1 MONGOLIA PM FACES LIKELY CONFIDENCE VOTE AMID CORRUPTION CLAIMS WWW.AFP.COM PUBLISHED:2025/06/02      2 RIO TINTO FINDS ITS MEGA-MINE STUCK BETWEEN TWO MONGOLIAN STRONGMEN WWW.AFR.COM PUBLISHED:2025/06/02      3 SECRETARY RUBIO’S CALL WITH MONGOLIAN FOREIGN MINISTER BATTSETSEG, MAY 30, 2025 WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/02      4 REGULAR TRAIN RIDES ON THE ULAANBAATAR-BEIJING RAILWAY ROUTE TO BE RESUMED WWW.MONTSAME.MN PUBLISHED:2025/06/02      5 MONGOLIAN DANCE TEAMS WIN THREE GOLD MEDALS AT THE WORLD CHAMPIONSHIP CHOREOGRAPHY LATIN 2025 WWW.MONTSAME.MN  PUBLISHED:2025/06/02      6 RUSSIA STARTS BUYING POTATOES FROM MONGOLIA WWW.CHARTER97.ORG PUBLISHED:2025/06/02      7 MONGOLIA BANS ONLINE GAMBLING, BETTING AND PAID LOTTERIES WWW.QAZINFORM.COM PUBLISHED:2025/06/02      8 HOW DISMANTLING THE US MILLENNIUM CHALLENGE CORPORATION WILL UNDERMINE MONGOLIA WWW.THEDIPLOMAT.COM PUBLISHED:2025/05/30      9 ORBMINCO ADVANCES BRONZE FOX PROJECT IN KINCORA COPPER PROJECT IN MONGOLIA WWW.DISCOVERYALERT.COM.AU PUBLISHED:2025/05/30      10 MONGOLIA SOLAR ENERGY SECTOR GROWTH: 1,000 MW BY 2025 SUCCESS WWW.PVKNOWHOW.COM PUBLISHED:2025/05/30      ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХ, С.БЕРДЫМУХАМЕДОВ НАР АЛБАН ЁСНЫ ХЭЛЭЛЦЭЭ ХИЙЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     Н.НОМТОЙБАЯР: ДАРААГИЙН ЕРӨНХИЙ САЙД ТОДРОХ НЬ ЦАГ ХУГАЦААНЫ АСУУДАЛ БОЛСОН WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/02     Л.ТӨР-ОД МҮХАҮТ-ЫН ГҮЙЦЭТГЭХ ЗАХИРЛААР Х.БАТТУЛГЫН ХҮНИЙГ ЗҮТГҮҮЛЭХ ҮҮ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ЦЕГ: ЗУНЫ ЗУГАА ТОГЛОЛТЫН ҮЕЭР 10 ХУТГА ХУРААЖ, СОГТУУРСАН 22 ИРГЭНИЙГ АР ГЭРТ НЬ ХҮЛЭЭЛГЭН ӨГСӨН WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООЖ, ШАЛГАНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ГАДНЫ КИБЕР ХАЛДЛАГЫН 11 ХУВЬ НЬ УИХ, 70 ХУВЬ НЬ ЗАСГИЙН ГАЗАР РУУ ЧИГЛЭДЭГ WWW.ZINDAA.MN НИЙТЭЛСЭН:2025/06/02     НИЙТИЙН ОРОН СУУЦНЫ 1 М.КВ-ЫН ДУНДАЖ ҮНЭ 3.6 САЯ ТӨГРӨГ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     ГОВИЙН БҮСИЙН ЧИГЛЭЛД УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30     СОР17 УЛААНБААТАР ХОТНОО 2026 ОНЫ НАЙМДУГААР САРЫН 17-28-НД БОЛНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/05/30     НИЙСЛЭЛИЙН ТӨР, ЗАХИРГААНЫ БАЙГУУЛЛАГЫН АЖИЛ 07:00 ЦАГТ ЭХЭЛЖ 16:00 ЦАГТ ТАРНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30    

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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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Samsung profits boosted by smartphone sales www.bbc.com

Strong smartphone sales have helped Samsung Electronics post its best quarterly results in more than two years.

Second-quarter operating profit jumped 18% to 8.1tn Korean won ($7.17bn; £5.46bn), in line with the company's guidance issued in July.

Operating profit at its mobile division soared 27% year-on-year to 4.3tn won.

That is mainly driven by strong sales of its Galaxy S7 and Galaxy S7 Edge smartphone models.

Samsung predicts continued increase in demand for its smartphones and tablets in the second half of the year.

But the company also indicated that "market competition is expected to strengthen as other companies release new mobile devices".

Samsung is confident that the release of a new large-screen flagship smartphone in the third quarter will help maintain the track record of its smartphone sales.

Samsung's results are in contrast to rival Apple. Earlier this week, the US company reported a 15% drop in iPhone sales for the April-to-June quarter. And it also said it expected sales to fall again in the current quarter.

As for other divisions in the Samsung conglomerate, the company is forecasting a decline in TV demand for the second half of the year, citing "weakened demand in Europe and a prolonged economic slowdown in emerging markets".

The South Korean corporate giant also reported earnings growth in its consumer electronics division, which sells refrigerators, washing machines and air conditioning units.

 
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Fed keeps key interest rate unchanged www.nhk.or.jp

Policymakers at the US Federal Reserve have kept the key interest rate unchanged. But their positive view for the country's economy is raising speculation that a rate hike may be on the way.

The Fed announced the decision after a two-day meeting of the Federal Open Market Committee that ended on Wednesday.

A statement released after the meeting says the US labor market strengthened and economic activity has been expanding at a moderate pace.

It also says the committee continues to monitor global economic and financial developments.

The Fed has decided against an interest rate increase for five policy meetings in a row.
But the Fed said near-term risks to the economic outlook have diminished.

The US economy is believed to have grown more than two percent in the April-June quarter.

Some analysts expect that the Fed may raise the rate as early as in its next policy meeting in September.

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Kiev refuses to pay Russian debt because it was 'forced to take the money' www.rt.com

Ukraine’s Finance Minister Oleksandr Danilyuk says he sees no reason why the country should repay the $3 billion debt to Russia.“It was a political credit which we were forced to take... Our position is that we shouldn’t return the money,” he told Ukrainian channel Espreso.TV
 
The minister confirmed the hearings at the High Court in London over the lawsuit brought by Russia concerning Kiev’s unpaid debt could take up to two years.
 
Ukrainian President Petro Poroshenko in May approved a bill extending the moratorium on paying off the country’s external debt, including the $3 billion Eurobond owed to Russia. The law allows Kiev more time to legally find ways to restructure its external debt.
 
Kiev’s debt to Moscow is the result of a deal sealed in 2013 between President Vladimir Putin and former Ukrainian President Viktor Yanukovich. Moscow agreed to give Kiev a $15 billion loan through the purchase of Ukrainian Eurobonds. The first tranche of $3 billion was purchased by Russia and was to be repaid by December 20, 2015.After Ukraine failed to repay the debt on schedule Moscow filed a lawsuit demanding the repayment.Moscow had already suggested a debt-relief plan under which Ukraine could repay its arrears in three installments of $1 billion over the next three years. Russia wanted guarantees from the US, the EU or the International Monetary Fund on future payments of the Ukrainian sovereign debt. The deal, however, fell through, as Ukraine’s Western backers were unwilling to provide the guarantees.
 
Moscow says its bond purchase was a state loan, not a commercial one but Kiev argues that it was part of external commercial debt and could be restructured.
 
The International Monetary Fund recognizes Kiev’s debt to Russia as official and sovereign, with Ukraine, as the borrower state, responsible for the loan repayment.
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Facebook earnings beat expectations www.bbc.com

Facebook has posted another exceptional quarter of growth, with profit up 186% from this time last year.
Facebook earned $2bn (£1.5bn) in the period from April to June, up from $719m in 2015.
Analysts had anticipated revenue of $5.8bn, but the company managed to beat even those high expectations bringing in $6.4bn in revenue.
Chief executive Mark Zuckerberg said the company was particularly pleased with the growth in video.
"Our community and business had another good quarter," he said, "We're particularly pleased with our progress in video as we move towards the world where video is at the heart of all our services."
Shares of the social media giant climbed nearly 7% in after-hours trading.
Video advertising
Facebook has been encouraging businesses to experiment with video and rolling out new advertising platforms for mobile ads.
Mobile advertising made up 84% of Facebook's ad revenue in the second quarter up from 76% last year. The company has benefited from an influx of advertising money moving away from television and on to digital platforms.
"Facebook still has many growth levers left to pull, not least of which is video advertising," an analyst from RBC Capital Markets wrote in a client note.
The number of monthly-active-users (MAU) - a key measurement for advertisers - increased by 15% to 1.71 billion as of 30 June 2016.
By comparison, Twitter's MAU increased by just 3% in that period.The number of daily active users topped one billion for the first time. The time spent on the site by daily users also rose.
"Facebook remains a top pick for us, given its position as the largest/most engaging mass-reach internet platform for advertisers, unmatched targeting potential, and very potent monetisation formats," Cantor Fitzgerald analysts said in a research note.
"Mobile has been the main driver of growth to date, video and Instagram should start moving the needle more meaningfully in the second half of 2016."
Facebook has been pushing new services, including photo and video-sharing on Instagram and its messaging apps.
The company has also encouraged advertisers to try new means of reaching their targets, including the new Facebook Live feature, where users can watch live streaming videos.
Revenue increased in all geographic areas, climbing 19% in Asia and 21% in Europe.
Even as Facebook celebrates its success, analysts say the company needs to keep an eye on rival Snapchat, which has a fast-growing user base.
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Porsche hiring for electric car project www.bbc.com

The German luxury carmaker Porsche says it is creating 1,400 jobs to develop its electric car - the Mission E.
The sports carmaker, owned by VW, is pushing to get its battery-powered model on to the market in 2019 and is spending about €1bn (£836m; $1.1bn) to get it on the road.
It wants to compete with the pioneering California-based Tesla for a share of the market.
Porsche admitted that finding staff for the project is tough.
"I'm not denying the battle for talent is tough," said Andreas Haffner, human resources boss at Porsche.
"One can in fact describe what is going on now as a 'war for talents'. We are in direct competition with other automakers and suppliers and IT firms in our global search for talented experts. Money alone is not enough to attract these creative minds."
Battling to overcome its diesel emission scandal, parent company VW has said it plans to launch 30 all-electric models to reposition itself as a leader in "green" transport.
The new jobs will be based at Porsche's plant in Zuffenhausen. Overall the company currently has more than 24,000 employees.
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Powerball jackpot grows to $422 million, eighth largest ever www.reuters.com

The U.S. Powerball jackpot grew to $422 million ahead of an 11 p.m. EDT drawing on Wednesday, making it the eighth largest in the game's history and the 11th-biggest lottery prize ever in the United States.
 
The jackpot amount has now rolled over 22 times since it was reset to its starting sum of $40 million for a drawing back on May 11, lottery officials said.
 
The Powerball game, based on lottery tickets sold for $2 apiece, is played in 44 states as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
 
A winning ticket consisting of all six numbers drawn on Wednesday night will be worth an estimated payout of $422 million if spread over 30 years, or the winner may opt for a lump-sum payment of 291.8 million before federal taxes.
 
The Wednesday draw comes about 2-1/2 months after a $429.6 million winning Powerball ticket was sold in New Jersey and two weeks after a $540 million Mega Millions lottery jackpot was clinched in Indiana.
 
Those two prizes ranked as the ninth- and seventh-largest in U.S. lottery history, respectively.
 
The largest all-time biggest lottery prize offered in North America was a Powerball jackpot worth nearly $1.6 billion for winning tickets sold in California, Tennessee and Florida in January of this year.
 
A couple who bought the winning California ticket in that draw came forward just last week to claim their $528 million share of the prize.
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Iron ore price jumps on China anti-dumping move www.mining.com

The import price of 62% Fe content ore at the port of Tianjin jumped 3% to $57.40 per dry metric tonne on Tuesday according to data supplied by The Steel Index after Chinese iron ore miners asked for an investigation into Brazilian and Australian producers flooding the market.
 
Reuters reports that more than 20 miners in a statement published on the Metallurgical Miners' Association of China website asked for an investigation into top producers of the steelmaking raw material including Brazil's Vale and Australia's Rio Tinto and BHP Billiton.
 
Australia is forecast to increase its global market share from 54% in 2015 to 58% in 2017, while Brazil’s share is forecast to increase from 26% in 2015 to 28% in 2017 according to Australian government figures. At the current rate could top the 1 billion tonnes per year mark in 2016 for the first time.
 
Hundreds of domestic Chinese miners struggling with low grade and high costs have been forced to halt operations according to the association:
 
"The capacity of major iron ore miners has continued to grow and requires a massive Chinese market to absorb their great excess," the statement posted on Tuesday said.
 
"Vale, Rio Tinto and BHP Billiton which have dominated global iron ore trade have defied the market and are still expanding despite prices being low since their strategy is to use low-priced dumping to crowd out higher-cost miners," the association said.
 
After more than halving since 2011 to less than 200m tonnes, Chinese iron ore output on a 62% Fe basis is forecast to fall by a another 12% in 2016 and by a further 20% in 2017.
 
The statement also mentions China's "security of steel production" and the move is also seen as retaliation against the US imposing huge anti-dumping tariffs on Chinese steel exports since May. China forges almost half the world's steel and consume three-quarters of the seaborne trade in iron ore.
 
The price of iron ore is down sharply since trading just short of the $70 mark in mid-April but year to date the price is up by a third and has surged 55% since hitting near-decade lows in December. Year to date iron ore is averaging $52.20 (the price averaged $55 last year) and volatility has reduced markedly since Beijing's clampdown on speculation on futures markets inside the country.
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Dalian plant to help Intel tap China demand www.chinadaily.com

Intel Corp's upgraded chip factory in Dalian, Liaoning province, will help it better tap into China's growing demand for memory chips, but the United States giant needs to be wary of rising competition from local rivals, as the country speeds up efforts to reduce its reliance on foreign technology, experts said.
 
The Dalian plant, in which Intel said it would invest $5.5 billion, has been converted to produce advanced memory chips such as 3D NAND chips, which can store data without using power and be widely used in smartphones and tablets.
 
Roger Sheng, research director at consultancy Gartner Inc, said as an increasing number of consumers prefer digital devices with bigger storage capacities, the supply of 3D NAND chips is currently failing to catch up with the growing demand.
 
"The Dalian plant will give Intel an upper hand in pouncing at the strategic opportunity," Sheng said.
 
"Mass production of 3D NAND chips will help lower the cost and promote the development of the global semiconductor industry."
 
Intel said the Dalian facility has formally gone into operation late in the second quarter of the year, ahead of schedule. It was one of the largest investments made by Intel in China and part of its efforts to seek new revenue streams while its main PC chip business faltered.
 
The company did not disclose the plant's annual production capacity.
 
Intel's move came as chips are becoming national strategic assets almost as valuable as oil. Researcher TrendForce estimated China consumed $6.67 billion worth of NAND chips in 2015, or 29 percent of global NAND industry revenue.
 
Fu Liang, an independent industry expert, said Intel will need to fight off competitions from local players, as China is ramping up resources to cultivate homegrown chip giants.
 
China's largest chipmaker Tsinghua Unigroup Ltd said earlier it will invest $30 billion into making memory chips.
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Japanese minimum wage sees largest rise since 2002 www3.nhk.or.jp

Negotiators in Japanese wage talks have agreed to raise minimum pay levels this fiscal year by the largest margin since 2002.
 
A labor ministry panel says the agreement between representatives of workers and management will see the minimum wage rise by 24 yen to 822 yen an hour. That's about 7 dollars and 84 cents. The current rate is about 7 dollars and 61 cents.
 
The panel indicates a national standard increase each year, although actual minimums vary depending on region. Local authorities are due to set their minimum wages by fall, based on the national standard.
 
Prime Minister Shinzo Abe wants the level eventually to reach 1,000 yen, or about 9.5 dollars, after a 3-percent increase each year.
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Apple sees iPhone sales drop again but beats forecasts www.bbc.com

Apple has reported a second consecutive quarter of falling iPhone sales, but the 15% drop was not as bad as analysts had feared.
The US tech giant sold 40.4 million iPhones in its third quarter, slightly above forecasts of 40.02 million.
Apple chief executive Tim Cook said the results reflected "stronger customer demand... than we anticipated".
The firm said it expected sales to fall again in the fourth quarter to between $45.5bn (£34bn; €41.4bn) and $47.5bn.
Demand for Apple's flagship product has been slowing since the second quarter when the firm reported the first drop in iPhone sales since their 2007 launch.
The iPhone makes up for around two-thirds of Apple's sales and accounts for even more of its profits.
The slowdown in iPhone sales sent profit down 27% to $7.8bn in the three months to 25 June, while revenues fell 14.6% to $42.4bn.
Apple's sales in Greater China - defined by the company as China, Hong Kong and Taiwan - plunged 33%.
The firm blamed economic uncertainty and people not upgrading their phones as often for the drop.
China accounts for almost a quarter of Apple's sales, more than all of Europe combined.
"It is very clear that there are some signs of economic slowdown in China, and we will have to work through them.
"We understand China well and we remain very, very optimistic about the future there," said Apple chief financial officer Luca Maestri.
Apple shares surge
Results were also hit by the impact of a stronger dollar.
Nonetheless, shares, which have fallen almost 20% over the past year, rose over 7% in after-hours trading because the firm's overall performance was not as bad as analysts had expected.
Mr Maestri said comparisons to the second quarter last year, when iPhone 6 sales surged 35%, made its performance seem worse than it was.
He also pointed to its services business, which includes the App Store, Apple Pay, iCloud and other services, as a bright spot.
The division made nearly $6bn in revenue, up 18.9% from the same time last year, and is now the firm's second-largest sales generator after the iPhone.
The shift is good news for the firm because it allows it to make more money from its existing users.
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