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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Abe urges support for small firms following Brexit www3.nhk.or.jp

Prime Minister Shinzo Abe says his government will do everything it can to support smaller businesses to weather the possible impact of the UK's vote to leave the European Union.
 
The government held an extraordinary meeting of its Council on Economic and Fiscal Policy on Tuesday.
 
Besides helping small companies, Abe said it is necessary to nip risks in the bud to keep the global economic growth on track.
 
He was responding to comments by a private-sector member of the Council. Sadayuki Sakakibara is the chairman of Japan's largest business federation, Keidanren.
 
Sakakibara spoke of heightened concern among Japanese companies about confusion in financial markets and a need to rethink their business strategies.
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Prime Minister launches Mongolia Investment Guide www.en.montsame.mn

Ulaanbaatar /MONTSAME/ The guide was launched by Mongolia's Prime Minister, Chimediin Saikhanbileg, at a ceremony in Ulaanbaatar. He said it would "improve transparency, reduce bureaucracy, improve the business environment and strengthen relations with investors", writes UNCTAD.
 
Designed to facilitate investment decisions, the UNCTAD online Investment Guide to Mongolia provides local and foreign investors with updated and hard-to-find information on operating costs, wages, rents and taxes, as well as on laws, procedures opportunities in mining, agriculture, tourism and financial services, and useful contacts.
 
The guide is aimed at helping Mongolia attract the kind of investment it needs to fulfill the aspirations set out in the global Sustainable Development Goals. UNCTAD has calculated that to achieve the SDGs developing countries globally need to attract $2.5 trillion a year in private investment per annum to bridge the current financing gap.
 
The information in the guide was developed following extensive meetings with government agencies that deal with investors as well as with investors themselves. To this end, the guide provides an overall investment picture that isn't available elsewhere.
 
Staff at the Invest Mongolia Agency took the lead in producing the information and data, under the guidance of UNCTAD. Training on investment issues was a key element in the programme.
 
The guide is based on a platform developed by UNCTAD (www.theiguides.org) and currently used in a number of countries. It has been designed to be easy update, ensuring the information available remains relevant.
 
The Mongolia investment guide is part of a package of assistance provided by UNCTAD to the Government on investment matters, and follows the Investment Policy Review of Mongolia of 2013.
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VW US emissions settlement reported to cost $15bn www.bbc.com

German carmaker Volkswagen has reportedly reached a $15bn (£11.3bn) settlement with US car owners after admitting it cheated emission tests.
The deal would offer to repair or buy back the affected diesel vehicles and pay owners compensation, according to sources close to the talks.
Last year, US regulators discovered that VW cars were fitted with software that could distort emissions tests.
The German giant subsequently said 11 million cars were affected worldwide.
The US settlement is still pending approval by a judge, but it would be the largest car scandal settlement in the country's history. The details are expected to be announced on Tuesday.
According to news agencies, the legal settlement sets aside $10 billion to repair or buy back around 475,000 affected vehicles with 2-litre diesel engines, and to compensate owners with a payment of up to $10,000.
Car owners would still be able to decline the VW offer and sue the firm on their own.
According to the sources quoted by news agencies, the deal also includes $2.7bn in funds to offset excess diesel emissions and $2bn for research into green energy and environment-friendly cars.
Caught cheating
The German carmaker installed software in diesel engines to detect when they were being tested so the cars could cheat the results.
Some models could have been pumping out up to 40 times the legal limit of the pollutant, nitrogen oxide, regulators disclosed.
Volkswagen told its shareholders last year it had set aside $7.3bn to help defray the potential costs of a recall or regulatory penalties.
That amount though might not be enough - the company faces as much as $20bn in fines for Clean Air Act violations alone.
The increased emissions provision pushed VW to an annual pre-tax loss of €1.3bn (€1.4bn), compared with a profit of €14.7bn the previous year.
VW expected group sales to fall by up to 5% in 2016.
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EU referendum: German car makers warn on free movement www.bbc.com

German car makers have said that the UK will have to accept the free movement of EU citizens in return for access to the single market.
Matthias Wissmann, from the German Automotive Industry Association, said the UK would have to accept the "bitter pill" of free movement.
Restricting access to the UK was a key promise of the Leave campaign.
Leave campaigners also argued that, to help car exports, Germany would push for a generous trade deal with the UK.
However the German car makers appear to be taking a tough line.
"We don't like to build new barriers... but any bid to secure full access to the single market would necessarily come with conditions. Everyone who negotiates on the British side will understand that," Mr Wissmann said.
"If you want full access to the market, that comes necessarily with the free movement of people. That's the bitter pill the Brexiteers have to accept," he added.Responding to those comments, Conservative MP John Redwood said: "The contacts I've had over recent months have always stressed to me that Germany doesn't wish to impose new tariffs or other barriers in the way of our trade
"And Germany in particular doesn't want the World Trade Organisation external tariffs on cars, because that's one of the few which is quite a bit higher."
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Japan, US officials to cooperate on Brexit www3.nhk.or.jp

Senior officials from Japan and the United States have agreed to work together to stop adverse effects on the economy and security from the UK's decision to leave the European Union.
 
Japan's Vice Minister for Foreign Affairs Shinsuke Sugiyama met with US Deputy Secretary of State Antony Blinken in Washington on Monday.
 
After the meeting, Sugiyama told reporters that he and Blinken shared the view that the UK is an important country that has cooperative ties with both Japan and the US.
 
He also said they noted that the security situation in the Asia-Pacific region is becoming increasingly tense in the wake of North Korea's launches of 2 missiles last week.
 
Sugiyama said he agreed with Blinken that it is important to strengthen cooperation between Japan, the US and South Korea.
 
Later this week, Sugiyama will also visit London and Brussels, where the EU headquarters is located, to meet with senior officials.
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Gazprom ready to restart Turkish Stream dialogue after Erdogan apology www.rt.com

Gazprom is ready to resume talks with Ankara on the construction of the Turkish Stream gas pipeline after Russia received an apology for the downing of its warplane from Turkish President Recep Tayyip Erdogan, the company’s spokesperson said.
The Russian gas giant is "open for dialogue" on the Turkish Stream project, which would run along the bottom of the Black Sea, Gazprom spokesperson Sergey Kupriyanov told Interfax on Monday.
 
In 2014, Gazprom and Turkey’s Botas signed a memorandum of understanding for the construction of Turkish Stream.The 1,100km pipeline was planned to have four lines and an annual capacity of up to 63 billion cubic meters (bcm) of gas.
 
According to the agreement, about 16 bcm was supposed to be supplied to Turkey while the remaining 47 bcm was to go to a hub on the Greek-Turkish border to be transported onwards to Europe.
 
However, Moscow suspended negotiations on the project as part of other sanctions in response to Turkey’s shooting down of a Russian jet in Syria on November 24, 2015.
 
On Monday, the Kremlin said that Russian President Vladimir Putin had received a letter in which his Turkish counterpart Erdogan apologized for the incident with the Su-24 plane and the subsequent death of a Russian pilot.
 
In his letter, Erdogan called Russia “a friend and a strategic partner” of Ankara with whom the Turkish authorities want to mend ties.
 
From the start, Moscow made it clear that restoration of normal relations with Turkey would be impossible without Ankara saying for the downing of the plane. But Russia had to wait for an apology for over half a year.
 
 
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SDC: Tackling poverty in Mongolia through support to vegetable production www.en.montsame.mn

Ulaanbaatar /MONTSAME/ With more than 63,000 predominantly small-scale vegetable growers throughout Mongolia, the vegetable sector has become vital in poverty alleviation and as a source of healthy food for an increasingly urbanized population.
 
The Swiss Agency for Development and Cooperation (SDC) believes that providing support for increased and diversified production, storage, processing, marketing and consumption, as well as a conducive legal framework, will benefit both rural households’ livelihoods and the national economy.
 
SDC’s new Inclusive and Sustainable Vegetable Production and Marketing Project, launched in April 2016, will work with vegetable farmers mainly in the central region of Mongolia including the suburbs of Ulaanbaatar city, providing them with greater knowledge and higher-quality seeds through collaboration with national agricultural institutions and the Ministry of Food and Agriculture.
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Brexit: Asian powers warnings over global stability www.bbc.com

Some of Asia's biggest economies have expressed concerns over the world's economic stability as a result of Britain's vote to leave the EU.
China's Finance Minister Lou Jiwei said the consequences were unclear, but that they would be felt for years to come.
Both South Korea's President Park Geun-hye and Japanese Prime Minister Shinzo Abe said their countries were prepared to react to market volatility.
Meanwhile, US Secretary of State John Kerry is due in London on Monday.
He is expected to meet UK Foreign Secretary Philip Hammond on the first high-level face-to-face talks between the two countries since Thursday's referendum.
Follow the latest developments on our live page
There is fear that the uncertainty created by Britain's decision will continue to affect financial markets around the world.
Mr Lou, from China, said Brexit would "cast a shadow over the global economy" and that the "repercussions and fallout" would emerge over the next five to 10 years.
However, he added that reaction from stock markets, which fell sharply on Friday, may have been overdone.
"The knee-jerk reaction from the market is probably a bit excessive and needs to calm down and take an objective view," he said.
Huang Yiping, a member of China's central bank monetary policy committee, said Brexit could mark a "reversal of globalisation", which would be "very bad" for the world.
Last year, China was responsible for $3.3bn (£2.4bn) worth of foreign direct investment in Britain, according to law firm Baker & McKenzie.
David Cameron announced £40bn ($54.7bn) worth of deals between Britain and China following a visit to the UK by President Xi Jinping in October last year.
Ready to act
Following the result of the vote, the pound plunged 10% against the dollar to a 31-year low before trimming losses to end the day around 7.5% down.
Sterling also fell 11.4% against the yen. Japan hinted that it may intervene to stem the yen's strength.
On Friday, the Swiss National Bank acted to weaken the Swiss franc which rose 2.1% against the dollar as investors rushed to buy the currency.
Anand Mahindra, chairman of Mahindra Group, an auto-to-aerospace Indian conglomerate with operations in Britain, said the world was behaving "as if a tsunami wave has hit" which he viewed as an over-reaction.
He said: "My hunch is that you're going to see a fair amount of recovery in markets worldwide."
Earlier this year, the Indian company launched the e2o electric car in the UK where it already has a presence with its IT business Tech Mahindra.Mr Mahindra said Britain's decision to leave may prove advantageous.
"The last time I spoke to the people in the British government about reducing taxes and duty on electric vehicles, they said they were hampered from doing so because of the European Union protocols and tariffs.
"So I hate to say this but as far as our electric vehicles are concerned this is probably something where I could go back to them and say you know you're going to have your own discretion to lower the taxes from now on."
Adi Godrej, chairman of India's Godrej Group, which operates worldwide and sells beauty brands such as Soft & Gentle and Bio-Oil in Britain, was less sanguine than Mr Mahindra.
He said it was surprising the UK had taken a decision "which is going to be so negative for it from an economic point of view".
He added that it would affect Indian companies which had set up in Britain as a gateway to the EU.
"It will be bad because they will have to establish themselves in other parts of Europe."
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Kishida asks UK to consider Japanese firms www3.nhk.or.jp

The Japanese Foreign Minister has asked the British government to give consideration to Japanese firms in the UK so they can continue to do business as usual.
 
Fumio Kishida met British Ambassador to Japan Tim Hitchens in Tokyo on Monday, following the UK's vote to leave the European Union. Kishida received a letter from British Foreign Secretary Philip Hammond.
 
The Ambassador said Britain will maintain close relations with important partners like Japan and the US while his country implements the decision reached in the referendum.
 
Kishida told Hitchens that Japan and Britain are important partners who share basic values.
 
He said the 2 countries should further improve ties and contribute to the peace and stability of the international community.
 
Kishida said that while Japan respects the decision of the British people, it wants the UK government to listen to the voices of more than 1,000 Japanese firms doing business in the country.
 
Ambassador Hitchens later told reporters that the British Embassy in Tokyo will host a meeting on Wednesday for Japanese firms investing in his country.
 
He said the British government should listen to Japanese businesses in order to sustain economic growth and stability.
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China warns Brexit will 'cast shadow' over global economy www.bbc.com

China finance experts have warned that Britain's decision to leave the European Union will "cast a shadow over the global economy".
Finance minister Lou Jiwei said the "repercussions and fallout" will emerge over the next five to 10 years.
Huang Yiping, a member of China's central bank monetary policy committee, said the Brexit could mark a "reversal of globalisation".
If so, he said, it would be "very bad" for both the world and China.
Last year, China was responsible for $3.3 billion worth of foreign direct investment in Britain, according to law firm Baker & McKenzie. Between 2005 and 2015, it has invested nearly $30 billion in Britain.
David Cameron announced £40 billion worth of deals between Britain and China following a visit to the UK by President Xi Jinping in October last year.
While Mr Lou said the result "will cast a shadow over the global economy", he added that it was difficult to predict the outcome and said the reaction from global stock markets, which fell sharply on Friday, may have been overdone.
"The knee-jerk reaction from the market is probably a bit excessive and needs to calm down and take an objective view," he said.
Follow the latest developments on our live page
Following the result of the vote, the pound plunged 10% against the dollar to a 31-year low before trimming losses to end the day around 7.5% down.
Sterling also fell 11.4% against the Japanese yen which is seen by investors as a safe haven for investors in times of crisis.
Japan hinted that it may intervene to stem the yen's strength.
Tomomi Inada, chairwoman of the Policy Research Council of the ruling Liberal Democratic Party, said: "Speculative, violent moves (in the forex market) have extremely negative effects. If necessary, the government should not hesitate to respond, including currency intervention."
On Friday, the Swiss National Bank acted to weaken the Swiss franc which rose 2.1% against the dollar as investors rushed to buy the currency.
In the Middle East, shares on the Saudi Arabia stock exchange fell 3.7% on Sunday.
Weak pound, big opportunities
Anand Mahindra, chairman of Mahindra Group, the auto to aerospace Indian conglomerate with operations in Britain, said the world was behaving "as if a tsunami wave has hit" which he viewed as an over-reaction.
He said: "My hunch is that you're going to see a fair amount of recovery in markets worldwide and a certain amount of objectivity and reason return to the perspective in which the Brexit is viewed from tomorrow."
Earlier this year, the Indian company launched the e2o electric car in the UK where it already has a presence with its IT business Tech Manhindra.

Mr Mahindra said Britain's decision to leave may prove advantageous.
"The last time I spoke to the people in the British government about reducing taxes and duty on electric vehicles, they said they were hampered from doing so because of the European Union protocols and tariffs.
"So I hate to say this but as far as our electric vehicles are concerned this is probably something where I could go back to them and say you know you're going to have your own discretion to lower the taxes from now on. So I'm certainly going to drive that point home."

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