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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India to tap into Russia’s undeveloped coal, iron ore deposits www.mining.com

India plans to expand the scope of its current investments in the Russian commodity market by helping the European nation developed its large coal and iron ore reserves, as well as boosting Russia’s fertilizers sector, local media reported.
 
During the 5th meeting of the India-Russia Working Group on Modernization and Industrial Cooperation, both sides also identified other fields for potential cooperation, including the modernization of steel manufacturing facilities in India and participation of Indian power equipment supplier in upgrading Russia’s power sector, Economic Times reports.
 
New Delhi has stepped up efforts this year to grab major stakes in Russian mining and energy companies. In March, a group of Indian state firms grabbed about 50% of a Siberian oil field run by Russia’s main crude producer, Rosneft.
 
Three months later, India’s Oil and Natural Gas Corporation said it would allocate a total of $5 billion this year to speed up its projects in Russia, Sputnik News reported.
 
India’s total investment in Russia's oil and gas sectors could reach $15 billion over the next four years, Minister of Industry and Commerce Nirmala Sitharaman said last month, RT reported.
 
According to Sitharaman, New Delhi injected $8 billion into the Russian energy sector prior to 2015, while Moscow’s investments in India totalled $3 billion.
 
Behind the transactions, there is India’s interest in securing supply of coal, liquefied natural gas (LNG), diamonds and fertilizers from Russia.
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Volvo and Uber to jointly develop self-driving car www3.nhk.or.jp

Swedish-based auto firm Volvo Car Group has agreed on a business alliance with ride-hailing service Uber to develop self-driving cars.
 
Volvo announced the agreement with Uber on Thursday. They will invest 300 million dollars to jointly develop the autonomous vehicle based on Volvo's cars.
 
They will also cooperate in developing highly accurate 3-dimensional maps and sensors used to detect objects in busy streets and other diverse environments.
 
Analysts say Volvo wants to create self-driving cars as early as possible in cooperation with Uber. Volvo has the software technology for such vehicles, and Uber hopes to introduce new ride-sharing services using driverless cars with sophisticated safety technologies.
 
Major auto companies and information technology firms are teaming up to develop self-driving cars.
 
General Motors has developed self-driving cars with one of Uber's rivals. Ford has invested in 4 ventures to put driverless vehicles on the market in 5 years.
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Asia stock markets lifted as oil passes $50 a barrel www.bbc.com

Asian share markets are higher after oil prices rose above $50 a barrel on speculation major producers are going to reduce output.
Crude prices have risen by more than 20% from its August low, meaning oil has swung back into a so-called bull market.
Japan's Nikkei rose 0.44% at the open to 16,558.38 while the broader Topix gained 0.4% to 1,296.26.
Australia's S&P/ASX 200 is 0.2% higher while New Zealand is trading flat.
South Korea's Kospi edged up 0.1% in Seoul.
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Turkey may face gas shortages if Russian pipeline not built ‘immediately’ www.rt.com

Ankara should implement Gazprom’s Turkish Stream pipeline as soon as possible, or face problems with natural gas supplies after 2019, according to Ali Şen, chairman of Bosphorus Gaz, a major importer from Russia.Şen is warning that the Russia-Ukraine gas transit contract expires in 2019 and may not be renewed. Turkey gets 14 billion cubic meters of gas per year through the route.
 
“The Turkish Stream project must accelerate. According to the existing contract, gas flowing into Turkey through the Western Line [through Ukraine] will be cut on January 1, 2019. We will have gas shortages if we don’t start working on alternatives now. We don’t have any more patience for more delays,” Şen said in an interview with Anadolu Agency.
 
The Turkish Stream pipeline is intended to deliver gas from the Russian Black Sea coast to Turkey and on to Greece. The project was shelved in 2015 after Turkey shot down a Russian warplane in Syria, but the recent rapprochement between Moscow and Ankara has given the pipeline new life. The capacity is 32 billion cubic meters (bcm), of which Turkey would take about 14 bcm, with the rest going to Europe.
 
Russia is Turkey’s biggest natural gas supplier, selling 28-30 bcm annually for about $6.5 billion. Bosphorus Gaz buys about 3 bcm from Russia.Besides the route through Ukraine, Turkey pumps up to 16 bcm of Russian gas through Blue Stream, another Black Sea pipeline. If the Russia-Ukraine gas transit contract is not extended, the Turkish Stream pipeline not built, and there are technical issues with Blue Stream, Turkey will face a gas shortage.
 
“In the Blue Stream project, pipes sometimes run for more than 2,000 meters under the Black Sea. It would also be a serious problem for gas supply if there was a technical issue. This is another reason why we should start working on Turkish Stream right away,” Şen said.
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Authorities investigate after Tesla car catches fire www.reuters.com

Tesla is working with French authorities to find out why one of its electric cars burst into flames during a test drive.
The four passengers were able to get out of the Model S 90D unharmed, Tesla said.
The incident happened in the area of Biarritz and Bayonne, in the south west of the country.
It comes about three years after the firm's shares dropped following other fires in its Model S cars.
Footage of the incident was caught on camera by witnesses.Three people and a Tesla employee were in the car during the fire earlier this week.
According to local media, the driver had signed up for a test drive on Facebook.
He accelerated on one of the town's main roads when a loud sound was heard coming from the car, the newspaper Sud-Ouest reported.
"In less than a minute, the car was in flames and, in five minutes, it was totally destroyed," the driver, named as Nicolas, was quoted as saying.
A Tesla official said: "Nobody was harmed. The vehicle provided warning and passengers were able to safely exit the vehicle."
"We are undertaking a full investigation and will share our findings as soon as possible," the official added.
In 2013, two instances of Tesla cars catching fire were recorded by US federal regulators, according to Agence France-Presse.
In each, the cars hit debris on the road that pierced the chassis and caused a battery fire.
Both cars were gutted by flames, although the drivers in each incident escaped unharmed.
A third case was also reported in Merida, in Mexico
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Russian court rejects Google appeal against antitrust fine www.rt.com

A Moscow court has rejected an appeal from Google against the $6.75 million fine imposed on the company by Russia's Federal Antimonopoly Service (FAS).The FAS fined the US tech firm for forcing smartphone producers to pre-install its services on gadgets and not allowing third-party services, such as Yandex’s search facility, to be pre-installed on Android-run devices. Yandex, Google’s rival on the Russian market, had filed a lawsuit in 2015.
 
“Leave the court's decision unchanged, the complaint is turned down,” said the court decision.
 
Last Thursday, the FAS imposed a 438-million-ruble ($6.75 million) fine on Google.
 
On Tuesday, the watchdog said it had failed to reach a settlement with the American tech giant.
 
According to the FAS, it is waiting for "fair conditions for effective competition in the rapidly growing market for mobile applications."
 
The watchdog demands that Google remove the obligation to pre-install its services such as Google Maps, Gmail, Chrome and to pre-set Google as the default search engine on Android-run devices.
 
Google retains the right to appeal the decision to a higher court, said FAS spokeswoman Anna Orlova.
 
Google services are used by 20.5 million Russians every month, while Yandex has 20.4 million users. However, Yandex is more popular as a homepage (12.3 million), while Google is only in third place, with 11 million users, behind social network VK.com’s 12.1 million.
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Lenovo quarterly profit rises 64% despite 'challenging' industry www.bbc.com

The world's biggest personal computer-maker, Lenovo, said first-quarter earnings rose 64% to $173m (£132m), beating market expectations.
The Chinese firm said its PC business had delivered "strong profits" despite a slowdown in the overall market.
However, revenue fell by 6% from a year earlier to $10.1bn in the three months to June.
Lenovo attributed that to the "challenging" environment and the decline in China's currency.
The Chinese firm has been aggressively cutting costs and investing in new growth areas such as cloud computing.
"Our PC business delivered strong profits and our smartphone business stabilised compared to last quarter," Lenovo chairman and CEO Yuanqing Yang said in a statement.
"Although the macro-economy and our industries remain challenging, causing a decline in our revenue, we significantly improved our profit year-on-year through innovative products and strong execution," he said.
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Kiev estimates damage from Kremlin trade restrictions at $1bn www.rt.com

Ukraine's economy will lose nearly $1 billion this year due to Russian trade restrictions, according to the country's deputy economy minister, Natalya Mykolska.“Speaking in terms of year-to-year losses due to extended restrictions on transits to Kazakhstan and Kyrgyzstan, we will lose $400 million with GDP losses of 0.3 percent,” Mykolska said.
 
The deputy minister stressed that the department has estimated only direct losses, not considering the revenues lost by Ukraine’s carriers, package makers and logistics sector.Ukraine’s exports to Russia have shrunk by 36.2 percent within five months compared to the same period a year ago, according to Mykolska.
 
“Exports to Kazakhstan started falling in January with May statistics revealing 46.2 percent drop, or $136.4 million,” the official added.
 
Kiev is reportedly developing alternative cost-cutting plans to deliver Ukrainian goods to Kazakhstan and Kyrgyzstan, as ferry services turned out to be unprepared for sizable cargoes.
 
Kremlin introduced an embargo on Ukrainian food products on January 1, 2016, after Kiev joined the anti-Moscow sanctions imposed following Crimea’s reunification with Russia. Last month, President Putin extended the measures till the end of 2017.Russia also imposed temporary restrictions on the transit of Ukrainian goods via its territory to Kazakhstan and Kyrgyzstan.Kiev introduced mirror measures against Russia and appealed to the World Trade Organization, urging Moscow to lift the restrictions.
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Japan shares fall as exports mark a tenth monthly decline www.bbc.com

Japanese share markets are falling after data showed exports fell for a tenth consecutive month and continue to drag on economic growth.
Overseas shipments dropped 14% in July from a year earlier, missing economist estimates for a 13.7% decline. Imports fell 24.7%.
Japan's trade surplus shrunk marginally to 513.5bn yen ($5.2bn;£4bn).
The benchmark Nikkei 225 opened 0.6% lower to 16,649.91 while the broader Topix index shed 0.7% to 1,302.29.
The export and import drops were the sharpest since 2009 and is mostly the result of the stronger exchange rate, according to Capital Economics.
"Looking ahead, we expect the yen to weaken against the dollar towards the end of the year, so the annual growth rates of export and import values should start to recover in coming months," its senior Japan economist Marcel Thieliant said.
"But with external demand sluggish, trade volumes are unlikely to stage a strong rebound."
Other Asian markets are also trading lower after Federal Reserve minutes diminished expectations of an interest rate increase next month.
Australia's S&P/ASX 200 fell 0.3% and futures indicate lower opens in Greater China.
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What Brexit? UK jobless rate falls to 11-yr low www.rt.com

The number of unemployed Britons fell by 52,000 to 1.64 million in July as the country’s labor market showed no signs of adverse effects from the vote to leave the European Union.The unemployment rate remained at 4.9 percent in the three months to June, according to official data released by the Office for National Statistics (ONS) on Wednesday.Average earnings grew 2.4 percent compared with a year earlier, with total pay excluding bonuses rising 2.3 percent, the ONS reports.The latest data also shows that the claimant count – which measures the number of people claiming for unemployment-related benefits – fell by 8,600 against a previously projected 9,500 increase. Overall, 172,000 people joined the workforce during the period covered.
 
The unemployment data followed Tuesday’s inflation rate update which revealed consumer prices index (CPI) growth was a higher-than-expected 0.6 percent in July.
 
Data published by the agency last month showed the unemployment rate in the UK was lower in the three months to May, reaching 4.9 percent – the lowest since 2005 with average wages rising 2.3 percent year-on-year.The unemployment level, seen as one of the major indicators of Brexit-vote impact on the country’s economy, will be continuously observed by the economists in the coming months. According to analysts, the full effects of the historic decision on employer confidence and hiring prospects are still to be seen.
 
The pound sterling posted brief gains following the announcement, reaching 1.3069 against the US dollar.
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