1 VOLKSWAGEN TO SPEND $50 BILLION ON ELECTRIC CAR 'OFFENSIVE' WWW.CNN.COM PUBLISHED:2018/11/19      2 HABITABILITY OF MONGOLIA UNDER THREAT FROM CLIMATE CHANGE WWW.ADELAIDENOW.COM.AU PUBLISHED:2018/11/19      3 THE SURPRISE FUEL FLOWS SPARKED BY A RAGING U.S.-CHINA TRADE WAR WWW.BLOOMBERG.COM PUBLISHED:2018/11/19      4 MONGOLIA’S COAL EXPORTS IN FIRST 10 MONTHS UP 10PC WWW.XINHUANET.COM PUBLISHED:2018/11/19      5 ABOUT 100 THOUSAND PASSENGERS PASSED THROUGH MONGOLIA-XINJIANG BORDER WWW.MONTSAME.MN PUBLISHED:2018/11/19      6 CHINA'S ‘ONE BELT, ONE ROAD’ GLOBAL INVESTMENT PLAN MAPPED OUT WWW.RT.COM PUBLISHED:2018/11/19      7 ASIA SUMMIT ENDS IN HISTORIC FAILURE WWW.CNN.COM PUBLISHED:2018/11/19      8 INAUGURATION OF SHERAB KYETSEL LING INSTITUTE WWW.DALAILAMA.COM PUBLISHED:2018/11/19      9 US-MONGOLIA 'THIRD NEIGHBOR TRADE ACT' ON THE WAY WWW.THEDIPLOMAT.COM PUBLISHED:2018/11/17      10 CHINA'S FIGHT AGAINST SMOG MAKES PALLADIUM 2018'S BEST METAL WWW.MINING.COM PUBLISHED:2018/11/17      БНХАУ-ЫН ОЛОН УЛСЫН ИМПОРТЫН ҮЗЭСГЭЛЭН БНХАУ-ОХУ-ЫН БИЗНЕСИЙН ХАРИЛЦААГ ӨРГӨЖҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/19     АМЧАМ МОНГОЛ 2018 ОНЫ ЖИЛИЙН ТАЙЛАНГИЙН ХУРЛАА АМЖИЛТТАЙ ЗОХИОН БАЙГУУЛЛАА WWW.IKON.MN НИЙТЭЛСЭН:2018/11/19     ЗЭСИЙН ЗАХ ЗЭЭЛД ЦОЙЛУУЛАХ ХАРМАГТАЙ WWW.DNN.MN НИЙТЭЛСЭН:2018/11/19     ГАШУУНСУХАЙТ АВТО ЗАМ ХХК: БЯМБА ГАРАГТ ГАШУУНСУХАЙТ-ГАНЦМОД БООМТООР НҮҮРС ТЭЭВРИЙН 99 АВТОМАШИН НЭВТЭРСЭН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/19     НЭГ АЖИЛТАНД НОГДОХ ДНБ III УЛИРЛЫН БАЙДЛААР 3.7 САЯ ТӨГРӨГ БОЛЖ ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/19     ХЯТАДЫН ХЯЗГААРЛАЛТ $300-450 САЯЫГ ГАЦААНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/19     АЗЕРБАЙЖАН УЛС МАНАЙД ДАРС НИЙЛҮҮЛЭХЭЭР БОЛЛОО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/19     ШУУДАН, ХАРИЛЦАА ХОЛБООНЫ САЛБАРЫН ОРЛОГО ОНЫ ЭХНИЙ 9 САРД 21.4 ХУВИАР ӨСӨВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/19     БНСУ-ЫН АЖ АХУЙН НЭГЖҮҮДИЙН АУТСОРСИНГ ЗАХИАЛГЫГ ГҮЙЦЭТГЭХ ЗАЛУУЧУУДЫГ СОНГОН, ШАЛГАРУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/17     НҮҮРСНИЙ ЭКСПОРТ 10 ХУВИАР ӨСӨЖ, 31.3 САЯ ТОНН БОЛОВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/17    

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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Fischer Energy joins UK retail market with 100% renewable offer www.theguardian.com

 
The ranks of the 40-plus energy companies jostling for householders’ business will swell on Monday with the launch of a new supplier that delivers electricity from windfarms.
 
Fischer Energy hopes to sign up 40,000 customers in the first year to its single variable tariff, with renewable power bought from Denmark’s Dong Energy.
 
The new entrant arrives less than two months after the collapse of another small supplier, GB Energy UK. Experts have raised concerns that the retail energy market is approaching saturation point and question the wisdom of consumers signing up for a variable tariff at a time of rising wholesale prices.
 
Keith Bastian, Fischer’s chief executive, said he had been motivated to start the company because of the inequality of multiple tariffs, and that offering a single tariff would reduce confusion.
 
“That will in effect put the customer first,” he said. “They can buy the energy knowing it’ll be a fair price. It won’t be the cheapest, we can’t guarantee that, but it will be fair.”
 
The supplier, a family-owned business based in Leicester, would not risk GB Energy’s fate by “going down the road of a race to the bottom” on price, Bastian said. He added that while the company would be on comparison sites, it would not pay commissions to them.
 
The company, which has around 25 employees, is also going up against some long-standing green energy suppliers such as Good Energy and Ecotricity with its pledge to supply 100% renewable electricity. “Green energy is the only way forward. Burning carbon fuels is not the solution,” Bastian said.
 
It is not yet clear whether Fischer will stand out against the Big Six and a crowded landscape of smaller players.
 
“They’ve talked about it being a unique offering with one tariff that’s fair for all. Well there are a number of suppliers doing that. You take Bulb, they have one tariff and renewable electricity. I know Octopus are out there, they have one tariff,” said Stephen Murray, an energy expert at Moneysupermarket.
 
He said the comparison site had noticed that since GB Energy’s demise, customers were erring towards more established players such as British Gas, EDF, npower, E.ON, ScottishPower and SSE.
 
Ofgem says there are currently 44 active suppliers in the retail market. “I think we’re getting there [near saturation point]. If a supplier comes with a unique and innovative approach then great, but I’m not sure what that approach is at the moment,” Murray said.
 
Joe Malinowski, the founder of The Energy Shop comparison site, said: “I think the market is way over-saturated with new entrants. It doesn’t need another one, and what they’re doing is not unique.”
 
He also echoed Murray’s concern about single variable tariff: “The problem with having a variable tariff in a volatile market is you have to keep raising the price.”
 
Fischer is due to publish details of its tariff on Monday, when an Edinburgh couple also launch a crowdfunding effort to raise £450,000 to set up a new energy supplier later this year that would offer greater transparency. David Pike and Karin Sode say Our Energy will share its salaries and accounts with customers.
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Darkhan solar power plant to be commissioned this week www.gogo.mn

An official opening of Darkhan 10MW solar power plant will be held on Jan 19th. The opening ceremony will take place in Khongor soum, Darkhan-Uul aimag. 
Darkhan 10MW solar power plant will reduce the amount of energy import from Russia and will contribute to connect region to renewable energy systems​. 
The solar power plant has constructed jointly by Mongolian company Solar power international LLC and Japan`s Sharp, Shigemitsu shoji Co., Ltd. Total investment of the project was US$ 17.4 million. 
The power plant has capacity to generate 14.1 million kWh electricity per year through its 32,274 solar panels, which is able to provide renewable energy to 20 thousand homes. 
Moreover, the power plant will reduce greenhouse gas emissions by 14,764 tons. Power cables​ of the plant are complied with the requirements of Mongolia`s harsh winter.

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Transportation and logistics center to be established in Tianjin www.gogo.mn

‘Mongoliin tomor zam’ (Mongolian Railways) government entity plans to establish a transportation and logistics center in Tianjin free trade zone of China.
In realization of the Government resolution on ‘Some measures to increase possibilities for access to the sea’, released in 2013, the company intends to establish joint company with Chinese side. The center is estimated to occupy 10 ha of land there.
‘Mongoliin tomor zam’ announced that it has started to register national companies, who have interest to invest to the project and cooperate. Registration will continue till February 15.

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Tibet activists arrested in Switzerland protest during Xi visit www.bbc.com

Swiss police have arrested 32 pro-Tibet activists who were protesting against a visit by Chinese President Xi Jinping.
The group, made up of Tibetans and Swiss nationals, were detained on Sunday for flouting restrictions set up by police in the capital, Bern.
One man was also prevented from setting himself on fire, said police.
Mr Xi is in Switzerland for a state visit ahead of the World Economic Forum which begins in Davos on Tuesday, a first for a Chinese president.

Sunday's protest had taken place in Bern's centre and was scheduled by police to end at noon, before Mr Xi's visit.
City authorities said the demonstration mostly proceeded peacefully but a number of participants had continued to protest past the deadline, refused identity checks, and caused other disruptions.
Police spokesman Christoph Gnaegi told the Associated Press that those arrested were later released.
Doctors had taken care of the man who had tried to set himself on fire.
The demonstration attracted between 700 and 800 protesters, organisers said.

China's policies in Tibet have frequently prompted overseas protests by Tibetans calling for freedom from China and acceptance of their spiritual leader-in-exile the Dalai Lama.
In 1999, a similar pro-Tibet protest took place during a visit by China's then-president Jiang Zemin, who was said to be angered when demonstrators threw eggs at the Chinese delegation.

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AIIB President Jin: Door will remain open for US to join www.chinadaily.com.cn

 
One year after opening with 57 charter members, the China-led Asian Infrastructure Investment Bank would still welcome the US to join its ranks, the bank's president Jin Liqun has said.
 
"The door will remain open," Jin said in a television interview, when asked whether he expected the US to reconsider becoming a member.
 
He said: "We maintain a consistent policy. The AIIB is a multilateral development institution."
 
Approximately 30 economies are waiting to join, Jin said at the bank's headquarters in Beijing. The lender, with $100 billion of pledged capital-part of China's push to expand the nation's economic benefits to others, backed nine projects in seven countries last year.
 
Before it opened in January 2016, US President Barack Obama rejected joining, only to see several of its closest allies sign up. Now Beijing is preparing for the incoming US administration of Donald Trump, who's already straining ties before taking office on Jan 20.
 
Jin, a former deputy finance minister who also has worked at the World Bank and the Asian Development Bank on China's behalf, is still optimistic despite recent tensions.
 
He said: "We can work very well together."
 
He added that senior officials in the US government, including both Democrats and Republicans, have shared with him their praise for the new institution.
 
He said: "I'm encouraged by the very positive comments on the AIIB."
 
The AIIB got a boost last year when the UK, Germany, France and Italy became members. Other US allies such as Australia, South Korea and Canada also joined, leaving the US and Japan as the only nations to hold off joining.
 
The AIIB's inaugural projects ranged from a slum upgrading project in Indonesia to a new pipeline linking gas fields in Azerbaijan to markets in southern Europe, via Turkey.
 
The bank lent $1.73 billion in 2016, exceeding an earlier target of $1.2 billion. Jin said 75 percent of the bank's projects so far are proposed and co-financed with existing lenders, including the Washington-based World Bank, Manila-based ADB and London-based European Bank for Reconstruction and Development, while AIIB staff selected the remainder.
 
The AIIB will continue to collaborate closely with those other multilateral lenders while beefing up its own capability and working to increase its disbursements, according to Jin.
 
"The pipeline is getting bigger," and the bank's priority is to "have a better balance across the regions, countries and sectors," he said.
 
Jin, one of the first postgraduate students to study English literature after China's cultural revolution (1966-76), is fluent in English and French and translated The House of Morgan, a book on the JP Morgan empire by US author Ron Chernow, into Chinese in 1996. He also served as supervisory chairman of the country's sovereign wealth fund.
 
Now, he said, he's confident the country's economy will fare well during its transition to new drivers of growth.
 
He said: "China is faced with a number of challenges, particularly restructuring the economy, moving from excessive dependence on external sectors to domestic consumption, and improving the efficiency of the Chinese economy, not aiming at simply the numbers of the growth."
 
Factories and services activities capped a year of strengthening across several indicators. But under the hood, risks remain: Increasing pressure on the yuan, rising capital outflows and concern Trump may make good on threats of punitive measures against China's exports.
 
Foreign reserves fell for a sixth month in December, bringing the 2016 drop to $320 billion. The government has recently announced new measures, including extra requirements for citizens converting yuan into foreign currencies.
 
Jin said: "Some measure to address this issue in my view probably is necessary. I hope things would stabilize very soon, and panicking on part of investors would disappear." He said the global economic outlook this year is more positive than last year.
 
"If you look at the short-term cyclical recovery, and long-term trend, these two factors seem to be doing pretty well," Jin said.
 
"That would in my view favor infrastructure investment both in emerging market economies and in developed countries, which in turn will help sustain growth. It is gratifying to learn that even in the US, they would like to spend more money on infrastructure."
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Facebook to roll out fake news tools in Germany www.bbc.com

 
Facebook is introducing new tools in Germany to help combat the spread of fabricated news stories.
The world's largest social network said it would enable German users to flag potentially false stories.
The stories will then be passed to third-party fact-checkers and if found to be unreliable, will be marked in users' news feeds as "disputed".
It is the first major rollout of the fake news features announced by Facebook in December.
"Last month we announced measures to tackle the challenge of fake news on Facebook," the company said on Sunday in a German-language statement.
"We will put these updates in place in Germany in the coming weeks."
Facebook has been widely criticised after some users complained that fake news had influenced the US presidential election.
German government officials have expressed concern that misinformation on the internet could influence the country's parliamentary election this year.
Last week, the social news site Buzzfeed found Facebook pages were publishing false stories about German Chancellor Angela Merkel, who is seeking re-election.
German Justice Minister Heiko Maas has also repeatedly warned about fake news on Facebook, and called on the firm to respect the country's defamation laws, which are stricter than in the US.
In the UK, MPs are set to question executives from Facebook, Google and Twitter about fake news amid fears it is undermining democracy, according to a report in the Sunday Telegraph.
Under the new measures, users in Germany will be able to select "It's a fake news story" as an option when reporting another user's post.
They can then mark the post as fake news, let the other user know they think it is fake, or block that user.
Facebook will send potentially fake stories to Correctiv, a German non-profit body of investigative journalists, to check the facts.
If they find a story to be false, it will be marked on Facebook as "disputed" and will appear lower in users' news feeds.
Facebook is already testing the system with certain fact-checkers in the US to verify news on its platform.
The fact-checkers must sign up to a code of principles to take part. There are currently 43 signatories, including news organisations in several different countries.
As in the US, Facebook Germany said it was looking into penalising websites, which tried to mimic major publishers or misled readers into thinking they were a well-known news source.
Last week, Facebook announced new training and tools that would be made available for journalists on its platform.
On Thursday, BBC News said it would expand its Reality Check series to target false stories or facts being shared widely on social media.
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Eight billionaires 'as rich as world's poorest half' www.bbc.com

 
The world's eight richest individuals have as much wealth as the 3.6bn people who make up the poorest half of the world, according to Oxfam.
The charity said its figures, which critics have queried, came from improved data, and the gap between rich and poor was "far greater than feared".
Oxfam's report coincides with the start of the World Economic Forum in Davos.
Mark Littlewood, of the Institute of Economic Affairs, said Oxfam should focus instead on ways to boost growth.
"As an 'anti-poverty' charity, Oxfam seems to be strangely preoccupied with the rich," said the director-general of the free market think tank.
For those concerned with "eradicating absolute poverty completely", the focus should be on measures that encourage economic growth, he added.
Ben Southwood, head of research at the Adam Smith Institute, said it was not the wealth of the world's rich that mattered, but the welfare of the world's poor, which was improving every year.
"Each year we are misled by Oxfam's wealth statistics. The data is fine - it comes from Credit Suisse - but the interpretation is not."
'Elite gathering'
The annual event in Davos, a Swiss ski resort, attracts many of the world's top political and business leaders.
Katy Wright, Oxfam's head of global external affairs, said the report helped the charity to "challenge the political and economic elites".
"We're under no illusions that Davos is anything other than a talking shop for the world's elite, but we try and use that focus," she added.
UK economist Gerard Lyons said focusing on extreme wealth "does not always give the full picture" and attention should be paid to "making sure the economic cake is getting bigger".
However, he said Oxfam was right to single out companies that it believed fuelled inequality with business models that were "increasingly focused on delivering ever-higher returns to wealthy owners and top executives".
Oxfam's Ms Wright said economic inequality was fuelling a polarisation in politics, citing Donald Trump's election as US president and the Brexit vote as examples.
'Fair share'
"People are angry and calling out for alternatives. They're feeling left behind because however hard they work they can't share in their country's growth," she said.
The charity is calling for "a more human economy" and is urging governments to crack down on executive pay and tax evasion and impose higher taxes on the wealthy.
It also wants business leaders to pay a "fair share of tax" and has urged companies to pay staff the "living wage", which is higher than the government's National Living Wage.
Oxfam has produced similar reports for the past four years. In 2016 it calculated that the richest 62 people in the world had as much wealth as the poorest half of the global population.
The number had fallen to just eight this year because more accurate data was now available, Oxfam said.
It was still the case that the world's richest 1% had as much wealth as the rest of the world combined, Oxfam said.
Some of the eight richest billionaires have given away tens of billions of dollars. In 2000 Bill Gates and his wife Melinda set up a private foundation that has an endowment of more than $44bn.
In 2015 Mark Zuckerberg and his wife Priscilla Chan pledged to give away 99% of their net worth in their lifetimes, which equated to about $45bn based on the value of Facebook shares at the time.
It takes cash and assets worth $71,600 to get into the top 10%, and $744,396 to be in the top 1%.
Oxfam's report is based on data from Forbes and the annual Credit Suisse Global Wealth datebook, which gives the distribution of global wealth going back to 2000.
The survey uses the value of an individual's assets, mainly property and land, minus debts, to determine what he or she "owns". The data excludes wages or income.
The methodology has been criticised as it means that a student with high debts, but with high future earning potential, for example, would be considered poor under the criteria used.
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Russia could maintain its Reserve Fund with oil at $50 www.rt.com

 
Current oil prices may help Russia avoid running out of reserves this year, Russian Finance Minister Anton Siluanov told reporters on the sidelines of the Gaidar international economic forum on Friday.
 
FedorenkoRussia approves 3-yr federal budget in first reading
"Will we be able to maintain the Reserve Fund if oil prices stay at $50 per barrel,” he said, adding that will bring in around 1 trillion rubles ($16.8 billion) in extra revenue.
 
The oil price at $50 or above will also allow replenishing of the National Welfare Fund in 2017, he added.
 
Siluanov insists that revenue from the non-oil sector should be used to support economic and social development.
 
According to the minister, this year the country’s budget provides for the use of around 1.8 trillion rubles ($30.3 billion) from the Reserve Fund and the Welfare Fund.
 
Siluanov was echoed by Russian Minister of Economic Development Maxim Oreshkin who said the recovery of oil prices would reduce spending from the Reserve Fund.
 
“Considering the oil price growth early this year, we have an excellent opportunity to cut spending from the Reserve Fund and preserve it," said Oreshkin.
 
Russia drew up its 2017 budget using an assumed average crude oil price of $40 per barrel. Brent crude futures were trading at $55.70 as of 14:10 GMT on Friday.
 
In November, the Finance Ministry said it wanted to take 1.15 trillion rubles ($19.3 billion) from the Reserve Fund and 668.2 billion rubles (over $11.2 billion) from the National Wealth Fund to cover the deficit in 2017. It assumed the Reserve Fund will be empty by the end of 2017, while the wealth fund will still have about $64 billion remaining.
 
Statistics showed Russia's Reserve Fund fell to $16.03 billion at the start of 2017 from $50 billion in early 2016.
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IMF warns of persistent vulnerabilities for low income countries in face of low commodity prices www.xinhuanet.com

WASHINGTON (Xinhua) - International Monetary Fund (IMF) on Thursday warned of persistent high vulnerabilities for low income developing countries in face of the low commodity prices.

Low income developing countries have experienced incomplete adjustment to the new world of "lower for long" commodities prices, with many commodity exporters still far from a sustainable macroeconomic trajectory, said the IMF in its latest report.

According to its research, the IMF found that, with the sharp adjustments of commodity prices into its third year, many commodity exporters remained under significant economic stress, with sluggish growth, large fiscal imbalances, and weakened foreign reserve positions.

The average output growth of the fuel exporters dropped to -1.6 percent by 2016 from 5.7 percent in 2014; the non-fuel commodity exporters experienced much milder growth shock with its average growth slowing to 3.8 percent by 2016 from 5.3 percent in 2014; while diversified exporters have mainly benefited from the adjustment of commodity prices, with growth running at 6 percent or above in many countries.

In face of the sluggish growth, two thirds of the commodities exporters were facing high macroeconomic vulnerabilities, said the IMF.

It estimated that more than half of commodities exporters were facing an elevated risk of financial sector stress over the next 18 months, which could result in bank failures and supervisory interventions, and one quarter of low income countries are currently assessed to be at high risk of external debt distress.

IMF called on low income countries to strengthen financial sector supervision, improve fiscal risk management and promote infrastructure investment to increase productivity.

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Copper price jumps as China imports hit all-time high www.mining.com

At the end of November copper hit an 18-month high on the back of optimism about the possible impact of president-elect Donald Trump's $500 billion-plus infrastructure plan on the metal, widely used in construction, manufacturing transportation and power industries.

The price has since come off the boil, official customs data from China, responsible for some 45% of global consumption of the red metal, released overnight is helping the metal attempt these height again.

Copper futures trading on New York Comex added a couple of pennies trading near its day high of $2.6915 per pound ($5,934 a tonne) in lunchtime dealings. Copper is up 5.7% this week toCopper price jumps as China imports hit all-time high a one-month high.

China's refined copper imports surged nearly 30% to 490,000 tonnes in December compared to November, boosting imports for 2016 to a new record of 4.95 million tonnes, up just under 3% compared to the 2015 total.

Concentrate imports soared in 2016, with volumes gaining 28% year on year hitting an all-time high of 16.96 million tonnes for the year. December imports declined only 5% from the monthly record of 1.76 million tonnes in November.

Chinese imports compare to global mined production of an estimated 20.4 million tonnes per year.

After underperforming other metals and steelmaking raw materials for the better part of 2016, copper has been playing catch-up and is now up 40% from six-year lows hit mid-January last year.

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