1 VALE EVACUATES 200 PEOPLE FROM TOWN NEAR ITS MAR AZUL MINE WWW.MINING.COM PUBLISHED:2019/02/17      2 TOOTH PLAQUE SHOWS DRINKING MILK GOES BACK 3,000 YEARS IN MONGOLIA WWW.SCIENCENEWS.ORG  PUBLISHED:2019/02/17      3 INCREASING NUMBER OF CHINA-EUROPE FREIGHT TRAINS SUPPORTS MONGOLIA'S ECONOMY: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/17      4 TAX REVENUE INCREASES BY 33.7 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/02/17      5 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      6 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      7 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      8 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      9 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      10 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“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

NEWS

64x64

Billion-dollar Alberta coal company goes bankrupt www.mining.com

 
A coal company in west-central Alberta that in 2011 sold for $1-billion is bankrupt, killing hopes that its mine might re-open in the first quarter.
 
The Calgary Herald reported that Grande Cache Coal sent a letter to the town bearing the same name, warning that the company is heading into receivership, thus allowing it to restructure. The letter also said the metallurgical coal mine would re-open in July. According to the newspaper, Grande Cache Coal was forced into bankruptcy last week after the mining company's owner, Chinese coal producer Up Energy Development Group Ltd., defaulted on debt payments in 2016, having owed hundreds of millions of dollars.
 
About 220 employees lost their jobs in 2015 when the mine shut down, a victim of low met-coal prices. But it looked like the mine was going to enjoy a phoenix-like rise, when in November 2016 Grande Cache Coal and Up Energy said that surface-mine operations were expected to restart in Q1 2017. The restart – no doubt prompted by rocketing coal prices – would however depend on "shareholders' approval and the negotiation of key contracts," Grande Cache Coal said at the time. Steelmaking coal prices reached a multi-year high of $308.80 per tonne in November, but have since been in freefall. They settled at $167.80 on Friday, which is still better than 2016, when coking coal averaged $143 a tonne.
 
The bankruptcy is devastating for the small town town of 4,000 northwest of Edmonton, where Grande Cache Coal is the main employer; a year before it closed, the mine had a payroll of 500.
 
It's an unfortunate end to what looked like a bright future for Grande Cache Coal, which in 2011 was purchased for a whopping $1-billion by two Asian companies: Winsway, a Hong Kong-listed public company which imports coking coal for the Chinese steel industry, and Marubeni, a large Japanese trading house.The company was later purchased by Up Energy. At the time, met-coal prices had not yet been crushed by oversupply, waning demand and increasing regulatory burdens which threw the market into disarray. Most of the coal mined by Grande Cache was exported to Asia, where it was used for making steel.
 
According to the Herald a court-appointed receiver will put its Alberta mining assets up for sale, which include leases covering over 29,000 hectares, with an estimated 346 million tonnes of coal resources in the Smoky River Coalfield of west-central Alberta.
...


64x64

Draft agenda for Parliament spring session approved www.montsame.mn

Ulaanbaatar /MONTSAME/ During its meeting on February 7, Tuesday, Parliamentary Standing committee on State Structure discussed and decided to submit to Parliament a draft resolution on ‘Agenda for Parliament spring session of 2017’.

Parliament autumn session will close on February 10, Friday, and the Parliament must approve its agenda for the spring session.

As a result of a poll on the spring session agenda, 99 draft laws and legislations were collected, and 34 drafts have been selected. The selected draft legislations include important documents such as 2018 national budget framework paper, 2019-2020 budget assumption, Cabinet financial report of 2016, draft resolution on 2018 scheme for social and economic development of Mongolia, draft bill on amendment to the Constitution, draft resolution on medium term program for development of statistical sector in 2016-2020, draft bill on Mongolia’s foreign policy, draft bill on accountability of government higher officials either elected or appointed, revised bill on public service and others.

The Standing committee thus agreed to submit the list of 34 proposed draft bills and regulations to Parliament.  

...


64x64

State Commission on new airport meets www.montsame.mn

Ulaanbaatar /MONTSAME/ On February 7, Tuesday, State Commission to inspect the construction and equipment of new Ulaanbaatar International Airport (NUBIA) project held a meeting, and agreed that violations detected during the inspections are being corrected.

The 85-member commission led by B.Tsogtgerel, Deputy Minister of Road and Transport Development worked at the airport on January 2-17. The State Commission was divided into 11 sub-working groups assigned on different fields such as air navigation service, aerodrome, road facility, customs inspection, architecture, energy supply, communications, fuel supply and others.

Totally, 31 buildings, facilities and equipment at the airport were under inspection, and minor violations were detected.

Main contractor, prime sub-contractor, project unit and sub-contractors were instructed to correct the violations. An administrative division of the pre-operational NUBIA is currently in charge of monitoring the correction.

The State Commission resolved during its meeting that about 60 percent of the total violations have been corrected. However, after all the violations are corrected, the Commission will organize a re-inspection within the first season of this year.

...


64x64

Chinese investment targets trade routes www.chinadaily.com

Belt and Road areas will be 'hot places' this year, analyst says
China's overseas acquisitions may press on this year, with new impetus from the Belt and Road Initiative and international expansion of major Chinese companies, analysts said.

"As China has tightened its foreign exchange controls to tackle illegal and reckless activities in overseas markets, the development in countries and regions along the Belt and Road Initiative will become hot places for Chinese investment this year," said Zhang Jianping, director of the Commerce Ministry's research center for regional economic cooperation.

A number of big-ticket infrastructure projects have been launched on the two trading routes, including Sri Lanka's Colombo International Financial City project, the 40 billion yuan ($5.8 billion) China-Laos railway construction project that kicked off in December and the China-Thailand railroad project to be carried out later this year.

Zhang's comments follow a Financial Times report that said $75 billion in overseas mergers and acquisitions involving Chinese enterprises were called off last year. The United States led, with $59 billion in deals scrapped.

Although China's overseas investment hit a record high last year, the total number of mergers and acquisitions that fell through also surged. More than 30 in the US and Europe were halted as a result of regulatory clampdowns. The total value of the canceled deals increased by more than sevenfold from 2015, the report said.

The ministry's Department of Outward Investment and Economic Cooperation said on Tuesday that the $75 billion cited by the Financial Times was much too high and added that it will clarify the situation this week.

Wang Zhile, a senior researcher at the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said many Chinese companies will have advantages in conducting finance and investment activities in global markets this year. The country's overseas direct investment volume will remain stable and diversify this year, Wang said.

"Chinese conglomerates such as Shanghai-based Fosun Group, Dalian Wanda Group and Haikou-based HNA Group have already built financing platforms including an insurance company in the United States and listed companies in Hong Kong's stock exchange via merger and acquisition," said Wang.

Chinese outbound mergers and acquisitions rose globally by 114 percent to $208.6 billion last year compared with 2015. Chinese investment surged by 201 percent in Europe and 412 percent in North America, according to the annual M&A Trends report by the London-based law firm Clifford Chance.

Elaine Lo, head of China practice at Mayer Brown JSM, a global law firm, said the US has already showed its concern about China's rapidly growing investment momentum in overseas markets, especially in the high-end technology and military-related sectors.

"The Trump administration may be even more conservative on China's ODI activities. It won't be changed within a short period," said Lo. "It will also lead to trade protectionism measures. The United Kingdom and Germany may also follow the step of the US government."

Peter Batey, chairman of Vermilion Partners, a global investment bank, said, "As the volume of Chinese outbound acquisitions rises to record heights, it is inevitable that some foreign governments will eventually begin to feel obliged to likewise raise their own levels of scrutiny of such deals."

Ren Xiaojin contributed to this story.

...


64x64

Dried bonito maker to get certificate for EU sale www3.nhk.or.jp

 
A company in central Japan is to become the first dried bonito maker to get a certificate needed to export the key ingredient of Japanese cuisine to the European Union.
 
Dried bonito is used to make broth. Demand for the product is rising in Europe thanks to the popularity of Japanese dishes, but strict EU food hygiene standards have prevented exports from Japan.
 
The company in Yaizu, Shizuoka Prefecture, will soon receive certification under the Hazard Analysis and Critical Control Point System, an international standard for food safety management.
 
The maker has renovated its factory to meet the EU regulations with help from local authorities.
 
It hopes to start exports in the new fiscal year, which begins in April.
 
Company President Tokuya Kuno expressed his hope to promote made-in-Japan dried bonito in Europe.
...


64x64

China-Russia rail bridge on right track www.chinadaily.com

Key trade link receives shot in the arm from $110m funding package

The construction of a cross-border rail bridge between China and Russia has moved a step closer to completion because the project's funding gap has been covered, government officials said on Monday.

With a total investment of 2.6 billion yuan ($379 million), the bridge will connect Tongjiang in China's northeastern Heilongjiang province with Nizhneleninskoye in Russia's Jewish Autonomous Oblast.

Known as the Amur International Rail Bridge or the China-Russia Tongjiang Rail Bridge, once completed it will be the first of its kind between the two countries and will serve as the key transportation link that is expected to boost bilateral trade previously constrained by the region's poor transport infrastructure.

The latest round of financing worth $110 million came from a Sino-Russian joint venture backed by China Investment Corp, the Chinese sovereign wealth fund, according to the local government.

"It means that the financing problem from the Russian side has finally been solved," said Zhang Ruohui, an official from the Commerce Department of Heilongjiang province.

Construction of the bridge started in 2014, but it came to a halt due to the funding problem and construction delays by the Russian side.

Wang Jin, the mayor of Tongjiang, said that the bridge will help boost the city's standing as a transportation hub with Russia, and will enhance its role in the China-Mongolia-Russia economic corridor.

"The bridge will help unleash the potential of Tongjiang as a key transportation hub in the region," Wang said.

The bridge is also expected to help boost China's trade with Russia and significantly reduce transportation costs. Bilateral trade between China and Russia stood at $69 billion last year, according to official data.

The bridge will also help boost the economy of Heilongjiang, Wang added.

Xu Tao, a Central Asia studies researcher at the China Institutes of Contemporary International Relations, said the long and difficult process of the bridge project showed there may still be many difficulties for China and Russia to overcome in their future partnership to jointly develop the Far East region.

"Securing funds has long been a hurdle. Insufficient mutual trust and Russian doubts over China's intention to develop the region have been another source of uncertainty for Sino-Russian cooperation," Xu said.

 
 
 
...


64x64

No Privatization for Russian Railways Until 2020, Deputy Prime Minister Claims www.themoscowtimes.com

The Kremlin will not privatize Russian Railways within the next three years, a top government official has claimed.

First Deputy Prime Minister Igor Shuvalov, head of the government’s transport and communications commission, said that the railways would not be privatized before then end of 2019.

The Russian government could instead sell off a small share in the state-owned enterprise, Shuvalov told the Izvestia newspaper. The Kremlin is currently Russian Railways sole shareholder.

"It would be a very small share which could then be used as part of a private pension fund,” he said. “But right now, this is not on the agenda," he said.

The Russian government plans to privatize more than 500 joint-stock companies between 2017 and 2019, Deputy Prime Minister Dmitry Kozak announced last week. Russian media reports had named Russian Railways as one of the likely targets for privatization plans, alongside Russia’s VTB bank and the Russian postal service.

...


64x64

China to become #1 economy by 2050, US to fall behind India, Russia to top Europe – PwC www.rt.com

Over the next three decades, the global economy will be dominated by China, and the US economy will lose steam and fall behind India, says consulting firm PricewaterhouseCoopers (PwC).
Russia will become the leading European economy ahead of Germany, UK, and Italy with GDP of $7 trillion, according to a PwC report.

The report, called "The long view: how will the global economic order change by 2050?," ranked 32 countries, based on their projected Gross Domestic Product by Purchasing Power Parity (PPP).

PwC concluded that by 2050, China’s GDP would reach $58.5 trillion, India, over $44 trillion, while the US will have a $34.1 trillion economy.

“We expect this growth to be driven largely by emerging market and developing countries, with the E7 economies of Brazil, China, India, Indonesia, Mexico, Russia and Turkey growing at an annual average rate of almost 3.5 percent over the next 34 years, compared to just 1.6 percent for the advanced G7 nations of Canada, France, Germany, Italy, Japan, the UK and the US,” the report said.

Given a robust annual growth of four to five percent, Vietnam, the Philippines and Nigeria are predicted to make the greatest move up the GDP rankings.

The US and Europe’s share of global GDP are expected to shrink, while the Chinese and Indian economies are projected to grow significantly.

The consulting firm also predicted 2050 GDP numbers based on market exchange ratings, an alternative method for GDP calculation. In these rankings, the US will lose global dominance by 2030, and the gap will only grow by 2050 with China having a nearly $50 trillion GDP, and the US having the same $34.1 trillion.

Purchasing Power Parity (PPP) is an economic theory that compares different countries' currencies through a market "basket of goods" approach. PPP determines the economic productivity and standards of living of various countries over a period. Since market exchange rates fluctuate substantially, many economists consider PPP as a more precise way of estimating a country’s economy.

...


64x64

Mongolia to cooperate with Russia on livestock health www.montsame.mn

Ulaanbaatar /MONTSAME/ P.Sergelen, Minister for Food, Agriculture and Light Industry met with I.K.Azizov, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Mongolia on February 3.

At the beginning of the meeting, the Minister expressed his readiness to especially focus on Mongolia’s cooperation in food, agriculture and light industry with its old friend Russia, and appreciated the contribution of Russian Government and its Embassy in the development of Mongolia agriculture sector.

Sides exchanged views on realizing projects on improving the health of Mongolia’s livestock and producing a new seed sort adaptive to Mongolia’s climate.

As the Minister touched upon the issue of supply of murrain vaccination in the frameworks of the 2nd phase of the project on livestock health, the Russian side expressed its readiness to facilitate a consultative meeting between specialists from both sides, and cooperate on this issue.

The meeting concluded with the two sides expressing their willingness to expand bilateral cooperation in food, agriculture and light industry.

...


64x64

Honda, Hitachi Automotive say to form EV motor joint venture www.reuters.com

Honda Motor Co Ltd (7267.T) and Hitachi Ltd's (6501.T) automotive unit said on Tuesday they would form a joint venture to develop, produce and sell motors for electric cars.

The venture will have sales and manufacturing functions in the United States and China in addition to Japan, the companies said in a press release.

The joint venture, to be established in July, will be owned 51 percent by Hitachi Automotive Systems and 49 percent by Honda, they said.

(Reporting by Naomi Tajitsu and Taiga Uranaka)

...