1 DEPUTY PRIME MINISTER S.AMARSAIKHAN DISMISSED FOR VIOLATING ACCOUNTABILITY AGREEMENT WWW.GOGO.MN PUBLISHED:2025/10/29      2 STATE EMERGENCY COMMISSION ORDERS READINESS AMID FUEL-SHORTAGE RISKS WWW.GOGO.MN PUBLISHED:2025/10/29      3 WORLD BANK TO ASSIST MONGOLIA IN COP17 PREPARATIONS WWW.MONTSAME.MN PUBLISHED:2025/10/29      4 CRIMINAL INVESTIGATION LAUNCHED AGAINST MP D.AMARBAYASGALAN WWW.GOGO.MN PUBLISHED:2025/10/28      5 MONGOLIA AND GERMANY TO HOLD NEGOTIATIONS ON DEVELOPMENT COOPERATION WWW.MONTSAME.MN PUBLISHED:2025/10/28      6 MONGOLIAN HEALTH WORKERS BEGIN STRIKE AFTER EIGHT DAYS OF PROTEST WWW.ASIANEWS.NETWORK PUBLISHED:2025/10/28      7 STEPPE FIRE DESTROYS 800 HECTARES OF LAND IN EASTERN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2025/10/28      8 MONGOLIA’S CORRUPTION PROBE AT OYU TOLGOI MINING OPERATIONS UNFOLDS WWW.DISCOVERYALERT.COM.AU PUBLISHED:2025/10/28      9 RIO TINTO AND SPIC QIYUAN BEGIN BATTERY-SWAP TRUCK TRIAL IN MONGOLIA WWW.MINING-TECHNOLOGY.COM PUBLISHED:2025/10/28      10 THE EUROPEAN UNION - MONGOLIA BUSINESS AND INVESTMENT FORUM LAUNCHES A NEW ERA OF ECONOMIC PARTNERSHIP WWW.EEAS.EUROPA.EU PUBLISHED:2025/10/28      "С.АМАРСАЙХАН ХАРИУЦЛАГЫН ГЭРЭЭ ЗӨРЧСӨН ТУЛ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР АЛБАН ТУШААЛААС НЬ ОГЦРУУЛСАН" WWW.EAGLE.MN НИЙТЭЛСЭН:2025/10/29     ЗГ: ГЭР БҮЛИЙН ТУХАЙ ХУУЛИЙН ШИНЭЧИЛСЭН НАЙРУУЛГЫГ ХЭЛЭЛЦЭНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/29     ҮСХ: ДИЗЕЛИЙН ТҮЛШ ЛИТР ТУТАМДАА 74 ТӨГРӨГӨӨР ӨСӨЖ ₮3014 БОЛОВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/29     ЭНЭ ОНЫ ЭХНИЙ 10 САРД 14,785 ХҮҮХЭД ХҮЧИРХИЙЛЭЛД ӨРТЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/29     РИО ТИНТО ГРУПП ОЮУТОЛГОЙ ХХК-Д АВЛИГЫН ЭСРЭГ ШАЛГАЛТ ЭХЛҮҮЛЭВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/28     УОК: ЭРСДЭЛД БЭЛЭН БАЙХЫГ ҮҮРЭГ БОЛГОВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/28     ЛАГ ШАТААХ ҮЙЛДВЭР ТӨСЛИЙГ ТӨР, ХУВИЙН ХЭВШЛИЙН ТҮНШЛЭЛЭЭР ХЭРЭГЖҮҮЛНЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/28     УЛААНБААТАР-СИНГАПУРЫН ЧИГЛЭЛД ШУУД НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/10/28     ЗАЙСАНГИЙН ГҮҮРИЙГ 54 ЖИЛИЙН ДАРАА БҮРЭН ШИНЭЧИЛЛЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/28     ЦЕГ-ЫН ДАРГААР Ж.БОЛДЫГ ТОМИЛЛОО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/28    

Category

Events

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

64x64

Australia's $5 billion bet on clean coal www.mining.com

The Australian government has opened the door to using a $5 billion fund designed to attract investment in northern Australia, to develop clean-coal projects.

The Northern Australian Infrastructure Facility (NAIF), introduced last year, would offer loans of at least $50 million to projects in undeveloped regions of northern Australia, which covers 40% of the Australian continent but hosts just 5% of the population. But Resources Minister Matt Canavan stirred some controversy when earlier this month he suggested the fund could be tapped for clean-coal projects.

While federal ministers are suggesting that "ultra super critical" coal-power stations should be considered because they emit 30% less emissions than older coal plants, critics pan the idea, on both environmental and commercial grounds. 
Clean coal refers to a collection of technologies that mitigate the environmental impacts of coal-generated electricity, including carbon capture and sequestration. While there are a number of demonstration projects in place throughout the world and especially in the United States, the technology is still relatively nascent.

"I've received some interest over the past week associated with our commitment to build base load power stations, including to support clean coal options," Canavan told ABC News. He also cited a report stating that clean-coal power stations could be commercially viable in the north. "Some people might not realise that in North Queensland there is no base-load power station north of Rockhampton and industrial consumers in north Queensland pay often up to double the prices in southern Queensland," ABC News quoted him saying.

The minister's position is in line with the executive branch of the Australian government, which is framing a debate around energy security following recent blackouts.

Last week 90,000 customers of electricity provider Engie lost power when the company failed to switch on its Pelican Point gas plant during a heatwave. In September 1.7 million residents of South Australia were left in the dark after two tornadoes destroyed critical infrastructure.

Energy security in Australia has been thrust into the limelight with the closures of coal-fired power plants, including the Hazelwood power station. In 2015 AGL Energy Ltd, one of Australia’s main electricity providers, said it will shut all of its existing coal-fired power plants by 2050 to curb greenhouse gas emissions. Australia's No.2 power retailer added it would never again build or buy any coal-fired power plants, unless they come equipped with a carbon capture and storage facility.

The government has invested some $590 million in clean-coal technology since 2009, but Australia has yet to have a low-emissions power station.

While federal ministers are suggesting that "ultra super critical" coal-power stations should be considered because they emit 30% less emissions than older coal plants, critics pan the idea, on both environmental and commercial grounds.

According to a report in The Guardian, the federal government's Clean Energy Finance Corporation says clean coal is "seriously challenged" as a commercial investment because the prices of renewable energies are declining. Moreover, the environmental benefits of clean coal are being questioned. Updated data reported by RenewEconomy shows that government estimates of emissions from ultra super critical plants are actually above the current Australian average, and that there is little difference between emissions from the clean-coal plants proposed by the government and emissions from regular coal plants that currently exist in Australia.

...


64x64

Starbucks partners with WeChat to launch social gifting tool www.chinadaily.com.cn

 
Starbucks today announced the launch of "用星说" (Say it with Starbucks), a new social gifting feature on WeChat, China's leading mobile social communications service.
 
The launch is the result of a strategic partnership between Starbucks and Tencent, WeChat's developer, in December 2016.
 
"Starbucks is the first retail brand to bring to life a locally-relevant social gifting experience in China," China Digital Ventures vice president Molly Liu said.
 
During the first stage, WeChat's wallet function offers convenient access for 'Say it with Starbucks' users. They can select from a carefully curated selection of Starbucks-branded gifts and add a personalized message in the form of text, image or video to lift the day of a loved one. Once a gift is received, it will be saved in the recipient's WeChat app and can be redeemed at any Starbucks store in the Chinese mainland.
 
"This is the beginning of an exciting social gifting journey for Starbucks. We are looking forward to inspiring even more of our customers to show their love and appreciation through ‘Say it with Starbucks'. Meanwhile, we will continue to enhance the social gifting experience to celebrate important festivals and holidays in China and the special moments in our customers' lives," Liu added.
 
WeChat targets Chinese domestic users and has 846 million global monthly active users (as of the third quarter of 2016).
...


64x64

Erdenes Mongol and MAK officiates public-private partnership in mining www.montsame.mn

Ulaanbaatar /MONTSAME/ The state-owned “Erdenes Mongol” LLC and the Mongolyn Alt Corporation (MAK) established a joint company named “Erdenes Ashid” to work in geological exploration and studies by signing the agreement on Monday, February 13.

The joint company is to conduct geological explorations, assessments and detailed studies, and is to manage and operate concentrate plants and other factories based on mineral deposits.

Executive Director of Erdenes Mongol LLC Ts.Tumentsogt said: “Founding this company is facilitating the state-owned company to collaborate with MAK, which has abundant expertise in mining exploration and geology”.

“MAK has more than a hundred specialists of mining exploration, whereas the geological exploration is a new field for Erdenes Mongol. Therefore, the companies will be sharing resources to undertake mutually beneficial projects. Our vision is to attract more foreign investment in Mongolia’s mining sector and discovering new deposits”, he added.

...


64x64

Japan business leaders react to Abe-Trump talks www3.nhk.or.jp

 
Japanese business leaders have reacted positively to the meeting between Prime Minister Shinzo Abe and US President Donald Trump.
 
Sadayuki Sakakibara, the Chairman of the Japan Business Federation, or Keidanren, said it will have a significant impact on the future of Japan-US relations.
 
He said he hopes Japan and the US will both benefit from growth and job creation. He added that the two countries will play a leading role in building free and open international economic environments.
 
Toyota Motor President Akio Toyoda told reporters that both leaders agreed to talks based on free and fair trade.
 
Toyoda also expressed hope for an economic dialogue between Japan's Deputy Prime Minister Taro Aso and US Vice President Mike Pence.
 
He added that his company will continue to seek recognition in the US for its contribution to the country's economy.
...


64x64

Germany repatriating gold faster than planned as confidence in euro plunges www.rt.com

 
Berlin is bringing home its gold reserves stored in New York, London and Paris faster than scheduled, Germany’s central bank said Thursday. The move is linked to surging euroskepticism, as new governments in France and Italy may ditch the single currency.
 
The German Bundesbank has already moved 583 tons of gold out of New York and Paris, planning to have a half of its gold back in Germany by the end of 2017, which is ahead of the 2020 plan. The rest will be split between the Federal Reserve Bank of New York and the Bank of England.
 
"We have a lot of discussions about Trump, regarding implications on monetary policy, macroeconomics, etc., but we trust the central bank of the US," Bundesbank board member Carl-Ludwig Thiele told a news conference.
 
"Trump has not triggered a discussion about the storage facility in New York," he said.
 
As French presidential candidate Marine Le Pen and Italy's 5-Star Movement are openly calling to pull out of the euro, some economists in Germany say the repatriated gold may be needed to back a new deutschmark should the eurozone collapse.
 
During the Cold War, 98 percent of Germany's bullion was stored abroad, and so far the biggest repatriation was in 2000 when the Bundesbank repatriated 931 tons from the Bank of England.
 
When the relocation is complete, Germany will still have 1,236 tons in New York, 432 tons in London and the rest in Frankfurt. The current repatriation involves moving 300 tons from New York and 374 tons from Paris. The Bundesbank said it is not worried about keeping gold in England despite Brexit, as London remains a key gold trading market and a safe place.
 
Germany has the second-largest gold reserves in the world after the US with 3,381 tons.
...


64x64

Hyundai Motor hires former GM researcher to lead self-driving car center www.reuters.com

 
Hyundai Motor Group (005380.KS) has hired a former General Motors (GM.N) researcher to oversee its center to develop fully autonomous vehicles, joining other automakers and Silicon Valley giants in accelerating efforts on the fast-growing technology.
 
Lee Jin-woo, 47, who has previously led autonomous driving technology development at General Motors (GM) for more than a decade, will head the newly established Intelligent Safety Technology Center - a combined research body for Hyundai Motor and its affiliate Kia Motors (000270.KS) - starting on Monday.
 
"The new centre will not only enhance existing Advanced Drive Assistance System technologies but also conduct research into artificial intelligence related self-driving car technologies with the aim of commercializing those technologies," Hyundai Motor said in a statement on Monday.
 
Hyundai Motor and Kia, together the world's fifth-largest automaker, aim to develop highly automated vehicles by 2020 and fully autonomous vehicles by 2030.
 
However, experts say Hyundai needs to do more to catch up with rivals in the self-driving car race.
 
Last week, Ford Motor Co (F.N) announced plans to invest $1 billion over the next five years in autonomous vehicle tech firm Argo AI, while GM made a billion-dollar bet a year ago with its acquisition of Silicon Valley self-driving startup Cruise Automation.
 
"Bringing in one person is not enough. Hyundai should form alliances with other companies, which will help hedge financial risks related to developing self-driving cars at a time of falling profit," said Lee Hang-koo, a senior research fellow at Korea Institute for Industrial Economics & Trade.
 
"But this requires commitment from the top management."
 
Hyundai Motor, which has typically promoted executives from within, has hired a series of executives from overseas, mostly in the design and engineering field.
 
Lee earned a post doctorate at Cornell University, after studying at South Korea's KAIST and Seoul National University.
...


64x64

Austria gets its first bitcoin digital currency 'bank' www.rt.com

 
The world’s first dedicated bitcoin bank has opened in the center of the Austrian capital Vienna. It is designed to make buying and selling bitcoin easier and safer than other in-person options.
The digital currency outlet is owned and managed by a local Blockchain startup Bit Trust and is named simply ‘Bitcoin-Bank.’
The ATM machines exchange bitcoin for euro, and vice versa. Customers can also get information about the virtual currency.
Managing Director of Bit Trust Magdalena Isbrandt told state broadcaster ORF the advantages of digital currency is that transactions "are simply much faster and can be done without a middleman.”
She added that “value and money can be sent straight from user to user.”
To receive a bitcoin, a user must have a special address which looks like a string of 27-34 letters and numbers and acts as a kind of virtual postbox to and from which the cryptocurrency is sent.
Since bitcoin addresses are not registered, that makes the whole transaction process anonymous.
According to Andreas Petersson from Bitcoin Austria, anonymity is the main advantage of using digital currency. "If I pay online with bitcoin, I have a degree of privacy. The vendor does not have my credit card number,” he said as cited by The Local Austria.
“If I pay for purely digital goods, like computer games, I have a much better feeling as I’m not handing over all my private data,” Petersson added.
The first bitcoin ATM was set up in Austria three years ago and was successful enough to inspire the launch of further ones. Vienna now has more than 20 bitcoin-friendly vendors ranging from restaurants, bistros, and bars.
Bitcoin was the best-performing currency in 2016, more than doubling in value during the year. It's 126 percent rally came on the back of strong demand in China.
...


64x64

Mongolia Parliament Votes to Nationalize Erdenet Copper Mine www.bloomberg.com

Mongolia’s parliament approved a resolution to nationalize copper, gold and iron-ore assets in the country following a probe that found a $400 million transaction with a closely held company was illegal.

Parliament’s resolution invalidates a previous government decision that had authorized the sale of 49 percent stakes in both Erdenet Mining Corp. and Mongolrostsvetmet LLC to Mongolian Copper Corp. The resolution was approved by a vote of 49 in favor to 12 against, according to a broadcast carried on Bloomberg TV Mongolia.

Former Prime Minister Saikhanbileg Chimed announced the sales on the eve of elections in June, declaring the purchases from Russia’s state-controlled Rostec a victory for a country that wanted to put greater control of its natural resources in the hands of Mongolians. Still, Saikhanbileg’s Democratic Party lost the election to the Mongolian People’s Party.

The purchases of the 49 percent holdings in the two mining stakes by Mongolian Copper used illegal loans and violated the constitution, according to the probe conducted by a parliamentary working group. Trade & Development Bank of Mongolia LLC spearheaded financing for the deal.

“It appears that there were various legal, governance and transparency issues surrounding the transaction,’’ Dale Choi, head of Mongolia Metals & Mining, said in an e-mail. “Moreover, it seems that public funding was used for private buyout and the government of Mongolia issued international bonds at an expensive 11 percent to supply FX for the transaction. While the privatization is desirable, the way it was done appears questionable and the rule of law should be applied.’’
TDBM Chief Executive Officer Orkhon Onon said the loans weren’t illegal and didn’t violate banking regulations, according to an e-mailed reply to queries Jan. 30.

The Erdenet Mining and Mongolrostsvetmet joint ventures were set up by the former Soviet Union and Mongolia in the 1970s. Erdenet is focused on copper, while Mongolrostsvetmet mines metals, including gold and iron ore.

...


64x64

Panama charges two Mossack Fonseca partners over Brazil link www.bbc.com


The arrests are linked to corruption and bribery allegations involving Brazil's construction giant, Odebrecht.
The two men, Ramon Fonseca Mora and Jurgen Mossack, were detained after two days of questioning.
The Mossack Fonseca partners now face charges of money-laundering.
There is information which "allegedly identifies the Panamanian firm as a criminal organisation that is dedicated to hiding assets or money from suspicious origins," said Panama's Attorney General Kenia Porcell, announcing the arrests.
The pair will be held in detention because they are considered a flight risk.
A defence lawyer for the two men described the evidence against them as "weak".
Odebrecht - Latin America's largest construction firm - has admitted to paying $1bn in bribes to obtain in contracts in 12 different countries.
In last April's "Panama Papers" leaks, more than 11 million documents from Mossack Fonseca were released.
They showed how some wealthy people were using offshore firms to evade tax and avoid sanctions.
Mossack Fonseca denied wrongdoing in the case and said it was the victim of a computer hack. It also maintained that the information leaked was being misrepresented.
Mr Fonseca had served as a minister in Panamanian President Juan Carlos Varela's government but stepped aside earlier in 2016 after separate allegations linked his law firm to the corruption scandal engulfing the Brazilian state oil company Petrobras.
 
 
 
 
 
...


64x64

Germany reclaims gold hidden from Soviets in New York vaults www.cnn.com

Germany's gold has come home.
The country's central bank has completed a transfer of gold bars worth $13 billion from New York to Frankfurt, part of a plan to repatriate roughly half the reserves it keeps abroad.
Germany has been bringing gold home from New York and Paris since 2013. So far, 642 tons has been transferred.

With the latest transfer, the central bank has shifted a total of 330 tons of gold that had been stored with the New York Federal Reserve, deep in a subterranean vault that rests on the bedrock of Manhattan Island. The bank won't say how it moves the gold.
The plan will be completed when a final 100 tons is returned from Paris.
The central bank says it is bringing the gold home to help build public "trust and confidence."
But it's also a recognition that times have changed: Germans are no longer worried about preventing their gold reserves from falling under Soviet control -- a real fear during the Cold War.
And the central bank no longer needs to keep gold in Paris as a protective measure that would allow it to quickly exchange international currency in an emergency. Both countries use the euro.
Germany gold bar 
In the wake of World War II, Germany gradually rebuilt its decimated gold reserves. As its economy strengthened, it converted the U.S. dollars that paid for its exports to gold and stored the proceeds in foreign vaults.
Fears of Soviet invasion kept the reserves abroad even after the value of the dollar was decoupled from the price of gold.

In recent years, rumors and conspiracy theories have circulated in Germany about its foreign gold reserves. Some fringe observers questioned whether they had been lost or otherwise compromised.
The issue eventually spilled over into mainstream politics, and the German Federal Court of Auditors asked for an inspection of foreign gold reserves in 2012.

The central bank mounted a defense, saying it received annual updates from foreign central banks where the gold was being stored. It said that the "integrity, reputation and security of these foreign depositories are beyond reproach."
The following year, however, the central bank announced that it would bring half its reserves home to Frankfurt.
Germany will store its remaining reserves in London and New York, where they could be quickly exchanged for pounds or dollars in an economic emergency.

 
 
 
 
 
...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook