Takanohana dismissed as sumo director www.nhk.or.jp

Councilors of the Japan Sumo Association have demoted stablemaster Takanohana from the post of director over his handling of an assault scandal.

Japan sumo champion Harumafuji fined over assault www3.nhk.or.jp

Former sumo grand champion Harumafuji has been fined 500,000 yen ($4,400; £3,280) after being found guilty of assault.

Spotify makes confidential filing for U.S. IPO: source www.reuters.com

NEW YORK/SAN FRANCISCO (Reuters) - Music streaming service Spotify has filed confidentially with U.S. regulators for an initial public offering and is targeting a direct listing in the first half of 2018 that would allow some longtime investors to cash out, a source familiar with the matter said on Wednesday.

China aims to become world’s leading cyber power by 2035 www.rt.com

The world’s second-largest economy, China, is poised for breakthroughs in cyberspace, says the country’s Ministry of Industry and Information Technology (MIIT). Beijing wants to be in the forefront of the booming digital economy.

Mongolia joins “Inclusive Framework on BEPS” to counter multinational firm tax avoidance www.mnetax.com

Mongolia has joined the “Inclusive Framework on BEPS,” bringing the number of participating countries to 111, the OECD announced today.

New international airport - building work practically completed www.news.mn

Mongolia is constructing a new international airport located to the south of the capital Ulaanbaatar. The new airport will provide better safety and reliability, good links to the city and will contribute to the economic development of Mongolia. The new international airport is under construction in the Khusig Valley, 52 km south of Ulaanbaatar in the Sergelen sum (district) of Tuv province.

Mongolian Copper Corporation announces official reinstatement of 49 percent stake in Erdenet www.theubpost.mn

Mongolian Copper Corporation (MCC) announced that its 49 percent stake in Erdenet Mining Corporation (EMC) has been officially reinstated by the Government Agency of Intellectual Property and State Registration and issued a renewed certificate of legal entity on December 28.

On December 7 2017, the Supreme Court of Mongolia held the final hearing on the case relating to shareholder’s dispute of EMC and ruled in favor of MMC.

MMC said that the official reinstatement is an important development and commended the current Cabinet for delivering a guidance to the Agency for Policy Coordination and State Property and the Government Agency of Intellectual Property and State Registration, defendants in the case, instructing them to reinstate interest and share ownership of MCC according to the Constitution and other legislations of Mongolia.

“The current government’s action shows critical aspect of rule of law’s system by rescinding the previous government’s decision, which was determined to be illegal by the Supreme Court,” MMC stated.

The final decision on the case, which has lasted over a year, in respect to the shares of and the future of EMC as a public-private partnership company not only demonstrates the rule of law in local businesses but also an important step for Mongolia to maintain its investment friendly status for foreign investors, according to MMC.

“This dispute was not only the case of MCC but also showed that hundreds of foreign and local investors, and thousands of local companies can protect their legal and commercial interests pursuant to the rule of law and by independent judiciary in Mongolia,” it added.

MCC stated that it expects that the majority shareholder, the government, to honor and follow the Company Law of Mongolia by respecting the minority shareholder’s interest and cooperating with MCC to increase efficiency, revenue to the state budget and work together in creating a better work environment for the thousands of employees of EMC.

Erdenet Mining Corporation’s (EMC) net profit increased by 273 billion MNT compared to 2016, following the change in minority ownership. According to EMC officials, change in ownership and management has allowed engineers to be more flexible and undertake reform in the company’s operation.

In 2016, EMC recorded a net profit of 27 billion MNT, while 2017 saw EMC record 273 billion MNT in net profit so far.

EMC was previously a Mongolian-Soviet joint venture, established in 1974, and later transformed into a Mongolian-Russian venture. In 2016, it was announced that the Russian state-owned Rostec would be selling off its 49 percent stake in Erdenet for 390 million USD to MCC, a phantom corporation for one of the largest private banks in Mongolia, the Trade and Development Bank.

In February 2017, Parliament had decided to nationalize the 49 percent stake in EMC due to questions regarding the legitimacy of the purchase. With the overturning of the decision by the Supreme Court, MMC has been officially reinstated as a minority shareholder and will be allowed to appoint members on the board of EMC.

Working group on air pollution discusses scientists' recommendations www.montsame.mn

Ulaanbaatar /MONTSAME/ “Reduction of air pollution in the capital city comes down to the reduction of smoke produced by ger areas,” said academician D.Regdel, President of the Mongolian Academy of Sciences on January 3.

He made a report on the follow-up actions of a Prime Ministerial ordinance issued on January 6, 2017. Former Prime Minister J.Erdenebat had formed a working group of scientists and tasked them to find solutions to reduce air pollution.

The academician pointed out that ger areas contribute 80 percent of smog in the capital city whereas vehicles generate 12-13 percent of smog and chimneys of steam boilers about 7-8 percent. The working group consisted of three sub-groups working in three directions – energy, heat supply solution and reduction of vehicle smoke.

“It is necessary to provide cost-effective warm pads to 200 thousand households in order to reduce heat loss, build a factory of thermal accumulators which maintain and reserve heat at minus 20-24 degrees Celsius, and expand the electricity distribution network,” he said.

It has been calculated that MNT 55.8 billion will be required to build a new electricity distribution network in the capital city and MNT 24 billion to expand the current network.

The scientists also suggested some additional measures such as converting public transport diesel buses to gas and imposing vehicle taxes proportional to the amount of harmful pollutants emitted.

“Overall, there is a possibility to reduce air pollution if we take decisive measures, adapt a comprehensive plan, and ensure accountability in the implementation,” the academician concluded in his report delivered at the second meeting of a parliamentary working group on air pollution reduction.

Formed on December 28 pursuant to an ordinance of Parliament Speaker M.Enkhbold, the working group is designed to draft bills and recommendations during necessary inspection of the implementation of resolutions and decisions on air pollution reduction issued by the Parliament, Parliamentary Standing Committees and Sub-Committees, and supervise the Cabinet regarding the same. The working group met for the first time on December 28.

During the January 3 meeting, working group leader, MP Yo.Baatarbileg had pointed out that the second meeting of the working group aimed to discuss the view and recommendations of scientists on air pollution.

After the discussion of the report, the working group members agreed to work in ger areas to obtain first-hand information on the situation of households in ger areas, and familiarize with anti-air pollution operations run by government and non-government organizations and entities. On January 4-12, three sub-groups led by MPs S.Byambatsogt, L.Oyun-Erdene and L.Eldev-Ochir will work in districts.

The working group also agreed to hold a joint meeting of the Parliamentary Standing Committees on Environment, Food and Agriculture and Social Policy, Education, Culture and Science to discuss the establishment of a sub-working group and drafting of air pollution bills.

The meeting was attended by representatives of the Ministry of Environment and Tourism, Ministry of Energy, Ministry of Health, Ministry of Education, Culture, Science and Sport, the National Committee on Environmental Pollution Reduction, Mayor’s Office and the Mongolian Academy of Sciences.

Mongolia CTG path mapped out www.energynewsbulletin.net

PERTH-based Tian Poh Resources has inked a deal to create a special-purpose vehicle with a major Chinese group to advance its coal to gas project in Mongolia.

Russia's Oil Friendship With China Makes Crude Costly for Europe www.themoscowtimes.com

(Bloomberg) — Europe’s set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market.

As the world’s second-biggest economy buys more, crude shipments from Primorsk port in the Baltic region will be cut, according to industry consultant FGE. The reduction will push up the price of varieties available for sale to Europe. Russia is already the biggest supplier to the China, and will probably boost exports to the country by 200,000 barrels a day in 2018 from a year earlier, FGE said.

After a glut sparked the biggest price crash in a generation and starved Russia of oil revenues, the nation sought to boost market share in the world’s top importer. It’s now supplanted Saudi Arabia as the top exporter to China, even as the two producers lead efforts to shrink the global oversupply by curbing output. A pipeline that transports crude from the East Siberia-Pacific Ocean system has helped its mission to increase volumes.

“Russia is starting in effect immediately to shift crude exports away from Europe to China,” FGE said in a Dec. 29 note. “While we see overall crude exports from Russia flat year-over-year in 2018, this is bullish news for the Urals price due to its lower availability, in particular from the port of Primorsk.”

This increase in China-bound deliveries is expected to cut exports from Primorsk in January and February, and reduce pipeline flows to Eastern Europe in March, according to FGE. Shipments of the Urals grade from the port in January will likely fall by 160,000 barrels per day, compared with a year ago, while supplies from Novorossiysk in the Black Sea could remain largely flat, with some possible upside, according to the note.

The diversions have made Urals prices stronger at the end of December, compared with a month before, according to FGE. The grade turned about 60 cents a barrel costlier relative to London’s Brent crude, the benchmark for sales of the variety, the industry consultant said.

China imports the bulk of Russian oil via inland pipes and seaborne shipments from the eastern ports of Kozmino, De-Kastri and Prigorodnoye. A second conduit between the two countries began operations on New Year’s Day, doubling China’s ESPO crude import capacity to 30 million tons annually, or about 600,000 barrels a day. The two lines run parallel to each other between Mohe at the border and Daqing in northeast Heilongjiang Province.

The Asian nation has also sought to expand its energy relationship with Russia. CEFC China Energy Co., a firm that’s grown from a small local trader to a global deal-making juggernaut, in November sold its first cargo of Russian crude after buying a $9 billion stake in Rosneft Oil Co. last year. The Russian energy giant will supply the Shanghai-based company with as much as 60.8 million tons, including the Urals, ESPO and Sokol grades, over five years.

Russia supplied 5.12 million tons of crude to China in November, official customs data show, the equivalent of about 1.3 million barrels per day. It also aims to start natural gas sales via the Power of Siberia pipeline by December 2019.