|“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ||Mongolian Business Database||London UK|
|SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA||The Center for American and International Law (CAILAW)||Plano Texas June 17-18 2019|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
Cabinet held an extended irregular meeting last Friday to review the actions on air pollution reduction and made relevant decisions, including the transfer of State ownership stakes of Tavan Tolgoi Fuel LLC, which is producing enhanced fuel as raw coal consumption will be banned next year.
At the meeting, the Cabinet decided to transfer the stakes of Tavan Tolgoi Fuel LLC to be held by the State to Ministry of Mining and Heavy Industry and Ministry of Energy. Accordingly, the related ministers are now responsible for the annual production of 600,000 tons of enhanced fuel, monitoring the supply and reporting the results to the Cabinet.
Ministers were also ordered to install advanced technology and equipment of deep processing coal in order to create reserves and manufacturing international-standard enhanced fuel. A study determined the annual consumption of enhanced fuel in Ulaanbaatar city to be 600,000 tons. Erdenes Tavan Tolgoi JSC will be responsible for financing the necessary funds under a strict monitoring of law enforcement in a publicly transparent manner.
Tavan Tolgoi Fuel LLC currently has 8,099 tons of enhanced fuel reserves and is expected to manufacture 600,000 tons by September 15, 2019.
As a pilot run, the early production was sold to 1,876 households of 28th khoroo of Sukhbaatar district, conducting several surveys. The study found that the product has already created demand as users had positive feedback for the fuel.
Additionally, the Cabinet further reviewed other actions on air pollution reduction. As exempted from customs duty, over 2,300 air purifiers and energy-efficient heaters were imported this year. A total of 862 air purifiers were installed at 142 medical centers, district hospitals and children’s cabinets of maternity hospitals under the Ulaanbaatar Clean Air Project, as well as another 5,200 air purifiers from the State Budget. As a result, PM 2.5 components in the air reduced by 13-29 percent in hospitals.
According to officials, 45 stoves and 68 boilers were dismantled in the last one year, and by connecting 10 stoves to district heating network, raw coal consumption was reduced by 70,000 tons, PM2.5 emission by 510 tons and sulfur emission by 560 tons.
Enhanced fuel has already created demand as users had positive feedback in early production
Report shows that MNT 8.3 billion was spent on night-time electricity discounts for 118,000 households of ger districts and about 15 percent of total households in ger districts have shifted to electrical heating appliances within the last one year. Furthermore, technical capacity of providing 4 kWt electrical heating appliances to 421,000 households have been completed so far.
Six entities have been selected to supply 80,000 tons of enhanced fuel to over 26,000 households in Songino khairkhan district. This is estimated to cut raw coal consumption by 150,000 tons and PM2.5 emission by 150 tons.
Around 65,000 children and 117,000 children of target group were included for influenza vaccinations and necessary changes were made to student holiday schedules.
The Cabinet also informed that MNT 1 billion worth financial support was granted to seven provinces with the highest pollution, which allowed them to prepare Air Pollution Reduction Program and set the areas in need for air quality improvement....
The Japanese government has approved a set of policy measures to make it easier for foreigners to live and work in Japan.
The package approved Tuesday is in line with a revised immigration law set to take effect in April marking a major policy change. Residential status now available only to high-skilled workers will become available to a much wider range of lower-skilled workers.
The measures include ones to prevent brokers from taking unfair advantage of foreign workers. To alleviate a labor shortages in rural areas, checks will be put in place to prevent an excessive concentration of foreigners in cities.
Up to 345,000 foreign workers are set to be allowed into 14 sectors of the economy over a five-year period starting in April. The limit will stay in place until economic needs change.
Among the 126 specific measures in the package are provisions for multilingual support in public services.
A Japanese-language proficiency test required for the new visa status will be offered in nine countries: Vietnam, the Philippines, Cambodia, Indonesia, China, Thailand, Myanmar, Mongolia, and Nepal.
To prevent a concentration of workers in cities, the government will periodically announce information on the number of foreign workers in different regions and sectors.
This announcement is made by SouthGobi Resources Ltd. (the “Company”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The Company is in default under the convertible debenture between China Investment Corporation (“CIC”) and the Company signed in November 2009 (the “Convertible
Debenture”) as a result of the Company having now been suspended from trading on the Toronto Stock Exchange (“TSX”), halted from trading on the Hong Kong Stock Exchange, for a period of more than 5 trading days since December 17, 2018. Trading on the TSX will
remain suspended until clarification regarding the business and affairs of the Company is announced and trading on the SEHK will remain halted pending the publication of an insider information announcement.
Pursuant to the terms of the Convertible Debenture, CIC may, at its discretion, provide notice to the Company and declare all principal, interest and other amounts owing under the Convertible Debenture immediately due and payable, and take steps to enforce payment
thereof, which would have a material adverse effect on the business and operations of the Company and the value of the Company’s common shares could be materially and negatively affected.
- 1 -
* For identification purposes only
The Company and CIC are having active and close discussion on the issues related to the
Convertible Debenture and the deferral agreement executed on June 12, 2017. As of today,
the Company has not received any such notice from CIC to demand any payments nor
declare any outstanding balances immediately due and payable, as a result of the above
mentioned trading suspension and trading halt and other event(s) of default.
The Company will provide further updates of the status of this matter as appropriate.
South Korea invited officials from China, Russia and Mongolia to attend the commencement ceremony of inter-Korean railway docking www.qknews.com
Overseas Network Dec. 24 - Dec. 26, the commencement ceremony of the inter-Korean railway and highway docking project will be held at Banmen Station in Kaesong, Korea. According to Yonhap News Agency on the 24th, South Koreas Unification Ministry said the ceremony was attended by eight officials from China, Russia, Mongolia and the United Nations, in addition to Zhao Mingjun, Minister of Unification, Kim Hyun-mei, Minister of Land and Transport, and Li Shanquan, Chairman of the Peaceful Reunification Commission of the Korean Motherland. Reported that the above eight overseas people attended the ceremony at the invitation of the Korean side.
Reported that, in addition to sending Zhao Mingjun and Kim Hyun-mei, the head of the ruling Common Democratic Party, Li Haijuan, and other members of the party whip, personnel responsible for inter-Korean relations and railway, highway work, and separated family members will attend.
On October 25, South Korean soldiers were on duty at the railway border in the demilitarized zone/New Zealand News Agency
It is reported that the Korean government will run nine special trains to and from Seoul Station and Panmun Station for the participants.
In addition to Li Shanquan, the DPRK delegation also attended by Fang Gangxiu, chairman of the National Economic Association Committee, Park Mingzhe, Deputy Minister of Railway, Park Haoying, Deputy Minister of the Ministry of Land and Environmental Protection, and Cui Binglie, chairman of the Kaicheng Peoples Committee.
DPRK and ROK personnel jointly inspect the railway/ROK Unification Ministry in DPRK
Korea and the DPRK Promote Railway and highway cooperation with a view to implementing the September Pyongyang Joint Declaration. On September 19, North Korean Supreme Leader Kim Jong-un met with South Korean President Wen Jae-in in Pyongyang and signed the declaration, reaching agreement on promoting the process of denuclearization of the peninsula, strengthening North-South exchanges and cooperation, and building the peninsula into a permanent peace zone.
The two sides held high-level talks on railway and highway cooperation on many occasions. On November 30, the DPRK and the ROK docked trains at Panmun Station, launching a joint inspection of the North Korean section of the Jingyi Railway on the west coast of the Korean Peninsula; starting on November 8, the East China Sea Railway on the east coast was inspected for a period of 10 days; on December 13, DPRK and ROK officials met at the Kaesong Industrial Park and agreed to hold a ceremony for the commencement of the North-South Railway and Highway docking and modernization project on December 26.
Source: Overseas Network Responsible Editor: Jike_b6492
The total volume of Chinese imports is going to set a fresh record this year, exceeding the two trillion dollar level, according to Song Xianmao, a senior official at China’s Ministry of Commerce.
Song added that Beijing is planning to step up efforts to boost the quality of foreign trade and further expand imports.
In 2018, Chinese authorities have lowered import tariffs on a wide range of vital goods including drugs, cars and daily necessities. The total tariff level has been reportedly reduced from 9.8 percent to 7.5 percent.
China’s year-on-year imports grew 14.6 percent from January through December of the current year, according to the latest data from the country’s General Administration of Customs (GAC), as quoted by the state media.
The top official said that the government is currently working on measures that would be able to provide imports of advanced technologies, agricultural produce, as well as consumer goods and services.
Moreover, Beijing will reportedly keep on decreasing import tariffs, ease customs procedures and significantly improve policies on importing vehicles.
The government is reportedly planning to promote the imports such services as architectural design, trade logistics, research and development design, energy conservation and environmental protection, as well as to improve industrial competitiveness.
On Monday, the Finance Ministry announced plans to remove current import tariffs of five percent applied to alternative meals, used in animal feed, which include rapeseed meal, cotton meal, sunflower meal and palm meal. The measure will come into effect on January 1.
As the trade war with Washington intensified China practically stopped buying US soybeans after applying a 25 percent tariff on the product. The move has caused a stir at the global soy market.
Since Beijing resumed some purchases of soybeans from the US, and the removal of tariffs on alternative meals could reportedly help to improve the reliability of the supply of animal feed meal in China.
Anglo-Australian miner Rio Tinto is preparing to take its Iron Ore Company of Canada business public in the first half of 2019 by dual-listing it in New York and Toronto, people familiar with the situation told Reuters.
The company has hired investment banks Royal Bank of Canada, Credit Suisse and JPMorgan Chase to lead the IPO, according to sources who spoke on condition of anonymity as the information is not public.
Rio Tinto, the world's second-biggest listed miner, is targeting a valuation of about $4 billion, they said.
While Rio did not see much traction with a sale process, it has not ruled that out, the people said.
The IPO plans would depend on market conditions improving, the people added.
With high levels of volatility, global markets have fallen because of concerns about geopolitical risks and economic growth.
Rio has tried, and failed, to monetise Iron Ore Company of Canada in the past and is keen to get it right this time
A spokesman for Rio declined to comment.
With operations in Labrador and Newfoundland, Iron Ore Company of Canada is a major producer of iron ore in the country. Rio Tinto owns a 58.7 percent stake, Japan's Mitsubishi Corp owns 26.2 percent and Canada's Labrador Iron Ore Royalty Co owns 15.1 percent. IOC reported revenue of $1.9 billion in 2017.
Rio has tried, and failed, to monetise Iron Ore Company of Canada in the past and is keen to get it right this time, the sources said.
Rio tried unsuccessfully to sell its IOC stake in 2012-13.
This year it said it had also been unable to close a sale of its stake in the Simandou iron ore project in Guinea.
Iron ore, which accounts for most of Rio's profit and is used in making steel, has provided healthy margins for years but the outlook is uncertain as major buyer China is expected increasingly to rely on recycling rather than importing raw material.
Following a commodity price crash in 2015, Rio put a range of assets on the block, mostly coal, to cut its debt.
In iron ore, its push to refocus on its best assets has meant concentrating on Australia's Pilbara region, where it has low costs and relatively high grades.
Labrador Iron Ore Royalty Corp also provides relatively unpolluting iron ore concentrate and pellets, which command a premium.
The accelerated IPO plans for Rio Tinto underscore an eagerness among potential IPO candidates to get out to market early in 2019 amid fears market conditions could sour later in the year.
In the tech world, ride-hailing companies Uber Technologies and Lyft Inc have both filed with the U.S. Securities and Exchange Commission (SEC) and could go public in the first half of 2019.
(By John Tilak, Joshua Franklin, Barbara Lewis and Clara Denina; Editing by Jason Neely)
The Khanbogd-Oyu Tolgoi paved road was commissioned today and the 35.1 kilometer road is open to traffic now. This is our latest contribution to the local development and this new road will allow safe and comfortable travel to local residents as well as our over 1600 employees who commute from Khanbogd soum to their work....
Ulaanbaatar /MONTSAME/Outcomes of the 5-year project Stroke and Heart Attack, implemented with funding of USD 1.15 million from the Millennium Challenge Corporation in Mongolia and with support of the World Health Organization, has been presented on December 21 at the State Central Third Hospital (SCTH).
Within the project, 20-bed fully equipped Acute Stroke Unit, Cardiac Intensive Care Unit and Rehabilitation Unit were set up at SCTH, for the first time at the national level, in addition to introducing advanced technologies of angiography and computed tomography and providing over 120 types of equipment for rehabilitation treatment and involving physicians and specialists in international training.
Due to stroke and heart attack, 1600 persons lost their lives in 2017 while it was 1970 persons in 2013 and the reduced number by 370 is considered as a result of the project.
The biggest outcome of the project is that Mongolian physicians succeeded to reduce number of incurable diseases in Mongolia by 4 types, creating conditions to cure themselves. About it, Director of the hospital Ts.Tumut-Ochir said that rapid progress has been made in treatment of stroke and heart attack in medical sector of Mongolia thanks to the project. Not only diagnosis and treatment, but also specialized assistance of nursing has been developed along with introduction of over 30 new technologies for diagnosis and treatment. Mongolians have more opportunity to get diagnosed and cured at home.
It is necessary to establish more units to render assistance and services in the future. Outcomes of the project has shown that it is possible to save many more lives, he emphasized. “Furthermore, we proposed the Ministry of Health to formulate program to improve care delivery framework for comprehensive medical care to the patients with stroke and acute myocardial infarction such as early detection, treatment, adequate rehabilitation and prevention of recurrence stroke and myocardial infarction.”
Mongolians eat cakes on birthdays, at New Year and on any other occasion worth celebrating! According to statistics, nearly 2500 cakes are sold daily in Ulaanbaatar, but when New Year comes, demand leaps to 30 thousand. Mongolia producers provide 60 percent of the cake demand. Revenue for Mongolian from cake producers has reached over MNT 160 billion. This year, Mongolia has imported cakes worth USD 30 thousand from Russia and Ukraine....
Despite the relatively recent start of the project to transform UZBAT JV into an export hub for the supply of finished tobacco products in the countries of Central Asia and Mongolia, the geography of export deliveries is expanding with each month.
Since the second half of 2018, the products of the Samarkand cigarette factory have been successfully sold in the markets of neighboring Kyrgyzstan, Kazakhstan and Mongolia.
Tajikistan joined these countries and the first consignment of tobacco products with the inscription “Made in Uzbekistan” was already sent to this country in December 2018.
The company is seriously focused on increasing exports of finished products and is not going to be limited only to the markets of Central Asia and Mongolia. Since December of this year, UZBAT JV has started to supply products to the Georgian market. First five trucks with a batch of products under the BAT trademarks went to Sakartvelo on December 22.
Summing up the results of 2018, JV UZBAT successfully implemented the export program planned for this year, somewhat exceeding the export forecast obtained at the beginning of the year through the line of Uzbekozikovkatholding Holding Company.
The Company has set itself even more ambitious plans for the export of finished products for 2019, the implementation of which will largely depend on the stable macroeconomic situation in the country and on export markets, as well as on the well-coordinated activities of all departments of the company.
The Uzbek-British company British American Tobacco Uzbekistan (JV UZBAT AO JSC) was established on November 22, 1994, as a joint venture with state participation. The company is one of the leading foreign investors and the largest British investor in the Uzbek economy with an accumulated volume of direct investments of about $400 million.
Currently, the joint venture of JSC JV “UZBAT AO” is the only manufacturing company of the BAT group in Central Asia, which includes the Tashkent office, the Samarkand cigarette factory (BAT SSF), and the Urgut fermentation plant (BAT UFZ) on the processing of raw tobacco. The company operates in the framework of a full technological and production cycle - from growing in cooperation with domestic farmers and tobacco growers of green raw tobacco to the production of finished products for the needs of the domestic market and exports abroad.
Today about 400 highly professional workers are employed by BAT SSF. For the needs of the Uzbek domestic market, 28 assortment items of tobacco products of international brands such as Kent, Pall mall, Rothmans, and Viceroy are manufactured at the SSF, not counting the export nomenclature. BAT SSF has three production shops - a workshop for the primary processing of raw tobacco into a finished cigarette bag, a filter production workshop, an assembly and packaging workshop. BAT UFZ employs 200 permanent and more than 400 seasonal (for more than six months) employees. BAT UFZ has modern equipment for processing both traditional Oriental (eastern) and semi-oriental tobaccos (Dubek, Izimr, Basma) traditional for Uzbekistan, and a new elite variety of Virginia tobacco, which was cultivated in Uzbekistan several years ago after years of experiments.
JV UZBAT directly employs 1,200 people and indirectly about 10,000 more people: 600 farmers, 7,000 tobacco growers, 2,000 employees of enterprises from related industries and services (production of group packaging and consumer packaging, agricultural equipment and fertilizers, warehouse and trade equipment, wholesale distribution of tobacco products, transport and logistics, engineering and utilities), not counting the retail trade. The company allocated more than 3 billion soums ($360,000) to implement various social projects in 2017....