1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Mongolians scrabble for dollars after local currency's plunge www.reuters.com

Making money amid Mongolia's deepening economic crisis, currency dealers thronging the black markets of Ulaanbaatar wave wads of American dollars and Chinese yuan, warning desperate customers that foreign banknotes are becoming scarcer by the day.

The Naiman Sharga market, close to the Mongolian capital's cluttered and impoverished "ger" or tent districts, has become a daily destination for residents panicked by a precipitous decline in the currency, the tugrik.

"Now I can't find any more dollars," said Ganbold, a currency trader, sporting a white, brimmed hat and galloping-horse belt buckle.

Ganbold has traded currency since the fall of communism in 1990 and up until now he’s been able to rely on the network of traders whenever he needed more cash.

But if a shipment of dollars doesn’t arrive from overseas as he hopes, Ganbold will have to close shop until more arrives.

Mongolia's government, elected in a landslide at the end of June, has been plunged into turmoil after years of collapsing foreign investment, unsustainable fiscal expansion and a decline in demand for commodities like coal and copper.

Last week, the central bank hiked interest rates by 450 basis points to a record 15 percent, stabilizing a currency whose 9 percent fall against the dollar from the start of August made it the world's worst performer. MNT=

Dollar supplies have dwindled, and commercial banks were severely restricting currency transactions, with one bank refusing to convert any dollars, Ganbold told Reuters as frustrated buyers milled around him.

Finance Minister Battogtokh Choijilsuren said earlier this month that the central bank's foreign exchange reserves stood at $1.3 billion. But, he added that after stripping out a 15 billion yuan currency swap agreement with China, reserves would show a deficit of $46 million.

An International Monetary Fund team was in town last week to meet members of Prime Minister Jargaltulga Erdenebat's new government, but some analysts suspect Mongolia might turn to China for another swap agreement rather resort to the IMF.

"There is a good chance China asserts its regional influence and offers Mongolia a bigger and better deal than the IMF in a bailout,” Nick Cousyn, chief operating officer of brokerage BDSec in Ulaanbaatar, commented.

“Mongolia is highly strategic for China, given Mongolia’s vast natural resources and potential as an economic corridor with Russia.”

ANXIOUS TIMES

The government, which promised to cut debt and lure back foreign investors, has introduced austerity measures like cutting senior employees' salaries and cancelling monthly student allowances.

Economic growth slowed to 1.4 percent in the first six months of 2016, down from an all-time high of 17.3 percent in the mining-driven boom of 2011.

Nearly half of Mongolia's three million population live in Ulaanbaatar, and these are desperate times for those aspiring families sending their sons and daughters for a university education overseas.

"My son is going to America for university tomorrow, but dollars are expensive and it's hard for us," a woman, who gave her name as Enkhmaa, said as she, and many other parents, hunted for the best rate among Naiman Sharga's dealers.

On Tuesday morning, traders were offering around 2,247 to 2,250 tugrik per dollar, which was still better than the official rate of 2,260 tugrik and the all-time low of 2,265.28 that was hit last Thursday.

Bank of Mongolia Governor Nadmid Bayartsaikhan told local media on Friday that he expected a tough two years, renegotiating terms on foreign debt which had totaled $23.5 billion in the first quarter of this year.

In a transcript published on the bank's official website, he called the appreciation of the dollar "artificial", and said it would eventually reverse course.

"That's why I would like to tell people not to be tricked by today's dollar exchange rate," he said. "Don't panic."

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Asian stocks consolidate after Wall Street gains, oil slips www.reuters.com

Asian stocks consolidated a recent run of gains on Wednesday, helped by Wall Street's rise overnight, even as oil prices slid on trade data showing a surprise build-up in U.S. crude stocks.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.1 percent in early trades. It has risen more than 14 percent since late June to hit a 1-year high last week.

Futures prices showed Australian shares were poised to edge higher on Wednesday while New Zealand stocks .NZ50 slipped after a recent rally.

U.S. housing-related stocks jumped 2 percent .HGX after the Commerce Department reported new U.S. single-family home sales soared unexpectedly in July to near nine-year highs.

The Dow Jones industrial average .DJI rose 17.88 points, or 0.1 percent, to 18,547.3, the S&P 500 .SPX gained 4.26 points, or 0.2 percent, to 2,186.9 and the Nasdaq Composite .IXIC added 15.48 points, or 0.3 percent, to 5,260.08.

The upbeat housing data prompted markets to extend their search for further clues to whether the Federal Reserve will raise U.S. interest rates this year. Global central bankers gather in Jackson Hole, Wyoming, later this week with investors focused on a speech by Fed Chair Janet Yellen on Friday.

The spike in new U.S. home sales pushed the dollar to 94.6 against a trade-weighted basket of currencies =USD after a drop of more than 2 percent so far this month.

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Tesla's Elon Musk says new car battery is a milestone www.bbc.com

Tesla Motors has unveiled a new battery pack for the performance versions of its Model S and X cars that will extend the range and mean faster acceleration.
Elon Musk, chief executive of the electric car maker, hailed the upgraded battery as a "profound milestone".
He said the battery cell chemistry is the same, but the reconfigured product stored more energy in the same space.
Tesla, which this month posted a steeper-than-expected loss, is adding a new sedan car to its sports line-up.
Mr Musk claimed that the new 100-kilowatt hour battery pack means high-end versions of the Model S sedan, called the P100D, will be the world's fastest accelerating car in production.
It will do 0-60mph in 2.5 seconds. He said there were faster cars on the market, but these were limited-run vehicles, while the Tesla is aimed at the mass market, he said.
"These are very profound milestones and I think will help convince people around the world that electric is the future," he said on a conference call with journalists.
The new battery extends the range of performance versions of the new Model S well beyond 300 miles (482.8 km), from about 290 miles, Tesla said.
Mr Musk said that in cool weather, a driver could travel from San Francisco to Los Angeles - a nearly 400 mile drive - without recharging.
In May, Tesla said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule.
But the company also warned that investment would ramp up as well.

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Polish apple farmers casualties of Russia-EU trade war www.rt.com

Poland is expecting a record apple harvest, but growers are having difficulty selling their produce and even face bankruptcy. Before the trade dispute with the EU, Russia accounted for more than half of Polish apple exports.

“The situation in the Polish apple market is rather difficult. Poland’s growers have been hit hardest by the [Russian] embargo,” said Anna Staszewska, an export specialist at EUROSAD, in an interview with the Financial Times. EUROSAD unites more than 30 farms and 700 hectares of orchards in the country.

Poland produces more than 30 percent of all European apples, and the country is expecting 3.5 million tons this summer. But the record harvest is hurting prices, which are at one zloty (€0.23) a kilo for dessert apples and €0.05 a kilo for industrial apples. This is a 20 percent drop since 2011, according to FT calculations.

“On one hand the higher harvest is a success. But at the same time, it poses a huge challenge for Polish farmers . . . There is no profit with the market in this situation,” said food and agribusiness analyst at Bank Zachodni WBK, Grzegorz Rykaczewski.

"We feel anxious about the situation. If it continues, and there will be a lot of apples and the prices will be low, I think that farms will start to go bankrupt,” said the owner of Fresh Fruit Services Marcin Hermanowicz.

The EU imposed sanctions on Russia after accusing Moscow of involvement in the military conflict in Eastern Ukraine and after Crimea voted to rejoin Russia. The Kremlin responded by imposing an embargo on agricultural produce, food and raw materials against countries that joined anti-Russian sanctions.

After the Russian embargo was imposed, the Polish government started a campaign to eat apples ‘against Putin’, which increased consumption, but after a while apple sales in Poland returned to normal.

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Bill Gates is now worth $90 billion www.cnn.com

Bill Gates' net worth has crossed the $90 billion threshold, according to a real-time rankings from Bloomberg's Billionaire Index.
Gates' net worth climbed not because of any stock rise at Microsoft (MSFT, Tech30), but because of jumps in the shares of Canadian National Railway (CNI) Company and Ecolab (ECL), two smaller companies in which he has holdings.
He's well ahead of Amancio Ortega, the Spanish retailer who is the world's second richest man. Ortega's fortune is $76 billion.
Forbes, which also tracks billionaires' wealth, estimates Gates' net worth at a more modest $78.7 billion. Forbes also says that Gates' net worth briefly topped $100 billion back in 1999, back before the federal antitrust case decision against Microsoft that year and the bursting of the tech bubble in early 2000.
According to Bloomberg, Gates' net worth is up $6.2 billion so far this year, but that's only the fourth biggest gain among billionaires on the index.

Facebook (FB, Tech30) founder and CEO Mark Zuckerberg has enjoyed an $8.9 billion jump in his net worth, while Harold Hamm, CEO of shale oil producer Continental Resources (CLR), has seen his net worth more than double. Hamm's fortune gained $7 billion, lifting his net worth to $13 billion.
Amazon (AMZN, Tech30) CEO Jeff Bezos' net worth rose $6.5 billion this year. He is now virtually tied with Warren Buffett for third place on the ranking of world's richest men.

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New IKEA Japan president takes recalls seriously www3.nhk.or.jp

The new president of major furniture retailer IKEA Japan says she takes a series of recalls at the firm seriously.

Helene von Reis, who was appointed to the post at the beginning of August, told reporters in Tokyo on Tuesday that IKEA places highest priority on consumer safety and quality.

The recalls occurred in June and July and include 720,000 chocolate bars, 25,000 safety gates for small children and 280,000 cooking utensil sets, all of which were developed by the firm.

Von Reis explained that all of the products were made by foreign manufacturers.

She said the causes of the products' defects are under investigation. She added that the company will work to solve the issue with the safety management division at its head office in Sweden, the product manufacturers, Japanese government officials and experts.

She also announced that IKEA Japan plans to begin online sales by August of next year. It has 8 stores in the country.

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India investigating French submarine company data leak www.bbc.com

India is investigating a massive data leak from French shipbuilder DCNS that affects a major submarine contract for its navy, defence officials say.
The leak of more than 22,000 pages exposes secrets about the combat capabilities of Scorpene-class vessels.
It is not clear who first obtained the confidential documents, which were made public by the Australian media.
Earlier this year DCNS won Australia's largest-ever defence contract to build a fleet of advanced submarines.
Details about the Shortfin Barracuda submarine class that will be built for Australia were not contained in the leak.
India signed a $3.5b (£2.6b, €3.1b) deal for six Scorpene vessels in 2005. They are being built in cooperation with an Indian government-owned shipbuilder in Mumbai.
India is investigating the leak to "find out what has happened," Defence Minister Manohar Parrikar said.
The Scorpene submarines are small-to-intermediate size vessels currently in use in Malaysia and Chile. Brazil is due to deploy the submarine type in 2018.
A DCNS spokeswoman described the leak as "a serious matter" and said French authorities would formally investigate.

The leak does not affect the Shortfin Barracuda subs planned for Australia
"The matters in connection to India have no bearing on the Australian submarine programme, which operates under the Australian government's arrangements for the protection of sensitive data," a statement said.
Australia deal to go ahead
DCNS beat out strong competition from Germany and Japan to secure Australia's A$50bn (€34bn; £27bn) contract to build its navy's next generation of submarines, a project that will stretch into the 2050s.
The Shortfin Barracuda submarines are to be built in Adelaide with the expectation of creating around 2,800 jobs in the region.
They will be 4,500-tonne conventionally powered submarines, closely related to the nuclear-powered Barracuda, which weighs 4,700 tonnes.
Australian Prime Minister Malcolm Turnbull said the leak was a reminder of the importance of cyber security, but rejected concerns it would endanger the contract.
The country's defence industry minister, Christopher Pyne, said in a statement that the leak had "no bearing on the Australian government's future submarine programme".

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Izuma Ushiyama: Mongolia has high potential to build solar power plant www.gogo.mn

11th Mongolia-Japan International Conference on Electric Power Transmission and Distribution Technologies and International Standardization is being held at the Energy School of the National University of Science and Technology. We deliver you the interview with Chairman of the Board of Ashikaga Institue of Technology, Ph.D., Izumi Ushiyama. 

-What energy technologies are able to be implemented in Mongolia according to the Japanese experience?
-According to the example of Japan, Mongolia has high potential to build solar power plant in renewable energy sector. 

-What is the theme of your presentation at the conference? 
-I will deliver presentation on global trend of using natural renewable energy, its experience and current condition. My topic will cover Mongolia too. 

-How is the possibility and terms to use solar energy in Mongolia? What is the first step Mongolia should take?
-Technology to build solar power plant has developed already. The key thing to consider is to find solution on connection to the central network. For instance, wind power plant need to be built in windy place. 

-What renewable energy policy is Japan maintaining? 
-Government of Japan has started implementing promotional pricing system in renewable energy sector since 2012. Government purchase renewable energy with high cost. 

As a result, renewable energy production reached 80 million kwh over the last three years. 

-How do you evaluate the global energy consumption?
-The most serous problem facing to the world's energy consumption is CO2 emissions. There are two solutions. First, nuclear power station and the second solution is to build renewable energy sources. 

However, Japanese experience show that nuclear power station is not the right solution. Thus, we should use renewable energy. 

R.Oyun

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Draft 2016-2020 governmental action program to be submitted to parliament www.montsame.mn

Ulaanbaatar /MONTSAME/ At its expanded meeting held Tuesday, the cabinet discussed a draft governmental action program for 2016-2020, and decided to submit it to parliament, reflecting proposals from local authorities.

This program has been worked out based on the Concept on Sustainable Development until 2030, the election program of the Mongolian People’s Party (MPP) and views from people, civil society organizations, contracts and documents.

Main objectives of the program are to revive the national economy which is in difficult situation in a short time, to support social sectors by accelerate the economic growth and to improve the people’s livelihood. The program also sets certain goals to empower the public service, to maximize professionalism of public servants, to make the public services quicker and more transparent and to strengthen the national security by fortifying the social trust.

The governmental action program has 350 clauses in four chapters. 

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Almost 28,000 workers affected by VW production problems www.rt.com

The biggest European car producer Volkswagen is facing production delays in a dispute with component suppliers. A week of production delays at the main Wolfsburg plant may cost VW up to €100 million in gross profits.“Production at several Volkswagen plants has been interrupted as a result of a halt in component deliveries by external suppliers,” said a statement from VW.

The automaker has urged seat producer CarTrim and ES Automobilguss, which makes cast iron parts for gearboxes, to continue supplying. The manufacturers want €58 million compensation from VW, saying its cancellation of a contract cost them tens of millions of euro. VW is refusing to compensate for the losses; the negotiations continued till late Friday and are expected to continue on Monday.

As a result of the supply problems, the car producer is cutting work hours at six of its plants.

“Although Braunschweig District Court has issued injunctions obliging the suppliers to resume deliveries, the suppliers have not as yet met their obligations. Volkswagen continues its efforts to reach an agreement with the suppliers,” the company said.

This has affected 10,000 workers at Wolfsburg, 7,500 in Emden, 6,000 in Zwickau, 1,500 in Kassel, 1,400 in Salzgitter and 1,300 in Braunschweig, making up about 10 percent of the company’s total workforce in Germany.

Volkswagen has been hit by an emissions scandal after it admitted its diesel cars were deliberately designed to cheat on emissions tests. In the US alone, VW has agreed to pay $15.3 billion in a settlement with local regulators.

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