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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Wall Street to kick out Chinese telecom giants www.bbc.com

China Mobile, China Telecom and China Unicom Hong Kong have all been targeted by the Trump administration.
Shares in the telecoms giants will be suspended on the NYSE next week while proceedings to delist them have begun.
The companies earn all of their revenue in China and have no significant presence in the US.
The delisting is seen more as a symbolic blow amid heightened geo-political tensions between the US and China.
The three firms' shares are thinly traded in the US compared to their primary listings in Hong Kong. The state-owned companies dominate the telecoms industry in China.
President Donald Trump signed an order in November barring American investments in Chinese firms owned or controlled by the military.
The order prohibited US investors from buying and selling shares in a list of Chinese companies designated by the Pentagon as having military ties.
Mr Trump has targeted a number of Chinese companies including TikTok, Huawei and Tencent on the grounds of national security.
China responded with its own blacklist of US companies as tensions between the economic giants escalate.
The shares of China Mobile, China Telecom and China Unicom Hong Kong will be suspended from trading between 7 and 11 January, the NYSE confirmed.
Chinese companies during the past decade to list their shares on their stock markets.
There are currently more than 200 Chinese companies listed on US stock markets with a total market capitalization of $2.2tn (£1.6tn).
But as relations turned sour with the US, many Chinese firms have sought dual listings in China and Hong Kong.
Companies including Chinese e-commerce giants Alibaba and JD.Com also have listings in New York but have conducted secondary listings in Hong Kong in the past two years as the trade war between the US and China intensified.
Last month, the US House of Representatives passed a law to kick Chinese companies off US stock exchanges if they do not comply with its auditing rules.
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De-dollarization in overdrive: Russia & China boost settlements in national currencies to 25% www.rt.com

Moscow and Beijing have ramped up the share of settlements in national currencies to 25 percent this year against a modest two percent recorded seven years ago, according to the Russian Ambassador to China Andrey Denisov.
“The share of national currencies in our [trade] relations with China is steadily increasing. It has reached about a quarter through the nine months since the beginning of the year. This is quite a big progress,” the ambassador said, citing the Chinese partners.
According to Denisov, the very process of converting the mutual trade into national currencies is really challenging, but absolutely necessary under the current geopolitical conditions.
The ambassador stressed that the two nations are forced to shift to ruble and yuan due to the constant pressure put on the trading partners.
“China and Russia are not unique in this respect, a wide range of nations have to break up with the US dollar, as it is not just a financial tool, but levers of influence,” Denisov added.
The parties inked an intergovernmental agreement to switch to national currencies in bilateral trade in early 2019. Back then, Moscow and Beijing agreed to boost cross-currency settlements up to 50 percent.Earlier this year, the China Overseas Development Association reported that bilateral trade between China and Russia was expected to surpass $100 billion by the end of 2019.
Moscow and Beijing took significant steps toward eliminating the barriers that could impede the fast-developing cooperation. The two nations also announced the ambitious goal of doubling the volume of trade to $200 billion by 2024.
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Mongolia sees 21 more COVID-19 cases www.xinhuanet.com

Jan. 3 (Xinhua) -- Twenty-one more locally transmitted COVID-19 cases were recorded in Mongolia in the past 24 hours, bringing the national caseload to 1,263, the country's National Center for Communicable Diseases (NCCD) said Sunday.
"A total of 5,807 tests for COVID-19 were conducted across the country yesterday and 21 of them were positive. The latest cases were detected in the capital city Ulan Bator," said Amarjargal Ambaselmaa, head of the NCCD's Surveillance Department, at a press conference.
"The source of some confirmed cases has not yet been identified. It is not ruled out that asymptomatic patients may walk among the public," Ambaselmaa said, urging citizens to stay home, maintain good personal hygiene habits and keep social distance.
Meanwhile, 14 more patients have recovered from the disease, raising the national recoveries to 869, according to the official.
The Asian country has so far recorded one COVID-19-related death since confirming its first case of COVID-19 in March 2020. Enditem
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Mongolian central bank buys record high precious metals www.xinhuanet.com

The Mongolian central bank's purchase of precious metals hit an all-time high in 2020, the bank said Saturday.
The Bank of Mongolia purchased a total of 23 tons of precious metals, most of them gold, from legal entities and individuals in 2020, up 7.8 tons from the previous year.
Central banks across the world typically hold gold as part of their foreign exchange reserves for its historic long-term returns and high liquidity.
Mongolia's foreign exchange reserves peaked at 4.5 billion U.S. dollars at the end of 2020. The central bank aims to increase the reserves to at least 6.5 billion dollars in the medium term. Enditem
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Billionaire Friedland’s SPAC readies funds for clean-power push www.bloomberg.com

Ivanhoe Capital Acquisition Corp., the special purpose acquisition company led by billionaire mining investor Robert Friedland, is raising $200 million to invest in industries key to the global energy transition.
The SPAC plans to target companies in industries related to the “paradigm shift” away from fossil fuels, it said in a U.S. regulatory filing Wednesday. Those may range from miners to end users involved in electrification products and services, according to the filing. Friedland is a founder of Vancouver-based Ivanhoe Mines Ltd., which explores and develops mines in Africa.
The pursuit reflects a broad move among energy and raw-materials producers toward low-carbon power sources, with customers demanding less-polluting supply chains and investors seeing opportunity in products that promise to help slow global warming. U.S. President-elect Joe Biden’s administration is expected to increase the push for clean-energy infrastructure.
“The global shift away from carbon, boosted by ostensible Chinese environmental concerns as well as Biden’s recent win, is driving capital to sectors involved with or likely to benefit from the focus on green or renewable resources,” said Tai Wong, head of metal derivatives trading at BMO Capital Markets. “This focus is likely to improve supply over time.”
Those concerns have spurred growth in battery and EV makers and helped fuel a rally in metals including nickel and copper. Nickel is a key component for cathodes in electric-vehicle batteries, and Tesla Inc. Chief Executive Officer Elon Musk has expressed worry about supply due to challenges in sustainable sourcing.
“Over the past decade, the growing impact of climate change has begun to create significant urgency to manage our global carbon emissions,” Ivanhoe Capital said in the filing. Rules to limit carbon emissions, “together with the heightened focus on environmental and social governance by the private sector, has precipitated a paradigmatic shift in the global economy towards electrification.”
Ivanhoe Mines didn’t immediately comment.
The filing lists as potential objectives companies mining or processing metals necessary for electrification, such as copper, nickel and the platinum group metals, as well as battery manufacturers and producers of electric vehicles. Friedland is co-chair of Clean TeQ Holdings Ltd., the developer of the Sunrise nickel-cobalt-scandium project in Australia.
Copper, which stands to benefit from the clean-energy transformation given how much of the conduit is used in renewable sources, posted a ninth straight monthly gain on the London Metal Exchange, the longest run since 1994. Nickel recently touched the highest in more than a year. Chile, the biggest copper-producing nation, said earlier this month it would merge its mining and energy ministries, highlighting the extent to which the two sectors are becoming intertwined.
“Decarbonizaton is bullish metals,” Francisco Blanch, head of global commodities & derivatives research at Bank of America Securities, said Thursday in an interview on Bloomberg Television. “Copper goes through the eye of the decarbonization process.”
Ivanhoe Capital said in the filing that, based on McKinsey & Co. estimates, global electricity consumption will double by 2050, led by the electrification of transport and buildings. Also, according to Morgan Stanley, electrification, together with other decarbonization technologies, will require $50 trillion of investment over the next 30 years.
The emergence of special purpose acquisition vehicles helped lift equity issuance to new heights, while SPACs have raised the most money on record. David Hermer, head of global debt and equity capital markets at Credit Suisse Group AG, calculated that SPACs represent more than half the initial public offering market in the U.S.
(By Joe Richter and Yvonne Yue Li)
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Russia ready to trial combined AstraZeneca, Sputnik V vaccine in Ukraine www.reuters.com

MOSCOW (Reuters) - Russia is ready to conduct clinical trials in Ukraine of a COVID-19 vaccine combining its Sputnik V with a vaccine developed by AstraZeneca together with Oxford University, the head of Russian Direct Investment Fund (RDIF) said on Saturday.
Russia’s sovereign RDIF, which is marketing the Sputnik V vaccine abroad, announced in December trials to test a combination of the AstraZeneca vaccine with the Sputnik V shot to see if this can boost the efficacy of the British drugmaker’s vaccine.
Reporting by Polina Ivanova and Andrey Ostroukh; editing by David Evans
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A frigid air mass in Mongolia may have just crushed a world record for surface air pressure www.washingtonpost.com

A brutally cold dome of high pressure across eastern Asia has produced what may be the highest barometric pressure readings ever documented on planet Earth — with an important qualifier.
At 7 a.m. local time on Tuesday, the mean sea-level pressure at Tsetsen-Uul, Mongolia, rose to 1,094.3 millibars, or 32.31 inches. The high pressure was accompanied by a bone-chilling temperature of minus-49.9 degrees (minus-45.5 Celsius).
The pressure reading at Tsetsen-Uul tops the 1,089.4 millibars observed at Tosontsengel, also in Mongolia, on Dec. 30, 2004, judged by the World Meteorological Organization to be the world pressure record for elevations above 2,461 feet (750 meters). Tosontsengel is located at an altitude of 5,658 feet (1,725 meters), and Tsetsen-Uul is at 6,325 feet (1,928 meters).
Several other stations near Tsetsen-Uul reported extremely high pressure values, including 1,091.9 millibars at Tosontsengel.
Pressure is a measurement of the weight of the air over a given area. High pressure promotes sinking air and calm weather, whereas low pressure is generally associated with rising air and stormy conditions.
The World Meteorological Organization maintains two altitude categories for high-pressure records, because there is inherent uncertainty in the formulas used to convert air pressure measured at high-altitude stations to a sea-level equivalent.
Air pressure normally drops as you climb in altitude. To produce weather maps that reflect the ebb and flow of weather features, rather than this elevation effect, locally observed readings are routinely converted to mean sea-level pressure values.
For elevations below 2,461 feet, the current titleholder is Agata, Russia, where a pressure of 1,083.8 millibars was recorded at the center of a huge dome of high pressure on Dec. 31, 1968. The Siberian hamlet sits at an elevation of 856 feet (261 meters).
The highest pressures on record for most U.S. cities are between 1,045 and 1,060 millibars, according to a website maintained by David Roth of the National Weather Service. The contiguous-U.S. record is 1,064 millibars, recorded on Christmas Eve 1983 in Miles City, Mont., during a historic cold wave that engulfed most of the nation.
AD
The full-U.S. record is 1,078.8 millibars, set in Northway, Alaska, on Jan. 31, 1989, as another historic cold wave entered North America. Canada set the North American record two days later, on Feb. 2, with 1,079.6 millibars at Dawson City, Yukon.
The most intense surface domes of high pressure occur in winter, with cold, dense air pooling near the surface. Clear skies and calm winds, especially when assisted by snow cover, can allow temperatures to dip much colder near ground level than just a few hundred feet higher, a condition known as an inversion.
Assessing the potential record
Randy Cerveny, a professor at Arizona State University who coordinates the World Meteorological Society’s evaluation of climate extremes, told Capital Weather Gang in an email that the agency will investigate the potential record from Mongolia.
The crucial factor, according to Cerveny, will be the technique used to convert the barometric reading to mean sea-level pressure. The inherent challenge is the need to assume how warm or cold the “real” atmosphere would have been in an imaginary layer between the station and sea level.
At least 15 different methods have been used around the world, and there is no global standard. The surface temperature of minus-49.9 degrees at Tsetsen-Uul was close to the reading of minus-48.6 (minus-44.8 Celsius) associated with the 2004 record at Tosontsengel. That similarity means a record is at least plausible.
“A comparison of the 2020 and 2004 events is at least like with like,” climatologist Blair Trewin of the Australian Bureau of Meteorology said in an email.
However, Trewin pointed out, the kind of intense inversions observed at high-altitude sites like Tsetsen-Uul and Tosontsengel only reflect conditions very close to the surface, rather than the actual atmosphere above the inversion or the imaginary atmosphere going down to sea level. So in principle, Trewin is dubious about high-altitude pressure records as currently calculated.
“I assume you would get even more spectacular [mean sea-level pressure] values if similar methods were applied in Antarctica,” he said.
A group of experts acknowledged this dilemma in a paper on the World Meteorological Organization’s validation of the current high-altitude record from 2004 at Tosontsengel. The paper noted that “strong surface inversions and extreme cold surface temperatures can occur in many parts of the world. Do those conditions therefore invalidate all [sea-level pressure] calculations under those conditions?”
Another spectacular pressure record was set this year, at midnight on Jan. 19-20, when the pressure at Heathrow Airport near London reached 1,049.6 millibars — the highest official value for the London area in more than 300 years of record-keeping. Because Heathrow sits less than 100 feet above sea level, there is only a minor elevation effect on its pressure readings.
Bob Henson is a meteorologist and journalist based in Boulder, Colo. His books include “The Thinking Person’s Guide to Climate Change” and “Weather on the Air: A History of Broadcast Meteorology.”
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Kincora announces gold-base metals target in Mongolia www.kincoracopper.com

Vancouver, BC - December 30th, 2020 - Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to provide an update following field season activities in Mongolia post the issuance of a mining license for the eastern portion of the Bronze Fox Intrusive Complex (“BFIC”). The primary focus of exploration was on the margin of an adjacent second large porphyry system, the Tourmaline Hills Intrusive Complex (“THIC”), at a newly identified gold-base metals target within the West Fox prospect.
Field activities have identified three new target zones and returned generally higher-grade gold and copper assay results than previous Ivanhoe Mining (“IMMI”) activities – refer to Figure 2. Other underexplored regions prospective for intermediate sulfidation epithermal targets on the margin of the THIC and BFIC have been identified for field reconnaissance.
Sam Spring, President & CEO, commented, “The previous focus of limited drilling, geophysics and surface reconnaissance by Kincora within and around the margins of the Tourmaline Hills Intrusive Complex was testing the potential for large concealed porphyry targets.
This year’s field activities at Tourmaline Hills benefitted from Kincora’s activities in the Macquarie Arc, Australia. We applied a new conceptual target model similar to the Cowal gold-base metal project (flagship project of Evolution Mining, with a 9Moz gold resource inventory) and the target of the Company’s neighbouring Fairholme project, which we are planning on drilling in 2021, located less than 15km from Cowal.
We are encouraged by the results and new targets at West Fox, and scope for further similar targets on the margins of the two large intrusions at the Bronze Fox project. We feel these results also highlight the larger picture upside to Kincora from the recently announced agreement with Resilience Mining to realise the inherent value of our Mongolian portfolio and their complementary Mongolia strategy, as we focus on our core Australian operations.”
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Cashmere, Wool, Fur & Leather 2020 online expo/face to face meetings are completed www.mongolianbusinessdatabase.com

MBD is successfully completing its first ever international online expo/face to face meeting arrangements with 16 participants from Moscow and 7 from Stavropol, Russian Federation, Mongolia and Scotland of UK.
The event was originally scheduled between Dec 05-15 but it demanded to extend till Dec 29 because of its number of face to face meeting bookings (61) and the actual arrangements among the business people. The organizers are pleased to see and estimate appx 10 business deals and cooperation will be potentially developed from the initial meetings.
Mongolian Business Database is going to host its second international online event "Agriculture, Food & Beverage" in mid of Feb 2021 and the registration will start soon.
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EU-China investment deal likely this week: officials www.reuters.com

BRUSSELS (Reuters) - China and the European Union are likely to clinch a deal this week that would give EU firms better access to the Chinese market, improve competition conditions and protect EU investment in China, European officials said on Monday.
Talks on the investment deal began in 2014, but were stuck for years as the EU said China was failing to make good on promises to lift curbs on EU investment despite a pledge to open up the world’s second largest economy.
But tensions in trade relations between the United States and China may have helped change the Chinese position and bring about a deal between Beijing and Brussels, officials said.
“The talks are about to be concluded. It’s looking good. There are only some minor details left which need to be hammered out,” an EU official with knowledge of the talks told Reuters.
“As things stand now, the political agreement between the EU and China will be sealed on Wednesday.”
Other officials close to the talks said that under the deal China would open up its manufacturing sector to EU companies, as well as construction, advertising, air transport, maritime services, telecoms and, to some extent, cloud computing.
“We get much better market access and the protection of our investments in China. Better market access is something we have been working for for many years, and the Chinese have made quite a big step towards us,” a senior EU official said.
Talks on investment protection, however, are likely to continue next year and be concluded later, according to an agreed timeline.
If there is political agreement on the deal on Wednesday, its transposition into legal texts could take several months. Together with the ratification process, that could mean it will be about year before it is implemented, officials said.
Chinese foreign ministry spokesman Wang Wenbin told a regular news briefing on Tuesday that talks had made huge progress and that China hopes a deal can come to fruition “at an early date”.
The negotiations have been conducted by the European Commission, which handles all external trade issues for the 27-nation bloc, with the aim of getting the same access for EU firms that Chinese companies already have to the EU market.
The investment agreement also prohibits forced transfer of technologies by EU firms that establish themselves in China, and contains measures to discipline Chinese state-owned companies when it comes to competition on the Chinese market and rules on the transparency of state subsidies to Chinese enterprises.
Under the agreement, China will also pledge to subscribe to the International Labour Organisation’s rules on forced labour.
China wanted access to the EU’s energy market, but given sensitivities over national security, the Commission offered Beijing access to only a small part of the renewable energy sector, and only on a reciprocal basis, the officials said.
Ambassadors of EU governments in Brussels discussed the agreement on Monday, and no country had any major problems with it, the officials said.
Poland suggested the EU should wait to discuss the deal with the new U.S. administration of President-elect Joe Biden, they added, but other countries did not share this view.
Additional reporting by Michael Nienaber in Berlin and Yew Lun Tian in Beijing; Reporting by Jan Strupczewski; Editing by Jan Harvey
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