Australia predicts a dramatic fall of iron ore prices www.bbc.com

Shares in Australian mining companies have fallen after the government forecasted a dramatic decline in iron ore prices.
The government forecast an iron ore price of $46.70 a tonne by 2018, almost half the current level of $80.
The current price is supported by resurgent demand from China.
But the Department of Industry, Innovation and Science said that demand is unlikely to continue over the coming years.
The department also lowered its forecast for iron ore exports by 2% to 832.2 million tonnes for the fiscal year 2016-17.
Australia is the world's biggest supplier of iron ore and shares in the country's main mining companies fell after the report was released.
Hardest hit was Fortescue Metals which fell more than 3% in early trade, while commodity giants BHP Billiton and Rio Tinto also saw their shares prices drop.
In its forecast early last year, the department had predicted an iron ore price of $44.10 per tonne, but an increase in Chinese demand spurred the price to above $80.

Mongolia to repay USD 580 million loan in first quarter of 2017 www.montsame.mn

Ulaanbaatar /MONTSAME/ “Mongolia will pay back a loan of USD580 million in the first quarter of this year. The Government has found a solution to repay the loan without delay, not causing pressure to the economy or imposing burden on the people. We will repay it on time” stated Prime Minister J.Erdenebat.

On January 06, in his speech addressing to a two-day seminar of Chairmen of Citizens representative meetings and Governors of provinces and the capital city, the Prime Minister also made a denial to information about Government’s intend to sell 49 per cent of Tavantolgoi deposit with USD400 million and it would be sold to one company.

“I state that this information is false. The Government has established a working group, whose suggestions and conclusions will be submitted to the Parliament for discussion. We will not be making decisions that do not meet the interest of Mongolian people regarding this world scale deposit” said PM J.Erdenebat.

Fiat Chrysler commits $1bn to US plants www.bbc.com

Fiat Chrysler Automobiles (FCA) has announced a $1bn (£816m) investment to produce three Jeep models in the US.
Under the plan it will also move the production of a Ram pickup truck from Mexico to the US.
The location of car production has become a sensitive issue, as President-elect Donald Trump is critical of firms that have moved production to Mexico and has threatened to impose tariffs.
However, BMW has told the BBC it will go ahead with a new plant in Mexico.
The German car giant is spending $1bn on a new factory at San Luis Potosi to make its 3 Series cars for sale across North America.
BMW sales and marketing director Ian Robertson told the BBC that the firm was "absolutely" committed to the facility.
He added that the company was investing a similar sum of money in a plant in South Carolina and pointed out that BMW was the biggest exporter of cars from the US.
President elect Donald TrumpImage copyrightGETTY IMAGES
The president-elect has threatened car makers with a "border tax" if they make cars in Mexico and sell them in the US.
Last week Ford cancelled a $1.6bn plan to build a plant in Mexico and instead decided to expand operations in Michigan.
Ford boss Mark Fields said the decision was partly due to falling sales of small cars and partly a "vote of confidence" in Mr Trump's policies.
On the same day as Ford's announcement, Mr Trump had criticised General Motors on Twitter for making cars in Mexico and importing them into the US.
"General Motors is sending Mexican-made model of Chevy Cruze to US car dealers tax-free across border. Make in USA or pay big border tax!" he tweeted.
Job creation
FCA said its announcement was the second phase of a plan, first outlined in January, to expand in the market for pickup trucks and sports utility vehicles (SUVs).
It will invest in a plant in Michigan, so that it can produce two new Jeep SUVs and take on the production of a Ram truck, currently made in Mexico.
An Ohio plant will be retooled to make a new Jeep pickup truck.
As a result, FCA says that 2,000 jobs will be added.

Samsung Executives to Be Questioned by Korean Prosecutors www.bloomberg.com

Samsung Electronics Co. executives have been summoned by South Korean special prosecutors amid a widening influence-peddling scandal that brought about South Korean President Park Geun-hye’s impeachment.

Baidu, CITIC approved to set up China's first independent direct bank www.xinhuanet.com

BEIJING, Jan. 7 (Xinhua) -- Chinese Internet giant Baidu has been approved to open a direct bank, finally joining its tech counterparts in offering banking services.

HMD Global launches first Nokia smartphone www.reuters.com

HMD Global, the Finnish company that owns the rights to use Nokia's brand on mobile phones, announced on Sunday its first smartphone, targeted for Chinese users with a price of 1,699 yuan ($246).

Gunmen kill eight Hazara miners in Afghanistan www.reuters.com

Unidentified gunmen killed eight members of Afghanistan's Hazara minority who were working as miners in the northern province of Baghlan, a local government official said.

14 coolest tech products from CES 2017 www.cnn.com

Thousands of tech companies descended on Las Vegas for CES 2017 this week to show off what they think you'll buy in the coming year.
Although we saw more of what dominated the tech scene last year -- smart home products, wearables and enough Amazon Echo partnerships to make your head spin -- some new products shined brightly above the rest.
From an underwater drone to the car of the future, here's a look at what impressed us most.

1. Toyota Concept-i

Toyota unveiled a concept car to highlight its vision for what cars may look like in 2030. With see-through glass doors, wheels built directly into the body and a bright white interior and exterior, the future is looking pretty sleek.
While you'd think we'd be riding in self-driving vehicles by then, the car isn't fully autonomous. Toyota believes you'll still want to drive yourself around 14 years from now.

2. Willow breast pump

New moms will appreciate the attention paid to baby tech this year. Willow's breast pumps were a standout, offering a quiet, hands-free and cordless approach to pumping on the go (and tracking how much you pump).

3. PowerRay drone

The high-flying trend will (once again) be out in full force in 2017. We saw pocket-sized drones and ones that follow you around, but PowerVision's underwater drone -- called the PowerRay -- took a clever approach by bringing the concept down under. The waterproof drone can swim 30 meters below water and uses sonar to help recreational fisherman better track fish.
Thanks to built-in Wi-Fi, the drone sends alerts to users back on land when fish are nearby. It'll even capture 4K video and photos, so you can replay the moment you caught your dinner.
Official pricing hasn't been announced, but it will be in the $3,000 range. Pre-orders start in February.

4. PowerEgg drone

Also from PowerVision, the PowerEgg is an egg-shaped collapsible quadcopter. It's unlike a drone we've ever seen before. Weighing in at about 4.5 pounds, the drone pops out of the plastic casing when it's time to fly.
It features on board GPS, a 4K camera and relies on your iOS or Android device for processing power. You can buy it now for $1,288.

5. LG 'wallpaper' TV

LG's new flagship 4K OLED TV is incredibly thin and light. Called the W -- for "wallpaper" -- it adheres to the wall with magnets. It's designed to look like you're watching TV through a window or picture on the wall. It comes in 65-inch and 77-inch options.

6. PicoBrew

PicoBrew ($200) is a homebrew kit that takes just a few hours to create 5 liters of beer. The device, which launched a Kickstarter campaign last fall, has more than 40 beer options for users to choose from. It's also easy to keep components sanitized -- an important piece of home brewing -- through its cleaning system.
But PicoBrew might not be novel for long. Anheuser-Busch and Keurig announced on Friday they are collaborating on an in-home alcohol drinks system.

7. Moro robot

The Moro robot does all of your chores, such as pouring drinks, picking up groceries and folding laundry. At about four feet tall, the white cylindrical robot -- with arms but no face or eyes -- moves in all directions. The system includes voice and facial recognition technology to take task requests and learn who is commanding it over time. There's no official launch date, but it comes with a hefty $30,000 price tag.

8. Motiv smart ring

Wearables are everywhere, but the Motiv smart rings packs everything you need into one small package. Unlike other smart rings, such as the Ringly, it's main focus is fitness. Motiv collects stats like your daily steps, heart rate, goals and distance and pushes that data to your smartphone. Available in gray or rose gold titanium device, it looks just like a traditional ring.
It also comes with standalone GPS, so there's no need to take your phone on runs to track your data. It will cost $200 when it launches in the spring.

9. Snoo bassinet

The Snoo bassinet is a robot that rocks your baby to sleep. The product went viral late last year, but we finally got a look at it in action. The Snoo, developed by renown designer Yves Béhar, rocks newborns to sleep when crying. Along with producing slight humming noise, the experience recreates how babies feel in the womb and aims to help little ones -- and parents -- sleep better at night. The Snoo also prevents babies from rolling over via a sleeper outfit that clips onto the bassinet's sides.

10. Vuzix glasses

Vuzix wants to succeed where Google Glass failed. The company's sunglasses pair with Android devices and display what's on the screen in the right lens. You can watch videos, get directions and read text messages via the small projected image is small. The glasses can be controlled with your voice or a touch pad on the right stem. The left lens is for snapping photos through its built-in camera. The Vuzix glasses will launch in the second half of 2017. Price is still unknown.

11. Little Fish smart speaker

Baidu's Little Fish smart speaker has potential to be the Amazon Echo of China. The Chinese technology company, often referred to as the Google (GOOGL, Tech30) of China, announced a device with a built-in screen that can control appliances, music and connected devices.
Baidu uses its own AI tech and doesn't rely on Amazon's Alexa system like other smart speaker assistants (we're looking at you, Lenovo). Price and availability hasn't yet been announced.

12. Sony projector

Sony's $25,000 projector is a pipe dream for most, but it's hard not to be wowed by what it does. The VPL-VZ1000ES model turns any room into a home theater. The projector weighs in at 77 pounds and can project a 100-inch image onto a wall just six inches away. It's available for pre-order now and will start shipping it in the spring.

13. Rapael smart glove

Rapael's smart glove reminds us how powerful tech can be. The glove helps rehabilitate stroke patients through virtual activities like darts and card games played on a compatible app. It wraps around the wrist, and sensors track patients' motion and improvement as they progress through therapy. Physicians and clinics around the world already use the Rapael glove, but it's now available for patients to rent for $99.

14. Lego coding kit

Tech isn't just for adults. Lego launched an innovative building and coding set that brings movement to Legos. Kids can build five different smart toy models, including a cat, robot and guitar, with the help of sensors and motors. The kit works alongside a corresponding app, which features 60 coding activities. It's also possible to add voice recordings via the app to give toys the ability to speak.

Toyota Motor stresses benefits to US www.nhk.or.jp

Toyota Motor is responding to criticism from US President-elect Donald Trump by highlighting its contribution to job creation in the United States.

Japan, France to work toward free trade deal www.nhk.or.jp

The foreign ministers of Japan and France have agreed to work toward a broad free trade agreement between Japan and the European Union at an early date.