|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
President Trump is getting tough on trade with China.
Trump signed a memorandum Monday that directs U.S. Trade Representative Robert Lighthizer to determine whether an investigation is needed into alleged unfair Chinese trade practices. Shortly after Trump signed the directive, Lighthizer said his office will launch a probe and, "if needed, take action to preserve the future of U.S. industry."
The move represents the first step in a process that could allow Trump to impose tariffs on Chinese imports or other punishing trade actions.
"This is just the beginning," Trump said at the White House Monday. "We will defend our workers."
It's Trump's latest warning to China on trade, and it comes the same week that administration officials begin to renegotiate NAFTA, the free trade deal between the U.S., Mexico and Canada.
The new order focuses specifically on alleged Chinese theft of U.S. intellectual property, a complaint expressed by a wide array of U.S. corporations that do business in China.
China is accused of trying to take a short cut by spying, hacking or forcing companies to hand over their intellectual property, such as a patent on a software product.
Chinese laws require foreign firms in some industries, such as energy and autos, to form joint ventures with local partners, which often results in the transfer of technology to Chinese companies.
In a report published this year, the Commission on the Theft of American Intellectual Property named China as the main offender, estimating it costs the U.S. economy up to $600 billion a year.
Trump's memorandum comes as his administration also seeks cooperation with Chinese President Xi Jinping on North Korea's ongoing missile threats.
Some experts say the wording of the memorandum is watered down, reflecting how high a priority North Korea is for the administration. Trump's order did not direct Lighthizer to open an investigation. It directed Lighthizer to determine if an investigation is needed.
"For an administration that portrays itself as tough on trade, it keeps taking one baby step after another, and this is another one," says Edward Alden, a senior fellow at the Council on Foreign Relations.
The softened language in Monday's order is the second time in as many weeks that Trump has agreed to changes to ease the potential backlash from China. Last week, the administration delayed the trade move in favor of securing China's support for a United Nations resolution imposing new sanctions on North Korea.
The final version of the memorandum reflected a desire to put some more distance between Trump and a potential investigation of Chinese trade practices, according to a senior administration official.
The Chinese Commerce Ministry on Tuesday warned that "any actions of trade protectionism from the U.S. side would be harmful to the bilateral trade and business relationship and the interests of companies on both sides."
It urged the U.S. to "respect objective facts and be cautious" or risk prompting Beijing to "respond with proper actions to firmly protect China's legitimate rights."
Trump routinely slams China's trade practices, and blames China for the loss of millions of manufacturing jobs. The U.S. had a $347 billion trade deficit with China last year, by far the largest deficit the U.S. has with any country. Trump wants to lower the deficit.
The memorandum was the administration's latest effort to get tough on longstanding Chinese trade abuses, but it also reflected a recognition inside the White House of bureaucratic processes and a complex international situation.
Known in Mongolia as the "dark blue pearl," Lake Khuvsgul is Mongolia's deepest and purest source of fresh water. But it is now under threat.
Lake Khuvsgul in Mongolia is one of the biggest lakes on earth, but dozens of vehicles that have fallen through its ice since the 1950's, and a small diesel leak could have disastrous consequences.
Lake Khuvsgul is one of the biggest lakes on earth. It also flows into the world's largest freshwater lake, Baikal, in Russia.
But this vital resource is under threat. Dozens of vehicles have fallen through its ice since the 1950s.
"One of the trucks fell half-way through the ice. The other sank 45 metres. One of our divers went under the ice and connected the cable to pull it out. The other truck had a body inside," Tengis Boldbaatar, the Khuvgul National Emergency Management Agency Sergeant Coast Guard said.
Some vehicles, however, are still submerged, and are believed to contain fuel that may contaminate the water. Experts warn if they leak, the consequences would be catastrophic.
Grace Brown reports from Khuvsgal.
A Mongolian official has denounced the recent sanctions imposed by the United States on Iran, Russia and North Korea.
Mongolian president’s special envoy Lundeg Purevsuren has lashed out at Washington’s sanctions on Iran, saying, “Sanctions are not good, and we condemn them.”
The Mongolian official said the recent sanctions imposed on Iran, North Korea and Russia are not friendly, adding, “We don’t recognize the US sanctions because slapping sanctions are not a good way and we denounce them.”
Speaking in a Farsi interview with ICANA, he said Iran has a history of peaceful relations with other countries, adding, “Today, Mongolia and Iran are keen to boost the level of their foreign relations.”
He said many Iranian companies are investing in Mongolia and vice versa, which means “the two states have constructive economic relations.”
The Mongolian official had travelled to Iran heading a delegation to attend the swearing-in ceremony of President Hassan Rouhani.
The Mongolian Civil Aviation Authority (MCAA) signed a memorandum of understanding with the Civil Aviation Administration of China on increasing cross-border air routes during the International Civil Aviation Organization’s August 7 to 11 Conference of Asia-Pacific DGCAs in Ulaanbaatar. Speaking at the conference, Mongolia’s CAA chairman, Byambasuren Luvsansambuu, noted that increasing the number of airways would help lift the traffic burden on an underdeveloped route structure. Chinese carriers now account for 27 percent of all flights through Mongolia.
Mongolia and China share six border points, and direct regular flights operate from Mongolia to four Chinese cities. Airline officials from the two countries continue to work on finding a seventh viable route. Chinese tourists account for the largest share of the inbound tourism market of Mongolia. During a recent conference on development of the western region of Mongolia and the country’s Khovd Province, local government promoted the potential for a route between Khovd city and Urumqi, the capital city of China’s Xinjiang Uyghur Autonomous Region.
Meanwhile, a so-called Chinese silk road in the air could pass over Mongolia’s territory, as Mongolia considers opening its airspace for domestic flights from China’s northwest Xinjiang Uyghur region to northeast provinces such as Jilin and Liaoning.
Separately, Mongolia’s flag carrier, MIAT Mongolian Airlines, plans to expand its own network in the region under its 2018-2020 business plan. The carrier recently launched Busan-Ulaanbaatar and plans to start regular flights to Bangkok in November. To support the expansion, MIAT has agreed to lease two Boeing 737 Max 8 narrowbodies starting in January and May of 2019. At the same time, MIAT has started negotiation with its partners to launch flights to cities in North America. Most recently, it signed a contract with Amadeus to upgrade its information technology system.
On the third day of the IATA conference, the Civil Aviation Authority of North Korea expressed interest in launching direct flights between Pyongyang and Ulaanbaatar, while the Mongolian CAA consulted with its Russian counterpart over joint use of a trans-Siberian air route.
In May, 2017, Mongolian commercial bank “Xacbank” received 500’000 dollars’ grant from Green Climate Fund. It was the first phase of GCF’s 20 million dollar contribution to reduce carbon emission rates in Mongolia. Mongolia’s capital Ulaanbaatar is one of the world's most polluted cities, mainly because of coal-fired power plants, and coal-fueled stoves and boilers which are used to heat homes in this world's coldest national capital. Even though the pollutants in the air is estimated to be 8 times the world standard, Government of Mongolia is too busy dealing with the financial crisis to take actions against it. GCF’s grant could bring major positive changes as it would kick start the biggest climate program with 60 million USD budget. Only 0.07 percent of the national budget goes to the Ministry of Environment and Green Development. Thus, climate projects are in serious need of financing, and that 500’000 USD might have come in just the right time.
Mongolia is known by its vast, beautiful landscapes, wonderful solitudes, and the rich hospitality of nomads. Sadly, the landscape changed drastically due to the sudden increase of mining business. Almost half of the domestic budget comes from coal exports and it doesn’t seem to change in the near future. The biggest attempt to turn into sustainable energy resources are mostly invested by the private sector. Mongolian economy is solely dependent on their export of mining products and income rates shown below illustrates how much Mongolia is in need of an economic support to overcome the challenge.
Efficient investment with safe monitoring is crucial when it comes to Mongolia. The reason hardly any foreign investor approaches Mongolia is corruption. To make sure the funding is going to places they intended to, international organizations tends to directly connect with private sectors rather than government officials. Recent events such as partnership with Xacbank proves it as well. But the fact that there are very few corporations big enough to run the financial grant also puts this option at risk. Therefore, careful partnership with the Government with strict monitoring, or funding the private sector to support low-carbon energy sector seems to be two most suitable choices.
Tight provincial budgets
Despite the fact that all protected landscapes are in the hands of local governments, the state always puts major restraints on provincial budgets. Tight budgets put those local governments in position to issue more mining licenses in order to create their own reserves. They have even started granting mineral exploration licenses after banning it for 5 years due to negative environmental impacts. More mining means more CO2 will be released into the atmosphere, thus, to efficiently finance the climate change mitigation; strong local budgets must be constructed firsthand.
Private sector investment
Mongolia’s first wind farm was built and funded by Newcom LLC and Clean energy LLC, both are private companies. They are currently funding another major sustainable energy project, which is to build the first solar energy plant. Hopefully, other private sectors might take more interest in low-carbon energy sector now that the Xacbank is providing low interest loans. Judging from these facts, it seems that private sectors are pioneering the way towards more climate-friendly Mongolia.
Problems we are facing do not end here. In fact, there are even more problems involving the mining boom Mongolia experienced during the last decade. Mining companies execute land rehabilitation poorly, or not at all; because there is a legal way to make small contribution to local government’s fund rather than constructing rehabilitation. Law makers must reconsider such ways that offer big corporations a way out.
Sustainable energy, responsible mining and strong will to bring positive changes are the things we must do to keep our country as stunning as it has been through the history. Mongolians have worshipped nature for as long as they existed and that love can be the source of motivation to do what is right.
By Tushigjargal Bold
Ulaanbaatar /MONTSAME/ Mongolia-Turkey cooperation, especially in the fields of economy and business are needed to be gone into a new volume, said J.Munkhbat, head of the Cabinet Secretariat for Government, when he met Monday Mr Fatih Ciftci, the Turkey’s Deputy Minister of Customs and Trade. He added Mongolia intends to increase the bilateral trade turnover to USD 250 million.
The parties exchanged views on seeking areas of the Mongolia-Turkey cooperation apart from the above fields.
Mr Munkhbat pointed out the Mongolian government is ready to support organizing business meetings and forums by the countries’ Chambers of Commerce.
“We know Turkey is a leading country for processing leather. Mongolia has big reserve of leather, so we are possible to collaborate in it,” Mr Munkhbat said. He added that the countries are possible to boost cooperation in the areas of agriculture, transportation, tourism, light industry and investment.
In turn, Mr Fatih Ciftci said his country is ready to collaborate with the Mongolian customs and trade organizations and to contribute to their actions. He added that the countries are able to cooperate in the small-and-middle industry.
The above issues are expected to be discussed at a forthcoming meeting of the intergovernmental commission meeting.
Tesla expects to raise nearly $1.8bn (£1.4bn) by selling "junk" bonds to private investors - even more than the electric car-maker aimed for when it announced the offering this month.
The firm said the money will keep its balance sheet steady as it ramps up manufacturing of its newest car.
Tesla aims to make 5,000 of its mass market Model 3 a week by the end of this year.
It has estimated it is already spending about $100m a week to hit that target.
On 4 August Tesla said was looking to raise $1.5bn by selling bonds, but said on Friday it now expected to raise $1.77bn from the sale.
The fundraising is limited to major institutions and not private investors.
Analysts said Tesla's ability to raise more than $1.5bn indicated an appetite for risk among investors, as low interest rates have limited returns in many other types of investments. High stock market valuations have also made it harder to make a profit.
"Without the proceeds from the note offering, Tesla's liquidity position would be stressed," analysts at Moody's said, warning of risks to potential investors.
Tesla had about $3bn in cash at the end of June, but it spent more than $2bn in the most recent quarter.
The company founded by Elon Musk has frequently turned to investors to overcome persistent operating losses.
Tesla plans to eventually make more than 500,000 of the new Model 3 cars a year at its Fremont factory - or about 10,000 per week.
Moody's said the target was ambitious given the relatively small size of the US electric car market.
Japanese Government to fund USD 58 thousand for First Maternity Hospital's renovation project www.montsame.mn
Ulaanbaatar /MONTSAME/ Within the frames of the Government of Japan’s “Grant Assistance for Grassroots and Human Security Projects” (GGP), the signing ceremony of First Maternity Hospital’s renovation project was held on August 11.
Opening the ceremony, the Head of First Maternity Hospital D.Narantsatsralt said “USD 58 thousand funding is coming from the Government of Japan. This full be used on renovating the roof of A, B, C and D sections of First Maternity Hospital. Our hospital prepared a project to get involved in the GGP and I’m fully grateful that the project was selected”.
Presently, the hospital’s roof is inadequate as it leaks in rain. Therefore, the hospital is in dire need for immediate renovation. The renovation is expected to start on August 20 to continue for a month.
Facebook has been banned from China for years, but a new app that has shown up in the country might be its way into the market.
It's dubbed the Colorful Balloons app, and, according to the Chinese app store's description, it works similarly to Facebook's (FB, Tech30) Moments app.
"Colorful Balloons can group users' phone pictures and videos based on time, locations and characters. It can help you create albums and share them with friends and family," the description reads.
The story was first reported by The New York Times, and person familiar with the matter confirmed to CNNMoney that it is a Facebook app. But the Facebook name is nowhere to be seen.
Instead, a company called "Youge LLC" is credited as the creator. And Colorful Balloon is the only app listed under the developer.
The app has a few distinct features that cater to the Chinese market. And in order to sign up, users must register with a Chinese cell number.
Facebook and other major tech firms have been shunned from China for many years thanks to the country's strict censorship laws, often referred to as the Great Firewall.
In addition to Facebook, apps including Snapchat (SNAP), Pinterest, Twitter (TWTR, Tech30) and Facebook-owned Instagram are banned from the country.
In their place, Chinese developers have created similar platforms. Sina Weibo, for example, takes the place of Twitter as the country's primary microblogging site.
But that hasn't stopped American tech giants from eying a piece of China's massive market.
"We have long said that we are interested in China, and are spending time understanding and learning more about the country in different ways. Our focus right now is on helping Chinese businesses and developers expand to new markets outside China by using our ad platform," Facebook said in a statement Saturday.
ULAANBAATAR (Reuters) - A statue of the Beatles in the Mongolian capital of Ulaanbaatar could be at risk amid an alleged land grab, protesters say, as rapid development turns a city once famed for wide open spaces into a cluttered metropolis.
Residents are protesting against plans to build commercial properties in an area known as Beatles Square, where a bronze bas-relief monument to the "Fab Four" commemorates the former Soviet satellite's transition to democracy in 1990.
"For a long time there were stories about construction on the land, but nobody wanted to believe it," said Tsoggerel Uyanga, a community organizer and senior partner at research group MAD Investment Solutions.
The monument, erected in 2008 with donations from politicians, businessmen and artists, marks the site where Mongolians gathered to talk about banned Western pop music and soon became a quirky tourist attraction.
The music of the Beatles, Abba, and other Western pop groups helped launch the "Rock and Roll Communist Revolution" that inspired a generation to fight for Mongolian democracy thirty years ago.
The protests began after an August 2 announcement that construction work would start, with residents calling the project a "land grab" and expressing fears the Beatles statue could be moved or even demolished.
Authorities have defended the development as part of a "car-free street" project to build an underground shopping complex complete with street gardens.
A lawyer for Mongolia's National Construction Association said there were no plans to remove the Beatles statue, however.
"By implementing the project, there are a great deal of advantages, such as increasing jobs and reducing traffic congestion," said D. Uuganbayar, the lawyer.
The national association, the city government and a private contractor called "Buti" are leading the project.
Congestion and pollution have grown in the capital as its population has doubled over the last two decades, with thousands of impoverished herders flocking to settle in makeshift residential areas.
The strain on Ulaanbaatar's infrastructure has forced the city to rethink its planning of urban spaces, and drawn criticism for the sale of public land to wealthy buyers.
Investors have failed in the past to deliver on promises to protect public spaces affected by development, Uyanga said, pointing to the Bogd Khan conservation area where the World Bank had raised concerns about overdevelopment.
"It became a black market for land authorities during the early democratic years," said Uyanga.
Editing by David Stanway and Clarence Fernandez