1 MONGOLIA DRAGGED ITS WILD HORSES BACK FROM EXTINCTION – CAN IT SAVE THE REST OF ITS WILDLIFE? WWW.THEGUARDIAN.COM PUBLISHED:2024/01/13      2 FOUR KILLED BY HEAVY SNOW IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2024/01/13      3 CHINA-MADE BUSES TO HIT THE ROAD IN MONGOLIA'S CAPITAL WWW.XINHUANET.COM PUBLISHED:2024/01/13      4 MONGOLIA'S GDP EXPECTED TO GROW BY 6.2% IN 2024 - WORLD BANK WWW.AKIPRESS.COM PUBLISHED:2024/01/13      5 CHINA'S IMPORTS OF MONGOLIAN COAL SET TO RISE AS TRANSPORT IMPROVES WWW.REUTERS.COM PUBLISHED:2024/01/13      6 RUSSIA BOOSTS FUEL EXPORTS TO CENTRAL ASIA, AFGHANISTAN AND MONGOLIA IN 2023 WWW.REUTERS.COM PUBLISHED:2024/01/13      7 MONGOLIA'S INFLATION DOWN TO 7.9 PCT WWW.XINHUANET.COM PUBLISHED:2024/01/11      8 PRESIDENT OF MONGOLIA INVITED HEADS OF STATE OF TWO NEIGHBORING COUNTRIES WWW.GOGO.MN PUBLISHED:2024/01/11      9 63.2 PERCENT OF MILK AND DAIRY PRODUCTS DOMESTICALLY SOURCED WWW.MONTSAME.MN PUBLISHED:2024/01/11      10 ELECTRIC VEHICLE CHARGING STATIONS TO BE BUILT AT 25 LOCATIONS IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/01/11      ИНФЛЯЦЫН ТҮВШИН 7.9 ХУВЬТАЙ ГАРЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/01/14     АЮУЛТ ҮЗЭГДЭЛ, ОСЛЫН ТОХИОЛДОЛ ӨМНӨХ ОНООС 4.3 ХУВИАР ӨСЖЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2024/01/14     ОЛОН УЛСЫН ЗАХ ЗЭЭЛЭЭС 225 САЯ АМ.ДОЛЛАРЫН БОНДЫГ АМЖИЛТТАЙ АРИЛЖААЛЛАА WWW.IKON.MN  НИЙТЭЛСЭН:2024/01/14     "МОНГОЛЫН ХӨРӨНГИЙН БИРЖ" ХК НЭГ ЖИЛИЙН ХУГАЦААНД 15.1 САЯ ТОНН НҮҮРСИЙГ ₮7.4 ИХ НАЯДААР АРИЛЖЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2024/01/14     ИНФЛЯЦЫГ ТОГТВОРЖУУЛАХАД ЧИГЛЭСЭН МӨНГӨНИЙ БОДЛОГО ХЭРЭГЖҮҮЛНЭ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2024/01/14     ИРЭЭДҮЙН БЭЛЭН БАЙДЛЫН ИНДЕКСЭЭР МОНГОЛ УЛС 124 УЛСААС 75 ДУГААРТ ЭРЭМБЭЛЭГДЭВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/01/14     XII САРД ШИНЭ ОРОН СУУЦНЫ ҮНИЙН ӨСӨЛТИЙН ХУРД ҮЛ ЯЛИГ СААРЧ, 9.9 ХУВЬ БОЛОВ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2024/01/14     БҮХ ТӨРЛИЙН ТЭЭВРЭЭР 105 САЯ ТОНН АЧАА ТЭЭВЭРЛЭЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/01/14     ИНФЛЯЦ 3 САР ДАРААЛАН НЭГ ОРОНТОЙ ТООНД ХАДГАЛАГДАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/01/11     ӨНГӨРСӨН ОНД НҮҮРСНИЙ ЭКСПОРТЫН 92 ХУВИЙГ АВТО ЗАМЫН ХИЛИЙН БООМТООР ГАРГАЖЭЭ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2024/01/11    

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Truckmaker Volvo beats earnings forecast, sees U.S. market weaken www.reuters.com

Swedish truckmaker Volvo (VOLVb.ST) reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping U.S. demand for commercial vehicles.

Heavy-duty trucks, where Volvo is competing with Germany's Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE), are benefiting from strong demand across Europe while battling downturns across the Atlantic.

Volvo, which sells trucks under the Mack, Renault and UD brands as well as its own name, scaled back its outlook for North America, saying it expected industry wide sales of 240,000 trucks, down from a forecast for 250,000 given in April.

Weaker markets in the United States and also China, where sales of construction equipment are falling, will test the new leadership team's skill in boosting profitability.

"In the second quarter we were able to continue the improvement of our underlying profitability despite declining sales, thanks to positive cost development," said CEO Martin Lundstedt, a former Scania boss appointed last year. Scania had long boasted some of the best profit margins in the business.

Gothenburg-based Volvo said order intake of its trucks fell 8 percent in the second quarter compared with a 1 percent drop seen by analysts. A 29 percent fall in North American truck orders led the decline.

Volvo shares rose 0.8 percent by 0756 GMT (03:56 a.m. EDT), outpacing a 0.7 percent fall in the in the STOXX Europe 600 Industrial Goods & Services Index .SXNP. The stock is up 12 percent so far this year compared with a 2 percent drop for the index.

"The earnings are really good, and what stands out is primarily the 10 percent operating margin in trucks despite them scaling back output in North America," Handelsbanken Capital Markets analyst Hampus Engellau said. "This is exactly what one wanted to see."

Lundstedt has come on board as Volvo begins reaping the benefits of a 10 billion Swedish crown ($1.17 billion) cost cutting drive intended to make the sprawling group less prone to sharp swings in profitability as cyclical truck markets periodically slump.

The group said adjusted operating earnings rose to 6.13 billion crowns from a year-ago 5.98 billion, beating a mean forecast for 5.64 billion in Reuters poll of analysts.

It reported adjusted operating margin of 7.8 percent compared with a year-ago 7.1 percent and the 7.0 percent seen by analysts.

"The results tells us that Volvo are on track to boost its earnings generation capacity also when demand is not great," said Danske Bank analyst Bjorn Enarson.

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Baidu uncovers trick gambling searches www.chinadaily.com

China's biggest online search engine, Baidu, said on Monday that it had notified police of illegally altered links that redirect users to gambling sites. The links had found their way surreptitiously into Baidu's search results at night.
 
For the past two months, a search after 10 pm for keyword "Grand Lisboa", a well-known casino in Macao, delivers top results linked to online gambling sites marked as commercial promotions. The search results will return to legitimate information about the casino after 9 am, Beijing News reported on Monday.
 
Baidu responded to the report with its own investigation.
 
"Baidu focuses on the credentials of the company registered for promotions. But the contents of promotional websites cannot be monitored in advance. So we make sure every website is screened as soon as they go live," said Gu Guodong, executive director of marketing at Baidu, during a press briefing in Beijing on Monday.
 
On average Baidu screens 470 million pieces of content every day, or 5,000 per second. Computers can eliminate 95 percent of the illegal information, but the rest must go through manual screening. The whole process can take up to four hours.
 
The Nasdaq-listed company admitted that it has to do more to improve the efficiency of such screening to prevent people from posting illegal promotional content.
 
Gambling is illegal on the Chinese mainland. Baidu blocked 8,623 gambling sites and 7,239 gambling-related keywords in the first three months of the year, the company said.
 
To bypass China's internet administration, illegal gambling sites steal the details of a legitimate company to use as registration information on Baidu. For example, eight gambling sites were registered in the name of a car parts dealer in Central China's Henan province, Beijing News reported.
 
A staff member at that company told the newspaper that they had no idea the company's registration information had been stolen and was being used for any sort of online promotion.
 
Baidu said it monitored the illegal activities from car parts company's stolen Baidu account. The gambling promotion appeared at 11 pm on June 25 and was removed by Baidu at 6 am the next day.
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Ms Park’s attendance in person lifts up importance of Mongolia-S.Korea business forum www.en.montsame.mn

Ulaanbaatar /MONTSAME/ In scope of the official visit of the S.Korean President Ms Park Geun-hye, a Mongolian-S.Korean Business Forum was held at Shangri La Hotel of Ulaanbaatar. South Korea is the fourth largest trade partner of Mongolia and the seventh in investment.

S.Korea’s businessmen have been running businesses in Mongolia of public catering, hotels, healthcare and information technology. The Business forum happened to reside in important times of launching of new projects on energy, particularly, in renewable energy.

Some 190 business representatives from the Republic of Korea and 200 businesspeople and state officials from Mongolia took part in the forum, held July 18, organized by the Chambers of Commerce and Industry of Mongolia and S.Korea.

Ms Park said: “Republic of Korea is a major manufacturer of latest technologies, whereas Mongolia leads the world with its natural resources”. Therefore, the two countries have broad capacity to counter-complement each other’s economy and widen the cooperation, she emphasized. President of the Chamber of Commerce and Industry of Mongolia B.Lkhagvajav expressed his confidence in the forum in its role of upgrading the bilateral business ties, and highlighted that Mongolian businessmen are now required to pursue the international standards while running their activities.

The attendance of S.Korean President Ms Park Geun-hye in person lifted up the significance and prestige of this business forum. The representatives of two sides gave seven presentations, and signed cooperation MoUs between companies. 

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Netflix price rises prompt subscribers to turn off www.bbc.com

Netflix shares fell sharply after the video streaming firm added fewer subscribers than expected ahead of US prices rises.
The company added 1.68 million users in the three months to June - well below its forecasts of 2.5 million.
Subscriber cancellations rose "slightly and unexpectedly" ahead of higher charges for existing users.
The numbers sent Netflix shares down 13% to $85.90 in after-hours trading in New York.
If that loss extends when Wall Street opens on Tuesday, the stock will have lost about a quarter of its value this year.
Netflix shares are often subject to big swings as investors bet on its drive to redefine global television viewing habits.
Wedbush Securities analyst Michael Pachter said: "The shares are down because their domestic subscriber growth slowed to a crawl ... and domestic profits fuel their international losses."
Netflix admitted that growth had slowed both in the US and international markets: "We are growing, but not as fast as we would like or have been."
Analysts estimate that about 20 million subscribers may be forced to pay between $1 and $2 more a month by the end of this year.Netflix said the increases were one reason why the company will add just 300,000 US subscribers in the three months to September - far fewer than the 880,000 added in the same period last year.
Revenue for the quarter rose 28% to $2.1bn, driven partly by Netflix's higher prices.
The streaming service, best known for shows such as Orange is the New Black, House of Cards and the Unbreakable Kimmy Schmidt, is now available in almost every country. However, it is facing competition from rival services such as Amazon Prime and Hulu.
Netflix also faces the challenge of localising or adapting its offerings to different countries and cultures.
It remains shut out of China due to what it called a "more challenging" regulatory environment.
The mainland does not yet permit streaming services from Disney or Apple either.
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Softbank shares slide 10% after ARM takeover www.bbc.com

Shares in Japan's Softbank have fallen 10% after being hit with a glut of sell orders following its purchase of ARM Holdings.

The £24bn ($32bn) deal for the UK chip designer is Softbank's biggest acquisition.

Investors could not react to the takeover on Monday as the Tokyo stock market was closed for a holiday.

Both the benchmark Nikkei 225 and broader Topix opened 0.7% higher after the long weekend.

Shares of Japanese games developer Nintendo jumped 10% on the continued success of its new augmented reality game Pokemon Go, which has proved to be a big hit globally.

Nintendo now has a bigger market capitalisation than Sony and luxury fashion house Hermes following its gains over the last week, according to Bloomberg data.

Meanwhile, the ASX 200 in Sydney was flat ahead of the release of minutes from the Reserve Bank of Australia's June meeting.

South Korea's Kospi is trading 0.3% lower in Seoul.

Hong Kong stocks opened 0.3% lower on profit-taking while the Shanghai Composite Index fell 0.1%.

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G20 to discuss Brexit fallout www3.nhk.or.jp

Finance ministers and central bank chiefs from the Group of 20 economies will discuss ways to minimize the fallout from Britain's decision to leave the European Union.
 
The officials will hold their first meeting since the Brexit vote in the Chinese city of Chengdu on Saturday and Sunday.
 
The agenda is expected to include trends in financial markets, a US interest rate hike, and global risks such as the slowdown in China and other emerging economies.
 
The Brexit vote has sparked turmoil and uncertainty in markets. The Japanese yen surged against the dollar to its highest level in more than two and a half years as investors seeking safe haven bought the currency.
 
The International Monetary Fund has cut its growth forecast for the 19-member eurozone for the next year by 0.2 percentage points to 1.4 percent.
 
Japanese Finance Minister Taro Aso said last week that countries should do what they can to minimize the impact of the Brexit vote. But he said too many factors remain unclear. He said he first wants to listen to EU and British officials.
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Asian law associations' leaders to assemble in UB www.mongolia.gogo.com

The 27th Summit of the Presidents of Law Associations in Asia is to take place in Ulaanbaatar, Mongolia on July 21 and 22. This year’s POLA Summit will run discussions under topics “Independence of Constitutional Courts: Role of Lawyers and Law Associations” and “Mining and Improving Legal Capacity and Human Rights”.
The Mongolian Lawyers’ Association, joined POLA in 2014 is hosting its summit at home for the first time. The right to host this event was obtained in 2015 POLA Summit, held in Goa, India.
The POLA is a non-political organization, established in 1990 with an aim to protect interests of the lawyers of Asian and Pacific countries and to improve their professional responsibilities and legal education.
The 27th POLA Summit expects adoption of a declaration of privileges of the lawyers in the region.
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Bank of America second quarter profits fall 19% www.bbc.com

Bank of America reported a 19% slide in profit in the second quarter, as persistently low interest rates hurt the bank's loan business.
The bank made just $3.89bn (£2.93bn) in profit during the period between April and June, down from $4.8bn last year.
The results still beat analysts expectations, and Bank of America's shares rose 1.8%.
Profits across US banks have been hit by the Federal Reserve's low interest rate policy.
"We had another solid quarter in a challenging environment," said chief executive Brian Moynihan.
Bank of America opted to take a $1bn charge, in anticipation of customers refinancing their mortgages in the ultra-low interest rate environment.
The bright spot for Bank of America was its trading revenue, which rose sharply following the UK's vote to leave the European Union.
Revenue from the global trading division climbed 12% to $3.8bn for the quarter.
The bank also continued its strategy of cutting employee and branch numbers as a way to reduce costs. The number of staff fell by approximately 6,000, and the number of bank branches fell by 108.
Mr Moynihan said expenses were down 3%, to levels not reached since 2008.
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Ruble rises as emerging market cash shifts from Turkey www.rt.com

The Russian currency strengthened on Monday, trading at a nine-month high of 63.10 to the US dollar and 69.64 to the euro on the Moscow Stock Exchange.Analysts link the ruble growth to dividend payouts and the tax season, as well as nervous emerging market investors shifting their money from Turkey after this weekend's attempted coup.
 
Overall, the Russian currency has gained 17 percent this year, the most in emerging markets after Brazil’s real. The ruble exchange rate, which was traditionally tied to the oil price, was performing better than crude which traded at $47.71 per barrel Monday.
 
The head of the monetary and financial department of Citibank’s local branch Denis Korshilov explained the ruble’s rally by the peak tax season in Russia. Companies are now paying dividends and converting funds into rubles, thus strengthening the currency, he told business daily Vedomosti. The Russian tax period started on Friday and will peak on July 25.
 
“Taxes and dividend payments will remain key drivers for the ruble this week,” Alexey Egorov, an analyst at Moscow-based Promsvyazbank told Bloomberg. “Some investors may switch their investments from Turkey into Russian assets amid uncertainty in Turkey after the failed coup attempt."
 
According to Egorov, the ruble’s gains mean it’s catching up with its fair value relative to oil. He added the currency should trade as strong as 62 to the dollar based on the current price of crude.
 
Some experts say Friday night’s coup attempt in Turkey, which pushed investors to buy into safe havens, has also helped the ruble shrug off a slump in crude prices in the last two weeks. Others claim the political crisis in Turkey where army officers tried to take control of the country, didn’t have any effect on the Russian financial market.
 
"Even though the attempt of a military coup in Turkey has failed it could push the country's economy into a protracted crisis. However, for the global economy in general, the incident is of little threat,” an analyst from Rossiysky Capital bank Anastacia Sosnova was cited by finam.ru
 
The Turkish lira plunged almost five percent on Friday during the attempted military overthrow of Erdogan's government. The lira reached its lowest level since the 2008 global financial crisis.
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Tech arms race lifts Japan carmakers' R&D budget to record www.asianikkei.com

TOKYO -- Rushing to meet technological needs in the era of tightening environmental regulations, Japanese automakers are set to spend a record sum on research and development this fiscal year.
 
R&D investment by seven major Japanese carmakers will rise to an all-time-high 2.81 trillion yen ($26.8 billion), according to data compiled by The Nikkei. That would mark a 2.8% uptick from fiscal 2015 and the seventh straight annual increase.
 
The figure represents a jump of nearly 1 trillion yen from fiscal 2009 -- shortly after the financial crisis. In addition to fuel-efficient vehicles, the automakers are eager to get their hands on autonomous driving technologies. With their budget accounting for a fourth of R&D spending among manufacturers, the auto sector holds significant sway on technological innovation.
 
Of the seven companies, Toyota Motor, Nissan Motor, Suzuki Motor, Mazda Motor and Fuji Heavy Industries are planning record-high spending.
 
Toyota's outlays are to increase 2.3% year on year to 1.08 trillion yen, which includes funds for unit Daihatsu Motor and others. That compares with equivalent investment of 800 billion yen to 900 billion yen by such foreign rivals as General Motors of the U.S. and Daimler of Germany.
 
Toyota has set its sights on both zero-emission fuel cell vehicles and plug-in-hybrids to respond to tighter environmental regulations. Its R&D spending is to surge about 20% from a decade ago, while capital spending is to drop by 10% or so to 1.35 trillion yen. This highlights a sharpening focus on intellectual property.
 
Nissan's R&D spending will climb 5.3% to 560 billion yen, as the company seeks to develop biofuel-powered fuel cells in order to extend electric vehicles' driving range.
 
Honda's will decrease by 4.1% because of model development cycles. But the company will open an R&D site in central Tokyo this fall to study the artificial intelligence necessary for self-driving technologies, in collaboration with other research institutes.
 
Suzuki plans to lift R&D spending 6.9% to 140 billion yen as it seeks to strengthen green offerings in emerging economies. Mazda, with a focus on fuel economy, will increase spending 7.2% to 125 billion yen. Subaru maker Fuji Heavy will ramp up spending 17.2% to 120 billion yen, and Mitsubishi Motors plans a 23.3% jump to 97 billion yen.
 
While the percentage increases are bigger for these midtier automakers, the gap in investment is widening compared with top automaker Toyota, whose spending had already reached 800 billion yen 10 years ago.
 
Smaller manufacturers that cannot afford huge spending will likely seek outside business resources, says Carlos Ghosn, CEO of Nissan, predicting a possible industry realignment. Nissan has agreed to take a 34% stake in scandal-mired Mitsubishi Motors.
 
Capital spending by the seven automakers is seen totaling 3.01 trillion yen for fiscal 2016. This is a 4.5% increase on the year but still 0.6% lower than in fiscal 2006, before the financial crisis hit.
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