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    

Events

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

NEWS

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Migration to Ulaanbaatar city stops until 2018 www.gogo.mn

On Jan 9, City Mayor and City Governor S.Batbold has issued an order to stop migration to the Ulaanbaatar city from rurals until Jan 1, 2018, aiming to reduce air pollution. 
According to the order, people in need of long-term treatment in Ulaanbaatar city and people who purchased housing in Ulaanbaatar city are allowed migrate to the city. 
In other cases, migration of people from rural to Ulaanbaatar city is banned. 
Inspectors of City professional inspection agency and Air quality agency will monitor the implementation. 
Every citizen of Mongolia has the right to migrate. However, the country is facing problems that might affect national security. Thus, City Mayor has issued this order based on long-term study and professional recommendation. 
NO MORE GER-DISTRICT AREAS 
City Mayor has issued two more orders to tackle air pollution. 
For instance, the city will determine the residential areas. Setting up new ger-district areas at the outer parts of the chosen residential areas is prohibited. 
Moreover, city mayor divided air pollution of Ulaanbaatar city into four zones, considering the current air quality index. 
Further, city is planning to ban the most polluting vehicles.

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South Korean special prosecutors to question Samsung leader as a suspect www.reuters.com

A South Korean special prosecutor's office on Wednesday said it had summoned Samsung Group [SAGR.UL] leader Jay Y. Lee as a suspect in a widening influence-peddling scandal involving President Park Geun-hye.

Prosecutors have been checking if Samsung's support for a business and foundations backed by Park's friend, Choi Soon-sil, was connected to a 2015 decision by the national pension service to back a controversial merger of two group affiliates.

Samsung has acknowledged making contributions to two foundations as well as a consulting firm linked to Choi. The prosecution summoned two senior Samsung Group officials this week for questioning, though they were classified as witnesses.

Lee, the vice chairman of flagship affiliate Samsung Electronics Co Ltd, has managed South Korea's top conglomerate after his father and founding patriarch Lee Kun-hee was incapacitated after a May 2014 heart attack.

At a December parliament hearing, the executive denied that the firm paid bribes to pave the way for the 2015 merger.

Lee Kyu-chul, a spokesman for the special prosecution team, told a briefing Lee had been summoned for questioning at 9:30 a.m. (0030 GMT) on Thursday, over suspicions including bribery, but did not elaborate.

"All possibilities are open," the spokesman replied, when asked if the prosecution team would request an arrest warrant for the Samsung Group leader.

A Samsung Group spokeswoman declined to comment.

President Park could become South Korea's first democratically elected leader to leave office early after parliament voted in December to impeach her over the corruption scandal, a decision that must be approved or overturned by the Constitutional Court.

(Reporting by Se Young Lee and Ju-min Park; Editing by Clarence Fernandez)

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Tibet opens doors to more tourists www.chinadaily.com

 

Tibet is expected to receive more than 25 million tourists and generate tourism revenue of more than 37 billion yuan ($5.34 billion) in 2017, according to the fifth session of the 10th People's Congress of Tibet on Tuesday.

The autonomous region welcomed more than 23 million tourists and tourism revenue reached 33 billion yuan in 2016, annual increases of 14.7 and 17 percent respectively, according to the session.

"The region has fully promoted the standardization of tourism services, and the tourism industry has witnessed growth both in quality and effectiveness," said Losang Gyaltsan, chairman of the regional government, when delivering the annual government work report.

"More than 100,000 residents in the region's rural areas have benefited financially from tourism," Losang Gyaltsan said.

Losang Gyaltsan said the region will encourage big tourism enterprises to set up branch companies in Tibet and train more professional tourism workers in the near future.

The regional government has been making efforts to turn Tibet into a world tourism destination in recent years.

"Along with the progress of turning Tibet into a world tourism destination, the region has carried out a plan of developing regional tourism," said Xu Zhuwu, deputy Party chief of the regional government.

With unique natural landscapes and cultures, Tibet has big advantages and potential to develop tourism, Xu Zhuwu said.

In addition to improving the quality of tourism services, the region's many new plans for airlines, railways, roads and supplies have helped develop the tourism market.

Tibet has decided to build 2,000 toilets across the region in 2017, according to the government work report.

palden_nyima@chinadaily.com.cn

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Erdene new gold zone at Mongolia Bayan Khundii project larger than expected www.mining.com

Canada’s Erdene Resource (TSX:ERD), one of the very few miners to never have encountered issues in Mongolia, unveiled Tuesday results for nine diamond drill holes from its step-out program at Bayan Khundii gold project, which shows a discovery made in October is larger than originally thought.

The project, now Erdene’s flagship venture, has grown to prominence in the past 18 months. The company has held a variety of mineral interests in Mongolia, but leaned towards gold once Bayan Khundii came into the picture.

Before that, the Halifax, Nova Scotia-based miner had been advancing its Altan Nar project (meaning Golden Sun).

Today results show a new gold zone (Midfield) discovered in October under younger cover, includes some of the highest grades and the longest mineralized intervals intersected to date, the firm said.

Other highlights from the press release:

Gold mineralization at Midfield includes some of the highest grades and the longest mineralized intervals intersected to date including:
o 149 metres of 2.1 g/t gold from 23 metres depth, including 41 metres of 5.2 g/t gold and 15 metres of 6.5 g/t gold (BKD-90)
o 72 metres of 4.0 g/t gold from 108 metres depth (BKD-92)
o 16 metres of 3.9 g/t gold from 19 metres depth and 40 meters of 1.0 g/t gold from 106 metres depth (BKD-95)

Bayan Khundii project went from greenfield prospect to being Erdene’s flagship asset in roughly nine months.
All step-out confirmation holes intersected gold mineralization with visible gold observed in six of the eight holes, establishing lateral continuity of the new mineralized Midfield Zone in all directions.
Geophysical surveys indicate alteration zones that host gold mineralization at Midfield extend under cover along the 1.7 kilometre north-northeast trend.
2017 exploration drill program now being designed to test additional target areas.
Peter Akerley, Erdene’s President and chief executive said the company would launch this year a resource drilling program, complimented by an extensive exploration scheme designed to expand the known areas of gold mineralization at Bayan Khundii as well as our other targets in the district including Altan Nar.

Mongolia’s mineral wealth drew several firms in the past two decades as it opened up to investment. The main attraction has always been the country’s riches — vast deposits of copper, coal and iron ore— as well as its proximity to China, the world’s biggest buyer of the minerals.

The enthusiasm peaked in 2011 when the land-locked nation’s economy grew 17% or the fastest pace on the planet. It’s been downhill since.

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Coking coal price crashes through $200 www.mining.com

It's only been a week of trading, but the year to date fall in the price of coking coal has already reached 17%. The steelmaking raw material is also now $120 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.

On Tuesday the price dropped another 6.4% to $208.10 a tonne, the lowest since September 9 and one of the biggest declines (for the spot price) on record.

As it happens, coking coal futures trading on the Dalian Commodities Exchange in China went the opposite way with a jump of 7.8% on Tuesday on news that the country's top steel producing province Hebei is shutting down 32m tonnes of excess capacity this year, more than double the 2016 tally. Coking coal futures ended the day at 1,268 yuan or $182 a tonne.

The Australian benchmark metallurgical coal contract price is forecast to average $186 a tonne in 2017, a 63% increase from 2016
Still, metallurgical coal is up 150% from multi-year lows reached in February last year. Coking coal averaged $143 a tonne in 2016 (about the same as it did in 2013).

There was a more than $100 differential between the spot price average and the fourth quarter contract benchmark, but that situation has now completely reversed.

According to Australia's department of industry which yesterday released its quarterly report in early December, benchmark contract prices for the Q1 2017 were settled between Australian miners and Japanese steelmakers at $285 a tonne.

This marked the highest negotiated quarterly contract price in five years according to the report and compares to a benchmark contract price average of $114 a tonne in 2016. The authors of the report Q1 would be the high point for quarterly contracts and will decline with the spot price:

In a bid to raise domestic coal output and help ease upward pressure on prices, the Chinese Government started to ease restrictive coal production measures in September, and then took further measures in November. Since the November measures and the expectation of a return to normal production in Australia, prices have started to decline. This trend is expected to continue in 2017. The Australian benchmark metallurgical coal contract price is forecast to average US$186 a tonne in 2017, a 63 per cent increase from 2016.

In 2011 floods in key export region in Queensland saw the coking coal price briefly trade at an all-time high $335 a tonne.

 
 
 
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FIFA to add 16 teams for 2026 World Cup www.nhk.or.jp

Soccer's governing body, FIFA, says the 2026 World Cup will have 48 teams, 16 more than at present.

The FIFA Council unanimously approved the expansion in a meeting in Zurich on Tuesday.

FIFA President Gianni Infantino proposed the expansion last October.

Participants at Tuesday's meeting say that despite initial opposition from some FIFA Council officials, almost nobody raised objections as FIFA stressed the benefits of the expansion, including an increase in revenue.

The World Cup finals will be expanded for the first time in 28 years.

The number of teams increased from 24 to the current 32 in the 1998 World Cup in France. Japan made its first appearance in that year.

FIFA has yet to decide how many extra places will be allotted to each of the 6 continents.

At present, Asia has 4.5 slots for the World Cup finals. There is speculation that this may be increased to 7.

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Chinese official: Economy grew about 6.7% in 2016 www.nhk.or.jp

A top Chinese official says he thinks the government has met its growth target for 2016 as the economy is believed to have expanded by about 6.7 percent.

National Development and Reform Commission Chairman Xu Shaoshi said China's GDP grew 6.7 percent in the first, second and third quarters of last year. He said the annual growth rate is expected to be about the same.

Xu did not mention China's growth target for this year. But he said the country's economy has the potential to maintain a reasonable pace of expansion.

The Chinese government will release the official GDP figures for 2016 on January 20th.

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Ban Ki-moon's brother and nephew charged with bribery www.bbc.com

The brother and nephew of former United Nations Secretary General Ban Ki-moon have been charged with conspiracy to bribe a government official.
New York officials accuse Mr Ban's younger brother, Ban Ki-sang, and his nephew, Joo Hyun Bahn, of offering money to a Middle Eastern official.
They allege that bribes were given to entice the official to use government funding to buy their building project.
Ban Ki-moon served as UN secretary general from 2007 until 2016.
He was succeeded by former Portuguese Prime Minister Antonio Guterres on 1 January 2017.
Prosecutor say that in early 2013 the South Korean construction firm Keangnam, of which Mr Ban's brother Ban Ki-sang was an executive, was faced with growing debt and sought to sell a building complex in Vietnam known as Landmark 72.
In an 39-page indictment unsealed on Tuesday at a Manhattan courthouse, prosecutors alleged that he and his son Joo Hyan "Dennis" Bahn, a Manhattan estate agent, stood to make millions of dollars in commission on the sale, valued at up to $800m (£657m).
US officials say that the two men paid millions of dollars in bribes and tried to trade on the prominence of their South Korean family in order to persuade a Middle Eastern official from an unnamed country to arrange a purchase of the complex by that country's sovereign wealth fund.
Federal papers say the two even tried to secure a meeting to discuss the deal with the unnamed Middle Eastern country's head of state during his visit to New York during an annual UN general assembly meeting.
"This alleged bribery and fraud scheme offends all who believe in honest and transparent business," said New York Attorney General Preet Bharara, "and it stands as a reminder that those who bring international corruption to New York City, as alleged here, will face the scrutiny of American law enforcement."
M Ban's relatives are charged with corruption, money laundering and conspiracy.

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France's Le Pen wants repatriation of car plants a-la Trump www.rt.com

Far-right French presidential candidate Marine Le Pen has been inspired by US President-elect Donald Trump’s initiative to repatriate car production. She wants to see manufacturing back in France.

Speaking about Trump’s policy on France 2 television, Le Pen said it was "economic patriotism, (and) intelligent protectionism."

"I don't mind explaining to French companies that they can not escape tax that they should be paying in France, that they cannot go offshore without suffering the consequences... A choice has to be made, a choice of patriotism,” she said, as quoted by Reuters.

French car makers Renault and Peugeot have big plants in Spain, Russia and Eastern Europe.

Trump has pledged to dramatically hike tariffs on US cars made abroad, as moving production out of the country costs American jobs. The president-elect also praised Ford for scrapping a plan to build a plant in Mexico and Fiat-Chrysler’s announcement to create 2,000 jobs in the US.

Socialist Arnaud Montebourg and left-wing independent Jean-Luc Melenchon also praised Trump’s policy.

Le Pen’s calls for protectionism and anti-globalism has made her one of the upcoming French presidential elections favorites. The bookmakers regard conservative Francois Fillon as a favorite, and Le Pen is second favorite to win on April 23.

Fillon has a polar opposite stance on the car business. He calls for liberalizing car production and selling the government's 20 percent stake in Renault. Fillon says government control will not prevent companies from moving production abroad

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EU clears French capital injection for Areva www.reuters.com

European Union antitrust regulators approved on Tuesday French plans to grant a capital injection of 4.5 billion euros ($4.75 billion) to nuclear group Areva (AREVA.PA) and said Areva's restructuring plan would not unduly distort competition.

France, which owns 87 percent of Areva, notified the European Commission in April of the restructuring plan to restore the group's competitiveness and financial position.

State aid may be authorized under certain conditions when it contributes to an objective or common interest without unduly distorting competition.

The European Commission, which oversees competition policy in the European Union, said the state aid was subject to conditions, in particular a positive conclusion of tests on the nuclear reactor vessel Flamanville III and an approval of the divestment of Areva's reactor business.

Areva will concentrate on nuclear fuel.

(Reporting By Philip Blenkinsop; editing by Robert-Jan Bartunek)

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