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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Nikkei falls as Bank of Japan meets www.bbc.com

Shares in Japan have fallen with investors remaining cautious as the country's central bank meets to discuss monetary policy.
The Bank of Japan's news conference on Friday will be watched closely any news of further stimulus measures.
The benchmark Nikkei 225 index closed down 1.13% at 16,476.84.
Shares in export-related companies fell as the yen strengthened against the dollar. A stronger yen makes Japanese goods more expensive overseas.
Overnight, the US central bank decided to keep rates on hold, at between 0.25% and 0.5%. The Federal Reserve said "near-term risks to the economic outlook have diminished", however the dollar weakened after the bank gave now clear indication it was thinking of raising rates at its next meeting in September.
In Australia, the benchmark ASX 200 share index closed up 0.31% at 5,556.60.
Shares of Macquarie Group closed up 1.5% after the country's top investment bank confirmed it would meet its full-year earnings guidance.
China's benchmark Shanghai Composite index ended flat at 2,994.32 at the open. Investors have turned cautious following reports in local media that Chinese regulators are planning a clampdown on wealth management products, to curb risks to China's banking system.
In Hong Kong, the Hang Seng index finished the day 44.65 points lower at 22,174.34.
In South Korea, the Kospi closed down 0.2% at 2,021.10.
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Mitsubishi Motors posts net loss of $1.2 billion www3.nhk.or.jp

Scandal-hit Mitsubishi Motors has posted a net loss of about 1.2 billion dollars for the April to June period.
 
The maker's earnings report released on Wednesday shows sales fell 14 percent to about 4 billion dollars from the same period last year.
 
The production and sales of mini-vehicles, which accounted for 60 percent of the firm's sales, were suspended for 2-and-a-half months after the fuel efficiency data scandal came to light in April.
 
The maker earmarked nearly 1.2 billion dollars in special losses. They include compensation for parts suppliers and Nissan Motor. Mitsubishi had supplied 2 types of mini models to Nissan.
 
Mitsubishi officials say new car sales fell 43 percent year-on-year in Japan as the scandal damaged its brand image.
 
Executive Vice President Koji Ikeya told reporters that orders for mini-vehicles are recovering, but it's not easy to win back consumer trust. He says tough times are likely to continue.
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Mongolia’s 5 western provinces to export meat to China’s Ningxia www.mongolia.gogo.mn

Leaders of the Mongolian National Chamber of Commerce and Industry met today (July 27) with the chairman of the Chamber of Commerce of the Ningxia Autonomous Region of People’s Republic of China, Mr He Zhengrong, and representatives of meat factories and companies of China.
The sides considered issues on establishing trade representatives and commercial points and providing discounts for imports and exports. The Chinese Ningxia agreed to cooperate with Mongolia’s 5 western provinces on meat trade, confirming with Memorandums of Understanding thereon established with Khuvsgul and Bayankhongor provinces.
In accordance with the MoUs, Chinese region and Mongolian provinces pledged to support the “Silk Road Economic Belt” Initiative of China and to coordinate it with the “Steppe Road” initiative of Mongolia. Ningxia is to make investments and cooperate with Khuvsgul and Bayankhongor in the mining, land farming, animal farming and reproduction, refrigerated transport and tourism. The two sides have opened opportunities to exchange high-level visits and business events, and for Mongolia to join the China-Arab trade fair, which takes place in Ningxia.
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Samsung profits boosted by smartphone sales www.bbc.com

Strong smartphone sales have helped Samsung Electronics post its best quarterly results in more than two years.

Second-quarter operating profit jumped 18% to 8.1tn Korean won ($7.17bn; £5.46bn), in line with the company's guidance issued in July.

Operating profit at its mobile division soared 27% year-on-year to 4.3tn won.

That is mainly driven by strong sales of its Galaxy S7 and Galaxy S7 Edge smartphone models.

Samsung predicts continued increase in demand for its smartphones and tablets in the second half of the year.

But the company also indicated that "market competition is expected to strengthen as other companies release new mobile devices".

Samsung is confident that the release of a new large-screen flagship smartphone in the third quarter will help maintain the track record of its smartphone sales.

Samsung's results are in contrast to rival Apple. Earlier this week, the US company reported a 15% drop in iPhone sales for the April-to-June quarter. And it also said it expected sales to fall again in the current quarter.

As for other divisions in the Samsung conglomerate, the company is forecasting a decline in TV demand for the second half of the year, citing "weakened demand in Europe and a prolonged economic slowdown in emerging markets".

The South Korean corporate giant also reported earnings growth in its consumer electronics division, which sells refrigerators, washing machines and air conditioning units.

 
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Fed keeps key interest rate unchanged www.nhk.or.jp

Policymakers at the US Federal Reserve have kept the key interest rate unchanged. But their positive view for the country's economy is raising speculation that a rate hike may be on the way.

The Fed announced the decision after a two-day meeting of the Federal Open Market Committee that ended on Wednesday.

A statement released after the meeting says the US labor market strengthened and economic activity has been expanding at a moderate pace.

It also says the committee continues to monitor global economic and financial developments.

The Fed has decided against an interest rate increase for five policy meetings in a row.
But the Fed said near-term risks to the economic outlook have diminished.

The US economy is believed to have grown more than two percent in the April-June quarter.

Some analysts expect that the Fed may raise the rate as early as in its next policy meeting in September.

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Kiev refuses to pay Russian debt because it was 'forced to take the money' www.rt.com

Ukraine’s Finance Minister Oleksandr Danilyuk says he sees no reason why the country should repay the $3 billion debt to Russia.“It was a political credit which we were forced to take... Our position is that we shouldn’t return the money,” he told Ukrainian channel Espreso.TV
 
The minister confirmed the hearings at the High Court in London over the lawsuit brought by Russia concerning Kiev’s unpaid debt could take up to two years.
 
Ukrainian President Petro Poroshenko in May approved a bill extending the moratorium on paying off the country’s external debt, including the $3 billion Eurobond owed to Russia. The law allows Kiev more time to legally find ways to restructure its external debt.
 
Kiev’s debt to Moscow is the result of a deal sealed in 2013 between President Vladimir Putin and former Ukrainian President Viktor Yanukovich. Moscow agreed to give Kiev a $15 billion loan through the purchase of Ukrainian Eurobonds. The first tranche of $3 billion was purchased by Russia and was to be repaid by December 20, 2015.After Ukraine failed to repay the debt on schedule Moscow filed a lawsuit demanding the repayment.Moscow had already suggested a debt-relief plan under which Ukraine could repay its arrears in three installments of $1 billion over the next three years. Russia wanted guarantees from the US, the EU or the International Monetary Fund on future payments of the Ukrainian sovereign debt. The deal, however, fell through, as Ukraine’s Western backers were unwilling to provide the guarantees.
 
Moscow says its bond purchase was a state loan, not a commercial one but Kiev argues that it was part of external commercial debt and could be restructured.
 
The International Monetary Fund recognizes Kiev’s debt to Russia as official and sovereign, with Ukraine, as the borrower state, responsible for the loan repayment.
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Facebook earnings beat expectations www.bbc.com

Facebook has posted another exceptional quarter of growth, with profit up 186% from this time last year.
Facebook earned $2bn (£1.5bn) in the period from April to June, up from $719m in 2015.
Analysts had anticipated revenue of $5.8bn, but the company managed to beat even those high expectations bringing in $6.4bn in revenue.
Chief executive Mark Zuckerberg said the company was particularly pleased with the growth in video.
"Our community and business had another good quarter," he said, "We're particularly pleased with our progress in video as we move towards the world where video is at the heart of all our services."
Shares of the social media giant climbed nearly 7% in after-hours trading.
Video advertising
Facebook has been encouraging businesses to experiment with video and rolling out new advertising platforms for mobile ads.
Mobile advertising made up 84% of Facebook's ad revenue in the second quarter up from 76% last year. The company has benefited from an influx of advertising money moving away from television and on to digital platforms.
"Facebook still has many growth levers left to pull, not least of which is video advertising," an analyst from RBC Capital Markets wrote in a client note.
The number of monthly-active-users (MAU) - a key measurement for advertisers - increased by 15% to 1.71 billion as of 30 June 2016.
By comparison, Twitter's MAU increased by just 3% in that period.The number of daily active users topped one billion for the first time. The time spent on the site by daily users also rose.
"Facebook remains a top pick for us, given its position as the largest/most engaging mass-reach internet platform for advertisers, unmatched targeting potential, and very potent monetisation formats," Cantor Fitzgerald analysts said in a research note.
"Mobile has been the main driver of growth to date, video and Instagram should start moving the needle more meaningfully in the second half of 2016."
Facebook has been pushing new services, including photo and video-sharing on Instagram and its messaging apps.
The company has also encouraged advertisers to try new means of reaching their targets, including the new Facebook Live feature, where users can watch live streaming videos.
Revenue increased in all geographic areas, climbing 19% in Asia and 21% in Europe.
Even as Facebook celebrates its success, analysts say the company needs to keep an eye on rival Snapchat, which has a fast-growing user base.
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Porsche hiring for electric car project www.bbc.com

The German luxury carmaker Porsche says it is creating 1,400 jobs to develop its electric car - the Mission E.
The sports carmaker, owned by VW, is pushing to get its battery-powered model on to the market in 2019 and is spending about €1bn (£836m; $1.1bn) to get it on the road.
It wants to compete with the pioneering California-based Tesla for a share of the market.
Porsche admitted that finding staff for the project is tough.
"I'm not denying the battle for talent is tough," said Andreas Haffner, human resources boss at Porsche.
"One can in fact describe what is going on now as a 'war for talents'. We are in direct competition with other automakers and suppliers and IT firms in our global search for talented experts. Money alone is not enough to attract these creative minds."
Battling to overcome its diesel emission scandal, parent company VW has said it plans to launch 30 all-electric models to reposition itself as a leader in "green" transport.
The new jobs will be based at Porsche's plant in Zuffenhausen. Overall the company currently has more than 24,000 employees.
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Powerball jackpot grows to $422 million, eighth largest ever www.reuters.com

The U.S. Powerball jackpot grew to $422 million ahead of an 11 p.m. EDT drawing on Wednesday, making it the eighth largest in the game's history and the 11th-biggest lottery prize ever in the United States.
 
The jackpot amount has now rolled over 22 times since it was reset to its starting sum of $40 million for a drawing back on May 11, lottery officials said.
 
The Powerball game, based on lottery tickets sold for $2 apiece, is played in 44 states as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
 
A winning ticket consisting of all six numbers drawn on Wednesday night will be worth an estimated payout of $422 million if spread over 30 years, or the winner may opt for a lump-sum payment of 291.8 million before federal taxes.
 
The Wednesday draw comes about 2-1/2 months after a $429.6 million winning Powerball ticket was sold in New Jersey and two weeks after a $540 million Mega Millions lottery jackpot was clinched in Indiana.
 
Those two prizes ranked as the ninth- and seventh-largest in U.S. lottery history, respectively.
 
The largest all-time biggest lottery prize offered in North America was a Powerball jackpot worth nearly $1.6 billion for winning tickets sold in California, Tennessee and Florida in January of this year.
 
A couple who bought the winning California ticket in that draw came forward just last week to claim their $528 million share of the prize.
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Iron ore price jumps on China anti-dumping move www.mining.com

The import price of 62% Fe content ore at the port of Tianjin jumped 3% to $57.40 per dry metric tonne on Tuesday according to data supplied by The Steel Index after Chinese iron ore miners asked for an investigation into Brazilian and Australian producers flooding the market.
 
Reuters reports that more than 20 miners in a statement published on the Metallurgical Miners' Association of China website asked for an investigation into top producers of the steelmaking raw material including Brazil's Vale and Australia's Rio Tinto and BHP Billiton.
 
Australia is forecast to increase its global market share from 54% in 2015 to 58% in 2017, while Brazil’s share is forecast to increase from 26% in 2015 to 28% in 2017 according to Australian government figures. At the current rate could top the 1 billion tonnes per year mark in 2016 for the first time.
 
Hundreds of domestic Chinese miners struggling with low grade and high costs have been forced to halt operations according to the association:
 
"The capacity of major iron ore miners has continued to grow and requires a massive Chinese market to absorb their great excess," the statement posted on Tuesday said.
 
"Vale, Rio Tinto and BHP Billiton which have dominated global iron ore trade have defied the market and are still expanding despite prices being low since their strategy is to use low-priced dumping to crowd out higher-cost miners," the association said.
 
After more than halving since 2011 to less than 200m tonnes, Chinese iron ore output on a 62% Fe basis is forecast to fall by a another 12% in 2016 and by a further 20% in 2017.
 
The statement also mentions China's "security of steel production" and the move is also seen as retaliation against the US imposing huge anti-dumping tariffs on Chinese steel exports since May. China forges almost half the world's steel and consume three-quarters of the seaborne trade in iron ore.
 
The price of iron ore is down sharply since trading just short of the $70 mark in mid-April but year to date the price is up by a third and has surged 55% since hitting near-decade lows in December. Year to date iron ore is averaging $52.20 (the price averaged $55 last year) and volatility has reduced markedly since Beijing's clampdown on speculation on futures markets inside the country.
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