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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Mattel sales beat estimates as Barbie shines www.reuters.com

 
Mattel Inc (MAT.O), the largest U.S. toymaker, reported better-than-expected quarterly revenue, driven by strong demand for its flagship Barbie and Fisher-Price brands.
 
Mattel's shares rose about 6 percent to $32.39 in extended trading.
 
Barbie's worldwide sales increased 15.8 percent in the third quarter ended Sept. 30 as Mattel's efforts to revive sales of its signature brand gained traction.
 
In January, Mattel rolled out Barbie dolls in a variety of skin tones, hairstyles and outfits and in three new body shapes - tall, curvy and petite - to appeal to a larger demographic.
 
The launch of the new range followed two years of declining sales of Barbie dolls around the world as girls increasingly turn to other dolls, electronic toys and tablets.
 
The company had also changed its marketing strategy to position its dolls as more than a pretty face, with ad campaigns such as "You Can Be Anything" highlighting the potential of women in various professions.
 
Fisher-Price and the Wheels category, which includes Hot Wheels, were also bright spots for Mattel in the third quarter, with sales rising about 6 percent each.
 
Sales of its American Girl products were up 14 percent, compared with a 2 percent decline a year earlier.
 
Mattel in August announced a multi-year partnership with retailer Toys "R" Us Inc to have retail units of American Girl dolls and accessories in its stores.
 
"While we still have a critical fourth quarter to execute, we remain broadly on track to deliver on our full-year outlook," Chief Executive Christopher Sinclair said in a statement on Wednesday.
 
‎El Segundo, California-based Mattel's revenue rose to $1.80 billion from $1.79 billion. Analysts on average had expected $1.77 billion, according to Thomson Reuters I/B/E/S.
 
Net income rose to $236.3 million, or 68 cents per share, from $223.8 million, or 66 cents per share, a year earlier.
 
Excluding items, the company earned 70 cents per share, a cent below the average analyst estimate.
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Saudi Arabia expects to raise record $17.5bn in bond sale www.rt.com

 
Riyadh plans to sell $17.5 billion in its first bond offering, several media outlets report. It would make the Saudi bond issue the largest from an emerging-market nation, outpacing Argentina’s $16.5 billion offering in April.
 
According to Bloomberg quoting sources in the government, the Saudis plan to sell dollar-denominated bonds due in five years for about 140 basis points more than similarly maturing US Treasuries, 10-year bonds at a spread of about 170 basis points and 30-year securities at 215 basis points.
 
The Financial Times said the yields will be 2.63 percent, 3.44 percent and 4.64 percent, respectively. The original guidance stipulated 10-year bonds to be sold at 3.6 percent.
 
The demand for Saudi bonds much exceeded the offer. Investors had applied for $67 billion for the Kingdom’s first international bond sale.
 
Saudi Arabia saw a record $98 billion budget deficit last year, or 15 percent of GDP, and is struggling to cut the gap this year. The country plans to use the money raised in the bond sale to cut the deficit, easing pressure on burning through its foreign reserves.
 
As of late August, Saudi Arabia’s reserves stood at $555 billion, down $6 billion from the month before and at the lowest level since 2012. The holdings peaked in August 2014 at $737 billion before the oil prices plummeted from $114 per barrel to the current $50.
 
"Not only could the bond help develop the Kingdom’s debt markets by introducing a more sophisticated type of investor, but there are also positive ripple effects for Gulf Cooperation Council fixed income as well as more global investors take a closer, and longer-term, look at the region," said Mohieddine Kronfol, chief investment officer for Middle East fixed income at major asset manager Franklin Templeton Investments.
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DiCaprio to cooperate with Feds in money laundering probe www.rt.com

Leonardo DiCaprio will work with the US Department of Justice (DOJ) in a corruption investigation into Malaysia's sovereign wealth fund 1MDB.
 
The Hollywood actor's charity foundation and movie The Wolf of Wall Street allegedly received money stolen from the fund.
 
The actor is ready to give back all the money if the investigation reveals it came from people or organizations involved in corrupt practices, according to DiCaprio's representative.
 
“Mr. DiCaprio is seeking to determine whether he or his charitable foundation (Leonardo DiCaprio Foundation, LDF) had received any gifts or charitable donations directly or indirectly related to these parties, and if so, to return those gifts or donations as soon as possible,” the actor’s spokesman said as quoted by WSJ.com.
 
Starting from July, when US authorities raised the allegations, DiCaprio has been entirely supportive of all efforts to assure that justice is done in the matter, according to the spokesman.
 
“Mr. DiCaprio is grateful for the lead and instruction of the government on how to accomplish this,” he stressed.
 
In July, Hollywood production company Red Granite Pictures was charged with using $100 million allegedly diverted from the 1MDB fund to finance Martin Scorsese’s 2013 movie The Wolf of Wall Street, in which DiCaprio starred.
 
Later, the DOJ launched an investigation into an alleged link of the actor’s foundation to fraudulent operations by the Malaysian fund. Over $3 billion has allegedly been diverted from 1MDB by one of the fund's creators Malaysian financier Jho Low.
 
The Oscar-winning actor has been embroiled in the 1MDB issue because of his association with Jho Low and others connected to the film. It includes Riza Aziz, co-founder of Red Granite Pictures and stepson of Malaysian Prime Minister Najib Razak.
 
Last week, Switzerland’s Bruno Manser Fund called on DiCaprio to step down from the position as a United Nations “Messenger of Peace for Climate Change” amid possible ties to the alleged fraud.
 
The US Justice Department is looking to seize $1 billion in what it charges to be misappropriated funds. The total sum allegedly diverted by the fund comes to more than $3.5 billion.
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Rising oil price lifts Wall Street www.bbc.com

The Dow Jones rose 40.68 points to 18,202.62 while the wider S&P 500 edged up 4 points to 2,144.29.
Oil prices rose over 2% after figures suggested a drop in US stockpiles. Shares in Chevron added 0.5% and Chesapeake Energy climbed 3.1%.
The tech-focused Nasdaq rose just 2.6 points to 5,246.41, with Intel down nearly 6% after its latest results.
Intel reported better-than-expected third-quarter earnings and revenue, but its shares were hit after its forecast for fourth-quarter revenues fell slightly short of expectations.
Intel is predicting revenues of $15.7bn in the quarter, plus or minus $500m, compared with analysts' expectations of $15.86bn.
Morgan Stanley shares rose 1.9% after the bank reported a 62% jump in third-quarter earnings to $1.5bn.
Like the other major US investment banks, Morgan Stanley's results were boosted by a big increase in bond trading, with revenues from that activity rising to $1.5bn in the quarter from $583m a year earlier.
Volumes of bond trading have been strong in recent months, partly due to the UK's vote to leave the EU and also due to speculation about moves in US interest rates.
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AIIB committee discusses strategy www3.nhk.or.jp

 
An international advisory committee for the China-led Asian Infrastructure Investment Bank has held its first meeting in Beijing.
 
AIIB President Jin Liqun and 10 other members including former Japanese Prime Minister Yukio Hatoyama exchanged views on the business strategy and the bank's operations.
 
The AIIB currently has 57 member nations. At least 20 other countries are thought to have applied for membership.
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Ukraine's gas monopoly to demand $2.6bn from Russia for Crimean assets www.rt.com

 
Ukraine’s national oil and gas company Naftogaz and its six subsidiaries are planning to sue Russia for the loss of assets in the Crimea, according to a statement released by the group.
 
“Naftogaz has preliminarily estimated the damage to the group at $2.6 billion,” the company says, stressing that the claim includes property of Naftogaz, Chornomornaftogaz, Ukrtransgaz, Ukrgazvydobuvannia, Ukrtransnafta, Gaz Ukrainy and Likvo. Naftogaz claims the seizure of Crimean energy assets owned by the group violates the bilateral agreement on promotion and mutual protection of investments, signed by the two governments.
 
“After the illegal invasion of Crimea and the occupation of the peninsula in 2014, the Russian Federation applied an ambitious and well-coordinated scheme of depriving Ukrainian companies of their property without paying compensation,” the company says.
 
In March, Naftogaz said it was planning to sue Russia over the Crimean assets, and that it would seek international investment arbitration.
 
Earlier this year, Naftogaz announced the start of compensation negotiations over the nationalizing of Chornomornaftogaz and Ukrtransgaz, which formed one enterprise after Crimea held a referendum to join Russia two years ago.
 
On March 16, 2014, the referendum asked the people of Crimea whether they wanted to join Russia, or if they wanted to restore the 1992 Crimean constitution and Crimea's status as a part of Ukraine. The referendum took place five days after the Crimean government declared the independence of the Republic of Crimea. The vast majority voted in favor of Crimea seceding from Ukraine and rejoining Russia.
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Yahoo boosted by profits rise as Verizon reviews hacking impact www.bbc.com

 
Yahoo's profits more than doubled in the last three months, a boost for the beleaguered firm whose plan to sell its core business was thrown into doubt.
Verizon Communications agreed to buy Yahoo for $4.8bn (£4bn), but disclosure of huge data breach put a question mark over the deal.
In the quarter to 30 September, Yahoo's profits rose to $163m, from $76.3m last year, on revenue up 6.5% to $1.3bn.
Chief executive Marissa Mayer said the figures underlined Yahoo's value.
"We remain very confident, not only in the value of our business, but also in the value Yahoo products bring to our users' lives," she said in a statement.
Revenues from mobile operations during the quarter reached $396m, up from $271m the previous year.
"We launched several new products and showed solid financial performance across the board," Ms Mayer said.
The results, the first financial update since Yahoo and Verizon announced their deal, beat most analysts' forecasts.
Yahoo's shares rose 1.3% in after-market trading on Wall Street, which analysts said reflected confidence that the data breach had not sparked a mass exodus of users of the firm's email system.
Yahoo disclosed last month that a hack affected about 500 million user accounts. Verizon said subsequently that the news could have a "material impact" on its plan to buy the company.
Ms Mayer said on Tuesday: "We're working hard to retain [users'] trust and are heartened by their continued loyalty as seen in our user engagement trends."
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China's economy grows steadily at annual rate of 6.7% www.bbc.com

 
China's economy grew at an annual rate of 6.7% in the three months to September, government data showed, a sign that growth is stabilising.
The figure was the same rate as the previous two quarters, and was in line with forecasts.
The spell of stability will reassure investors after China's markets and currency crises earlier this year sparked fears of a further slowdown.
China's economic performance has a big knock-on impact around the world.
Full year growth for 2016 is still likely to be weaker than last year's, which was already the slowest in 25 years.
And there are growing concerns that growth is being propped up by government spending and growing debt - with private investment tumbling to record lows.
Construction boom
"The general performance was better than expected," the National Bureau of Statistics said in a statement when releasing the data on Wednesday.
The figure is in line with Beijing's growth target of 6.5%-7% for the year.
Real estate has been a driving force behind China's economy this year, with separate data released on Wednesday showing that investment in property rose by 5.8% between January and September with sales increasing by almost 27%.
This is despite government efforts to try and prevent more property bubbles - with some cities demanding bigger mortgage deposits or banning second homes.
Karishma Vaswani: Pigeon lofts and tulip fever
China is the world's second-largest economy and the second-biggest importer of both goods and commercial services.
China also plays an important role as a buyer of oil and other commodities. Its slowdown in growth has been a factor in the decline in prices of those goods.
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Hyundai to make China-only vehicles, green cars to battle local brands www.reuters.com

Hyundai Motor Co on Tuesday said it aims to make more China-only and environment-friendly cars at two new Chinese plants, as it strives to fend off competition from Chinese rivals and slowing growth in the world's biggest auto market.
 
The plans are part of a strategy announced on the opening of South Korean automaker's fourth Chinese factory, which will be followed by fifth plant next year.
 
Hyundai and sister Kia Motors Corp, which together rank third in China sales, saw their combined market share fall to 8 percent this year, hitting their lowest since 2007 as domestic rivals won customers with cheaper sport utility vehicles (SUVs).
 
To boost sales capability, Beijing Hyundai - a joint venture with domestic peer BAIC Motor Corp Ltd - replaced its head earlier in October as part of a reshuffle of China executives.
 
Hyundai said its new plants will each have annual production capacity of 300,000 cars, raising total capacity in its biggest market by about half to 1.81 million cars. Including Kia's output, total capacity would be 2.7 million.
 
"We will accelerate our efforts to achieve a market share of more than 10 percent again with the (factory) opening," Hyundai said in a statement on Tuesday.
 
China's passenger car market is projected to grow 1 percent in 2017 versus 10 percent this year, Hyundai Motor said, citing data from China's State Information Center (SIC). Tax breaks for small engine cars, which boosted 2016 sales, will expire at the end of December.
 
Hyundai said its new plants will build models of varying sizes to compete with low-cost domestic rivals. It aims to sell a China-only SUV from as early as next year, with more SUV models planned. Reuters earlier this year reported that Hyundai and Kia plan to launch three low-cost SUVs in China from 2017.
 
"Not all SUVs will win - but the (makers) who localize the designs and features to Chinese tastes will be the winners," said James Chao, Asia-Pacific managing director at researcher IHS Automotive. He said SUVs will account for 40 percent of the passenger vehicle market by 2023, from 34 percent this year.
 
Hyundai also said it aims to produce nine green vehicles - petrol-electric hybrid, plug-in hybrid, electric and fuel cell - in China by 2020, making up 10 percent of its sales in the country by that year. At present, green vehicles account for a fraction of Hyundai's China sales.
 
China surpassed the United States last year to become the largest maker of electric cars following government subsidies aimed at curbing pollution.
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Online firm launched to pitch Japan to foreigners www3.nhk.or.jp

Three major Japanese companies have launched an online source of information to help people abroad learn more about Japan.
 
Travel agency JTB, logistics firm Nippon Express and department-store operator Isetan Mitsukoshi Holdings jointly established Fun Japan Communications.
 
The new company takes over a web service previously run by Nippon Express and boasting around 330,000 members outside Japan. The company will use it to disseminate information about tourist attractions, culture, technology, food and cosmetics.
 
Company officials say they will promote many aspects of Japan ahead of the 2020 Tokyo Olympics and Paralympics.
 
They hope their efforts will help lure more tourists from abroad, deepen understanding of Japan, and increase exports to other countries.
 
President Daisuke Fujii told reporters that the company's activities will serve as a bridge between Japan and the rest of Asia.
 
He added that he wants to ignite the growth and development of Japan by revitalizing rural economies through an increase in foreign visitors and promoting Japanese culture.
 
The company plans to focus on strengthening services to other parts of Asia by providing information in their languages.
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