1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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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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Oil soars past $100 after Russia orders troops into Ukraine www.bbc.com

Oil prices have surged past $100 (£74) a barrel after Russian President Vladimir Putin launched a "special military operation" in the eastern Donbas region of Ukraine.
These are the highest levels seen by the international benchmark Brent crude futures in more than seven years.
Prices jumped earlier this week before cooling amid economic sanctions and moves to block a Russian gas pipeline.
Russia is the second biggest exporter of crude oil after Saudi Arabia.
It is also the world's largest natural gas exporter.
"We could see prices keeping the momentum," said Tina Teng, a markets analyst at CMC Markets.
"Investors are concerned about an even tighter supply, caused by the US sanctions on Russia to target the key supply source, the Nord Stream 2 gas pipeline," she told the BBC.
Nord Stream 2 is a 1,200km pipeline under the Baltic Sea, which will take gas from the Russian coast near St Petersburg to Lubmin in Germany.
The pipeline does not yet have an operating licence - and Germany has now put this on hold.
It took the step after Russia formally recognised two breakaway regions in eastern Ukraine, and sent troops there.
The US, UK and some of their allies have also imposed a series of sanctions on Russia in response to Mr Putin's actions against Ukraine.
The UK has frozen the assets of five banks and three Russian billionaires, who have also been hit with travel bans.
On Tuesday, Boris Johnson said these sanctions were a "first barrage" and could be extended.
"The moves by Russia suggest economic sanctions are not having any significant impact in holding off aggression," said Yeap Jun Rong, a market strategist at IG.
"With retaliation measures coming from Western powers soon, it seems that the situation may show no signs of easing," he added.
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Transportation route for iron ore and coal to be shortened by 318 km www.montsame.mn

At its regular Cabinet meeting today, Prime Minister L.Oyun-Erdene deputed related officials to commence the Zuunbayan-Khangi railway project in March and complete it in October this year.
“Specifically, last month the Procurement Agency was given a duty to make a direct contract with the project implementing entity. Accordingly, a responsible working group was set up,” told Prime Minister’s spokeswoman Ch. Bolortuya during the press briefing.
With the commissioning of this railway, the transportation route from Darkhan and Selenge regions to Zamyn-Uud-Erlian, Jinin-Hohhot-Bautou (1722 km) will be changed into Sainshand-Zuunbayan-Khangi-Mandal-Bautou (1404 km), which will shorten the distance for transporting iron ore and coal by 318km and reduce the transportation cost by USD4-8.
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Tavantolgoi-Zuunbayan railway line to open in October www.montsame.mn

At its regular meeting on February 23, the Cabinet ordered Head of the Cabinet Secretariat Ts.Nyamdorj and Minister of Finance B.Javkhlan to have MNT 47.8 billion necessary for trial operations on the Tavantolgoi-Zuunbayan railway line earmarked within the first half of March 2022 and CEO of Erdenes Tavantolgoi JSC to provide the funding. Minister of Road and Transport Development L.Khaltar was also given an order to commence the trial operations within March 2022.
There are a total of 37 licensed mineral deposits within a 30-kilometer radius along the railway line, such as Tavantolgoi coal deposit, Tsagaan Suvarga copper deposit, Kharmagtai copper and gold deposit, Manlai coal deposit, and other major deposits of gypsum, zeolite, and uranium. The Tavantolgoi-Zuunbayan rail line will help capitalize on the mineral deposits and increase the sales of mining products.
The construction of the railway line began in May 2019 and efforts are underway to open it in October 2022.
 
 
 
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Approval of new regulation on the changes to the share capital and shareholding structure of banks after IPO www.melvilledalai.com

On 28 January 2021, the Parliament of Mongolia adopted the
Law of Mongolia on Amendments to the Banking Law (the
“Banking Law Amendments”) which, among other things,
required systemically important banks to become open joint
stock companies (i.e. a publicly listed company) by 30 June
2022, and other banks to become open or closed joint stock
companies. For more information, please refer to our previous
note on the Banking Law Amendments here.
The Banking Law Amendments was adopted within the framework of banking sector reform and a number of related developments. Some of these developments, including the approval of plans of five systemic banks on how they intend to meet the new requirements by the Bank of Mongolia (the “BoM”)
and the Financial Regulatory Commission of Mongolia (the “FRC”), have occurred since the adoption of the Banking Law Amendments; and one non-systemic bank has become a publicly listed company.
Article 36.6 of the Banking Law, enacted on 28 January 2010 (the “Banking Law”), revised as per the Banking Law Amendments, provides that the BoM is to make a decision on whether to provide its approval in respect of changes to the amount and structure of shares of an influential shareholder1 and issuance of shares and other securities classified as shares.
In light of the above, on 5 October 2021, the Governor of the BoM and the Chairperson of the FRC adopted a Joint Order No.A-262/ 262 approving the Regulation on the Approval of Changes to the
Share Capital and Shareholding Structure of a Bank in the form of a Joint Stock Company (the “New Regulation”).
The New Regulation is silent as to when it will become effective. However, it is likely that it will apply after banks are registered as joint stock companies.
Please review full article on the link https://www.melvilledalai.com/publications
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Mongolian Economic Forum to be organized on April 7-8 www.montsame.mn

At its regular meeting held today, the Cabinet made a decision to organize the Mongolian Economic Forum, which has been suspended for two years due to the pandemic, under the theme ‘New Revival Policy’ on April 7-8.
“The conditions for organizing the forum have been created considering the factors such as the Government’s decision to downgrade the country’s level of heightened state of readiness from ‘Orange’ to ‘Yellow’ and high vaccination rate”, said the Deputy Minister of Economy and Development S.Narantsogt.
He further mentioned that the plans are underway to organize a series of events this year to expand the economy, accelerate the implementation of the ‘New Revival Policy’ as well as to attract foreign investors.
It was also reported that the ‘Invest Mongolia-2022' conference is scheduled to be held in September.
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Exploring policy options to support Mongolia build better and achieve sustainable development www.montsame.mn

Mongolia’s officials, economists and UN experts discussed policy options that help make Mongolia transform its economy towards more socially inclusive, resilient to future shocks and ecologically sustainable.
The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the United Nations Resident Coordinator’s Office (RCO) in Mongolia, and the Ministry of Economy and Development (MED) just kicked off a two-day national workshop on ‘Building forward better: Securing inclusive, resilient and green development in Mongolia’, to be held virtually on 21-22 February 2022.
Vice-Minister for Economy and Development, Mr Narantsogt Sanjaa highlighted in his opening remarks that the Government of Mongolia has just recently adopted its New Revival Policy that will lead Mongolia on the sustainable recovery from the enormous impact of the COVID-19 pandemic on Mongolia’s economy.
He stressed that the macroeconomic models and tools discussed at the workshop will be instrumental for the policy directions to improve the basic infrastructure and stimulate the economy, as set out in the New Revival Policy.
The discussion focused on key policy areas such as Mongolia’s medium-term policy planning, major development opportunities and challenges, and the socio-economic and environmental implications of policy options to build forward better.
UN Resident Coordinator Tapan Mishra underscored the timeliness and importance of this national workshop that came at a crucial time when the Government of Mongolia is leading their important New Revival policy.
“We welcome the Prime Minister’s recent decision to reopen the country for business, inviting investors as well as tourists to this beautiful country with tremendous economic potential,” said Tapan Mishra.
Especially in the face of the ongoing challenges that all countries encounter, such as the COVID-19 pandemic, global economic recession, and climate change, there is an urgent need for better policy coherence and integrated measures to build forward better and fulfil sustainable development goals across all three dimensions: economic, social and environmental.
At the workshop, the UN’s Under-Secretary-General and the Executive Secretary of UNESCAP, Mrs Armida Salsiah Alisjahbana emphasized the importance of having a longer-term perspective to the recovery plan that will ensure leaving no one behind, building stronger national resilience and preparedness to future crises and focusing on sustainability by a firm commitment to net-zero emission to ensure sustainable and inclusive development.
As a result of this national workshop, participants discussed policy scenarios simulated using a macroeconomic model that is based on the region-wide ESCAP macroeconomic model but tailored to Mongolia’s context and their socio-economic and environmental implications and possible incorporate in the national policy planning process. The national workshop will be followed by the technical seminar for the Ministry of Economy and Development of Mongolia to build its forecasting and policy planning capacity.
Source: UN Mongolia
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New global LNG leader could emerge this year www.rt.com

The US is on course to become the globe’s largest exporter of liquefied natural gas (LNG) in 2022, UK-based energy major Shell said in its annual LNG Market Outlook.
“LNG exports grew in 2021 despite a number of unexpected outages that dented LNG available for delivery. The US led export growth with a year-on-year increase of 24 million tons and is expected to become the world’s largest LNG exporter in 2022,” Shell said in the report published on Monday.
At the end of 2021, the US ranked only third in global LNG exports, after Australia and Qatar.
According to Shell, America has two countries to thank for its LNG export growth, as China and South Korea both saw LNG demand soar last year. In its push toward switching to cleaner energy sources, Beijing increased its import of LNG by 12 million tons (to 79 million), bypassing Japan and becoming the largest importer of LNG in the world.
“During 2021 Chinese LNG buyers signed long-term contracts for more than 20 million tons a year, signaling an ongoing role for LNG in coal-to-gas switching in powering key sectors and helping to reach its ambition to be carbon neutral by 2060,” the report stated.
LNG is also increasing its role as a backup energy carrier in the event of power outages. For instance, Brazil tripled its imports of LNG last year amid persistent droughts that led to a decrease in electricity generation at hydroelectric power plants.
Overall, Shell paints a bright future for LNG, stating that “global LNG demand is expected to cross 700 million tons a year by 2040” – 90% up from 2021 demand. Asia is expected to emerge as the main consumer as “LNG replaces higher-emissions energy sources, helping to tackle concerns over air quality and to help progress towards carbon emissions targets.”
“As countries develop lower-carbon energy systems and pursue net-zero emissions goals, focusing on cleaner forms of gas and decarbonisation measures will help LNG to remain a reliable and flexible energy source for decades to come,” Wael Sawan, head of Shell’s renewables department, said in the report.
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Ban imposed on camps near Khuvsgul Lake www.news.mn

To save the ecology of Khuvsgul Lake, Mongolia has banned establishing new tourist camps near the lake area in Khuvsgul province. Khuvsgul Lake is a popular tourist destination in Mongolia, visited by a large number of people all season.
During the past few years, the ecology of the lake has started degrading due to human intervention in the area. The residents are setting up camps on the periphery of the lake area for tourists. As a result, waste and the garbage is being strewn around these camps that has threatened the existence of the lake, which is known for its clean water. Khuvsgul holds 76.6 percent of Mongolian fresh water reserves and its water is drinkable without any treatment.
Since 1950, there have been over 50 vehicles submerged in the lake; became cancer of eco-system.
Today (23 February), a national forum on protecting Khuvsgul Lake has been held in State House of Mongolia. The two-day forum was organized under the auspice of the President U.Khurelsukh. Previously, U.Khurelsukh approved a resolution on developing eco-tourism zone around Khuvsgul Lake in 2019 when he was Prime Minister.
As for end of 2021, there are 49 tourist camps, 132 ger hotels, 15 resorts and 800 hotels which capable of receiving some 7000 tourists operating in Khuvsgul province. Over 56 thousand local tourists visited in Khuvsgul Lake in 2021.
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COVID-19: 525 cases, two deaths reported www.montsame.mn

The Ministry of Health reported today that 525 СOVID-19 cases were recorded in the last 24 hours nationwide. In detail, 293 cases were reported in Ulaanbaatar city, with 232 cases in 21 provinces.
It was also reported that two COVID-19 related death have been reported in the past 24 hours, raising the country’s death toll to 2,089. Currently, there are 3,409 people are receiving hospital treatment for COVID-19 whilst 11,429 people with mild symptoms are being treated at home. Of the total patients currently undergoing treatment at hospitals, there are 881 patients in mild, 2,185 in serious, 294 in critical, and 49 in very critical conditions.
As of today, the coverage of 1st dose has reached 69.8 percent (2,271,205), 2nd dose – 66.8 percent (2,172,533), and 3rd dose or a booster shot of COVID-19 vaccines – 31.0 percent (1,020,672) of the total population. In addition, 98,529 people (3.0 percent) have received the 4th vaccine dose.
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Ukraine-Russia tensions: Oil surges on supply fears www.bbc.com

Oil and gas prices are climbing on fears that the Ukraine-Russia crisis will disrupt supplies across the world.
The price of Brent crude, an international benchmark, reached a seven-year high of $99.38 (£73) a barrel on Tuesday.
Russia ordered troops into two rebel-held regions in Ukraine's east after it recognised them as independent states.
In London, the FTSE 100 share index opened more than 1.4% lower before regaining some ground.
Asian stock markets closed lower, and US stock exchanges were braced for losses.
The UK and several western allies have threatened sanctions on Russia, which is the second largest oil exporter after Saudi Arabia. Russia is also the world's top producer of natural gas.
Russia has said its troops will engage in "peacekeeping" in the self-declared Donetsk and Luhansk people's republics.
But the US has said calling them peacekeepers is "nonsense", and that Russia is creating a pretext for war.
The Ukraine-Russia crisis could have "substantial implications" on oil prices, which have jumped more than 10% since the start of the month, said Sue Trinh of Manulife Investment Management.
Sanctions forcing Russia to supply less crude or natural gas would have "important impact on the global economy", she added.
Maike Currie, an investment director at Fidelity International, said oil could go above $100 per barrel due to a combination of the Ukraine crisis, a cold winter in the US, and a lack of investment in oil and gas supplies around the world.
"Russia accounts for one in every 10 barrels of oil consumed globally, so it is a major player when it comes to the price of oil, and of course, it's really going to hurt consumers at the petrol pumps," she said.
There have been US and EU sanctions on Russia for a number of years, which has had a "massive impact" on the Russian economy.
Sanctions are likely to be "deepened", Ms Currie said, including sanctions on financial institutions, technology such as chips, and individuals.
Most of the oil and gas that the UK imports does not come from Russia, but if Russian supplies are constricted, wholesale prices are likely to rise around the world.
This could drive up already high inflation rates in the UK and elsewhere, economists said.
'Deep sea of red'
Share price falls worldwide suggested investors were concerned about the developments, which come as the global economy is still recovering from the impact of the coronavirus pandemic.
Japan's Nikkei 225 index closed 1.7% lower, and the Shanghai Composite fell nearly 1%.
In Berlin, the Dax opened down more than 2% and in Paris the Cac-40 dropped more than 1.5% initially, before both indexes regained some ground.
US markets are also set to open lower.
A possible war is at the forefront of investors' minds, said Song Seng Wun, an economist at CIMB Private Banking, leaving markets in a "deep sea of red".
"There are fears that freight and shipping costs, that are already at elevated levels, will climb higher because of demand-supply disruptions," he told the BBC.
Russ Mould, investment director at AJ Bell, said there had been "another big sell-off on global markets".
He said investors had been "dumping commodity producers - particularly those with exposure to either Russia or Ukraine - as well as tech and travel stocks."
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