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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Events

Events

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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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UK govt proposes 15% corporate tax to boost post-Brexit economy www.rt.com

The UK Chancellor George Osborne is suggesting lowering the corporate tax rate to 15 percent in an effort to encourage businesses to invest in the British economy outside the European Union.Britain currently levies a 20 percent tax on business. The rate is due to be reduced to 19 percent in April and to 17 percent in 2020. A five percent tax cut might make the country one of the most competitive global economies.
 
The step is a part of a five-point plan to support the economy after Britain leaves the EU, which will spark a "do it yourself" recession in the UK, according to Osborne.“We must focus on the horizon and the journey ahead and make the most of the hand we've been dealt” the Chancellor said in an interview with the Financial Times.Osborne plans to attract investors from China, as well as to provide necessary support for bank lending and preserve the country’s fiscal credibility in order to uphold the economy in the post-Brexit era.A week before the referendum, the minister warned UK citizens he would introduce new austerity measures, including income tax rises and spending cuts, should Britain decide to leave the EU.The historic vote sent the value of the British pound to its lowest levels in decades. The financial markets initially tumbled but have since recovered. International rating agencies Fitch, Moody’s and Standard and Poor’s all downgraded the country following the decision to quit the EU.
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Business pessimism 'doubles after Brexit vote' www.bbc.com

UK business confidence has fallen sharply in the aftermath of the vote to leave the EU, research suggests.
The share of businesses that reported feeling pessimistic about the UK economy doubled in the week after the Brexit vote.
The figure jumped from 25% the week before the referendum to 49%, according to YouGov and the Centre for Economics and Business Research.
Falling confidence can lead companies to pull back on investment and hiring.
Scott Corfe, director at the CEBR, said that the figures, due to be published on Tuesday, indicated a "significant shock reaction" among UK businesses following the vote last month.
Mr Corfe told BBC Newsnight: "Businesses are clearly spooked by the referendum result and they've reined in their intentions for capital spending. They've reined in their expectations for exports and domestic sales growth.
"And business confidence is a leading indicator for where the economy is heading over the coming quarters. What it suggests is that the economy is in for quite a significant slowdown over the next three to six months."
The figures suggest that businesses have become more cautious in their outlook for sales and exports, as well as rethinking their investment plans.
'Contraction'
Business expectations for UK sales, exports and investment all dropped, according to the research. The index for capital investment plans fell from 108 in the week before the vote to 100.1. A figure above 100 indicates growth, while below 100 suggests contraction.
Expectations for exports fell from 115.3 to 99.8, suggesting falling sales overseas. Businesses that sell internationally face particular challenges given the uncertainty over the future relationship between the UK and the EU, its largest trading partner.
The slump in business confidence comes after research last week showed a marked deterioration in consumer sentiment about the economy. YouGov/CEBR said that consumer confidence had fallen back to its lowest level since May 2013.
Economists are watching measures of consumer and business confidence to gauge how uncertainty around the referendum result might affect the real economy, and whether it could prompt households to delay large purchases or companies to shelve investment plans.
"We expect this uncertainty to generate an investment-led recession as recent falls in business investment intensify," economists from Goldman Sachs wrote last week. "While assuming quite a resilient consumer, we expect weakening business investment to tip the UK into recession around the turn of the year."
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Tankan: Inflation expectations lowered www3.nhk.or.jp

The latest survey by the Bank of Japan shows businesses are anticipating a level of inflation well below the bank's target.
 
About 11,000 companies give their inflation outlook in the BOJ's quarterly Tankan survey.
 
Companies expect prices to rise an average 0.7 percent a year from now. That's down 0.1 percentage point from the April survey.
 
The firms in the survey also said they anticipate prices to increase an annual 1.1 percent 3 years from now.
 
Analysts point to a falling consumer price index and slow wage increases as factors keeping inflation expectations subdued.
 
The Bank of Japan wants to achieve a 2 percent inflation target in fiscal 2017.
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Japanese firms give advice for staff in Bangladesh www3.nhk.or.jp

Japanese firms operating in Bangladesh have advised their employees not to travel to the country after the terror attack in the capital, Dhaka.
 
Japanese electronics firm Toshiba has told employees to suspend business trips to Bangladesh until July 10th. The company has an office in Dhaka.
 
Obayashi Corporation and Shimizu Corporation are urging their Japanese workers in Bangladesh to stay in their homes. The 2 firms are building bridges for a highway connecting Dhaka and Chittagong.
 
The Fast Retailing group, which runs the Uniqlo clothing retail chain, has also told Japanese staff working for Bangladesh-based affiliates to stay in their homes.
 
A survey conducted by Japan's Foreign Ministry shows there were 243 Japanese companies operating in Bangladesh as of October last year. Labor costs in the country are relatively low.
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Australian political limbo drives dollar lower www.bbc.com

The Australian dollar weakened after the country's election over the weekend ended up too close to call, raising the prospect of a hung parliament.
The dollar started about 0.4% lower around $0.7435 but later edged back up to $0.7469 in light trading.
The benchmark ASX/S&P 200 fell in early trading on Monday before rising 0.3% following a gain in commodities.
Neither the ruling Liberal-National Coalition nor the opposition Labor parties secured an outright majority.
The result won't be decided until at least Tuesday, which is when vote-counting resumes.
The uncertainty and an increased risk of Australia having it's "AAA" credit rating cut has "dented" the country's currency, Vishnu Varathan from Mizuho Bank said.
Australia's central bank is also expected to hold fire at its policy meeting on Tuesday, analysts Capital Economics said:
"The fallout on the economy and financial markets from the uncertain outcome of the Federal election will probably be relatively mild and short-lived and is unlikely to prompt the Reserve Bank of Australia to cut interest rates from 1.75% to 1.50%.
"It is concerns over the weak outlook for inflation, not the political outlook, that will trigger a rate cut to 1.50% in August," it said in a report.
Elsewhere in Asia
Asian markets are mostly rising as traders turn their focus from the UK's decision to exit the European Union to the prospect of policymakers unleashing more easing measures to boost growth.
Japan's Nikkei 225 has also reversed earlier losses and rose 0.7% in the afternoon session. South Korea stocks are 0.4% higher.
In Greater China, the Shanghai Composite gained 1.8% and Hong Kong's Hang Seng rose 1.5%.
One stock not doing well though is Chinese property developer Vanke, which is undergoing a contested restructuring.
Its shares were suspended from trading in Shenzhen after plunging by the daily 10% limit.
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Uniqlo suspends most Bangladesh travel as attack rattles garment industry www.asia.nikkei.com

TOKYO (Reuters) -- Japan's Fast Retailing Co , owner of the Uniqlo casual-wear brand, will suspend all but critical travel to Bangladesh and has told staff there to stay home after 20 people, including seven Japanese, were killed in an attack that began late Friday.
 
Bangladesh's $26 billion garment industry has been bracing for the fallout of the killings at a Dhaka restaurant, fearing major retailers from Uniqlo to Marks and Spencer and Gap Inc could rethink their investment after the latest attack targeting foreigners.
 
Uniqlo has 10 Japanese staff in Bangladesh, one of its major production hubs outside China, and was among the first to confirm that it will tighten travel restrictions, already in place after attacks on foreigners last year.
 
A spokeswoman said all but critical travel was suspended.
 
Industry analysts have suggested brands could now consider shifting out of Bangladesh and into other, less unsettled, countries in the wider region from Cambodia to Sri Lanka. But no major producer has yet signalled official plans.
 
"There are no plans in changing any sourcing, but we are following developments closely," Sweden's H & M said in a Sunday statement echoed by other major retailers.
 
Bangladesh, one of the world's poorest countries, relies on garments for around 80 percent of its exports and for about 4 million jobs, and ranks behind only China as a supplier of clothes to developed markets like Europe and the United States.
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Volkswagen brand chief says no plans to step down despite investigation www.reuters.com

Volkswagen's (VOWG_p.DE) brand chief, Herbert Diess, is not planning to resign even though he is the subject of investigation by public prosecutors, he told a German newspaper.
 
The carmaker said late last month that prosecutors in Braunschweig were investigating Diess as part of a probe into whether Europe's carmaker violated disclosure and market manipulation rules by taking too long to inform investors it had cheated emissions tests.
 
"It's not up for debate," Diess told Sueddeutsche Zeitung in an interview published on Monday, when asked if he had thought about stepping down as a result of the probe.
 
He added the investigation had taken him by surprise and that he had first heard about it when asked by the media.
 
Volkswagen's reputation will take 12-18 months to recover from the crisis, although a strategic turnaround will take up to 14 years, Diess added.
 
The company needed to shift its strategic focus to employ more information technology and battery experts, Diess said. The shift would take "two vehicle generations" to be implemented, he said. Modern cars have a lifecycle of around seven years. "We must become more efficient, or else we won't be able to afford the transformation," he added.
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Record number of executives paid over 100 mil. yen www3.nhk.or.jp

A record total of 414 executives at publicly-traded Japanese firms were paid more than 100 million yen, or about one million dollars, in the business year that ended in March.
 
Researchers examined data from 2,443 Japanese companies.
 
The figure rose by one from last year's total. It was also the 4th consecutive annual increase, reflecting the strong financial performances of many firms.
 
The highest earner was SoftBank's former vice president Nikesh Arora with about 65 million dollars, followed by SoftBank executive Ronald Fisher with about 21 million dollars.
 
Michiyoshi Onishi, a former chairman of electronic component manufacturer Aoi Electronics, was 3rd with total compensation of around 11 million dollars.
 
The president of Nissan Motor Corporation, Carlos Ghosn, was in 4th place with about 10 million dollars.
 
Analysts say an increasing number of foreign executives are earning more than 100 million yen, as more Japanese companies are hiring foreigners to expand their business operations outside the shrinking domestic market.
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Oil extends gains, Saudi minister sees market balance www.reuters.com

Crude prices extended gains on Monday in Asia, supported by comments from the Saudi energy minister saying the oil market is heading toward balance.

London Brent crude for September delivery LCOc1 was up 17 cents at $50.52 a barrel by 2247 GMT on Sunday, after settling up 64 cents at $50.35 on Friday.

NYMEX crude for August delivery CLc1 was up 5 cents at $49.04 a barrel, after closing up 66 cents, or 1.4 percent, on Friday. There will be no West Texas Intermediate crude settlement on Monday as U.S. financial and commodity markets are closed for the Independence Day holiday.

The energy minister of Saudi Arabia, the world's largest oil exporter, and the secretary general of OPEC agree that the global oil market is heading toward a balance and that prices are starting to settle, according to comments carried by Saudi state news agency SPA.

U.S. drillers last week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the well pad since August that signaled a near-two year rout in drilling may have ended.

The Niger Delta Avengers, a militant group that has been carrying out attacks on Nigerian oil facilities in the past few months, claimed responsibility on Sunday for five new attacks in the southern energy hub since Friday.

Attacks in the Niger Delta have pushed Nigerian crude production to 30-year lows, although the Nigerian National Petroleum Corporation (NNPC) said last week that output was rising because of repairs and a fall-off in attacks.

Russian oil output stood at 10.84 million barrels per day (bpd) in June, up from 10.83 bpd in May, Energy Ministry data showed on Saturday.

Norwegian offshore oil workers and employers signed a new wage deal on Saturday, avoiding a strike that would have cut the output from western Europe's top oil and gas producer by about 6 percent, employers and unions said.

Money managers cut their net long U.S. crude futures and options positions in the week to June 28, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

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London stock exchange shareholders to vote on German deal www.bbc.com

Shareholders in the London Stock Exchange are due to vote on a planned merger with its German counterpart Deutsche Boerse.
The two agreed a $27bn (£20bn) deal earlier this year but the Brexit vote has raised questions about how it should be implemented.
Both companies have said the outcome does not affect the logic of the deal.
However Germany's regulator, Bafin, said the headquarters could not be in London, as had been planned.
"Without doubt... it is hard to imagine that the most important exchange venue in the eurozone would be steered from a headquarters outside the EU," said Felix Hufeld, Bafin's president.
"There certainly has to be an adjustment here."
It does not have a veto on the deal but it is thought that Deutsche Boerse is likely to take its concerns seriously.
In a joint statement released shortly after the UK's referendum the companies said the outcome did not affect "the compelling rationale of the merger".
In fact, the head of the Deutsche Boerse Joachim Faber said the decision made it "ever more important to maintain and foster ties between the UK and Europe".
The deal still needs to be approved by regulators and, according to Reuters news agency, any major changes to it could need further shareholder approval.
As it stands, the deal is expected to be approved later on Monday with German shareholders due to vote on it on 12 July.
The companies hope to complete the deal in early 2017.
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