|"Open to Export" ICC WTO International business award||ICC WTO||London|
Baltania OÜ, a 100% owned subsidiary of Dutch private equity investment firm Momentum Capital, announced that it has made a conditional investment decision to commission an industrial-scale torrefaction bio-coal plant in Vägari, Estonia.
The project would be carried out together with the Baltic country's ministry of environment at a cost of approximately $53 million. Part of the initial investment will be funded by Momentum Capital and other venture capitalists and financial institutions. The European Union will provide a grant of about $30 million.
With the idea of supplying clean energy to utility companies in Nordic countries and Central Europe, the bio-coal plant will rely on a torrefaction technology developed by a Dutch company called Clean Electricity Generation. The goal is to produce and process approximately 160,000 tonnes of torrefied bio-coal pellets per annum.
The bio-coal pellets are obtained from forest residues and the idea is that they partially or fully replace fossil coal in electrical power or heat generation.
The production line includes CEG’s proprietary torrefaction reactor, syngas cleaning equipment (wet scrubbing) and commercial gas engines. The way it works is that syngas derived from the biomass is used to power the gas engines producing renewable electricity. Subsequent to power generation, the hot engine exhaust is used to heat the torrefaction reactor and supplement the biomass material drying. The reactors then utilize vibratory conveying technology to move material within its sealed components. Each reactor is coupled to a bespoke syngas cleaning system for the removal of tars and connected to a gas engine to create a reliable production line.
Although the process is similar to charcoal production, "it takes place in a much lower temperature environment that requires less exotic and less expensive materials, which results in biofuels with more favorable combustion properties, better mechanical and storage properties, and higher energy density," CEG states on its website.
According to Baltania, the energy density and grind-ability of renewable and sustainable bio-coal pellets are similar to thermal steam coal and significantly higher than that of white wood pellets or wood chips. This also means that logistic costs per tonne transported are lower.
The company expects that its plant helps revitalize the eastern town of Vägari by creating at least 30 jobs in production, 300 jobs in harvesting and logistics, and more than 200 temporary jobs during the construction phase.
Sonos is running a rare Black Friday sale that includes its new Alexa-enabled smart speaker www.businessinsider.com
While Black Friday is full of deals — you can see our favorite tech ones here — some stand out more than others. Sonos rarely discounts its speakers, but it's kicking off a holiday season sale today. Right now, you can save $50 on a Sonos PLAY: 1 or PLAY: 3, $100 on a PLAYBASE or PLAYBAR, and $25 on the Sonos One.
Although it's getting the smallest discount, the most significant deal being offered is on the Sonos One. The Alexa-enabled Sonos speaker was only released last month, but has gotten quite a lot of fanfare. The marriage between Sonos' connected speaker ecosystem and Amazon's Alexa smart home platform is very powerful. You no longer have to sacrifice audio quality for convenience, which was a big issue with the original Echo.
The One lets you control your smart home accessories and listen to your favorite music without a big compromise.
Unchanged since last year, the PLAY: 1 and PLAY: 3 are Sonos' entry and mid-range speakers. Each can be used individually, or paired with an additional PLAY: 1 or PLAY: 3 for stereo sound. I was able to try the PLAY: 1 for myself earlier this year, and now I understand why Sonos' speakers are so popular. Between their easy setup, surprising flexibility, and great sound quality, it's hard to recommend other speakers in their respective price ranges.
The PLAYBASE and PLAYBAR are Sonos' home theater solutions, and they have a lot in common. Both cost the same amount, can be paired with PLAY: 1 speakers and a Sonos SUB to create a full surround-sound system, and have been very well received. The PLAYBAR looks like a traditional soundbar and can be mounted, while the PLAYBASE is meant to sit directly underneath your TV.
All of these deals are well worth considering whether you've got Sonos speakers already or are looking to start your collection. The Sonos One, PLAYBAR, and PLAYBASE, will be discounted from November 24 through November 27, but the PLAY: 1 and PLAY: 3 will keep their lower prices as long as supplies last. Still, these speakers are so popular that you should act sooner than later.
On November 23, 2017, 969,358 shares of 32 firms listed as Tier I, II, and III were traded. 18 firms’ shares increased in price, 8 decreased and 6 remained unchanged. Juulchin Gobi JSC /JGV/ was the top performer, increasing 15.00 percent, whereas Material Implex JSC /MIE/ was the worst performer, decreasing 15.00 percent.
On the secondary market for government bonds, 130 bonds with a value of MNT12.9 million were traded.
On the secondary market for government bonds in block trading, 17,916 bonds with a value of MNT1.7 billion were traded.
The MSE ALL Index increased by 1.89 percent to stand at 1,257.51 points. The MSE market cap stands at MNT 2,413,489,557,901.
Facebook will let some of its users see if they interacted with Russian propaganda www.businessinsider.com
Facebook said on Wednesday that it would let some of its users see whether they liked or followed pages belonging to Russia-linked operatives that sought to sow political divisiveness around the 2016 US presidential election.
A new page to be published on Facebook's help center by the end of the year will show whether some accounts interacted with the Russia-linked accounts, Facebook said in a blog post.
"This is part of our ongoing effort to protect our platforms and the people who use them from bad actors who try to undermine our democracy," Facebook said.
Roughly 150 million Facebook users saw posts shared by pages belonging to the Russian propaganda organization known as the Internet Research Agency, Facebook previously told US investigators.
While Facebook will show some users the affiliated pages they liked or followed, the company maintains that technical and privacy reasons keep it from showing whether such propaganda was shown as a paid ad or as a post in the News Feed.
Facebook's move to disclose more about such activity on its platform to users follows Twitter's announced plan to create a public hub that allows anyone to see all ads running on its platform and how they are targeted. Facebook already announced plans to let users see who is behind ads run on its network, but Tuesday's announcement marks the first time the company committed to showing people non-paid posts affiliated with Russia.
Led by Tesla Inc., the U.S. solar asset-backed securities market has had a banner year, more than quadrupling from 2016.
Tesla deals account for $485 million of the more than $1.3 billion raised so far this year, according to Bloomberg New Energy Finance. Solar Mosaic Inc., an industry financier, has raised $466 million, followed by rooftop solar company Sunnova Energy Corp. with $255 million. The total last year was $321 million.
The uptick shows that the residential solar industry has become large enough for installers to monetize long-term consumer contracts by refinancing them in the capital markets.
The appeal of securitization is straightforward: it allows residential-solar companies to realize the value of their long-term consumer contracts by refinancing them in the capital markets. Accessing cash is especially important now, with installations contracting and mounting investor focus on profitability.
“The ABS market finally popped this year,” Nathan Serota, a New York-based analyst at Bloomberg New Energy Finance, said in an email Wednesday. “Newer entrants to the solar-finance space achieved sufficient scale to access the capital markets while established national solar firms are on the lookout for cash wherever it can be found -- and securitization is one way to bring money in the door,”
That Tesla leads the pack isn’t a surprise. Its energy unit, formerly known as SolarCity, has led every year since the solar-ABS market debuted in 2013, and it remains the biggest U.S. rooftop-solar company despite shedding market-share this year. What’s different now is that this is the first year that there have been more than two issuers, and the amount issued by Mosaic and Sunnova each has exceeded SolarCity’s previous annual high. Dividend Solar Inc. has rounded out the offerings this year with $129 million.
Still, the slowing market will probably mean lower ABS volume next year.
“Solar ABS issuance is a trailing indicator of residential installations,” Serota said. “Fewer systems installed, fewer contracts to securitize.”
The British finance minister says the UK is setting aside 3 billion pounds, or about 4 billion dollars, over the next 2 years in preparation for its exit from the European Union.
Chancellor of the Exchequer Philip Hammond announced this in his budget speech to parliament on Wednesday.
He said Brexit negotiations are entering a critical phase. Hammond stressed that securing free and frictionless trade with the EU is important for the economy and businesses.
He said the government is determined to prepare for "every possible outcome," suggesting the fund is being set aside in case Britain leaves without a free-trade deal with the EU, or if the country has to spend more on border controls after Brexit.
Hammond also announced that Britain has slashed its economic growth forecast for 2017 from 2 to 1.5 percent amid economic uncertainty in the run-up to Brexit.
He said that while many challenges lie ahead, Britain must seize new opportunities. He said that the UK will speed up the development of technologies that will form the backbone of the future economy, such as artificial intelligence and next-generation communications systems.
Oil traders and analysts almost unanimously expect OPEC and Russia to prolong their production cuts next week. However, behind the scenes Saudi Arabia and Russia are still debating what course to follow.
These high expectations, coupled with a recent surge in bullish bets on crude, amplify the risk to prices if the group can’t convince a hesitant Russia that it’s necessary to agree an extension right away.
“Anything but an extension supported by Russia would have a significant impact on the price,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. “Not least due to the near record-long oil bet, which has left little room for error in terms of the communication from the OPEC ministers.”
Oil climbed to a two-year high in New York on Wednesday in anticipation that the reduction in oil shipments from the Organization of Petroleum Exporting Countries and its allies would further diminish the glut that’s weighed on prices for three years. The cuts are a success, but the job isn’t done. To prevent the stockpile surplus expanding again, International Energy Agency forecasts indicate OPEC needs to maintain the cuts beyond their March expiry.
That’s what almost everyone expects to happen. All of the 36 analysts and traders surveyed by Bloomberg expected an extension, with another nine months of cuts the most popular prediction.
It’s also what OPEC’s largest and most powerful member wants. Last week, Saudi Arabia’s Energy Minister Khalid Al-Falih told Bloomberg television the group should announce an extension of the curbs in Vienna because surplus inventories won’t be eliminated by March.
Yet the dominant non-OPEC participant in the deal has reservations. Russia believes it’s too early to announce anything this month, two people with knowledge of matter said last week. Another issue was the duration of the extension, with options including an additional three months of cuts being considered, they said.
Kuwait, the fifth largest OPEC producer and a member of the committee that oversees the accord, also believes the decision to extend should be taken closer to expiry, said people familiar with the matter. Ministers from both nations set out that position publicly at their last meeting in Vienna in September.
Saudi Arabia has had “extensive” consultations with Russia and feels “fully convinced” that country will be “fully on board,” Al-Falih said last week. Most seasoned OPEC observers tend to agree that the group’s most powerful member will prevail.
“Despite the signs that the Russians may be having second thoughts, I think in the end they are going to agree on an extension,” but it’s not a slam dunk, said Mike Wittner, head of oil market research at Societe Generale SA in New York. The Saudis may not get the extra nine months of cuts they’re pushing for and “if they don’t do anything it will be a severe disappointment to the market.”...
(Bloomberg) — Wendy McElroy is ready for most doomsday scenarios: a one-year supply of nonperishable food is stacked in a cellar at her farm in rural Ontario. Her blueprint for survival also depends upon working internet: part of her money, assuming she needs some after civilization collapses, is in bitcoin.
Across the North American countryside, preppers like McElroy are storing more and more of their wealth in invisible wallets in cyberspace instead of stockpiling gold bars and coins in their bunkers and basement safes.
They won’t be able to access their virtual cash the moment a catastrophe knocks out the power grid or the web, but that hasn’t dissuaded them. Even staunch survivalists are convinced bitcoin will endure economic collapse, global pandemic, climate change catastrophes and nuclear war.
“I consider bitcoin to be a currency on the same level as gold,” McElroy, who lives on the farm with her husband, said by email. “It allows individuals to become self-bankers. When I fully understood the concepts and their significance, bitcoin became a fascination.”
At first glance, it seems counter-intuitive that some of bitcoin’s most ardent proponents are people motivated by the belief that public infrastructure will collapse in times of social and political distress. Bitcoin isn’t yet widely accepted as a method of payment and steep transaction costs make it inconvenient to use at vendors that do take it.
Preppers, as it happens, have a different perspective on what they see as the money of the future, which has surged 10-fold in the past 12 months as supporters lauded it as a digital alternative to rival the dollar, euro or yen.
Used to send and receive payments online, bitcoin is similar to payment networks like PayPal or Mastercard, the difference being that it runs on a decentralized network—blockchain—that’s beyond the control of central banks and regulators. It was born out of an anti-establishment vision of a government-free society, a key attraction for those seeking unhindered access to their capital in case a massive shock shuts down the banking system.
“Not too long ago, people in the prepper community were actively warning against crypto, and now they’re all investing in it,” said Tom Martin, a truck driver from Washington who runs a social-media website for people interested in learning skills to survive disaster. “As long as the grid stays up, people will keep using bitcoin.”
In addition to gold, silver and stocks, Martin invests in bitcoin and peers litecoin and steem because they’re easier to travel with, harder to steal and offer better protection in the event of the kind of societal breakdown that would unfold if a fiat currency like the dollar collapsed.
He’s among those confident that bitcoin can withstand even a complete blackout through the strength of the underlying blockchain, the anonymous public bookkeeping technology that records every single bitcoin transaction.
Discussions on the pros and cons of investing in crypto have popped up on survivalist forums like mysurvivalforum.com and survivalistboards.com this year as bitcoin rallied above $7,000. “Buy bitcoin” is now a more popular search phrase than “buy gold” on Google.
The buzz is starting to impinge on gold’s role as a store of value especially since, like the precious metal, there’s a finite supply of bitcoin, which proponents say gives it anti-inflationary qualities. Sales of gold coins from the U.S. Mint slid to a decade low in the first three quarters months of 2017.
“It’s definitely had some impact on the market,” Philip Newman, who does research on precious-metal coin sales and is one of the founders of research firm Metals Focus, said by phone from Washington. “People see bitcoin prices going to the moon. No one thinks gold is going to the moon.”
To attract investors who traditionally buy gold, several digital assets, like Royal Mint Gold and Anthem Gold, have been developed that are backed by physical gold stored in vaults.
Still, it’s hard to envision people walking around spending digital coins to buy Spam, canned beans or bottled water at a local supermarket when they don’t have electricity at home to charge their smart phones, let alone a working internet connection to access their digital wallets.
“I doubt bitcoin is a safe haven from an extreme-risk environment. In that sense, bitcoin isn’t gold,” said Charlie Morris, the London-based chief investment officer at Newscape Capital Advisors Ltd., which invests in cryptocurrencies and is building a price-discovery platform for them.
Bitcoin has also not reached the critical mass to be considered a viable currency to invest in, UBS Group AG’s Mark Haefele said in an interview. The total sum of all cryptocurrencies is “not even the size of some of the smaller currencies’’ that UBS would allocate to, he said.
Preppers, though, stock enough food and supplies to sustain them for months, if not years, and they expect whatever governing structure emerges post-calamity will prioritize getting the web back up and running.
“It may be difficult, if not impossible to access for a while, but once things start returning to some level of normality, then the blockchain will return as it was before the disaster,” said Rob Harvey, a bitcoin investor who prepares for natural and nuclear catastrophes by learning and teaching survival skills, like making a fire. “The blockchain does not need a specific place or a specific person to survive—that’s a strong survival tactic.”
“It is a people’s currency”
Interest in cryptocurrencies has started permeating the mainstream. When Morris surveyed hundreds of executives attending the London Bullion Market Association’s annual conference last month, one in 10 said they’d rather own bitcoin than gold following a nuclear war.
Along the fringe, the 20,000 libertarians expected to converge on New Hampshire as part of the Free State Project are also switching from precious metals. They like bitcoin because it isn’t created by a government, unlike conventional currency.
“You can use bitcoin for economic transactions in a way that gold was never designed to do because it’s a physical thing—it’s heavy,” Matt Philips, the project’s president, said by phone. “A lot of people don’t know what the heck to do with gold if you give it to them in exchange for a cup of coffee.”
Whatever doom-and-gloom scenario unfolds, McElroy, from Canada, has faith in bitcoin. She’s writing a book called Satoshi Revolution, inspired by the pseudonym of the person or people who created bitcoin in 2009 as an answer to the financial turmoil wrought by the global financial crisis.
She says the digital currency breaks society’s dependence on a state that uses its monopoly over the issuance of money to dominate the economy, making it a natural hedge against disaster.
“It is a people’s currency,” she writes in the book’s introduction. “Bitcoins move seamlessly through a world without states or borders, obeying only the command of individuals who choose to deal with each other. Immune to currency manipulation and inflation, they do not serve the powerful elites at the expense of average people.”...
Ulaanbaatar /MONTSAME/ State Secretary at the Ministry of Foreign Affairs D.Davaasuren led the Mongolian delegation to the 13th ASEM Foreign Ministers’ Meeting held on November 20-21 in Nay Pyu Taw, Myanmar.
The Meeting was attended by Foreign Ministers/ High-level Representatives of 51 Asian and European countries, the EU High Representative for Foreign Affairs and Security Policy and the Deputy Secretary-General for ASEAN Political-Security Community.
The Meeting convened under the theme ‘Strengthening Partnership for Peace and Sustainable Development’, providing the opportunity for ASEM partners to exchange views on relevant issues of common interests and explored most effective and efficient ways to create a stronger partnership between Asia and Europe for a future of shared, inclusive and sustainable growth and prosperity. The attending Ministers held fruitful discussions on a wide range of regional and international issues as well as global challenges.
During the meeting, State Secretary D.Davaasuren spoke about the 11th ASEM Summit held in Ulaanbaatar, Mongolia in July, 2016, under the theme ‘20 Years of ASEM: Partnership for the Future through Connectivity’ and the role of connectivity in productive cooperation between Asia and Europe. He also underlined the importance of connecting the two continents through not only ASEAN and the EU projects, but also non-ASEM programs and initiatives such as the Mongolia-China-Russia Economic Corridor.
On the sidelines of the Meeting, the State Secretary held bilateral meetings with heads of delegations from Russia, Poland, Romania and the Republic of Korea.
On November 22, 2017, 1,973,698 shares of 26 firms listed as Tier I, II, and III were traded. 13 firms’ shares increased in price, 8 decreased and 5 remained unchanged. Khunnu Management JSC /HBZ/ was the top performer, increasing 15.00 percent, whereas Tsagaantolgoi JSC /TSA/ was the worst performer, decreasing 9.09 percent.
On the secondary market for government bonds, 450 bonds with a value of MNT49.4 million were traded.
The MSE ALL Index increased by 1.54 percent to stand at 1,234.15 points. The MSE market cap stands at MNT 2,382,305,196,590.