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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Russian FM Sergey Lavrov to visit Mongolia again www.news.mn

Russia Foreign Minister Sergey Lavrov has accepted an invitation from his Mongolian counterpart, N.Enkhtaivan, to visit Ulaanbaatar.
“In conclusion, the [Mongolian foreign] minister invited me to visit Ulaanbaatar once again. I will try to make it with pleasure,” Mr Lavrov said at a joint press conference following yesterday’s talks with N.Enkhtaivan. Previously, Sergey Lavrov visited Mongolia in April, 2016.
The Russian diplomat also said that the negotiations confirmed the mutual determination to promote partnership between the two countries in all areas, without exception.
The Mongolian minister, in turn, thanked the Russian side for the friendly reception of the Mongolian delegation and expressed confidence in the further fruitful cooperation between the two countries.
Yesterday, Monday 21 September, the two ministers held talks in Moscow to discuss bilateral, regional and international cooperation, as well as to exchange views on preparations for joint events marking the upcoming celebration of the centenary of the establishment of diplomatic relations between Russia and Mongolia in 2021.
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Mongolia constructing Sports Complex for International Youth Games www.news.mn

Mongolia will host the International Youth Green Games in Ulaanbaatar in September, 2021. The main purpose of the games is to introduce through sports the United Nations ‘Sustainable Development Goals’ to the young generation who will lead the future.
To host the games, Mongolia plans to build and reconstruct some buildings and complexes such as the Technical Sports Centre, the Steppe Arena, the Water Sports Centre, the Sports Complex in Yarmag, the Buyant Ukhaa Sports Palace and the Choijin Lama Temple Museum. The Games are expected to take place in 18 locations in Ulaanbaatar.
Covering 10,000 cubic meters, the Sports Complex is under construction. This is a joint cooperation project between private enterprises and government organisations. The sports complex with have a capacity of 60,000 seats will include a fitness club.
 
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U.S.-China tensions take center stage at U.N. as Trump accuses Beijing of unleashing 'plague' www.reuters.com

NEW YORK (Reuters) - U.S. President Donald Trump told the United Nations General Assembly on Tuesday that China must be held accountable for having “unleashed” COVID-19 on the world, prompting Beijing to accuse him of “lies” and abusing the U.N. platform to provoke confrontation.
China’s President Xi Jinping struck a conciliatory tone in his pre-recorded virtual address to the General Assembly, calling for enhanced cooperation over the pandemic and stressing that China had no intention of fighting “either a Cold War or a hot war with any country.”
But China’s U.N. ambassador Zhang Jun rejected Trump’s accusations against China as “baseless” and said “lies repeated a thousand times are still lies.”
Trump and Xi, leaders of the world’s two largest economies, laid out competing visions at a time when relations have plunged to their worst level in decades, with coronavirus tensions aggravating trade and technology disputes.
Trump, facing a November re-election battle with the United States dealing with the world’s highest official number of deaths and infections from the coronavirus, focused his speech on attacking China.
He accused Beijing of allowing people to leave China in the early stages of the outbreak to infect the world while shutting down domestic travel.
“We must hold accountable the nation which unleashed this plague onto the world, China,” he said in remarks taped on Monday and delivered remotely to the General Assembly due to the pandemic.
“The Chinese government, and the World Health Organization – which is virtually controlled by China – falsely declared that there was no evidence of human-to-human transmission,” he said.
“Later, they falsely said people without symptoms would not spread the disease ... The United Nations must hold China accountable for their actions.”
The president promised to distribute a vaccine and said: “We will defeat the virus, and we will end the pandemic.”
People's Republic of China President Xi Jinping speaks during the 75th annual U.N. General Assembly, which is being held mostly virtually due to the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., September 22, 2020. United Nations/Handout via REUTERS
Xi’s address contained what appeared to be an implicit rebuke to Trump, calling for a global response to the coronavirus and a leading role for the WHO, which the U.S. president has announced plans to leave.
“We should enhance solidarity and get through this together,” he said.
“We should follow the guidance of science, give full play to the leading role of the World Health Organization and launch a joint international response ... Any attempt of politicizing the issue, or stigmatization, must be rejected.”
The WHO rejected Trump’s remarks.
“No one gov’t controls us,” its communications director, Gabby Stern tweeted, adding: “On Jan. 14 our #COVID19 technical lead told media of the potential for human-to-human transmission. Since February, our experts have publicly discussed transmission by people without symptoms or prior to symptoms.”
Russian President Vladimir Putin told the General Assembly the WHO should be strengthened to coordinate the global response to the pandemic and proposed a high-level conference on vaccine cooperation.
China has portrayed itself as the chief cheerleader for multilateralism at a time when Trump’s disregard for international cooperation has led him to quit global deals on climate and Iran, as well as the U.N. Human Rights Council and the WHO.
Xi took an apparent swipe at Trump’s “America First” policy in a statement on Monday to a meeting celebrating the U.N.’s 75th anniversary.
“No country has the right to dominate global affairs, control the destiny of others, or keep advantages in development all to itself. Even less should one be allowed to do whatever it likes and be the hegemon, bully or boss of the world. Unilateralism is a dead end,” he said.
The U.S. coronavirus death toll surpassed 200,000 on Monday, by far the highest official number of any country.
Trump also attacked China’s record on the environment, but leveled no direct criticism at Beijing over human rights.
Trump, a frequent critic of the U.N., said that if it was to be effective, it must focus on “the real problems of the world” like “terrorism, the oppression of women, forced labor, drug trafficking, human and sex trafficking, religious persecution, and the ethnic cleansing of religious minorities.”
In his U.N. address, French President Emmanuel Macron called for an international mission under U.N. auspices to visit China’s Xinjiang region to look into concerns about alleged abuses of Muslims there.
China’s envoy Zhang Jun issued a statement in response to Trump’s remarks, accusing the United States of “abusing the platform of the United Nations to provoke confrontation and create division.”
In his speech, Xi announced plans to boost China’s Paris climate accord target and called for a green revolution, just minutes after Trump blasted China for “rampant pollution.”
U.N. Secretary-General Antonio Guterres warned that the world was “moving in a very dangerous direction” with U.S.-China tensions.
“We must do everything to avoid a new Cold War,” he said. “Our world cannot afford a future where the two largest economies split the globe in a Great Fracture — each with its own trade and financial rules and Internet and artificial intelligence capacities.
“A technological and economic divide risks inevitably turning into a geo-strategic and military divide. We must avoid this at all costs.”
Reporting by Michelle Nichols in New York and Steve Holland, Arshad Mohammed and David Brunnstrom in Washington; Writing by David Brunnstrom; Editing by Mary Milliken, Howard Goller and Tom Brown
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JPMorgan & top global banks moved trillions in dirty money for oligarchs & criminal networks - ICIJ report www.rt.com

Five major banks (Bank of New York Mellon, Deutsche Bank, HSBC, JPMorgan and Standard Chartered) processed trillions of dollars of transactions identified as suspicious, a new ICIJ report reveals.
The International Consortium for Investigative Journalists (ICIJ) has released the results of an investigation based on more than 2,100 so-called suspicious activity reports (SARs) filed by banks and financial institutions with the US Department of Treasury’s Financial Crime Enforcement Network (FinCEN) between 1999 and 2017. The SARs were obtained by Buzzfeed News and shared with the ICIJ.
According to the investigative organization, the megabanks continued to profit from powerful and dangerous players even after US authorities fined the financial institutions for earlier failures to stem flows of dirty money.
The documents reveal that the US-based JPMorgan moved money for people and companies tied to the massive looting of public funds in Malaysia, Ukraine and Venezuela. The ICIJ reports that tainted transactions continued to surge through accounts at JPMorgan despite the bank’s promises to improve its money laundering controls as part of settlements it reached with US authorities in 2011, 2013 and 2014.
JPMorgan told the ICIJ that while the bank was legally prohibited from discussing clients or transactions, it has taken a “leadership role” in pursuing “proactive intelligence-led investigations” and developing “innovative techniques to help combat financial crime.”
Bank of New York Mellon, Deutsche Bank, HSBC and Standard Chartered Bank also continued to wave through suspect payments despite similar promises to government authorities. In the last decade, the banks paid billions of dollars in fines and agreed to deferred prosecution agreements over failures in their anti-money-laundering programs.
Shares of the banks fell sharply in Hong Kong on Monday after the report came out, with HSBC’s stock at one point trading at its lowest level since 1995.
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GE: Industrial giant will stop building coal-fired power plants www.bbc.com

In a dramatic reversal, one of the world's biggest makers of coal-fired power plants is to exit the market and focus on greener alternatives.
US industrial giant General Electric said it would shut or sell sites as it prioritised its renewable energy and power generation businesses.
It comes ahead of a US Presidential election in which the candidates hold starkly different views on coal.
NGO the Natural Resources Defense Council said the move was "about time".
GE has said in the past it would focus less on fossil fuels, reflecting the growing acceptance of cleaner energy sources in US power grids.
But just five years ago, it struck its biggest ever deal - paying almost £10bn for a business that produced coal-fuelled turbines.
'Attractive economics'
In a statement, the firm suggested the decision had been motivated by economics.
Russell Stokes, GE's senior vice president, said: "With the continued transformation of GE, we are focused on power generation businesses that have attractive economics and a growth trajectory.
"As we pursue this exit from the new build coal power market, we will continue to support our customers, helping them to keep their existing plants running in a cost-effective and efficient way with best-in-class technology and service expertise."
US President Donald Trump has championed "beautiful, clean coal" at a time when other developed countries are turning away from polluting fossil fuels.
In a bid to revive the struggling US industry, Mr Trump has rolled back Obama-era standards on coal emissions. But it has not stopped the decline as cheaper alternatives such as natural gas, solar and wind gain market share.
GE said it would continue to service existing coal power plants, but warned jobs could be lost as a result of its decision.
The firm is already cutting up to 13,000 job cuts at GE Aviation, which makes jet engines, due to the pandemic.
In a tweet, the Natural Resources Defense Council said: "Communities and organizers have been calling on GE to get out of coal for years. This is an important and long overdue step in the right direction to protect communities' health and the environment."
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EBRD and GCF boost climate financing for Mongolian enterprises www.news.mn

Smaller firms in Mongolia will benefit from new opportunities to make their businesses more energy efficient and productive thanks to a USD 4 million loan provided by the European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) to XacLeasing, one of the country’s largest financial leasing companies.
The loan is being made available under the EBRD’s Green Economy Financing Facility (GEFF) in Mongolia and blends USD 1 million of GCF concessional finance with USD 3 million of EBRD finance.
XacLeasing is the first leasing company to join GEFF Mongolia and will offer leases to micro-, small- and medium-sized enterprises (MSMEs) for investments in high-performing technologies that improve the use of energy and water resources.
The leases will cover investments in technologies such as energy-efficient production machinery, agricultural irrigation and rainwater harvesting equipment. Beneficiaries can identify climate-friendly technologies with the help of the Green Technology Selector and dedicated technical support is available through a consultancy team funded by the GCF and Japan.
GEFF Mongolia supports gender activities that aim to enhance equal opportunities for men and women to access finance for green technologies.
It builds on the success of the EBRD’s previous Sustainable Energy Financing Facility in Mongolia that enabled small businesses to finance over 35 energy efficiency and renewable energy investments with a combined value of over to USD 20 million.
Hannes Takacs, EBRD Associate Director, Head of Mongolia, said: “For the first time the EBRD is making leasing loans for climate mitigation and resilience projects available to small businesses in Mongolia. Broadening access to leasing, including widening the range of available leasing products, is one of the Bank’s priorities in the country. We are delighted to partner with our longstanding client, XacLeasing, a leasing company that has the expertise and reach to support that strategic goal.”
The EBRD GEFF programme operates through an aggregate network of more than 140 local financial institutions across 27 countries, supported by almost €4.2 billion of EBRD finance for 160,000 clients since it began. These projects have led to annual CO2 emissions reductions of more than 8.6 million tonnes.
The partnership between the Green Climate Fund and the EBRD has seen the GCF support seven EBRD programmes with US$ 1.08 billion, catalysing more than US$ 2.7 billion co-financing. The GCF is the largest climate fund in the world to support the efforts of developing countries to respond to the challenge of climate change.
In Mongolia, the EBRD works to help build a diverse economy by developing the private sector and supporting infrastructure improvements. The Bank has invested more than €1.8 billion in 113 projects in the country since it started operations there in 2006.
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Prime Minister works at leather technology park in Darkhan-Uul aimag www.montsame.mn

Ulaanbaatar /MONTSAME/. During his working trip to Darkhan-Uul aimag last week, Prime Minister U.Khurelsukh visited the Darkhan Leather Technology Park, becoming acquainted with its operations.
PM Khurelsukh ordered relevant officials to present the cabinet a proposal on integrating around 40 leather, hides factories in Ulaanbaatar with the Darkhan Leather Technology Park, turning vocational training centers in this area into a complex and building apartment towns for the Park’s employees, .
Aiming to offer value added end products on international market, the Darkhan Leather Technology Park, was established in 2018 and operates in leather and hides processing and light industry technology areas. It is also building a complex factory for leather, hides and cashmere manufacturing on 1 180 ha area of land in the aimag.
The complex factory will hold various facilities, such as storage and manufacturing factory for leather, hides, cashmere, felt and gelatin, center for development and research, power and heating substations and a treatment center. A facility for hides processing will be developed under the cooperation between Mongolian and Spanish companies. Within the framework of a long term partnership with foreign companies, 600,000 tons of sheep and goat skins of international standard will be exported to Spain this year, officials from the Darkhan Leather Technology Park introduced.
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Foreign Minister visiting Russia www.montsame.mn

Ulaanbaatar /MONTSAME/. Minister of Foreign Affairs of Mongolia N.Enkhtaivan is paying an official visit to the Russian Federation between September 20 and 22. The Mongolian delegation led by Minister Enkhtaivan arrived at the Domodedovo International Airport in Moscow on September 20.
During his first foreign trip since being appointed, the Foreign Minister is to hold talks with his Russian counterpart on a wide range of issues concerning bilateral relations and cooperation, and meet with officials from the Russian legislative body, government ministries and Eurasian Economic Commission.
Mongolian and Russian Foreign Ministers, N.Enkhtaivan and Sergey Lavrov, will also exchange a letter of ratification of the Treaty on Friendly Relations and Comprehensive Strategic Partnership between Mongolia and the Russian Federation, signed in 2019.
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Airbus unveils concepts for hydrogen-powered plane www.reuters.com

PARIS (Reuters) - Airbus has unveiled three visual concepts for “zero emission” airplanes to be powered by hydrogen.
It is the planemaker’s latest effort to draw public attention to its “zero-emission” ambitions as European governments push for cleaner technology in their post-COVID recovery plans.
Airbus AIR.PA has set itself a deadline of 2035 to put a carbon-free commercial aircraft into service, a target engine makers like Safran SAF.PA have described as ambitious.
The “ZEROe” initiative includes concepts for two conventional-looking aircraft: a turbofan jet engine able to carry 120-200 people over 2,000 nautical miles (3,700 km) and a turboprop able to carry up to 100 people for 1,000 nm.
Unlike normal planes, the engines would be adapted to burn liquid hydrogen stored in the rear fuselage.
A third proposal incorporates a revolutionary “blended wing body” design similar to one presented in February.
At the same time, Airbus is working on a demonstrator, with initial results expected in 2021.
“The demonstrator will allow us to assess what the most promising architecture is,” Airbus Chief Technology Officer Grazia Vittadini said in an interview.
“We see it as applicable to all Airbus products eventually.”
To meet its 2035 goal, Airbus would need to select technologies by 2025, she said. Other industry executives said such a clean break in propulsion could take until 2040.
Challenges include finding ways to safely store volatile liquid hydrogen during flight at very cold temperatures.
Airbus dismissed concerns that hydrogen would be unsafe and has called for massive investment in new energy infrastructure.
While hydrogen has been discussed since the 1970s, it remains too expensive for widespread use. Proponents say infrastructure investment and rising demand will lower the cost.
Most hydrogen used today is extracted from natural gas, which creates carbon emissions.
However, Airbus said the hydrogen used for aviation would be produced from renewable energy and extracted from water with electrolysis. That’s a carbon-free process if powered by renewable electricity, but it is currently more expensive.
Reporting by Tim Hepher; Editing by Sam Holmes
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Fitch Assigns Mongolia's Proposed USD Bond a 'B' Rating www.fitchratings.com

Fitch Ratings - Hong Kong - 21 Sep 2020: Fitch Ratings has assigned Mongolia's (B/Stable) proposed US dollar bonds a 'B' rating.
Proceeds from the proposed bonds will be used to refinance bonds maturing in 2021 and 2022 through a cash tender offer.
KEY RATING DRIVERS
The rating is in line with Mongolia's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B' with a Stable Outlook.
Fitch affirmed Mongolia's Long-Term Foreign- and Local-Currency IDRs on 28 May 2020.
RATING SENSITIVITIES
The rating on the proposed bond is sensitive to any changes in Mongolia's Long-Term Foreign-Currency IDR.
The following were the rating sensitivities for the sovereign rating published in the rating action commentary in May 2020.
Factors that could, individually or collectively, lead to positive rating action/upgrade:
- The accumulation of larger foreign-currency reserve buffers and the implementation of a debt-management strategy that lowers refinancing risks and maintains external debt sustainability.
- A reduction of fiscal deficits that puts gross general government debt (GGGD)/GDP back on a downward trajectory after the increase in 2020 related to the coronavirus shock.
- A resumption of stronger economic growth and export trends without the emergence of imbalances, and the maintenance of a favourable business environment conducive to robust FDI inflows.
Factors that could, individually or collectively, lead to negative rating action/downgrade:
- Evidence of heightened external financing stress, for example if official multilateral and/or bilateral inflows are not forthcoming or in the event of a marked decline in foreign reserves.
- Failure to reduce the budget deficit and stabilise the GGGD/GDP ratio after the increase in 2020 related to the coronavirus shock.
- Political instability sufficient to significantly disrupt strategic mining projects or FDI inflows.
BEST/WORST CASE RATING SCENARIO
International scale credit ratings of Sovereigns, Public Finance and Infrastructure issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of three notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit [https://www.fitchratings.com/site/re/10111579].
DATE OF RELEVANT COMMITTEE
27 May 2020
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
ESG CONSIDERATIONS
The ESG profile is in line with that of Mongolia.
For more information on our ESG Relevance Scores, visit www.fitchratings.com/esg.
 
 
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