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

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Iron ore price explodes higher www.mining.com

The import price of 62% Fe content ore at the port of Tianjin soared nearly 5% to $61.60 per dry metric tonne on Tuesday according to data supplied by The Steel Index as top producers cut output guidance and demand from top consumer China rebounds.
 
That was the highest level for the Chinese benchmark price in over two months. Futures trading on the Dalian Commodities Exchange indicated further appreciation ahead with the most active contract reaching its daily up limit of 6% for a new 2016 high of 471.50 yuan or $70.10.
 
A note from Freight Investor Service described "massive movement" on the Dalian exchange with the rally starting last night and continuing into Tuesday as the contract broke through previous resistance levels of the highs from April and August this year.
 
Against most predictions, year to date the price of the steelmaking raw material is up 43.6% after surging by two-thirds in value from near-decade lows in December last year.
 
China, which consumes more than 70% of the world's seaborne iron ore trade, imported 93 million tonnes in September, only slightly below the record 96.3 million tonnes hit in December last year. Shipments for the first nine months are up more than 9% from 2015's record setting pace and on track to breach 1 billion tonnes for the first time.
 
Last week top iron ore miner Vale reduced its production outlook for 2017 to 360m–380m tonnes, below its original forecast for 380m–400m tonnes. The Rio de Janeiro-based giant said 2016 production would be at the lower end of a range of 340m–350m tonnes.
 
Number two producer Rio Tinto also cut its outlook for this year's shipment by as much as 5 million tonnes, hampered by logistics bottlenecks at its Pilbara operations in Western Australia. The Melbourne-based company expects to ship around 325m tonnes this year, rising slightly to between 330m – 340m tonnes in 2017.
 
Metallurgical coal's rise this year has been even more dramatic than that of iron ore and trading at $245.50 a tonne on Tuesday, the steelmaking raw material is up 25% so far in October. According to data provided by the Steel Index premium Australia hard coking coal prices are up more than three-fold since hitting multi-year lows around $70 a tonne in November last year.
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Australia's richest woman invests £245m in UK's biggest potash mine www.theguardian.com

Australia’s richest woman, Gina Rinehart, has invested £245m in the UK’s biggest potash mine on the edge of the North York Moors national park.
 
The £1.7bn mine, which was given the go-ahead last year after a protracted planning battle, has promised to restore the region’s proud mining heritage and bring more than 1,000 jobs.
 
The project received a major boost on Tuesday when Sirius Minerals, the company behind the Yorkshire mine, announced a US$300m (£245m) deal with Rinehart’s Australian agricultural firm Hancock Prospecting.
 
The mine, which sits on protected moorland overlooking Whitby and Robin Hood’s Bay, aims to produce up to 20m tonnes a year of a potassium-rich mineral called polyhalite, a type of potash fertiliser described by Sirius as a “fertiliser of the future”.
 
Under the deal Rinehart will purchase $50m of Sirius shares and pay $250m for a 5% royalty stream on the first 13m tonnes of fertiliser produced by the mine annually, and the right to purchase up to 20,000 tonnes of product each year for use on her expanding Australian agricultural holdings.
 
Rinehart said: “This project delivers a new and natural product that is relevant to Hancock’s focus on agriculture, and after years of field tests and across many crop types, demonstrated improved yields.
 
“Sirius has a large, high-quality mineral resource and is located in a stable jurisdiction with a competitive tax rate. The project has the potential to become one of the world’s leading producers of multi-nutrient fertiliser and could have a life of 100 years – this fits with my approach of investing in strategic areas for the long term.”
 
The mile-deep mine shaft was narrowly approved in June 2015, by eight votes to seven, after a protracted four-year planning wrangle that drew opposition from conservationists.
 
The project was supported by 93% of local people who wrote to the council, 81% of whom live in the national park.
 
But it was opposed by groups including the National Trust, Natural England, the Campaign for National Parks, the North Yorkshire Moors Association, the Royal Society for the Protection of Birds, the Campaign to Protect Rural England and the Yorkshire Wildlife Trust.
 
Sirius estimates that the mine will increase North Yorkshire’s economy by 10%, with £48m injected directly into the stagnant local area, which has never fully recovered from the loss of coalmining and fishing industries.
 
All mined polyhalite will be transported underground on a 23-mile conveyor belt running underneath the North York Moors national park to a handling facility in Teesside.
 
Chris Fraser, the managing director and chief executive of Sirius, said: “We are delighted to have signed this agreement with such an experienced party in the mining industry, as well as one that has very successful and strong leadership, and a long-term and growing agricultural interest.”
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Apple iPhone sales fall, but beat estimates www.bbc.com

Apple has reported its third quarter in a row of falling iPhone sales and revenue, but sales beat analyst expectations.
The tech giant sold 45.51 million iPhones in the three months to 24 September, beating an average estimate of 44.8 million.
The company also forecast higher-than-expected holiday season revenue of between $76bn and $78bn.
But revenue in the fourth quarter fell 9% to $46.85bn.
That meant annual revenue fell for the first time since 2001, highlighting a slowdown in the smartphone market as well as intensifying competition, particularly from Chinese rivals.
Apple executives said demand for the new iPhone 7 was strong, despite fiscal fourth-quarter revenue falls in China and the Americas, its two most important markets.
Revenue from Greater China, once seen as Apple's next growth hope, fell 30% in the quarter, after dropping 33% in the previous quarter.
In the same period last year, revenue from Greater China doubled.
Apple's shares were down 3% at about $114.80 in after-hours trading.
"Apple didn't have a great [fourth quarter] as iPhones, Macs, China, the US and what appears to be Watch were down," said Patrick Moorhead, an analyst at Moor Insights & Strategy.
Net income fell to $9.01bn in the fourth quarter, down from $11bn in the same quarter last year.
For the year, net income fell to $45.7bn from $53.4bn.
Chief Financial Officer Luca Maestri said it was "impossible to know" if there was any effect yet from rival Samsung halting production of Galaxy Note 7 phones earlier this month.
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Failure to sign trade deal with Europe may leave Canada stranded www.rt.com

The collapse of a free trade agreement with the European Union could undermine Canada's plans to reduce its economic dependence on the United States. Seventy-five percent of Canadian exports go to the US.
 
The failure of the Comprehensive Economic and Trade Agreement (CETA) could also complicate talks on other trade pacts with India and China.
 
CETA would allow Canada preferential access to the European market of over 500 million people. The deal could also add over $8.9 billion in revenue to the country's economy and increase trade by 20 percent, a joint Canada-EU study estimated.
 
The deal with the EU has potentially wider scope than the North American Free Trade Agreement (NAFTA). Canadian dependence on the US market has put the NAFTA deal under pressure.
 
"We are one of the most dependent countries in the world in regards to trade," said former Quebec Premier Jean Charest, who started negotiations on the EU-Canada trade deal during his tenure.
 
"If this agreement [CETA – Ed.] fails, it will be a disappointment," he told Reuters last week.
 
CETA was expected to eliminate tariffs on 98 percent of goods traded between the EU and Canada. The deal was blocked by Belgium because of the opposition from regional parliaments. Belgium’s French-speaking region of Wallonia has refused to approve the deal, fearing an influx of Canadian pork and beef products would undermine local farmers.
 
EU trade treaties can only enacted with the unanimous agreement of all 28 member states.
 
After a 24-hour ultimatum from the EU to patch up differences over CETA, Belgium’s Prime Minister Charles Michel said on Monday the country was not ready to sign the pact.
 
Despite that Canada’s Prime Minister, Justin Trudeau, did not immediately postpone a trip to Brussels this Thursday for an EU-Canada summit where the treaty was expected to be signed.
 
“We encourage all parties to find a solution. There’s yet time,” the head of the European Council Donald Tusk tweeted after speaking to the Canadian leader.
 
The EU and Canada have spent more than seven years negotiating the pact. The talks have been followed by protests in Europe with the opposition claiming the deal will violate workers' rights and benefit the interests of the wealthy elite and corporations.
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Caterpillar rally hindered by fresh drop in sales www.mining.com

Shares in world’s largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, suffered Monday morning after the firm logged a 18% drop in global retail sales of equipment for the three-month period ended in September.
 
While the Peoria, Illinois-based company has had more discussions about potential sales in recent months than in the last two or three years, it looks like those talks have once again failed to materialize. Currently, only the Asia-Pacific region is growing, the company said on Monday.
 
Total retail sales to resource companies dropped 37% in the quarter when compared to the same period last year. Yet the results are slightly better than a 39% decrease registered from April to June.
 
Global sales by CAT’s energy and transportation division fell 25%, the same as in August, including respective declines of 44%, 26% and 15% in transportation, power generation, and oil and gas products. The situation is problematic as energy and transportation is Caterpillar’s largest segment, accounting for 36% of its total revenue.
 
In light of the numbers, the giant construction and mining equipment manufacturer is now is expected to forecast a fifth straight annual sales decline in 2017 Tuesday, when it reports quarterly earnings, according to Bloomberg.
 
Caterpillar’s performance is often seen as a gauge of the health of the global economy, as its machines are huge, expensive, and used in different kinds of projects to which companies and governments are only likely to commit if they're confident in the economic outlook and their financial standing.
 
CAT’s shares were slightly down (-0.45%) at 10:56 am to $85.95. Year to date they’ve gained almost 27%.
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China's HNA Group buys $6.5 billion stake in Hilton, extends hotels push www.reuters.com

China's aviation and shipping giant HNA Group extended its push into hotels and Chinese tourism on Monday, paying $6.5 billion to buy a 25 percent stake in Hilton Worldwide Holdings Inc (HLT.N) from biggest shareholder Blackstone Group LP (BX.N).
 
The deal marking the second investment in the hotel industry this year by ambitious and fast-growing HNA, now the operator of more than a dozen airlines including flagship carrier Hainan Airlines Co (600221.SS) and a group with more than $100 billion in assets. In April HNA bought Carlson Hotels Inc, owner of Radisson hotels, for an undisclosed sum.
 
It also comes as Chinese companies step up hotel deals to tap free-spending mainland China tourists, now traveling overseas in record numbers. Their spending at home and abroad is expected to hit $72 billion this year, according to China Travel Academy, a government-backed research institute.
 
Chinese companies have also been splurging on foreign acquisitions to sidestep slowing growth at home. The HNA deal would take China's overseas M&A to a record $191 billion so far this year, more than 70 percent of 2015's tally.
 
HNA agreed to buy its shares in Hilton for $26.25 each, a 14.6 percent premium to Hilton's Friday's closing price, valuing the whole of Hilton at about $26 billion. Blackstone took Hilton private in 2007 for $26.7 billion, including debt, and the private equity firm listed the company in 2013 in the biggest-ever hotel IPO.
 
Shares in Hilton, whose brands include Conrad Hotels & Resorts, Curio and Double Tree as well as Hilton, ended flat in New York on Monday after rising as much as 3.7 percent to $23.76 in early trading on news of HNA's stake buy.
 
Established in 1993, HNA has emerged under the stewardship of co-founder and chairman Chen Feng as one of China's most acquisitive overseas dealmakers, having announced about $20 billion of deals this year alone, according to Reuters calculations.
 
As well as buying aviation assets, HNA has been investing in other travel-related businesses, including Swiss airline catering firm Gategroup Holdings (GATE.S), and U.S.-listed electronics distributor Ingram Micro (IM.N). It now controls 11 companies listed on mainland China and Hong Kong stock markets.
 
Earlier this month HNA's Avolon Holdings agreed to buy CIT Group (CIT.N) aircraft leasing assets worth $10 billion, a deal that will create the world's third-largest lessor.
 
In hotel deals, however, it hasn't all been plain sailing for would-be Chinese buyers.
 
In April, Chinese insurer Anbang Insurance Group Co [ANBANG.UL], owner of the iconic Waldorf Astoria in New York, abandoned its pursuit of Starwood Hotels & Resorts Worldwide following a bidding war with Marriott International Inc (MAR.O). Marriott completed the acquisition of Starwood in September to create the world's biggest hotel chain.
 
Meanwhile HNA's latest deal will see it appoint two directors to Hilton's board, raising its size to 10. It will also give HNA a stake of about 25 percent in Hilton's real estate and timeshare businesses, following their expected separation by the end of 2016.
 
Blackstone will continue to have two seats on Hilton's board, including Jonathan Gray who will remain as chairman.
 
Evercore was the financial adviser to Hilton, while JPMorgan advised HNA.
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Huawei earns Europe's trust with excellence in high-tech www.chinadaily.com.cn

"This is the guts of the business, this is what we do," our guide said, patting a large green, hardware-filled street cabinet sitting in the bowels of Huawei Technologies Co's UK headquarters in Reading.
 
To the average Briton, Huawei is best known as a smartphone manufacturer. Its basic models could be an alternative to pricey market leaders. Some are aware of the TV commercial for its higher end P9 featuring movie stars Scarlett Johansson and Henry Cavill.
 
But most would be unaware that Huawei plays a key role in the "last mile" technology that delivers superfast broadband from the pavement to some 20 million homes across the United Kingdom.
 
"This is where it all begins, the kit that weathers rain or shine... If this doesn't work, nothing else does."
 
Reliable equipment and thrust on innovation have helped Huawei to emerge as the world's biggest telecommunication equipment manufacturer, after starting as a private reseller of PBX switches in China in 1987.
 
Founded by Ren Zhengfei with an investment of $3,500, Huawei's revenue reached $60.8 billion in 2015. It's the only Chinese company in the Fortune 500 list to make more money abroad than domestically.
 
The company said it will likely meet its sales target of 140 million handsets this year, driven by over 50 percent year-on-year growth in western and northeastern Europe, two of its fast-growing markets.
 
Huawei is also the world's third-largest smartphone vendor after Samsung Electronics Co Ltd and Apple Inc. The gap between Apple and Huawei is narrowing.
 
Huawei's market share was 8.2 percent in the first quarter of this year, up from 5.2 percent last year, while Apple fell to 15.3 percent from 18.3 percent, with Samsung remaining at around 24 percent, market research firm International Data Corporation reported in July.
 
Both Apple and Huawei are likely to benefit from Samsung's ill-fated Galaxy Note 7.
 
Analysts attributed Huawei's success to its unique management and ownership structure. Huawei is a 98.6 percent employee-owned private entity run by rotating CEOs. Emphasis is on research, which received $38 billion over the last 10 years and 45 percent of its 176,000 employees worldwide.
 
According to Roland Montagne, head of broadband practice at European telecoms think tank IDATE, making inroads into Europe is at the heart of Huawei's global rise.
 
"Huawei decided to invest quite early in the European market because it's a center of expertise in terms of technology and it is a dynamic market," he said. "That's why they decided to collaborate quite quickly with the main players in Europe－BT, Orange, Telefonica, to mention a few."
 
After setting up its first UK offices in 2003, Huawei clinched a game-changing supplier deal with British Telecom in 2005, to roll out the latter's 21st Century Network data network program.
 
"At the time, very little was known about (Huawei) outside of Asia, it didn't really sell very much in Europe," said Mike Galvin, head of technology, services and operations at BT. "We compared Huawei's with others' equipment ... and we said this equipment meets our needs. It was well-made."
 
Galvin said Huawei scored in terms of security of supply and ethical practices. He attributed much of its success to customer centricity.
 
"The unique thing ... (about) Huawei ... is how close they are to their customers and how their customers drive what products they produce."
 
Stefano Cantarelli, chief technology officer and network vice-president for UK and Ireland at Huawei, said gaining BT's trust opened the doors to other major deals in the UK and Europe. Carriers Vodafone and EE went on to buy Huawei equipment for their telecom networks. Huawei teamed up with EE later to launch the UK's first 4G LTE (long term evolution) network.
 
The BT deal signified the opening up of the traditional, R&D-driven European operator market to Chinese vendors, Cantarelli said. "They (BT) have been fundamental in establishing trust, and we were able to get the second-biggest deal we got with Vodafone. It has been pivotal in creating a brand reputation."
 
According to Montagne, maintaining such trust is imperative for Huawei as the new frontier of all-cloud transformation and cloud-based strategies offer a fresh set of complex security challenges.
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JR Kyushu IPO opens at 3,100 yen www3.nhk.or.jp

Kyushu Railway, or JR Kyushu, has debuted on the Tokyo Stock Exchange, fetching more than its initial offering price.
 
About 30 minutes into Tokyo trading on Tuesday, the share price opened at 3,100 yen. Its initial offering price was 2,600 yen.
 
JR Kyushu's total market value could exceed 400 billion yen, or 3.8 billion dollars. It is likely to be Japan's 2nd largest IPO of the year, following the messaging app provider, LINE, which made its debut in July.
 
JR Kyushu was founded in 1987 when the government privatized the former Japanese National Railways and divided it into regional companies.
 
Most of its train lines are operating in the red.
 
JR Kyushu is trying to create new services to attract tourists. The company is also getting involved in real estate development with station buildings and condominiums.
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Russia & Saudi Arabia agree to stabilize oil market – minister www.rt.com

Moscow and Riyadh have found common ground on a possible agreement with OPEC and a plan to stabilize oil prices after a meeting in the Saudi capital.
 
Russian Energy Minister Alexander Novak met with representatives of Saudi Arabia and other major regional oil producers at the Gulf Cooperation Council (GCC) conference in Riyadh on Sunday. They discussed possible means to stabilize the slumping oil prices, and the parties appeared to come to an agreement.
 
“We discussed questions related to freezing oil production in Russia and other countries that may join in,” Novak wrote on Twitter. “But it’s too early to call specific figures. We still have time until November 30, when OPEC is planning to develop a joint solution.”
 
Novak’s Saudi counterparts also appeared optimistic.
 
“Saudi Arabia has started to play an important role to coordinate between Russia ... and OPEC, specifically the Gulf countries,” Saudi Arabian Energy Minister Khalid al-Falih said at a press conference quoted by Reuters. “We have managed today... through a common meeting to reach a common notion to what we can reach in November.”
 
“Russia is one of the world's biggest oil producers... and is one of the influential parties in the stability of the oil market,” Falih said at the start of the GCC conference.
 
OPEC, or the Organization of Petroleum Exporting Countries, is due to meet on November 30 in Vienna, where it will discuss reducing production to help drive up the price of oil, or at least keep it stable. The fall in oil prices has discouraged investment in the industry and had a negative effect on the global economy, including the Russian economy. At an earlier conference in Algiers, OPEC set a goal of cutting production to 32.5-33 million barrels per day, though the specifics have yet to be ironed out. By getting non-OPEC members on board, the cartel hopes to make their scheme more effective.
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Construction of solar power plant underway in Khongor www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Being carrid out by Solar Power International LLC, the project is going on construction and fabrication phase, which commenced on July 27 of 2016. The project accomplishment is 65 percent.
 
A total of 32,274 solar panels of SHARP have been installed in 289,667 squaremetres of area in Khongor soum of Darkhan-Uul aimag (210 km from Ulaanbaatar). Moreover, a building for SMA Inverter has been built along with the overhead grids to connect the plant to the substation with installed capacity of 110/ KW.
 
The commissioning of the plant is expected on December 15, 2016, reports the Ministry of Energy in the light of the Government’s First 100 Days Framework.
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