1 DRAFT RESOLUTION ON STRATEGICALLY IMPORTANT PROJECTS SUBMITTED TO THE PARLIAMENT WWW.MONTSAME.MN PUBLISHED:2024/12/29      2 BATTLE FOR RESOURCES: FRANCE TARGETS MONGOLIA’S URANIUM WWW.NEWS.AZ PUBLISHED:2024/12/29      3 FINANCING AGREEMENT FOR “WHITE GOLD” NATIONAL PROGRAM SIGNED WWW.MONTSAME.MN PUBLISHED:2024/12/29      4 ‘INCREASED MONEY DISTRIBUTION DRIVES SURGE IN FOREIGN EXCHANGE OUTFLOW’ WWW.UBPOST.MN PUBLISHED:2024/12/29      5 EACH TOURIST WHO COMES TO MONGOLIA IN WINTER SPENDS 2-8 MILLION WWW.NEWS.MN PUBLISHED:2024/12/29      6 MONGOLIA TO ENHANCE SUPPORT FOR WOOL, CASHMERE, LEATHER PROCESSING INDUSTRIES WWW.XINHUANET.COM PUBLISHED:2024/12/29      7 MUSEUM VISITORS IN MONGOLIA SURGED BY 40 PERCENT, REACHING 1.1 MILLION WWW.MONTSAME.MN PUBLISHED:2024/12/29      8 COAL EXPORT OF MONGOLIA EXPECTED TO SURPASS 80 MILLION TONS WWW.MONTSAME.MN PUBLISHED:2024/12/26      9 MNT 4 TRILLION GENERATED IN THE FUTURE HERITAGE FUND OF MONGOLIA'S SOVEREIGN WEALTH FUND WWW.MONTSAME.MN PUBLISHED:2024/12/26      10 JOINT PROJECT TO IMPROVE ROAD MAINTENANCE IN MONGOLIA ONGOING WWW.MONTSAME.MN PUBLISHED:2024/12/26      ЭРҮҮЛ МЭНДИЙН ДААТГАЛЫН САНГИЙН ОРЛОГО 25.5 ХУВИАР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/29     БӨӨРӨЛЖҮҮТ ЦАХИЛГААН СТАНЦ ЭРЧИМ ХҮЧНИЙ НЭГДСЭН СИСТЕМД АМЖИЛТТАЙ ХОЛБОГДЛОО WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/29     ТЭЭВРИЙН ХЭРЭГСЛИЙН УЛСЫН ДУГААРЫГ ЦАХИМААР АВАХ СИСТЕМ ЭНЭ САРЫН 30-НД НЭЭГДЭНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/29     ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХ ТӨРИЙН ДЭЭД ЦОЛ, ОДОН, МЕДАЛЬ ГАРДУУЛЛАА WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/29     Б.МАНДАХБИЛЭГ: ГЕРМАН ДАХЬ МОНГОЛ СУДЛАЛЫН ТӨВҮҮДЭЭ БИД ИХ ТӨСӨВ ГАРГАЖ ДЭМЖИХ ЁСТОЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/29     БНСУ ХОЁР ДОЛОО ХОНОГИЙН ХУГАЦААНД ХОЁР УДИРДАГЧАА ОГЦРУУЛЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/29     “ЦАГААН АЛТ” ҮНДЭСНИЙ ХӨТӨЛБӨРИЙН ЗЭЭЛИЙН САНХҮҮЖИЛТИЙН ГЭРЭЭНД ГАРЫН ҮСЭГ ЗУРЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/26     "ЧИНГИС ХААН" БАНКИНД БАЙРШУУЛСАН 100 ТЭРБУМЫГ АВАХ БОЛОМЖТОЙ" WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/26     УЛСЫН НЭГДСЭН ТӨСВИЙН ОРЛОГО, ТУСЛАМЖИЙН ХЭМЖЭЭ 6.2 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/26     МЕТРО БАРИХААР ГАЗРЫН ГАДАРГААС ДООШ 30 МЕТРИЙН ГҮНД 42 ЦЭГИЙГ ӨРӨМДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/26    

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Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Heineken may lose its red star logo over Hungary’s fight with ‘symbols of tyranny’ www.rt.com

 
Brewer Heineken’s trademark red star may become a victim of the Hungarian government’s attempts to ban the use of “totalitarian symbols” related to years of Nazi occupation and the communist era.
 
On Monday, the country’s parliament began discussing a bill which, from next year, would make it a criminal offense to use symbols such as the swastika, the arrow cross, the hammer and sickle and the red star for commercial use.
 
Businesses using the symbols could be fined up to $7 million with employees receiving a jail term.
 
The government of Prime Minister Viktor Orban said it has a "moral obligation" to ban the commercial use of “symbols of tyranny.”
 
Experts say if the bill is passed, beer giant Heineken may be forced to change its logo, which features a five-pointed red star. The company has had a star logo on its beer for most of the years since it was first brewed in the second half of the 19th century, changing the color to red in the 1930s.
 
The star is thought to represent a brewers’ symbol for the various stages of the brewing process. The red star was also a major symbol of Soviet communism and used to appear on the crest of communist-era Hungary.
 
Red stars are also featured in the logos of US department store chain Macy’s and Italy’s San Pellegrino mineral water.
 
According to Reuters, Hungarian government spokesman Zoltan Kovacs said that based on the law, Heineken beer with its current logo could be banned.
 
Deputy Prime Minister Zsolt Semjen was quoted as saying that the red star in Heineken's logo was "obvious political content."
 
Lately, some post-Soviet states and members of the former Eastern Bloc have started a process of decommunization, which in some cases involve a ban on communist symbols.
 
Unlike Nazi symbols, communist symbols are not banned in the Czech Republic or in Romania. The Constitutional Tribunal in Poland ruled the symbols could be used.
 
Croatian Prime Minister Andrej Plenkovic in December announced a possible ban on all totalitarian symbols, including the red star.
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27th Annual NAMBC AGM & Investors Forum, April 27-28 Washington DC www.mongolianbusinessdatabase.com

Mongolian Business Database MBD (www.mongolianbusinessdatabase.com) is starting to register the business participants to the 27th NAMBC Annual General Meeting & Investors Forum which will be held in April 27-28, 2017, at the Residence Inn Arlington Pentagon City, adjacent to Reagan National Airport in Washington DC. The second day, April 28, will feature door-knock meetings with US government officials and on Capitol Hill. The program will commemorate the 30th anniversary of US-Mongolia diplomatic relations by presenting program segments on future investment opportunities in Mongolia, prospects for US-Mongolia and US-Asia engagement under the Trump Administration, and other matters. Speakers will include Mongolian and US officials and business leaders.

Please visit to following link for information in details and contact at contact@mongolianbusinessdatabase.com e mail, 77109911, 98994787 for the registration and inquiry.

http://www.mongolianbusinessdatabase.com/base/eventsdetails…

Registration will close in March 29, 2017 (Wednesday).

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PM: “Government of Mongolia to be debt-free to Chalco within this month” www.montsame.mn

Ulaanbaatar /MONTSAME/ Prime Minister of Mongolia J.Erdenebat met with the leaders of the administrative organizations under the government to give some directions. He also reflected on actions taken by his cabinet for the last seven months since formation.

J.Erdenebat was appointed as the Prime Minister eight months ago. In a month in the Premier’s office, J.Erdenebat formed his cabinet, hailed as “professional”.

“To look back on the works done by our cabinet, I would call it a “cleaning” cabinet”, said the Premier and provided examples to back his argument.

At first, he said, our cabinet has sophisticated the budgetary system and commenced the action for applying discipline in public expenditures. “We were greeted by an economy that had one of the world’s most critical government budget balance in terms of deficit. The budget deficit was a consequence of careless spending of taxpayers’ money”, he added.

Secondly, the new cabinet has successfully captured opportunities and put an end to the impeachment, which was about whether the Mongolian government would announce a default or not due to the outstanding debt from the government bonds. This government has settled the issue of USD 580 million debt, and shed a light on investors’ confidence.

He went on to say “This is not any kind of political advertisement. The fact that foreign investors offered USD 3.3 billion bid for the recently-issued government bond of USD 124 million can back up the accomplishments of this government”.

Last but not least, Mongolia will be free of debt owing to Chalco Company of China within this month. Thanks to this, the East Tsankhi pit of the coal giant Tavantolgoi mine is finally getting into Mongolian people’s full ownership after seven years. In other words, profit from coal mining in East Tsankhi will go directly to the Mongolian government budget.

“We decided not to just watch what happens with the coal price in the world. This government launched an open auction for Tavantolgoi’s coal and sold at the highest ever price – 72.5 USD per ton” he said.

Although, some of the above mentioned works have been already initiated under the previous governance, our cabinet pushed forward the stagnated processes, added the Prime Minister. “Mongolia’s economy has so much more work. The difficult part is not over yet. Mongolia has just stepped up to the threshold of many decisive steps”.

 
 
 
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Government allocates MNT 9 billion to geological survey www.gogo.mn

This year the Government of Mongolia allocated MNT 9.3 billion to geological survey. In regards, 38 project to be implemented including city geo-ecological survey. 
In recent years, air and soil pollution of the city has increased dramatically. Thus the survey aims to measure pollution and concentration of heavy metals in the capital. City geo-ecological survey was conducted in 1997 and 2009. Also the survey is able to determine the cause of increased earthquake activity. The survey will be conducted for three years. 
Meanwhile exploration licenses are granted based on the geological survey results.

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Investment forum seeks possibilities to raise gold production www.montsame.mn

Ulaanbaatar /MONTSAME/ "Mongolia Gold 2017" investment forum was held on March 17 at the Chinggis Hotel, gathering some 300 domestic and international delegates from government, private sector and investors.

“Mongolian Mining Exchange” company organized the event with aims to improve legal environment, stabilize it, solve financing, introduce gold projects and advanced technologies, expand business ties and cooperation, share international experiences and bring exploration works into a new level.

Gold production of Mongolia makes up 2.6 per cent of GDP or 9.1 per cent of export revenues. Gold export is planned to be increased consistently by 2-3 tons each year and is expected to reach USD 1.2 billion in 2020 and USD 1.6 billion in 2025, increasing export revenues from gold by 26,7 per cent and 68.4 per cent respectively, compared with gold exports in 2015.

As of last November, a total of 17.6 tons of gold in value of USD680 million was sold to the Bank of Mongolia. The number of companies, which are running business in the gold industry, and gold production has been increasing year by year. Now, gold miners occupy 45 per cent of mining companies.

The Ministry of Mining and Heavy Industry is working to make a list of gold mining license holders, which needs additional financing. To boost gold industry, the Government approved “Gold-2” program, the main goal of which is to give financial support to gold miners in order to increase their operational capacity and to mine 25 tons of gold by 2020, increasing gold reserves by 100-150 tones. Funding, needed for the program, will be covered jointly by the Government and the Bank of Mongolia, according to Minister of Mining and Heavy Industry Ts.Dashdorj. “Gold” and “Gold 2000” programs were implemented in 1992-2000.

There are 1642 registered gold licenses, out of which 542 for mining and 1100 for exploration, covering 46.3 per cent of all mining licenses, informed Deputy Chair of Mineral Resources and Petroleum Authority M.Enkhjargal.

“-“Gold-2” program targets to ensure sustainable development of gold production in short and middle terms, increase geological research and exploration works, raise gold production consistently through utilizing placer and other metal deposits containing gold and to introduce best technology, equipment and management in gold mining, processing and rehabilitation, which are eco-friendly, has low negative effect to human health and supportive to sustainable development” noted the Deputy Chair.

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New airport expected to commence operations next year www.montsame.mn

Ulaanbaatar /MONTSAME/ The new airport in Khushig Valley, Tuv aimag is expected to begin full operations by May 2018, officials report.

In the frameworks of New Ulaanbaatar International Airport (NUBIA) project, more than 30 facilities will be put into operation.

Earlier this year, the completed constructions were handed over to the Ministry of Road and Transport by the main contractor, Mitsubishi-Chiyodain Joint Venture of Japan in compliance with the concerning contract. And technical and State Commission inspections were launched to detect some violations. Corrections of some violations are being delayed due to weather conditions, the officials noted.

Preliminary estimate by the Ministry of Road and Transport Development indicates that the Khushig Valley airport is to begin fully operating in 2018.

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India's Adani to finalize Australia coal investment plan by June www.asia.nikkei.com

 
MUMBAI (Reuters) -- India's Adani Enterprises said it would finalize an investment decision by June for its Carmichael coal project in the northern Australian state of Queensland, which has been delayed due to protests from environmental groups.
 
For more than five years, Adani has battled opposition from green groups who fear the project will produce so much coal for export to India that it will require a mega-port expansion into the Great Barrier Reef World Heritage Area.
 
While Adani, a business group with interests in power and ports, has said the project would not threaten the reef and has secured most major state and federal government approvals, it still faces several court challenges.
 
Raising funds has also been tough given the sensitivities of lending to a controversial project.
 
However, the group's chairman, Gautam Adani, expressed optimism the project would proceed and said the board would take a final decision on investments in May or June, including structure and planned funding.
 
He was speaking during an interaction with a group of reporters in Mumbai and was accompanied by Queensland premier Anastasia Palaszczuk who was in the country to visit Adani's port and solar facilities
 
"Definitely," Adani said, when asked if he was confident the project would go ahead. "Our internal planning is 2020 ...(for) first coal to come out," Adani added, noting construction could begin within three months of the board's decision.
 
Palaszczuk said the Carmichael project had the full support of her government and that she did not see any obstacles in Adani securing final approval from Australia.
 
FUNDING
 
Analysts have raised doubts about whether Adani can fund what would be Australia's biggest coal mine given the opposition from green groups and a slump in coal prices. Some banks, including Deutsche Bank and Commonwealth Bank of Australia, have said they will not provide funding.
The company has shrunk the project and is now targeting an annual output of 25 million tonnes in the first phase, which could save costs, Adani said. Production will eventually be expanded to the planned 40 million tonnes, he added.
 
Of the $4 billion required for the first phase, Adani will have to raise about $2.5 billion in debt, he said. The company says it has already invested $3.3 billion in the project.
 
Adani is hoping to get $800 million to $900 million from Northern Australian Infrastructure Facility and is counting on funding from export credit agencies in China or South Korea. It plans go to commercial banks for any shortfall.
 
"Banks have been misled by some of the environmental groups and that was a main issue," Adani said.
 
The project still faces strong opposition, with a group of high-profile Australians recently saying they will "fight tooth and nail" against Adani's plans.
 
However, Palaszczuk said the Adani project was crucial for jobs in Queensland.
 
"I've got such a situation in regional Queensland where people are hurting, families are hurting, because they don't have employment with the downturn in the resources sector," she said. "So, I need this project for Queensland."
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Saudi Arabia looks beyond oil for future opportunities www.chinadaily.com.cn

 
Agreements signed for projects between Gulf country and China
 
China and Saudi Arabia will continue to diversify economic cooperation and develop stronger trade ties in 2017, as their products are complementary and they have reached a consensus on both the "Saudi Vision 2030" strategy and the Belt and Road Initiative, economists said on Sunday.
 
Eager to diversify its heavily oil-dependent economy, Saudi Arabia announced the "Saudi Vision 2030" growth strategy in 2016, which includes privatizing some State-owned companies and finding more new market growth points from non-oil related sectors.
 
Long Guoqiang, vice-president of the Development Research Center of the State Council, said on the sideline of the China Development Forum that the Belt and Road Initiative is expected to help Saudi Arabia realize its growth plan, as it can efficiently boost regional infrastructure connectivity, people-to-people exchanges, investment and trade activities on an effective multilateral cooperative platform.
 
The infrastructure, trade and services network proposed by the Chinese government in 2013 envisions a Silk Road Economic Belt and a 21st Century Maritime Silk Road, covering about 4.4 billion people in more than 60 countries and regions in Europe, Asia and Africa.
 
Sang Baichuan, director of the Institute of International Business at the University of International Business and Economics in Beijing, said that even though oil trade lies at the heart of bilateral business ties, Saudi Arabia's surging demand for infrastructure improvements－such as next-generation oil refineries, roads, airports and oil tanker and container ports－will provide opportunities for Chinese project contractors and manufacturers.
 
Their comments came after China and Saudi Arabia signed 14 agreements and memorandums of understanding to deepen cooperation in such areas as energy, investment, finance, culture and aerospace last week.
 
Among these big-ticket cooperative documents, one is an MOU on production capacity and investment cooperation that has 35 big projects involving $65 billion.
 
China exports mainly construction machinery, manufacturing equipment, steel, electronics, textiles, garments and household appliances to Saudi Arabia. Chinese-made passenger vehicles and trucks have also become popular in the region. In addition to crude oil, petrochemicals and fertilizer, Saudi Arabia's exports to China include marble, olive oil and sesame seed products.
 
China became Saudi Arabia's largest trading partner by goods volume in 2015, and Saudi Arabia has been China's biggest crude oil supplier and largest trading partner in western Asia for years.
 
Bilateral trade between China and Saudi Arabia amounted to $42.4 billion in 2016, data from the Ministry of Commerce show. More than 100 Chinese companies from both State-owned enterprises and private sectors are currently involved in energy, rail, port and telecommunication projects in Saudi Arabia.
 
"Saudi Arabia is an important transportation and financial hub connecting Asia, Africa and Europe, which makes the country an ideal partner for the Belt and Road Initiative," said Gu Xuebin, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation.
 
To further enhance trade ties with the Middle East region, Vice-Minister of Commerce Wang Shouwen said China will also accelerate negotiations for a free trade agreement with the Gulf Cooperation Council for the Arab States of the Gulf this year, which certainly will offer more business opportunities between China and Saudi Arabia.
 
The GCC is a political and economic union of six Arab states that border the Persian Gulf－Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates－some of which are considered among the world's top fossil fuel-exporting nations.
 
The two sides are now expected to exchange views on key FTA issues such as trade conditions, rules of origin, technical barriers to trade and economic and technological cooperation, said Wang.
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IBM launches enterprise-ready blockchain service www.reuters.com

 
International Business Machines Corp has launched a service that will allow businesses to build applications on its cloud using blockchain code from the Hyperledger Project, the cross-industry group led by the Linux Foundation.
 
The U.S. technology company said on Monday its new product called IBM Blockchain was the first service for developers to build enterprise-grade technology using Hyperledger Fabric, the first code set to be released by the open source group.
 
The Fabric blockchain can process more than 1,000 transactions per second and has the necessary features to be used by large enterprises to build their applications, IBM said.
 
It added it was working with technology company SecureKey Technologies and a group of Canadian banks to build a digital identity network using its new blockchain services.
 
The network, set for launch later this year, is aimed at making it easier for consumers to prove their identities when accessing services such as new bank accounts, driver's licenses or utilities. Banks involved include Bank of Montreal, Royal Bank of Canada, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank.
 
Blockchain, which emerged as the system running cryptocurrency bitcoin, is a digital shared record of transactions that is maintained by a network of computers on the internet, without the need of a centralized authority.
 
Big businesses, including many of the world's largest banks, have been increasing their investment in the technology in hopes it can help them reduce the complexity and costs of some of their most burdensome processes, such as the settlement of securities or international payments.
 
Technology companies and professional services firms have also been ramping up their investment in blockchain, as they race to capture the nascent market.
 
IBM has been one of the most aggressive large technology companies on blockchain and has several large clients developing applications with the technology, including Northern Trust Corp, Wal-Mart Stores Inc and the Depository Trust & Clearing Corporation.
 
IBM said it had also tested a blockchain-based asset management platform for carbon assets with Chinese company Energy-Blockchain Labs. The companies aim to release the platform, built using the new IBM Blockchain, later this year.
 
 
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Japan, Germany ink pact on green energy project www.nhk.or.jp

Japan and Germany have signed an agreement to start a joint project to stabilize renewable energy supplies.

Japan's New Energy and Industrial Technology Development Organization, or NEDO, and the Niedersachsen state government in northern Germany inked the deal in the state capital, Hanover, on Sunday.

3 Japanese firms, including a battery maker, and a German power company plan to take part in the 3-year project, which is set to begin next month.

They say they want to stabilize green energy supplies by saving electricity at a large storage facility when an amount well above the level of demand goes into power grids.

They say stored electricity will be used during power shortages.

Germany is sharply increasing its output of wind, solar and other forms of green energy, as the government tries to phase out nuclear power by 2022. But fluctuating output that depends on weather conditions poses a major challenge.

NEDO Chairman Kazuo Furukawa says his organization wants to introduce what it will learn in Germany to Japan and help Japanese firms start businesses in other countries.

 
 
 
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