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

NEWS

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French confectioners battle Chinese firm over Calissons d'Aix www.bbc.com

 
Angry French confectioners are preparing for battle over a sweet from Provence, after a Chinese company trademarked its name.
Calissons d'Aix are eye-shaped marzipan treats flavoured with melon, and firmly associated with France.
But Shanghai-based firm Ye Chunlin snapped up the rights under the noses of the Gallic manufacturers.
Now the French Union des Fabricants des Calissons (Union of Calisson makers) in Aix is fighting to block the decision.
Calissons have had protected status in France since 1991, so any brand making them there has to follow set methods.
But that only applies in France, meaning overseas sweet makers can pursue their own path.
French confectioners wanted global rights over the Calisson, and have spent well over a decade debating the "official" ingredients.
To stop foreign firms using the Calissons d'Aix name, they applied for an EU designation - the Protected Geographical Indication (PGI).
But Ye Chunlin filed its claim with the Chinese intellectual property agency, Sipo, before it came through.
The French sweet makers now hope to block the move via a counter-claim with Sipo.
Historians quibble about the exact origin of the Calisson, but it is believed to have started out as a medieval almond cake.
French novelist and filmmaker Marcel Pagnol reportedly said of the recipe: "You need one-third almonds, one-third fruit confits, one-third sugar, and a quarter savoir faire."
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China's $88 bil. gain if no TPP www3.nhk.or.jp

A US Congressional panel believes that the Chinese economy would get a boost if the Trans-Pacific Partnership fails to go ahead and its own Asian free-trade deal does.

The US-China Economic and Security Review Commission released its annual report on Wednesday.

It says if the TPP dies and the Regional Comprehensive Economic Partnership, or RCEP, goes into force, China would get an economic effect worth 88 billion dollars.

Sixteen economies including China, Japan and Southeast Asian countries are negotiating RCEP.

The report also speculates on the reverse situation the TPP going ahead without RCEP. China would suffer a loss of 22 billion dollars in that case.

President-elect Donald Trump says the US will withdraw from the TPP. In addition, the Republican Senate leader has dismissed the possibility of TPP bills being submitted before President Barack Obama's tenure ends in January.

 
 
 
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Eight eurozone countries under EU budget hammer www.rt.com

 
The European Commission has warned eight members of the bloc, including Italy, that their budgets may fail to comply with EU budget rules.
 
The planned fiscal adjustments of Italy, Spain, Portugal, Belgium, Finland, Slovenia, Cyprus and Lithuania are at risk of falling short of what is required, the Commission said on Wednesday.
 
According to euro regulations, all the member-states have to keep their budget deficits at or below three percent of GDP.
 
READ MORE: Portugal to bail out its biggest bank to the tune of €5bn
 
Ireland, France, Austria, Latvia and Malta are “broadly compliant” with the rules, while Germany, Estonia, Netherlands, Slovakia and Luxembourg are fully compliant, according to the body.
 
Being under a separately governed bailout program, Greece isn’t affected by the Commission’s review.
 
The EC expressed concerns that slow growth and increased uncertainty evoked by such factors as Britain's exit from the bloc and the results of the US presidential elections are having a significant impact on the eurozone.
 
“Those that can afford it need to invest more, while those which have less fiscal space should pursue reforms and growth-friendly fiscal consolidation,” said the European Commission President Jean-Claude Juncker.
 
Aiming to support recovery, the Commission will reportedly allow member-states an extra 0.5 percentage point breathing space on their budget deficits next year. The Treaty on European Union obliges eurozone countries to keep to a three percent limit on budget deficits and 60 percent on public debt.
 
Earlier this month, Spain and Portugal managed to avoid fines for failing to reach budget deficit cutting goals after the Council of the European Union set new fiscal policy “paths” for each country.
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Saudi Arabia warns Trump against stopping imports of its oil www.rt.com

 

Riyadh has warned the incoming US president Donald Trump of consequences if he chooses to stick to his election promise to block Saudi oil imports.
During the election campaign, Trump promised to make the US energy sector independent from “our foes and the oil cartels” and to create “complete American energy independence."

The Saudis said Trump should be careful before making such a drastic decision.

“At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy,” Saudi Energy Minister and Aramco chairman Khalid Al-Falih told the Financial Times.

The de facto OPEC leader is the largest Middle East oil supplier to the US. However, most of America's oil is produced domestically or imported from Canada. The Saudis have an 11 percent share in US crude oil imports, while Canada has 40 percent. OPEC’s total share of US oil imports is 31 percent.

In 2015, the US imported about 9.4 million barrels of oil per day from about 88 countries, says the government-run Energy Information Administration. The country consumed 7.08 billion barrels of petroleum products, or about 19.4 million barrels per day.

“The US is sort of the flag-bearer for capitalism and free markets,” according to Al-Falih. “The US continues to be a very important part of a global industry that is interconnected, that is dealing with a fungible commodity which is crude oil. So having equalization through free trade is very healthy for oil,” he said.

According to Falih, the Saudis are waiting for Trump’s presidency, as his presidential campaign had amounted to “50,000 feet announcements” that may change.

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Japan sees opportunity in the Earth's percolating heat www.asia.nikkei.com

TOKYO -- Fifty years ago, Japan's first geothermal power plant went online. Now with the world thirstier than ever for renewable energy, the country's decades of experience in the field is presenting a big export opportunity.
 
This is one reason why Japanese companies find themselves in the middle of a rain forest in the Indonesian province of North Sumatra, about an eight-hour drive from provincial capital of Medan.
 
They are developing a plant that, once completed, will be the world's largest single geothermal power station. All together, the three facilities at the Sarulla plant will be able to generate 320,000kW of electricity. The No. 1 unit is already steaming ahead of its official launch by the end of the year.
 
"This might become a geothermal hot spot," one industry official said.
 
The huge project will cost more than $1.6 billion. Trading house Itochu and Kyushu Electric Power each have a 25% stake in the special purpose company responsible for the plant's construction, maintenance and operation. Inpex, an oil and gas developer, has 18%, and the rest is owned by Medco Power Indonesia, a major resource company, and other parties.
 
The Kyushu Electric group is an internationally recognized geothermal development consultant.
 
The turbines at the heart of the power units are made by Toshiba, the Japanese electronics maker. Alongside Mitsubishi Hitachi Power Systems, Toshiba is the world's top supplier of geothermal turbines, controlling 22% of the market.
 
Since subterraneous steam contains hydrogen sulfate and many other chemicals, "the turbines need to be even more durable and anti-corrosive than ordinary thermal power turbines," explained Kenichiro Furuya, group manager of Toshiba's Thermal & Hydro Power Systems & Services division.
 
It took a few years
 
Japanese companies first began gathering technological geothermal expertise at the Matsukawa power plant in Hachimantai, Iwate Prefecture.
 
Japan's first commercial geothermal plant is in a sulfurous hot spring area deep in the mountains. About 800 meters to 1,600 meters below the plant's impressive 46-meter cooling tower sits a steam pool where groundwater is heated by magma. Steam from the pool drives the turbines, which generate electricity.
 
The station was originally built by Japan Metals & Chemicals. The company began studying the area in 1956 with the help of the Agency of Industrial Science and Technology, now the National Institute of Advanced Industrial Science and Technology. The 2 billion-yen ($18.5 million at today's rate) project suffered a series of problems, a company official said. For instance, workers had to repeat a cycle of drilling a few hundred meters down, then stopping to check where the steam was.
 
Toshiba supplied the turbines, which began turning in October 1966 -- 10 years after the project began. The station's initial output capacity was 9,500kW, about 40% of today's 23,500kW.
 
Another of the problems was rock dust that accompanied the steam and sometimes broke the turbines. That's right: Clean energy isn't always clean.
 
It took a few years to stabilize operations.
 
Advatage, geothermal
 
The struggles in Hachimantai have helped the development of other geothermal power plants across
 
Japan. In the 1980s and 1990s, development spread in northeastern Japan and on the southern island of Kyushu -- two areas with vast geothermal resources.
 
Japan now has 14 geothermal power stations.
 
However, geothermal has never become a mainstream energy source. Compared to conventional fossil-fuel power stations, geothermal plants produce less power and take longer to build.
 
In 1966, when the Matsukawa plant finally went into service, Japan's first commercial nuclear power plant -- the Tokai power station, in Ibaraki Prefecture -- also began operating. Japan's geothermal energy development lost momentum in the mid-1990s as utilities opted for reactors and state subsidies dissipated.
 
With Japan nodding to nuclear, the geothermal industry shifted overseas.
 
The tide changed after the March 2011 earthquake that devastated northeastern Japan and the subsequent tsunami that crippled the Fukushima Daiichi nuclear power plant. Following the triple meltdown, Japan shut off all of its nuclear power stations.
 
The introduction of a feed in tariff system for renewable energy the following year also worked to geothermal's advantage.
 
Outsmarting overseas rivals
 
The cliche about Japan being resource-poor isn't exactly true; it has the world's third largest
geothermal "reservoir." To make the most of the pool's potential, the government in 2012 loosened regulations to make it easier to build geothermal power plants.
 
Though eclipsed by the solar industry after the feed in tariff system kicked in, geothermal is gradually gaining ground. A few dozen development projects are now underway.
 
The Agency for Natural Resources and Energy estimates that in 2030 domestic geothermal power output capacity will reach 1.4 million kilowatts, almost triple the amount today. Although that will still amount to a mere 1% of the overall power produced in the country -- up from the current 0.3% -- it will be a meaningful step forward.
 
Hopes are growing for Japanese companies to tap not only Southeast Asia but also Latin America. Japanese players are also helping Africa exploit its geothermal resources.
 
Thanks to growing environmental concerns around the world, global geothermal output is projected to swell from 12 million kW in 2015 to 21 million kW in 2020.
 
Japan wants multiple slices of this pie. And Katsumi Hironaka, deputy general manager of Mitsubishi Hitachi Power Systems' International New Energy Business Management Department, says they are there for the taking.
 
"We will," he said, "outsmart overseas rivals in maintenance, too."
 
 
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UBS won't change London presence any time soon, chairman says www.reuters.com

Swiss bank UBS will not make any changes to its London operations any time soon in the wake of Britain's vote to leave the European Union, the bank's chair of its board of directors, Axel Weber, said on Wednesday.
 
"We are not planning to change anything any time soon and we will wait and see where the dust settles", Weber said at a conference hosted by the bank.
 
The former Bundesbank chief added that he expected the Brexit process to generate further volatility going forward and that all the key decisions to be made in the very final stages of negotiations.
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Japan bank to provide loans for UK biomass project www3.nhk.or.jp

NHK has learned that a government-affiliated bank in Japan plans to provide funds for a biomass power project in Britain. The green energy uses materials from plants and animals, such as woodchips and cattle manure.

Sources say the Development Bank of Japan, along with other banks in Japan and Europe, will extend loans to build a plant near Middlesbrough.

The sources say the Development Bank will lend tens of millions of dollars in project financing.

With a capacity of 300 megawatts, the biomass plant will be one of the largest in the world. It is expected to start operating in 2020 and will supply electricity to 600,000 homes.

Biomass is seen as a more stable source of renewable energy than solar and wind power. It is also expected to help the forestry industry by using woodchips obtained by thinning trees.

Biomass power generation is expected to increase in Japan as the Paris Agreement has taken effect to cut greenhouse gas emissions worldwide.

The sources say the Development Bank is hoping to apply the know-how from the British project to promote renewable energy in Japan.

The bank is also financing solar and offshore wind power generation projects.

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Nintendo shares rise on Super Mario iPhone game date www.bbc.com

Shares in Nintendo have climbed after it announced a launch date for its new Super Mario game for the iPhone.
Super Mario Run will be released in Apple's App Store on 15 December, with users having to pay $10 (£8) for the full game.
Nintendo, which announced the tie-up last month, saw its shares jump by as much as 5%.
It hopes to build on the global success of its Pokemon Go app from earlier this year.
But because Pokemon was free to download, analysts said it did not generate as much money for the firm as it could have done.
Smartphones are the gaming industry's fastest growing source of revenue and the Japanese firm has been criticised for being slow on the uptake.
It has promised to to unveil more gaming titles by March 2017, with an Android version of Super Mario Run also planned.
The evolution of Super Mario
Super Mario Bros was created as a sequel to Donkey Kong. It is the most successful video game series of all time.
Mario is an Italian-American plumber and has a younger brother called Luigi.
In the game he has to navigate a series of levels, avoid enemies and collect coins along the way.
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Construction process of new airport project is at 99 percent www.mongolia.gogo.mn

The New Ulaanbaatar International Airport, a construction with the biggest foundation in Mongolia is designed with the capacity of up to 3 million passengers per year and have capacity to receive 1500 passengers per hour.
In comparison, the current airport (Chinggis Khaan International Airport, the largest airport in Mongolia) serves about 900,000 passengers per year (2011 figures). Also, the cargo capacity is projected to increase 10-fold.
The new airport is located 52 km south of Ulaanbaatar city center in Sergelen soum, Tuv province. It is also hoped to be an airline hub which connects Europe and East Asia, North America and South East Asia (through the Polar route).
 
In May 2008, a ¥28.8 billion (US$385 million) 40-year soft loan agreement at 0.2% interest was signed between the Government of Mongolia and the Japan Bank for International Cooperation to build a new international airport.
 
Construction started in May 2013, and is expected to finish by January 2017. Currently, the construction process is at 99 percent.
The airport is able to launch 6 planes from its passenger boarding bridges and 13 planes from its field. 5 planes with up to 300 passengers are able to take off at once, reported by the project manager.
 
The airport expects to receive 3 million passengers by 2024 and 5 million passengers in 2032, according to the economic estimation.
At that time, it is possible to expand the airport by increasing the number of passenger boarding bridges up to 20.
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Amendments to Marrakesh Agreement will serve for landlocked countries’ interests www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Foreign Affairs Ts.Munkh-Orgil presented a draft bill on ratifying the Protocol on the amendments to the Marrakesh Agreement on Establishing the World Trade Organization, and draft amendments to the Law on Custom Tariffs and Duty, on November 15.
 
Mongolia joined the WTO in 1997, becoming a party to the General Agreement on Tariffs and Trade (GATT) and the Agreement on the Rules of Origin.
 
The parliament passed the Custom Tariffs Law in 2008 and amended it in 2015. However, certain provisions of the law are in conflict with Mongolia’s duties before the above mentioned international agreements. For instance, the Mongolian customs require certificate of origin from goods for imports, otherwise impose a doubled amount of customs duty. The regulation has been causing difficulties, having lengthened the period of custom clearance obtainment.
 
The protocol on amending the Marrakesh Agreement – the Trade Facilitation Agreement was initiated by landlocked countries such as Mongolia, Bolivia and Paraguay in 2003, and was backed in 2013.
 
The Agreement will be take force after ratification by 110 countries, the two thirds of all parties of the Marrakesh Agreement. The Trade Facilitation Agreement has been ratified by 96 countries, so far.
 
With the adoption of the Trade Facilitation Agreement, landlocked countries will be able to enjoy assistance and support from the development partners, to implement foreign trade-oriented projects, to reduce costs of external trade, to increase exports, to improve road and railway systems and to alleviate commerce and transport through various projects.
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