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

NEWS

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Moody’s changes Mongolia’s outlook from stable to negative www.zgm.mn

Moody’s Investors Service revised the issuer ratings of Mongolia from stable to negative but the previous status of the long-term B3 rating was unchanged. The decision to change the rating outlook to negative reflects rising external vulnerability risks related to a sharp fall in export revenue, widening the current account deficit to about 15 percent to 20 percent of GDP in 2020 amid declined demand for commodities, said the rating agency. This is mainly influenced by rating drops. Moreover, the government’s borrowing requirements are expected to increase markedly, in part to fund a large stimulus package, which raises liquidity risks. As of the first three months, deficits in the current account increased by two times to USD 767 million from a year ago. Government spending during the coronavirus outbreak is estimated to widen the fiscal deficit to 8.5 percent of GDP in 2020. Moody’s projects the economy’s reserves to fall to USD three billion by the end of the year from USD 4.4 billion as of February. This comes at a time when access to external financing is highly uncertain. In the current environment of heightened uncertainty about Mongolia’s capacity to generate export revenue and obtain external financing at moderate costs and in a timely fashion, there is a risk that funding pressures will increase (not yet acute), Moody’s said. Previously, the Bank of Mongolia (BoM) highlighted the importance of not downgrading the credit rating due to the expected external debt.

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Bayan Khundii gold project value to double as gold price rises www.zgm.mn

The value of the gold projects has been increased during the time when the gold price climbs. According to Erdene Resource Development Corp. (ERD)’s preliminary feasibility study, the price of gold reflected to stand at USD 1,300 per ounce, but it has risen to USD 1,700 currently, the project’s value has almost doubled to USD 188 million. Additionally, ERD’s stock traded at CAD 0.23 on the Toronto Stock Exchange (TSX) on Friday. The company, which has received mining licenses for the Khundii gold project, is working to complete a detailed feasibility study by mid-2020. At the same time, some discussions related to financing gold companies have been revealed. Moreover, the Speaker of Parliament, Zandanshatar Gombojav highlighted that implementing the Gold 2 program and providing funding to gold companies will help increase foreign exchange reserves and ensure the stability of the tugrik.

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CGA: Coal export declined by nearly three times yoy www.zgm.mn

Since the beginning of the year to May 10, a total of 4.6 million tons of coal was exported at USD 374.5 million, according to the preliminary data of the General Customs Administration (CGA). Compared to the same period last year, it is 2.7 times less and 2.8 times less in price. A total of 482,000 tons of coal have been exported in May alone. According to the Minister of Finance, 470 trucks exported coal at Gashuunsukhait port and 233 trucks at Shiveekhuren port last Friday. Despite the increase in coal exports, the CEO of Tavan Tolgoi JSC said that it would return to normal only if more than 500 trucks produce coal at the Gashuunsukhait port daily. Erdenes Tavan Tolgoi, which plans to sell 9.2 million tons of coal this year, said it is expecting a 30 percent drop in coal exports. Mongolyn Alt (MAK) LLC exported more than 300,000 tons of coal in the first four months. The Vice President of the company highlighted that it is several times less than the same period of previous years. SouthGobi Resources Ltd., one of the companies that mine coal at Nariinsukhait deposit, said in May that it would sell coal from the warehouse.

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Anti-corruption authority: Mongolian government official misuses budget money www.news.mn

Earlier yesterday (12 May), the Mongolian Independent Authority against Corruption reported that an unnamed government official is under investigation for the misuse of MNT 1.3 billion (USD 465,896) from the state budget. According to one source, the official paid the money as compensation to employees who were illegally fired from their jobs. This corrupt altruism needs to be verified.

Last week, the IAAC investigated a staggering 491 cases; 13 were closed and three cases returned to prosecutors.

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China lifts tariffs on US goods despite Trump’s threat to rip up trade deal www.rt.com

A new list of US products to be exempt from trade tariffs has been announced by China’s finance ministry on Tuesday. It said the new waivers will take effect on May 19 and expire on May 18, 2021.
The exemptions cover 79 products in total, including rare earth mineral ores, aircraft radar equipment, semiconductor parts, medical disinfectants, and a range of precious metals, chemical and petrochemical products.

Importers in China will have to apply to the General Administration of Customs within six months of the announcement to be considered for waivers, which are effective from May 19.

The first batch of exemptions was announced in September 2019. It included major agricultural commodities such as soybeans and pork, as well as petrochemical products.

On Friday, the two countries’ top trade negotiators held their first telephone call since the Phase 1 deal agreement in January. Under the deal, China agreed to increase its purchases of US goods from a 2017 baseline by $200 billion over two years, with around $77 billion in increased purchases in the first year and $123 billion in the second year. In return, the US promised to slash tariffs from 15 to 7.5 percent on $120 billion worth of Chinese goods.

At a press conference on Tuesday, Chinese Foreign Ministry spokesman Zhao Lijian said the two nations should implement the deal with equality and mutual respect. The agreement is beneficial for both sides, along with the rest of the world, he said.

US-China bilateral trade nosedived in the first four months of the year as supply chains on both sides were severely disrupted by coronavirus lockdowns. Customs data showed that China’s imports of US goods dropped by 11.1 percent in April, and by an unprecedented 85.5 percent in March. US President Donald Trump has threatened to terminate the deal if China fails to meet its purchase commitments.

The Covid-19 pandemic has worsened the already strained relations between the world’s two largest economies, with Washington accusing the Chinese government of “covering up” the initial coronavirus outbreak in December, and of obstructing Western efforts to investigate the virus’ origin. US Secretary of State Mike Pompeo has said Washington has “significant evidence” that the coronavirus originated in a laboratory in Wuhan, China. Beijing has called Washington's claims “groundless accusations.”

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President Battulga visits railroad construction sites www.montsame.mn

President of Mongolia Khaltmaagiin Battulga legged the construction sites of 416 km railway connecting Zuunbayan with Tavantolgoi, and 240km railway connecting Tavantolgoi with Gashuunsukhait border checkpoint, last weekend.

It has been witnessed that the railway construction has been undergoing with vigorous progress regardless of the circumstances surrounding COVID-19 pandemic.

Employee catering services, supply of uniforms, protective gears and other required materials for the 6,000 workers are all sustained by national companies. This sets a good example of protecting workers’ family income during pandemic by making sure all workers are keeping their jobs even in times of crisis.

Their successful completion is expected to create good base and practice of professional cadres, technology, machineries and manufacturers for building railway structures in the future.

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Russian military charter to fly Mongolian cadets home www.news.mn

Mongolian cadets who are studying in Russia will return home with a Moscow-chartered military plane. The evacuation comes after the online discussion between Mongolian Defence Minister N.Enkhbold and his Russian counterpart Sergey Shoigu on the eve of the 75th anniversary of the Victory of the Great Patriotic War.

During the discussion, N.Enkhbold requested Sergey Shoigu to help evacuating Mongolian cadets with their families and other students who study in Russian Federation with a chartered military plane. Minister Shoigu accepted the Mongolian request and has tasked the relevant officials to organise the evacuation of the cadets with their aircraft.

According to sources, Mongolia plans to evacuate over 500 of its students from Russia by air and land in the next weeks. The returnees are expected to be quarantined in the Selenge and Darkhan-Uul provinces, which are close to the Russian border.

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Mongolia’s wheat cultivation increases amid Covid-19 lockdown www.news.mn

Farmers in Mongolia’s cereal crop growing regions such as the provinces of Bulgan and Selenge have already begun cultivation. For example, in Bulgan Province, farmers are planning to cultivate a total of 42 thousand hectares; 1000 hectares with wheat.

At this time of year average daytime temperatures reach 5-10 Celsius in 60 percent of Mongolian agricultural regions. In other regions, average temperatures are 1.5-2.0 Celsius warmer than normal.

According to the Ministry of Food, Agriculture and Light Industry, a total area of 360.0 thousand hectares is to be cultivated by wheat nationally in 2020 – an increase of 20.0 thousand hectares compared to previous year – in order to prevent flour shortage which may result from the consequences of the coronavirus pandemic. Last year, Mongolia harvested a total of 407.6 thousand tonnes of wheat from 339.4 thousand hectares; of this, 247.4 thousand tonnes were sold to flour producers.

In addition, the country of three million plans to cultivate tomatoes on 16.0 thousand hectares, vegetables on 11.6 thousand hectares, oil crops on 45.0 thousand hectares, and fodder crops on 38.2 thousand hectares; 7.3 thousand hectares will be used for growing fruit.

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Badass Mongolian Mulans? www.news.mn

Archaeologists in Mongolia have found the remains of two ancient women warriors, whose skeletal remains indicate that they were well practiced in archery and horseback riding. These two women lived during the Xianbei period (A.D. 147 to 552), a period of political fragmentation and unrest that gave rise to the Ballad of Mulan, the researchers said.

Perhaps these women were so athletic because during the Xianbei period, “it may have been that women were needed to defend home and country alongside the men,” said study researchers Christine Lee and Yahaira Gonzalez, bioarchaeologists at California State University, Los Angeles.

Lee added that many historians pin Mulan to the Xianbei period. There’s a lot of research into the Ballad of Mulan, and “my research just reinforces what they’ve been finding,” Lee told Live Science. In the ballad, Mulan serves in the army so that her father doesn’t have to; but at that time, China didn’t have military conscription, Lee said. Moreover, the ballad notes that Mulan was fighting for the khan, a term used for Mongolian leaders. However, Chinese authors were the first to transcribe the ballad, which is probably why it’s seen as a Chinese story, Lee said.

The research, which is not yet published in a peer-reviewed journal, was slated to be presented at the American Association of Physical Anthropologists annual conference in mid-April, until the meeting was canceled due to the coronavirus pandemic.

Lee has worked in China and Mongolia for the past 16 years. She discovered the remains of the two women warriors during an excavation of a cemetery at the Airagiin Gozgor archaeological site, in the Orkhon province of northern Mongolia. Over the past four years, Lee and her colleagues have analyzed ancient human remains from 29 elite burials (16 males, 10 females, 3 unknown) at the site, for signs of prolonged horseback riding, archery and trauma.

In particular, she looked at bone marks from muscle attachments, as larger marks indicate that the muscles were heavily used; for instance, during archery. Markers of repetitive movement on the thumb were also indicative of archery, Lee said. She also looked for trauma patterns in the spine that are common in people who ride horses.

While many of the men and adolescents had signs suggestive of archery and horseback riding, and some of the women had marks indicating they did one or the other, the two warrior women had signs of both, said Lee, who is the lead researcher of the study.

“They were probably pretty badass,” Lee said. “They’re doing what the men are doing. So, you can extrapolate from that [and say] that they have some gender equality.”

Any form of gender equality was momentous for that period in Asia. “In neighboring China at that time, women were secluded,” Lee said. “The ideal woman was helpless and docile, while being in the north [in Mongolia], they’re not.”

The Mongolian culture didn’t have a written language before Genghis Khan (1162 to 1227), but other cultures, including the Chinese, Koreans and Persians, wrote about the Mongolians, Lee said. By the A.D. 900s, women in Mongolia were enjoying freedoms not found in contemporary cultures; the Mongolians had queens who led armies and received emissaries from the Pope, Lee said. In addition, women were able to inherit property and decide whom they wanted to marry, she said.

“If they’re already that independent by 900 A.D., my thinking was that you [can] extrapolate backward, at least a couple hundred years, because it has to come from somewhere,” Lee told Live Science.

She noted that the Chinese were writing propaganda about the Mongolian women, “because they were saying that it [women having power] was a bad thing, and that’s horrible and that these women have too much freedom and they’re slutty and they’re horrible wives.”

In essence, the Chinese were disparaging anybody who lived north of the wall, Lee said.

Of the two warrior women, one was older than 50 and the other was about 20 years old. It’s possible they practiced archery and rode horses because these skills were needed during the political instability that following the collapse of the Han Dynasty in China in A.D. 220, Lee said.

Neither woman had signs of war trauma. This could be because both women were found in elite graves, and elite people may not have fought in battles, Lee said. (live science)

 
 
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BoM: Official decision of EC will come into force in October www.zgm.mn

The Bank of Mongolia (BoM) on Friday released a statement in connection with the inclusion of Mongolia in the European Commission’s blacklist. The policy document being developed by the European Commission (EC) is currently being discussed at the draft level and will be approved by the European Parliament and the Council within 1-2 months. If approved, the blacklist will become an official decision of the European Union and will come into force in October 2020, the statement said. EC officially added Mongolia to its list of jurisdictions with strategic deficiencies in their anti-money laundering and countering the financing of terrorism regimes on May 8. The commission assessed the latest information received in this context from the FATF relating to these deficiencies and other relevant information. Based on the 2015 Mutual Evaluation, Mongolia successfully fulfilled 50 percent of the tasks since its inclusion in the FATF (Financial Action Task Force)’s grey list on October 18, 2019. Mongolia is currently working to discuss and report its remaining work report at the Asia Pacific Group meeting in May, which will allow the country to be removed from the list of strategically deficient countries by October 2020. The FATF's activities, actions, rules, procedures, policy decision-making processes, and oversight activities are independent of EC. According to the BoM, the bank will provide timely information on all measures taken by the government to combat money laundering and terrorist financing, its results, and relations and cooperation with international organizations.

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