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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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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Erdenes Mongol LLC solicits nominations for three independent directors NAMBC Newsletter

Erdenes Mongol LLC (EMGL), the SOE which holds the state shares in various mining ventures including Oyu Tolgoi LLC, has started recruitment for three independent members to be appointed to the EMGL board of directors. EMGL CEO B. Byambasaikhan announced they are looking for qualified international candidates, have place an ad in The Economist, and are considering engaging a reputable international executive search firm. In addition, EMGL plans to recruit an Advisory Board to assist with strategic planning and fund-raising. These steps are part of a 2 to 3 year corporate transformation program for EMGL being financed by a US$35 million loan from the Asian Development Bank.

For details on applying for the independent director positions, visit
http://jobs.economist.com/job/12867/independent-director/

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Japan to partner in Russian industrial trade fair www3.nhk.or.jp

Government officials in Russia have announced Japan will be the partner country in a major industrial trade fair next year. The country wants to boost cooperation with Japanese manufacturers.
 
INNOPROM is Russia's biggest industrial trade fair. Minister of Industry and Trade Denis Manturov and Japan's Ambassador to Russia Toyohisa Kozuki spoke to reporters at the site in Ekaterinburg.
 
Manturov said cooperation between the 2 countries could expand dialogue in industrial circles as well as create a base for further trade and economic ties.
 
China was Russia's partner in last year's fair, while India is supporting the event this year.
 
The Japanese government will call on many of the country's manufacturers to participate next year.
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Japanese shares see third day of gains www.bbc.com

Japanese shares see a third day of gains, leading a positive trend across the Asia Pacific region.
Investors remain optimistic that Prime Minister Shinzo Abe's party's election win over the weekend will mean there will be more stimulus policies.
Mr Abe had described the vote as an endorsement of his reform policies and promised new government spending to help the economy.
Tokyo's Nikkei 225 index rose by 1.8% to 16,381.75 in morning trade.
In China, Hong Kong's Hang Seng was up by 0.6% to 21,359.54 while the mainland Shanghai Composite edged 0.4% higher to 3,062.84.
Australia's benchmark ASX/200 index in Syndey rose 0.5% to 5,382.60 points.
With the iron ore price seeing a strong rise overnight, commodity companies were among the best performers of the morning.
Atlas Iron was up by 9% after an 18% surge on the open. Fortescue gained more than 4% while BHP Billiton was up just over 2%.
In South Korea, the Kospi was up by 0.9% to 2,008.74 points.
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Japan revises downward growth for FY2016 www3.nhk.or.jp

Japan has revised downward its economic growth forecast for this fiscal year, which ends next March, citing weakness in consumer spending.
 
Officials at the Cabinet Office have released a new projection of around 0.9 percent growth in real terms for fiscal 2016. In January, the officials had made a projection of 1.7 percent.
 
The officials say that personal spending lacks strength, and that the government decision to delay a planned consumption tax hike has erased expectations for an increase in consumer spending before the tax hike.
 
They also say that uncertainty is spreading over the global economy due to economic slowdowns in emerging economies and Britain's decision to leave the European Union.
 
The Cabinet Office has also set growth projection for fiscal 2017 at 1.2 percent in real terms, which is lower than the government target of 2 percent.
 
The officials are expected to report their economic forecasts at a meeting of the government's Council on Economic and Fiscal Policy on Wednesday.
 
They say they expect the country's growth rate will be boosted by new economic stimulus measures due to be drawn up by the end of this month.
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Brussels urges Russia to lift Ukrainian transit restrictions www.rt.com

European Neighborhood Policy Commissioner Johannes Hahn has asked Russia to end the measures restricting the transit of Ukrainian goods. He also asked Ukraine not to rush responsive measures.
"I do not agree with these kinds of measures because they do not contribute to the positive development of the entire region, including Russia. I really urge Russia to take a different decision. Of course, we will do all we can to deal with this issue," said Hahn at a briefing in Kiev on Tuesday.
 
The EU Commissioner said he understands Ukraine’s desire to respond to Russia’s transit restrictions, but said this won’t help to achieve any peaceful outcome.In January, the Kremlin changed transportation rules for Ukrainian goods exported to Kazakhstan through Russia. Ukraine first has to transport the goods to Belarus in sealed containers. The freight must have the GLONASS navigation system installed when it enters Russia. The tracking system is to be removed as soon as the cargo leaves Russian territory.
 
On July 3, Russian President Vladimir Putin applied the same rules to Ukrainian exports to Kyrgyzstan and extended the restrictions until the end of 2017.
 
The next day, Kiev promised to introduce reciprocal measures for the transit of Russian goods, but until now has only extended the food embargo till the end of next year.
 
Russia suspended the free trade treaty with Ukraine in January after Kiev signed the EU Association Agreement. Moscow said Kiev’s move to open its borders to the EU compromises Russian interests and economic security. Russia is concerned that without a barrier, Ukraine could illegally supply embargoed European goods to Russia.
 
Before Kiev signed the EU Association Agreement, Russia and Ukraine were part of the free trade agreement between CIS countries.
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Italy 'facing 20 years of economic woe' www.bbc.com

The IMF has warned that Italy faces two decades of stagnant economic growth.
Its latest report on the country puts growth this year at under 1%, down from its previous 1.1% estimate, and forecasts growth in 2017 of about 1% - down from a 1.25% estimate.
The IMF says Italy will not reach pre-crisis levels until 2025, by which time its neighbours will have economies 20-25% above 2008 levels.
Italy is the third largest eurozone country.
It has 11% unemployment and a banking sector in crisis, with government debt second only to that of Greece.
The country's banks are under pressure because the long-standing poor economic performance has depressed tax revenue and increased the chances of businesses getting into difficulty and being unable to maintain their loan payments.
Italian banks are weighed down massive bad debts, and may need a significant injection of funds.
'Surge'
The IMF says any recovery is likely to be prolonged and subject to risks.
Among those risks are the UK's withdrawal from the European Union, which it said last week had prompted it to downgrade its forecasts for growth for the entire eurozone.
Other problem areas include "the refugee surge, and headwinds from the slowdown in global trade".
The IMF said last week that the eurozone was expected to grow by 1.6% this year and 1.4% in 2017. Before the referendum the IMF had predicted growth of 1.7% for both years.
The IMF also revised down its 2018 growth forecast to 1.6% from 1.7%.
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Million-dollar coin unveiled www.mining.com

Premier Colin Barnett today unveiled the world's first coin to feature a significant red diamond from Rio Tinto's Argyle pink diamond mine.
 
The exclusive $1 million Kimberley Treasure coin was struck by The Perth Mint from one kilogram of 99.99 per cent pure gold, and features an image of a red kangaroo holding a radiant 0.54 carat red gemstone between its front paws.
 
The unique collectable also displays the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II on the obverse, confirming its status as legal tender of Australia.
 
Mr Barnett said the creation of the precious icon was a great example of two companies sharing a passion for quality craftsmanship and Western Australia's rarest and most valued resources.
 
"The Perth Mint and Rio Tinto's Argyle pink diamond mine have been at the hub of Western Australian industry for decades, so I am delighted to unveil a collector's item which captures two of the most beautiful treasures of our State," he said.
 
As an alternative asset class, gold is a traditional haven in times of uncertainty. The metal remains buoyant with its price rise directly linked to demand for the prized commodity. In recent weeks, gold has reached record price highs of more than AUD$1,850, exceeding its previous high of AUD$1,846 in 2011.
 
The Perth Mint refines more than 95 per cent of the country's newly mined gold and exports significant volumes of bullion bars to international markets. It provides world-class safe storage facilities for nearly 30,000 investors globally, who collectively hold more than $3 billion in precious metal with the Perth Mint.
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Govt. to compile extra budget after election win www3.nhk.or.jp

The Japanese government is set to start compiling a supplementary budget needed to implement new economic stimulus measures.
 
Prime Minister Shinzo Abe is expected to instruct Finance Minister Taro Aso and Economic Revitalization Minister Nobuteru Ishihara on Tuesday to draw up the economic package.
 
This comes after his ruling coalition won a majority of the contested seats in Sunday's Upper House election.
 
The measures will likely include the construction of ports for large cruise ships to welcome more foreign tourists and low-interest financing for the construction of a maglev train line in order to speed up the project.
 
The government is also considering measures for disaster prevention and mitigation, as well as offering more support for child care and nursing care.
 
The government will likely also earmark money for small and medium-sized firms amid growing uncertainties sparked by Britain's vote to leave the European Union.
 
Some members of the ruling parties are calling for a budget of about 98 billion dollars.
 
But a major problem is how to secure funding for the package.
 
Tax revenues are not likely to increase due to sluggish corporate earnings amid the strengthening of the yen.
 
Experts say the government may be forced to issue government bonds before the fiscal year ends in March next year.
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Japanese shares continue their rally www.bbc.com

 

Japanese shares continued their gains on Tuesday, adding another 2.4% in morning trade after already clocking up 4% on Monday.
The Nikkei 225 rose to 16,075.33 points.
Nintendo shares once again were among the strong performers, adding as much as 7%.
That came after stocks in the gaming company had jumped 25% on Monday as the company's smartphone game Pokemon Go proved a huge international success.
Shares across Asia were also buoyed by Wall Street rising to record peaks on the back of talk of policy stimulus in Japan and the UK.
In Australia, the ASX/200 was 0.5% higher at 5,364.50 points.
South Korea's benchmark Kospi index edged up by 0.2% to 1,992.84.
 
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Starbucks to raise US workers' salaries www.bbc.com

Coffee giant Starbucks has said it will raise wages for workers at all its US stores in October.
The pay rises will result in 5% to 15% increases for workers.
Starbucks faced criticism recently for cutting staff hours, and raising prices to meet profit expectations.
In a letter to employees Starbucks' chief executive, Howard Schultz said the company was looking to 'strike a balance' between profit and social responsibility.
Starbucks will increase base pay by at least 5%, though it may be more for workers in certain areas of the country.
The coffee chain is also doubling the amount of stock it distributes to hourly employees, who have worked for the company for at least two years.
The combined increases could result in 15% more income for some store employees.
"Striking the delicate balance between profit and a social conscience is a responsibility I take personally," Mr Schultz wrote.
The world's largest coffee chain employs 150,000 workers in its US stores.
Cutting hours
It has recently come under fire from employees who claim their hours have been cut.
More than 12,800 people signed an online petition alleging the coffee giant slashed hours.
The petition's creator claims that "morale is at the lowest I've seen in nearly 9 years of service ad that workers have found it hard to get more than 25 hours of work per week.
One factor is thought to be the growing number of mobile apps that allows customers to order and pay for drinks on their phones, meaning less sales assistants are needed.
In his letter, Mr Schultz addressed the scheduling concerns and said the company would work to ensure employees had the hours they needed to be eligible for certain benefits.
"You have my personal commitment that we will work with every partner to ensure you have the hours you need," he wrote.
Starbucks also faced customer anger last week when it raised the prices of certain beverage ahead of schedule. The company blamed a computer program for the increases coming into effect early.
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