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    

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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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Indian steel output rebounds after import curbs www.asia.nikkei.com

MUMBAI -- The Indian government's measures to combat cheap steel imports appear to be bearing fruit, with domestic steelmakers Tata Steel, JSW Steel and Essar Steel all reporting significant production increases in the first quarter of fiscal 2017.

The recovery is helpful to Indian steel companies burdened with high debt and low margins.

Indian operations of Tata Steel, which is divesting itself of money-losing operations in the U.K., recorded 8% growth in crude steel production to 2.5 million tons for the April-June quarter, with sales up 6% at 2.35 million tons. Automotive steel production hit a record 379,000 tons, the company said.

Integrated steel producer Essar Steel India reported 48% growth in flat-steel production in the first quarter at 1.22 million tons, compared with 824,000 tons in the same period last year. Pellet production grew 58%, from 1.28 million tons to 2.02 million tons.

Essar Steel believes that the upturn since March is due to minimum import pricing introduced for steel in February and quality controls applied by the Bureau of Indian Standards.

The improved volumes pushed Essar's operating margin to around 20% from 5%, which translates to an improvement of 6,000 rupees to 7,000 rupees per ton. "Following these measures by the Government of India, Chinese imports of steel at predatory prices [have] been contained, leading to better sales realization in the Indian market," Essar said.

JSW Steel has not yet released June production figures but registered 16% growth in crude steel output to 1.35 million tons in May. Demand for flat and long products grew 7% and 22% on the year.

Indian steelmakers had been lobbying against cheap imports, particularly from economically ailing China. India's iron and steel industry owes an estimated 3 trillion rupees ($44.4 billion) to banks. Tata Steel alone carries $12 billion in debt as a result of its outright purchase in 2007 of all of Corus Group's steel operations in Europe, the global economic slowdown, and cheap steel imports in Europe, particularly from China.

In February, Prime Minister Narendra Modi's government imposed minimum import prices ranging from $341 to $752 per ton for 173 types of steel. There is talk of extending them beyond August, when they are due to expire.

Other anti-dumping measures were imposed last year to regulate imports from such countries as China, South Korea and Japan. India's inbound steel shipments fell 34.2% to 654,000 tons in April from 994,000 tons in March, according to the latest official data. Steel imports rose 29% in the nine months ended December, which preceded the curbs.

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Berlusconi: AC Milan sold to Chinese consortium www.bbc.com

Former Italian Prime Minister Silvio Berlusconi says he has sold the soccer club AC Milan to a Chinese consortium.
Berlusconi, who owns the Serie A team, made the remarks to local newspapers on Tuesday.
He said they will be paying at least €400m (£220m) over the next two years, which may value the club at up to €750m including debt.
"Milan has now embarked on this path towards China," he said without disclosing the identity of the buyers.
However other media outlets, citing their own sources, said the terms of the deal are still being finalised.
Berlusconi, 79, has served as prime minister four times but was convicted of tax fraud and bribery.
His family holding company Fininvest reportedly entered into exclusive talks with the Chinese investor group in May.
The consortium is looking to buy 80% of the club immediately before eventually taking over the remainder.
The deal could even result in the soccer club being listed in China, according to Reuters news agency.
Asian investors
AC Milan is one of Europe's most successful clubs but is seeking new capital to enable it to better compete against other well-funded rivals.
It posted a loss of €93.5m ($104m) last year.
Berlusconi came close to selling a majority stake in AC Milan to a Thai businessman last year but changed his mind.
Many European teams are now owned or bankrolled by wealthy Asian or Middle Eastern investors or companies.
Local rival Inter Milan was sold to Chinese electronics retailer Suning Commerce Group last month.
And last month Chinese businessman Dr Tony Xia completed his £76m takeover of Championship club Aston Villa.
Football is a popular sport in China and the government has pledged to develop its local industry to become a world "superpower."

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Apple remains top brand of China Mobile subscribers, but iPhone 6s not so hot www.chinadaily.com

Apple Inc remains the most popular smartphone brand in China, despite its recent poor performance in its second-largest market, a new report said.
 
The report, released by China Mobile Communications Corp, is based on the analysis of the world's largest telecom operator's roughly 800 million subscribers. This is the first time that China Mobile opened its big data report to public.
 
In May, about 15 percent of China Mobile's subscribers are using iPhones, which amounts to about 120 million users. Domestic brands Xiaomi Corp and Huawei Technologies Co Ltd rank alongside Samsung Electronics Co as the second-most popular brands, with each company accounting for 9 percent of subscribers.
 
When it comes to the fastest-growing handset makers, smaller local rival vivo Mobile Communication Technology Co Ltd prevailed thanks to its sprawling offline-retail channels in small cities. About 14 percent of China Mobile subscribers registered in the first five months of this year are using vivo's handsets.
 
James Yan, research director at Counterpoint Technology Market Research, said Apple's strong performance in this report is not a contradiction of its recent declining smartphone sales in China.
 
"Compared with the iPhone 6 series, which was a record-breaking hit, the iPhone 6S was far less popular, so its sales as a whole declined," Yan said. "But compared with some local players, the iPhone 6S still delivers a relatively good performance."
According to Yan, the iPhone 6S had a strong start in the first several months of this year, but the demand quickly died out once the replacement cycle was finished, given that iPhone 6S only has incremental improvements to iPhone 6.
 
Still, Apple is the brand with the highest consumer loyalty in China. Forty-five percent of Apple users choose to buy another iPhone when they replace their old handsets, far higher than the average of 18 percent among other brands.
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Russian oil exports set for a record 2016 www.rt.com

Russia has increased crude exports by almost five percent to 5.55 million barrels a day in the first half of the year compared to 2015. Analysts say exports may reach a record high this year.The Russian Energy Ministry says output last month grew by 1.14 percent from a year earlier to 10,843 million barrels a day, with increases every month since July 2014. The ministry is predicting a 4.5-4.9 percent growth this year.
 
“If production remains steady, then it will likely be a record year for exports,” said Christopher Haines, head of oil and gas at BMI Research, as cited by Bloomberg. “This should mean competition is strong, especially with Iran sending more oil into southern Europe.”
 
In April, Russian crude exports jumped nine percent to their highest level in sixteen months. Overall, the country exported 20.3 million tons of crude that month.
 
Crude exports from Russia continue to grow; the country became the world's leading oil and natural gas exporter last year, according to BP's annual statistical review of world energy. It has overtaken Saudi Arabia in crude exports, and retained the top spot in exports of natural gas.In 2015, Russia’s oil production reached a new post-Soviet high of 11 million barrels per day, with three-quarters of it going for export.
 
Low oil prices and a higher tax burden have made it more profitable for Russian companies to export oil rather than deliver it to local refineries. Increased oil production was another reason for the surge in exports.
 
In 2016, Gazprom Neft is expecting to produce more from the northernmost onshore oilfields in Russia – the Messoyakha fields – which could be as much as 470 million tons of oil and gas condensate.
 
Lukoil has started development drilling at the Filanovsky oilfield in the Caspian Sea. In the next 30 years, the company intends to invest at least $14 billion in the field that has recoverable oil reserves at 151.3 million tons and 26 billion cubic meters of natural gas.
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Seventh Model ASEM approaching www.montsame.mn

Ulaanbaatar /MONTSAME/ Model ASEM 2016, the 7th forum of youth, is commencing July 7 in Ulaanbaatar. Director of the Department of Administration, Strategy and Cooperation of the Mongolian Youth Union Ch.Khongorzul, Asia-Europe Foundation (ASEF) director for education Leonie Nagarajan and participant of the Model ASEM O.Myagmarsuren called a press briefing today at Montsame agency.
 
The forum is being organized by the ASEF and Mongolian Youth Union with support by the Ministry of Foreign Affairs of Mongolia. More than 100 international delegates from ASEM member states, and 50 excellent young people from Mongolia will take part in this action.
 
Most of the guests are arriving in Mongolia for the first time. Out of over 3,900 applicants to the 7th Model ASEM, only 100 has been granted permission. Mongolia has chosen its participants among 300 applicants.
 
The youth forum will address issues covering politics, economy and social and cultural relations.
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Some banks consider moving out of the City www3.nhk.or.jp

Many financial institutions operating in Britain are considering moving their bases out of the City of London, the country's financial hub, following the Brexit vote.
 
There are about 250 foreign financial institutions based in London, a location that allows them to do business freely in other EU member states.
 
Following the UK's decision to leave the EU, some major foreign banks have begun discussing whether to move their bases to other European cities such as Frankfurt or Paris.
 
The CEO of JPMorgan Chase in the United States has said in an e-mail to employees that the firm may need to change its organization and the location of its European base in the next few months.
 
Britain's HSBC is considering moving 1,000 employees from London to Paris.
 
Western media report that the US firm Morgan Stanley has set up a working group to discuss relocating its European base to another city in the region.
 
They also report that Britain's Barclays is considering the Irish capital, Dublin, as a possible relocation site.
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South Korea launches first Internet of Things network www.bbc.com

South Korea has launched its first commercial, low-cost Internet of Things (IoT) network aimed at making the country even more connected.
The network would allow smart devices to talk to each other via the network.
Phone carrier SK Telecom is behind the initiative, which uses technology that will allow it to reach 99% of the country's population.
Aside from South Korea, the Netherlands also has a nationwide IoT network.
There will be charges involved as users will have to subscribe to monthly price plans that range from 350 Korean won ($0.30, £0.20) to 2,000 won.
SK Telecom is investing up to 100 billion won by the end of next year to further develop the infrastructure, which it hopes will be a new source of revenue.
In a statement it said the price plans are "highly affordable" and cost one-tenth of its current LTE-based IoT services which will ease the cost burden of startups and small and medium enterprises.
The IoT can help appliances like fridges or printers tell its owners when it needs to be refilled, help customers locate lost smartphones and even monitor pets.
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Head of London's financial district to visit Japan www3.nhk.or.jp

The Lord Mayor of the City of London, the capital's financial district, says he will visit Japan next week to explain the effects of Brexit on Britain's main financial center.
 
After Britain's vote to leave the European Union, Japanese executives are wondering whether to relocate their operations in the City of London.
 
Jeffrey Evans told NHK on Monday that the UK's exit from the EU may cause uncertainties, but that the City is determined to remain a leading financial center.
 
Evans indicated that the City can stay competitive. He noted that the width and depth of what London can offer is considerable and it's not easy to move activities and businesses to other centers.
 
Evans plans to meet with top executives of Japanese financial institutions and corporations next week to ease their concerns.
 
He will also visit South Korea and Taiwan.
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Billionaire Prokhorov's company denies Russian assets sale www.rt.com

One of Russia's major private investment funds ONEXIM group, which is owned by tycoon Mikhail Prokhorov, has dismissed reports the fund is selling all of its Russian assets.
“We have made no decisions on this matter. The group has always been and will continue to be an important player in the Russian market, maintaining a strategic interest in investments in the country," ONEXIM Group CEO Dmitry Razumov said in a statement.According to Razumov, the company is always negotiating purchases and sale of assets, as well as attracting new partners in respect of certain assets – which are a common business activity. Some of those processes continue for years, and it is “incorrect to make statements on the sale of all the company’s assets based on the fact of such talks,” he said.
 
On Monday business daily Vedomosti reported the ONEXIM Group is selling all of its assets following raids by Russia's Federal Security Service on the company’s offices in April. According to Vedomosti, the decision to sell the assets may be linked to the searches. One of its sources said rumors about the company’s intention to sell the assets could be linked to a “strong recommendation from the Kremlin” but there was no evidence of that.
 
Kremlin spokesman Dmitry Peskov dismissed reports of the administration’s involvement in the potential sale of ONEXIM assets, calling them “total nonsense.”The ONEXIM Group is one of Russia’s major private investment funds with a diversified investment portfolio in mining (Russian Aluminum Rusal, Uralkali potash company), financial services (Soglasie Insurance Company, Renaissance Capital and Renaissance Credit, International Financial Club), real estate (OPIN), media (RBC media holding, Snob), energy sector (Quadra power generator), utilities and technology.
 
Forbes magazine estimates Mikhail Prokhorov’s fortune at $10.3 billion. The businessman is the sole owner of the Brooklyn Nets basketball team.
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Silver and gold surge as investors seek safe haven www.bbc.com

Silver, long considered the poorer cousin of gold, is trading at its highest price in more than two years as investors put their money into precious metals, perceived as lower risk assets.
Spot silver rose by as much as 7% in US trading to above $21 an ounce. It has risen 11.5% in the past three days.
Gold added more than 1% to settle at $1,350.79, a two-year high.
The gains come amid speculation central banks will increase their stimulus measures following the Brexit vote.
Meanwhile, Asian stock markets mostly fell on Tuesday, following five consecutive days of gains, after oil prices fell below $49 per barrel.
Both Japan's benchmark Nikkei 225 and the broader Topix shed about 1%.
South Korea's Kospi is 0.3% lower.
Australian stocks fell 0.6%, led by commodity stocks.
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