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

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Evergrande's debt crisis is wreaking havoc on Hong Kong's stock market www.cnn.com

Hong Kong (CNN Business)Evergrande's debt crisis is continuing to unsettle investors in Asia and raising concerns about whether a potential default by the troubled Chinese conglomerate could spill over to other parts of the economy.
Shares of Evergrande Group plummeted 10% in Hong Kong on Monday, hitting just 2.28 Hong Kong dollars ($0.29) per share. The stock has shed 84% so far this year, plunging below its 2009 IPO price of 3.5 Hong Kong dollars ($0.45).
The Hang Seng Index (HSI) on Monday dropped 3.3%, suffering its worst decline in nearly two months, as Chinese banks, insurers and other real estate companies were slammed.
Evergrande is facing a few critical deadlines this week. It was supposed to repay interest on some bank loans on Monday, according to Bloomberg. The news outlet recently reported that Chinese authorities have told major banks that they won't receive those payments.
Evergrande did not immediately respond to a request from CNN Business for comment about those payments.
And interest payments totaling more than $100 million are due later this week on two of the company's bonds, according to data provider Refinitiv.
But it's not clear how much — if any — of those debt obligations Evergrande will be able to meet. The group is China's most indebted developer, with more than $300 billion worth of liabilities. Over the last few weeks, it's warned investors of cash flow issues, saying that it could default if it's unable to raise money quickly.
Evergrande's debt burden is so large that analysts have warned that risks could spread throughout China. The company holds about 6.5% of the total debt held by China's property sector, according to an estimate by UBS.
The Hang Seng Property Index, which tracks major developers listed in the city, sank 6.7%, hitting its lowest level since May 2016. The chill might have been exacerbated by a Reuters report late Friday afternoon, which cited anonymous sources as saying that Beijing has called on Hong Kong's powerful property tycoons to pour resources and influence into backing Beijing's interests.
Hong Kong developers New World Development (NDVLY) and Chinese Estates Holdings, well known as Evergrande's long-time allies that often supported the company by buying its bonds or part of its stakes, fell 12.3% and 8.5%, respectively. Another Chinese property developer, Country Garden, lost more than 6%.
The sell-off spread to shares of Chinese banks and insurance companies. Ping An Insurance — the country's largest insurer and one of its biggest property investors — slid nearly 6% on Monday to its lowest level since 2017. The heavy losses came even though Ping An said Friday that the company has "zero exposure" to Evergrande, while risks to its other property investments were "controllable," according to Chinese state media.
Mainland Chinese stock and bond markets were shut Monday for a public holiday and will reopen on Wednesday.
Goldman Sachs analysts warned of "rising risks" from the Chinese property market.
"Concerns over Evergrande are rising and signs of financing difficulties spreading to other developers are emerging," they said in a research report published Sunday night. The Chinese government needs to "carefully manage" Evergrande's potential default or restructuring, while delivering a clear message to help "shore up confidence and to stop the spillover effect," they said.
Evergrande has about 200,000 employees, raked in more than $110 billion in sales last year and has more than 1,300 developments, according to the company. Its huge liabilities are widely held by financial institutions, retail investors, homebuyers and suppliers in the construction, materials and design industries.
Trouble at the heavily indebted property giant has been brewing for the past year. In August 2020, Beijing began containing the property sector's excessive borrowing in an attempt to prevent the housing market from overheating and to curb debt growth.
Evergrade's liquidity crisis has intensified in recent weeks, triggering a further plunge in the company's stocks and bonds.
Early last week, the Chinese media outlet Caixin reported that several hundred people who had invested in an Evergrande wealth management product surrounded the company's Shenzhen headquarters, demanding their money back.
They also questioned a senior Evergrande executive, who they claimed had redeemed his investment several months ago, suggesting that he had known the extent of the company's problems before telling investors.
The company on Friday warned that six of its executives could face "severe punishments" for cashing out early on the wealth management product. On Saturday, the company said it would start repaying its wealth management investors with real estate.
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Speaker meets the Asia Foundation President www.montsame.mn

Delegation led by Speaker of the State Great Khural G.Zandanshatar is paying a working visit to San Francisco, the U.S. The Speaker visited the Asia Foundation headquarter and held a meeting with the Asia Foundation President and CEO David Arnold.
The Asia Foundation President David Arnold expressed his delight with the meeting and highlighted the attention that the foundation is paying in the direction of expanding the scope of projects and programs in Asia, as well as increasing the number of countries that support and donate to the foundation’s activities.
The meeting was attended by MPs T.Aubakir, Kh.Bulgantuya, J.Munkhbat, B.Saranchimeg, Ts.Tserenpuntsag, the Asia Foundation's Senior Vice President of Programs Gordon Hein, Vice President of Global Communications Amy Ovalle and other officials. The sides discussed a wide range of issues, including Mongolia's democratic achievements and challenges, reports Press and Public Relations Department of the State Great Khural.
The Asia Foundation has been working to strengthen democracy, reduce corruption, advance climate change mitigation effort, and increase gender equality in Mongolia since 1993.
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Eastern promises: Russia & ASEAN unveil plan for economic cooperation www.rt.com

Russia and the Association of Southeast Asian Nations (ASEAN) have adopted a roadmap for boosting mutual trade and investment cooperation for the next five years, Russia’s Ministry of Economic Development announced.
“The pandemic has demonstrated that we can overcome the crisis only by means of scaling up cooperation in three key areas – trade and investment, digital economy, and sustainable development,” the ministry’s press service reported, citing Deputy Minister Vladimir Ilyichev.
According to the official, despite the Covid-19 pandemic, investments in joint Russia-ASEAN projects saw more than a threefold increase in 2020 compared to 2019, reaching $8.8 billion.
Ilyichev said that both ASEAN member states and Russia need to modernize their respective economic models to ensure more efficient cooperation. Also, he stressed that Russia sees great potential in joint work on climate-related projects under the plan.
According to the ministry, cooperation between the Eurasian Economic Union (EAEU), of which Russia is a member state, and ASEAN will also see changes in the near future.
“The sides (ASEAN and EAEU) agreed to draft a number of initiatives in the areas of the development of the single-window systems, e-trade, intellectual property protection, as well as the use of sanitary and phytosanitary measures,” the ministry said.
At the Eastern Economic Forum in Russia’s Vladivostok earlier this month, a proposal was unveiled to establish a free-trade zone between ASEAN and the EAEU in order to boost regional cooperation further.
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Prime Minister L.Oyun-Erdene: The government will continue to keep its policy on health protection and economic recovery www.montsame.mn

The ‘Green Days of Autumn - Domestic Production 2021’ fair is taking place at the Central Stadium from September 16 to 23.
Alongside food producers, small and medium enterprises, business owners in the light industry, and scholars and researchers that introduced new technology in production are participating in the fair this year.
On September 19, Prime Minister L.Oyun-Erdene visited the fair to meet with vegetable farmers and producers.
Noting that their sales have increased as the fair began to take place, they highlighted the issue of insufficient storage that meets the appropriate standard to store their harvests. In turn, the Prime Minister expressed that the government’s current policy is to fully meet the demand for potatoes and vegetables with domestic supply.
He said, “Our country is expected to meet 100 percent of the domestic demand for wheat and potatoes, and 60 percent of the demand for vegetables. As our annual demand for wheat is about 310 thousand tons, we are expected to have around 200 thousand tons more of wheat this year. Thus, the government will keep a policy on supporting exports and pay attention to the construction of storages and winter greenhouses.
Alongside the sales of fresh harvest and top products as well as food production services, all kinds of information is being provided to support the sector’s development. Furthermore, business negotiations and agreements are being made between entities and government organizations during the fair. Disinfection and sterilization is being carried out at the fair two times throughout the day.
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Mongolia confirms 2,851 new daily cases of coronavirus, 11 deaths www.akipress.com

Mongolia confirmed 2,851 new daily cases of coronavirus infection, the country's Ministry of Health said.
1,683 cases were recorded in Ulaanbaatar, the remaining 1,168 cases were detected in the regions, and 3 cases were imported.
The total number of confirmed cases of coronavirus infection nationwide has increased to 277,997.
11 people died per day, the total number of deaths due to COVID-19 in Mongolia has increased to 1,046.
5,211 people have recovered per day.
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Bank of China: Beijing to steadily expand cross-border use of yuan in 2021 www.rt.com

China is planning to “steadily and prudently” promote internationalization of its currency, the yuan, the country’s central bank said, pledging to strengthen the monitoring of cross-border capital flows and prevent systemic risks.
According to the regulator, the Regional Comprehensive Economic Partnership (RCEP) agreement is expected to further boost trade ties between the nations in the Asia-Pacific region, thus promoting more opportunities for the use of the yuan in mutual settlements and investment activities.
The pact was clinched in late 2020 at a virtual summit of the Association of Southeast Asian Nations hosted by Vietnam.Based on rapidly developing yuan-denominated commodity trade settlements, the Chinese government is reportedly seeking to increase the use of the currency in cross-border e-commerce.
The People’s Bank of China added that it is planning to explore more options for yuan-denominated investment and financing. The regulator will also step up currency settlement cooperation with other countries, and improve the infrastructure for settlement and clearing.
International payments made in the local currency amounted to 28.39 trillion yuan ($4.39 trillion) in 2020, surging 44.3% compared to the previous year, the regulator said. Meanwhile, cross-border settlements made in yuan reportedly accounted for 46.2% of overall international payments, hitting an all-time high.
Beijing has been trying to expand the influence of the yuan across the globe since 2009 to eliminate the reliance on the US dollar in trade and investment settlements, as well as to challenge the greenback’s status as the world’s major reserve currency.
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Uvs Lake Depression becomes Transboundary Biosphere Reserve www.montsame.mn

Man and the Biosphere (MAB) Programme of the United Nations Educational, Scientific and Cultural Organization (UNESCO) on September 15 added 20 new sites in 21 countries to the World Network of Biosphere Reserves, which now numbers 727 biosphere reserves in 131 countries, including 22 transboundary sites. The International Coordinating Council of UNESCO’s Man and the Biosphere Programme (MAB-ICC) meeting in Abuja, Nigeria, from September 13 to 17 approved these additions. Uvs Lake Depression has therefore been designated as a Transboundary Biosphere Reserve.
Situated on the border of the Russian Federation, the 335,000 ha Uvs Lake, the largest in Mongolia, is encircled by the semi-arid foothills of the southern Altay Mountains. Uvs has a flat shallow basin, which makes it a natural salt lake.
The Uvs Lake Depression, a core area of the Altay Sayan global eco-region, is part of the newly designated transboundary biosphere reserve, which extends over a vast 2,242,112.70 ha, bridging two entire biomes of the Siberian taiga and Mongolian steppes. The site provides habitat to emblematic species such as the Argali sheep, snow leopard, Altay ibex, as well as migratory birds.
The transboundary biosphere reserve brings together Uvs Nuur Basin Biosphere Reserve, on the Mongolian side, and Ubsunorskaya Kotlovina Biosphere Reserve, on the Russian side, both of which were designated in 1997.
Work to join the two biosphere reserves began in 2011 with the creation of a joint coordinating body, which carried out participatory workshops and meetings to foster transboundary nature conservation. Ten years on, this long-term cooperation allowed for the establishment of a model region straddling the two countries.
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Australia approves controversial Whitehaven coal mine expansion www.mining.com

Coal miner Whitehaven (ASX: WHC) has been granted the green light to expand its Vickery project in New South Wales despite a global push to lower carbon emissions and a historic court ruling on authorities’ obligation to children to consider environmental harm before approving coal projects.
Federal Environment Minister Sussan Ley’s decision comes just six weeks before world leaders meet for the United Nations Cop26 climate conference in Glasgow, Scotland, where Australia is being pressed to announce tougher emissions reduction targets.
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“In approving the mine, Minister Ley has turned her back on the federal court, the international scientific consensus on climate change, and the children and young people of Australia,” Ava Princi, an 18-year-old from Sydney who was one of the eight students who brought the case against the expansion, said in an emailed statement.
“Once again Sussan Ley proves she’s the minister against the environment, not for,” said Australian Greens environment spokesperson, Sarah Hanson-Young. “Expanding coal in the middle of the climate crisis is madness.”
Prime Minister Scott Morrison’s government has so far resisted international pressure to commit to net zero emissions by 2050, ruling out charging polluters by setting a price on carbon.
Vickery’s expansion approval, published Thursday, is the second coal project Ley has given her blessing to in the past two weeks and comes amid reports of large financial institutions officially withdrawing funds for the sector.
It also follows a study showing that emissions from coal mined in Australia, but exported and burned overseas, almost doubled the nation’s domestic greenhouse gas footprint in 2020.
The research by energy industry consultancy group Kayrros showed the Bowen Basin, which straddles the border between the states of New South Wales and Queensland, released an average of 1.6 million tonnes a year of methane in 2019 and 2020.
Based on government data, total emissions in Australia, the world’s biggest coal exporter, totalled 499 million tonnes in 2020.
20 more years
Whitehaven noted that 62% of 560 public submissions received were in favour of the project going ahead. It also said that Ley had attached 37 conditions to her approval.
“Against the current backdrop of record high coal prices and strong demand in seaborne markets, the company sees a continuing role for high-quality coal of the type Vickery will produce in contributing to global CO2 emissions reduction and containment efforts while simultaneously supporting economic development in our near region,” the company said.
Whitehaven says the project, approved by NSW planning authorities in August 2020, will extend the life of the mine by more than 20 years. The mine will produce mostly metallurgical coal for steel making, though it will also generate thermal coal, destined for premium export markets.
It involves the construction of an open-cut coal mine and associated on-site infrastructure situated 25km north of Gunnedah. The expansion will double coal production capacity to 10 million tonnes of both kinds of coal.
With a capital investment estimated at $498 million, the project is also expected to create 500 construction jobs and 450 positions during the operational phase.
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COVID-19: 2,777 new cases, 12 deaths reported www.montsame.mn

The Ministry of Health reported today, September 19 that 2,777 new cases of COVID-19 have been detected in the past 24 hours. More specifically, 1,357 new cases were detected in the capital city, with 1,417 cases in rural regions.
As of today, the total number of confirmed COVID-19 cases in Mongolia now stands at 275,146. In the past 24 hours 6,566 patients have made recoveries.
Furthermore, 12 new COVID-19 related deaths have been reported, raising the country’s death toll to 1035. Currently, 21,391 people are receiving hospital treatment for COVID-19 whilst 52,205 people with mild symptoms of COVID-19 are being isolated at home.
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Chinese companies to help build hydropower plant in W. Mongolia www.xinhuanet.com

Sept. 18 (Xinhua) -- Mongolia signed an agreement on Friday to build a hydropower plant in the western part of the country with Chinese companies, according to Mongolia's energy ministry.
The Power Construction Corporation of China (PowerChina), along with PowerChina Chengdu Engineering Corp Ltd, will build the Erdeneburen hydropower plant on Khovd River in the Erdeneburen soum (administrative subdivision) of Khovd province in the coming five years, with a soft loan from the Chinese government, the Ministry of Energy said in a statement.
The 90-megawatt hydropower plant is considered crucial to ensuring long-term energy supplies to western Mongolia and laying the foundation for the development of renewable energy in the region.
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