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

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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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Mongolian FM Signs Book of Condolences on Fidel Castro's Demise www.en.montsame.mn

Ulaanbaatar /MONTSAME/ The Minister of Foreign Affairs of Mongolia, Mr Ts Munkh-Orgil, visited the Cuban Embassy in Ulaanbaatar, to sign the book of condolences, on the demise of historic leader of the Cuban Revolution, Commander in Chief Fidel Castro Ruz. Accompanying the FM, were Damdin Gansukh, Director of the Department of America, Middle East and Africa, Enkhbold Odmunkh, deputy Director of Protocol of the Foreign Ministry.
 
Cuban ambassador, Raul Delgado Concepción, thanked the Foreign Minister who also transmitted the condolences of the Spokesperson of the Mongolian Parliament (Great Hural) the gesture of visiting the diplomatic see to express condolences in the name of the government on occasion of the passing of the leader of the Cuban Revolution and great Cuban revolutionary.
The Minister recalled the valuable contribution of Commander in Chief Fidel Castro who started the friendly relationship between Mongolia and Cuba and strengthened the development of that relation, reports Prensa Latina.
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SEC said to be probing Rio Mozambique coal deal www.mining.com

The US Securities and Exchange Commission is investigating a massive writedown booked by world number two miner Rio Tinto on a coal deal in Mozambique according to news reports.
 
Rio Tinto acquired the Benga mine and other coal projects in the Southern African country’s Tete province in 2011, after buying Australia's Riversdale Mining for $3.7 billion.
 
But in 2013 the Anglo-Australian giant took an asset impairment charge of $3 billion on the coking coal venture citing challenges in building the necessary infrastructure to bring the project on stream.
 
Bloomberg reports the charge, part of a wider $14 billion in asset writedowns, led to the departure of then CEO Tom Albanese.
 
A year later Melbourne-based Rio sold the assets to an Indian company for just $50 million.
 
Mozambique's central Tete province is believed to hold one of the world's largest untapped coal reserves that has been compared with Australia's coal-rich Bowen Basin.
 
As part of a separate investigation, Rio this month fired two top executives in relation to a bribery case at its recently sold Simandou iron ore project in Guinea, West Africa.
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Protectionism and trade disputes threaten world growth, says OECD www.theguardian.com

A new wave of protectionism and trade tensions risks denting global growth, stoking inflation and harming living standards, the west’s leading economic thinktank has warned in its first in-depth forecasts since Donald Trump won the US election on an anti-globalisation platform.
 
The Paris-based Organisation for Economic Co-operation and Development (OECD) said it was optimistic that expected spending measures and tax cuts under the new US administration would boost growth there and in other countries. But it said global trade growth was already “exceptionally weak” and jobs would suffer if politicians rolled back the clock on trade liberalisation.
 
The thinktank warned of an uncertain outlook for the UK and its trading partners as Brexit negotiations began. It nudged up its forecasts for UK growth next year but still predicted the weakest performance since the recession and a further slowdown in 2018.
 
The OECD used its quarterly forecasts to urge governments to use low borrowing costs to invest and enact structural reforms. The group reprised a warning to politicians not to over-rely on central banks to drive the recovery with monetary policies, such as low interest rates and electronic money-printing programmes.
 
It forecast that, after averaging 3.9% growth over the decade to 2013, global growth would be 2.9% this year then edge up to 3.3% in 2017 and 3.6% in 2018.
 
“Almost a decade after the outbreak of the financial crisis, the global economy remains in a low-growth trap with weak investment, trade, productivity and wage growth and rising inequality in some countries,” said Catherine Mann, the OECD’s chief economist.
 
“Monetary policy is overburdened, leading to growing financial risks and distortions. Alongside structural reforms, a stronger fiscal policy response is needed to boost near-term growth and strengthen long-term prospects for inclusive growth.”
 
The OECD said global trade growth had collapsed and the prospects of only a modest recovery over coming years suggested globalisation “may now be close to stalling”.
 
The report did not specifically name Trump or any other politicians around the world who have tapped into disillusionment over the spoils of globalisation appearing to be unfairly distributed. But it did warn generally on the potential perils of protectionism.
 
OECD researchers analysed global growth prospects under different trade conditions and forecast a significant blow from rolling back the trade liberalisation seen over the last 15 years.
 
“The global loss in GDP would be about 1.3%, but for the countries that impose the restriction, in other words, the US, China and the EU, the loss in their GDP would be closer to 2%,” said Mann.
 
“The countries that impose the restrictions damage themselves more.”
 
The report noted that more than 25% of jobs depend on foreign demand in many of the 35 countries in the OECD group.
 
“This economic outlook suggests that protectionism and inevitable trade retaliation would offset much of the effects of the fiscal initiatives on domestic and global growth, raise prices, harm living standards, and leave countries in a worsened fiscal position.
 
“Trade protectionism shelters some jobs, but worsens prospects and lowers wellbeing for many others,” the report said.
 
The warning comes days after the US president-elect announced his intention to pull out of the Trans-Pacific Partnership trade deal.
 
Mann said the solution for countries like the US, where voters have voiced their frustration at how globalisation has apparently weighed on wages and job creation, was to use domestic policies to ensure the gains from trade were shared better.
 
“What we know about trade is it expands the pie. Now the problem with trade has been the distribution of the gains from trade and this has always been known … and the fabric of domestic policies has not addressed that,” she said.
 
On the tax and spending side, the OECD’s forecasters said they expected stimulus measures from the US government would raise US GDP growth by around 0.4 percentage points in 2017 and around 0.8 percentage points in 2018. US growth was expected to pick up next year and quicken again in 2018.
 
At its last forecasts in September, the OECD backtracked on its earlier warning that the UK would suffer instant damage from the Brexit vote. In this new outlook, the thinktank forecast UK GDP would have grown 2.0% this year, a touch higher than the 1.8% it predicted in September.
 
The forecast for next year was lifted to 1.2% from 1% in September. But that would still be the weakest growth since the depths of the global financial crisis in 2009 and is slower than the 1.4% forecast by the Bank of England and the government’s fiscal watchdog, the Office for Budget Responsibility.
 
An OECD forecast for 2018 showed economic growth slowing to just 1% and the thinktank warned of higher inflation on the back of a weaker pound.
 
It noted Philip Hammond’s move in last week’s autumn statement to abandon the strict borrowing rules of his predecessor, George Osborne, but urged the chancellor to go further. “A more significant increase in public investment would support demand in the near term and boost supply in the longer term.”
 
The thinktank also urged “caution” from the government over plans to raise the “national living wage” over coming years, warning it could backfire and hurt workers by increasing unemployment.
 
“The effects on employment need to be carefully assessed before any further increases are adopted, especially as growth slows and labour markets weaken.”
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Samsung Electronics considers splitting firm in two www.bbc.com

Samsung Electronics has confirmed it is considering dividing the company into two separate firms.
The company has been under pressure from some investors to break itself into a holding unit and an operating company to boost shareholder value.
The South Korean technology giant also announced plans to increase dividends and said it would continue to buy back more shares.
Restructuring pressure had been mounting after the Note 7 fiasco.
In October, the company was forced to stop production of its flagship smartphone model after failing to resolve battery problems leading to overheating and the devices catching fire.
A 'thorough review'
Samsung said it would bring in "external advisors to conduct a thorough review of the optimal corporate structure."
The firm pointed out that "the review does not indicate the management or the Board's intention one way or another."
Samsung also said it would pay out half of its free cash flow to shareholders for 2016 and 2017 and raise the dividend for 2016 by 36% compared to the previous year.
In order to improve governance, the firm said it would nominate at least "one new, international, independent Board member" as well as create a separate governance committee.
The company's statement comes after US activist hedge fund Elliott Management called for the firm to split into a holding unit for ownership purposes and a separate operating company.
Why two companies?
The fund argued that a split would simplify the company structure making it easier to get a clear valuation of the firm's assets.
Currently, companies within the wider Samsung Group are linked through a complicated web of cross shareholding, linking Samsung Electronics to many other Samsung's firms and affiliates ranging from shipping, to heavy industries to insurance business.
That makes it difficult for investors to get a clear idea of what each individual Samsung company is actually worth.
The benefit of splitting Samsung Electronics into two companies would be that the cross-shareholding would affect only the holding company while the operating unit could be assed separately - making it a lot easier to arrive at a clean company evaluation.
The proposal has won support from several of Samsung's investors and it is also thought that it would give back more control to the founding Lee family behind the company.
 
 
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India braces for large protests after rupee banknote ban www.rt.com

Thousands are expected to take part in nationwide protests across India on Monday against the government's withdrawal of two ubiquitous currency notes.
 
The 500 and 1,000 (about $7.50, $15) rupee notes were withdrawn earlier this month, turning 86 percent of the cash in the country to paper.
 
The anti-corruption measure caused chaos as cash machines began to run out of money with people rushing banks to exchange their old currency. The banks called in thousands of police to manage long lines outside branches.
 
Almost all of India's transactions are in cash and many people don't have a bank account.
 
According to the opposition parties, the so-called ‘day of rage’ protests are likely to take place at central government offices as well as outside banks.
 
The main opposition Congress party will hold a protest march in the southern city of Bangalore, where several thousand people are expected to participate, the BBC reported.
 
No-one is happy with the government’s demonetization move, the parties say, adding the old notes should be returned.
 
"The 1000 and 500 rupee notes should be allowed for all legal transactions, payments and settlements… till alternative arrangements of making new currency notes available is put in place or until 30 December," the Communist Party said.
 
Public anger and frustration were on the rise after the Indian government decided to get rid of the notes citing tax evasion and corruption.
 
Indian Prime Minister Narendra Modi has called for people to embrace digital payments and use less cash.
 
The finance minister said the demonetization move “expands the GDP and makes it cleaner; it pushes revenues, pushes the economy, pushes more money into the banking systems.”
 
Former Prime Minister Manmohan Singh, however, called the government's move to ban the much-used banknotes a "monumental mismanagement," predicting the country's gross domestic product to fall "by about two percent" as a result.
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Zimbabwe launches new currency to ease cash crunch www.rt.com

The Reserve Bank of Zimbabwe has introduced a national currency for the first time since 2009 in an attempt to tackle a sharp shortfall of the US dollar, the country’s primary medium of trade.
 
The new currency, called bond notes, is pegged at par with the US dollar and is backed by a $200 million bond facility with Afreximbank, according to the regulator.
 
An initial amount worth $10 million is going into general circulation in two and five dollar denominations.
 
The circulation of the dollar will not be suspended.
 
The bond notes have fueled fears of economic chaos with people’s savings being wiped out. Some analysts call the introduction of the new currency the Zimbabwean president’s “last gamble.”
 
The bond notes aim to halt the outflow of US dollars from the country as well as to ease a cash shortage.
 
The country started using US dollar as its primary currency seven years ago following the collapse the Zimbabwean dollar with hyperinflation of 500 billion percent.
 
Some vendors are accepting the new money, though say they will stop if the notes begin to lose value.
 
The introduction of the currency might cause shortages of commodities and price hikes, according to Harare-based economic consultant John Robertson.
 
“Anyone who needs foreign currency for imports will have to go to the black market. Inevitably the bond notes will lose their value. It is back to the Zimbabwe dollar scenario,” he said as quoted by AP.
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MNT 514.2 billions of loan to reduce air pollution granted www.gogo.mn

In scope of Mongolian Sustainable Financing Principle, MNT 880.8 billions of financing were funded to the companies as of first three quarters of 2016. Of which MNT 514.2 billions were granted to the projects aiming at reducing air pollution of Mongolia, which accounts the 58.4 percent of total financing. 
MNT 321.5 billion were funded to four water conservation projects, MNT 16.1 billion were funded to 787 renewable energy projects, MNT 28.6 billion were funded to 900 energy efficiency projects and MNT 400 million were funded to other green projects. About 30 percent (one in three) of loans borrowed by the commercial banks to the companies provide the requirement for green loans. 
In further, Mongolian Bankers Association is projected to establish "Green loan fund" and fincance the fund with international fundings. According to the international standard, up to US$ 50 millions of green loans is able to be granted for per green project.

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MBD Business missions to abroad in 2017 www.mongolianbusinessdatabase.com

Mongolian Business Database (MBD) will host the following trade missions to the target destinations.

- Feb: "High technology and start up business ecosystem" workshop & business program in Jerusalem, Israel with Innocon Valley based in Finland

- March 19-25: "Accounting business international standard" expo & Business program in Sydney, Australia with Mongolian Honorary Counsel in Sydney

- April 03-09: "The 6th Mongolia London Business Forum" & Business program in London, UK with Mongolian British Chamber of Commerce

- April 14-21: "NAMBC's 27th AGM & Investors Forum" & Business program in Washington DC with North America and Mongolia Business Council

May 09- 16 "Agriculture and Livestock farming best practices" expo and Business program in Brno and Prague, Czech Republic with the Embassy of the Czech Republic in UB.

July: "Doing Business with Mongolia" seminars in Helsinki, Finland and Stockholm, Sweden (Scandinavian Countries) with Innocon Valley based in Finland

Please save the date in your 2017 business calendar if/when you ll interested to participate on of these events.

Mongolian Business Database (MBD) is an agency which promotes foreign and domestic company's specific/particular business interest in foreign and local market and organize the B2B events in order to make the deal achieves to the reality.

MBD recently hosted Mongolian trade mission to Mongolian British Chamber of Commerce's “Doing Business with Mongolia” seminar and business program in London in Nov last year and Oct this year, "International Franchising Expo and the special training in Sydney in March and May 2016 with Mongolian Honorary and General Counsel in Sydney, NAMBC's Investors conference in Ottawa in May 2016 and Mongolian trade mission for International Festival for Business in Liverpool in end of June this year by the authorization of UK Embassy in UB and Liverpool Mayor's office.

MBD Admin
Galaxy Tower 1003
www.mongolianbusinessdatabase.com
contact@mongolianbusinessdatabase.com 
Tel: 77109911,98994787,99066062

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China risks wasting $490 billion on unneeded coal plants — study www.mining.com

China risks flushing down the toilet half a trillion dollars on new coal plants, which according to a study released Monday, the country doesn’t even need.

The report, published by London-based the Carbon Tracker Initiative, argues that not only does China not new coal plants, but also that existing capacity may come under financial pressure by 2020 from power market reforms and carbon pricing, which continue to squeeze coal generation out of the country’s power mix.

As of July this year, China had 895 GW of operating coal capacity or 2,689 plants being utilized less than half the time, with another 205 GW of capacity under construction, which is inconsistent with the goals of Beijing’s 13th Five-Year plan, the document shows.

It also argues that slower power demand growth and low carbon capacity targets will likely strand coal capacity. Additional capacity beyond existing plants is only required by 2020 if power generation growth exceeds 4% per year and coal plants are run at utilization rate of 45% or less, according to the report.

“It is clear that China is coming to terms with the fact it does not need any more coal capacity in a market where existing plants are not even running half the time,” said Matthew Gray, senior analyst and the study’s author. “The dynamic policy environment suggests China is trying to work out how to avoid wasting half a trillion dollars on unneeded coal plants.”

Given the expected increases in non-coal energy generation — hydro, wind, solar, gas, nuclear and biomass — coal generation in China could fall by up to 8% from 2015 to 2020, Gray warned.

“There are clear signs that Chinese coal generation is peaking, as the growth in alternative energy sources can meet lower power demand growth during the 13 FYP. This can only spell bad news for exporters betting on China propping up the seaborne thermal coal market in the future,” said James Leaton, Carbon Tracker’s head of research.

A drop in coal-fired power, combined with the resumption of domestic production, may kill China’s imports from overseas. The country, instead, could become a net exporter of coal again before 2020, negatively affecting seaborne thermal coal prices, the report concluded.

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K-pop video director Cha Eun-taek charged in South Korea corruption scandal www.bbc.com

A pop music video director in South Korea has been charged in a corruption scandal that threatens to engulf the country's president, Park Geun-Hye.
Cha Eun-taek will stand trial for allegedly using his ties to the president's confidante to win lucrative projects.
The charges include abuse of power, coercion and embezzlement.
Mr Cha, 46, has worked with Gangnam Style star Psy, and South Korean boy band megastars Big Bang.
His involvement in the scandal hinges around his links to Choi Soon-sil, Ms Park's close friend and the daughter of a cult leader, who is believed to have used her status to extract more than £48m ($60m) from top firms, including Samsung.
She is accused of meddling in a wide range of state affairs, including South Korea's preparations for the 2018 Winter Olympics.
Prosecutors say Ms Park herself ordered her former economic adviser to help Mr Cha pressure companies and officials so he would win contracts.

Ms Park, whose approval rating has dropped to 4%, apologised earlier this month for putting "too much faith in a personal relationship", and has pledged to co-operate with an official investigation into the corruption.
South Korea's constitution does not allow a sitting president to be prosecuted, and Ms Park has 15 months left in her term.
But now that prosecutors have directly linked her to criminal proceedings, it is possible she could be impeached for breaking the law.
For the past five weeks, huge rallies have been held across South Korea demanding the president's resignation.
Organisers say a gathering in Seoul on 26 November drew 1.5 million people. Police estimates put the number at 270,000.

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