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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Lloyds Banking Group to close 49 branches and cut 665 jobs www.theguardian.com

Lloyds Banking Group is cutting 665 jobs and closing 49 branches as it continues to cut costs in an attempt to complete its return to the private sector.
 
To cushion the blow of further branch closures, the bank – bailed out in 2008 – is launching a fleet of mobile vans intended to visit communities knocked by the disappearance of high street outlets.
 
But unions said the ongoing cuts to the 75,000-strong workforce risked having an impact on customers. The reductions are part of a three-year cost-cutting programme being implemented by the chief executive, António Horta-Osório, to cut 12,000 jobs and close 400 branches by the end of 2017.
 
So far, 9,435 job cuts have been announced and 261 branches earmarked for closure. About 45,000 roles had already gone when Lloyds rescued HBOS during the 2008 crisis.
 
Rob MacGregor, Unite union’s national officer, said: “It is alarming that Lloyds are continuing this programme of job cuts and branch closures. Unite have expressed to the bank that these ongoing cuts hurts our members and inevitably impacts customers.”
 
Lloyds, which also operates the Halifax and Bank of Scotland brands, has argued that branch closures are necessary as their use has fallen 15% year on year.
 
The key high street players – Lloyds, Barclays, HSBC, Royal Bank of Scotland and Santander – have closed 1,7000 branches in the past five years and more are expected. As a result, 1,500 communities have been left without a bank on their high street.
 
Lloyds said it would put eight mobile branches on the road between March and April next year. Its Bank of Scotland brand already has eight mobile branches in Scotland.
 
Other banks also have mobile branches, including Royal Bank of Scotland which said it had been operating in remote parts of Scotland for 70 years through its fleet which employs 80 people. As well as 22 RBS branches on the move, its NatWest arm in England and Wales has 15 mobile branches.
 
Lloyds said the decision to make cuts was difficult but they were needed because of “changing customer needs”. Compulsory redundancies would be a last resort. It said the number of jobs lost would be 520 as it was creating 145 new positions.
 
Branches were still important, the bank said. “As part of this, we have also announced today the introduction of a new mobile branch service for Lloyds bank to help ensure there is a continuity of branch banking services available in some of those areas affected by branch closures alongside other ways to access banking locally.”
 
Philip Hammond, the chancellor, has continued to sell off the government’s holding in Lloyds even though its shares have fallen below the 73.6p average price at which taxpayers bought a 43% stake during the 2008 crisis. Last month the taxpayer shareholding fell below 9%. Hammond is expected to get rid of the remaining holding in the next 12 months.
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Oil prices recover after panicked speculators shorted on Trump win www.rt.com

Crude prices stopped falling after Wednesday morning’s sell-off, triggered by Donald Trump winning the US presidential election.
 
North Sea benchmark Brent was trading flat at $46.03 per barrel at noon GMT. US benchmark West Texas Intermediate slid 0.14 percent trading at $44.84 per barrel.
 
“This is deja vu of the Brexit moment, very worrying,” said Bob Takai, president at Sumitomo Corp Global Research in Tokyo, referring to the market bloodbath that took place on the day when the United Kingdom voted to leave the European Union on June 23.
 
“Speculators are in a panic mode… Fears that Donald Trump was going to win the election saw risk-sensitive assets drop faster than Hillary Clinton’s hopes of becoming the next US president overnight,” said Fawad Razaqzada, market analyst at Forex.com, quoted by Reuters.
 
“Trump’s victory is seen as a ‘shock,’ prompting (investors) to seek safe-haven assets and this has pushed oil prices down,” said Son Jae-hyun, Seoul-based analyst at Mirae Asset Daewoo. He added that Trump’s policy on energy and anti-Iran views could push prices in future.
 
Also on Wednesday, the American Petroleum Institute (API) showed US crude reserves growing by 4.4 million barrels, also dragging down oil prices.
 
Official storage data by the government’s US Energy Information Administration (EIA) is expected late on Wednesday.
 
Russian Deputy Energy Minister Kirill Molodtsov said the country may increase oil production to 555-560 million tonnes by 2020 to retain its market share of 12 percent.
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The view from shell-shocked Silicon Valley www.bbc.com

If you can’t beat ‘em, leave ‘em.
Remarkably, that seemed to be the knee-jerk reaction of at least some of Silicon Valley’s elite in the wake of Donald Trump becoming president-elect on Tuesday.
"I am announcing and funding a legitimate campaign for California to become its own nation,” wrote Shervin Pishevar, a major investor in companies like Uber, AirBnB and Slack.
"I'm in and will partner with you on it,” replied Dave Morin, another major tech investor.
It’s been agreed, the new promised land should be called New California.
"It's the most patriotic thing we can do,” Mr Pishevar said.
The proposal - one that, let’s face it, is faintly ridiculous - represents peak panic in the wake of an election that has left much of Silicon Valley stunned and grasping for answers.
‘Open door'
There are two bubbles in this part of the world - one is about money, the other is about its world view.
On her disastrous night, Clinton got more votes in California than in any other part of the country. Here, the prospect of a Trump presidency wasn’t just unlikely, it was unthinkable.
Before the vote, openly supporting Mr Trump was seen by many as a crime worthy of losing your job.
When it emerged that Facebook board member and major investor Peter Thiel was donating more than $1m to the Trump campaign, many called for him to be sacked.
But just a few weeks on, Mr Thiel, a person who has made his vast fortune over long-term bets, proved to be the most astute man in the Valley once again.
“He has an awesomely difficult task, since it is long past time for us to face up to our country’s problems,” he said in a statement after Mr Trump’s win.
"We’re going to need all hands on deck.”
Coming to terms
Mr Thiel remains an outlier here. What we’ll likely see over the next few days is an industry and community slowly contemplating what life in Silicon Valley will mean under President Trump.
Chris Sacca, an early investor in Twitter, said technology companies should be open to the new leader.
"We in the tech community are willing to work with President-Elect Trump to help those Americans who need it most,” he tweeted.
"The door is open.
"Very few people were as vocal in their opposition to Donald Trump as I was. But sitting on our hands for four years is a bad option."
As I type, we’re yet to hear from the real key players: Apple, Facebook and Google.
Their message will be instrumental in setting the collective mood here.
Meanwhile, Twitter boss Jack Dorsey may be enjoying one silver lining: shares in the struggling network, still by far the best platform on a day like Tuesday, jumped 4% to its best pricing since October.
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Coal mines, utilities ink long-term price deal www.chinadaily.com.cn

Move to help prevent violent fluctuations in market and maintain orderly trading
 
China's major coal producers and power groups have signed a long-term deal at a fixed price to ensure stable coal and power supplies in the country, in a bid to hammer out a strategy to halt the persistent rise in coal prices, said the nation's top economic regulator on Wednesday.
 
Two of the nation's top coal mines, Shenhua Energy Co and ChinaCoal Energy Co, have signed long-term supply contracts with utilities at 535 yuan ($79) per metric ton, 25 percent below the current spot market rates, as the government ramps up its efforts to cool the red-hot market.
 
The long-term deal will start on Dec 1, and will help prevent violent fluctuations in coal prices and maintain an orderly market, Xu Kunlin, deputy secretary-general of the National Development and Reform Commission, said at a briefing on Wednesday.
 
Zuo Qianming, an expert with China National Coal Association, said the price rise has to do with China's effort to cut overcapacity and regulate its coal sector.
 
"Despite the fact that thermal coal prices have hit a record in recent weeks after the government tried to tighten supplies for utilities, causing much concern in industry and among the public, it is still demand driven," said Zuo.
 
"However, as coal consumption declines year by year, the country should still stick to reducing overcapacity despite the recent drastic price rise."
 
The country's intensified effort to cut overcapacity had led to huge rises this year in the bulk commodity price, including thermal coal.
 
Despite government efforts since September to boost supply, the surge has yet to be eased and has drawn the scrutiny of the authorities.
 
According to Xu, there were no grounds for recent coal price increases in the country to be sustained, and prices might even drop after sporadic factors fade away and a periodic coal supply glut and price decline is likely to follow.
 
"Once the sporadic factors fade away, a periodic coal supply glut and a price decline will be high-probability events," he said.
 
"The recent coal price surge in China was irrational and unsustainable, and the prices would retreat as supplies increased with no basis for further rises in coal prices."
 
Xu added that the supply-demand situation in China's coal sector has not changed and has reached a balance due to controls on output.
 
"The country should firmly stick to the overcapacity reduction program despite the price hikes," he said.
 
"In the long term, with coal consumption capacity gradually declining, the coal market will hardly see any rapid increase, and with the new energy gradually replacing traditional energy such as coal, there will be barely any substantial growth capacity for the coal sector."
 
Zuo said the deal would also help avoid a big hike in residential power costs.
 
This is the first time that the NDRC has held a media briefing to discuss this year's historical coal price rally and concerns about tight supplies of the raw material used by utilities.
 
The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports, rose to 607 yuan per ton earlier, the 18th consecutive rise and about 63.6 percent up on the start of the year.
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S&P affirms U.S. investment-grade ratings after presidential election www.reuters.com

Ratings agency Standard & Poor's affirmed the United States' investment-grade 'AA+/A-1+' rating on Wednesday, a day after the presidential election, while maintaining its stable outlook.
 
Donald Trump won the U.S. presidential election in a stunning upset, and will take office in January, with the Republicans maintaining majority control of the House of Representatives and the Senate.
 
"We assume the longstanding institutional strengths and robust checks and balances of the U.S. will support policy execution in a Trump administration, despite the president-elect's lack of experience in public office, which raises uncertainty on policy proposals,” the ratings agency said.
 
But S&P added that the United States' high general government debt and increased uncertainty over its trajectory constrain the ratings of the world's largest economy.
 
There is a risk of policy uncertainty and potential missteps given the untested nature of the incoming Trump administration. If these risks eventuate, there could be downward pressure on the rating, S&P said.
 
S&P said it would raise the rating if it saw evidence that efforts point to more proactive fiscal and public policies that result in a lower debt burden.
 
Fitch Ratings said on Wednesday that Trump's victory does not have near-term implications for the United States' AAA/stable rating.
 
The medium-term impact of president-elect Trump's economic and fiscal policies would be negative for U.S. sovereign creditworthiness if they were implemented in full, the ratings agency said. bit.ly/2fmgQ97
 
Moody's Investors Service said that Trump's victory will impact a range of companies operating in several different sectors.
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Firm chairman sentenced to death for Tianjin fire www3.nhk.or.jp

A Chinese court has given the head of a logistic company a suspended death sentence in connection with a massive explosion in the port city of Tianjin last year.

173 people died or went missing in the blast and fire at a chemical warehouse in August of last year. The explosion destroyed factories and nearby condominiums.

China's state-run Xinhua news agency reported that a Tianjin court on Wednesday gave the company's chairman Yu Xuewei the sentence for illegal storage of dangerous substances at the warehouse and other charges. A suspended death sentence is usually commuted to life in prison after 2 years.

The court gave 23 other company officials jail sentences ranging up to life imprisonment. It also jailed 25 local government officials for bribe-taking and other charges.

China watchers say the harsh sentences appear to be aimed at showing tight discipline for ranking officials, as serious accidents have repeatedly occurred in China.

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Visa fees will be paid in Mongolian Tugrik only www.gogo.mn

Prime Minister J.Erdenebat obliged affiliated ministries on several issues at the beginning of the cabinet meeting. 
Particularly, Prime Minister gave a concrete task to authorities of Oyu Tolgoi, Erdenes-Tavantolgoi, Energy Resource and local Tavantolgoi company when he was working in Umnugobi aimag during the weekend. In regards, he obliged affiliated ministries to establish a working group in charge of developing proposal on measures to be taken on Gashuunsuhait port, ensuring the implementation and monitoring. 
Moreover, he assigned Deputy Minister of Mongolia to provide winter preparation while he assigned Minister of Finance to study the possibility to freeze the increase in exchange rate and to develop affiliated draft law if needed. 
In addition, he engaged all foreign embassies, operating in Mongolia to receive their visa fees in national currency of Mongolia, the Tugrik (MNT).

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#InspireMe Festival Ulaanbaatar Shangri-La Mall www.mongolianbusinessdatabase.com

Her Majesty’s Ambassador, Catherine Arnold, invites you to attend the “Business Zone Seminars” for entrepreneurs and start ups.

15:30-15:50 Business idea modelling - G. Oyungerel, training manager, Youth Business Mongolia
15:50-16:10 How to start your own business? Funding options - E.Bat-Orshikh, Executive Director, Development Solutions
16:10-16:30 Working with foreign partners - J.Nomin, Director, Mongolia Talent Network
16:30-16:50 Building international supply chain - Nancy Johnston, Founder of Tengri
16:50-17:10 Entrepreneurship: Ch. Gankhuyag, CEO of Ard Financial Group
17:40-18:40 Startup Grind Mongolia: Nomin Ch., CEO, Mongol HD

Date: 11 November

Time: 15:30 – 18:40

Location: Shangri-la Mall/ Business zone (F1, Art Space Gallery)

SEATING IS LIMITED AND AVAILABLE ON A FIRST COME FIRST SERVE BASIS.

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US stock markets neutral on Trump win www.rt.com

The main US indexes did not plunge significantly during the first minutes of trading in New York. Futures had pointed to a sharply lower open for Wall Street on Wednesday after Donald Trump won the US presidential election.
 
The Dow Jones Industrial Average was trading flat at 18,341 points. The Nasdaq Composite dropped 17 points, or less than a half percent. The S&P 500 index was 0.14 percent down.
Germany’s DAX and France’s CAC 40 index were losing less than half a percent, while UK’s FTSE 100 was up 0.2 percent.
 
Shares in steel producers, defense firms and pharmaceuticals firms are rallying, as speculators expect a rise in infrastructure projects, military spending, and a more favorable environment for drug producers during Trump’s administration.
 
Pfizer was up nearly 10 percent, while its rival Merck gained six percent. Machine maker Caterpillar went up eight percent.
 
Shares in biotech companies are skyrocketing with the Nasdaq biotech index showing its biggest intraday gain in eight years.
 
Gold, platinum, palladium and other precious metals were all in the green, rising one to two percent.
 
The crude oil benchmarks have fallen less than half a percent, with Brent trading at $45.88 and WTI at $44.8 a barrel.
 
Healthcare firms are the worst performers on the S&P 500 with insurance group Centene Corporation down 16 percent. Private healthcare providers are also falling eight to 14 percent.
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German consortium to invest almost €3bn in Russian high-speed railway www.rt.com

A consortium of major German companies is ready to provide €2.7 billion to construct the Moscow-Kazan high-speed railroad, according to the Vice President of Russian Railways Alexander Misharin. Initially the sum proposed was €2 billion.
 
"Now we speak about investment of about €2.7 billion," Misharin told TASS, adding the terms of the financing will be fixed in an intergovernmental agreement.
 
Germany’s Siemens is part of the consortium and has said it is ready to manufacture rolling stock for the route. The company wants to provide an enhanced version of its high-speed Sapsan train for the new line. Siemens’ Sapsan trains currently operate on the Moscow to St. Petersburg line.
 
The route from Moscow to Kazan is planned as part of a network of high-speed lines to be built by 2018 when Russia hosts the FIFA World Cup. Kazan will be one of the Russian cities hosting the tournament.
 
The ambitious project has already attracted interest from China which plans to put in up to $6 billion.
 
Last year, the China Railway Group won a $390 million contract to develop the Moscow-Kazan railway which may be extended to the Chinese capital. The route is expected to become part of the grand Silk Road project, a Chinese economic corridor with Russia and Mongolia. Beijing sees the high-speed rail project as a way to boost communication and trade with Russia and Europe.
 
The cost of the 770 kilometer Moscow-Kazan link is estimated at $21.4 billion. It will stretch through seven regions of Russia, reducing the current 12-hour journey time from Moscow to the capital of the Republic of Tatarstan to just three and half hours.
 
The trains will be able to reach speeds of 400 kilometers per hour. The average annual passenger traffic is estimated at about 200 million people.
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