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    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Coronavirus Mongolia, Latest update www.amicusmongolia.com

There are currently no confirmed cases of coronavirus in Mongolia.
The government of Mongolia, all emergency agencies and health organizations are still working hard and operating 24 hours to preventing from the COVID-19.

Key actions from the Government of Mongolia to prevent from the Coronavirus:
All flights from/to Japan and South Korea suspended until at least March 11.
Public events including conferences, sports, and entertainment events have been prohibited.
Mongolian and foreign nationals arriving from the countries affected by Covid-19 in quarantine for 14 days starting from their date of arrival.
All authorities of the state organizations banned to do domestic and foreign business trips until March 30.
It is assigned to penalize individuals who lied about their travel history and health or refused to give the information required upon arrival from coronavirus-affected countries.
It has been decided to empty some state and private hospitals in the city, including the Military Medical Center and health resorts in provincial centers, if the new coronavirus comes into the country.
MIAT Mongolian Airlines cancelled the flights to Bangkok and Tokyo until March 30.
Inter-provincial roads and highways throughout Mongolia including public buses and domestic flights are closed during the Mongolian Lunar New Year (23 Feb – 27 Feb). The State Emergency Commission made a decision to extend the suspension of traffic movements until March 3rd.
It is suspended Tsagaan Sar celebration which is the traditional Mongolian celebration of Lunar New Year (23 Feb-26 Feb).
Every university, high schools, kindergarten and vocational training center have been suspended all around the until March 31.
Mongolians prohibited to travel the countries affected by Covid-19 until March 02. It is now extended until March 31.
The government of Mongolia and non-governmental organizations has decided to launch a campaign to provide assistance to China to help contain the outbreak of coronavirus under a slogan of “Emotional Support to Eternal Neighbor”.
All borders with China have been closed to foot and vehicle traffic since January 27.
As of March 1, 2020, the number of coronavirus infections reached 86,964 worldwide with 2,978 dead, 42,126 recovered and infection has been detected at least in 57 countries. It if fataly rate 3.42% and recovery rate 46.43%.

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Coal and petroleum export to resume from March 15 www.montsame.mn

Ulaanbaatar /MONTSAME/ At its regular meeting held today, the Cabinet adopted a resolution on supporting the economy of Mongolia in the period of heightened state of readiness for prevention of coronavirus infection. The resolution reflects to resume export of coal, petroleum and other minerals from March 15.

It regulates that the drivers, who fully ensured disinfection, quarantine and hygiene requirements should crossed out the border, transporting coal, petroleum and minerals and come back within the day. Copper concentrate export by Oyu Tolgoi deposit is running normally so far and trucks are being completely disinfected in addition to providing protective wears to heavy truck drivers. Therefore, it was resolved to introduce the standard into other exports, reports Ch.Khurelbaatar, Minister of Finance.

Furthermore, several regulations have been reflected in the resolution regarding to easing burden on individuals and entities. In particular, the resolution included issues such as formulation of a bill on not imposing deferred interest and fine in cases the entities could not pay their social insurance premium of their staffs in the period of heightened state of readiness and its submission to the Parliament. Moreover, a bill on not imposing fine and deferred interest on entities that couldn’t pay their tax and exempting markets, trade centers and service provider places which reduced their rental payment, from income tax, will be submitted to the Parliament.

“Although the state budget revenue dropped by MNT 210 billion compared to the same period of the previous year, no budget amendments will be made this year. The country’s economy is shrinking to a certain extent in the period of heightened state of readiness. As suspension of investment will cause adverse impact in this time, general budget managers have been ordered to carry out tender works on building schools, kindergartens and hospitals. In the last two to three years, the Government set goals and worked on improving economic basic indicators and easing debt burden. As a result, the Government paid back debt worth MNT 8.2 trillion. Therefore, the budget has a capability to overcome one-year hardship. Mongolia exported 4 million tons of coal this time last year. While, as of the first two months of this year, the country has exported 2.7 million tons of coal. The Chinese side expressed its readiness to receive coal from Mongolia,” the Finance Minister said.

Additionally, authorities of the Bank of Mongolia presented measures to be taken. The BoM’s Monetary Policy Council plans to hold its meeting at the beginning of March to discuss whether to reduce monetary policy rate. "With reduction of the monetary policy rate, conditions will be created to improve solvency of the banks and to decrease loan interest," said BoM President Lkhagvasuren.

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30.9 million head of livestock expected to deliver offspring www.montsame.mn

Ulaanbaatar/MONTSAME/. There are over 70 million heads of livestock in the country as of today, of which 30.9 million are expected to deliver young animals, reported the Ministry of Food, Agriculture and Light Industry.

In the prevention of pasture deterioration, grazing areas in aimags such as Bulgan, Tuv, and Arkhangai will be freed, as herders of other aimags oblidged to leave the areas by March 1.

Bulgan aimag received the most number of livestock for fall and winter grazing. Herders from Dundgobi, Uvurkhangai, Tuv, and Arkhangai aimags have been grazing their animals in the territories of Rashaant, Gurvanbulag, Saikhan and Mogod soums of Bulgan aimag, said D.Batmunkh, head of Department of Animal Husbandry Development Policy and Coordination, MFALI.

The hay and fodder worth MNT1.9 billion will be distributed from the state reserve to some aimags, where spring conditions are likely to worsen.

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Sino-Mongolian true friendship endures amid outbreak www.chinadaily.com.cn

Mongolian President Khaltmaagiin Battulga paid a special one-day visit to China on Feb 27, 2020, as the first foreign head of state to visit China since the outbreak of COVID-19, representing the profound friendship between the two countries at the current stage of the fight against epidemic. During his meeting with Chinese President Xi Jinping, he quoted some old Mongolian words of wisdom -- "a needle in need is of greater use than a camel in prosperity" as an implication of "adversity reveals true friendship".

President Xi Jinping expressed his warm welcome as President Battulga paid this special visit only one day after Mongolia's traditional White Month holiday and appreciated the Mongolian government and people for their valuable support and assistance to China in fighting the epidemic. Moreover, he noted that President Battulga's one-day visit to express consolation and support to the Chinese people over the outbreak of the virus vividly showed that the two countries stand closely together in difficult times.

After both sides exchanged views on joint efforts to curb the spread of the novel coronavirus, President Battulga announced to President Xi Jinping a donation of 30,000 sheep to China, implying that the assistance will be measured by the significance of its size. This sincere and down-to-earth assistance has received wide attention and warm appreciation from the netizens of both counties.

Firm support reveals true friendship

President Battulga's one-day visit during this special period of time fully illustrated the Mongolian government's firm support for China's efforts to fight against the epidemic. The Mongolian government provided China at the earliest possible time $200,000, which was Mongolia's largest amount of cash assistance for a foreign country in recent years. Meanwhile, the Mongolian government's senior officials and some other party leaders sent letters to China, expressing their condolences and highly praising the effective measures taken by the Chinese government to battle against the epidemic.

During his meeting with President Xi Jinping, President Battulga addressed his appreciation of China's nationwide joint efforts to fight against the epidemic.
No wonder this meeting at this special time between the heads of the two countries will be an important step toward maintaining the regular bilateral high-level visits, strengthening mutual trust, and consolidating the comprehensive strategic partnership between the two countries.

'A friend in need, a friend indeed'

Since the unprecedented outbreak of the virus, the Mongolian people have launched humanitarian fundraising activities to support China's fight against the epidemic, and received active responses from all walks of life, indicating the profound friendship between the two peoples. The Mongolian people have paid great attention to China's anti-epidemic situation and expressed their kindness to stand with the Chinese people and try their best to provide support and help in many ways.

According to the Chinese embassy in Mongolia, the charitable funds raised by all sectors of Mongolian society have reached nearly 5 million yuan, and donations also include medical supplies such as masks and medical protective clothing that are in short supply in China, reflecting the profound friendship between the two peoples.

There is no isolated island in front of an epidemic. During the meeting, President Xi Jinping emphasized that China will continue to work with countries including Mongolia to fight the epidemic and safeguard regional and global public health security. Since the Mongolian people have been equally concerned about the outbreak, as Mongolia shares the longest land border with China, it is very necessary that the two countries stand closely together to curb the spread of the novel coronavirus.

President Battulga's special visit during the ongoing nationwide fight against the epidemic presented cooperation between neighboring countries to the world, and the vision of a community with a shared future for humanity will be deeply rooted in the hearts of the two peoples.

As the old Mongolian words of wisdom say, "It is not necessarily the rich who gives you meat to eat during a disaster, but it must be the true friend."

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Greeting

Dear readers and friends,

As you know, Mongolian Lunar New Year was on February 24th.
While the government made the wise decision to cancel all public celebrations, a new year is upon us nevertheless.
And as turbulent as the times have been, we are confident that all of us, across the globe, will overcome this together!!
It is with this conviction that we wish you the best of success, health and happiness in the New Year of "Iron Mouse" symbolizing the 17th sexagenarian cycle in Mongolian chronology!!

Since 2016, the creation of Mongolian Business Database (MBD), we have been operating active projects according to the mission of being "A bridge of your business with Mongolia". MBD has become a leading network/business platform. Currently 7600 businesses in Mongolia and investors/professionals from abroad are keeping an eye on Mongolia via MBD.

We aim to specifically promote particular B2B business cases by our information links and communication network. We will be pleased to be soon announcing the opening of new business projects by MBD which relate to UK and Czech Republic. Taking this opportunity, we wish to express our special gratitude for the cooperation and assistance to the Embassies of UK, Czech Republic and Australia, Mongolian-British Chamber of Commerce (John Grogan), Honorary Council General of Mongolia in Sydney (Nigel Finch) and the team at Petrovis Company!!

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Investment advisors worry U.S. response to coronavirus is too little too late www.reuters.com

NEW YORK (Reuters) - Investment-advisors are increasingly worried that U.S. authorities are not be doing enough to prevent a widespread outbreak of coronavirus in the country, potentially adding further downside to already-battered markets.
Their criticisms include the number of people so far tested by the U.S. Centers for Disease Control and Prevention (CDC), which some say is too small, the possible difficulties of imposing lockdowns on U.S. cities and concerns that the White House could bungle containment efforts.

The worries have magnified the uncertainty that has accompanied the coronavirus outbreak over the last several weeks, as investors scramble to adjust their portfolios to price in the virus’ potential for damage to the global economy and assess its further impact on asset prices.

The CDC states on its website that “as of Feb. 24, CDC teams are working with the Department of Homeland Security at 11 airports where all flights from China are being directed to screen travelers returning to the United States, and to refer them to U.S. health departments for oversight of self-monitoring.”

U.S. Health and Human Services (HHS) Secretary Alex Azar said as of Thursday morning the CDC had tested 3,625 specimens for the fast-moving virus.

For some investors and analysts, those assurances ring hollow.

“Much of what we’ve seen about this virus has shaken confidence in governments,” said James Bianco, head of Chicago-based advisory firm Bianco Research.

His list includes doubts over China’s accuracy in counting cases, criticism over Japan’s handling of a cruise ship quarantine at one of its ports, and the comparatively small number of people that U.S. authorities have so far tested.

Worries over the growing number of cases outside China sent the S&P 500 into intraday correction territory on Thursday morning. Stocks took an earlier hit on Wednesday after health officials in Nassau County, New York, said they were monitoring 83 people who visited China and may have come in contact with the coronavirus. Governor Andrew Cuomo said the state has had no confirmed cases so far. [L2N2AQ192]

On Wednesday evening, U.S. President Donald Trump told Americans that the risk from coronavirus remained “very low,” and appointed Vice President Mike Pence to run the U.S. response to the looming global health crisis.

Bianco said he fears many investors are still complacent about how quickly the number of cases could multiply in the United States, as it has in countries such as Iran, Italy and South Korea.

He is advising his clients to tread lightly until the full extent of the outbreak is known.

“I would rather risk a lost opportunity by being out of the market or underweight and finding out that this is not a big deal, than being fully invested and worrying that this will get worse,” Bianco said.

‘TREMENDOUS AMOUNT OF RISK’
Others are concerned over the consequences if the United States were forced to implement a lockdown similar to the one imposed by Chinese authorities on Hubei Province, the epicenter of the coronavirus outbreak.

Wuhan, Hubei’s capital, imposed strict controls on movement of residents, then eased them, then later announced that the relaxation had been revoked. Such measures could be more difficult to enforce in the United States.

“Those of us sitting here in Hong Kong looking at financial markets think there is a tremendous amount of risk in the system,” said Simon Powell, equity strategist at Jefferies in Hong Kong.

Powell is particularly worried that there could be spread of the virus from people from countries outside China which were not subject to travel restrictions coming into the United States. He is particularly concerned about the outbreak in Iran.

Iran said on Thursday that its coronavirus death toll had risen to 26, by far the highest number outside China. The death rate among confirmed cases of the virus has been running at around 10% in Iran compared to around 3% elsewhere.

Powell also thinks that a Trump government is unlikely to choose reduced economic activity , writing in a recent research note that “our base case hypothesis is that a Trump government is unlikely to choose reduced economic activity, and supply chain disruption, so spread of the virus, if it were to emerge in the US, would be more likely.”

Others have pointed to what they believe are shortcomings in the CDC’s approach.

“The initial response from the U.S. has been targeted to mount a response to confirmed high-risk or infected cases, not directed to a more generalized public health containment,” said Wouter Jongbloed, head of policy and risk analysis at New York-based Exante Data.

With coronavirus having spread well outside China, CDC testing was “likely insufficiently effective in preventing a potential outbreak in the U.S.,” Jongbloed said.

Reporting by Megan Davies; Additional reporting by Ira Iosebashvili; Editing by Daniel Wallis

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The Hu nominated for Heavy Music Awards 2020 www.montsame.mn

Ulaanbaatar/MONTSAME/. Mongolian hunnu rock band ‘The Hu’ became one of the finalists for the fourth annual Heavy Music Awards. The band was nominated for ‘Best International Breakthrough Band’.

The Heavy Music Awards, launched in 2017, recognize the best of the year across the heavy music landscape – artists, events, photographers, designers, producers, and more. With a panel of several hundred industry insiders nominating the finalists, the public has the final say on who wins.

Winners of the eleven awards will be revealed at the ceremony on May 21, 2020, at London’s O2 Forum Kentish Town.

Voting is now open at https://vote.heavymusicawards.com/.

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Rio to begin copper production at Winu in 2023 www.mining.com

Rio Tinto (ASX, LON, NYSE: RIO) plans to ramp up development of its Winu copper-gold project in Western Australia, with first production expected in 2023.

The world’s no. 2 miner continues drilling and geophysical testing at the asset, which could be its next major copper project, and is progressing discussions with landowners to keep moving forward.

Chief executive officer Jean-Sébastien Jacques said on Wednesday that the company’s job was to create options to meet market demand.

“A great example of one is Winu, our copper opportunity in Western Australia,” he said.

The Winu copper-gold-silver discovery is about 130 km (80 miles) from Newcrest’s Telfer copper-gold mine in the East Pilbara. It’s also close to numerous copper prospects discovered recently by juniors, and 350 km (220 miles) southeast of Port Hedland, the world’s largest bulk export port.

Rio has been investing heavily in copper in the past two years as it believes the market will soon go into deficit amid expectations that bigger power grids around the world and an electric-vehicle boom will boost demand, while supplies will remain constrained.

Chile, the world’s largest copper mining nation, has echoed the company’s outlook. In January, the state copper commission, Cochilco, said the anticipated global shortage of the metal would materialize this year, reaching about 22,000 tonnes. The agency cited a consumption increase paired with falling volumes of copper scrap processing as the most obvious causes.

Chief financial officer Jakob Stausholm confirmed on Wednesday Rio’s focus on the red metal, noting that most of the exploration expenditure was going towards the commodity.

In the past, analysts have questioned the mining giant’s ability to scale up its copper business quickly without making an expensive acquisition, especially after facing challenges at key assets.

Rio had to delay first production from the $5.3 billion underground expansion of its Oyu Tolgoi copper-gold-silver mine in Mongolia. Originally scheduled for early 2020, it’s now expected to happen in the third quarter of 2021.

Rio also decided to sell its interest in the Grasberg mine in Indonesia, the world’s second-biggest copper mine, as part of a deal that put an end to years of disagreements between operator Freeport McMoRan (NYSE:FCX) and the country’s government.

Demonstrating an increased interest in new discoveries, last year, it invested a further $302 million to advance its Resolution copper project in Arizona and has been advancing other copper projects, such as the Citadel project with Antipa Minerals (ASX:AZY) in Western Australia, and Berenguela, in south-eastern Peru. Rio has also applied for exploration permits in northern Chile.

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China's economy to grow 15% in Q2 as it recovers from coronavirus – JPMorgan www.rt.com

The world's second largest economy, China, will recover from the COVID-19 crisis to emerge stronger than ever, according to JPMorgan Chase's global economist Joseph Lupton.
Lupton told CNBC he is projecting negative four percent growth for the first quarter, when the coronavirus outbreak brought much of China's economy to a halt.

"It's not just looking at things still depressed. It's looking at where the bottom is and are we starting to march our way upward?" he said.

Lupton added that 15 percent quarter-on-quarter annualized growth could still be possible. "If you get a rebound that's happening, even if you're still down 30 percent, if you were down 50 percent, that's a 20 percentage point move that actually starts to impact growth not just in the second quarter but even in the late first quarter."

According to the economist, there will be increased fiscal stimulus from China's central bank, which will aid the country's ability to recover economically.

The International Monetary Fund has cut its growth outlook for China's economy by 0.4 percentage points to 5.6 percent, saying that announced policies are being implemented and China's economy will return to normal in the second quarter.

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Netizens hail donation of 30,000 sheep from Mongolia www.globaltimes.cn

Mongolian President Khaltmaa Battulga on Thursday became the second foreign leader to visit China after the COVID-19 outbreak, following Cambodian Prime Minister Hun Sen who visited China on February 5, as he donated 30,000 sheep to China to support the Chinese people's fight against the virus.

Chinese President Xi Jinping Thursday held talks with Battulga at the Great Hall of the People in Beijing, the Xinhua News Agency reported.

Xi said the Chinese government and people are making all-out efforts to fight the coronavirus outbreak, during which the Mongolian government and people have offered support.

Hailing Battulga as the first foreign head of state to visit China since the outbreak, Xi said the special visit by Battulga to express consolations and support to China fully embodies the high attention he pays to China-Mongolia ties and the profound friendship between the two peoples.

"This vividly shows that the two neighbors are in the same boat and working hand in hand to help each other," Xi said.

According to a video released by the China Central Television, after the meeting with Xi, Battulga, on behalf of his country, presented a certificate of ownership of 30,000 Mongolian sheep to Xi, as a donation to China to support the fight against COVID-19.

The Chinese people made a lot of comments on social media to show their appreciation, the topic of "Mongolian President donated 30,000 sheep to China" received more than 100 million views on Sina Weibo as of press time.

Many of them joked that they were thinking about hot pot and barbeque as lamb is popular in Chinese cuisine.

"Gosh, I really want to eat one. Thank you Mongolia!" read one comment on Sina Weibo.

"How could we transport those sheep from China-Mongolia border to Hubei Province? How about we make some lamb dumplings and send them to the medical workers in Wuhan?" said another.

"Thirty thousand sheep worth about 60 million yuan ($8.65 million) in China, what a concrete donation from a developing country. The US said they will donate about $100 million, but where is it?"

This is not the first donation from Mongolia. Mongolian Prime Minister Ukhnaa Khurelsukh said at a recent meeting with Chinese Ambassador to Mongolia Chai Wenrui that the Mongolian government has donated $200,000 for China's epidemic control effort and Mongolia is willing to continue to provide necessary support to China, Xinhua reported on Thursday.

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