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

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50 percent of waste could be recycled www.gogo.mn


There are 357 authorized landfill sites in rural areas. However, only 68 of the landfills bury waste under layers of soil.
As of 2015, total 2.3 million tons of waste were taken to 371 landfills. 
50 percent of waste could be recycled. However, less than 1 percent of total waste are being reused, recycled and exported throughout Mongolia. 
Thus, Ministry of Environment and Tourism is working to approve the amended law on waste by State Great Khural. 
The amended law on waste will regulate not only regular waste but also radioactive and hazardous waste of the country, which is estimated to be around 29-58 thousand tons per year.
 
 
 
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China posts worst export fall since 2009 as fears of U.S. trade war loom www.reuters.com

 
China's massive export engine sputtered for the second year in a row in 2016, with shipments falling in the face of persistently weak global demand and officials voicing fears of a trade war with the United States that is clouding the outlook for 2017.
 
In one week, China's leaders will see if President-elect Donald Trump makes good on a campaign pledge to brand Beijing a currency manipulator on his first day in office, and starts to follow up on a threat to slap high tariffs on Chinese goods.
 
Even if the Trump administration takes no concrete action immediately, analysts say the specter of deteriorating U.S.-China trade and political ties is likely to weigh on the confidence of exporters and investors worldwide.
 
The world's largest trading nation posted gloomy data on Friday, with 2016 exports falling 7.7 percent and imports down 5.5 percent. The export drop was the second annual decline in a row and the worst since the depths of the global crisis in 2009.
 
It will be tough for foreign trade to improve this year, especially if the inauguration of Trump and other major political changes limit the growth of China's exports due to greater protectionist measures, the country's customs agency said on Friday.
 
"The trend of anti-globalization is becoming increasingly evident, and China is the biggest victim of this trend," customs spokesman Huang Songping told reporters.
 
"We will pay close attention to foreign trade policy after Trump is inaugurated president,” Huang said. Trump will be sworn in on Jan. 20.
 
China's trade surplus with the United States was $366 billion in 2015, according to U.S. customs data, which Trump could seize on in a bid to bring Beijing to the negotiating table to press for concessions, economists at Bank of America Merrill Lynch said in a recent research note.
 
A sustained trade surplus of more than $20 billion against the United States is one of three criteria used by the U.S. Treasury to designate another country as a currency manipulator.
 
China is likely to point out that its own data showed the surplus fell to $250.79 billion in 2016 from $260.91 billion in 2015, but that may get short shrift in Washington.
 
"Our worry is that Trump’s stance towards China’s trade could bring about long-term structural weakness in China’s exports," economists at ANZ said in a note.
 
"Trump’s trade policy will likely motivate U.S. businesses to move their manufacturing facilities away from China, although the latter’s efforts in promoting high-end manufacturing may offset part of the loss."
 
On Wednesday, China may have set off a warning shot to the Trump administration that it is prepared to push back. Beijing announced even higher anti-dumping duties on imports of certain animal feed from the United States than it proposed last year.
 
"Instead of caving in and trying to prepare voluntary export restraints like Japan did with their auto exports back in the 1980s, we believe China would start by strongly protesting against the labeling with the IMF, but not to initiate more aggressive retaliation ... immediately," the BofA Merrill Lynch Global Research report said.
 
"That said, even a 'war of words' could weaken investor confidence not only in the U.S. and China, but globally."
 
CHINA'S DECEMBER EXPORTS FALL
 
China's December exports fell by a more-than-expected 6.1 percent on-year, while imports beat forecasts slightly, growing 3.1 percent on its strong demand for commodities from coal to iron ore which has helped buoy global resources prices.
 
An unexpected 0.1 percent rise in shipments in November, while scant, had raised hopes that sluggish global demand for Chinese goods was turning around.
 
China reported a trade surplus of $40.82 billion for December, versus November's $44.61 billion.
 
While the export picture has been grim all year, with shipments rising in only two months out of 12, import trends have been more encouraging of late, pointing to a pick-up in domestic demand as companies brought in more raw materials from iron ore to copper to help feed a construction boom.
 
Indeed, China imported record amounts of crude oil, iron ore, copper and soybeans in 2016, plus large volumes of coal used for heating and in steelmaking.
 
"Trade protectionism is on the rise but China is relying more on domestic demand," said Wen Bin, an economist at Minsheng Bank in Beijing.
 
Prolonged weakness in exports has forced China's government to rely on higher spending and massive lending to boost the economy, at the risk of adding to a huge pile of debt which some analysts warn is nearing danger levels. [nL4N1F23BM]
 
But signs are growing that the red-hot property market may have peaked, meaning China may have less appetite this year for imports of raw materials.
 
"It is hard to see what could drive a more substantial recovery in Chinese trade," Julian Evans-Pritchard, China Economist at Capital Economics, wrote in a note.
 
"Further upside to economic activity, both in China and abroad, is probably now limited given declines in trend growth. Instead, the risks to trade lie to the downside...," he said, saying the chance of a damaging China-U.S. trade spat has risen since Trump's appointment of hardliners to lead trade policy.
 
A decline in China's trade surplus in 2016, to just under $510 billion from $594 billion in 2015, may also reduce authorities' ability to offset capital outflow pressures, which have helped drive its yuan currency to more than eight-year lows, ANZ economists said.
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Steve Jobses continue to be born ... in China www.asia.nikkei.com

 
CHONQING -- The man who championed computers as tools that would enrich people's lives, then decades later introduced us to the smartphone and put apps in our pockets, is now, more than five years after his death, helping to spawn a wave of like-minded entrepreneurs in China.
 
Steve Jobs is so revered in the country that one entrepreneur after the other has been knighted "the Steve Jobs of China."
 
The first to gain the title was Jack Ma Yun, chairman of e-commerce giant Alibaba Group Holding. Ma quit a teaching job in 1999 to start a business that would go on to become one of the world's largest companies.
 
But it has been bestowed upon many others. Feng Jun, head of Aigo Digital Technology, which emerged as a maker of portable music players around the time of the Beijing Olympics, succeeded Ma as the next Steve Jobs of China.
 
More recently, Lei Jun, CEO of rapidly flourishing smartphone maker Xiaomi, has followed. Huang Zhang, head of Zhuhai Meizu Technology, one of the leading candidates for greatness in the post-Xiaomi race, has also made the list. Jia Yueting, chairman of LeEco -- which began as a video streaming service before diversifying into TV services, smartphones and environmentally friendly vehicles -- has also worn the halo.
 
Many Chinese dream of becoming huge successes. The number of Chinese citizens in the Hurun Report ranking of wealthy individuals with assets of 2 billion yuan ($289 million) or more increased by 179, to 2,056, in 2016. Of them, at least 68 were born in 1980 or later. Most in this subset head information technology ventures.
 
Although most Chinese university students prefer stable jobs, either in the public sector or at big companies, about 3%, or just over 200,000, start their own businesses after graduating. Close to half of university graduates are said to want to start businesses after gaining some work experience.
 
The government has begun helping would-be entrepreneurs gain funding.
 
Some question whether the Steve Jobses of China are really producing any new value, and some of their companies are losing momentum. Yet entrepreneurs wishing to become the next Jobsian guru are in fact invigorating Chinese society and driving economic growth.
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Foxconn-Sharp considering LCD plant in US www.asia.nikkei.com

 
OSAKA -- Hon Hai Precision Industry and its Japanese subsidiary Sharp have begun studying the possibility of building a liquid crystal display panel plant in the U.S., a Sharp executive said Friday.
 
The plan is "on the table," the executive said. "We will make a decision carefully."
 
The Taiwanese electronics contract manufacturer, also known as Foxconn, and its Japanese alliance partner SoftBank Group reportedly told Donald Trump they would jointly make significant investments creating new jobs in the U.S. when SoftBank Chairman Masayoshi Son met the President-elect in New York last month.
 
The joint investment plan was proposed by Son, the Sharp executive said.
 
With Trump urging American manufacturers to bring operations back to the U.S., Hon Hai is considering production in the U.S. due to its huge market for TVs and other home appliances.
 
In late December, an LCD panel maker jointly owned by Hon Hai and Sharp announced it would build one of the world's largest panel plants for LCD TVs in Guangzhou, China. The plant is to be jointly built with the local government at a cost of around 1 trillion yen ($8.69 billion) and is scheduled for completion in autumn 2018.
 
Details of the possible new U.S. plant, including the amount of investment and the date for the launch of operations, have yet to be decided. But people familiar with the plan said approximately the same amount may be spent on the U.S. project as it would entail the construction of a similar facility to to the one in Guangzhou.
 
Hon Hai, a major producer for Apple, is also considering iPhone production to the U.S.
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Peach Aviation to launch Okinawa-Bangkok route www3.nhk.or.jp

 
Peach Aviation is set to become the first Japanese budget airline to have regular flights to Bangkok. A new route will connect Naha in Okinawa with the Thai capital from next month.
 
Peach began operating 5 years ago. It currently has routes between Japan and 6 cities overseas, including Shanghai and Hong Kong.
 
Flights between Naha Airport and Bangkok's Suvarnabhumi start taking off from February 19th.
 
Peach Aviation's 180-seat Airbus A-320 will make one round trip between the 2 cities daily.
 
Japan is a popular travel destination for Thai people. Over 800,000 of them visited from January to November last year.
Shinichi Inoue, Representative Director and CEO of Peach Aviation, said the airline chose Bangkok because the demand for travel to Japan has been increasing rapidly in Thailand.
 
Inoue added that since Bangkok is located near the center of Southeast Asia, he's hoping tourists from neighboring countries will also use the route.
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Mongolia celebrates 25th anniversary of Constitution www.montsame.mn

 
Ulaanbaatar /MONTSAME/ An honorary meeting dedicated to the 25th anniversary of the adoption of the democratic Constitution of Mongolia was held at the Great Hall of the State House of Mongolia on January 13.
 
The Speaker of Mongolian Parliament M.Enkhbold delivered opening remarks at the event, mentioning the significance of the first Constitution of Mongolia and the history of how the Constitution laid the foundation of the today's democratic society and economy.
 
The Constitution of Mongolia ratified on January 13, 1992 with a signature of the first president of Mongolia P.Ochirbat and went into force on February 12, 1992 and was amended twice in 1999 and 2001 respectively. It consists of six chapters and divided into 70 articles. Previous three Constitutions had been adopted in 1924, 1940 and 1960.
 
Afterwards, Mr Enkhbold awarded the Red Flag Order of Labor Merit to B.Demberel, R.Yondondemberel, D.Naidan, P.Nyamsuren, D.Purevdorj, Sh.Tsendjargal, D.Shagdar, and P.Enkhsaikhan.
 
The same day, Mr. M.Enkhbold delivered a congratulatory message to Mongolians on the occasion of the 25th anniversary of the adoption of the democratic Constitution of Mongolia.
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Takata shares rise on US airbag settlement reports www.bbc.com

 
Shares of Japanese airbag manufacturer Takata have risen on reports it will settle a lawsuit with US regulators.
The firm is expected to pay up to $1bn (£822m) and plead guilty to criminal wrongdoing over faulty airbags, which have been linked to the more than a dozen deaths globally.
Most major carmakers have been affected by the fault, with around 100 million Takata airbags recalled globally.
Takata shares rose more than 16% in early Tokyo trading.
Restructuring plan
Takata has acknowledged some of its airbag inflators exploded with too much force and sprayed metal shrapnel into the car.
The fault has been linked to the loss of at least a dozen deaths and more than 100 injuries.
Takata has not disclosed the total cost of the global recall, but there have been multiple reports it is working on a restructuring deal and potential bankruptcy protection.
The outgoing US administration is keen to clear several of its major investigations before President Barack Obama leaves office.
US authorities have announced several large settlements involving in recent days, including against Volkswagen and Fiat Chrysler.
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Iran welcomes Airbus as first post-sanctions airliner www.bbc.com

 
Iran has taken delivery of its first Western-built passenger plane in decades, following the lifting of sanctions last year.
The Airbus A321 landed in Tehran to an official ceremony that included Transport Minister Abbas Akhoundi.
IranAir will eventually take possession of 100 planes from Airbus and 80 from Boeing.
World powers agreed to lift sanctions against Iran in return for its curbing of nuclear activities.
The Airbus 321 had flown from Toulouse in France and its passengers included company chief Fabrice Bregier.
Correspondents say Thursday's arrival is being seen as symbolic of Iran's emergence from decades of economic isolation.
State TV called it "a historic moment for Iran, signalling the end of the sanctions era for the country".
"This is a prelude to the delivery of other aircraft and the renovation of Iran's ageing air fleet," it added.
The IranAir fleet is among the oldest in the world, experts say, and has relied on parts being smuggled into the country to keep its planes flying.
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Top fund manager likens Trump market rally to dotcom bubble www.theguardian.com

 
Britain’s best known fund manager has likened the current stock market euphoria to the dotcom bubble, even as the FTSE 100 closed at yet another record high.
 
After a volatile day’s trading, the leading index finished 1.88 points higher at 7292.37, marking the 11th consecutive day of record closes and the market’s 13th successive daily rise.
 
But Neil Woodford, who admitted his own fund’s performance in 2016 was disappointing, said the current situation reminded him of the technology bubble which reached a peak on the last day of 1999 and then burst dramatically.
 
He said : “There was a period then when fundamentals didn’t matter at all and markets just became completely momentum-orientated. There was no price that people wouldn’t pay to be positioned in technology stocks and no price that they wouldn’t sell shares that were focused on the old economy.
 
“And in a similar sort of way – maybe not to the same extreme, but in a similar way, we have seen 2016 play out like that. Valuation has become significantly less important. Indeed, arguably irrelevant in this sort of post-Trump period. Momentum has driven the share prices, not fundamentals.”
 
The FTSE 100 has been boosted by a fall in sterling since the Brexit vote, which has helped those companies which make most of their earnings overseas and has also made UK businesses cheaper for overseas investors.
 
An early rise in the pound on Thursday, as the dollar weakened, sent the index lower in early trading. The slump in the greenback, which pushed the pound up nearly 1% to $1.2316, followed disappointment that US president-elect Donald Trump had not given details of his proposed spending and tax plans to boost the economy at Wednesday’s press conference.
 
Pharmaceutical companies, hit by renewed threats by Trump to cut the prices they charge for their drugs, were among the losers, while Christmas trading statements from UK retailers proved a mixed bag.
 
But sterling lost its gains as the day progressed and was marginally lower at £1.221 by the time the London stock market closed, helping the leading index edge to its new peak.
 
In the US, the disappointment with Trump’s press conference performance and the lack of economic news from the president-elect sent the Dow Jones Industrial Average down 152 points to 19,802 by lunchtime. On Friday, it had come within one point of breaching the elusive 20,000 barrier.
 
Chris Beauchamp, chief market analyst at IG, said: “The apparent demise of the rally is being blamed on disappointment following the president-elect’s press conference, but in reality the surge was already running on air, with US markets in particular having essentially gone nowhere since mid-December. This fact was masked by the ongoing hope of Dow 20,000, but it looks like this has been scrubbed from the timetable for the next few weeks.”
 
In the eurozone, a stronger euro saw Germany’s Dax drop 1% and France’s Cac close down 0.5% with exporters among the leading fallers.
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Gold price makes stab at $1,200 www.mining.com

 
Gold advanced to a six-week high on Wednesday after Donald Trump's first press conference as US president-elect sparked a sell-off in the US dollar.
 
Gold for delivery in February, the most active contract on the Comex market in New York, hit a high of $1,198.50 an ounce in early afternoon trade, up over 1% from Tuesday's close and the highest on an intra-day basis since November 28.
 
Gold is up more than $70 an ounce since hitting post-US election lows mid-December, but remains down some $140 from an initial but brief surge on election night as results showed a likely victory for Trump.
 
A pillar of president-elect Trump's economic plan is fiscal stimulus in the form of tax cuts and $500 billion-plus of infrastructure spending.
 
Gold bears have been making big bets that a Trump administration will lead to strong US economic expansion, higher interest rates and a stronger dollar. Higher interest rates boosts the value of the dollar and makes gold less attractive as an investment because the metal is not yield-producing and investors have to rely on price appreciation for returns.
 
But Trump offered nothing new on Wednesday and while the dollar was moving higher ahead of the presser, the currency fell soon after reports MarketWatch:
 
“Investors were hoping for specific answers pertaining fiscal policies and tax reforms, but Trump did not address those. Instead it was more focused on bashing China and Mexico,” said Steven Englander, global head of G-10 currency strategy at Citi.
The dollar measured against a basket of the currencies of major US trading partners surged following the elections hitting a 14-year high. The greenback's all-time peak of 164.7 was reached in February 1985. That coincided with a bottom in the price of gold of $284.25 an ounce.
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