1 MONGOLIA DRAGGED ITS WILD HORSES BACK FROM EXTINCTION – CAN IT SAVE THE REST OF ITS WILDLIFE? WWW.THEGUARDIAN.COM PUBLISHED:2024/01/13      2 FOUR KILLED BY HEAVY SNOW IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2024/01/13      3 CHINA-MADE BUSES TO HIT THE ROAD IN MONGOLIA'S CAPITAL WWW.XINHUANET.COM PUBLISHED:2024/01/13      4 MONGOLIA'S GDP EXPECTED TO GROW BY 6.2% IN 2024 - WORLD BANK WWW.AKIPRESS.COM PUBLISHED:2024/01/13      5 CHINA'S IMPORTS OF MONGOLIAN COAL SET TO RISE AS TRANSPORT IMPROVES WWW.REUTERS.COM PUBLISHED:2024/01/13      6 RUSSIA BOOSTS FUEL EXPORTS TO CENTRAL ASIA, AFGHANISTAN AND MONGOLIA IN 2023 WWW.REUTERS.COM PUBLISHED:2024/01/13      7 MONGOLIA'S INFLATION DOWN TO 7.9 PCT WWW.XINHUANET.COM PUBLISHED:2024/01/11      8 PRESIDENT OF MONGOLIA INVITED HEADS OF STATE OF TWO NEIGHBORING COUNTRIES WWW.GOGO.MN PUBLISHED:2024/01/11      9 63.2 PERCENT OF MILK AND DAIRY PRODUCTS DOMESTICALLY SOURCED WWW.MONTSAME.MN PUBLISHED:2024/01/11      10 ELECTRIC VEHICLE CHARGING STATIONS TO BE BUILT AT 25 LOCATIONS IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/01/11      ИНФЛЯЦЫН ТҮВШИН 7.9 ХУВЬТАЙ ГАРЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/01/14     АЮУЛТ ҮЗЭГДЭЛ, ОСЛЫН ТОХИОЛДОЛ ӨМНӨХ ОНООС 4.3 ХУВИАР ӨСЖЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2024/01/14     ОЛОН УЛСЫН ЗАХ ЗЭЭЛЭЭС 225 САЯ АМ.ДОЛЛАРЫН БОНДЫГ АМЖИЛТТАЙ АРИЛЖААЛЛАА WWW.IKON.MN  НИЙТЭЛСЭН:2024/01/14     "МОНГОЛЫН ХӨРӨНГИЙН БИРЖ" ХК НЭГ ЖИЛИЙН ХУГАЦААНД 15.1 САЯ ТОНН НҮҮРСИЙГ ₮7.4 ИХ НАЯДААР АРИЛЖЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2024/01/14     ИНФЛЯЦЫГ ТОГТВОРЖУУЛАХАД ЧИГЛЭСЭН МӨНГӨНИЙ БОДЛОГО ХЭРЭГЖҮҮЛНЭ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2024/01/14     ИРЭЭДҮЙН БЭЛЭН БАЙДЛЫН ИНДЕКСЭЭР МОНГОЛ УЛС 124 УЛСААС 75 ДУГААРТ ЭРЭМБЭЛЭГДЭВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/01/14     XII САРД ШИНЭ ОРОН СУУЦНЫ ҮНИЙН ӨСӨЛТИЙН ХУРД ҮЛ ЯЛИГ СААРЧ, 9.9 ХУВЬ БОЛОВ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2024/01/14     БҮХ ТӨРЛИЙН ТЭЭВРЭЭР 105 САЯ ТОНН АЧАА ТЭЭВЭРЛЭЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/01/14     ИНФЛЯЦ 3 САР ДАРААЛАН НЭГ ОРОНТОЙ ТООНД ХАДГАЛАГДАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/01/11     ӨНГӨРСӨН ОНД НҮҮРСНИЙ ЭКСПОРТЫН 92 ХУВИЙГ АВТО ЗАМЫН ХИЛИЙН БООМТООР ГАРГАЖЭЭ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2024/01/11    

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China's online chatter muted ahead of Apple iPhone 7 launch www.reuters.com

 
Judging by the volume of online chatter, there's a lot less buzz in China ahead of this week's expected launch of the new Apple Inc (AAPL.O) iPhone, and people on the street say they're more likely to "wait and see" what the latest device offers than rush out to buy.
 
Posts on China's popular Sina Weibo microblogging site show the iPhone 6, which took China by storm in 2014 with its new, larger screen, attracted around 15 times more comments in the month before launch than this year's model.
 
The muted online anticipation for the iPhone 7 underlines the challenge Apple faces to revive growth in China, where an economic slowdown has slammed the brakes on what was once touted as the firm's next big growth engine.
 
Apple's Greater China sales dropped by a third in April-June, albeit after more than doubling a year earlier, and revenue was down by more than a quarter to $8.8 billion - around a fifth of its total sales. Its 7.8 percent market share ranked fifth in China, trailing local vendors Huawei Technologies Co Ltd [HWT.UL], OPPO and Vivo, which together accounted for 47 percent, according to IDC data.
 
The California-based company's online stores for iBooks and movies was also closed in China after Beijing imposed strict curbs in March on online publishing, and Apple has been on the losing side of intellectual property battles here.
 
Beijing student Wang Yue, 23, said she was in no hurry to buy an iPhone 7. "I'm looking forward to the launch, but I won't rush to buy anything," Wang, who uses an iPhone 6S that was launched last year, told Reuters. "I want to know what new functions it's got. My feeling is there are no real major changes from the 6S, so I think I'll hold off for a while."
 
Apple is widely anticipated to unveil the new iPhone 7 at an event in San Francisco on Wednesday. The company, which doesn't give a regional breakdown for its iPhone sales, didn't respond to requests for comment.
 
Among half a dozen consumers Reuters spoke to most said they would first check out the new phone's functions or wait for the price to drop. Only one planned to definitely buy any new model.
 
"The word among consumers is the updates are not going to be revolutionary, but smaller changes," said Ben Cavender, Shanghai-based director at China Market Research Group, who described current consumer interest in China as "muted".
 
WAIT FOR EIGHT
 
More than anything else, the upcoming iPhone 7 may be a victim of the success of the iPhone 6.
 
China sales of the iPhone 6 soared in the first quarter of last year, helping drive up Apple's China revenues by 71 percent. A year later, weaker sales of the 6S contributed to the company's first global decline in iPhone sales and first revenue drop in 13 years - though globally the 6S was the top-selling smartphone in April-June, according to Strategy Analytics.
 
The research firm estimates iPhone shipments in China will decline 20 percent in the second half of this year to 21 million from a year ago.
 
"Apple is struggling with consumer 'iPhone fatigue' in China, while competition from Huawei, Oppo and others remains fierce," said Strategy Analytics analyst Neil Mawston.
 
Weibo chatter in the run-up to the iPhone 7 launch has, however, topped levels seen ahead of last year's 6S launch.
 
Some Chinese shoppers are even already eyeing a potential iPhone 8 model that could be launched with more significant changes next year, the 10th anniversary of the first iPhone.
 
"Because it's just one year, lots of people are choosing to wait for the iPhone 8," said Wang Bo, a finance worker in his thirties at a securities firm in Shanghai. "The changes with the 8 will be much bigger, which I think will be a drag on sales of the new phone this year."
 
Wang, who uses both an iPhone 6S and a Huawei P9, said he plans to buy this year's new iPhone when it's released in China.
 
But convincing other shoppers in China - and the United States - to replace their smartphone is a tougher sell today than in 2014, when many Chinese were buying an iPhone for the first time.
 
Concerns that Apple has hit "peak iPhone" have buffeted the firm's shares this year, with the stock price up just 2.35 percent, lagging the benchmark S&P 500 Index .SPX.
 
"The biggest thing that's changed since 2014 is that the iPhone is widely available," said Ben Thompson, who analyses the technology sector at Stratechery. "There's a lot more growth potential when people have their first chance to buy an iPhone, but that potential has now been realized."
 
 
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Bill Gates talked Microsoft out of trying to buy $3.8 billion Slack — so now Microsoft is trying to kill it www.businessinsider.com

In March, reports emerged that Microsoft was mulling over an $8 billion bid to snatch up the red-hot, $3.8 billion work chat app Slack — but Microsoft cofounder Bill Gates put the kibosh on that before an offer could be made.
 
Gates' argument was that Microsoft would be better served taking Skype, which it bought for $8.5 billion in 2011, and using it as the launchpad for a Slack competitor.
 
Now, it looks like Microsoft took Gates' feedback to heart: Microsoft-focused blog MSPoweruser reports that the tech titan is currently testing a new tool called Skype Teams, and it looks and sounds a lot like Slack, with at least one key improvement.
 
Much like Slack, Skype Teams offers "channels," which are different chat rooms for groups like sales, marketing, or product. A key difference is "threaded conversations," MSPoweruser reports, which helps organize conversations by making it look more like a Facebook comment thread.
 
Otherwise, Skype Teams and Slack look to offer a similar vibe, including the ability to make voice calls straight from the chat window. MSPoweruser has what appear to be Skype Teams screenshots that it claims were obtained from Microsoft employees.
 
Eventually, MSPoweruser reports, Skype Teams will make its way to the Office 365 suite as part of the monthly subscription for businesses, as well as potentially being available as a standalone product.
 
It's a logical move for Microsoft, as Slack makes tons of headway in the lucrative business-software space. Plus, Microsoft is always looking for new ways to convince businesses to upgrade to Office 365, which has the potential to make a lot more money per customer for the company.
 
And while Slack has found a niche in startups and midsize companies, it has struggled to make progress in the much-sought-after large enterprise market. Companies like Uber ended up abandoning Slack, going back to its chief competitor, Atlassian HipChat, apparently because it didn't offer the necessary security and compliance features.
 
So while Slack has won a lot of love in Silicon Valley, Microsoft's enterprise experience and expertise could make it a serious contender in this market. But with billions on the line, it'll be a real fight.
 
A spokesperson for Microsoft says that the company is "always building and testing new solutions to help people collaborate and get more done," but declined to offer specific comment on Skype Teams.
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Idemitsu to delay acquiring Showa Shell shares www3.nhk.or.jp

Executives at major Japanese oil wholesaler Idemitsu Kosan say the acquisition of shares in a smaller rival as part of a merger plan is going to take longer than expected.
 
The Idemitsu officials cite a delay in the screening of the acquisition by the Fair Trade Commission. They say they plan to take a stake in Showa Shell Sekiyu next month or later, a change from the initial plan of this month.
 
Idemitsu says FTC officials need time to vet another merger of oil wholesalers.
 
They are apparently set on completing the deal in April of next year. But they have another issue to clear, which is the opposition of the founding family to the merger.
 
Idemitsu managers say they will continue to try to win the family's consent. But it is still unclear whether the companies will be able to complete the proposed merger as planned.
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Eldorado Gold exits China, sells Jinfeng mine for $300 million www.mining.com

 
Canada’s Eldorado Gold (TSX:ELD) (NYSE:EGO) said Tuesday has completed the sale of its 82% stake in the Chinese Jinfeng mine to a wholly-owned subsidiary of China National Gold Group for US$300 million in cash.
 
The move marks the Vancouver-based miner exit from China, as the company announced earlier this year it was also selling its other three operations in the country — White Mountain, Tanjianshan and Eastern Dragon — for US$600 million in cash. That deal is expected to close before the end of the year, Eldorado said in the statement.
 
The transactions, said the company’s president and CEO Paul Wright, will add “meaningful value” to Eldorado and further strengthen the firm’s financial flexibility to advance its internal project pipeline.
 
Jinfeng produced 149,655 ounces of gold in 2015 and is expected to generate 95,000-105,000 ounces of gold this year, as the operation transitions fully into the underground.
 
Eldorado Gold, which also has operations in Turkey, Greece, Romania and Brazil, said it would use the money obtained from its Chinese mines to “continue to grow” the business based on “long-lived, low-cost assets.”
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Enbridge buying Spectra in $28 billion deal www.reuters.com

Canada's Enbridge Inc (ENB.TO) said on Tuesday it would buy Spectra Energy Corp (SE.N) of Houston in an all-stock deal valued at about $28 billion (C$37 billion) to create the largest North American energy infrastructure company.

The takeover, the most significant energy deal since oil and natural gas prices crashed in mid-2014, highlights how pipeline companies are under pressure to merge as they grapple with overcapacity and sliding tariffs that have slowed dividend growth and unnerved investors.

Enbridge's biggest-ever deal will consolidate its leading position next to U.S. transport giants Kinder Morgan Inc (KMI.N) and Plains All American Pipeline LP (PAA.N), which have seen their stock prices sink over the last two years as oil and gas producers slash spending on new wells.

Enbridge's pipelines mainly send Canadian oil sands to refiners on the U.S. Gulf Coast, while Spectra's network ships natural gas to the U.S. East Coast.

The deal has no serious antitrust problems as the companies' networks have "limited overlap," said Bruce McDonald, an antitrust expert with Jones Day law firm.

The U.S. Federal Energy Regulatory Commission did not comment.

Spectra shares leapt 13 percent to $40.89, their biggest jump in more than three years. Despite having risen some 50 percent since January on a partial recovery in oil and gas prices, Spectra's shares are still down 16 percent from a high of $43 hit in July 2014.

Enbridge Inc.'s crude oil storage tanks are seen during a tour of their tank farm in Cushing, Oklahoma, March 24, 2016. Picture taken March 24, 2016. REUTERS/Nick Oxford
Enbridge Inc.'s crude oil storage tanks are seen during a tour of their tank farm in Cushing, Oklahoma, March 24, 2016. Picture taken March 24, 2016. REUTERS/Nick Oxford
Enbridge's U.S.-listed shares (ENB.N) rose 4.3 percent to $42.77 and its Toronto-listed shares bounced.

Under the terms of the deal, Spectra shareholders will get 0.984 shares of the combined company for each share held. This is equal to $40.33 per share, representing a premium of about 11.5 percent to Spectra's closing price on Friday.

That premium was small compared to the 32.4-percent premium Energy Transfer (ETE.N) offered for Williams Companies Inc (WMB.N) in a 2015 deal that ultimately failed.

The Enbridge-Spectra deal has an enterprise value of $127 billion, the companies said. Enbridge will issue about 694 million new shares and take on about $22 billion of Spectra debt. Enbridge also said it planned to divest about $2 billion of non-core assets over the next year.

Enbridge Chief Executive Al Monaco will lead the combined company, which will be headquartered in Calgary. Greg Ebel, Spectra's CEO, will be non-executive chairman.

"Over the last two years, we've been focused on identifying opportunities that would extend and diversify our asset base and sources of growth beyond 2019," Monaco said in a statement.

After the close of the deal, Enbridge shareholders will own about 57 percent of the combined company, which is expected to deliver annual savings of C$540 million, most of which are expected to be achieved in late 2018.

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Despite lots of talk about an M&A wave, only a handful of energy acquisitions have happened since oil and gas prices entered their worst slump in a generation as buyers and sellers have been unable to agree on prices.

But now more deals are starting to get done.

On Tuesday, EOG Resources Inc (EOG.N), a leading U.S. shale oil producer, said it would buy privately held Yates Petroleum Corp, which has assets in the Permian Basin of West Texas and New Mexico, for $2.5 billion.

TransCanada Corp (TRP.TO), Canada's second-largest pipeline operator, completed its $10.2 billion takeover of Columbia Pipeline Group in July.

Enbridge bought a minority stake in the Bakken Pipeline last month. It also won an auction for a stake in EnBW's (EBKG.DE) Hohe See, a European offshore wind power project, according to a source familiar with the matter.

Credit Suisse Securities (Canada) and RBC Capital Markets were Enbridge's financial advisers, while Sullivan & Cromwell LLP and McCarthy Tétrault LLP were its legal advisers.

BMO Capital Markets and Citi were Spectra Energy's financial advisers and Wachtell, Lipton, Rosen & Katz and Goodmans LLP its legal advisers. Skadden, Arps, Slate, Meagher & Flom LLP advised Spectra on tax issues. The deal is slated to close in early 2017.

(Reporting by Richa Naidu, Sruthi Shankar and Sweta Singh in Bengaluru, Ernest Scheyder in Houston and Diane Bartz in Washington; Additional reporting by Sruthi Shankar; Editing by Terry Wade and Nick Zieminski)

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Japanese-French trio to supply LNG as ship fuel in Europe www.asia.nikkei.com

TOKYO -- Japan's Nippon Yusen and Mitsubishi Corp. will partner with French energy giant Engie to supply liquefied natural gas as ship fuel in Europe starting this year, as a greener alternative to heavy oil.

The trio on Tuesday announced the business under the Gas4Sea brand. A dedicated storage vessel that can hold 5,000 cu. meters of LNG -- the first of its kind -- will supply the fuel to other ships.

The operations will be based in Belgium's Port of Zeebrugge for the time being, refueling ships that make a stop there.

The International Maritime Organization in 2015 tightened environmental regulations for ships navigating in the North Sea and the Baltic Sea, requiring a 90% reduction of sulfur oxides content in fuel oil -- the mainstay ship fuel -- to a maximum of 0.1%.

Ships that travel through these waters now use low-sulfur fuel oil that is about 70% more expensive than regular fuel oil. LNG emits no sulfur oxides and is roughly the same price as normal fuel oil, so marine shippers would be able to cut fuel costs by switching.

Engie's global gas supply network will enable the business to expand to other parts of the world, including North America and Asia.

Jun Nishizawa, a senior vice president at Mitsubishi, told reporters in Hamburg, Germany, that the partners will work together to cultivate a new market in Asia, where regulatory changes have been lagging.

For waters around the globe, more stringent environmental regulations are to take effect as early as 2020, slashing the maximum allowed sulfur content in fuel to 0.5% from the current 3.5%. Against such a backdrop, demand for LNG as a cleaner fuel is seen reaching 7 million tons in 2020. The three companies hope to supply 200,000 to 300,000 tons of LNG a year.

About 300 ships used LNG as fuel last year and the tally is seen exceeding around 1,500 in 2020, according to the Japan Ship Technology Research Association.

Mitsubishi's rival Mitsui & Co. is also considering LNG supply in the Russian Far East by joining hands with state-owned company Gazprom. And European oil giant Royal Dutch Shell is building a large vessel to use for LNG supply.

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Volkswagen buys 16.6% stake in US truck company Navistar www.bbc.com

Volkswagen has agreed a deal to buy a 16.6% stake in US truck-maker Navistar.
The agreement gives the German car manufacturer a foothold in the US truck market and Navistar a source for new engines for its fleet of vehicles.
Volkswagen will pay $15.76 (£11.76) for each of 16.2 million new company shares - 12% above Friday's closing price.
The deal is also creating a joint venture for procurement, which will help Navistar reach synergies of at least $500m (£373m) over five years.
There had been pressure on Navistar and other companies to find technology partners, after US regulators announced new environmental standards to cut greenhouse gas emissions from medium and heavy-duty trucks by up to 25% by 2027.
The company's chief executive Troy Clarke said: "Over the longer term, it is intended to expand the technology options we are able to offer our customers by leveraging the best of both companies."

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Delta Suspends Direct Flights Between Russia and U.S. www.themoscowtimes.com

American airline Delta has suspended direct flights to Russia until the end of the year.

Delta's general representative in Russia, Leonid Tarasov, made the announcement Tuesday following earlier reports that Delta had completely withdrawn from the Russian market.

Speaking in an interview with the Govorit Moskva radio station, Tarasov said that the move was due to an expected drop in demand during the winter season.

The American airline’s last flight out of Russia this year will take off from Moscow’s Sheremetyevo airport on Tuesday. Customers will now only be able to travel to the United States with Delta with a KLM or Air France flight via Amsterdam or Paris respectively.

Russian carrier Aeroflot will continue to fly directly between the two countries, with daily flights between Moscow and New York.

Delta operates in 96 countries, and is considered the world’s largest airline based on the size of its fleet, passenger volume, and number of destinations.

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Fiat's founders are leaving Italy www.cnn.com

The aristocracy of Italian industry are moving their massive investment company to the Netherlands.
The Agnelli family founded automaker Fiat in 1899, and built a fortune over more than a century. Their $10 billion investment firm Exor now owns large stakes in global companies including Fiat Chrysler (FCAM), Ferrari (RACE) and The Economist Group.
Exor says the move from Turin to Amsterdam will simplify operations since Fiat Chrysler, Ferrari and other businesses in its portfolio have already based themselves in the Netherlands.
When chairman John Elkann -- great-great grandson of Fiat founder Giovanni Agnelli -- proposed the move back in July, he said it was natural for Exor to align with "our principal investments [that] have themselves already reorganized their own corporate structure to better reflect their global activity."
The move to the Netherlands would allow the company to benefit from legal, financial and commercial expertise in Amsterdam, according to a person familiar with the move.
"Investors fully expect a global company to be located in a global center," the person said, speaking on condition of anonymity because he is not a spokesperson for the company.
The new Dutch shareholding structure will give more voting rights to shareholders who hold onto their investments for years, such as Agnelli family members.

Exor -- and subsidiaries such as Ferrari and Fiat Chrysler -- will still be traded on the Milan stock exchange, and its companies will continue to employ over 80,000 people in Italy.
The move, which should be finalized by the end of the year, will directly affect about 25 staff in Exor's head office.
Exor also owns 100% of Bermuda-based insurance firm PartnerRe, a majority stake in Italian soccer club Juventus and a large portion of the construction equipment manufacturer, CNH Industrial (CNHI), based in the Netherlands.

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MUFG to bolster capital with green bonds www.asia.nikkei.com

TOKYO -- Striving to meet stricter capital requirements for banks, Mitsubishi UFJ Financial Group plans to raise up to $3 billion through bonds specifically aimed at financing renewable energy projects.

The first batch of bonds, worth $500 million, is to be issued in September as part of a $3 billion issuance of so-called TLAC bonds. The Japanese megabank is looking to tap into growing demand for environment-friendly projects among institutional investors. Eventually, MUFG plans to increase the size of its green bond issuances to between 200 billion yen and 300 billion yen ($1.93 billion and $2.9 billion).

TLAC bonds are subordinated securities issued to raise an institution's "total loss-absorbing capacity." Debt acquired through loss-absorbing securities is deemed de facto equity capital. Since the holders are subject to losses, the obligations need not be repaid if the issuer goes bust. This is designed to shift risk onto the shoulders of investors, and away from the global financial system.

The international Financial Stability Board introduced the TLAC standard to ensure that systemically important banks have sufficient cushions -- minimizing danger to the financial sector and reducing the need for public bailouts.

MUFG plans to invest funds raised through its green bonds on photovoltaic, solar thermal and wind energy projects.

The bank is targeting mainly foreign investors with the seven-year bonds. It assumes an annual yield in the upper half of 2%, about 1 percentage point higher than that of U.S. securities with the same time to maturity.

(Nikkei)

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