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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Events

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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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Samsung shares slide further after Note 7 crisis www.bbc.com

Shares in Samsung fell further on Wednesday after the smartphone maker said it would scrap production of its flagship Note 7 model.
Shares fell 3% at the open, adding to Tuesday's 8% fall.
The company has seen more than $20bn wiped off its market value in two days.
The Note 7 was recalled over exploding batteries in September but as new phones showed the same problems, the South Korean firm has now scrapped the device entirely.
The drop in shares marks a one-month low for Samsung as concerns grew that the current crisis will go beyond the costs of the recall and affect the brand's overall reputation.
Analysts are suggesting the Note 7 crisis could cost Samsung in the long run, particularly coming just as rivals, including Google and Apple, have announced new high-end smartphones.
The Note 7 had been seen as the main rival to Apple's new iPhone 7 model. Samsung's woes have sent Apple's shares to a 10-month high.
In September, Samsung recalled around 2.5 million phones after complaints of exploding batteries.
It later insisted that all replaced devices were safe. However, that was followed by reports that those phones were catching fire too.
But on Tuesday, the company said it would permanently cease production of the device and urged owners to turn it off.
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WHO: Sugary drink tax reduces obesity, diabetes www3.nhk.or.jp

A World Health Organization report says taxing sugary drinks can help to reduce the risk of obesity and diabetes.
 
The report released on Tuesday was compiled by a WHO group that studies policies to prevent non-communicable diseases.
 
The study says the consumption of sugary drinks and other similar products is a major factor behind the rise in the number of people suffering from obesity and diabetes. The WHO says about 500 million people aged 18 or older are obese and over 400 million have diabetes.
 
It says an increase of at least 20 percent in the retail price of such products can encourage people to significantly reduce their consumption.
 
The report says a tax would have the greatest positive effect on the health of young people and those on low incomes.
 
It adds that a tax on sugary drinks can reduce people's suffering, save lives and cut healthcare costs.
 
Mexico has already introduced a tax on non-alcoholic beverages with added sugar. Britain, the Philippines and South Africa are considering taxes on sugary drinks.
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Saudi Arabia to slash capital spending by 71% www.rt.com

With the largest budget shortfall among the world’s 20 biggest economies, Saudi Arabia is planning more austerity measures this year. The kingdom will scrap projects worth more than $20 billion as it comes to terms with cheaper oil.
 
According to the Saudi government’s bond prospectus obtained by Bloomberg, capital expenditure is expected to fall to $20.6 billion (75.8 billion riyals) this year compared with $70.2 billion (263.7 billion riyals) in 2015. Two years ago, the country’s capital spending was $98.6 billion (370 billion riyals).
 
“I would’ve liked to have seen more cuts to current spending rather than focusing almost entirely on capital expenditure,” said Khatija Haque, head of Middle East and North Africa research at Emirates NBD. She added “in the short-term, the impact will be slower growth” as government spending and investment is reduced.
 
Saudi officials have suspended bonuses and reduced allowances for government employees, and a 20 percent cut to ministers’ salaries. As a result of the cuts spending will decline to $155 billion (581.2 billion riyals) from $190 billion (714.4 billion riyals).
 
The kingdom’s growth will likely slow to 0.6 percent this year from 3.4 percent in 2015, according to HSBC Holdings.
 
In the summer, Riyadh unveiled a plan for the post-oil era in a move to reshape the kingdom’s economy. As part of the initiative, the country plans to triple non-oil revenue and cut public sector wages and subsidies by 2020.
 
Under the new program, Riyadh intends to boost non-oil revenues to $141 billion (530 billion riyals) within four years, from current $43.5 billion (163.5 billion riyals).
 
The crude price fall has had a significant impact on the kingdom’s economy as oil sales account for almost 90 percent of the country’s earnings. Saudi Arabia is suffering a record budget deficit which is estimated at $87 billion this year. According to government projections, it will decline to 13.5 percent of GDP this year from 15 percent in 2015.
 
This week Saudi officials are meeting with investors on the country’s first international bond issue aimed at strengthening the strained finances. The offering is expected to exceed $10 billion.
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Italy withdraws Rome 2024 Olympic Games bid www.bbc.com

Italy's Olympic Committee has officially withdrawn its bid to stage the 2024 Games in Rome after the city council voted to oppose the candidacy.
Rome's Mayor Virginia Raggi from the populist Five Star party had said the city had to prioritise matters such as rubbish collection and corruption.
It means only Paris, Los Angeles and Budapest are left in the running after Boston and Hamburg also abandoned bids.
The International Olympic Committee is due to make a decision next September.
Committee chief Giovanni Malago said the decision meant Italy had been "made to look like fools" and would miss out on investment.

However, the Five Star party had repeatedly said it opposed bidding for the Games before winning control of Rome in June.
The Italian government had supported the bid and the broader Rome municipality, which includes many other small town councils, had indicated it would support the bid to overcome Five Star's opposition.
But Mr Malago said he would not go ahead without the main city council's backing.
Rome also applied to host the 2020 Olympics but pulled out of that race in 2012 because then prime minister Mario Monti feared Italy could not afford it.

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Global energy gathering "very positive" for oil price stability: Venezuelan official www.xinhuanet.com

CARACAS, Oct. 10 (Xinhua) -- Venezuela's Minister of Communication and Information Ernesto Villegas on Monday described a global gathering of oil producing countries as "very positive" towards stabilizing volatile crude prices.
 
Following the opening day of the 23rd World Energy Congress this Sunday in Istanbul, Turkey, Villegas told state-run VTV "it has been a very positive working day," which should lead to "fair, realistic and stable prices."
 
Venezuela's heavily oil-dependent economy has been teetering since the price of crude nosedived in 2014, falling from more than 100 U.S. dollars a barrel to around 20 U.S. dollars.
 
In a phone-in interview from Turkey, Villegas said members of the Organization of Petroleum Exporting Countries (OPEC) and other energy producers were expected to reach an agreement to steady prices by the end of the congress this Thursday.
 
Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan, as well as other leaders from both OPEC and non-OPEC countries, concurred "on the need to stabilize the market," said Villegas.
 
Putin's "decisive" remarks on the matter "indicate the international markets are going to see (crude demand) a greater price and stability, but above all a greater price. That is very important for all our countries," said Villegas.
 
In a speech to the congress, Venezuelan President Nicolas Maduro called for the creation of "new mechanisms" to shore up prices, and proposed a 10-year plan to expand and stabilize the world oil market.
 
"The oil prices we have had are the lowest in 40 years," said Maduro, adding they were "unsustainable."
 
At the same time, Venezuela would also work to diversify its energy sources, said Maduro.
 
"We must guarantee new sources of financing and access to new technologies to create energy via the sun, wind, water and nuclear energy ... for peaceful purposes," said Maduro.
 
OPEC nations agreed at a gathering Sept. 28 in Algeria to set an output ceiling of 32.5 million barrels per day for 2017, slightly less than the current 33.24 million barrels.
 
Venezuela hopes the agreement is ratified at OPEC's upcoming meeting in Vienna, Austria on Nov. 30, where the group will decide on the output quotas for each member nation.
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Mongolia & China launching feasibility study of Mazaalai (Gobi Bear) conservation project www.en.montsame.mn

Ulaanbaatar /MONTSAME/ A protocol has been signed on feasibility study for the Project on Conservation of Endangered Mazaalai Species of Mongolia. A proposal on implementation of such a project was forwarded by the government of Mongolia to the Chinese side.
 
Nine specialists from China conducted a research on ways of improving the living environment for Mazaalai between September 28 and October 10 at the Great Gobi Strictly Protected Area. The research will help set the starting point for the feasibility study. The project will greatly contribute to saving the species of Gobi Bear, which has a population of only 28, said the Vice Minister of Environment and Tourism Ts.Batbayar.
 
The Mazaalai was inscribed in the List of Endangered Species in 2010. Minister Counsellor at the Embassy of the People's Republic of China, Mr Yang Qingdong said: "Mazaalai is a precious treasure of Mongolia. Therefore, it is crucial to save these animals. However, the works face serious problems regarding the natural habitat of the species. The Embassy will put all efforts in realizing this project".
 
Director of the Environmental and Natural Resource Management Department of the Ministry D.Davaasamba and the Secretary of Trade and Economic Affairs of the Chinese Embassy Liu Jiefen signed the protocol.
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Japan's overbuilt solar market waiting for new dawn www.asia.nikkei.com

TOKYO -- A government-policy-driven solar power investment boom in Japan has given way to a bust, tipping panel shipments into decline for the first time in eight years, with no sign of a turnaround.
 
A feed-in tariff -- in essence, a guaranteed purchase price for output -- for solar power has been cut each year since it was introduced in fiscal 2012 as an incentive for renewable energy investment. It worked too well, fostering an oversupply of generating capacity. Now, panel makers are at a loss for ways to revive demand.
 
Kandenko, a provider of electrical work, says it has received many inquiries since August from parties interested in selling out of solar projects not yet under construction. The company has announced plans to turn this into a new business targeting large-scale planned installations together with Mitsubishi Research Institute. Banks and builders have taken notice.
 
Some 80% of Japan's "megasolar" projects, so called because their scale is measured in megawatts, do not produce a single watt of power (1 megawatt equals 1,000kW). Poor planning is to blame for many of these failed starts. Kandenko and Mitsubishi Research Institute have developed a system for projecting solar farm earnings, which the partners believe will help them spot potential winners to buy.
 
Second-hand solar
 
Solar power provider West Holdings recently auctioned off a partially complete 500kW installation for 178 million yen ($1.72 million) -- more than the estimated 150 million yen cost of constructing a new one of that size. Located in Hiroshima Prefecture, this solar farm is scheduled to begin operation in November.
 
"We thought the bidding would last a week, but it was a done deal after a single day," a manager overseeing the auction said.
 
That old can fetch a premium over new in solar farms attests to a distorted market. When Japan introduced feed-in tariffs in July 2012, enthusiasm over renewable energy was running high following the previous year's Fukushima nuclear disaster. Domestic solar panel shipments, which had been struggling to break even 2,000 megawatts a year, took off on the incentive and kept climbing until fiscal 2014.
 
But the bubble did not last long. Japan's electric grid, designed to handle predictable, steady-going power sources like coal or nuclear plants, could not handle the rapid increase in solar power feeding into the system. The big regional utilities began putting power purchasing contracts on hold.
 
Meanwhile, the government revised the solar tariff downward each year. This fiscal year, output from solar installations of 10kW or more fetches 24 yen per kilowatt-hour -- 40% less than in fiscal 2012.
 
Faced with a less-inviting market, newcomers have rapidly dwindled. Panel shipments dropped 23% on the year in fiscal 2015, to the equivalent of 7,140 megawatts. This marked the first decline since fiscal 2007. The drop continued in the April-June quarter of fiscal 2016, quickening to 26% year on year.
 
Solar farms built in the boom years enjoy higher locked-in prices per kilowatt-hour.
 
"Rather than build new at 20-something yen, we are hunting for the many existing projects with outstanding contracts at the 30- and 40-yen levels," says an executive at a major power provider.
 
Green acres
 
Efforts are being made to stir up fresh demand. In a field in the northern city of Osaki, inland from some of the coastal areas hit hardest by the March 2011 tsunami, an experiment is underway to test whether a solar farm can double as a real farm.
 
Concrete panels and steel pipe stand in place of actual solar panels in a corner of a 4-hectare farm. A lush carpet of grass is growing under this setup.
 
"We're studying how well crops can grow in shady conditions," explained Keji Yasuoka, president of the Japanese unit of Spain-based renewable energy group X-Elio.
 
The company is looking to place solar installations -- measuring in the tens of megawatts -- on working farms in the Tohoku region of northern Japan. "The advantage of using farmland is that it doesn't entail landscaping costs," Yasuoka said.
 
Lowering start-up investment offers a way to keep the momentum for solar projects going despite the lower feed-in tariff. With many prime locations already taken by projects stuck on the drawing board, some players are looking beyond farms to more unusual sites. Kyocera and others are working on floating solar farms on a dam reservoir in Chiba Prefecture, outside of Tokyo. The cooling effect of the water helps maintain the panels' conversion efficiency.
 
Many expect another double-digit decline in panel shipments this fiscal year. The secretary-general of the Japan Photovoltaic Energy Association, Masaaki Kameda, understands the severity of the downturn and said the group favors a shakeout of plans not in operation with little commercial viability.
 
Meanwhile, Japan is seeing an increase in new construction in wind power, and long-idle nuclear reactors are coming back onstream. But the country cannot achieve the government's goal of increasing the share of electricity generated from renewable sources without continuing to expand solar capacity. For solar, it may be darkest before dawn.
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Salesforce still mulls bid for Twitter as shareholders resist: sources www.reuters.com

Salesforce.com Inc (CRM.N) is still deliberating whether it should make an offer for Twitter Inc (TWTR.N) in the face of resistance from Salesforce shareholders over the strategic merits and valuation of such a deal, people familiar with the matter said on Monday.
 
Twitter shares have lost as much as a third of their value since Oct. 5 on concerns the company has attracted less interest from potential acquirers than previously envisaged. It now has a market capitalization of $12 billion.
 
Salesforce is deliberating whether it is worth making a lowball offer for Twitter in the coming days based on Twitter's stock performance and any news of other bidders, the people said.
 
Other potential acquirers such as Alphabet Inc's Google (GOOGL.O) and Walt Disney Co (DIS.N) have backed away from making offers for the Internet company, the people said. There may however be other companies contemplating offers for Twitter whose identity has not yet been reported, some of the sources suggested.
 
The sources asked not to be identified because the deliberations are confidential. Salesforce declined to comment while Twitter, Google and Disney did not immediately respond to a request for comment.
 
Reuters previously reported that Twitter aimed to conclude deliberations about selling itself by Oct. 27, when it reports its third-quarter earnings.
 
Salesforce.com, run by CEO Marc Benioff, is focused on cloud-based sales and marketing software. Unlike Twitter, its main product is aimed at business users, not consumers. Under Salesforce.com, Twitter could become a corporate tool used to power sentiment analysis and nurture customer relationships.
 
A potential acquisition of Twitter has weighed down Salesforce's stock since news broke on Sept. 23 that it was vying for Twitter. Its shares rose as much as 7 percent on Monday after a weekend report by Bloomberg News suggested Salesforce was unlikely to make an offer.
 
Some analysts and investors have questioned why Salesforce would need to own Twitter, when it already licenses the Twitter "firehose" for its new artificial intelligence platform, Einstein.
 
At Salesforce's annual client conference last week, Benioff said Salesforce considers buying many companies but maintains discipline, and wished Twitter CEO Jack Dorsey "well." These comments tamped out expectations that Salesforce would be an aggressive bidder for Twitter.
 
Since its founding a decade ago, Twitter has struggled to generate revenue growth and profit, despite having some 313 million average monthly active users and a growing presence as a source of news.
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Minister of Environment: Saker falcons do not exit Mongolia on commercial purposes www.mongolia.gogo.mn

No saker falcon has exited Mongolia on commercial purposes since 2013, stated the Minister of Environment and Green Development, Ms D.Oyunkhorol at a press conference today in response to a statement made by the president of Mongolian Professional Hunters Association D.Khurtsgerel, who accused the Minister for smuggling the rare species of birds, on October 7.
“Minister has no authority or whatsoever over exporting falcons. The Cabinet issued a resolution in 2013 banning the commercial export of saker falcons. The birds are gifted on some occasions to high-level guests from the Middle East. For security, all information regarding the arrival and departure dates and visit programs are classified, including the information on gifts. In 2016, four officials paid visits here from the Middle East. These guests were accompanied by 50-150 people. With the visits, the airport, hotel and other services made income of about MNT 15 billion only in August and September. The guests were imposed MNT 10 billion customs duty to carry each gift bird with them”, she said.
“On the other hand, great amount of investment was made in Mongolia from the Middle East within the past decade. For instance, USD 13 million in construction of Taishir Hydropower Plant, USD 3.4 million in establishment of Biodiversity Research Center, and USD 360 million in purchasing necessary medical equipment for the general hospitals of Khentii and Bayan-Olgii provinces. Middle Eastern investors have settled financing of USD 7 million for the project on Burn Treatment Center and USD 12 million for construction of Khentii airport. Therefore, a person cannot insinuate the high-ranking officials and investors on the basis of his own personal interests”, the Minister underlined.
According to the director of Environmental and Natural Resources Management Department of the Ministry, Mr D.Davaasamba, President of the Hunters’ association D.Khurtsgerel submitted a proposal on exporting saker falcons, which was rejected by the Ministry.
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S.Korea likely to seek TPP membership www3.nhk.or.jp

Japan's largest business organization says the South Korean government plans to seek entry into the Trans-Pacific Partnership free trade agreement.
 
South Korea's trade minister Joo Hyung-hwan met Sadayuki Sakakibara, chairman of the Japan Business Federation, or Keidanren, in Seoul on Monday.
 
According to Keidanren, Joo said the government will soon make the official decision to take part in the TPP. Joo reportedly asked for support from Japan's government and business sectors for the planned bid to join the deal.
 
Japan is one of the 12 nations that signed the agreement earlier this year. Seoul can only join the pact after gaining approval from each of those 12 countries.
 
South Korea has put priority on bilateral free trade deals. But it has been analyzing the contents of the TPP since the 12 countries reached a broad agreement on it in October last year.
 
Joo's remark suggests that Seoul has concluded that the deal would benefit South Korean firms in exports and investment.
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