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



Iron ore soars past $80 a tonne www.mining.com

Iron ore prices continued to rally on Friday, trading above the $80 a tonne level, even after falling $0.12 per tonne overnight.
The import price for 62% iron content fines at the port of Qingdao was at $81.66 a tonne, data from The Metal Bulletin Index shows, which means that — year to date — the price of the steelmaking raw material is up 85% or more than double its price of December 2015.
The rally has been largely attributed to strong infrastructure investment in China, as well as the country’s slowdown in supply growth, following Beijing’s decision to close 100 – 150 million tonnes of steel capacity through the end of the decade to increase profitability of remaining producers and tackle pollution.
Authorities are also pushing for consolidation of steel producers with a target of 60% market share for the top 10 steelmakers, which should translate into higher prices for steel, iron ore and met coal.
Soaring iron ore prices are also a result of increased demand from China, which according to official figures released Friday, reached 80 million tonnes in October, 7% more than in the same month last year.


Qantas to fly from London to Australia non-stop www.bbc.com

Passengers will be able to fly from London to Australia non-stop when airline Qantas launches its new service from March 2018.
Australia's national carrier says it will connect Perth, in the west of the country, to the UK capital using Boeing 787-9 Dreamliners.
The 9,000 mile (14,498km) flight will take 17 hours.
Perth will be a hub for passengers from eastern Australia going to the UK, tourism minister Steven Ciobo said.
He also said the new service would boost employment and tourism in Australia, a sector growing three times faster than the rest of the national economy, and one that supports 580,000 jobs.
Mr Ciobo also said that the UK was Australia's third-largest source of international visitors, with 660,000 people travelling from there to Australia in 2015.
"When Qantas created the Kangaroo Route to London in 1947, it took four days and nine stops," Qantas chief executive officer Alan Joyce said.
"Now it will take just 17 hours from Perth non-stop."
He added: "The opportunities this opens up are huge.
"It's great news for travellers because it will make it easier to get to London. It's great news for Western Australia because it will bring jobs and tourism. And it's great news for the nation, because it will bring us closer to one of our biggest trade partners and sources of visitors."
The Boeing 787-9 Dreamliners used on the route will carry 236 passengers, Qantas said.
The new flights will make up the longest non-stop passenger route in the world.
The current longest non-stop scheduled flight is Emirates Airlines' 14,200-kilometre Dubai-to-Auckland, New Zealand, service, which takes 16 hours 35 minutes in an Airbus A380.
The first air travel connecting the UK to Australia began in 1935, flying passengers from Sydney to Singapore, where services linked with London-bound flights.
However, the journey time to London was 12 days and included a section on a train.
Qantas launched its pioneering weekly service on the Kangaroo Route on 1 December 1947, initially taking four days and carrying 29 passengers and 11 crew from Sydney to London.
The journey flew to Darwin, in northern Australia, and then on to Singapore, Calcutta in India, Karachi and Cairo, before it travelled to Tripoli, in Libya, and then on to London.
The announcement of the new route comes as Boeing also announced airline Iran Air was buying 80 of its passenger planes.
The 10-year deal includes the purchase of 50 Boeing 737 aircraft and 30 777 planes.


Non-OPEC countries agree to cut oil production by 558,000 barrels per day www.rt.com

Non-OPEC countries agreed to cut oil production by 558,000 barrels per day (b/d) during a meeting with members of the Organization of Petroleum Exporting Countries (OPEC) in Vienna.
Among the non-OPEC participants at the meeting were 12 oil exporting countries – Azerbaijan, Oman, Mexico, Sudan, South Sudan, Bahrain, Malaysia, Equatorial Guinea, Bolivia, Kazakhstan and Russia.

The 558,000 b/d figure was voiced by Qatar's energy minister at a press conference following the six hour long talks.

OPEC members also confirmed their commitment to the plan to reduce the oil supply by 1.2 million b/d. This, together with the commitments made by non-OPEC states, would lead to the total reduction of oil production by about 1.7-1.8 million b/d, Russian Energy Minister Aleksandr Novak said at the press conference.

Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih told the press conference that 2017 would be a “good year” for the global oil market.

The parties to the negotiations also agreed to form a special group to monitor the observance of the agreement both by the OPEC and non-OPEC countries. The group would consist of three OPEC members and two non-OPEC countries, Novak said.

"This agreement cements and prepares us for long-term cooperation," Saudi Energy Minister Khalid al-Falih told reporters after the meeting, calling the deal "historic".

"Today's deal will speed up the oil market stabilisation, reduce volatility, attract new investments," Novak said.

The deal became the first such agreement between OPEC and non-OPEC countries since 2001. In April, OPEC and Russia tried to reach a deal on oil production which was cut during negotiations in Doha, but failed to come to an agreement, as Saudi Arabia sunk the deal at the last moment.

OPEC made a decision to cut its own output on November 30.

Following the decision, Saudi Arabia informed its customers in Europe and North America that it would cut its oil supply in January. According to PIRA Energy Group chairman Gary Ross, buyers of Saudi oil were informed that Riyadh wants to cut its production by 486,000 b/d to just over 10 million.

UAE then followed suit and also announced that it would take similar action.

While some non-OPEC countries are also expected to cut their oil production in January, others have said they might wait until October.

OPEC’s November decision put an end to the ’pump-at-will’ policy the group has conducted since 2014, which sent oil prices down from $100 a barrel to less than $50 a barrel. Now, both OPEC and non-OPEC oil exporters are trying to push prices up.

The market reacted to the November move with rising oil prices, which went up by 17 percent after the group announced its decision. The prices continued to go up on Friday amid speculation that non-OPEC countries would agree to cuts.

The projected reduction in oil production amounting to up to 1.8 billion b/d, that is set to follow the Saturday agreement and OPEC's November decision, would account for about two percent of the current global oil supply.



China suspends coal imports from N.Korea www3.nhk.or.jp

The Chinese government announced it is suspending coal imports from North Korea for the rest of the year in line with the latest UN sanctions against Pyongyang. The trade has been the country's main source of revenue.

China's Ministry of Commerce released a statement on Saturday that the 3-week suspension starts on Sunday and ends on December 31st.

It says the decision was to implement a new sanctions resolution adopted by the UN Security Council on November 30th, in response to North Korea's 5th nuclear test in September.

The resolution slashes coal exports to less than half the current amount. China has been the main buyer.

Analysts say China is trying to demonstrate its resolve to adhere to the UN resolution.

But Beijing has yet to reveal its import quota for next year.



Trump & Boeing: It's not about Air Force One, it's about China www.cnn.com

Boeing executives were blindsided by Donald Trump's Tuesday comments about the cost of Air Force One, but those weren't the tweets that worried America's largest exporter.
Many former and current Boeing executives say they're far more worried about Trump's antagonism toward China, the largest and most important growth market for the crown jewel of American manufacturing.
"The vulnerability to China is pretty clear," said one former senior Boeing executive.
In contrast to the long term stakes over Boeing's future in China, the flap over the cost of Air Force One lasted 24 hours.
Boeing would be a prime target in any retribution by China if Trump follows through on his campaign threat to impose a hefty tariff on Chinese imports.
A shift of orders to Airbus would likely cause a rippling drop in output for Boeing, a loss of jobs, and, crucially, a loss of market share that would give Airbus the ability to lower prices and win other deals.
One-quarter of the nearly 500 Boeing 737 jets delivered in 2015 went to Chinese airlines, serving a fast-growing middle class that's as large as the entire U.S. population. The market is worth a trillion dollars over the next 20 years.
Everyday, Boeing's factories are filled with colorful jets for Chinese airlines that Americans won't recognize: Xiamen, 9 air, Donghai, Ruili, Hainan, Hebei, Shandong and Shenzhen.
Boeing eyes China focus with new sales chief
Starting with the unexpected congratulatory phone call with the President of Taiwan in the days that preceded the Air Force One tweet, Trump upended decades of U.S. foreign policy that tiptoed around the nation's relationship with Taiwan.
The worry among current and former Boeing leaders is that increased antagonism toward China on trade or an even closer diplomatic posture toward Taiwan may have consequences for U.S. businesses - and Boeing has the most to lose.

"I think it's all uncharted waters," said one Boeing customer who rents planes to China. In trying to interpret Trump, "I think we're going to get it wrong for a while."
Boeing is no stranger to being caught in the middle of diplomatic tensions. A Boeing loss of a 2013 fighter deal in Brazil was largely attributed to leaked revelations that the U.S. had spied on the Brazilian president. U.S. and European sanctions on Russia in 2014 also threatened to disrupt the supply of Russian titanium used on Boeing's jetliners.
"China is a different ballgame," said the former executive and orders are very sensitive to geopolitics. The U.S. has a "very delicate tightrope to walk and not impact our ability to sell."
Boeing's position in the U.S. economy is without parallel. No other big company enjoys its unrivaled domestic monopoly status. It hasn't had a U.S. competitor since 1997 and the battlefield on which it fights European Airbus and a cadre of ascending players is global.
China to spend $1 trillion on 6,810 new aircraft
Traditionally, the President of the United States has been Boeing's biggest booster at home and abroad.
"I deserve a gold watch, because I'm selling this stuff all the time," President Obama told Boeing workers in 2012. "I will go anywhere in the world to open up new markets for American products."
And Obama has. Big Boeing orders have featured prominently as part of state visits between China and the U.S.
China has bet roughly equally on new airliners from Europe and the U.S. to build its airlines. At the same time, China is cultivating its own commercial airliner industry to one day compete with Boeing and Airbus.
Want to earn $300,000 tax free? Try flying a plane in China
Expanding manufacturing in a hot market is a hallmark of the global aerospace business. In the coming years, Boeing plans to open a facility near Shanghai to install airline cabins inside of 737s for China's airlines. Airbus already assembles competing A320 jets in China and recently opened a similar plant in the U.S.
Boeing has long said that it isn't opening final assembly plants outside the U.S. and the China facility and its plans there support thousands of jobs stateside with the increasing orders.
No date for its opening has been disclosed.



Trade probes into Chinese steel up year-on-year: official www.chinadaily.com

BEIJING - Chinese steel saw more trade remedy probes during the first 11 months of 2016 than the previous year, an official said on Friday.

A total of 41 investigations were launched over steel products imported from China by 16 countries and regions, up 24 percent year on year, and involving products worth $6.8 billion, Shen Danyang, a spokesperson of the Ministry of Commerce, said during a press conference.

"Members of the World Trade Organization have the right to initiate such investigations, but they must strictly observe related rules and fully ensure the legal rights and interests of Chinese companies," Shen said.

Given the worldwide steel overcapacity, many countries have resorted to protectionism and blamed Chinese steel for their domestic economic woes, instead of pressing ahead with reforms.

"The world should work together to face the problem, rather than just targeting China," Shen said.

China has made steady headway in downsizing its own steel production. The industry slashed 45 million tonnes of capacity in the Jan.-Nov. period ahead of schedule, and regulators have shut down illegal projects and guaranteed there will not be any illegal new steel mills.

In fact, China digests most of its steel production. In the first ten months, China exported 92.63 million tons of steel, up only 0.5 percent from a year ago.



Hitachi rolls out 1st train car at British factory www3.nhk.or.jp

Japanese electronics firm Hitachi has rolled out the first train car assembled at its factory in northern Britain.

The new train was unveiled at the plant in Newton Aycliffe on Friday at a ceremony attended by British government officials and media.

The train is designed to travel at around 200 kilometers per hour. It can carry diesel engines, which will enable it to run on non-electric tracks.

Hitachi built the factory last year after the firm won a contract worth about 7.1 billion dollars to manufacture 866 carriages. It will build most of the new carriages there.

British Transport Secretary Chris Grayling said the strength of the relationship with countries like Japan is vital for Britain after its exit from the European Union.

Hitachi executive Kentaro Masai said the success of the train will create new opportunities for the firm elsewhere in the country.

Hitachi is aiming to win other contracts for major rail projects in Britain, including one to build a large-scale high-speed rail network.



Microsoft plans to win VR race www.chinadaily.com.cn

Virtual reality applications in China now exceed those in the United States MA SI
Microsoft Corp said on Thursday its mixed reality headset, called HoloLens, will come to China in the first half of 2017, as the United States tech giant steps up efforts to tap into the country's software developers and into local firms' desire to achieve digital transformation.
Terry Myerson, the executive vice-president of the Windows and Devices company at Microsoft, said the firm will launch HoloLens for Chinese developers and commercial customers. He did not disclose the specific price tag, just saying it will be around $3,000, roughly the same as in other countries.
"We believe China, or, broadly speaking, Asia, could be leading the world in terms of mixed reality. We are seeing more virtual-reality-enabled activities here than in the United States," Myerson said on the sidelines of a manufacturing partner conference in Shenzhen.
HoloLens allows users to view virtual objects and characters in the real life environment. Microsoft is competing with Google Inc-backed Magic Leap and other players in the race for lead in the nascent market.
The company also published technical specifications it co-developed with Intel Corp for PCs that can power headsets capable of mixed reality. Lenovo Group Holding Ltd, Dell Inc and other PC vendors will start shipping the first VR goggles next year.
These gadgets will come with the Windows 10 Creators Update, the latest version of its Windows operating system. And unlike other VR headsets, there will be no need for a separate room and complicated setup, Microsoft said.
James Yan, research director at Counterpoint Technology Market Research, said the move is part of Microsoft's broad efforts to build a virtual reality ecosystem.
"Microsoft has a dominant position in the PC operating system market, but it missed opportunities in smartphones. Now it is seeking to replicate its success in virtual reality gadgets," Yan said.
Asked when HoloLens will become available in the consumer market over the next three to five years, Myerson quoted Bill Gates. "We often overestimate what will happen in the next three years and underestimate what will change in the next 10 years."
Yan from Counterpoint said: "Currently, HoloLens is still too expensive for consumers. If the price is lowered to below 10,000 yuan ($1,470), it will gain an advantage," Yan said.
According to market research firm Net Applications, the Windows 10 operating system accounted for 23.7 percent of the PC market in October, a rise of 1.1 percentage points from the previous month.


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Samsung may emerge as the largest recruiter from IITs this year www.economictimes.indiatimes.com

NEW DELHI | MUMBAI: Samsung is set to emerge the top recruiter from IIT campuses this year with plans to hire more than 300 engineers from the country’s premier technology institutes.
The South Korean mobile phone and electronics major is leading the race in terms of making maximum offers in at least three Indian Institute of Technology (IIT) campuses after the first eight days of final placements this year.
Other big recruiters that have made a large number of offers so far across IITs include EXL, Reliance IndustriesBSE 0.61 % (RIL) and Capgemini. Despite facing a rough time globally since the first reports of the Note 7 catching fire came to light in early September, Samsung is in aggressive hiring mode.
A Samsung India spokesperson said the company plans to hire over 300 engineers from the IITs this year for its research and development (R&D) institutes in Bengaluru, Noida and Delhi.
"IITs offer some of the best engineering talent in India, and these young engineers are well-suited to the innovation mindset at Samsung," the person
According to data from campuses, Samsung made the maximum number of offers at IIT Roorkee, IIT Varanasi (Banaras Hindu University) and Guwahati, handing out 95 offers in these three campuses.
At IIT Kharagpur, it is trailing only Coal IndiaBSE -1.62 %. Samsung is also hiring aggressively from other top IITs such as Delhi, Bombay, Madras, Kanpur and Hyderabad. Another top recruiter this year is outsourcing and analytics service provider EXL that has visited eight IITs, including Bombay, Delhi, Kanpur, Kharagpur, Roorkee, Madras, Guwahati, and BHU (Varanasi) this year, and made 127 offers, up from 111last year.
"Driven by its growth-induced demand, EXL has been consistently increasing its offers at the campuses primarily due to the quality, aptitude and trainability of the candidates," said Vivek Jetley, senior vice-president, EXL Analytics.
"EXL hires primarily for its consultant role from all the above campuses," he added. Placements at IITs started on December 1 and are still ongoing. The first phase of the process will end later this month, only to pick up again in January.
"Samsung Bangalore has been the top recruiter at our institute this year with 25 offers," said Kaustubha Mohanty, head, centre for career development, IIT Guwahati. Other top recruiters from the campus so far include data analytics company FICO with 15 offers, and EXL and RIL with 11 offers each.
At IIT Kharagpur, placement chairperson Debasis Deb said Coal India is set to be the top recruiter for the second year in a row, having made 26 offers so far. It is followed by Samsung Bangalore and EXL with 22 offers each, and Mentor Graphics and ZS Associates with 14 offers each.
At IIT Roorkee, Samsung made 26 offers, followed by WiproBSE 0.03 % with 23 offers, Microsoft with 17, Reliance Industries with 16, and Citicorp Services India and EXL with 15 offers each.
Microsoft was the largest recruiter last year with 31offers, said NP Padhy, professorin-charge for placement at the institute. Microsoft declined to comment on the marginal dip in its hiring numbers this year. The software giant has so far made more than 70 offers across IITs this year, including 20 offers for international profiles.
"Our drive at IITs this year is in keeping with our increased focus on R&D and engineering excellence as we move towards becoming a cloud and services organisation," a Microsoft spokesperson said in an email response.
Power management company Eaton also recruited in good numbers. It made 11 offers at IIT Hyderabad to emerge the single largest recruiter there while at IIT BHU it made 10 offers.
At IIT BHU, Samsung made 44 offers followed by Goldman Sachs with 23 offers, Citi Corp with 22, and Capgemini with 21 offers. BHU offer numbers include pre-placement offers. At IIT Madras, the companies in pecking order (starting from highest number of offers) are Intel, Citicorp Services, Samsung R&D Bangalore, Eaton, EY, EXL and Axis BankBSE 0.41 %.