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    

Category

Events

Events

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

NEWS

64x64

Mitsui O.S.K. to ship shale gas byproduct to India www.asia.nikkei.com

TOKYO -- Mitsui O.S.K. Lines will transport ethane, a byproduct of shale gas production, to India starting this month under a long-term contract it has signed with Reliance Industries, the largest petrochemical company in the South Asian country.
 
With its mainstay containership business bleeding red ink, the Japanese shipping company aims to cultivate a new source of earnings.
 
Under the contract, Mitsui O.S.K. will ship ethane derived from shale gas produced near the Gulf of Mexico to India for about 15 years. It will operate six Reliance-built vessels. The first of these -- completed on Wednesday -- can carry approximately 87,000 cu. meters of ethane, double the capacity of earlier models. The other five vessels will begin operating by 2017. Mitsui O.S.K. expects annual sales of 20 billion yen ($189 million).
 
Reliance will use the ethane to make ethylene, which will be employed in production of packaging film and synthetic rubber.
 
Mitsui O.S.K.'s containership business, which accounts for 40% of group sales, is losing money amid falling freight rates. Mitsui O.S.K., Nippon Yusen and Kawasaki Kisen Kaisha have decided to merge their containership operations.
...


64x64

Modi seeks deeper nuclear ties with Japan www.asia.nikkei.com

NEW DELHI -- As a bilateral summit with Japan approaches, Indian Prime Minister Narendra Modi is hopeful that the two nations will deepen economic ties in nuclear energy and other key areas.
 
"Our relations with Japan are very easy to take forward," Modi told reporters Wednesday, a day before he visits Japan. The two sides are expected to ink the final deal on a civil nuclear agreement on Friday.
 
India signed similar accords with the U.S. and France back in 2008. The South Asian country seeks to lift its atomic power output capacity by a magnitude of 10 by 2032. If Tokyo and New Delhi formalize their nuclear agreement, India can accelerate its facility construction with equipment supplied by Toshiba, which owns Westinghouse Electric of the U.S., and other Japanese companies.
 
Modi believes the agreement with Japan will go a long way toward cutting greenhouse gas emissions. "India has taken a huge initiative as far as renewable energy is concerned to fight global warming and climate change," he said.
 
Japan and India are also cooperating on building a high-speed rail line connecting Mumbai and Ahmedabad, with the technology based on the Japanese shinkansen bullet train. Construction has initially been slated to take place between 2017 and 2023, but critics claim the groundbreaking will likely be delayed. The project is proceeding mostly according to the agreed-upon schedule, Modi said.
 
Modi declined to say whether the six other high-speed corridors in the works will adopt shinkansen technology, but he said that the Mumbai-Ahmedabad line may spur the proliferation of bullet trains across India. He added that the relationship with Japan could also help India "export [high-speed rail] technology and products to other parts of the world."
 
The Japanese side maintains that offshore manufacturing of trains and other equipment in India would be prohibitive if the shinkansen design is not utilized on the other six lines. That Modi mentioned the word "export" suggests the possibility that India may acquiesce to Japan's wishes.
 
On the military front, the two sides "have established bilateral mechanisms to discuss defense equipment and technology cooperation," Modi said. He did not touch on whether India will purchase the US-2 amphibious aircraft developed by Japan's ShinMaywa Industries. But he did mention how Japan "has high technology in several areas."
 
"I am hopeful that our cooperation in [the] defense field will continue to mature," he said.
 
Modi remains emphatic that India and Japan can serve both sides' needs on multiple fronts: "You have the technology, we have opportunities for using that technology," the prime minister said. "You have the finance, we have the opportunities for using that to develop our infrastructure. India has a very huge market."
 
 
...


64x64

Peru may attract more foreign investment through APEC 2016: expert www.xinhuanet.com

LIMA, Nov. 9 (Xinhua) -- Peru could attract as much as 50 billion U.S. dollars in investment as the host of the upcoming 2016 Asia-Pacific Economic Cooperation (APEC) leader's meeting next week, a leading researcher said.
 
Fernando D'Alessio, director of the Centrum research center at the Pontifical Catholic University in Lima, said the Peruvian government has to use this event to attract more investment.
 
Speaking at the launch of a new book, "Peru: Leaders' Vision APEC 2016," D'Alessio said he believed in the ability of President Pedro Pablo Kuczynski and his cabinet to secure economic development.
 
The new book, which will be offered as a present to important attendees to the meeting, seeks to showcase Peru's socio-economic situations and its potential business opportunities. It was co-developed by the Ministry of Foreign Affairs and the APEC Business Advisory Council (ABAC).
 
"Our intention is to put the eyes of the world, especially the leaders of the 21 APEC member economies, onto the options in our country, putting an emphasis on the most highlighted productive sectors, which drive our economic growth," he said.
 
According to D'Alessio, the Peruvian market is becoming ever more attractive to foreign investors, especially in trade, mining, energy and tourism.
 
The 21 members of APEC account for 39 percent of the global population, 57 percent of global GDP and 49 percent of global trade.
...


64x64

Lloyds Banking Group to close 49 branches and cut 665 jobs www.theguardian.com

Lloyds Banking Group is cutting 665 jobs and closing 49 branches as it continues to cut costs in an attempt to complete its return to the private sector.
 
To cushion the blow of further branch closures, the bank – bailed out in 2008 – is launching a fleet of mobile vans intended to visit communities knocked by the disappearance of high street outlets.
 
But unions said the ongoing cuts to the 75,000-strong workforce risked having an impact on customers. The reductions are part of a three-year cost-cutting programme being implemented by the chief executive, António Horta-Osório, to cut 12,000 jobs and close 400 branches by the end of 2017.
 
So far, 9,435 job cuts have been announced and 261 branches earmarked for closure. About 45,000 roles had already gone when Lloyds rescued HBOS during the 2008 crisis.
 
Rob MacGregor, Unite union’s national officer, said: “It is alarming that Lloyds are continuing this programme of job cuts and branch closures. Unite have expressed to the bank that these ongoing cuts hurts our members and inevitably impacts customers.”
 
Lloyds, which also operates the Halifax and Bank of Scotland brands, has argued that branch closures are necessary as their use has fallen 15% year on year.
 
The key high street players – Lloyds, Barclays, HSBC, Royal Bank of Scotland and Santander – have closed 1,7000 branches in the past five years and more are expected. As a result, 1,500 communities have been left without a bank on their high street.
 
Lloyds said it would put eight mobile branches on the road between March and April next year. Its Bank of Scotland brand already has eight mobile branches in Scotland.
 
Other banks also have mobile branches, including Royal Bank of Scotland which said it had been operating in remote parts of Scotland for 70 years through its fleet which employs 80 people. As well as 22 RBS branches on the move, its NatWest arm in England and Wales has 15 mobile branches.
 
Lloyds said the decision to make cuts was difficult but they were needed because of “changing customer needs”. Compulsory redundancies would be a last resort. It said the number of jobs lost would be 520 as it was creating 145 new positions.
 
Branches were still important, the bank said. “As part of this, we have also announced today the introduction of a new mobile branch service for Lloyds bank to help ensure there is a continuity of branch banking services available in some of those areas affected by branch closures alongside other ways to access banking locally.”
 
Philip Hammond, the chancellor, has continued to sell off the government’s holding in Lloyds even though its shares have fallen below the 73.6p average price at which taxpayers bought a 43% stake during the 2008 crisis. Last month the taxpayer shareholding fell below 9%. Hammond is expected to get rid of the remaining holding in the next 12 months.
...


64x64

Oil prices recover after panicked speculators shorted on Trump win www.rt.com

Crude prices stopped falling after Wednesday morning’s sell-off, triggered by Donald Trump winning the US presidential election.
 
North Sea benchmark Brent was trading flat at $46.03 per barrel at noon GMT. US benchmark West Texas Intermediate slid 0.14 percent trading at $44.84 per barrel.
 
“This is deja vu of the Brexit moment, very worrying,” said Bob Takai, president at Sumitomo Corp Global Research in Tokyo, referring to the market bloodbath that took place on the day when the United Kingdom voted to leave the European Union on June 23.
 
“Speculators are in a panic mode… Fears that Donald Trump was going to win the election saw risk-sensitive assets drop faster than Hillary Clinton’s hopes of becoming the next US president overnight,” said Fawad Razaqzada, market analyst at Forex.com, quoted by Reuters.
 
“Trump’s victory is seen as a ‘shock,’ prompting (investors) to seek safe-haven assets and this has pushed oil prices down,” said Son Jae-hyun, Seoul-based analyst at Mirae Asset Daewoo. He added that Trump’s policy on energy and anti-Iran views could push prices in future.
 
Also on Wednesday, the American Petroleum Institute (API) showed US crude reserves growing by 4.4 million barrels, also dragging down oil prices.
 
Official storage data by the government’s US Energy Information Administration (EIA) is expected late on Wednesday.
 
Russian Deputy Energy Minister Kirill Molodtsov said the country may increase oil production to 555-560 million tonnes by 2020 to retain its market share of 12 percent.
...


64x64

The view from shell-shocked Silicon Valley www.bbc.com

If you can’t beat ‘em, leave ‘em.
Remarkably, that seemed to be the knee-jerk reaction of at least some of Silicon Valley’s elite in the wake of Donald Trump becoming president-elect on Tuesday.
"I am announcing and funding a legitimate campaign for California to become its own nation,” wrote Shervin Pishevar, a major investor in companies like Uber, AirBnB and Slack.
"I'm in and will partner with you on it,” replied Dave Morin, another major tech investor.
It’s been agreed, the new promised land should be called New California.
"It's the most patriotic thing we can do,” Mr Pishevar said.
The proposal - one that, let’s face it, is faintly ridiculous - represents peak panic in the wake of an election that has left much of Silicon Valley stunned and grasping for answers.
‘Open door'
There are two bubbles in this part of the world - one is about money, the other is about its world view.
On her disastrous night, Clinton got more votes in California than in any other part of the country. Here, the prospect of a Trump presidency wasn’t just unlikely, it was unthinkable.
Before the vote, openly supporting Mr Trump was seen by many as a crime worthy of losing your job.
When it emerged that Facebook board member and major investor Peter Thiel was donating more than $1m to the Trump campaign, many called for him to be sacked.
But just a few weeks on, Mr Thiel, a person who has made his vast fortune over long-term bets, proved to be the most astute man in the Valley once again.
“He has an awesomely difficult task, since it is long past time for us to face up to our country’s problems,” he said in a statement after Mr Trump’s win.
"We’re going to need all hands on deck.”
Coming to terms
Mr Thiel remains an outlier here. What we’ll likely see over the next few days is an industry and community slowly contemplating what life in Silicon Valley will mean under President Trump.
Chris Sacca, an early investor in Twitter, said technology companies should be open to the new leader.
"We in the tech community are willing to work with President-Elect Trump to help those Americans who need it most,” he tweeted.
"The door is open.
"Very few people were as vocal in their opposition to Donald Trump as I was. But sitting on our hands for four years is a bad option."
As I type, we’re yet to hear from the real key players: Apple, Facebook and Google.
Their message will be instrumental in setting the collective mood here.
Meanwhile, Twitter boss Jack Dorsey may be enjoying one silver lining: shares in the struggling network, still by far the best platform on a day like Tuesday, jumped 4% to its best pricing since October.
...


64x64

Coal mines, utilities ink long-term price deal www.chinadaily.com.cn

Move to help prevent violent fluctuations in market and maintain orderly trading
 
China's major coal producers and power groups have signed a long-term deal at a fixed price to ensure stable coal and power supplies in the country, in a bid to hammer out a strategy to halt the persistent rise in coal prices, said the nation's top economic regulator on Wednesday.
 
Two of the nation's top coal mines, Shenhua Energy Co and ChinaCoal Energy Co, have signed long-term supply contracts with utilities at 535 yuan ($79) per metric ton, 25 percent below the current spot market rates, as the government ramps up its efforts to cool the red-hot market.
 
The long-term deal will start on Dec 1, and will help prevent violent fluctuations in coal prices and maintain an orderly market, Xu Kunlin, deputy secretary-general of the National Development and Reform Commission, said at a briefing on Wednesday.
 
Zuo Qianming, an expert with China National Coal Association, said the price rise has to do with China's effort to cut overcapacity and regulate its coal sector.
 
"Despite the fact that thermal coal prices have hit a record in recent weeks after the government tried to tighten supplies for utilities, causing much concern in industry and among the public, it is still demand driven," said Zuo.
 
"However, as coal consumption declines year by year, the country should still stick to reducing overcapacity despite the recent drastic price rise."
 
The country's intensified effort to cut overcapacity had led to huge rises this year in the bulk commodity price, including thermal coal.
 
Despite government efforts since September to boost supply, the surge has yet to be eased and has drawn the scrutiny of the authorities.
 
According to Xu, there were no grounds for recent coal price increases in the country to be sustained, and prices might even drop after sporadic factors fade away and a periodic coal supply glut and price decline is likely to follow.
 
"Once the sporadic factors fade away, a periodic coal supply glut and a price decline will be high-probability events," he said.
 
"The recent coal price surge in China was irrational and unsustainable, and the prices would retreat as supplies increased with no basis for further rises in coal prices."
 
Xu added that the supply-demand situation in China's coal sector has not changed and has reached a balance due to controls on output.
 
"The country should firmly stick to the overcapacity reduction program despite the price hikes," he said.
 
"In the long term, with coal consumption capacity gradually declining, the coal market will hardly see any rapid increase, and with the new energy gradually replacing traditional energy such as coal, there will be barely any substantial growth capacity for the coal sector."
 
Zuo said the deal would also help avoid a big hike in residential power costs.
 
This is the first time that the NDRC has held a media briefing to discuss this year's historical coal price rally and concerns about tight supplies of the raw material used by utilities.
 
The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports, rose to 607 yuan per ton earlier, the 18th consecutive rise and about 63.6 percent up on the start of the year.
...


64x64

S&P affirms U.S. investment-grade ratings after presidential election www.reuters.com

Ratings agency Standard & Poor's affirmed the United States' investment-grade 'AA+/A-1+' rating on Wednesday, a day after the presidential election, while maintaining its stable outlook.
 
Donald Trump won the U.S. presidential election in a stunning upset, and will take office in January, with the Republicans maintaining majority control of the House of Representatives and the Senate.
 
"We assume the longstanding institutional strengths and robust checks and balances of the U.S. will support policy execution in a Trump administration, despite the president-elect's lack of experience in public office, which raises uncertainty on policy proposals,” the ratings agency said.
 
But S&P added that the United States' high general government debt and increased uncertainty over its trajectory constrain the ratings of the world's largest economy.
 
There is a risk of policy uncertainty and potential missteps given the untested nature of the incoming Trump administration. If these risks eventuate, there could be downward pressure on the rating, S&P said.
 
S&P said it would raise the rating if it saw evidence that efforts point to more proactive fiscal and public policies that result in a lower debt burden.
 
Fitch Ratings said on Wednesday that Trump's victory does not have near-term implications for the United States' AAA/stable rating.
 
The medium-term impact of president-elect Trump's economic and fiscal policies would be negative for U.S. sovereign creditworthiness if they were implemented in full, the ratings agency said. bit.ly/2fmgQ97
 
Moody's Investors Service said that Trump's victory will impact a range of companies operating in several different sectors.
...


64x64

Firm chairman sentenced to death for Tianjin fire www3.nhk.or.jp

A Chinese court has given the head of a logistic company a suspended death sentence in connection with a massive explosion in the port city of Tianjin last year.

173 people died or went missing in the blast and fire at a chemical warehouse in August of last year. The explosion destroyed factories and nearby condominiums.

China's state-run Xinhua news agency reported that a Tianjin court on Wednesday gave the company's chairman Yu Xuewei the sentence for illegal storage of dangerous substances at the warehouse and other charges. A suspended death sentence is usually commuted to life in prison after 2 years.

The court gave 23 other company officials jail sentences ranging up to life imprisonment. It also jailed 25 local government officials for bribe-taking and other charges.

China watchers say the harsh sentences appear to be aimed at showing tight discipline for ranking officials, as serious accidents have repeatedly occurred in China.

...


64x64

Visa fees will be paid in Mongolian Tugrik only www.gogo.mn

Prime Minister J.Erdenebat obliged affiliated ministries on several issues at the beginning of the cabinet meeting. 
Particularly, Prime Minister gave a concrete task to authorities of Oyu Tolgoi, Erdenes-Tavantolgoi, Energy Resource and local Tavantolgoi company when he was working in Umnugobi aimag during the weekend. In regards, he obliged affiliated ministries to establish a working group in charge of developing proposal on measures to be taken on Gashuunsuhait port, ensuring the implementation and monitoring. 
Moreover, he assigned Deputy Minister of Mongolia to provide winter preparation while he assigned Minister of Finance to study the possibility to freeze the increase in exchange rate and to develop affiliated draft law if needed. 
In addition, he engaged all foreign embassies, operating in Mongolia to receive their visa fees in national currency of Mongolia, the Tugrik (MNT).

...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook