1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20    

Events

Name organizer Where
Frontier's "Invest Mongolia Tokyo 2018" Frontier Securities Tokyo Japan
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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‘War on coal is over’: EPA scraps Obama-era clean power plan www.rt.com

The Trump administration has put another nail in the coffin of former President Barack Obama’s climate change legacy by withdrawing from the 2015 Clean Power Plan intended to reduce greenhouse gas emissions.

"Regulatory power should not be used by any regulatory body to pick winners and losers," said the head of the Environmental Protection Agency Scott Pruitt Monday, announcing he will sign a new rule rescinding the Obama-era plan. The Clean Power Plan was designed to prompt a shift away from coal-fired power and toward cleaner energy sources, like natural gas, wind and solar.

"The war on coal is over,” Pruitt declared in Hazard, Kentucky, echoing President Donald Trump’s campaign promise to support the American coal industry.

While the coal miners celebrated the news, the administration’s critics blasted the decision.

"By saving an estimated 240 million tons of annual coal production, the administrator’s action helps to safeguard more than 27,000 mining jobs and almost 100,000 additional jobs throughout the supply chain," Hal Quinn, CEO of the National Mining Association, said in a statement.

The move by Trump’s EPA is "a wholesale retreat from EPA's legal, scientific and moral obligation to address the threats of climate change," said Gina McCarthy, Obama’s former EPA administrator.

"They’re adding more pollution into our air and threatening public health at a time when the threats of climate change are growing and the costs are growing immeasurably higher on our children and their future," McCarthy added.

The Clean Power Plan was key to Washington’s implementation of the Paris agreement on climate change, from which Trump withdrew in June. It aimed to reduce US power industry’s carbon dioxide pollution levels 32 percent below the 2005 levels by 2030.

The current EPA chief, who has repeatedly questioned the human role in climate change, sued the environmental agency in 2015 in an effort to block the Clean Power Plan. He argued that EPA overstepped its legal authority by saddling the fossil-fuel industry with unnecessary regulations. Pruitt sued the EPA 13 other times in his capacity as Oklahoma’s attorney general for the agency’s efforts to regulate mercury, smog and other forms of pollution.

Since taking office, Trump has set in motion a number of actions aimed at reversing clean air and water regulations. In February, he nixed a rule that stopped mining companies from dumping waste into streams, and in March, Pruitt said he would stop collecting methane emissions from 15,000 oil and gas operations.

In May, the White House budget proposal cut the EPA’s funding by over 31 percent.

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Tsetsii wind farm launches www.mongolia.gogo.mn

ULAANBAATAR (GoGo Mongolia) - On Oct 6, Clean Energy Asia LLC together with its shareholders, Newcom LLC and SB Energy Corp., successfully launched operations of a 50MW wind farm in southern Mongolia.

Clean Energy Asia LLC commenced the construction of the Tsetsii wind farm in Sep 2016. Within one year, the company completed the installation of 25 wind turbines, the construction of Tsetsii substation and its 32 km long air transmission lines. 
The project has completed three months earlier than planned and nearly 500 employees have worked for the construction, of which 95% were Mongolians.
Located in Tsogttsetsii soum, Umnugobi province, the 50MV wind farm was financed by the debt of Japan International Cooperation Agency (JICA) and the European Bank for Reconstruction and Development (EBRD). Mongolia is the first country to sign a memorandum with Japan on the Joint Crediting Mechanism (JCM) to reduce greenhouse gas emissions.
Mongolia faces great challenges in meeting its growing demand for electricity, almost all of which is currently met by aging and polluting coal-fired plants. The wind farm will help supply Mongolia’s power demand with clean, eco-efficient electricity by harnessing Mongolia’s vast and inexhaustible wind resources. The project will help contribute to the sustainable economic development and the mitigation of climate change.
Mongolia has a power-supply capacity of 1130MW, consisting of 88% coal, 6% diesel, 6% renewable energy, and 2% hydropower sources (Department of Energy, Mongolia, 2015). While being the world’s eighth country most susceptible to climate change (Climate Risk Index. Source: GERMANWATCH “Global Climate Risk Index 2014”), electricity supply-demand balance along with its economic growth is an urgent issue for Mongolia; accordingly, Mongolia is a country that particularly requires safe and secure power sources such as renewable energy. The State Great Khural approved a national power policy in 2015 that sets Mongolia’s mid-to-long term target and plan for 2015-2030 in the energy sector. The policy aims to increase the power generation share of renewable energy to 20% by 2020 and to 30% by 2030, and it stipulates the promotion of investment in the energy industry in cooperation with international financial institutions and donor countries, utilizing the abundant wind and solar resources in the Gobi region. 
The Tsetsii wind farm is estimated to reduce greenhouse gas emissions by approximately 230,000 tons per year while saving 180,000 tons of coal and 1.2 million tons of water per year.
In these circumstances, this Tsogttsetsii wind farm project will help contribute to the increased adoption of renewable energy in Mongolia.

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S.Amarsaikhan elected Chairman of Citizens' Representative meeting www.montsame.mn

Ulaanbaatar /MONTSAME/ The Citizens’ Representative Khural (Council) of Ulaanbaatar elected Amarsaikhan Sainbuyan as the chairman of the Council during its regular meeting on October 9.

21 representatives out of 41 or 51.2 per cent of them at the meeting voted for S.Amarsaikhan, while 19 representatives or 46.2 per cent voted for D.Bayarsaikhan.

On September 22, the Council dismissed former chairman Ts.Sandui in his request. Ts.Sandui put to MPP Steering committee a resignation letter from the post of the meeting chairman and chairman of MPP committee of the capital on August 31.

The City Council members D.Bayarsaikhan and S.Amarsaikhan were nominated the post, but they both got equal vote and MPP group in the Council took a break, postponing the re-voting.

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BOM issues 1-week bills www.montsame.mn

Ulaanbaatar /MONTSAME/ The Bank of Mongolia traded 680 billion MNT worth 1-week maturity central bank bill (“CBB”), with weighted average yield of 12.0 percent per annum. 

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.

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PM U.Khuresukh receives congratulatory letters from his Russian and Chinese counterparts www.montsame.mn

Ulaanbaatar /MONTSAME/ Prime Minister of Russia Dmitry Medvedev and Prime Minister of China Li Keqiang sent congratulatory letters to U.Khurelsukh on assuming his duty of Prime Minister of Mongolia.

In his letter, the Russian Prime Minister congratulated U.Khurelsukh and remarked on the friendly partnership between the two countries.

“I am confident that development of bilateral trade and economic cooperation and implementation of mutually beneficial projects in investment, transport, energy, agriculture and other sectors will meet the long-term interests of our two countries,” Prime Minister Medvedev wrote.

The Chinese Premier congratulated Prime Minister U.Khurelsukh on being appointed as the new PM of Mongolia and said, “China and Mongolia are friendly neighbors connected by mountains and rivers,”

“China is ready to prioritize bilateral relationship, put collaborative efforts, increase political trust, intensify bilateral relationship and concrete cooperation in all sectors and upgrade China-Mongolia comprehensive strategic partnership to a new level,” the Premier said in his letter.

The Parliament appointed last Thursday U.Khurelsukh as the 30th Prime Minister of Mongolia, succeeding J.Erdenebat.

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MBD business program in London UK (Nov 28-Dec 03 2017) www.mongolianbusinessdatabase.com

Mongolian Business Database MBD (www.mongolianbusinessdatabase.com) is registering the business participants to Mongolian-British Chamber of Commerce and Industry's "Doing Business with Mongolia" seminar in London on Nov 30 and business program which includes the visiting to AI Tech World Expo, World Communication Expo and British House of Parliament etc.

The MBCC (http://mongolianbritishcc.org.uk) is a not-for-profit membership organisation established in 2009 to foster strong business links between Mongolia and the UK. Chaired by Mr John Grogan British Parliament member, it aims to provide a professional and social environment for business people who wish to be introduced to, and become part of, the British-Mongolian business culture and community.
Please visit to following link for information in details and contact at contact@mongolianbusinessdatabase.com e mail, 99066062 for the registration and inquiry.

http://mongolianbusinessdatabase.com/base/eventsdetails…

The registration will close on Oct 20, Friday. 2017

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E-car segment revs up to push throttle full forward www.chinadaily.com.cn

Potential end to sales of gasoline cars in China could benefit makers of electric cars, and suppliers of spare parts and power management solutions in the long run, analysts said.

In fact, ever since talk started about a gradual shift to e-vehicles, shares in e-car companies fluctuated significantly.

Policymakers have been hinting at a possible timeframe soon for phasing out cars that use gasoline as fuel from the China market.

For instance, Xin Guobin, deputy head of the Ministry of Industry and Information Technology, said at a news conference in early September that authorities are studying a timetable for stopping sales of gasoline cars in China.

At another conference on power and battery development, Xin said that the development of high-efficiency special batteries is key to the development of e-vehicles in China.

Wang Chuanfu, president of BYD, China's largest e-car maker, said in a recent interview that he estimated sales of gasoline cars will likely end in 2030.

According to Wind Information Technology, a market information provider, investors may have traded in shares of e-vehicle makers to the tune of 2 billion yuan ($301.6 million) to 5 billion yuan in the last two weeks of September, in the run-up to the week-long National Holiday.

Shares in e-car market leaders and battery suppliers outperformed other auto industry labels. For instance, shares in Shenzhen-listed BYD, rose almost 44 percent from 48.29 yuan on Sept 1 to 69.51 yuan on Sept 27.

According to a report by China International Capital Corporation Limited or CICC, large-scale production of e-vehicles and a bigger market share in the overall mobility market are inevitable in the next few years.

"Ending sales of gasoline cars is a global trend, and China is not going to fall behind," the report said.

Norway and the Netherlands have announced they will end sales of gasoline cars in 2025. Germany and India will do so in 2030, and the UK and France in 2040.

Sales revenue of e-vehicles in China has been growing fast. Policymakers are setting ambitious goals for further expanding the market share of such vehicles in the entire mobility sector.

In 2016, e-vehicles accounted for some 1.8 percent of all vehicles in China. A plan set by MIIT said their market share shall be increased to 5 percent in 2020 and 20 percent in 2025.

Sales volume of e-vehicles is estimated to climb from 507,000 units in 2016 to 2 million in 2020 and further grow to 5 million in 2025.

Policies will encourage purchase and use of e-vehicles in China. For example, buyers would be offered free car plates in megacities. In contrast, gasoline car owners may need to pay more than 80,000 yuan for a plate at auctions in Shanghai.

Such incentives will likely further help increase market share of e-vehicles, said a bluepaper on the China market by Fitch Ratings.

In the longer term, however, development of e-vehicles in China depends on battery technology improvements and infrastructure like charging networks, said the paper.

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Russia, Saudi Arabia earned $40bn each from OPEC output-cutting deal – state investment fund head www.rt.com

Russia and Saudi Arabia have each earned $40 billion from the 2016 deal between OPEC and non-OPEC countries to cut oil output, said Kirill Dmitriev, CEO of the Russian Direct Investment Fund.

International efforts to stabilize oil prices “have been fruitful, bringing oil prices to above $55 per barrel,” Dmitriev told Rossiya 24 news channel.

“We believe that without this deal, prices would be below $35 per barrel now,” he added.

Dmitriev praised the 2016 agreement, saying it “generated trust between nations and showed that by working together we can achieve meaningful, serious results.”

Saudi Arabian Energy Minister Khalid Al-Falih, who was in Moscow together with other officials accompanying King Salman on his landmark Russian visit earlier this week, also said that the deal between OPEC and non-OPEC countries had helped to stabilize oil prices.

The minister also said that cooperation between Riyadh and Moscow had “breathed back life into OPEC which found itself, quite frankly, unable to swing its production as supply was persistently high in 2014 and global inventories were steadily rising ahead of demand.”

The deal has been prolonged until April 2018, but its future after that remains uncertain.

Earlier this week, Russian President Vladimir Putin suggested that the accord may be extended until the end of next year.

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Airbnb paid £188,000 in UK tax last year www.bbc.com

Airbnb, the accommodation website, paid less than £200,000 in UK corporation tax last year despite collecting £657m of rental payments for property owners.

The commissions the company earns in the UK are booked by its Irish subsidiary, but it also has two UK subsidiaries.
One unit made a pre-tax profit, but the other did not incur UK corporation tax because deductions resulted in a loss.
Airbnb said in a statement: "We follow the rules and pay all the tax we owe."
One of the British subsidiaries, Airbnb Payments UK, handles payments between landlords and travellers for countries other than the United States, China and India.
That unit made a pre-tax profit of £960,000 and paid £188,000 in UK corporation tax - £8,000 less than in 2015.
The other British subsidiary, Airbnb UK, markets the website and app to British consumers. It reported a £463,000 pre-tax profit last year but because it gave shares to staff, which are tax-deductable, there was no corporation tax bill.
Airbnb said: "Our UK office provides marketing services and pays all applicable taxes, including VAT. The Airbnb model is unique and boosted the UK economy by £3.46bn last year alone."
The tax arrangements of other technology giants have come under under closer scrutiny in recent years.
One of the most vocal critics has been EU competition commissioner Margrethe Vestager. She has taken aim at the likes of Apple, Amazon and others for where they book the revenues and profits of their European activities.
Bruno Le Maire, the French finance minister, has also asked why Airbnb paid tens of thousand of euros in French corporation tax despite a turnover in the millions.
The company, founded in San Francisco in 2008, has disrupted the hotel industry by linking travellers with landlords who generally want to rent out a spare room or an entire property for short-term stays.
It has become one of the most successful examples of the digital economy, with an estimated value of about $24bn.
However, Airbnb has faced a growing backlash in cities including Barcelona, Berlin and Paris, where politicians have taken steps to stop landlords renting properties to tourists rather than local residents.
While Airbnb has long been linked with a stock market listing, it remains privately owned.
It takes a 3% commission from landlords for each booking, and also charges fees to travellers.
In the UK last year Airbnb catered for 5.9m travellers and had 168,000 listings.

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Seko seeks renewal of concessions in Abu Dhabi www3.nhk.or.jp

Japanese trade minister Hiroshige Seko has asked Abu Dhabi National Oil Company to renew a Japanese firm's concessions in Abu Dhabi oil fields. The concessions are set to expire in March next year.

Seko met with Abu Dhabi National Oil Company CEO Sultan Ahmed Al Jaber on Sunday in the United Arab Emirates.

Japan relies on the UAE for a quarter of its crude oil imports. The Japanese firm has a 12-percent stake in the UAE's main offshore oil fields.

The national oil enterprise is aiming to increase the number of its clients. It has been negotiating with more than 10 companies, including those from China and France.

These companies are working to enter the market, or expand their share of oil concessions.

As the competition over oil fields intensifies, Japan's negotiations with the UAE are expected to reach a crucial point around the end of this year.

During this trip, Japanese delegates have concluded a memorandum with the Abu Dhabi National Oil to allow the country to cooperate in the company's plan for overseas and other projects.

After the talks, Seko told reporters that Abu Dhabi officials have shown a certain degree of appreciation for Japan's sincere contribution. He said the future of the negotiations remains uncertain.

Seko said he will work hard with the private sector in such areas as cooperating with the local industry in its diversification.

He also expressed hope that the UAE will further appreciate Japan's dedication.

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