The government of Mongolia signaled on Monday it will not abide by an international tribunal’s order to pay more than US$100 million to Canadian uranium explorer Khan Resources Inc., whose chairman died suddenly while in the country meeting with officials over repayment plans last week.
“The Mongolian government, in order to protect its own interests, will work for the invalidation of the arbitration award,” a statement by the justice minister, dated Monday, said.
Submitted by Stephen Blank via The Diplomat, China has certainly been busy since it won observer status at the May Arctic Council summit in Kiruna, Sweden. First, Yu Zhengasheng, Chairman of China’s Political Consultative Conference, visited Finland, Sweden and Denmark with an eye to boosting general trade and cooperation, particularly in the Arctic.
George Weston’s net earnings dropped significantly in Q4 of 2012. In the last 12 years the annual return of China’s Social Security Fund reached at 8.4%. Beijing Enlight Media Co announced its annual revenue for 2012 of 1.03 billion yuan or $165.5 million. German group IG Metall expects to reach a deal with GM’s Opel branch next week.
Facebook-owned WhatsApp continues to grow its user base at a breakneck pace. The messaging app has hit the 500 million global monthly active user (MAU) milestone, according to data shared by the company. That's up from about 430 million MAUs reported in January.
By Doug Young:Thank goodness! That's my first and main reaction on reading that after years of negotiations, Apple (Nasdaq: AAPL) and China Mobile (HKEx: 941; NYSE: CHL) have finally announced their highly anticipated deal to sell the iPhone on the 3G and 4G networks of China's dominant telco.
By Income Hunter:Rio Tinto's (RIO) business in Mongolia has never been smooth, and the recent arrest of an employee only seems to make matter worse. However, Rio Tinto's tumultuous presence in Mongolia may not necessarily be a liability for the company, and I have reasons to believe that recent incidents in Mongolia will not affect the company's fundamentals in a negative way.