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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Events

Events

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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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Government Budget revenue estimated at MNT 4.4 trillion www.en.montsame.mn

Ulaanbaatar /MONTSAME/ At Thursday’s plenary meeting, the State Great Khural (Parliament) adopted essential bills to the country’s growth. Firstly, the parliament passed the bills on the Government Budget for 2017 and the Social Insurance Fund Budget for 2017.
 
The equilibrated revenue of the Government Budget for fiscal year of 2017 is estimated at MNT 4,378,889.9 million and the equilibrate expenditure – MNT 6,759,169.6 million.
 
The sum of funds for investing in projects and facilities is calculated at MNT 250,654.7 million, the repayment for the “build and transfer” concessions – MNT 71,518.6 million.
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London-based banks face 'nightmarish' choices after Brexit www.theguardian.com

Global banking businesses will face nightmarish decisions if the UK loses its access to euro-clearing trading as part of the Brexit negotiations, the Japanese ambassador to the UK has warned.

Koji Tsuruoaka said that Japanese companies would be among those affected as he emphasised the seriousness of what is at stake as the UK prepares for Brexit. Some EU countries are determined to stop the UK retaining its euro-clearing rights post-Brexit, so the business would be transferred to Frankfurt and Paris.

Tsuruoaka said most global financial service providers, including Japanese companies, have concentrated resources in London because it was the most efficient way for global capital to operate.

Removal of UK euro-clearing rights “is not something that would be welcomed at all by the financial service providers,” he said. “Companies have come a long way to establish the most efficient clearing house here in London. Now to be told to go elsewhere, it would be a huge challenge.” He added that no other city represented “a natural answer” as a substitute to London and it would be impossible for banks to discuss with each other where to relocate.

“It would be nightmarish if you think about the business decision they would be forced to make,” he said.

Since the euro was first used as a currency in 1999, London has acted as the centre of euro-clearing for derivatives, despite not being within the single currency area. The French have insisted that no one will be prepared to see the main clearing house outside of the EU in the wake of Brexit.

Tsuruoaka also suggested that it might be necessary for the UK to negotiate an interim Brexit deal with the EU due to the complexity of the talks. There is a two-year negotiating period that would start once Theresa May invokes article 50, the means by which the UK notifies the EU of its plan to leave. The foreign affairs select committee has begun an inquiry into the possibility of an interim deal in case this is not long enough to settle a full agreement.

Speaking to an EU Lords select committee, the ambassador said: “You may not be able to come to the final conclusion of the permanent agreement because of the time constraint, or because of the difficult need for co-ordination.” He said a transitional deal may “allow business to continue as usual”. He said that ideally the final agreement would not change how UK-based companies accessed the EU single market.

Japan is one of the biggest overseas investors in the UK but is alarmed that post-Brexit it may see the EU impose tariffs, rules-of-origin restrictions and other barriers.

The ambassador said he has been advising Japanese companies to keep calm and not to jump to any conclusions about the need to relocate. But he knew businesses were starting to research different scenarios.

But he added whenever a final agreement on access to the single market is reached it would be desirable to include a transparent schedule to which any changes would be implemented. “You do not enact laws right after you have adopted them. You have a notice period of, say, a year. You do not change a system of trade all of a sudden to be implemented from the next day onwards.”

He also spelt out the consequences of the loss of access to the EU single market for the Japanese auto industry and not just to Nissan, which has already announced it will reinvest in its Sunderland car plant.

Pointing out that a car involves as many as 20,000 parts, he said it was critical that these parts flow freely along a two-way street without tariffs, taking the final product to the EU continental market. He explained: “If there are tariffs on both sides, the company suffers and that is going to be a very costly procedure that is not currently in place. It applies to all manufacturing. If you put some artificial barriers in the way it is by definition going to be costly and inefficient. That is what the Japanese automative companies are concerned about.”

He added the EU was refusing to engage with Japan on Brexit for the time being because they say they have not even received an official notification for the UK and so cannot discuss Brexit with any third party. “An engaged dialogue has yet to start between the EU and Japan,” he said.

He said he had not been given the reasons why Nissan had decided to reinvest in Sunderland and did not know the precise assurances given to the company by the UK government. “Nissan [is] part of Sunderland and in the Japanese culture when you are part of the community, you do not abruptly break up. They are like family. They are aware of their responsibilities to the people of Sunderland.”

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Trump sends iron ore price to 2-year high www.mining.com

The import price of 62% Fe content ore at the port of Tianjin jumped 4.5% to $74.20 per dry metric tonne on Thursday as Donald Trump's victory in the US presidential elections add fuel to the fire of iron ore's almost a month of unbroken gains.

According to data from The Steel Index it's the highest level for the Chinese benchmark price since November 7, 2014 with gains since the eve of the election now topping 11%. Year to date the price of the steelmaking raw material is up 72% after doubling in value from near-decade lows in December last year.

The rally comes on the back of Trump's general support for the extractive industries and his pledge during his acceptance speech for fiscal spending geared towards rebuilding the country's infrastructure.

The Trump administration is likely introduce a spending program of $500 billion when it takes office next year with the president elect promising as much as $1 trillion over ten years to rebuild roads, bridges, airports, hospitals and schools.

Stocks of the world's top producers have all rallied post the Trump triumph with North America's number one iron ore miner Cliffs Natural Resources up a whopping 17% on Wednesday and gaining a further 4.3% in pre-market trading in New York on Thursday.

The world's largest iron ore miner, Brazil's Vale, jump looked set for another jump in value on Thursday to add to its 13.6% gain this week. Anglo-Australian giants BHP Billiton and Rio Tinto made the most of the rally in iron ore, coal and base metals with both stocks adding 12% in value in London since the election. World number four Fortescue Metals Group shares rose 10% in Sydney while South Africa's Kumba Iron Ore soared 15% in Johannesburg.

Metallurgical coal's rise this year has been even more dramatic than that of iron ore and trading at $307.20 a tonne on Tuesday, the steelmaking ingredient is up 22% just over the last month.

According to data provided by the Steel Index premium Australia hard coking coal prices are up more than fourfold since hitting multi-year lows around $70 a tonne in November last year.

The coal rally was also spurred by supply issues after Beijing’s decision to limit coal mines' operating days to 276 or fewer a year from 330 before as it seeks to restructure the industry. Safety closures and weather related supply curbs in China and Australia only added fuel to the fire.

In 2011 floods in key export region in Queensland saw the coking coal price touch an all-time high $335 a tonne. Iron ore's high point was a month later at $191.90 a tonne.

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Trump calls Obama 'a very good man' after historic White House meeting www.cnn.com

Washington (CNN)President Barack Obama welcomed President-elect Donald Trump to the White House Thursday, as both men put past antagonisms aside in a time-honored ritual epitomizing the peaceful transfer of political power.

Three days after mocking Trump as unfit to control the codes needed to launch nuclear weapons, Obama told his successor that he wanted him to succeed and would do everything he could to ensure a smooth transition.
Trump, who spent years pursuing Obama over false claims he is not a natural-born American and accused him of being the founder of ISIS on the campaign trail, called Obama a "very good man" and said he would seek his counsel in future.
The extraordinary meeting was a reflection of the swift and sudden change in the political mood between the frenzied last days of an election campaign and the reality of government and the transition of power between two administrations that follows.
"My No. 1 priority in the next two months is to try to facilitate a transition that ensures our President-elect is successful," Obama said.

Obama told Trump: "If you succeed, the country succeeds," as the two men sat in high-backed chairs in front of the fireplace in the Oval Office.
Trump thanked Obama for the meeting which he said had originally been scheduled for 10 minutes and went on for 90.
"Mr. President, it was a great honor being with you and I look forward to being with you many, many more times," Trump said, adding that he and Obama had spoken about some wonderful and difficult things and "some high-flying assets."
It was not immediately clear what he meant.
The President-elect also said he would seek "counsel" from Obama.
As the pool of reporters were led out, Trump told them several times that Obama was "a very good man."
It comes with many Americans, especially Democrats and liberals, still in disbelief and shock at Trump's victory over Hillary Clinton on Tuesday, after the most vicious and unconventional campaign in modern history.
The meeting, and Trump's stern demeanor, also underscored how the heavy burden of the presidency begins to settle on the shoulders of a President-elect. In Trump's case, that process will be especially challenging giving that he will be the first president elected with not political, diplomatic or military executive experience.
Republican National Committee chairman Reince Preibus, who is being mentioned as a possible chief of staff in Trump's White House, told CNN's Jake Tapper that Americans would appreciate Trump's demeanor in Washington.
"I hope that everyone has seen sort of this presidential Donald Trump that we knew all along was up to the task and I think is going to make us all proud," Preibus said.
Thursday evening, Trump tweeted about the meeting, writing, "A fantastic day in D.C. Met with President Obama for first time. Really good meeting, great chemistry. Melania liked Mrs. O a lot!"

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Global markets in green despite widely-predicted collapse after Trump win www.rt.com

 
While many analysts forecast inevitable market collapse if Donald Trump won the US presidential election, share prices are rising from America to Asia. Some say the immediate selloff after the election results was a snap decision.
 
All the key US indices - the Dow Jones Industrial Average, the Nasdaq Composite and the S&P 500 - closed over one percent up in the very first session after the election. Many analysts had predicted turmoil should Hillary Clinton lose the election, as Trump was supposed to bring uncertainty to the markets.
 
Yields on US Treasury 10-year notes jumped to 2.09 percent overnight, the highest since January and the largest daily increase since 2011.
 
The Japanese Nikkei index finished trading with a nearly seven percent surge after sinking 5 percent on Wednesday.
 
China’s Shanghai Composite closed 1.37 percent up, while Hong Kong closed two percent up. Australian stocks soared 3.3 percent in the largest daily rise in five years.
 
Germany’s DAX and Britain’s FTSE 100 were up more than a half percent. The pan-European STOXX 600 was up 1.3 percent, at its highest level in more than two weeks.
 
In Russia, the dollar-traded RTS Index was up 1.8 percent, and the ruble-denominated MICEX was trading one percent in the green.
 
"Investors are puzzled with their emotional investment decisions. They were risk averse yesterday, then after seeing Americans were optimistic and chasing the market higher, they wasted no time reversing their positions," said Takuya Takahashi, a strategist at Daiwa Securities in Tokyo, quoted by Reuters.
 
"Some of the investors must be thinking that they shouldn't have sold after all," the analyst added.
 
"An astonishing turnaround in risk appetite pushed equities and Treasury yields higher. Markets appeared to reassess the economic outlook under Trump, toward one of higher growth and higher inflation,” said Imre Speizer, an economist at Westpac.
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Indians google money laundering after Modi declares war on cash www.rt.com

 
The search query “how to convert black money into white money?” is trending on Indian Google after Prime Minister Narendra Modi withdrew 500 and 1,000 (about $15) rupee notes, turning 86 percent of cash in the country to paper.
According to Bloomberg, the most searches came from Modi’s home state of Gujarat, known for its small traders, jewelers and other small businesses.
 
The government decided to get rid of the notes because of tax evasion and corruption in India. The term ‘black money’ is used to describe cash stashed to avoid paying taxes.
 
The media quoted the 2016 Internet Trends report by Kleiner Perkins Caufield & Byers saying India has 277 million internet users, the second-biggest after China.
 
On Thursday, long lines appeared outside Indian banks, as they reopened for the first time since the government withdrew the two largest denomination notes from circulation.
 
Some banks in New Delhi had received the new 2,000 rupee ($30) bills and a number of ATMs resumed working, according to the AFP.
 
The banks called in thousands of police to manage huge lines outside branches, Reuters reports.
 
“This one decision will change social culture, in the way people keep money and spend,” said Finance Minister Arun Jaitley.
 
The finance minister said the move “expands the GDP and makes it cleaner; it pushes revenues, pushes the economy, pushes more money into the banking systems.”
 
According to Jaitley, the country has 125,000 bank branches and an extensive network of post offices in rural areas, which is enough to exchange the now useless cash.
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Google hits back at EU claim over Android abuses www.bbc.com

 
Google has rejected EU allegations that it abused its market dominance of its Android mobile phone operating system.
"Android hasn't hurt competition, it's expanded it," said Kent Walker, general counsel of Google.
The US tech firm sent its reply on Thursday to anti-trust charges issued by the EU earlier this year over the smartphone platform.
The European Commission told the BBC it would carefully consider Google's response before making a decision.
Mr Walker said in a blog: "The response we filed today shows how the Android ecosystem carefully balances the interests of users, developers, hardware makers and mobile operators."
He said that more than 24,000 devices from over 1,300 brands ran on Android, enabling European developers to distribute their apps to over a billion people.
Google apps
The European Commission sent a statement of objections to Google in April, alleging it had breached EU competition law.
Google faces a fine and could be required to change its practices if the EU rules against it.
The firm is accused of placing onerous requirements on companies using Android and giving unfair prominence to its own apps, especially its search engine, in deals with phone makers.
"No manufacturer is obliged to preload any Google apps on an Android phone," Google insisted.
It comes days after Google rejected the EU's objections in a separate case about how it displays shopping links in its search results.
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Mitsui O.S.K. to ship shale gas byproduct to India www.asia.nikkei.com

TOKYO -- Mitsui O.S.K. Lines will transport ethane, a byproduct of shale gas production, to India starting this month under a long-term contract it has signed with Reliance Industries, the largest petrochemical company in the South Asian country.
 
With its mainstay containership business bleeding red ink, the Japanese shipping company aims to cultivate a new source of earnings.
 
Under the contract, Mitsui O.S.K. will ship ethane derived from shale gas produced near the Gulf of Mexico to India for about 15 years. It will operate six Reliance-built vessels. The first of these -- completed on Wednesday -- can carry approximately 87,000 cu. meters of ethane, double the capacity of earlier models. The other five vessels will begin operating by 2017. Mitsui O.S.K. expects annual sales of 20 billion yen ($189 million).
 
Reliance will use the ethane to make ethylene, which will be employed in production of packaging film and synthetic rubber.
 
Mitsui O.S.K.'s containership business, which accounts for 40% of group sales, is losing money amid falling freight rates. Mitsui O.S.K., Nippon Yusen and Kawasaki Kisen Kaisha have decided to merge their containership operations.
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Modi seeks deeper nuclear ties with Japan www.asia.nikkei.com

NEW DELHI -- As a bilateral summit with Japan approaches, Indian Prime Minister Narendra Modi is hopeful that the two nations will deepen economic ties in nuclear energy and other key areas.
 
"Our relations with Japan are very easy to take forward," Modi told reporters Wednesday, a day before he visits Japan. The two sides are expected to ink the final deal on a civil nuclear agreement on Friday.
 
India signed similar accords with the U.S. and France back in 2008. The South Asian country seeks to lift its atomic power output capacity by a magnitude of 10 by 2032. If Tokyo and New Delhi formalize their nuclear agreement, India can accelerate its facility construction with equipment supplied by Toshiba, which owns Westinghouse Electric of the U.S., and other Japanese companies.
 
Modi believes the agreement with Japan will go a long way toward cutting greenhouse gas emissions. "India has taken a huge initiative as far as renewable energy is concerned to fight global warming and climate change," he said.
 
Japan and India are also cooperating on building a high-speed rail line connecting Mumbai and Ahmedabad, with the technology based on the Japanese shinkansen bullet train. Construction has initially been slated to take place between 2017 and 2023, but critics claim the groundbreaking will likely be delayed. The project is proceeding mostly according to the agreed-upon schedule, Modi said.
 
Modi declined to say whether the six other high-speed corridors in the works will adopt shinkansen technology, but he said that the Mumbai-Ahmedabad line may spur the proliferation of bullet trains across India. He added that the relationship with Japan could also help India "export [high-speed rail] technology and products to other parts of the world."
 
The Japanese side maintains that offshore manufacturing of trains and other equipment in India would be prohibitive if the shinkansen design is not utilized on the other six lines. That Modi mentioned the word "export" suggests the possibility that India may acquiesce to Japan's wishes.
 
On the military front, the two sides "have established bilateral mechanisms to discuss defense equipment and technology cooperation," Modi said. He did not touch on whether India will purchase the US-2 amphibious aircraft developed by Japan's ShinMaywa Industries. But he did mention how Japan "has high technology in several areas."
 
"I am hopeful that our cooperation in [the] defense field will continue to mature," he said.
 
Modi remains emphatic that India and Japan can serve both sides' needs on multiple fronts: "You have the technology, we have opportunities for using that technology," the prime minister said. "You have the finance, we have the opportunities for using that to develop our infrastructure. India has a very huge market."
 
 
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Peru may attract more foreign investment through APEC 2016: expert www.xinhuanet.com

LIMA, Nov. 9 (Xinhua) -- Peru could attract as much as 50 billion U.S. dollars in investment as the host of the upcoming 2016 Asia-Pacific Economic Cooperation (APEC) leader's meeting next week, a leading researcher said.
 
Fernando D'Alessio, director of the Centrum research center at the Pontifical Catholic University in Lima, said the Peruvian government has to use this event to attract more investment.
 
Speaking at the launch of a new book, "Peru: Leaders' Vision APEC 2016," D'Alessio said he believed in the ability of President Pedro Pablo Kuczynski and his cabinet to secure economic development.
 
The new book, which will be offered as a present to important attendees to the meeting, seeks to showcase Peru's socio-economic situations and its potential business opportunities. It was co-developed by the Ministry of Foreign Affairs and the APEC Business Advisory Council (ABAC).
 
"Our intention is to put the eyes of the world, especially the leaders of the 21 APEC member economies, onto the options in our country, putting an emphasis on the most highlighted productive sectors, which drive our economic growth," he said.
 
According to D'Alessio, the Peruvian market is becoming ever more attractive to foreign investors, especially in trade, mining, energy and tourism.
 
The 21 members of APEC account for 39 percent of the global population, 57 percent of global GDP and 49 percent of global trade.
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