www.unuudur.com: The latest news of Mongolia in the World

This month, the Hong Kong Census and Statistics Department reported that China imported 102,779 kilograms of gold from Hong Kong in November, an increase from October’s 86,299 kilograms. Beijing does not release gold trade figures, so for this and other reasons the Hong Kong numbers are considered the best indication of China’s gold imports.

New Years eve has never been one of my favorite holidays. However, New Years is a great excuse to ruminate about the year ahead.

As the Chinese economy tumbles into recession, the World Bank’s chief economist is embarking on a campaign to reverse negative perceptions about his home country’s prospects. “China has the potential to achieve another 20 years of 8% growth,” said Justin Yifu Lin in a speech sponsored by the Federal Reserve Bank of San Francisco late [...]

Two Mongolian brothers have come a long way from selling pelts

Mongolia’s largest dairy firm–Suu Corp., dating from the Soviet era–is being transformed by the Dagvadorjs. Visitors don white coats and surgical masks, just like all the workers who operate the gleaming pasteurizing and packaging machines. Churning 200 tons of dairy products a day, they turn out everything from Spider-Man chocolate ice cream pops to fresh [...]

Declaring China’s financial system “robust overall,” the International Monetary Fund on Monday issued its first-ever assessment of the country’s banks. The institution surveyed the 17 largest of them, which represent 83% of the commercial banking system, and concluded that they “appear to be resilient to isolated shocks.” On the surface, there is much to like [...]

Economic activity in Mongolia has traditionally been based on herding and agriculture – Mongolia’s extensive mineral deposits, however, have attracted foreign investors. The country holds copper, gold, coal, molybdenum, fluorspar, uranium, tin, and tungsten deposits, which account for a large part of foreign direct investment and government revenues. Soviet assistance, at its height one-third of [...]

Rio Tinto has raised its stake in Canadian mineral exploration company Ivanhoe Mines by 2 percent for a price of $536 million. Rio Tinto now holds a 48.5% stake in the company with a total investment of close to $4 billion since 2006.  Rio Tinto is a diversified mining company, with operations spanning the globe, [...]

Gregory Boyce, chief executive of coal giant Peabody Energy, is feeling his oats. Today (July 14), Peabody announced a deal with the Xinjiang Uyghur Autonomous Region of China to develop a 50 million ton per year surface mine — a giant project that would rank as one of the biggest coal mines in the world. [...]

Gregory Boyce, chief executive of coal giant Peabody Energy, is feeling his oats. This week he launched a new $5 billion takeover bid for Australian miner MacArthur, teaming with steel giant ArcelorMittal. It’s his second charge after MacArthur, having been rebuffed in a bid last year. Early indications are that this venture (60% Peabody, 40% [...]

Shares of Peabody Energy Corp. surged on Tuesday after Mongolia chose the U.S. mining giant to develop a massive coal deposit in the Gobi Desert along with two other mining groups.

Western Union says it has agreed to acquire Travelex Global Business Payments for about $973.8 million in cash, in a deal that will allow it to expand rapidly in the business of international payment processing. The Travelex division provides international payments services to business clients, mostly small and medium-sized companies and distribution partners.

Coal prices are surging ahead even as most other commodities pull back, spurred on by expectations that metallurgical and thermal coal production will again fail to meet rising global demand this year. The result? Record profits for major coal producers like Xstrata, a surge in acquisitions from coal-hungry India, Chinese electricity shortages, and a raging [...]

Is dirty old coal making a comeback? Maybe by default. Post-Fukushima Daiichi, support for new nukes has melted down. Middle Eastern unrest and a virtual ban on drilling in the Gulf of Mexico are rocking the stability (and price) of oil supplies. Controversy over hydraulic “fracking” is sidelining development of America’s shale-trapped natural gas. Wind [...]

ArcelorMittal is by far the largest producer of steel in the world, and is leaving no stone unturned to ensure it holds this position. Still, the company remains astutely focused on profitability. The company is making a push to reduce costs by achieving greater self-sufficiency in steel manufacturing input materials – namely iron ore and [...]

On a crisp late October afternoon in Paris Bernard Arnault, Europe’s richest man, is talking about his upcoming trip to one of the fastest-growing outposts of his LVMH empire: Mongolia, of all places. “I like to see the reaction of the people in the shops,” says the 61-year-old mogul in lightly accented but supple English. [...]

«Мы уже переживаем что-то вроде кризиса на валютных рынках: многие валюты развивающихся стран дорожают против доллара США, и это создает ряд проблем», — говорит Марк Мобиус, исполнительный директор Templeton Asset Management в интервью индийской газете The Economic Times.

Every summer Naadam sweeps the steppes of Mongolia. since ancient times the “three manly sports” of wrestling, archery and horseback riding featured in the annual festival have defined the essence of nomadic life. They’re celebrated in nationwide competitions that culminate in what’s called the world’s second-oldest Olympics. Polo may push Mongolia to add a fourth [...]

Net Worth: $2.0 bil Fortune: Self Made Source: mining Age: 59 Country Of Citizenship: United States Residence: Singapore Education: Reed C, Bachelor of Arts / Science Marital Status: Married, 3 children

Last year, Kazakhstan became the world’s largest supplier of uranium, overtaking Australia and Canada, at 14,000 tonnes, or one fifth of world production. As supplies of oil are being sought in increasingly inhospitable regions of the globe to meet rising demand against finite supply, the hunt is on for uranium in the face of an [...]

Still an avid roamer, Sawada says it’s easier for him to count the countries he hasn’t been to than those he has. “I like dangerous places,” Sawada says with a smile. That sense of adventure is evident in recent acquisitions, too, including a controlling stake in Khan Bank, Mongolia’s biggest retail lender.

President Tsakhia Elbegdorj speaks with Forbes about the country’s raw materials potential and efforts to balance the economy. Mongolia’s agriculture- and mining-centric economy has been battered over the past year as demand for commodities has fallen worldwide. Nonetheless, the country has reason for optimism, as a pending deal to exploit the massive Oyu Tolgoi gold [...]

Москва вполне может стать мировой столицей будущего, пишет Forbes в своем обзоре самых развивающихся городов мира. Именно российскую столицу и Шанхай автор материала, ведущий научный сотрудник Университета Чепмена Джоэл Коткин (Joel Kotkin) поместил вверх списка мировых центров XXI века. «Мировые столицы завтрашнего дня могут находиться не в Западном мире, а по большей части в таких [...]

nvestors in Mongolia are jubilant after parliament put an end to years of debate on Tuesday, passing a package of laws that could turn the poor agrarian country into a powerhouse of mining and resources. To some, the vote has unlocked the door to economic growth that will turn Mongolia into Dubai within a decade. [...]

Третья по величине мировая добывающая железную руду компания BHP Billiton согласилась снизить цены на свою продукцию для неназванных клиентов на 33%-44%, пишет Forbes.

Будучи на этой неделе в Москве, президент Обама добился двух больших успехов. Он договорился о рамочном соглашении по поводу сокращения ядерных арсеналов России и США и получил российское разрешение на использование воздушного пространства страны для поддержания наших вооруженных сил в Афганистане. Согласно одному сообщению, русские назвали этот визит ‘революционным’.

Журнал Forbes советует не терять времени в кризис и, если имеются свободные средства, покупать вещи, которые обязательно подорожают, как только мировая экономика станет восстанавливаться. «Те цены, которые сейчас установились на рынке, начиная от недвижимости и автомобилей до телевизоров, не будут такими вечность», – отмечает издание.

Более 90% экономистов предсказывают окончание экономического спада в США к концу этого года, хотя восстановление, скорее всего, будет неровным, пишет Forbes.

Foreign investors will be watching Mongolia’s presidential elections on Sunday for signs of whether the outcome will serve to further postpone the parliament’s ratification of a landmark mining investment agreement.

Russia’s state rail monopoly signed a deal potentially totalling $7 billion on Wednesday to upgrade Mongolia’s rail network and improve access to untapped deposits of uranium, coal and other minerals in the Gobi desert.