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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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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World Youth and Junior Sambo Championships moved from Mongolia to Greece www.news.mn

The World Youth and Junior Sambo Championships have been moved from Mongolia to Greece because of the COVID-19 pandemic.
Ulaanbaatar, the Mongolian capital, was due to host the event but is now unable to do so because of the “difficult epidemiological situation in the country”.
The Hellenic Sambo Federation applied to take over the hosting of the event and will now stage it in Thessaloniki from October 15 to 17.
All participants will be required to take a COVID-19 test within 72 hours of arriving at the Championships.
The competition will take place in a bubble environment in a bid to protect people from infection.
Officials from the International Sambo Federation will be able to call upon the experience of the 2020 World Championships in Serbia, which went ahead under similar conditions.
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Big Tech is booming again, and the bull run appears to be far from over www.cnn.com

New York (CNN Business)So much for big tech stocks falling out of favor.
Facebook (FB) has soared almost 30% this year and Mark Zuckerberg's social media giant is now worth more than $1 trillion. It's not the only giant of the Nasdaq hitting new milestones.
Microsoft (MSFT) topped the $2 trillion valuation mark last week for the first time ever, joining Apple (AAPL) in that exclusive territory. Amazon (AMZN) and Google owner Alphabet (GOOGL), are nearing the $2 trillion mark as well.
Big techs had lagged behind other sectors earlier this year as Wall Street appeared to be betting that value stocks would finally outperform growth. But investors don't seem all that worried that tech stocks are going to slow down any time soon, despite lingering concerns about increased regulation that lawmakers in America and abroad are trying to impose.
Apple is worth $2 trillion
Apple is worth $2 trillion 01:40
All told, the so-called FAANGs (Facebook, Apple, Amazon, Netflix (NFLX) and Google) plus Microsoft and Tesla (TSLA) are now worth $9.6 trillion. That's about 25% of the total $38.4 trillion market value for all the companies in the S&P 500.
It may not be much longer before this tech septet (aka the Magnificent Seven of the Nasdaq) is worth a collective $10 trillion.
Some would argue that chip giant Nvidia (NVDA), which is now the most valuable semiconductor company in the United States, belongs in this group of high-profile techs, too. (Just call them the FAANNGs?)
Nvidia has a market valuation of just under $500 billion. So if you add it to the Nasdaq's Magnificent Seven, you're looking at eight tech companies worth about $10.1 trillion.
The case for an even longer bull market for Big Tech
This stunning run appears to be far from over.
"The big techs have longevity and can be leaders even if there are rotations into other sectors of the market," said Chad Oviatt, director of investment management at Huntington Private Bank, which owns Microsoft, Apple, Alphabet and Amazon in various funds focusing on global blue chip stocks.
Oviatt noted that with long-term bond yields remaining relatively low, the tech giants will be able to continue borrowing money at a low cost to fund future growth opportunities such as acquisitions and research and development expenses.
He added that there could be lasting consumer and business behavioral changes that will benefit many top tech companies. More people are likely to work from home, either permanently or on a hybrid schedule.
Oviatt said big techs may also get a boost from the plans in Washington to spend more on infrastructure, especially as the government looks to invest in building out wireless 5G technology.
Another strategist agreed that this clear visibility for earnings and revenue growth in the tech sector helps explain the momentum for top tech stocks.
"Tech is still a good play for many investors and a critical part of a longer term portfolio," said Jim Baird, chief investment officer of Plante Moran Financial Advisors. "We wouldn't tell people to move out of the tech sector because there are some great names there."
Baird added that he's not overly worried that investors are too late to get into big techs either, mainly because earnings are growing at a rapid enough clip to justify their stock prices. He also thinks worries about this being a top for tech stocks are misplaced, mainly because the economy and earnings have rebounded so sharply from the big pullbacks of last spring and summer.
"Valuation peaks tend to come at the end of an expansion," Baird said. "We're not there yet."
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Impact of Stimulus on Mongolian Banks www.fitchratings.com

The large and comprehensive economic stimulus launched by the Mongolian government from February 2021 has eased pressure on asset quality for the banking sector amid economic disruptions caused by measures to contain Covid-19. Fitch Ratings expects the stimulus to be the key driver of the performance and growth of the banking system’s loans in the short to medium term.Mongolia launched a MNT10 trillion programme to provide low-interest loans to corporates and individuals to support the restarting of their business activities. The amount is equivalent to about 60% of the system’s total loans at end-2020 and comes on top of other relief measures that are being deployed after the onset of the pandemic.One such measure, which is effective from 1 July 2021, will remove the negative credit history of certain eligible borrowers and aims to reduce the social and economic impact from the pandemic on the banking sector.Build-Up of Pandemic-Related Bad LoansThe problem loans (non-performing and past-due loans) of the sector’s active banks reached a peak of 18% at end-February 2021 from 14.7% at end-February 2020, before the pandemic caused widespread global disruptions.

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Mongolia reports 1,727 new COVID-19 cases, 15 more deaths www.xinhuanet.com

June 29 (Xinhua) -- Mongolia reported 1,727 new cases of COVID-19, and 15 more deaths from the virus, taking the national counts to 113,232 and 567 respectively, the country's health ministry said Tuesday.
A total of 9,085 samples were tested across the country in the past day, and the latest confirmed cases were local infections, said the ministry.
Among the total confirmed cases, 73,007 people have recovered from the disease so far.
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The HU to tour across the U.S www.montsame.mn

The HU, a Mongolian rock band, announced the schedule of its U.S. tour.
Specifically, the band will tour across 32 cities of the U.S. between September 1 and October 31.
The Hu is a band with its own music genre ‘Hunnu rock’ inspired from the ancient Mongolian empire the Hun, combining heavy metal with Mongolian musical instruments Morin khuur /horde-head fiddle/, tsuur /fife/, tovshuur and others and traditional Mongolian throat singing. Founded in 2016 by Mongolian music producer B.Dashdondog, the Hu band released their first album ‘Gereg’ in the USA in September with Eleven Seven Label Group, which reached number one in the World Albums chart by Billboard this week. This is the first time ever an album by a Mongolian band taken the top ranking on the Billboard Music chart.
In April 2019, their song “Wolf Totem” first hit the Billboard chart, ranking 22nd in the Hot Rock Songs category. At the same time, the song topped the Billboard’s chart Hard Rock Digital Song Sales thanks to the massive popularity it gained on social media platforms, while another song of the band - ‘Yuve Yuve Yu’ was ranked 7th on the same chart
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Additional funding worth over MNT 700 billion to be allocated to health sector www.montsame.mn

The Cabinet has convened irregularly today, June 29, and resolved the following issues.
At the meeting, the Cabinet discussed bills to amend laws on Fiscal Stability, 2021 Budget Framework Statement, Budget Assumptions for 2022-2023, State Budget for 2021, Budget of Social Insurance Fund for 2021 as well as other related laws, and decided to submit them to the Parliament.
According to the amendments to the state budget law, the ‘Child Money’ monthly allowance of MNT 100 thousand, which was first raised in May 2020 due to the COVID-19 situations, will be continually given to each child until the end of 2021. An additional MNT 576.0 billion will be required to grant the Child Allowance.
A total of 71.5 thousand welfare beneficiaries will continue receiving the raised pensions and benefits until the end of 2021.
Moreover, additional funding of over MNT 700 billion will be allocated to the health sector. For instance, the salaries of doctors and medical staff working in the ‘red zone’ will be raised by 50 percent, aside of increasing the cost of medicine required for the treatment of COVID-19 patients.
It is planned to grant monetary incentives of MNT 2 million to each of 13 thousand doctors and medical staff working in the ‘red zone,’ and MNT 1 million to each of 19.5 thousand workers of the health sector.
MNT 61 billion will be also spent on making reserves of essential reagents for molecular and biological analysis, diagnosing devices and antiviral drugs, MNT 110 billion -- preparing additional beds as well as MNT 3.7 billion -- the salaries of resident doctors.
Moreover, exemptions from utility bills (electricity, heating, water and waste bills) being provided to households and businesses will be extended until the end of 2021.
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Mongolia to have 9 consecutive non-working days on Naadam Festival this year www.montsame.mn

At its last week’s session dated June 23, the cabinet made a decision to organize the celebration of the forthcoming Naadam Festival – commemorating the 2230th anniversary of Foundation of the first Mongolian Statehood, 815th anniversary of the Great Mongol Empire and 100th anniversary of People’s Revolution of Mongolia - without audience and with online live translation with a view to prevent from further local transmission of COVID-19 cases.
Opening and Closing ceremonies for the Naadam Festival, wrestling, archery, horse riding and ankle bone shooting tournaments, State Grand Honorary Concert will be broadcast on TV, radio and social media channels from each of their venue throughout the public holiday.
In accordance with the law on public holiday, Mongolia celebrates the nationwide traditional Naadam Festival from July 11 to 15 for five days as a public holiday.
During the today’s irregular meeting, the cabinet issued a decision to declare the working day of July 16, Friday as a non-working day, to be compensated by making July 24, Saturday a regular working day, in order to ensure one-off bridge public holiday. As a result, a total of 9 days between July 10 and 18 will be marked as non-working days.
The June 29 cabinet session also decided to submit a revised bill on vocational education and training to the parliament.
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Rio Tinto declares force majeure at Richards Bay www.reuters.com

Rio Tinto said on Wednesday it had declared a force majeure on customer contracts at its Richards Bay Minerals project in South Africa, citing “an escalation in the security situation at the operations.”
The global miner said all mining and smelting operations at the mineral sands project have been halted.
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Rio Tinto did not give details of the security situation.
A report earlier in June in the Sydney Morning Herald said an employee at the project was killed in May, the third since 2015.
“We continue to offer our full support to the investigating authorities,” said Rio’s chief executive of Minerals, Sinead Kaufman.
“I would like to acknowledge the ongoing support of the regional and national governments and South African Police Service as we work together to ensure that we can safely resume operations,” Kaufman said in a statement on Wednesday.
Rio said the operations will cease until the security situation improves.
(By Nikhil Kurian Nainan; Editing by Sriraj Kalluvila)
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Through Foreign Eyes: former ambassadors share thoughts on CPC www.xinhuanet.com

GLOBALink | Through Foreign Eyes: former ambassadors share thoughts on CPC

Source: Xinhua| 2021-06-27 18:15:50|Editor: huaxia
 

BEIJING, June 27 (Xinhua) -- This year marks the 100th anniversary of the founding of the Communist Party of China (CPC). We invite eight former diplomatic envoys of foreign countries to share their views. How much do they know about the CPC? What do they think of CPC members? What is the secret of China's success? Click to find out.

Produced by Xinhua Global Service■

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Iron ore price up as China port stocks hit over 8-month low www.mining.com

Iron ore prices rose on Monday supported by a decline in portside stockpiles in China.
Imported iron ore stocked at Chinese ports dropped for a fourth straight week to 123.95 million tonnes as of Friday, hitting the lowest level since early October, data from SteelHome consultancy showed.
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According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $218.62 a tonne on Monday, up 0.9% from Friday’s closing.
The most-traded September iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 2.1% higher at 1,196 yuan ($185.31) a tonne, up for a fourth consecutive session. It earlier rose to 1,209.50 yuan, its strongest level since June 21.
“Weekly Australian iron ore shipments have been disappointing through June, creating a tighter global supply-demand balance – not to mention the revolving door of incidents in Brazil,” said Atilla Widnell, managing director at Navigate Commodities in Singapore.
“Iron ore and steel prices are once again rising higher … amid strong demand from the Chinese steel industry and supply issues from the largest global producers,” market analyst Fitch Solutions wrote in a note.
However, an improvement in supply and weaker consumption by downstream players at current high prices are expected to cap gains in the coming months, Fitch added.
(With files from Reuters)
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