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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Samsung earnings plummet amid smartphone recall www3.nhk.or.jp

Samsung Electronics has reported a 96-percent drop in earnings from smartphones from July to September.
 
The South Korean mobile giant was forced to stop production and sales of its Galaxy Note 7 smartphones this month after reports that some were catching fire.
 
The phone was released in August.
 
Samsung's earnings report for the 3 months through September shows operating profit in the smartphone sector fell 96 percent to about 88 million dollars.
The firm's overall profit was down 30 percent.
 
At shareholders' meeting on Thursday, President Shin Jong-Kyun said the firm has received more than 200 reports on the smartphone defects.
 
Shin apologized to customers from around the world and said his firm will fully review its quality control procedures.
 
On Wednesday, South Korea's central bank said Samsung's problems are likely behind the country's slow GDP growth in the July - September quarter.
 
Analysts warn that the country's economy may continue to suffer from the Samsung fallout.
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Mongolia is a destination you cannot afford to miss www.mongolia.gogo.mn

Lonelyplanet.com introduced the ten top countries for best in 2017 while Mongolia ranked 7th in the list.
They highlighted: "In 2017 Mongolia will raise the curtain on a brand-new capital-city airport, a state-of- the-art facility that symbolises the country’s rapid modernisation. Ulaanbaatar has been the biggest beneficiary of the economic boom, its transformed skyline bristling with glass and steel towers. At the centre of this development is a US$500-million Shangri-La complex, which will be completed by 2017, featuring a 290-room hotel, an IMAX cinema and a Hard Rock Café. Beyond the capital lies Mongolia’s stunning countryside, highlighted by Lake Khövsgöl, the Blue Pearl of Asia. In 2015 the lake was connected to Ulaanbaatar by paved road, cutting driving time by 10 hours".
The ten destinations you cannot afford to miss are:
Canada
Colombia
Finland
Dominica
Nepal
Bermuda
Mongolia
Oman
Myanmar
Ethiopia
 
 
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Nokia beats profit expectations in third quarter www.reuters.com

Finnish telecom network equipment maker Nokia (NOKIA.HE) said on Thursday its quarterly profit fell less than expected as it was boosted by a non-recurring licensing payment from Samsung [005930.KS].
 
Third-quarter earnings before interest and taxes (EBIT) decreased 18 percent from a year ago to 556 million euros ($606 million), clearly surpassing the average analyst forecast of 430 million given in a Reuters poll of analysts.
 
Group sales dropped 7 percent from a year ago to 5.95 billion euros, including network equipment sales falling to 5.32 billion, which compared with a market consensus of 5.39 billion.
 
Nokia also said its chief financial officer Timo Ihamuotila, who had helped the company to restructure from a troubled phone maker into a network equipment company, would resign to join Switzerland's ABB.
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China courier ZTO delivers year's biggest U.S. IPO www.reuters.com

Chinese package delivery company ZTO Express said it raised $1.4 billion in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China's booming online-shopping industry.
 
The stock market debut, the biggest by a Chinese company since the $25 billion IPO of e-commerce giant Alibaba Group Holding Ltd (BABA.N) in 2014, gave the Shanghai-based company a market value of more than $12 billion.
 
ZTO's U.S. listing is a head start over rivals in the world's largest express delivery market because it gives the company faster access to cash to expand.
 
The company wants to use $720 million of its IPO proceeds to buy more trucks, land, facilities and equipment.
 
Its Chinese competitors SF Express, YTO Express, STO Express and Yunda Express have all unveiled plans for listings in Shenzhen and Shanghai but with a backlog of about 800 companies waiting for approval to go public in China and frequent changes to the rules, a New York listing is regarded as a quicker and more reliable way of raising funds and tapping a broader mix of investors.
 
ZTO's existing shareholders, including private equity firms Warburg Pincus, Hillhouse Capital and venture capital firm Sequoia Capital will also get much more leeway and flexibility to exit their investment under U.S. market rules. In China, they would be locked in for one to three years after the IPO.
 
ZTO priced 72.1 million shares at $19.50 a share, above its previously indicated range of $16.50 to $18.50 a share.
 
That price is about 27 times its expected 2017 earnings per share, according to people familiar with the company's financials.
 
By comparison, rivals SF Express, YTO Express, STO Express and Yunda shares trade between 43 and 106 times earnings, according to Haitong Securities estimates.
 
U.S. rivals, United Parcel Service Inc (UPS.N) and FedEx Corp (FDX.N), which are growing at a much slower pace, are trading at multiples of 17.8 and 13.4 times expected 2017 earnings.
 
INTERNATIONAL ACQUISITIONS
 
As concerns grow about a weakening Chinese currency, the New York IPO also gives the company more stable dollar-denominated shares it can use for international acquisitions, according to people close to the company.
 
ZTO will have a dual-class share structure that will give its founder Lai Meisong 80 percent voting power in the company, even though he will only hold 28 percent of the stock after the IPO.
 
Most of Lai's shares are Class B ordinary shares carrying 10 votes, while Class A shares, including the new U.S. shares, have one vote. China's markets do not allow shares with different voting power.
 
China's express delivery firms handled 20.7 billion parcels in 2015, shifting 1.5 times the volume moved in the United States, according to consulting firm iResearch data cited in the ZTO prospectus.
 
The market will grow an average 23.7 percent a year through 2020 and reach 60 billion parcels, iResearch forecasts.
 
Domestic rivals STO Express and YTO Express have unveiled plans to go public with reverse takeovers worth $2.5 billion and $2.6 billion. The country's biggest player, SF Express, and rival Yunda Express, are working on similar deals worth $6.4 billion and $2.7 billion respectively.
 
ZTO said the American depositary shares will begin trading on the New York Stock Exchange on Thursday under the ticker symbol ZTO.
 
Morgan Stanley (MS.N) and Goldman Sachs Group Inc (GS.N) are the lead IPO underwriters.
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Auto parts firms see potential in inland China www3.nhk.or.jp

Japanese-affiliated auto parts firms that have made inroads into China have promoted their products in the country's inland region.
 
Representatives of about 30 firms took part in the first business promotion event in the city of Chongqing on Wednesday. The event was hosted by the Japan External Trade Organization.
 
The companies are manufacturing parts in the southern Chinese province of Guangdong and elsewhere.
 
Auto production is rising rapidly in Chongqing. Output in the city topped 3 million units last year alone.
 
The figure is higher than production in Shanghai city and Guangdong Province, making Chongqing the country's top car-producing area for the second straight year.
 
Auto firms, both domestic and foreign, are beginning to set up production hubs in the city.
 
Anxious to make inroads into the inland market, participants were seen enthusiastically promoting their products to officials of local firms.
 
A representative of a metal processing company with a plant in Guangdong Province says differences in business practices make it difficult for Japanese firms to promote sales in China, but expressed resolve to do just that.
 
The head of JETRO's office in Chengdu, Eiji Okada, meanwhile showed readiness to support Japanese- affiliated enterprises embracing the opportunity, saying the auto industry in inland China is expanding rapidly.
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Sony to spin off camera business www3.nhk.or.jp

Sony says it will spin off its camera business in April, as part of streamlining efforts. The business will be the last of the company's electronics operations to be separated from the parent.
 
The new company will be in charge of digital and video cameras for the home as well as cameras and other broadcasting equipment for businesses.
 
The camera business has annual sales of about 6.7 billion dollars. That would make the future company Sony's second-biggest to be spun-off, following its TV unit.
 
Sony has spun off its other electronics businesses to increase their independence and streamline operations.
 
With Sony's latest move, the company is now set to rebuild its electronics business, which was once a major drag on its performance.
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LinkedIn could soon be banned in Russia www.rt.com

The world's largest professional network LinkedIn could soon be blocked in Russia. The company has failed to comply with a law that obliges companies to keep data on Russian users in the country.
 
Apart from not moving servers to Russia, LinkedIn collects and sends information about people who are not users of the network without their consent, according to the Russian internet watchdog Roskomnadzor.
 
"We are seeking a court order to block LinkedIn. We twice sent requests in the summer, but they did not provide answers to our questions," said Roskomnadzor spokesman Vadim Ampelonskiy in an interview with the TASS news agency.
 
According to the spokesman, Moscow’s Tagansky District Court has ruled in favor of the watchdog, but LinkedIn has appealed to a higher court.
 
“If the appellate court upholds the judgment, and it will no longer be appealed, the decision will enter into force within 30 days. We will include the appropriate IP address in the register of violators of the personal data rights, which means blocking,” Ampelonskiy said. The decision will be announced on November 10.
 
The watchdog will remove the ban, if the social network provides information that it has fulfilled the law and moved servers with data about Russians to the country.
 
"This is the first company we are suing in court. In future we will use the same mechanism in relation to other companies," the spokesman said.
 
Roskomnadzor also told Kommersant daily that another reason for the lawsuit was "numerous publications in the media about repeated leaks of user data from the social network."
 
In May, website Haker.ru reported the sale of 167 million stolen LinkedIn accounts, and passwords for 117 million accounts on the dark web. LinkedIn said the leak happened in 2012, and passwords have now been updated.
 
LinkedIn is the world's largest business and employment oriented social network. As of 2015, it had 400 million users with 5 million people registered in Russia.
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China to overtake US nuclear capacity www.rt.com

The growth of China's nuclear power industry will make it the world's biggest in 15 years, the World Nuclear Association (WNA) said on Tuesday.
 
The country will overtake France to have the second-largest number of nuclear reactors by 2020, according to WNA director general Agneta Rising.
 
China’s push to develop nuclear energy comes from the need to improve air quality in its rapidly growing cities as well as reduce greenhouse gas emissions in line with international commitments. The country has one of the highest rates of air pollution related deaths in the world.
 
"For China, the air pollution is a major driver," Rising was cited by Reuters.
 
The WNA report showed that in Asia 134 operable reactors generated 400 terawatt hours of electricity last year, making up 16 percent of global nuclear generation. There are firm plans to increase that figure, with 39 reactors comprising 47.4 gigawatts (GW) currently under construction in Asia. Twenty of those are to be built in China.
 
Beijing has set a goal to generate 58 GW of nuclear energy by 2020. A gigawatt of power provides enough energy for about 700,000 homes.
 
By 2050, nuclear power generation in China is expected to exceed 350 GW, including about 400 new nuclear reactors at a cost of over a trillion dollars.
 
"There is history in the region, where you have high-skilled people with very good university education and they have been working on research reactors... so I think there is basis of knowledge," Rising said. "The big driver (in Asia) is to have electricity for people."
 
According to the report, there are plans for more than 50 reactors providing more than 50,000 MW in nine new countries in the region. Most of them plan to have their first nuclear reactors enter operation before 2030.
 
New reactor construction is mostly led by industrializing countries which have enjoyed high levels of economic growth with an accompanying increase in energy demand, the WNA said.
 
It added that four countries - China, Russia, India and South Korea - are expected to account for 70 percent of reactors commissioned through 2030.
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Tesla reports first quarterly profit for three years www.bbc.com

Electric car maker Tesla has reported net income of $21.9m (£17.9m) for the third quarter after 13 consecutive quarterly losses.
This compared with a loss of $230m a year earlier.
Record deliveries helped to offset rising expenses for next year's roll-out of the company's mass-market Model 3 saloon car.
Tesla delivered a record 24,821 cars during the quarter, more than 300 more than estimated.
Shares in the electric car maker jumped 3.76% in after-hours trading.
"The Tesla third quarter results reflect strong company-wide execution in many areas," said chief executive Elon Musk and chief financial officer Jason Wheeler in a statement.
"We set new records for vehicle production, deliveries and revenue."
Tesla, which went public in 2010, had not made a net quarterly profit since the first quarter of 2013.
In the previous two quarters it had missed production targets.
The firm is counting on the Model 3 to help it meet its 2018 goal of producing 500,000 cars annually.
The Model 3 is Tesla's attempt to widen its market appeal with a more affordable car. Its starting price is expected to be $35,000.
In its third quarter results Tesla did not provide an update on its planned $2.6bn acquisition of solar panel maker SolarCity.
Mr Musk, who is SolarCity's chairman and main shareholder, has said he plans to provide more financial details on the deal on 1 November before a vote by shareholders of both companies on 17 November.
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Apple steps into void from Samsung debacle www.asia.nikkei.com

PALO ALTO, U.S. -- Apple is confident of revenue growth thanks to the inferno surrounding Samsung Electronics' discontinued smartphone.

The U.S. tech giant on Tuesday turned in a 9% year-on-year slide in net sales for fiscal 2016's final quarter ended in September. Apple marked a third straight quarterly drop and its first annual revenue decline in 15 years. However, the company forecasts sales to rise as much as roughly 3% for the current October-December period.

"Fiscal 2016 saw more customers switch from Android to iPhone than ever before," Apple CEO Tim Cook said during Tuesday's conference call. "Demand continues to outstrip supply" for the newly released iPhone 7 models.

Sales had suffered amid criticisms that Apple's latest smartphones lack innovation. Then South Korean rival Samsung was forced to contend with the defects in the Galaxy Note 7, which have caused even replacement phones to catch fire. Samsung permanently ended production and sales of the device this month. Taiwan's KGI Securities, a noted Apple watcher, predicts over 5 million current or potential Note 7 customers will purchase iPhones instead. That scale would be equivalent to over 10% of unit sales during the July-September quarter.

In America, where Chinese makers of downmarket smartphones have marginal share, Apple and Samsung effectively hold a duopoly in the high-end device market. In many cases, an iPhone would be the first choice to replace old Samsung phones absent available updated versions, analysts say. To keep its remaining customers, Samsung is offering Note 7 owners a trade-in program to get next year's new version for half the price.

Meanwhile, Apple is further innovating smartphone quality control and internal designs -- areas that typically do not grab headlines but contribute to device functionality. The aim is to increase market share by ensuring quality.

The first wireless chip designed by Apple powering the iPhone 7's Wi-Fi earphones is one result of that push. Apple also is standardizing core components and decentralizing suppliers. Apple hired Intel to make communications chips for the iPhone 7 along with fellow American chipmaker Qualcomm, which had been the lone procurement source for five years.

 
 
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