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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China to overtake US nuclear capacity www.rt.com

The growth of China's nuclear power industry will make it the world's biggest in 15 years, the World Nuclear Association (WNA) said on Tuesday.
 
The country will overtake France to have the second-largest number of nuclear reactors by 2020, according to WNA director general Agneta Rising.
 
China’s push to develop nuclear energy comes from the need to improve air quality in its rapidly growing cities as well as reduce greenhouse gas emissions in line with international commitments. The country has one of the highest rates of air pollution related deaths in the world.
 
"For China, the air pollution is a major driver," Rising was cited by Reuters.
 
The WNA report showed that in Asia 134 operable reactors generated 400 terawatt hours of electricity last year, making up 16 percent of global nuclear generation. There are firm plans to increase that figure, with 39 reactors comprising 47.4 gigawatts (GW) currently under construction in Asia. Twenty of those are to be built in China.
 
Beijing has set a goal to generate 58 GW of nuclear energy by 2020. A gigawatt of power provides enough energy for about 700,000 homes.
 
By 2050, nuclear power generation in China is expected to exceed 350 GW, including about 400 new nuclear reactors at a cost of over a trillion dollars.
 
"There is history in the region, where you have high-skilled people with very good university education and they have been working on research reactors... so I think there is basis of knowledge," Rising said. "The big driver (in Asia) is to have electricity for people."
 
According to the report, there are plans for more than 50 reactors providing more than 50,000 MW in nine new countries in the region. Most of them plan to have their first nuclear reactors enter operation before 2030.
 
New reactor construction is mostly led by industrializing countries which have enjoyed high levels of economic growth with an accompanying increase in energy demand, the WNA said.
 
It added that four countries - China, Russia, India and South Korea - are expected to account for 70 percent of reactors commissioned through 2030.
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Tesla reports first quarterly profit for three years www.bbc.com

Electric car maker Tesla has reported net income of $21.9m (£17.9m) for the third quarter after 13 consecutive quarterly losses.
This compared with a loss of $230m a year earlier.
Record deliveries helped to offset rising expenses for next year's roll-out of the company's mass-market Model 3 saloon car.
Tesla delivered a record 24,821 cars during the quarter, more than 300 more than estimated.
Shares in the electric car maker jumped 3.76% in after-hours trading.
"The Tesla third quarter results reflect strong company-wide execution in many areas," said chief executive Elon Musk and chief financial officer Jason Wheeler in a statement.
"We set new records for vehicle production, deliveries and revenue."
Tesla, which went public in 2010, had not made a net quarterly profit since the first quarter of 2013.
In the previous two quarters it had missed production targets.
The firm is counting on the Model 3 to help it meet its 2018 goal of producing 500,000 cars annually.
The Model 3 is Tesla's attempt to widen its market appeal with a more affordable car. Its starting price is expected to be $35,000.
In its third quarter results Tesla did not provide an update on its planned $2.6bn acquisition of solar panel maker SolarCity.
Mr Musk, who is SolarCity's chairman and main shareholder, has said he plans to provide more financial details on the deal on 1 November before a vote by shareholders of both companies on 17 November.
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Apple steps into void from Samsung debacle www.asia.nikkei.com

PALO ALTO, U.S. -- Apple is confident of revenue growth thanks to the inferno surrounding Samsung Electronics' discontinued smartphone.

The U.S. tech giant on Tuesday turned in a 9% year-on-year slide in net sales for fiscal 2016's final quarter ended in September. Apple marked a third straight quarterly drop and its first annual revenue decline in 15 years. However, the company forecasts sales to rise as much as roughly 3% for the current October-December period.

"Fiscal 2016 saw more customers switch from Android to iPhone than ever before," Apple CEO Tim Cook said during Tuesday's conference call. "Demand continues to outstrip supply" for the newly released iPhone 7 models.

Sales had suffered amid criticisms that Apple's latest smartphones lack innovation. Then South Korean rival Samsung was forced to contend with the defects in the Galaxy Note 7, which have caused even replacement phones to catch fire. Samsung permanently ended production and sales of the device this month. Taiwan's KGI Securities, a noted Apple watcher, predicts over 5 million current or potential Note 7 customers will purchase iPhones instead. That scale would be equivalent to over 10% of unit sales during the July-September quarter.

In America, where Chinese makers of downmarket smartphones have marginal share, Apple and Samsung effectively hold a duopoly in the high-end device market. In many cases, an iPhone would be the first choice to replace old Samsung phones absent available updated versions, analysts say. To keep its remaining customers, Samsung is offering Note 7 owners a trade-in program to get next year's new version for half the price.

Meanwhile, Apple is further innovating smartphone quality control and internal designs -- areas that typically do not grab headlines but contribute to device functionality. The aim is to increase market share by ensuring quality.

The first wireless chip designed by Apple powering the iPhone 7's Wi-Fi earphones is one result of that push. Apple also is standardizing core components and decentralizing suppliers. Apple hired Intel to make communications chips for the iPhone 7 along with fellow American chipmaker Qualcomm, which had been the lone procurement source for five years.

 
 
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Cabinet focuses on economic transparency law observance www.mongolia.gogo.mn

At the regular meeting of the Cabinet, held on Wednesday, the Minister of Finance, B.Choijilsuren reported about the course of the implementation of the Law on Glass Account (Economic Transparency).
The related line ministers and budget managers were assigned to organize internal audits on the enforcement of the Glass Account Law, make sure its observance in due way, and to impose corresponding responsibilities on the officials, who have failed to do.
Chairman of the State Property Policy and Adjustment Department Ts.Nyam-Osor was tasked to improve monitoring of the law implementation.
The cabinet directed the heads of all levels of budget organizations the Glass Account Law applies to, to keep updating their information on their websites.
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Japan's tax agency to focus on offshore trades www3.nhk.or.jp

Tax authorities in Japan have announced on their website tightened surveillance measures for offshore investment and trade by the country's wealthy and firms.
 
Tax evasion has been a hot topic since a massive leak this year of financial documents known as the Panama Papers.
 
Officials at Japan's National Tax Agency want to ensure that wealthy people and multinational corporations with assets overseas pay their fair share in taxes.
 
The agency is studying documents required for individuals with such assets worth more than 50 million yen, or over 480,000 dollars.
 
Agency officials say they'll launch a system by September 2018 to automatically exchange information on financial accounts with tax authorities in over 100 nations. The effort would be based on international rules.
 
They also say that starting next July, they will expand a nationwide network of project teams specializing in taxing the wealthy.
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China's Weibo to help microbloggers build their brands www.chinadaily.com.cn

BEIJING - China's microblogging site Weibo plans to build a one-stop system to help some of its most-followed users turn their online influence into money, the company's CEO said Tuesday.
 
Weibo, the largest domestic microblogging platform, will help users define their brand focus, attract and accumulate followers and cash in on their popularity through advertisements, pay-per-read posts and other marketing tools, Weibo CEO Wang Gaofei told the ongoing 2016 V-Influence Summit on the country's growing new media platforms and fan economy.
 
Microbloggers have raked in 11.7 billion yuan ($1.73 billion) via Weibo's current services. Promotions that link to online shopping generated the highest earnings, 10.8 billion yuan in total, for users, followed by pay-per-read posts and brand promotions at 470 million and 430 million yuan, respectively.
 
Weibo has around 340,000 microbloggers deemed "influential," meaning those whose articles or posts are read by at least 100,000 people each month, up 34 percent year on year, while those with 10 million monthly readers saw a 70 percent increase year on year.
 
The company has earmarked 100 million yuan to support the promotion of influential microbloggers; 500 million yuan in short-length video promotion; and has plans to release a live voice streaming service next year, according to Wang.
 
Weibo has partnered with over 300 multi-channel networks (MCN) to help microbloggers grow their brands with programming, funding, cross-promotion, audience development and other services, Wang added.
 
The NASDAQ-listed company overtook its U.S. counterpart Twitter in market capitalization for the first time during trading earlier this month thanks to its strong revenue and user growth. The company is expected to release its third quarter financial performance in late November.
 
Weibo had 282 million active monthly users by the end of the second quarter of this year and aims to have 500 million within three years, according to Wang.
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Mehmet Erdogan: Mongolia and Turkey should strive for strategic partnership www.en.montsame.mn

Ulaanbaatar /MONTSAME/ T.Ayursaikhan MP, the head of the parliamentary group of Mongolia-Turkey Friendship, received today a Turkish parliamentary delegation led by Mr Mehmet Erdogan, the head of the Turkey-Mongolia Friendship Group in the Grand National Assembly of Turkey. Mr Ayursaikhan underlined an importance of inter-parliamentary interactions between Mongolia and Turkey.
 
“Our countries are both democratic states with parliamentary systems. Turkey is recognized as Mongolia’s “third neighbor”, noted the MP and expressed his satisfaction with the recent achievements made in the bilateral relation in the context of the comprehensive partnership.
 
Mr Erdogan thanked Mr Ayursaikhan for the hospitality and said he is pleased to have his third visit to Mongolia - a brother nation for Turkey. “It is important to consolidate our ties to make up the geographical distance. Therefore, the weekly direct flights contributes greatly to boosting bilateral ties. The latter has been witnessing even more dynamic growth over the last 26 years, when more than a hundred cooperation documents have been signed by the two sides. We should strive to upgrade the relations to the level of strategic partnership”, he said.
 
The dignitaries touched upon issues concerning bilateral trade, economy, agriculture and cooperation in light industry, as well as the student exchange.
 
Present were also, the members of parliamentary friendship group N.Enkhbold, G.Soltan and B.Undarmaa MPs, members of the Turkey-Mongolia Friendship Group in the Grand National Assembly of the Republic of Turkey, and Ambassador of Turkey Murat Karagoz.
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Coca Cola and Kirin consider business tie-up www3.nhk.or.jp

Fierce competition in Japan's soft drink market has made the Coca Cola group and Kirin Holdings consider a business tie-up.
 
The Coca Cola group is the Japanese soft drink leader while Kirin ranks 4th in the market.
 
An industrial source says the 2 firms are considering a joint delivery of products and a joint procurement of ingredients, containers and other materials.
 
It says the operations team-up could develop into a capital alliance in the future.
 
The 2 beverage makers are apparently hoping to cut down costs and improve their earning capacity through the deal.
 
Japan's soft drink market has been shrinking with little growth potential seen in the nation's decreasing population.
 
The planned alliance between the largest and the 4th-ranked firms is likely to affect other makers' business strategy. This could touch off another consolidation in the industry.
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Amazon beefs up Paris express delivery service with partnerships www.reuters.com

Online retailer Amazon said on Wednesday it was partnering with luxury food group Fauchon, organic food chain Bio c'Bon and wine retailer Lavinia to extend the product range of its Prime Now express delivery service in Paris and its suburbs.
 
The deal, which will add 5,000 food products to Amazon Prime Now's range of 18,000 products in Paris, comes as French retailer Carrefour started testing its own express delivery service named Livraison Express this month in several Paris stores as it seeks to counter Amazon Prime Now.
 
Seattle-based Amazon has been stepping up its activity in France in recent years and speed delivery has become a new battleground among retailers seeking to boost sales.
 
Amazon Prime Now was launched in Paris in June 2016. Its members pay a yearly subscription of 49 euros to get products delivered within one-hour for 5.90 euros or for free within two hours if they order a minimum of 20 euros worth of products.
 
The deals with Bio c'Bon and Lavinia are effective immediately, while Fauchon will join Prime Now in November, Amazon said in a statement.
 
Thanks to these partnerships, customers will be able to buy a wider selection of products, including fresh fruits and vegetables, meat, wine, spirits and fresh deli products.
 
Frederic Duval, General Manager of Amazon.fr, told Reuters by phone that the four-month old Amazon Prime Now service had already met "very strong demand" in Paris and was fully on track with the volumes targeted. It was however too early to say if Amazon would replicate the service to other big French cities.
 
On Oct. 19 Carrefour - France's largest retailer - started a trial delivery of groceries and fresh food within one hour for 4.90 euros in half of the Paris arrondissements. The goal is to extend the trial to all of Paris in coming weeks. Orders are prepared in Carrefour Paris stores and delivered by bike.
 
Prime Now was first launched in New York City in December 2014. Since then it has expanded to several other major U.S cities, as well as European cities such as London, Berlin, Milan, and Madrid.
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U.S. judge approves $14.7 billion deal in VW diesel scandal www.reuters.com

A U.S. judge on Tuesday approved one of the biggest corporate settlements on record, Volkswagen AG's (VOWG_p.DE) $14.7 billion deal arising from its diesel emissions cheating scandal, and the German automaker said it would begin buying back polluting cars in mid-November.
 
U.S. District Judge Charles Breyer in San Francisco signed off on VW's settlement with federal and California regulators and the owners of the 475,000 polluting diesel vehicles in a pivotal moment for the world's No. 2 automaker as it tries to move past a scandal that has engulfed it for more than a year.
 
VW admitted in September 2015 to installing secret software in its diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing than they really were. In reality, the vehicles emitted up to 40 times the legally allowable pollution levels.
 
Volkswagen CEO Matthias Mueller told reporters in Berlin that Breyer's approval was "an important milestone for us on the way towards clearing up the problem that we caused some time ago." Hinrich Woebcken, president and CEO of Volkswagen Group of America, pledged to carry out the terms "as seamlessly as possible."
 
Breyer turned away objections from car owners who thought the settlement did not provide enough money, saying it "adequately and fairly compensates" them. Owners will get the pre-scandal "trade in" value of the vehicle and $5,100 to $10,000 in additional compensation.
 
"Given the risks of prolonged litigation, the immediate settlement of this matter is far preferable," Breyer wrote.
 
Volkswagen agreed to spend up to $10.033 billion on the buybacks and owner compensation and $4.7 billion on programs to offset excess emissions and boost clean-vehicle projects.
 
The settlement was reached with the U.S. Justice Department, Federal Trade Commission, the state of California and vehicle owners who had filed a class action lawsuit against VW. Volkswagen has admitted to misleading regulators and still faces an ongoing criminal investigation.
 
It represented the largest civil settlement worldwide ever reached with an automaker accused of misconduct.
 
While huge, the approved deal was still smaller than the $246 billion settlement reached by cigarette makers with 46 U.S. states in 1998 and the $53 billion by BP to address costs and penalties arising from the 2010 Gulf of Mexico oil spill.
 
In total, Volkswagen has agreed to date to spend up to $16.5 billion in connection with the scandal, including payments to dealers, states and attorneys for owners. The scandal rattled VW's global business, harmed its reputation and prompted the ouster of its CEO.
 
The settlement covers 2.0-liter polluting diesel Beetle, Golf, Jetta, Passat and Audi A3 cars from the 2009 through 2015 model years. Up to 490,000 people will take part in the settlement because some vehicles had multiple owners.
 
Volkswagen spokeswoman Jeannine Ginivan said the automaker expects to begin buying back vehicles in mid-November. VW has hired 900 people, including one to be stationed at each dealership, to handle buybacks.
 
MORE COSTS FOR AUTOMAKER
 
VW still faces billions more in costs to address 85,000 polluting 3.0-liter vehicles and Justice Department fines for violating clean air laws. It also faces lawsuits from at least 16 U.S. states for additional claims that could hike the company's overall costs.
 
Last month, a Volkswagen engineer pleaded guilty in Detroit to helping the company evade U.S. emission standards. His lawyer said he would cooperate with federal authorities in their criminal probe.
 
Kathryn Phillips, California director for the Sierra Club environmental group, said Volkswagen broke the law and that "Judge Breyer is making them pay the price. Volkswagen chose to poison our families with dangerous pollution just to pad its pocketbook."
 
"Today is a landmark day, when this innovative settlement can be put into action, investing billions of dollars into public health protections to remedy these serious violations," added Cynthia Giles, U.S. Environmental Protection Agency assistant administrator.
 
VW will provide $2 billion over 10 years to fund programs to promote electric vehicle charging infrastructure, development of zero-emission ride-sharing fleets and other efforts to boost sales of cars that do not burn petroleum.
 
Volkswagen has been in intensive talks over how much compensation it may offer owners of the larger 3.0-liter diesel Porsche, Audi and Volkswagen vehicles that emit up to nine times legally allowable emissions and whether it will offer buybacks for some of the polluting SUVs. No final agreement has been reached. Volkswagen faces a Nov. 3 court hearing to update the court on those vehicles' status.
 
Volkswagen agreed to make up to $1.21 billion in payments to 652 U.S. VW brand dealers and $600 million to 44 U.S. states to address some state claims.
 
Nearly 340,000 owners have registered to take part in the settlement. About 3,500 owners have opted out. Volkswagen must fix or buy back 85 percent of the 475,000 vehicles under the agreement by June 2019 or face additional costs.
 
Owners have until September 2018 to submit paperwork to sell back vehicles. VW will have to destroy repurchased vehicles unless it wins approval for fixes.
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