1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

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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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Biggest China Bank Abandons $3 Billion Zimbabwe Coal Plan www.bloomberg.com

China’s biggest bank dumped a plan to finance a $3 billion coal-fired power plant in Zimbabwe, dealing a blow to coal developers in Africa that see the Asian country as the last potential funder of their projects.
Industrial and Commercial Bank of China Ltd. told Go Clean ICBC, an ad-hoc body representing 32 environmental groups, that it won’t fund the 2,800-megawatt Sengwa coal project in northern Zimbabwe, according to a June 18 email seen by Bloomberg that was sent to 350.org, one of the Go Clean groups. ICBC didn’t immediately respond to a request for comment.
Western and South African banks have come under increasing pressure from their shareholders not to fund developments that could contribute to climate change, leaving Chinese lenders as one of the last avenues to secure finance. That door may now be closing, should China plan to improve its own environment credentials.
“This is highly significant, obviously for Zimbabwe but also for Chinese overseas energy financing,” said Lauri Myllyvirta, lead analyst for the Centre for Research on Energy and Clean Air. “It is the first time, to my knowledge, that a Chinese bank has pro-actively walked away from a coal-power project.”
The Sengwa project was being developed by RioEnergy Ltd., a unit of RioZim Ltd. RioEnergy Chairman Caleb Dengu said last year that ICBC had signed a formal notice of interest in funding the plant, to be constructed by China Gezhouba Group, while associated transmission lines would be built by Power Construction Corp. of China Ltd.
ICBC’s withdrawal marks the second time the bank’s coal-funding plans have been scrapped. A permit to build a coal-fired plant in Lamu in Kenya was canceled by the government last year.
RioZim Seals $3 Billion Zimbabwe Coal Plant Deal With China
ICBC described Sengwa as a “bad plan due to environmental problems,” 350.Org said in the email.
The Chinese lender has been under scrutiny over the environmental impact of funding coal projects and is in discussion with the coalition to “chart a clear road map to stop funding coal,” Go Clean ICBC said in the email. Nathalia Clark, the associate director of Global Communications at 350.org, declined to give further details.
The coalition had planned to roll out a global campaign last week against the lender’s coal activity, which it suspended after ICBC said it would halt engagement if it did so.
Over the past two decades, China Development Bank and the Export-Import Bank of China have funded more than $50 billion of coal projects across Asia, Europe, Africa and South America, according to research from Boston University’s Global Development Policy Center. A plan proposed last year would make it tougher for the so-called Belt and Road Initiative to finance environmentally damaging projects like coal power plants and metal smelters.
While President Xi Jinping in September put the country on a path to zero out carbon emissions by 2060, he plans to let coal consumption increase through 2026 and the fuel is expected to remain an important part of the country’s energy mix for a decade beyond that.
RioEnergy is seeking alternative financiers, a person with direct knowledge of the matter said, asking not to be identified because ICBC’s withdrawal hasn’t been formally announced. Simba Mhuriro, the general manager at RioEnergy, said he wasn’t privy to the matter and couldn’t comment. Wilson Gwatiringa, a spokesman for RioZim also declined to comment. Winston Chitando, Zimbabwe’s mines minister, said he wasn’t aware of ICBC’s decision.
Sengwa was initially owned by London-based miner Rio Tinto Group, the one-time parent of RioZim. It was set aside as Zimbabwe’s relations with the U.K., its former colonial ruler, deteriorated. After the project was revived in 2016, General Electric Co. and a unit of Blackstone Group LP didn’t pursue initial inquiries.
The backing of ICBC was seen by RioEnergy as a fresh start in a plan to develop the plant and end recurrent power outages in Zimbabwe. Climate activists say the company will struggle to find another funder.
“Opportunities to fund coal power are rapidly diminishing, given the climate and other impacts of coal,” said Robyn Hugo, director of climate change engagement at Just Share, a Cape Town-based shareholder activist group. “There is simply no basis to consider new coal-fired projects and all plans to do so are likely to be strongly opposed.”
— With assistance by Godfrey Marawanyika, Evelyn Yu, and Dan Murtaugh
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How China eliminates absolute poverty

GLOBALink | Living in China: How China eliminates absolute poverty

Source: Xinhua| 2021-06-27 19:03:41|Editor: huaxia
 
 

"What I've seen in China is, poverty alleviation is fantastic. It is not just empty words. It's a whole program. It's a government policy," says an Australian who has stayed in China for 17 years.

 

Produced by Xinhua Global Service

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On why Mongolia winning battle for China's coal market www.forpost-sz.ru

China imposed a ban on coal exports from Australia late last year. Amidst talk of reducing the carbon footprint, Canada, the US, Russia, and Indonesia expressed their interest to replace its market share. Yet, it was Mongolia that became the leader of the race. The vice president of one of the country's largest mining companies, MAK (Mongolyn Alt), spoke on where the profits from coal sales would go to.
Relations between the Middle Kingdom and Australia had been strained even before the pandemic started. The government of the latter openly criticised Chinese domestic policies — for instance, as to how they treated the Uyghurs or the Australian journalist Cheng Lei, who was detained in China a year ago. Finally, after Canberra followed Washington in demanding an "independent" investigation into the origin of the coronavirus, China interpreted the move as improper interference in its affairs. Thereupon it banned coal and copper exports.
So far, Australia's losses have been estimated at $20 bln, with experts projecting them to reach $80 bln a year. For this country, China was the second-largest importer of coal after Japan. Australia, in turn, was the largest supplier to China, providing it with 70 mln tonnes of coal annually. By comparison, Russia exported less than 40 mln tonnes in 2020. China imported 304 mln tonnes of the raw material last year altogether.
Everything changed as a result of the confrontation between the two states.
Let us take coking coal – essential for use in steel manufacture – as an example. In the first quarter of 2021, the volumes of shipments from Canada and the US reached their highest levels since 2013. Canada's exports grew to 1.3 mln tonnes in March, thus doubling year-on-year. As for America, it increased its supplies almost fivefold, to 663 thousand tonnes, in the same period. Additionally, Russian companies shipped 1.4 mln tonnes of coking coal to China in January–March, thereby increasing the supplies by 8.3%.
Mongolia was the quickest to act upon the situation, though. The country shipped 2.17 mln tonnes in March and 6.08 mln tonnes in the first quarter, a 123% year-on-year increase in exports. Therefore it became the primary contender for the top spot amongst the exporting countries. However, is it at all surprising?
"China accounts for more than 50% of global coal consumption, and our country is the closest neighbour to this enormous energy market. 250 km from the Chinese border, there is one of the world's largest coal deposits, Tavan Tolgoi, with an estimated resource of almost 6.5 bln tonnes. About 40% of that is high-calorific coking coal. This raw material owes its current growth in exports to an increasing number of dump trucks. When we had a spike in COVID-19 cases this spring, truck drivers, who transported the raw material, were the first to be vaccinated against the coronavirus. Still, this is not an option if we want a large-scale increase in supply.
The main issue is that Mongolia's transport system is in principle unable to deliver more coal to the border with China. And because we cannot transport larger quantities, it constrains the full-fledged development of the deposit. The single-track railway allowing for a maximum of eight freight trains travelling over it at a time is clearly not enough to increase export volumes. Hence the top-priority task for the government is now to build a new railway line of about 400 km and a power plant," says Gantulga Ganbayar, Vice President at MAK.
The Tavan Tolgoi–Züünbayan railway is currently under active construction. It is expected that the works will be completed in 2022. The authorities are also looking into leasing port areas in Russia.
"MAK was established in 1993 as a gold-mining company. But in the early 90s, a strategic decision to diversify the business and expand into coal mining was made by the conglomerate's executives. Back then, it was already evident that energy would become a highly topical issue. We have several mining-engineering universities in my country, but there is a particular need for qualified generalists. Russian education is still of high value here, so the company announced a competition, the winners of which could leave to study at St. Petersburg Mining University. The choice of a university is hardly coincidental. Both Punsalmaagiin Ochirbat, the first president of Mongolia, and Nyamtaishir Byambaa, founder of MAK, graduated from Mining University," recalls Gantulga Ganbayar.
His uncle also studied at Mining University and suggested that he participate in the contest, Gantulga notes. Since he got a high score on the tests, he was admitted to the Department of Mine Surveying.
"I am fortunate to have been a student of the programme where I learnt a lot beyond the basics. In addition to field-specific disciplines, we were also taught economics, as well as numerous other subjects. I interned at Boroo Gold, a subsidiary of OZD Group, and Erdenet Mining Corporation, Mongolia's largest mine and mill. Mining University's students have excellent technical competencies. Accordingly, they quickly move up the career ladder, advancing to either managerial positions or becoming in-demand field experts. MAK chooses the most talented high-school graduates every year and sponsors their education at Mining University. Due to the nature of my job, I often meet foreign partners and take part in various international events, and I have always felt that my professional skills are up to global standards," admits Gantulga Ganbayar.
After graduating, Gantulga returned to his home country and took a job as a surveyor in the technical-engineering department of MAK. He was responsible for performing surveying activities at all of the company's mines. Two years from then, his main line of work was to take care of coal mines. Afterwards, he was promoted first to mining engineer with 150 subordinates, then chief engineer managing 600 employees, deputy director and director of the department, before finally becoming vice president.
"Mining is one of the dominant industries in Mongolia. Coal makes up about 40% of our exports, plus we have copper and molybdenum. Coal also accounts for 90% of Mongolia's total domestic energy consumption, with wind and solar power accounting for the remaining 10%. This explains why all mining-related specialities are of high prestige here, even though globally, there is a lot of controversy surrounding coal usage. At the US-hosted Leaders Summit on Climat, which took place in April, dozens of countries and organisations talked about green energy and reducing emissions. In fact, even China promised to limit coal consumption. It pledged to achieve peak emissions of CO2 before 2030 and reach carbon neutrality by 2060. Of course, we understand that this is the direction the world is headed in. Still, we are sure that the consumption of fossil fuels will last for at least several decades more. Our company is currently upgrading its coal facilities and developing the rest of its assets with the money earned from coal sales," says Mining University's graduate
Gantulga Ganbayar was appointed vice president two years ago. Since then, he has been developing MAK's new business area — sales of construction products, such as concrete, cement, and others. These goods are mostly made from limestone, which the company extracts itself. Aside from this rock, MAK is involved in mining lignite, hard and coking coal, copper-molybdenum ores, and gold prospecting.
A new coal preparation plant is being built in Mongolia, with the project completion date set for the end of this year. Modern, sophisticated technologies will be used at the plant, by taking advantage of which the sulphur content of coal will be lowered to 0.85% and the ash content to 18%. This will help reduce the overall level of air pollution.
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Mongolia refinances its USD 1 billion Chinggis and Gerege debts with low interest bonds www.montsame.mn

On June 29, Tuesday, Minister of Finance B.Javkhlan delivered a presentation on the liability management taken by the government of Mongolia to refinance its bonds – Chinggis and Gerege maturing in 2022 and 2023 respectively – at all-time low interest rates.
In September 2020, the government of Mongolia issued a ‘Nomad’ sovereign bond and raised USD 600 million on international stock markets, by taking advantage of the favorable indicators of the international markets at that time. Now, the government has taken the debt management measure as part of its project named ‘Century’ to refinance a total of MNT 1 billion debts from the Chinggis and Gerege sovereign bonds, which were growing closer to their maturity dates, at historic low interest rates, according to the Ministry of Finance.
Mongolia issued 5.125%, USD 1 billion and 10-year Chinggis bond during the peak of its economic growth in 2012 when Mongolia’s economic growth rose to up to 17.3 percent and the country’s credit rating was already two levels’ higher than the current rating and the bond was set to mature in 2022.
“This time with the country’s economy has shown 5.3 percent contraction and credit rating was at B level by 2020 amid the pandemic, we have successfully implemented liability management to pay off USD 1 billion that were reaching maturity in the next 2 years through debt refinancing for a USD 500 million bond with 6-year term and 3.5 percent interest, and another USD 500 million with 10-year term and 4.45 interest as part of the ‘Century’ project,” stated in the Finance Ministry’s press release.
“Successfully refinancing Mongolia’s sovereign bonds with the lowest rates of 3.5 and 4.45 percent compared to those of other countries with the same B credit rating is a result of the Mongolian government’s effective policy response and measures to protect the population’s health and recover the economy during the pandemic and shows international investors’ high confidence in the political and economic stability of Mongolia”.
The Finance Ministry reports that the liability management – the debt refinancing to replace high-interest bonds with low-interest bonds - will help reducing the burden to be imposed on the government’s budget and balance of payment in coming years and maintain currency stability while improving Mongolia’s credit rating.
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Steppe Gold receives approval for the cross-listing on Mongolian Stock Exchange www.montsame.mn

Steppe Gold Ltd., Mongolia’s premier precious metals company, announced on June 24 that it has received the approval from the Financial Regulatory Commission of Mongolia in relation to its proposed cross-listing on the Mongolian Stock Exchange.
Regarding the approval, Bataa Tumur-Ochir, President and CEO of Steppe Gold, commented, “On behalf of our shareholders and colleagues, I would like to extend my gratitude towards the authorities of the Financial Regulatory Commission and the MSE for considering our request and supporting our vision. Steppe Gold quickly positioned itself as Mongolia’s leading gold producer and we are excited to attract more Mongolian retail investors and institutions in the growth of our exciting and growing portfolio of precious metal assets.
Steppe Gold already has over 20% of its shares owned by Mongolian investors and, with this move, we are reaffirming our commitment to enable more Mongolians to share in the success of Steppe Gold.
Steppe Gold has built a strong reputation regarding community engagement, investment on the education of Mongolian youths, local development support, job creation, and responsible mining. This cross-listing is aligned with our goal to make an important contribution to not only Mongolia’s economy, but also Mongolia’s stock market”.
The Company will raise MNT 5 billion by issuing a total 1,111,110 common shares at a fixed price.
Proceeds of this placement will be used for Phase 2 expansion at the Company’s ATO Gold Mine.
Five independent analysts forecasted the share price to reach CAD 4.09.
Ard Securities, a lead advisor and underwriter, is working on the listing with Snow Hill Consultancy providing legal consulting, DRA Americas Incorporated – technical consulting, and MNP Audit – financial consulting services respectively.
Amarbayasgalan Enkhsaikhan, Executive Chairman of Ard Securities and Head of Investment Banking at its parent, Ard Financial Group, noted, “We are delighted to be working with Steppe Gold on the cross-listing of its shares on the MSE. We are witnessing an increased interest from Mongolia’s growing retail investor base and they are excited to participate in the success of a home-grown mining company with a demonstrated success story.”
Ard Securities is a fully licensed Mongolian investment advisory firm that offers brokerage and financial advisory services. Ard Securities has led the market with 40 percent secondary trading volume on MSE in the past two years. Its parent, Ard Financial Group, leads the Investor Nation initiative which aims to increase access to capital markets to ordinary Mongolians.
In 2020, Ard Securities has successfully underwritten and closed the funding for the country’s first ever closed-end fund on MSE, National Privatization Fund, bringing the total listed companies managed by the Group to 5: Ard Financial Group JSC, Ard Insurance JSC, Ard Credit NBFI JSC, Mongol Post JSC, National Privatization Fund.
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2,246 new cases of COVID-19 reported, total reaches 114,565 www.montsame.mn

At the regular press briefing of the Ministry of Health for today on June 30, it was reported that 2,246 new cases were detected in Mongolia. More specifically, 1,345 new cases were detected in the capital city, with 901 cases in aimags.
As of today, the total number of COVID-19 confirmed cases in Mongolia now stands at 114,565.
Furthermore, 15 COVID-19 related deaths have been also reported, raising the country’s death toll to 563. In the past 24 hours, 2,825 patients made recovery, bringing the total recoveries to 78,654.
Of the 14,131 patients currently undergoing treatment, there are 9,502 patients in mild, 3,143 in serious, 1,237 in critical, and 239 in very critical condition.
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USD 100 million for Mongolia’s urban transport projects www.news.mn

The World Bank has approved a USD 100-million loan to support a sustainable urban transport project in the Mongolian capital of Ulaanbaatar, the bank’s office in Mongolia said Thursday.
The project is aimed at developing a comprehensive framework for sustainable urban mobility for Ulaanbaatar and reducing congestion, improving road safety, and addressing climate resilience on selected transport corridors, the office added.
“Improving traffic conditions in Ulaanbaatar has become a top priority for the municipality and the Mongolian government, and the World Bank is pleased to be providing support in this area through its expertise and financial resources,” said Andrei Mikhnev, World Bank country manager for Mongolia.
In Ulaanbaatar, home to around half of the country’s 3.3 million population, travel demand has been increasing amid rapid urbanization.
The city’s current 1,100-km-long street network is sparse and disconnected, while traffic management and road safety facilities are insufficient, causing delays, traffic accidents, and congestion, according to the bank. Poor public transport services and vulnerability to natural hazards such as flooding are affecting residents’ livelihoods and disproportionately hurting vulnerable and low-income population.
The project is expected to finance street network infrastructure for selected transport corridors as well as better integrated public transport systems. This includes road reconfiguration, rehabilitation, and construction on selected priority corridors, upgrading bus management systems and improvements of bus stops, and installation of intelligent transport systems and smart parking management systems across the city, said the bank.
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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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