Merkel eyes airline, commodities cooperation with Mongolia Mongolia, which has Russia and China as its neighbours, has large quantities of natural resources including copper, gold, silver and uranium deposits. Merkel outlined the difficulties involved in getting start-up financing for infrastructure and mining projects, and the need for infrastructure expansion in Mongolia. "Thirdly, Mongolia has big neighbours...
EXCLUSIVE-Greece set to get green light for EBRD support LONDON, Feb 27- Greece is expected to be given the green light early next week for what could add up to well over a billion euros of cheap aid and funding support from the European Bank for Reconstruction and Development, according to sources at the bank. An EBRD spokesman declined to comment but the sources who spoke to Reuters said approval was likely to come on the...
| By: Marc Jones
Mongolia pardons American, 2 Filipinos in tax case ULAN BATOR, Mongolia- Mongolia's president on Thursday pardoned an American mining executive and two Filipinos sentenced to prison for tax evasion, in a case that raised questions about the Asian nation's reputation as an investment destination. A statement from the U.S. Embassy in Mongolia's capital Ulan Batar said it appreciated the president's action...
Source: The Associated Press
Turquoise Hill to sell remaining stake in Mongolia's SouthGobi TORONTO, Feb 24- Turquoise Hill Resources Ltd on Tuesday agreed to sell the remainder of its stake in SouthGobi Resources, in an attempt to finally sever ties with the Mongolian coal miner that was once worth over C $3 billion. Turquoise Hill, a unit of Rio Tinto, in July agreed to sell the majority of its stake in SouthGobi to Hong Kong- listed National United...
Mondelez CEO: Consumers' mood cautious Mondelez chairman and CEO Rene Rosenfeld, told CNBC's Sara Eisen that M&A has been a critical enabler for constructing the company's advantage portfolio and its brands are well positioned to deliver growth.
Facebook's 'virtual reality' Chris Cox, Chief Product Officer of Facebook, explained why its Oculus Rift acquisition will be a game changer for the company. CNBC's Julia Boorstin reports from Code Media in Dana Point, California.
Rio shuns Mongolia plan to swap Oyu Tolgoi equity for royalties LONDON, Feb 12- Global miner Rio Tinto is not interested in a proposal by Mongolia to cut its equity stake in key mines such as Rio's Oyu Tolgoi in exchange for more royalties, Chief Executive Sam Walsh said on Thursday. Mongolia hopes the plan will help to revive stalled foreign investment in large mining projects, but Walsh said Rio was not interested in buying a...
Here come the bears: EMs crisis brewing Despite recent solid gains, emerging markets are once again the subject of underweight calls, with some analysts predicting a full-blown crash.
| By: Nyshka Chandran
UPDATE 1-Mongolian "text referendum" backs mine investment over austerity ULAN BATOR, Feb 4- Mongolians voted in a "text message referendum" to back a multi-billion dollar expansion of the Oyu Tolgoi copper mine instead of tightening the cash-strapped country's budget to boost its ailing economy. Mongolia's new prime minister, Chimed Saikhanbileg, called for the unprecedented vote via mobile phone text message on whether to step up...
| By: Terrence Edwards