants to use $720 million of its IPO proceeds to buy more trucks, land, facilities and equipment.
 
Its Chinese competitors SF Express, YTO Express, STO Express and Yunda Express have all unveiled plans for listings in Shenzhen and Shanghai but with a backlog of about 800 companies waiting for approval to go public in China and frequent changes to the rules, a New York listing is regarded as a quicker and more reliable way of raising funds and tapping a broader mix of investors.
 
ZTO's existing shareholders, including private equity firms Warburg Pincus, Hillhouse Capital and venture capital firm Sequoia Capital will also get much more leeway and flexibility to exit their investment under U.S. market rules. In China, they would be locked in for one to three years after the IPO.
 
ZTO priced 72.1 million shares at $19.50 a share, above its previously indicated range of $16.50 to $18.50 a share.
 
That price is about 27 times its expected 2017 earnings per share, according to people familiar with the company's financials.
 
By comparison, rivals SF Express, YTO Express, STO Express and Yunda shares trade between 43 and 106 times earnings, according to Haitong Securities estimates.
 
U.S. rivals, United Parcel Service Inc (UPS.N) and FedEx Corp (FDX.N), which are growing at a much slower pace, are trading at multiples of 17.8 and 13.4 times expected 2017 earnings.
 
INTERNATIONAL ACQUISITIONS
 
As concerns grow about a weakening Chinese currency, the New York IPO also gives the company more stable dollar-denominated shares it can use for international acquisitions, according to people close to the company.
 
ZTO will have a dual-class share structure that will give its founder Lai Meisong 80 percent voting power in the company, even though he will only hold 28 percent of the stock after the IPO.
 
Most of Lai's shares are Class B ordinary shares carrying 10 votes, while Class A shares, including the new U.S. shares, have one vote. China's markets do not allow shares with different voting power.
 
China's express delivery firms handled 20.7 billion parcels in 2015, shifting 1.5 times the volume moved in the United States, according to consulting firm iResearch data cited in the ZTO prospectus.
 
The market will grow an average 23.7 percent a year through 2020 and reach 60 billion parcels, iResearch forecasts.
 
Domestic rivals STO Express and YTO Express have unveiled plans to go public with reverse takeovers worth $2.5 billion and $2.6 billion. The country's biggest player, SF Express, and rival Yunda Express, are working on similar deals worth $6.4 billion and $2.7 billion respectively.
 
ZTO said the American depositary shares will begin trading on the New York Stock Exchange on Thursday under the ticker symbol ZTO.
 
Morgan Stanley (MS.N) and Goldman Sachs Group Inc (GS.N) are the lead IPO underwriters.
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Auto parts firms see potential in inland China www3.nhk.or.jp

Japanese-affiliated auto parts firms that have made inroads into China have promoted their products in the country's inland region.
 
Representatives of about 30 firms took part in the first business promotion event in the city of Chongqing on Wednesday. The event was hosted by the Japan External Trade Organization.
 
The companies are manufacturing parts in the southern Chinese province of Guangdong and elsewhere.
 
Auto production is rising rapidly in Chongqing. Output in the city topped 3 million units last year alone.
 
The figure is higher than production in Shanghai city and Guangdong Province, making Chongqing the country's top car-producing area for the second straight year.
 
Auto firms, both domestic and foreign, are beginning to set up production hubs in the city.
 
Anxious to make inroads into the inland market, participants were seen enthusiastically promoting their products to officials of local firms.
 
A representative of a metal processing company with a plant in Guangdong Province says differences in business practices make it difficult for Japanese firms to promote sales in China, but expressed resolve to do just that.
 
The head of JETRO's office in Chengdu, Eiji Okada, meanwhile showed readiness to support Japanese- affiliated enterprises embracing the opportunity, saying the auto industry in inland China is expanding rapidly.
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Sony to spin off camera business www3.nhk.or.jp

Sony says it will spin off its camera business in April, as part of streamlining efforts. The business will be the last of the company's electronics operations to be separated from the parent.
 
The new company will be in charge of digital and video cameras for the home as well as cameras and other broadcasting equipment for businesses.
 
The camera business has annual sales of about 6.7 billion dollars. That would make the future company Sony's second-biggest to be spun-off, following its TV unit.
 
Sony has spun off its other electronics businesses to increase their independence and streamline operations.
 
With Sony's latest move, the company is now set to rebuild its electronics business, which was once a major drag on its performance.
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LinkedIn could soon be banned in Russia www.rt.com

The world's largest professional network LinkedIn could soon be blocked in Russia. The company has failed to comply with a law that obliges companies to keep data on Russian users in the country.
 
Apart from not moving servers to Russia, LinkedIn collects and sends information about people who are not users of the network without their consent, according to the Russian internet watchdog Roskomnadzor.
 
"We are seeking a court order to block LinkedIn. We twice sent requests in the summer, but they did not provide answers to our questions," said Roskomnadzor spokesman Vadim Ampelonskiy in an interview with the TASS news agency.
 
According to the spokesman, Moscow’s Tagansky District Court has ruled in favor of the watchdog, but LinkedIn has appealed to a higher court.
 
“If the appellate court upholds the judgment, and it will no longer be appealed, the decision will enter into force within 30 days. We will include the appropriate IP address in the register of violators of the personal data rights, which means blocking,” Ampelonskiy said. The decision will be announced on November 10.
 
The watchdog will remove the ban, if the social network provides information that it has fulfilled the law and moved servers with data about Russians to the country.
 
"This is the first company we are suing in court. In future we will use the same mechanism in relation to other companies," the spokesman said.
 
Roskomnadzor also told Kommersant daily that another reason for the lawsuit was "numerous publications in the media about repeated leaks of user data from the social network."
 
In May, website Haker.ru reported the sale of 167 million stolen LinkedIn accounts, and passwords for 117 million accounts on the dark web. LinkedIn said the leak happened in 2012, and passwords have now been updated.
 
LinkedIn is the world's largest business and employment oriented social network. As of 2015, it had 400 million users with 5 million people registered in Russia.
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