1 INDIA'S SAIL TO IMPORT TRIAL COKING COAL CARGO FROM MONGOLIA, MAYBE BY AIR WWW.REUTERS.COM PUBLISHED:2025/05/07      2 UFE- IIAF “FINANCIAL ELITES 2025” INTERNATIONAL CONFERENCE & NETWORKING EVENT. THEME: THE IMPACT OF LEADERS` SUSTAINABLE DECISIONS ON BUSINESS ENTITIES MAY 09. 2025 WWW.UFE.EDU.MN PUBLISHED:2025/05/07      3 FRENCH DEVELOPMENT AGENCY TO OPEN ITS RESIDENT REPRESENTATIVE OFFICE IN MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/05/07      4 PUTIN TO MEET ON MAY 7 WITH LEADERS OF CUBA, MONGOLIA AND CONGO WWW.RADIOGRITODEBAIRE.CU PUBLISHED:2025/05/07      5 TEHRAN HOSTS IRAN-MONGOLIA POLITICAL CONSULTATION MEETING WWW.EN.MEHRNEWS.COM PUBLISHED:2025/05/07      6 NORTH KOREA-LINKED RESTAURANT REOPENS IN MONGOLIA AFTER YEARSLONG CLOSURE WWW.NKNEWS.ORG  PUBLISHED:2025/05/07      7 SOUTHGOBI ANNOUNCES UPDATE ON MONGOLIA TAX AUDIT WWW.FINANCE.YAHOO.COM PUBLISHED:2025/05/07      8 DRAFT LAW ON PUBLIC PROCUREMENT TO PRIORITIZE QUALITY-BASED CRITERIA WWW.MONTSAME.MN PUBLISHED:2025/05/06      9 MONGOLIA'S CENTRAL BANK PURCHASES 3.3 TONS OF GOLD IN 4 MONTHS WWW.XINHUANET.COM PUBLISHED:2025/05/06      10 KAZAKHSTAN, MONGOLIA EXPLORE NEW HORIZONS FOR TRADE AND ECONOMIC GROWTH WWW.EN.TREND.AZ  PUBLISHED:2025/05/06      "ЦАЦРАГ ИДЭВХТ БОДИСЫН НӨЛӨӨЛӨЛ ХЭМЖИХ ОЛОН УЛСЫН ЛАБОРАТОРИ БАЙГУУЛАХААР БОЛЛОО" WWW.GOGO.MN НИЙТЭЛСЭН:2025/05/07     МОНГОЛБАНК НЭГ ТОНН ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/05/07     Ц.ТУВААН: 39 ОРД ДЭЭР ТУХАЙН ОРДЫГ СТРАТЕГИЙН ОРД МӨН ҮҮ, БИШ ҮҮ ГЭДГИЙГ ТОДОРХОЙЛОХОД ЦАГ ИХ ОРНО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/05/07     ЭРЧИМ ХҮЧНИЙ НҮҮРСНИЙ ЭКСПОРТЫН ХАРЬЦААГ 70/30 БАЙЛГАХААР ТОГТЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/05/07     О.АЛТАНГЭРЭЛ: МОНГОЛД БАЙГАА ДИПЛОМАТ ТӨЛӨӨЛӨГЧИЙН ГАЗАР, ОЛОН УЛСЫН БАЙГУУЛЛАГЫН ХАРУУЛ ХАМГААЛАЛТЫГ САЙЖРУУЛНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/07     Н.УЧРАЛ: УРАНЫ ХАЙГУУЛ, ОЛБОРЛОЛТЫГ ХЯНАХ ИРГЭДИЙН ХЯНАЛТЫН ЗӨВЛӨЛИЙГ БАЙГУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/05/07     С.ОДОНТУЯА: ЭНЭ ХАВАР АЙЛ БҮР ХАШААНДАА ТАВАН МОД ТАРИХ АЯН ЭХЛҮҮЛНЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/05/07     ТАНИЛЦ: УЛААНБААТАРЫГ ХААГУУР, ЯАЖ 14 ХОТОД ХУВААВ. ЦААШИД ХЭРХЭХ ВЭ? WWW.EGUUR.MN НИЙТЭЛСЭН:2025/05/06     "ҮЙЛДВЭРЛЭЭД 10-ААС ДЭЭШ ЖИЛ БОЛСОН МАШИНД "У" СЕРИЙН ДУГААР ОЛГОХГҮЙ" WWW.EGUUR.MN НИЙТЭЛСЭН:2025/05/06     НИЙСЛЭЛИЙН ТӨВИЙН ЗУРГААН ДҮҮРЭГТ 1278 ТҮЦ НҮҮЛГЭВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/05/06    

Category

Events

Events

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

NEWS

64x64

OT gold production to increase contrary to copper output www.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Mining and Heavy industry Ts.Dashdorj received the leaders of Oyu Tolgoi LLC on August 9, for presentation of the current state of developments of the Oyu Tolgoi Project.

OT was represented at the meeting by Director of Board G.Batsukh and former CEO Andrew Woodley, as well as the Country Director for Mongolia of Rio Tinto S.Munkhsukh and others.

They stated that the company keeps safety and national procurement principles as priorities, and informed that 93 percent of staff are Mongolian citizens, as of the end of the second quarter of 2016. The company prefers to cooperate with Mongolian suppliers, owned by Mongolians for at least 51 percent.

To the Minister’s question on the production performance, the OT leaders stated that copper production is likely to reach 204 thousand tons, slightly lower that the estimation of 208 thousand tons, by the end of this year, while the gold production is expected to go up due to the possibility to extract high grade ores from the second phase of ground mine.

Present were also, the Vice Minister Kh.Badamsuren, A.Undraa MP and the heads of departments and divisions of the Ministry.

...


64x64

Police Raid IKEA's Russian Headquarters www.themoscowtimes.com

Russian police have raided the Russian headquarters of Swedish furniture company IKEA, local media reported Tuesday.

IKEA, which is currently based in Khimki, northern Moscow, has been involved in a number of long-term legal battles with the Russian government and local business.

A spokesperson for the company said that the searches were an attempt to blackmail the retail behemoth.

“The searches are taking place in relation to the legal dispute over the land. They’re searching for documents from 1993 over land rights. We are providing what is being asked for,” Semyon Shevchenko, a lawyer for IKEA Russia, told the RIA Novosti news agency.

“IKEA has been in Russia for over 20 years and is one of the largest investors in Russia’s economy. We do not plan to give into blackmail, even under such pressure,” he said.

Officers from Moscow region’s economic crimes unit searched IKEA’s offices in April after the regional branch of Russia’s Interior Ministry initiated a criminal case against the retailer on charges of fraud.

The Khimki Collective Agricultural Enterprise (KSPhP) took IKEA to court in 2012, claiming that IKEA had the obtained the offices from them fraudulently during the previous year.

...


64x64

Dentsu buying Merkle to boost global marketing www.asia.nikkei.com

TOKYO -- Dentsu, Japan's biggest advertising agency, will acquire a majority stake in U.S. data marketing firm Merkle to boost its global marketing operations by taking advantage of the Baltimore-based company's expertise in customer data analysis.
 
Dentsu will buy Merkle shares from Technology Crossover Ventures, an American investment fund for information technology businesses, and other shareholders through its wholly owned British subsidiary Dentsu Aegis Network, the Tokyo-based company said Monday in the U.S. It did not disclose the value of the deal.
 
The transaction is expected to be completed by the end of September. Merkle's founder, management and employees will retain their shares in the company.
 
Merkle logged $436 million in sales last year. It has more than 3,400 employees and 21 operational outlets across the world.
 
The company offers data-based marketing strategies mainly to big businesses seeking such benefits as reinforcing relations with customers and improving the cost-effectiveness of marketing.
 
Dentsu has been on a buying spree, with Dentsu Aegis purchasing more than 80 companies in the past three years. The latest acquisitions include Gyro, a U.S. business-to-business advertising agency, and WIS Performance Media, a Taiwanese electronic advertising company.
 
The Merkle deal is the biggest acquisition by far for Dentsu Aegis and is expected to expand the company's scale of operations and range of services, Dentsu said.
...


64x64

Alibaba develops VR mobile pay technology www.chinadaily.com

Alibaba Group Holding Ltd said it is developing virtual-reality-enabled mobile payment technology－as the e-commerce giant bets big on VR-driven shopping for future growth and is wrestling with arch rival Tencent Holdings Ltd for supremacy in the booming digital payment market.
 
The Hangzhou-based company confirmed to China Daily on Monday that it is working on the futuristic technology, which could allow users to pay bills in a 3-D virtual world by nodding their heads or making other gestures to log in payment accounts.
 
The revelation of its latest move comes shortly after the company offered a preview of its Buy+ virtual store. Wearing a headset and with two hand-controllers, consumers can get into a 360-degree virtual environment where they can hold, feel and try on bags, shoes and lingerie as they do in real life.
 
Consumers won't－yet－be able to pay using VR.
 
"Consumers of Buy+ can shop in a virtual world, but they will still have to take their headsets off and go back to the real world to pay bills," said Ant Financial, the financial affiliate of Alibaba.
 
"We are working on the VR-driven payment tool to offer a real immersive and complete VR shopping experience," added Ant Financial, the owner of Alipay, the most popular mobile payment tool in China.
 
The company declined to disclose when the new technology will be released, but local media site yicai.com quoted an Alibaba employee as saying that it could possibly be launched as soon as the end of September.
 
In the first quarter of 2016, China's third-party mobile payment tools handled transactions worth more than 5.9 trillion yuan ($885.8 billion), up by 110 percent from a year earlier, data from internet consultancy Analysys International show.
 
Alibaba dominated the industry with a 63 percent market share while Tencent trailed behind it with its WeChat Payment accounting for 23 percent.
 
Experts said the difficulty of developing VR-enabled payment tools lies in how to ensure security while keeping it easy to use.
 
Li Chao, an analyst at research firm iResearch Consulting Group, said it would be hard to persuade shoppers as well as sellers to accept VR-enabled payment tools. "The VR industry is still in infant stage. VR games are still a niche, let alone VR payment. Also when it comes to financial payments, consumers value security more than just being cool," Li said.
...


64x64

Oil pares near 3-percent gains amid oil glut worries www.reuters.com

Crude prices inched down on Tuesday in Asia, paring gains of nearly 3 percent from a day earlier, as worries over a global oil glut tempered speculation that OPEC would try to restrain output.
 
Qatar's Energy Minister and OPEC President Mohammad bin Saleh al-Sada said on Monday the oil market is on the path to rebalancing despite the recent decline in global oil prices, adding that OPEC was in continuous talks to stabilize the market.
 
OPEC members are to have an informal meeting on the sidelines of the International Energy Forum, which groups producers and consumers, in Algeria from Sept. 26-28. Some OPEC officials had said a revival of talks on a global oil production freeze could be discussed at the meeting if oil prices weaken.
 
The upward momentum was offset by news that the Louisiana Offshore Oil Port in the United States will have an additional 2.5 million barrels in oil capacity by April 2017.
 
London Brent crude for October delivery was down 19 cents at $45.20 a barrel by 0033 GMT, after settling up $1.12, or 2.5 percent, on Monday.
 
NYMEX crude for September delivery was down 19 cents at $42.83 a barrel, after closing up $1.22, or 2.9 percent, on Monday.
 
Market intelligence firm Genscape reported a build of more than 307,000 barrels at the Cushing, Oklahoma delivery hub for WTI futures in the week to Aug. 5, traders said, even as analysts forecast a total U.S. crude inventory drop of 1 million barrels.
...


64x64

Fair trade commission raids Amazon Japan www3.nhk.or.jp

The Japan Fair Trade Commission has investigated the local unit of American e-commerce firm Amazon.com on suspicion of unfair trading practices.
 
Amazon Japan is suspected of having pressured retailers to offer products at the same or lower prices than they offer on rival sites.
The company allegedly presented retailers with these conditions before they concluded a deal.
 
Amazon Japan officials have declined to comment on the case.
 
Amazon's business practices have also come under scrutiny in Europe.
European Union anti-trust authorities are investigating the firm's e-book business.
...


64x64

Walmart to buy Jet.com for $3.3bn www.bbc.com

Walmart has announced plans to buy e-commerce site Jet.com for $3.3bn (£2.5bn) in a move that could help boost its online retail sales.
Walmart has been struggling to compete against online retailers like Amazon.
Jet.com has soared in the e-commerce space since it launched in 2015, undercutting some of Amazon's prices.
Doug McMillon, Walmart's chief executive, said the deal would help accelerate the growth of Jet.com and Walmart's own website.
"We're looking for ways to lower prices, broaden our assortment and offer the simplest, easiest shopping experience because that's what our customers want," said Mr McMillon. "We believe the acquisition of Jet accelerates our progress across these priorities."
Walmart will pay $3bn in cash and $300m in stock.
Walmart and Jet.com will remain separate companies, but will co-operate over technology.
Jet.com launched in July 2015 by entrepreneur Marc Lore. Mr Lore sold his last company Quidsi, the parent company of a family of websites including Diapers.com and Soap.com, which was sold to Amazon in 2011 for $545m.
Jet.com started off using a pricing strategy that offered discounts for placing larger orders and charged a $50 subscription fee.
The subscription model was dropped after three months.
"The combination of Walmart's retail expertise, purchasing scale, sourcing capabilities, distribution footprint, and digital assets - together with the team, technology and business we have built here at Jet - will allow us to deliver more value to customers," said Mr Lore.
...


64x64

China sees effects of coal capacity cuts: Top economic planner www.chinadaily.com

BEIJING - China's top economic planner said on Monday that the country has made progress in reducing excess coal capacity by advancing economic structural reform.
 
Coal output declined 9.7 percent year on year to reach 1.63 billion tons in the first half of 2016, widening from a 5.8-percent drop recorded in the same period last year, said the National Development and Reform Commission (NDRC) on its website.
 
Coal enterprises and major electric power plants saw their coal stockpiles drop as of the end of June, down 8.6 percent and 16.6 percent, respectively, according to the NDRC.
 
The decline in coal stocks resulted in a narrowed decline for major coal business profits, reaching 3.5 billion yuan ($525 million) in the first five months, down 73.2 percent year on year, compared with a 92.5-percent drop in the first quarter.
 
The NDRC attributed the progress to the government's continued efforts in reducing production output, eliminating outdated capacity and promoting mergers, reorganization, and industry upgrades.
 
Meanwhile, coal consumption nationwide edged down 5.1 percent year on year to reach 1.82 billion tons in H1, according to the NDRC.
 
China is the world's largest producer and consumer of steel and coal. The two industries have long been plagued by overcapacity and felt the pinch even more in the past two years as the economy cooled and demand has fallen.
 
The Chinese government made reducing excess capacity a top priority in late 2015 at the Central Economic Work Conference and put it at the center of the 13th Five-Year Plan.
 
China plans to cut steel and coal capacity by about 10 percent -- as much as 150 million tons of steel and half a billion tons of coal -- in the next few years, with funds set aside to help displaced workers.
...


64x64

Oil prices rise on renewed output freeze talks, but fundamentals remain weak www.reuters.com

Oil prices rose in early trading on Monday, lifted by reports of renewed talks by some members of the Organization of the Petroleum Exporting Countries (OPEC) to restrain output.
 
U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $42.01 per barrel at 0022 GMT (08:22 p.m. EDT), up 21 cents, or 0.5 percent, from their last close.
 
Brent crude futures LCOc1 were trading at $44.40 per barrel, up 13 cents, or 0.29 percent.
 
Analysts said that the price rise came on the back of renewed calls by some OPEC members to freeze production in a bid to rein in output consistently outpacing demand.
 
"OPEC members including Venezuela, Ecuador and Kuwait are said to be behind this latest reincarnation. But just like previous endeavors, it seems doomed to fail, given key OPEC members (think: Saudi Arabia, Iraq, and Iran) persist in their battle for market share, ramping up exports apace," said Matt Smith of U.S.-based ClipperData in a note.
 
Yet in the absence of an agreement, a fight for market share via high output and price discounts is still weighing on oil markets.
 
Iraq has dropped the September official selling price (OSP) for Basra Light crude to Asia by $1.00 to minus $2.30 a barrel against the average of Oman/Dubai quotes from the previous month, the State Oil Marketing Organization (SOMO) said on Monday, making it the latest exporter to drop its prices.
 
Meanwhile, oil drilling in the In the United States keeps increasing.
 
"Another increase in the rig count in the U.S. also weighed on sentiment. The Baker Hughes data show rigs operating in the U.S. are the highest since March (at 381)," ANZ bank said on Monday.
 
On the demand side, analysts at AB Bernstein said that oil demand growth had been strong in 2015 and the first half of this year, at 2.0 and 1.5 percent respectively, but that the outlook was weakening.
 
"In July following the UK Brexit vote, the IMF downgraded global growth by 10 basis points (bp) in 2016 and 20 bp in 2017. This has negative implications for (oil) demand," the analysts said.
 
"We expect that demand growth could slow in the second half of 2016 to around 1.1 percent and slow further in 2017 to a below consensus 1.0 percent on the current global growth outlook," AB Bernstein added.
...


64x64

Vale looking to raise $10B through Chinese streaming deal www.mining.com

Vale (NYSE:VALE) is getting more creative in its debt-reduction plans, by bolstering cash flow through a metal streaming deal with Chinese companies.
 
The revelation by Reuters on Wednesday came via un-named sources, who say that under terms of the arrangement, Vale would sell part of its future output to the Chinese over 30 years.
 
Hit by its deepest quarterly loss ever, and slumping iron ore prices, the Rio de Janeiro-based company said in February it wants to reduce its net debt to $15 billion within 18 months and would look at selling core assets to do it. The Samarco dam collapse in November last year, which killed 19 people and became Brazil’s worst environmental disaster, also forced Vale to book a write-down of $132 million in unpaid dividends and royalties.
 
Among the candidates for divestiture is Vale's fertilizer business. U.S.-based Mosaic Co. (NYSE:MOS), the world’s largest producer of phosphate fertilizer, is said to be in talks with Vale to acquire the Brazilian mining giant’s fertilizer unit, in a deal worth about $3 billion.
 
The world's biggest iron ore producer already has an agreement with Silver Wheaton (NYSE, TSX:SLW) regarding its Salobo copper mine in Brazil. On Tuesday Vale and Silver Wheaton tweaked the deal, so that the portion sold to Silver Wheaton rises to 75 percent from 50 percent. Vale will receive an upfront payment of $800 million.
 
Iron ore prices slumped again on Friday to below US$60 a tonne, despite breaking through $60 resistance on July 28 on the back of strong Chinese steel prices, and expectations of an investigation into dumping by Brazilian and Australian iron producers of product into China.
...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook