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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OPEC deal could give Russia extra $15bn in oil revenue www.rt.com

 
With the Russian budget based on the oil price averaging $40 per barrel, the jump to $55 after OPEC agreed to production cuts could add one trillion rubles (about $15 billion) to Kremlin coffers, according to VTB Capital analysts.
 
If the average price of oil remains at $55 per barrel next year, Russian earnings from energy will be higher by 1.1 trillion rubles totaling 6.1 trillion rubles, or $95 billion, the bank said.
 
According to Uralsib bank analysts, quoted by Vedomosti daily, if oil prices are 15-25 percent higher than budgeted next year, and there is no unplanned spending, the budget deficit will be reduced to 1.8 percent of GDP, compared to nearly four percent this year. And if the trend continues, the budget hole will be eliminated in 2018.
 
VTB Capital points out, however, that with growing oil revenues costs will rise as well, and the Finance Ministry will just borrow less money and burn fewer reserves.
 
Oil prices were down slightly after topping $55 per barrel for first time in 16 months on Monday.
 
Brent was trading 23 cents lower at $54.71, while US West Texas Intermediate slid 43 cents to $51.36.
 
Investors say optimism about the OPEC-Russia deal which helped boost prices 15 percent is fading. In November, OPEC produced a record 34.19 million barrels per day (bpd) from 33.82 million bpd in October, according to a Reuters survey. At the same time, Russia pumped crude at 11.21 million bpd, another post-Soviet record.
 
"Most of the position adjustments that the OPEC decision forced upon traders have now run their course, and it leaves the market exposed to profit taking," said Ole Hansen, head of commodities strategy at Saxo Bank, as quoted by Reuters.
 
"The meeting on Saturday between OPEC and non-OPEC producers will be crucial to maintaining the bullish sentiment seen since last Wednesday," Hansen added.
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Lego appoints British boss in brand expansion www.bbc.com

Lego, the Danish toy company, is seeking new ways to build its brand and is appointing a new, British boss.

Chief operations officer Bali Padda will take over in 2017 as the first non-Dane to run the business as it restructures its management.
Jorgen Vig Knudstorp, who has led the family-owned company through a ten year turnaround, will chair the Lego board.
A new entity, the Lego Brand Group, aims to exploit "untapped potential" for the toy cupboard stalwart.
The company said the new entity, also chaired by Mr Knudstorp, would "protect and develop" the Lego brand, including its educational and charitable activities, and oversee its Legoland attractions.
Mr Padda will focus on the core business whilst the new vehicle, the Lego Brand Group, will consider new avenues for the brand.
"It will be exciting," he told the BBC. "It [will be] Lego but as you've never seen before. What does that mean? That is what we have to explore."
Lego is still owned by the family of Kirk Kristiansen, who founded the business in 1932. Family members are expected to take an active role within the new Lego Brand Group.
'Believe in the brick'
The company has constructed sturdy foundations under Mr Knudstorp's leadership. But just over a decade ago the structure was more shaky.
The company reached a financial low-point in 2004, as electronic toys swept the market, and the plastic bricks struggled to compete.
"It was tough. We were nearly bankrupt at the time.
"It was not a good situation to be in, but at the same time it was a fantastic challenge," said Mr Padda, who joined Lego from Timberland in 2002.
"We were not focused enough," he admitted. "To a degree we had started to leave the brick behind."
Mr Padda said Lego had focused on "instant gratification", giving children a few ready-made pieces to assemble quickly. The key to the turnaround, he says, was resurrecting the company's "belief in the brick".
The past decade has seen Lego embrace movie tie-ins including Star Wars, Indiana Jones and Harry Potter, as well as introducing smartphone apps and digital games as well as collaborating on The Lego Movie.
The strategy has led to double digit annual growth. In 2015 the company posted revenues of $5.2bn (£4bn), meaning it the world's second-largest toy company after Mattel, the Barbie and Hotwheels maker.
Mr Padda, who spent his childhood in India playing marbles and cricket, and only really encountered Lego through his own children when he was living in the UK, said he would not veer far from the strategy of his predecessor.
"I've been an integral part of setting the strategy. That strategy continues.
"Where I do wish to focus is how we better prepare ourselves for the future from a leadership capability, capacity point of view," he said.
"The world is being disrupted in many ways. How do we become a lot more agile to face the challenges that will come to us tomorrow? We don't know what they are, but how do we ensure that we are better prepared?"

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Samsung triumphs over Apple in US Supreme Court patent row www.bbc.com

 
The US Supreme Court has sided with Samsung in the South Korean company's long-running patent fight with Apple.
The court rejected an earlier ruling that Samsung must pay $399m to Apple for copying some iPhone designs.
At issue was how much Samsung must compensate Apple under a 1887 law that patent infringers pay "total profits".
The top US court ruled that paying all profits was wrong, as the features at issue in the Samsung phones formed only a small part of the devices.
However, the dispute is not over. The case now returns to a lower court to decide the amount of compensation that Samsung should pay.
The Supreme Court's unanimous decision followed a legal battle between the world's top two smartphone manufacturers that began in 2011 when Apple sued Samsung, asserting that its rival stole its technology and the iPhone's trademarked appearance.
Samsung had been seeking to pare back the money it paid Apple in December following a 2012 jury verdict that it infringed Apple's iPhone patents and copied its distinctive appearance.
After the trial, Apple was awarded nearly $930m in damages. In May 2015, a US appeals court upheld the patent infringement verdict, but said the iPhone's appearance could not be protected through trademarks. As a result, the court reduced Samsung's payment.
Samsung had argued that the size of the penalty ignored the fact that its phones contain more than 200,000 other patents that Apple did not own.
Apple claimed that Samsung should pay because the iPhone's success was directly tied to its distinctive look.
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First meeting of working group on establishing Mongolia-S.Korea economic partnership coincides with SOMTI6 in Seoul www.en.montsame.mn

Ulaanbaatar /MONTSAME/ The Sixth Meeting of Senior Officials on Trade and Investment took place in Seoul on December 1 and 2. Mongolia, China and South Korea co-chaired the meeting.
 
This meeting is being resumed for the first time since 2008 session, and was participated by delegates from 46 countries.
 
The participants underlined the significance of Ulaanbaatar Declaration issued during the latest ASEM Summit in expanding economic and commercial ties and strengthening connectivity between Asian and European nations, and agreed to organize the ASEM Ministerial meeting, which has been discontinued for a decade, in Seoul next year.
 
During the SOMTI, Mongolian delegates had meetings with the director for Free Trade Agreements of the Ministry of Industry, Trade and Energy, and representatives of the S.Korean government and research institutes. The sides held the first meeting of the joint working group in charge of study for establishing economic partnership agreement.
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Glencore becomes sole owner of Newlands, Collinsville coal mines in Australia www.mining.com

Miner and commodities trader Glencore (LON:GLEN), the world’s biggest supplier of thermal coal, has bought out its two Japanese partners in an Australian coal venture that includes Newlands and Collinsville mines, as well as a stake in an export terminal.

The acquisition of the stakes held by Japanese partners Itochu Corp and Sumitomo Corp, which owned 35% and 10% respectively, makes of Glencore the sole owner of the coal operations. The company recently restarted one of them, Queensland’s Collinsville, in response to higher coal demand from Southeast Asia and favourable prices.

A Glencore spokesman told Platts on Monday that Collinsville was likely to return to full production in early 2017 and that it would be "business as usual" at the Newlands open cut mine.

Last month, the Swiss firm said it was ready to resume operations at another Australian coal mine — Integra. That operation, formally called Glennies Creek, became part of Glencore’s portfolio last year after its previous owner, Brazil’s Vale (NYSE:VALE), mothballed it.

At least seven other coal mines are expected to resume operations in Australia before 2016 ends — four in Queensland and three in New South Wales. These include Collinsville and Isaac Plains, which Vale and Sumitomo sold last year to Stanmore Coal (ASX:SMR) for only $1.

These operations have benefitted from an increasing demand for Australian coal because of restrictions on production in China. They are expected to provide work for hundreds of people and lead to a jobs growth able to keep mild downward pressure on Australia’s unemployment rate.

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Government plans to cut electricity night tariff to zero www.mongolia.gogo.mn

 
In 2017, the Government has planned to improve air quality by providing reliable power supply for ger-area households, cutting electricity night tariff to zero, providing improved stoves and supplying briquette.
National committee to reduce air pollution held its first meeting on Dec 4.
At the meeting, Prime Minister J.Erdenebat delivered opening remarks and stated: "We need to take effective actions against air pollution. In further, the Government will support renewable energy usage, offer electricity tariff discount for households using electric heating, support the import and consumption of high-quality fuel and use natural gas fuel for transportation by spending air pollution charge properly.
"Mongolia is not the only country that is suffering from air pollution. Whole world is paying attention to this issue. Ulaanbaatar city ranks 47th at the list of most polluted 50 cities in the world. Respiratory diseases were 697 per 10 thousand population in 2005 and it has increased by 2.4 percent to 1730 per 10 thousand population in 2014. We need to undertake decisive measures​, including developing strategies and planning to reduce air pollution, supporting the activities of locals and sectors as well as increasing the taxes on aging cars", said Minister of Environment and Tourism D.Oyunkhorol.
According to the law on air pollution charge, about MNT 30 billion are collected in the state budget per year. However, it could not spent properly. This year, MNT 5 billion was budgeted to reduce air pollution.
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Alibaba restructures e-commerce business to get ready for 'new retail' www.chinadaily.com

 
Alibaba Group Holding Ltd announced on Friday its plan to restructure its e-commerce business in an effort to get ready for the era of data-driven new retail.
 
Daniel Zhang, chief executive officer of Alibaba Group, said that the company's business-to-customer site Tmall will be merged with its digital marketing unit Juhuasuan.
 
The decision aims to bring synergy among the company's business, marketing and operation units and explore all kinds of opportunities to digitalize existing businesses and make new businesses out of data, a move intended to better empower retailers.
 
Zhang made the announcement in an internal memo that was later made public on Friday. "We need to unify the service strategies for our customers and make sure the entire retail group can coordinate and act smoothly like one person," he said.
 
China's biggest e-commerce player earlier announced its plan of repositioning itself as a service provider to build digital and physical infrastructure for the future of commerce.
 
"With e-commerce itself rapidly becoming a traditional business, pure e-commerce players will soon face tremendous challenges," Jack Ma, executive chairman of Alibaba Group, said in mid October.
 
"This is why we are adapting and it's why we strive to play a major role in the advancement of this new economic environment," Ma added.
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Apple Watch sales to consumers set record in holiday week, says Apple's Cook www.reuters.com

 
Sales of the Apple Watch to consumers set a record during the first week of holiday shopping, and the current quarter is on track to be the best ever for the product, Apple Inc (AAPL.O) Chief Executive Tim Cook told Reuters.
 
Responding to an email from Reuters, Cook said the gadget's sell-through - a measure of how many units are sold to consumers, rather than simply stocked on retailers' shelves - reached a new high.
 
Cook's comments followed a report on Monday from technology research firm IDC estimating that the tech giant sold 1.1 million units of the Apple Watch during the third quarter of 2016, down 71 percent from the year-ago quarter. The comments offer a glimpse of the gadget's performance during the holiday quarter, which is typically Apple's strongest.
 
"Our data shows that Apple Watch is doing great and looks to be one of the most popular holiday gifts this year," Cook wrote.
 
"Sales growth is off the charts. In fact, during the first week of holiday shopping, our sell-through of Apple Watch was greater than any week in the product’s history. And as we expected, we’re on track for the best quarter ever for Apple Watch," he said.
 
Cook did not respond to a request for specific sales figures for the gadget.
 
Apple has disclosed few details about the performance of the Apple Watch, its first new product released under Cook. The company has not broken out sales of the gadget in its earnings, instead lumping it into an "other products" category that includes devices such as the iPod and Apple TV.
 
Strong sales of the Apple Watch are to be expected during the holiday quarter as the gadget is a more natural gift than some of the company's other products such as the iPhone or Mac computer, said analyst Bob O'Donnell of TECHnalysis Research. Apple also lowered the price of the gadget this year, potentially helping the holiday sales comparison, O'Donnell noted.
 
Apple is facing mounting pressure to show new sources of growth as sales of the iPhone, the company's lifeblood, begin to level off. O'Donnell said he remains skeptical the Apple Watch can fill the void, citing uncertain demand among consumers for smartwatches.
 
"While I’m not surprised that there is a good week, there are still, I think, significant concerns about the category," he said.
 
IDC did not immediately respond to a request for comment.
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Japanese banks to lend to Gazprom www3.nhk.or.jp

 
A group of lenders including major Japanese banks are preparing a joint loan for Russia's government-backed energy giant Gazprom.
 
Sources close to the deal say Sumitomo Mitsui, Mizuho and US lender JPMorgan Chase are in final negotiations for the 860-million-dollar loan.
 
The move comes as Japanese and Russian officials are discussing economic cooperation ahead of a bilateral summit scheduled for December 15th.
 
The 3 banks have loaned money to Gazprom before. The banks said they are expecting growth in global energy needs.
 
The government-affiliated Japan Bank for International Cooperation is also setting up a yen-denominated credit line worth more than 260 million dollars. The funds will be offered to businesses in Russia through a major local bank.
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East and West Tsankhi blocks of Tavan Tolgoi coal deposits both in operation www.mongolia.gogo.mn

 
Erdenes Tavan Tolgoi CEO: Mongolia’s debt to Chalco to be settled by next spring
The Mongol Messenger has previously reported that Erdenes Tavantolgoi JSC, has concluded on a negotiation to increase the price of coal of the East Tsankhi block of the Tavan Tolgoi deposits by 1.8 times or 85 percent. Since last week, an each coal price extracted from the block has been sold for USD 50 for each ton to TTJVCo - the operating company at the coal mine. This action is believed to improve the effectiveness of a contract with TTJVCo and increase a price of Tavan Tolgoi’s coal.
Erdenes Tavan Tolgoi, which is a subsidiary of the Erdenes Mongol LLC - owner of the Tavan Tolgoi deposits, is a development manager of the East Tsankhi coalfield. Newly-appointed CEO of Erdenes Tavan Tolgoi M.Ariunbold said “Chinese government’s aim to eliminate its domestic coal production is influencing the coal price and demand to remain higher and stronger. Concerning the preliminary forecast of the coal price on the index price of exchanges, a ton of coal removed from the east Tsankhi block is projected to be sold for USD 60 beginning from the first quarter of 2017”.
Mongolia has been intermittently paying off its USD 350 million debt to China’s aluminum company Chalco since 2011 in form of deliveries of coal from the East Tsankhi mine. When the contract was made in 2011, it was agreed that the base price of ton of coal to be set at USD 70 and the price would be established seasonally based on the index price of 4 exchanges located in China. “After a series of talks between a working group set-up by the Mongolian Government and Erdenes Tavan Tolgoi and the Chinese side, we have now brought the current coal price to the level that was set in the 2011 agreement. To clarify, as stated in the agreement, a ton of coal should cost USD 70, which is the payment of delivering the coal from mine to the border point. If the delivery cost is excluded, each ton of coal price would be USD 50 at the deposit”.
On the debt repayment to Chalco, CEO Ariunbold said in his interview for itoim.mn website “We are now left with around USD 80 million of debt to repay to Chalco. In the past, the Erdenes Tavan Tolgoi has been giving 65 percent of the total coals extracted from the East Tsankhi mine for the payment of the TTJVCo’s operations at the mine and the remaining 35 percent has been rendered to Chalco for reimbursement”.
In addition, the Erdenes Tavan Tolgoi has requested the Chalco and TTJVCo companies to load larger amount of coal in each shipment to China in order to repay the debt more quickly. He continued to say that if Mongolia would keep the current amount of coal on each shipment to transport to Chalco, the debt would be completed within the early spring of 2017 and after that, East Tsankhi coal would be exported to other buyers.
Another largest section of the Tavan Tolgoi, is the West Tsankhi coal. The Erdenes Tavan Tolgoi has reported that explorations at the block were resumed in order to take advantage of coal price surge and increase state budget revenue. A consortium of Mongolian companies, “SGS”, LLC, Khishig Arvin Industrial LLC and Monnis LLC has been selected as the main operator at the West Tsankhi. The developments are expected to produce 1.1 million tons of coal within the first two months and a ton coal is planned to be sold for USD 60 according to CEO Ariunbold. The total resource of the West Tsankhi mine is estimated at around 4.5 million tons.
Exploration and sales activities of the both the East and West Tsankhi mines are expected to benefit the country’s economy immensely by bringing over USD 100 million of revenue to the state budget as taxes and fees annually, creating more than 5 thousand jobs and increasing foreign currency flow of the country.
 
 
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