|“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|
China’s stimulus efforts aimed at preventing the economy from slowing further and minimizing the impact of U.S. tariffs are supporting raw materials demand, according to Rio Tinto Group.
“The Chinese machine is still working very well,” CEO Jean-Sebastien Jacques said Tuesday in an interview with Bloomberg Television.
China has had a spurt of local bond issuance intended to fund roads, homes and other infrastructure developments, while tax cuts and other fiscal stimulus measures are being used amid efforts to shore up growth. Data released last week show the impact has yet to kick in, with infrastructure investment sliding to the slowest growth since early 2014.
Jacques this month led a 60-strong Rio delegation on a week-long tour of customers, suppliers and partners in China, where the producer gets 44 % of its revenue.
“The Chinese government is putting more money into the system and is pushing infrastructure,” Jacques said in the interview, on the sidelines of the International Mining and Resources Conference in Melbourne. “What came slightly as a surprise to us is that they are putting more money at the provincial level.” The Chinese government is putting more money into the system and is pushing infrastructure
Trade tensions could actually offer a boost for commodities producers, if the result is improved domestic demand in China, the largest consumer of raw materials, Paul Bloxham, chief economist for Australia at HSBC Holdings Plc, said in a separate Bloomberg TV interview. Still, there’s some uncertainty over the outlook because of the risk that tariffs could dent global growth, he said.
“They have been pulling forward infrastructure projects, loosening monetary policy to try to provide support for domestic demand, and that in turn is supporting commodities prices,” Bloxham said. The bank expects prices to rise over the next couple of years on demand in China and as a result of under-investment by miners in new supply. “What happens with China’s domestic demand is really what drives the overall story.”
Over the short term, steel production in China is on track for an annual record and is supporting consumption of raw materials, Rio’s Jacques said. The nation’s dominance in electric vehicles, where China is the largest market, will also support longer-term demand gains for commodities including bauxite, aluminum and copper, Jacques said. “We have no doubt that China will lead the way in terms of the electrical vehicle revolution.”
Miners are looking for any impact of China’s winter capacity curbs on smokestack industries — part of a broader anti-pollution drive — amid the efforts to support growth, South32 Ltd. CEO Graham Kerr told Bloomberg TV in an interview. “It’s going to be interesting to see just how those winter cuts fall into play as they try to balance the environmental concerns with where the economy is at,” he said.
The impact of the China-U.S. trade war could be to crimp Chinese GDP growth in the range of 0.5 to 0.75 percentage points, BHP Billiton Ltd. Chief Commercial Officer Arnoud Balhuizen said at the conference. The world’s top miner has slightly revised down its expectations for world growth in 2019 and 2020, he said.
BHP hasn’t so far felt any impact on its business, and demand for steel-making ingredients will be underpinned by China and India over the year ahead, he said.
Rio, which has an exploration pact with China Minmetals Corp., is open to adding new partnerships with suppliers, customers or others in China, Jacques said in the interview. The producer has a partnership with Apple Inc. and Alcoa Corp. to produce greenhouse gas emissions-free aluminum, while the sector may need to consider better collaboration to develop new technologies like autonomous ships, he said earlier in a speech.
(By David Stringer, James Thornhill and Haidi Lun)...
ULAN BATOR, Oct. 29 (Xinhua) -- Mongolia will organize a horse festival in an effort to pass on the horse culture to future generations and boost winter tourism, organizers said Monday.
The annual "Horses of Mongolian Steppe" festival will be held for the fifth year in eastern Khentii province starting Friday.
Co-organized by the Ministry of Environment and Tourism and the Governor's Office of Khentii Province, the festival will feature multiple activities, including horse racing and lasso competitions.
Mongolia ranks among the top worldwide in terms of horse population.
According to the National Statistical Office of Mongolia, there were over 66.2 million livestock animals in Mongolia as of the end of 2017, of which almost six percent were horses.
However, the Mongolian herdsmen prefer to ride motorcycles and cars to look for livestock animals instead of riding horses, which makes the preservation of the horse-riding culture a necessity.
Ulaanbaatar /MONTSAME/ President of Mongolia Kh.Battulga handed over an official letter regarding “consultation” to Chairman of the State Great Khural M.Enkhbold on October 29.
In the official letter, President Battulga condemns the Parliament and the Cabinets that were formed as a result of the 2016 General Elections over failures to fulfill their election promises and work in conformity with the law in exercising the State power.
The official letter reads, “…The Members of Parliament, having fully surrendered to the ways of treating the budget with a pre-election attitude based on narrow interests, trifling with the national economy, and using their power and influence for personal gains, are completely exploiting the constitutional principle: “A member of the Parliament is an envoy of the people and represents and upholds the interests of all the citizens and the state.” This has led to the loss of public support and trust in the highest organ of State power and further to the lack of guarantee that the forming of third and fourth Cabinets would result in national development and tangible outcome.
The Constitution of Mongolia declares that the State power is vested in the people of Mongolia. In this solid case where the highest organ of State power, the members of which are elected by the citizens, has clearly lost the trust and support of the citizens, it is no longer in a position to carry out its mandate.
The Section 2 of Article 22 of the Constitution of Mongolia states that “The Parliament may decide on its dissolution if not less than two thirds of its members consider that the Parliament is unable to carry out its mandate, or if the President, in consultation with the Chairman of the Parliament, proposes to do so for the same reason.” The Section 11 of Article 12 of the Law of Mongolia on President states that “If it is considered that the Parliament is unable to carry out its mandate, the President shall officially notify to the Chairman of the Parliament on the proposal to consult on self-dissolution of the Parliament. The Chairman’s disapproval of the proposal will not prevent the President from proceeding with his proposal in the Parliament.”
Therefore, I am hereby delivering a proposal to consult on self-dissolution of the Parliament.”
Ts.Elbegdorj, former President of Mongolia, and Member of the World Leadership Alliance – Club de Madrid (WLA – CdM) will lead a mission on 30 and 31 October 2018 to Lahore (Pakistan), aimed at promoting a dialogue on improving the socio-economic conditions of women workers in the agricultural sector in Pakistan. Meetings are planned with local authorities in the Punjab region, the Regional Assembly and other civil society actors.
During his visit, former President Ts.Elbegdorj, together with INSPIRED+ local team, Aurat Foundation and WLA – CdM staff, will participate in a roundtable on ´Launching of Participatory Policy Assessment Report on the Socio-Economic Rights of Women Working in the Agriculture Sector in Punjab´. It is expected that the Mongolian politician will also meet the Governor of Punjab, Chaudhry Mohammad Sarwar, and the Chief Minister of Punjab, Sardar Usman Buzdar, at Governor’s House and Chief Minister’s Office respectively. Lastly, former President Elbegdorj will participate in a meeting with women MPs of the Punjab Legislative Assembly. A talk with Pakistani national TV and a dinner with Pakistani journalists have been scheduled too.
The World Leadership Alliance – Club de Madrid is the largest, worldwide assembly of political leaders working to strengthen democratic values, good governance and the well-being of citizens across the globe. As a non-profit, non-partisan, international organization, its network is composed of more than 100 democratic former presidents and prime ministers from over 60 countries, together with a global body of advisors and experts practitioners, who offer their voice and agency on a pro bono basis, to today’s political, civil society leaders and policymakers.
INSPIRED+ is an action that is funded by the EU through the European Instrument for Democracy and Human Rights (EIDHR). The objective is to contribute through participatory and inclusive dialogue processes, to the effective implementation of the core UN and ILO conventions in nine beneficiary countries of the EU Generalized Scheme of Preferences (GSP+). The beneficiary countries of the action are: Armenia, Bolivia, Cape Verde, Georgia, Kyrgyzstan, Mongolia, Pakistan, Paraguay and the Philippin
Rio Tinto Group, the world’s second-biggest miner, said a pact to offload its stake in the $20 billion Simandou iron ore project in Guinea to its Chinese partner, Aluminum Corp. of China, has lapsed. Rio holds about 45% of the project, while Chinalco has about 40 percent and Guinea’s government owns a 15 percent stake
The parties had struck a non-binding agreement two years ago, when Rio said it could receive payments of between $1.1 billion and $1.3 billion for the stake, dependent on the project being developed. Rio and its partner, known as Chinalco, will work with Guinea’s government “to explore other options to realize value” from the asset, Rio said Monday in a statement.
Development of Simandou, which holds an estimated 2 billion metric tons of iron ore, has been hampered by issues including infrastructure requirements. Rio said in 2017 it had decided the project’s estimated $20 billion development costs were too high.
London-based Rio is assisting authorities in three countries over investigations into a $10.5 million payment to an external consultant made in 2011 in connection with the project. The company in 2016 alerted authorities including the U.S. Department of Justice and the U.K.’s Serious Fraud Office to the payment.
(By David Stringer)
Russian energy giant Gazprom will work with Russian Railways on the construction of a railroad which will run to the new Arctic port of Sabetta, on the western shore of the Ob river estuary, on the Yamal peninsula.
The project is set to be transferred to federal ownership so that the federal budget could back the potential investors, according to an unnamed government source, as quoted by Russian business daily Vedomosti. The partners are reportedly in talks with Russia's largest independent natural gas producer Novatek.
The new railroad is a vital transport corridor necessary for delivering cargo, transporting oil and gas, and moving freight from the Northern Latitudinal Railway to the Northern Sea Route. The new line will extend the existing 1097km-long (682 miles) railroad which connects the small northern settlements of Obskaya, Bovanenkovo and Karskaya to Sabetta.
The existing railroad is owned by Gazprom. The projected cost to build the extension will total up to 115 billion rubles ($1.7 billion), according to sources cited by the media.
The new concession agreement is going to replace the existing public-private partnership that had been clinched in 2015 between the government of Yamalo-Nenets Autonomous Okrug and VIS TransStroy, a subsidiary of VIS Construction Group. The firm was expected to finish construction by 2019, but the work hasn’t started.
China will lead global refinery capacity expansion and investments with 3.12 million bpd additional refining capacity and $67.3 billion capital expenditure through 2022, data and analytics company GlobalData said in a new report.
Total refining capacity in the world is expected to grow by 15.1 percent between 2018 and 2022, with global crude distillation units (CDU) capacity expected to hit 117 million bpd by 2022, GlobalData said in its report.
Asia will lead the pack with the highest planned and announced CDU capacity of 5.4 million bpd in 2022, followed by Africa and the Middle East with 3.2 million bpd and 2.7 million bpd, respectively. In capital expenditure (capex), Asia will again be the leader with expected capex for new build refineries of $194.9 billion, followed by Africa and the Middle East, with $126.6 billion and $87.1 billion, respectively, GlobalData has estimated.
Among individual countries, China is the leader, with ten new-build refineries expected to come on line by 2022, followed by Nigeria and Kuwait. The top ten also includes Iraq, Iran, Turkey, Brunei, Indonesia, the Philippines, and Saudi Arabia, GlobalData’s report shows.
“China’s ambitious refinery capacity expansion programme continues fuelled by the country’s industrial growth, and growing demand from the transportation sector. The capacity expansion program is powering China’s crude imports, and will transform the country to become a strong contender for exports of petroleum products globally,” Sumit Kumar Chaudhuri, Oil & Gas Analyst at GlobalData, said, as carried by East African Business Week.
Last month, Chinese refiners processed a record daily amount of crude oil. At a calculated 12.49 million bpd, the September run rate of Chinese refineries was more than 600,000 bpd higher than the August figure.
According to the GlobalData report, Nigeria is also planning a massive refinery expansion to meet growing domestic demand for petroleum products. The African OPEC member is expected to expand its CDU capacity by 2.003 million bpd, spending $57.6 billion. Kuwait will add 615,000 bpd of CDU capacity by 2022, and is expected to spend $7.5 billion through 2022.
Aspire Mining shares surge on revealing viable rail link between Ovoot and Russian border www.proactiveinvestors.com.au
Aspire Mining Ltd (ASX:AKM) has received a positive preliminary economic assessment (PEA) for a rail link for its Ovoot Coking Coal Project in Mongolia, from rail design and engineering firm Perfect Road Project LLC.
The PEA confirms a technically and commercially viable 238.6-kilometre line from the Ovoot project to the Mongolia-Russian border port of Arts Suuri.
This extension north-west from Ovoot to Arts Suuri when combined with the planned Erdenet - Ovoot rail line would complete the Mongolian section of the Northern Railway Corridor.
The Northern Rail Corridor is a combined initiative of the Mongolian, Chinese and Russian Governments with the potential to be the fastest, lowest cost rail path linking North Eastern China, Mongolia, Russia and Europe, significantly enhancing regional trade flows and economic benefits.
Importantly, the proposed new rail extension would open up additional Russian and European markets for the potential benefit of Aspire’s coking coal project.
The PEA applied Mongolian class 2 railway design standards to ensure compatibility with the Erdenet - Ovoot rail project and will have up to 15 million tonnes per annum capacity – with additional capacity able to be later added to meet demand growth.
Aspire executive chairman David Paull said: “The delivery of this PEA provides further confirmation of the viability of the Northern Rail Corridor.
“The company has provided this PEA to the Mongolian Ministry of Roads and Transport and Mongolian rail operator UBTZ Railways JSC to provide further justification to proceed to implementing the Ovoot to Arts Suuri rail project as part of the Northern Rail Corridor.’’
Aspire is targeting early production of washed coal from Ovoot within 12 to 15 months of approval and has formulated the Ovoot Early Development Plan (OEDP) including related funding commitments.
In support of the OEDP, the company has executed a cornerstone placement to Mongolian businessman and judo champion Tserenpuntsag Tserendamba, as part of a $15 million strategic financing package.
Ulaanbaatar/MONTSAME/ By the end of last week, the nationwide harvesting showed 90 percent fulfillment.
A total of 180 thousand tons of wheat have been sold so far, including 135 thousand tons for flour producers and 45 thousand tons for Farming Promotion Fund.
Throughout the country, 403 thousand tons of grain have been harvested from 298.5 thousand hectares, of which 386.6 thousand tons were wheat. Moreover, 160.8 thousand tons of potato and 93.5 thousand tons of vegetables have been cropped, which means that 99.9 percent of potato and vegetables, 80.6 percent of fodder plants and 57.3 percent of oil plants were harvested.
Alongside harvesting activities, works are being intensified to build a reserve of good quality seed. It is planned to formulate a resolution to intensify crop sales and provide loans with reduced interest to flour producers from commercial banks in order to purchase new crops and make it resolved by the government.
The owner of Leicester City FC died when his helicopter crashed outside the stadium, the club has confirmed.
Vichai Srivaddhanaprabha, two members of his staff, the pilot and a passenger were killed when the aircraft crashed at about 20:30 BST on Saturday.
Witnesses said the helicopter just cleared the King Power Stadium before it spiralled out of control and crashed in a fireball.
Thousands of bouquets and scarves have already been left outside the ground.
Leicestershire Police said it believed the dead to be:
Thai billionaire Vichai Srivaddhanaprabha
Two members of his staff, Nursara Suknamai and Kaveporn Punpare
Mr Swaffer had over 20 years' flying experience as a private jet and helicopter pilot.
His career included flying helicopters for live media broadcasting including Channel 4's The Big Breakfast and the Virgin Radio traffic helicopter.
Mr Swaffer's friend Lucie Morris-Marr said he was a "veteran in the field" and would have done all he could to prevent lives being lost in the crash.
She added that he was a "funny and vivacious" man who was in an "aviation love story" with Ms Lechowicz.
"Not many people get to work and travel with their soulmate, travelling the world going to glamorous places," she said.
The couple were professional pilots who lived together in Camberley, Surrey. Ms Lechowicz moved to the UK from Poland in 1997.
In a statement, the Polish embassy said: "With great sadness, we received the news about the death of Izabela Lechowicz in the Leicester catastrophe.
"She was a great pilot, winner of the #Polka100 contest. It contributed to the creation of a positive image of Poland in the UK."
Mr Vichai, 60, who was married and had four children, bought Leicester City for £39m in 2010.
Under his ownership the club won the Premier League in 2016, having started the season as 5,000/1 outsiders.
In a statement, Leicester City said the club's thoughts were with "the Srivaddhanaprabha family and the families of all those on-board at this time of unspeakable loss".
The club described Mr Vichai as "a man of kindness, of generosity and a man whose life was defined by the love he devoted to his family and those he so successfully led".
"Leicester City was a family under his leadership. It is as a family that we will grieve his passing and maintain the pursuit of a vision for the club that is now his legacy," it added.
A book of condolence will be opened at King Power Stadium from Tuesday morning. The team's next fixture against Southampton in the EFL Cup, scheduled for Tuesday evening, has been postponed.
Leicester goalkeeper Kasper Schmeichel, who witnesses said ran out of the stadium towards the crash scene, said Mr Vichai had "changed football forever".
"I cannot believe this is happening. I am so totally devastated and heartbroken," he added.
Club captain Wes Morgan tweeted: "Absolutely heartbroken and devastated regarding the news of our chairman. A man that was loved and adored by everyone here at lcfc."
Premier League chief executive Richard Scudamore said: "Vichai was a gentleman who graced the game with his civility and charm and we will miss him enormously.
"His impact on Leicester - the football club and the city - will be remembered forever."
Paris Saint-Germain, Inter Milan, West Ham United, Tottenham Hotspur, Nottingham Forest and Swansea City were among the football clubs that passed on condolences to Leicester.
The helicopter came down in a car park near the stadium just over an hour after Leicester had drawn 1-1 against West Ham United in the Premier League.
Leicestershire Police confirmed no-one else had been injured and said the Air Accidents Investigation Branch had launched an investigation.
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Supt Steve Potter said: "Emergency services were immediately on scene when the crash happened, working to put out the fire and gain access to the helicopter in attempts to reach those inside.
"Despite those efforts, there were no survivors."
Supt Potter said it was likely to take several days to complete the investigation at the crash site.
Freelance photographer Ryan Brown, who was covering the game, saw the helicopter clear the King Power Stadium before it crashed.
He told BBC Radio Leicester: "The engine stopped and I turned round and it made a bit of a whirring noise, like a grinding noise.
"The helicopter just went silent, I turned round and it was just spinning, out of control. And then there was a big bang and then [a] big fireball."...