1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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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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Democratic Party group's position against IMF program www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Democratic Party group in Parliament considers that International Monetary Fund has underestimated the situation of Mongolia and it has a position against receiving IMF’s Extended Fund Facility program. On February 22, DP group held extended meeting and discussed some pressing issues relating to IMF’s program and Development bank.
 
“ - Raising rates of individual income tax and contributions of social insurance is not acceptable amid economic difficulties. They paid much more attention in increasing the budget revenue rather than saving the budget expenditure. We observe that IMF has underestimated the situation of Mongolia. Total external financing package within the program will be around USD 5.5 billion, while, the DP - we took a total loan of USD 1.5 billion when in power. They should explain for what the remaining USD4 billion would be spent. Stage budget was sustained within MNT6-7.6 trillion, now it reached to MNT9 trillion, when MPP is in power. It shows there is possibilities to cut expenses.” said DP group head D.Erdenebat. The group considers Mongolia can overcome economic difficulties through proper management of state budget, when price of mining products is growing back in the world market.
 
 
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HP Inc reports 3.6 percent rise in quarterly revenue www.reuters.com

 
HP Inc (HPQ.N), which houses the hardware business of former Hewlett-Packard Co, reported a 3.6 percent rise in quarterly revenue, largely helped by a stabilizing PC market.
 
However, the company's net earnings from continuing operations fell to $611 million in the first quarter ended Jan. 31, from $650 million a year earlier.
 
The company's earnings per share from continuing operations remained flat at 36 cents.
 
Revenue rose to $12.68 billion from $12.25 billion.
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Tesla says Model 3 on track for volume production by September www.reuters.com

 
Tesla Inc (TSLA.O) said on Wednesday its mass-market Model 3 sedan was on track for volume production by September, encouraging investors who see the electric vehicle as the avenue to profitability for the young company.
 
But the carmaker's operations continued to burn through cash, and Chief Executive Elon Musk told analysts on a conference call that he may ask Wall Street for more.
 
"According to our financial plan, no capital needs to be raised for the Model 3 but we get very close to the edge," Musk told investors on a conference call. Tesla plans an additional $2 billion to $2.5 billion in capital expenses before the Model 3 launch and has $3.4 billion cash on hand.
 
"We're considering a number of options but I think it probably makes sense to raise capital to reduce risk," Musk said.
 
Musk said Chief Financial Officer Jason Wheeler, in his role for just over a year, would leave in April to work in public policy. He will be replaced by former Tesla CFO Deepak Ahuja, who was popular with investors.
 
Tesla, whose shares rose as much as 3 percent after the bell before settling up around 1.6 percent to $277.90, beat analysts' expectations for revenue. Its adjusted loss missed the consensus target calculated by Thomson Reuters I/B/E/S, although there was an unusually large range of estimates due to confusion over accounting for the acquisition of solar installer SolarCity.
 
Ivan Feinseth, director of research at Tigress Financial Partners, said Tesla "delivered the results the market has been expecting" that drove the stock from a year low of $167.84 last February to a year high of $287.39 last week.
 
By late spring or early summer, Feinseth estimated, Tesla will likely raise more money, noting that today's highs could make it sooner rather than later.
 
"You have to feed the ducks while they're quacking. If they came to the market now they would be well received," he said.
 
Up to Wednesday's close, Tesla's stock had risen 53.9 percent in the last 12 months.
 
Many investors and suppliers have predicted Model 3 volume production would be delayed until 2018, but Tesla said it would produce over 5,000 Model 3s per week "at some point in the fourth quarter", and 10,000 vehicles per week "at some point in 2018".
 
Musk reiterated that Tesla still planned to deliver 500,000 cars in 2018 and 1 million vehicles by 2020.
 
Tesla did not give its usual full-year delivery estimate, but said it expected to deliver 47,000 to 50,000 Model S and Model X vehicles combined in the first half of 2017.
 
The company did not give a Model 3 target for this year and declined to update a previous disclosure made last April that 373,000 advance reservations had been taken for the car.
 
"We're still in great shape," said Wheeler, when asked about early demand for the car.
 
The public might not see the final version of the Model 3 until as late as July, when limited production begins, Musk said.
 
Capital expenditures doubled in the fourth quarter to $521.6 million, as Tesla invests in its Fremont, California factory and its Gigafactory battery plant in Nevada.
 
Cash rose by $309 million to $3.39 billion, which includes funds raised from a share sale last year.
 
SolarCity installed more than 20 percent less solar in the quarter, as it focuses on profitability and cash over growth. Solar generation deployed fell to 201 MW in the fourth quarter from 253 MW a year earlier.
 
Tesla's net loss attributable to common shareholders narrowed to $121.3 million, or 78 cents per share, for the fourth quarter ended Dec. 31 from $320.4 million, or $2.44 per share, a year earlier.
 
The adjusted loss of 69 cents per share compared with the analyst consensus of a 43-cent loss, according to Thomson Reuters I/B/E/S.
 
Revenue rose 88 percent to $2.28 billion, topping Wall Street's target of $2.18 billion.
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Toshiba to sell majority stake in chip business www3.nhk.or.jp

 
Struggling Japanese electronics giant Toshiba is likely to sell a majority stake in a new semiconductor firm.
 
Toshiba plans to spin off its mainstay chip unit to help cover the huge losses from its nuclear power business in the United States.
 
Sources familiar with the matter say Toshiba will hold a board meeting on Friday to agree on selling a majority stake.
 
The executives will also set the date of an extraordinary shareholders' meeting to seek their approval for spinning off its semiconductor unit.
 
In January, Toshiba decided to sell less than 20 percent of the stake in the new company. Executives later began considering the sale of a majority stake, but some in the company reportedly were opposed to the idea.
 
Toshiba will launch negotiations with bidders, with a goal of picking one by June.
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"The 6th Mongolia London Business Forum" UK (Registration will close next week) www.mongolianbusinessdatabase.com

Mongolian Business Database (MBD) is registering the Mongolian business participants to Mongolian-British Chamber of Commerce and Industry's "The 6th Mongolia London Business Forum" in April 05.2017 and business program which includes the opening of London Stock Exchange by Mr.Ts. Munkh Orgil, Foreign Minister of Mongolia, Sixth Mongolia London Business Forum at Bloomberg , the annual UK Parliamentary Tea with the All Party Mongolian Parliamentary Group and "Mongolia Opportunities" forum in April 06 at EBRD Headquarters in London.

Please visit to following link for information in details and contact at contact@mongolianbusinessdatabase.com e mail, 77109911, 99066062 for the registration and inquiry.
The registration will close next week in March 03 Friday. 2017

http://www.mongolianbusinessdatabase.com/base/eventsdetails?id=19

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Toyota's new technology a blow for platinum, palladium price www.mining.com

Toyota sold more than 10 million vehicles last year placing it in a virtual tie with Volkswagen as the world's number one automaker.

Stricter pollution regulations around the world and intense competition mean that top priority for traditional car companies is to cut costs and reduce emissions.

A new technology unveiled by Toyota on Wednesday is win for the Japanese company on both counts. Toyota announced the availability of a new, smaller catalyst that uses 20% less precious metal in approximately 20% less volume, while maintaining the same exhaust gas purification performance.

Toyota's "world's first integrally-molded Flow Adjustable Design Cell (FLAD)" is not the first time researchers have found innovative ways to reduce pricey platinum group metals in exhaust systems. But those technologies seldom make it all the way to the assembly line.

Roughly 75% of palladium demand is from the autocatalyst sector while application of platinum is more evenly spread
What sets Toyota's FLAD apart is that the company says it's ready to start mass producing the catalyst. The first vehicle to sport the the new catalytic converter, Toyota's luxury flagship Lexus LC 500h, will get it later this year. Volume models further down the ranks will gradually follow says the company.

Roughly 75% of palladium demand is from the autocatalyst sector while application of platinum is more evenly spread with jewellery and other industrial uses making up more than half the total. 85% of rhodium is used in the auto sector, but it's a tiny market – about 30 tonnes produced in good years.

Clearly it will take a long time for FLAD to work its way through to PGM markets. If at all; events in South African and Russia which together is responsible for 80% of the world's PGM output generally have the biggest impact (not to mention the vexing issue of the real amount of above ground stocks).

Nevertheless, a 20% cut is substantial, and the automakers have a long history of copying each others' technology.

On Wednesday, the palladium price was trading down with Nymex contracts exchanging hands for $767 an ounce, down 1.5% on the day. Last week palladium hit a 21-month high just shy of $800 and the precious metal is trading 14.5% for the better so far in 2017.

There’s a simple reason – today's fuel cell cars need a full ounce of platinum versus a 2 – 4 grams PGM loading for your average gasoline or diesel vehicle
Platinum has gained nearly 12% year-to-date, exchanging hands for $1,002 an ounce on Wednesday after hitting its highest level since August earlier this month.

Rhodium has traded as high as $10,000 an ounce a decade ago, but could be picked up mid-2016 for less than $600 an ounce. It has recovered since then, quoted at $825 recently.

Toyota taketh away, but giveth too
Toyota launched its first mass-produced fuel cell car – the Mirai or "future" in Japanese – for the European market in Volkswagen's back yard in October 2015.

Toyota has the backing of Tokyo for its push into hydrogen. In Japan the government will give you $25,000 – nearly half the total cost – if you buy a fuel cell vehicle. The country also has a program to install hydrogen fuel cells into 10% or 5.3m Japanese households to replace grid electricity by 2030.

The hydrogen society is probably further into the future than its promoters want you to believe but it’s impact on platinum could be enormous.

There’s a simple reason – today's fuel cell cars need a full ounce of platinum versus a 2 – 4 grams PGM loading for your average gasoline or diesel vehicle.

Given fuel cell cars' still hefty price tag, Toyota is spending billions on research to reduce that requirement. But even if they manage to cut it in half we are looking at 12-15 grams per vehicle.

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Oil prices will surge to $70 per barrel by year-end - Citi www.rt.com

 
US investment bank Citi has posted a bullish prediction about oil prices. As supply and demand levels continue to rebalance, crude is likely to reach $70 per barrel by the end of 2017, the bank said in a note.
 
However, the increase will come gradually, and a surge is to be expected a few months later, said Citi.
 
"Oil prices are not likely to stray far from their current $53-58 per barrel range in the near term as record investor net length and bearish inventory data will likely cap prices until more tangible evidence of a tighter market emerges," Citi’s analysts wrote.
 
On Wednesday, crude prices were slightly down after the rally on Tuesday with Brent trading at $56.50 per barrel and WTI trading at $54.26.
 
Citi expects to see a positive result from an OPEC production cut, which reported 93 percent compliance in January. The bank added that heavy refinery maintenance in Asia planned for the spring is also a decisive factor for oil prices.
 
Another US bank - Goldman Sachs - expects oil inventories to keep falling globally. While stocks are likely to rise in the US, production cuts and strong growth in demand will be more significant, the bank said.
 
"We do not view the recent US builds as derailing our forecast for a gradual draw in inventories, with in fact the rest of the world already showing signs of tightness. Given our unchanged 1.5 million barrels per day growth forecast for 2017, this higher base demand level should fully offset higher US output,” Goldman said in a note.
 
"While the production cuts have so far reached a historically high level of compliance at 90 percent [93 percent, according to OPEC], the rebound in US drilling activity has exceeded even our above consensus expectations," the bank added.
 
However, the bank warned the data indicates a further improvement in shale productivity and investment in the industry rather than a significant price rise.
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Mongolia-Russia trade increased by 58.8 percent www.montsame.mn

Ulaanbaatar /MONTSAME/ In January 2017, Mongolia traded with 99 countries and total trade turnover reached USD 705.7 million, of which USD 428.5 million were made up by exports and USD 277.2 million by imports.

The total foreign trade turnover increased by USD 177.4 million (33.6%). Out of that, exports increased by USD 99.4 (30.2%) and imports increased by USD 78.0 million (39.2%) compared to the same period of previous year.

In the first month of 2017, foreign trade surplus reached USD 151.4 million dollars which increased by USD 21.4 million dollars from USD 130.0 million dollars in the same period of 2016.

Mongolia-China trade accounted for 68 percent of the total trade turnover, which increased by 36.1 percent compared to the last year. Meanwhile, 11.9 percent of the total trade turnover was made up by Mongolian and Russian trade, showing 58.8 percent increase.

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JICA to finance construction of secondary school building www.montsame.mn

Ulaanbaatar /MONTSAME/ A project to construct secondary school building will be carried-out by non-refundable assistance from the JICA (Japan International Cooperation Agency).

On February 21, protocols in the scope of the project were signed by head of the second group of the project Chee Esaki, research team leader of the project Tomohiro Fukuo, specialist of education planning of JICA Tomohiro Osava and Director of the Department of Finance and Economy of the Ministry of Education, Culture and Science T.Batmagnai.

After signing the protocols, the sides reciprocally agreed on their rights and responsibilities within the construction project. Depending on the financing, about 3-4 secondary school buildings will be commissioned in the academic year of 2020-2021

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Russian Oil Giant Rosneft Expands in Middle East www.themoscowtimes.com

Russia’s state-owned oil company Rosneft has begun to expand its operations in the Middle East with deals in Libya and Iraq, Bloomberg News reported Tuesday.

Rosneft, which is run by Putin ally Igor Sechin, struck a deal to purchase an undisclosed amount of crude oil from the Libyan National Oil Corp on Monday. The deal will also allow the Russian company to invest in exploration and production in the volatile North African country.

The chairman of National Oil Corp welcomed the deal, saying it would help to stabilize the warring country’s economy.

“We need the assistance and investment of major international oil companies to reach our production goals and stabilize our economy,” NOC Chairman Mustafa Sanalla said in a statement.

Rosneft announced on the same day it had struck a deal with authorities of the autonomous Kurdish region in northern Iraq to purchase oil until 2019. The deal with Kurdish authorities will also allow the Russian company to invest in exploration and production.

Chris Weafer, a Marco Advisory analyst, told Bloomberg that the deals combined “potentially good economics for Rosneft and good politics for the Kremlin.”

“Expect more deals from Rosneft in the Middle East and North Africa and across the developing world,” he said.

The Kurdish Minister of Natural Resources, Ashti Hawrami, said the agreement had ushered in a new era of cooperation between Russian and the Kurdish government.

“This deal represents a new beginning in our relationship with Rosneft and opens up the possibility of a broader relationship in all fields of energy cooperation,” Hawrami said.

Speaking on the condition of anonymity, one Kurdish official with knowledge of the deal told the Iraq Oil Report that the agreement was a reflection of growing confidence in northern Iraq’s oil market.

"It is the first time the KRG has supplied crude directly to a major global oil refiner and reflects the growing confidence of the international oil market in KRG crude," a Kurdish official said.

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