|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
NHK has learned that 4 major state-owned banks in China took measures to restrict the financial transactions of North Korean citizens.
Sources familiar with the situation said that the banks sent a notification to the North's embassy in Beijing and its consulate general in Shenyang.
They said it demanded the bank accounts of all North Koreans, including diplomats, be emptied by the end of August.
Since then, financial transactions involving North Koreans are said to have almost ceased.
The sources added that North Koreans in principle aren't allowed to open new accounts.
It is rare for the Chinese banks to take such strict measures on North Korean diplomats, as even under UN sanctions each is allowed to open one account.
In June, the US government unilaterally punished a bank in Dandong, Liaoning Province, for allegedly facilitating the transfer of money for companies involved in the North's missile development.
The latest move is seen as China's attempt to show that it's taking a tougher line on the North.
However, it remains to be seen how much impact the measures would have on Pyongyang.
Many North Korean merchants in China are said to be doing business in cash or using the accounts of Chinese trading partners.
Northern China's leading coal base Inner Mongolia embraced its first dry port on September 7, local media reported, marking the inland region obtains a sea-rail intermodal transport channel from this time on.
A dry port (sometimes inland port) is an inland intermodal terminal directly connected by road or rail to a seaport and operating as a center for the transshipment of sea cargoes.
Located at Ordos Xinjuyuan Industry Chemical Company and co-built by China's large seaborne Tangshan port, the inland port can speed up customs clearance and reduce container handlings for coal cargoes from Inner Mongolia to the Bohai Rim port.
It's expected that Inner Mongolian coal cargoes can save three days to Tangshan port through the original route, and freight cost can be lowered by about 8 yuan/t.
Ordos Xinjuyuan Industry Chemical Company, invested by Inner Mongolia Tiexin Coal Chemical Group Co., Ltd. under Hohhot Railway Administration, is the largest coal transport company along Baoxi railway (Baotou-Xi'an), owing the biggest enclosed coal warehouse in Northwestern China, which can pile up 700,000 tonnes at most.
For the first time in its history, the US federal government has more than $20 trillion in outstanding debt.
The milestone was technically hit Friday, with the Treasury Department settling its accounts at the end of the day with $20,162,176,797,904 of debt outstanding. Of that debt, the Treasury said $14,622,661,213,046 is held by the public, while $5,539,515,584,857 is held by various parts of the government, also known as Intragovernmental Holdings.
The amount of debt held by the federal government had been stagnant since March due to the debt ceiling, or the statutory limit of debt the Treasury is allowed to hold at any one time.
Since the limit was reimposed in March, the Treasury used so-called "extraordinary measures" to keep the amount of debt at the roughly $19.84 trillion cap.
On Friday, President Donald Trump signed into law a bill that, among other things, suspended the debt ceiling until December 8. That means the Treasury can borrow freely until that date, when the outstanding amount becomes the new debt ceiling and extraordinary measures must begin again unless new legislation is passed.
That led to the roughly $317 billion jump in the amount of debt outstanding, likely to refill the Treasury's ability to use those extraordinary measures in three months if needed.
Given the jump in funding, the Treasury could hold out until at least sometime in early March on the extraordinary measures. If all falls right with corporate and individual income tax receipts, that could be extended through the summer of 2018, analysts say.
The Bank of Mongolia traded 595.2 billion MNT worth 1-week maturity central bank bill (“CBB”), with weighted average yield of 12.0 percent per annum. /For previous auctions click here/.
1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.
SEOUL (Reuters) - Samsung Electronics Co Ltd on Tuesday said pre-orders for its Galaxy Note 8 premium smartphone have hit the highest-ever for the Note series, beating its predecessor Note 7 over five days by about 2.5 times.
Samsung is banking on the device to protect its market dominance as it competes with Apple Inc’s latest iPhones due to be unveiled later on Tuesday. Note 8 sales begin in the United States, South Korea and elsewhere on Friday.
Pre-orders reached about 650,000 Note 8 handsets over five days from about 40 countries, making the initial response “very encouraging,” DJ Koh, president of Samsung Electronics’ mobile communications business, said at a media event.
The device succeeds the short-lived Note 7, whose battery fires resulted in Samsung pulling the device from the market after just a couple of months at a cost of billions of dollars.
Its reputation tarnished, the world’s biggest smartphone maker by market share nevertheless decided to retain the Note brand after a survey showed 85 percent of 5,000 Galaxy Note users expressed brand loyalty, Koh said.
The Note 8’s U.S. price of $930 to $960, including dialling and data plans, begins an era of premium-priced handsets which analysts expect to be joined by $1,000-plus iPhones.
Apple is widely expected to unveil a special edition iPhone commemorating 10 years of the handset, equipped with edge-to-edge screen and augmented reality, that will compete with the Note 8 for pre-holiday season sales in Western markets.
In China, the Note 8 is tasked with reviving fortunes in the world’s biggest smartphone market where local handset makers such as Huawei Technologies Co Ltd [HWT.UL], Oppo, Vivo and Xiaomi Inc [XTC.UL] reduced Samsung’s market share to 3 percent in April-June, showed data from Counterpoint Research.
Koh said it will take time to recover in China but expects changes this year such as appointing a new mobile chief, restructuring and focusing on key buyers to be effective.
Koh also said Samsung hopes to showcase a foldable handset next year but that technological hurdles must be overcome before a decision can be made.
“We are digging thoroughly into several issues we must overcome, as we don’t want to just make a few, sell a few and be done. We want to hear that Samsung made a very good product.”
Volkswagen, the world's biggest carmaker, will offer an electric version of all its 300 models by 2030, becoming the latest manufacturer to move away from petrol and diesel.
VW will double investment in zero-emission vehicles to 20bn euros (£18bn) as it seeks to put the diesel emissions scandal behind it.
The German firm plans to offer 80 new electric cars across the group by 2025.
It comes as Mercedes-Benz also promised electric versions of all its cars.
Mercedes chief Dieter Zetsche said the entire range would have electric or hybrid versions by 2022.
'Got the message'
However, VW is the first major carmaker to announce a big push into the mass-market with electric vehicles.
Speaking at the Frankfurt motor show, Volkswagen chief Matthias Mueller told the BBC the firm had "got the message".
"Customers want clean vehicles. People want to have clean air, and we want to make our contribution here," he said.
The German firm, whose brands include Seat and Skoda, also said it would place orders worth more than 50bn euros for batteries to power the cars.
The motor show comes at a difficult time for the industry, with VW and other German carmakers facing heavy criticism from the country's chancellor, Angela Merkel, over the diesel emissions scandal.
In the run-up to this month's election, Mrs Merkel said the car industry needed to regain the public's trust.
VW is confident its petrol and diesel engines are now clean, Mr Mueller told the BBC.
But he added that it could not drop combustion engines entirely yet because the infrastructure for electric vehicles was not in place.
"There will be a coexistence between internal combustion engines and electric drive systems for a certain period - I can't tell you how long that will be," he said.
Harald Krueger, chief executive of BMW, agreed there would be a transition period where combustion engines were still needed.
But he told the BBC that electric cars were "not just hype, this is the long-term trend".
On Tuesday BMW will unveil its first electric Mini, which will be assembled in Oxford and go on sale in 2019.
The moves from BMW, VW, Mercedes and other carmakers come as a growing number of countries are announcing plans to ban new diesel and petrol cars.
China, the world's biggest car market, became the latest to signal such a shift over the weekend, although it did not set a date.
Both the UK and France have already announced plans to ban new diesel and petrol vehicles by 2040, as part of efforts to reduce pollution and carbon emissions.
Meanwhile, Shell said it would install its first electric car charging point in the UK later this month.
Mongolia Growth Group Ltd (MNGGF) have climbed higher over the course of the past week revealing positive upward momentum for the shares. In taking a look at recent performance, we can see that shares have moved 1.03% over the past week, 6.55% over the past 4-weeks, 19.59% over the past half year and -16.05% over the past full year.
Traders may be narrowing in on the ATR or Average True Range indicator when reviewing technicals. At the time of writing, Mongolia Growth Group Ltd (MNGGF) has a 14-day ATR of 0.01. The average true range indicator was created by J. Welles Wilder in order to measure volatility. The ATR may assist traders with figuring out the strength of a breakout or reversal in price. It is important to note that the ATR was not designed to determine price direction or to predict future prices.
Some investors may find the Williams Percent Range or Williams %R as a helpful technical indicator. Presently, Mongolia Growth Group Ltd (MNGGF)’s Williams Percent Range or 14 day Williams %R is resting at -56.67. Values can range from 0 to -100. A reading between -80 to -100 may be typically viewed as strong oversold territory. A value between 0 to -20 would represent a strong overbought condition. As a momentum indicator, the Williams R% may be used with other technicals to help define a specific trend.
Investors may use multiple technical indicators to help spot trends and buy/sell signals. Presently, Mongolia Growth Group Ltd (MNGGF) has a 14-day Commodity Channel Index (CCI) of -30.99. The CCI was developed by Donald Lambert. The assumption behind the indicator is that investment instruments move in cycles with highs and lows coming at certain periodic intervals. The original guidelines focused on creating buy/sell signals when the reading moved above +100 or below -100. Traders may also use the reading to identify overbought/oversold conditions.
The Average Directional Index or ADX is a popular technical indicator designed to help measure trend strength. Many traders will use the ADX in combination with other indicators in order to help formulate trading strategies. Presently, the 14-day ADX for Mongolia Growth Group Ltd (MNGGF) is 14.71. In general, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend. The ADX alone was designed to measure trend strength. When combined with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI), it can help decipher the trend direction as well.
Taking a peek at some Moving Averages, the 200-day is at 0.27, the 50-day is 0.29, and the 7-day is sitting at 0.30. The moving average is a popular tool among technical stock analysts. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. Moving averages can be very useful for identifying peaks and troughs. They may also be used to help the trader figure out proper support and resistance levels for the stock....
Canada's Centerra Gold (TSX:CG) on Monday said it had reached a comprehensive agreement with the Kyrgyz Republic in its drawn out environmental dispute over the firm’s Kumtor gold mine.
The settlement agreement would end mutual lawsuits, drop all environmental claims , halt court proceedings and allow Toronto-based Centerra to transfer funds from the country that had been frozen by the central Asian nation.
Shares in Centerra climbed as much as 3% in morning trade in Toronto Monday. Gains for the stock since news of a deal first leaked last Wednesday now total more than 20% affording the company a market value of over C$2.6 billion on the TSX.
Centerra said that is in the process of transferring the cash held by its local subsidiary, Kumtor Gold Company (KGC) – nearly $300m by some estimates – that is over and above KGC's working capital requirements. All restrictions on the movement of Centerra employees have also been lifted.
Under the agreement Centerra will pay US$50m to a so-called Nature Development Fund and make annual contributions to the fund to $2.7m. A cancer care fund set up by the government will receive a further $10m from the company.
Centerra will also invest $6m annually in a Kumtor reclamation fund based inside the country to a minimum of $69m. That figure broadly matches the company's own estimate of the site's total rehabilitation costs.
The Kyrgyz government owns just under a third of Kumtor and the mine contributes nearly 10% of the country's GDP. The miner, the largest Western-based gold producer in Central Asia, successfully sought international arbitration in May last year, following the Kyrgyz Republic’s string of penalties, fines, accusations of environmental damage and violation of business deals.
Last year a Kyrgyz court ordered KGC to pay about $98m in fines related to mine waste while another government body filed a $230m lawsuit against the firm.
Kumtor, which lies near the Chinese border at an altitude of 4,000 metres, has produced around 11m ounces since inception and remaining reserves are pegged at 5.6m ounces. In November Centerra said it was increasing its gold output guidance for the mine to 525,000 to 555,000 ounces and lowering all-in sustaining cost forecast to $751 – $795 per ounce.
Centerra has been shopping for assets in other jurisdictions and last year acquired US-based Thompson Creek Metals (TSX:TCM), picking up the Mount Milligan copper-gold mine in British Columbia, Canada, in a $1.1 billion deal.
The share of ecologically ‘clean’ vehicles sold in Russia has reached 40 percent, according to the latest research by the International Energy Agency (IEA) seen by Russian media.
The figure is similar to that in Australia, China, and Mexico. The sales of eco-friendly vehicles in the US make up 35 percent of overall sales.
The agency report seen by daily Izvestia reveals that in Russia the number of new passenger cars with carbon dioxide (CO2) emissions less than 180 grams per kilometer has significantly risen since 2005.
At the same time, sales of vehicles with carbon CO2 emissions of higher than 240 grams per kilometer dropped to 10 percent from 20 percent within the period.
Sales of passengers cars with the prevailing CO2 emission of up to 240 grams per kilometer have also seen a drastic fall from 70 percent to 50 percent.
Vehicles sold in Russia are becoming more eco-friendly due to tougher environmental requirements from state regulators, according to the analytical agency Autostat. The analysts say state standards for engines have been drastically changed over the last ten years.
Ulaanbaatar /MONTSAME/ A total of 30 thousand tons of coal has been transported by freight trains in a route from Ulaanbaatar to Baganuur district. The freight trains were assembled by Mongolians engineers.
Last June, the Minister of Road and Transport Development commissioned the train assembling workshop as well as the newly-assembled trains in cooperation with Ulaanbaatar Railway Joint Venture Company and private entities. As of today, the workshop has assembled a total of five freight trains and two platform trains, and they already put into transport use. Since June 2016, the domestically-assembled trains have transported 30 thousand tons of coal via the Ulaanbaatar-Baganuur route.
The workshop plans to assemble 20 units of semi-platform trains, five platform-trains in this year. By preliminary specifications, the trains assembled by Mongolian engineers have the maximum freight capacity of 72 tons, the storage volume is 88 cubic meters and they speed up to 120 kilometers per hour.
In regard of the quality, the lifespan of trains imported from Russia and China ranges from 20 to 25 years, while the trains assembled in Mongolia could be used for 30-32 years. If the investment issue is tackled, Mongolia will have possibility to assemble 80 freight trains a year.