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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”ТОКИОГИЙН ЗАГВАРЫН ЕРТӨНЦ” ҮЗЭСГЭЛЭН ЯАРМАГ RX Japan Tokyo

NEWS

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Apple facing record bill for Irish tax www.bbc.com

Apple could be ordered to pay billions of euros in back taxes in the Republic of Ireland by European Union competition officials.
The final ruling, expected on Tuesday, follows a three-year probe into Apple's Irish tax affairs, which the EU has previously identified as illegal.
The Financial Times reports that the bill will be for billions of euros, making it Europe's biggest tax penalty.
Apple and the Irish government are likely to appeal against the ruling.
Under EU law, national tax authorities are not allowed to give tax benefits to selected companies - which the EU would consider to be illegal state aid.
According to EU authorities, rulings made by the Irish government in 1991 and 2007 allowed Apple to minimise its tax bill in Ireland.Apple's company structure enabled it to legally channel international sales through Ireland to take advantage of that tax deal.
On Tuesday EU competition commissioner Margrethe Vestager is expected to give an estimate of how much Apple will have to pay back.
But it will be up to Irish authorities to calculate the exact amount.
US warning
The investigation into Apple and similar probes into other US firms have been criticised by US authorities.
Last week the US Treasury Department said the European Commission was in danger of becoming a "supra-national tax authority" overriding the tax codes of its member states.
Brussels was using a different set of criteria to judge cases involving US companies, the US Treasury warned, adding that potential penalties were "deeply troubling".
BBC North America technology reporter Dave Lee says that the US Treasury is concerned that if there is a big EU tax bill for Apple, as expected, then Apple will set off at least some of that against the tax it would be paying in the US.
"So it's essentially shifting billions of dollars from the US economy, from the US tax-pot, into Europe. The US says Europe simply doesn't deserve that money, because all the hard work that goes into creating the iPhone and other Apple products... takes place in the US, and not in Europe."
Apple is not the only the company that has been targeted for securing favourable tax deals in the European Union.
Last year, the commission told the Netherlands to recover as much as €30m (£25.6m) from Starbucks and Luxembourg was ordered to claw back a similar amount from Fiat.
Apple is potentially facing a much bigger bill, but with cash reserves of more than $200bn (£153bn), the company will have little problem paying up.
Nevertheless, Apple may have to restate its accounts following the ruling.
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Oil prices rise as dollar comes off two-week high www.reuters.com

Oil futures edged up on Tuesday as the U.S. dollar backed off a two-week high hit the day before, although doubts that crude producers would agree next month to an output freeze continued to drag on prices.
 
The U.S. dollar has retreated from Monday's peak as investors look ahead to jobs data this week that Federal Reserve Vice Chair Stanley Fischer has said will be important to whether the U.S. central bank raises interest rates soon.
 
A weaker dollar makes oil purchases cheaper for buyers using other currencies, potentially spurring demand.
 
Yet doubts of agreement in talks on an output freeze among members of the Organization of the Petroleum Exporting Countries (OPEC) continues to weigh on prices.
 
"There's a feeling that the OPEC production freeze talks might result in something positive, but it's just talk," said Robert Nunan, risk management director at Mitsubishi Corporation.
 
Brent crude futures LCOc1 were trading at $49.38 per barrel at 0505 GMT, up 12 cents from their previous close.
 
U.S. West Texas Intermediate (WTI) crude was up 17 cents at $47.15 a barrel.
 
Saudi Arabian Energy Minister Khalid Al-Falih told Reuters last week he does not believe an intervention in oil markets is necessary since the "market is moving in the right direction".
 
This was followed by the United Arab Emirates energy minister Suhail bin Mohammed al-Mazroui saying OPEC's current share of the oil market is "at a good level".As well, Iraq - which increased crude exports this month from its southern ports compared with July - will continue ramping up output, its oil minister said on Saturday.
 
"Either way, despite some increases in Saudi Arabia and Iraq, OPEC production seems to be flattening with the outages in Libya, Nigeria and Venezuela, knocking out some 3 million barrels of daily production and no one is holding their breath they'll return soon," said Nunan.
 
In addition to output disruptions stemming from years of conflict, budgetary delays from Libya's new government are now also undermining oil production, said the head of the state energy company on Monday.
 
Meanwhile, a Nigerian militant group has said it has ended attacks on the nation's oil and gas industry that have reduced the OPEC member's output by 700,000 barrels a day to 1.56 million bpd.
 
(Reporting by Roslan Khasawneh; Editing by Joseph Radford and Tom Hogue)
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Saudi Arabia continues to burn through foreign reserves www.rt.com

Riyadh’s foreign reserves dropped to $555 billion, down $6 billion in July, as low oil prices continue to eat up the country's assets abroad.Saudi Arabia’s foreign holdings are 16 percent down on the same month in 2015 and are at their lowest level since February 2012. The holdings peaked in August 2014 at $737 billion falling with oil prices.
 
The assets are likely to consist of US dollars, securities like US Treasury bonds and deposits with banks abroad. The deposits reduced by $8 billion to $125 billion in July, but holdings in foreign securities grew by $2 billion to $371 billion after 10 straight months of contraction.
 
In an attempt to corner the global market and oust high-cost oil producers like US shale, Saudi-dominated OPEC introduced predatory prices for its oil, pushing crude from $114 a barrel in the summer of 2014 to the current $50.
 
Last year, the Saudi budget deficit hit an historic high of $98 billion. Riyadh expects this figure to drop to $87 billion. To cover some part of the deficit, the government has been borrowing domestically and abroad.Despite this, the Kingdom has no plans to cap production, pumping a record 10.67 million barrels of oil per day in July.
 
Saudi Arabia also expects to issue its first international bonds in October to raise at least $10 billion. Citigroup, HSBC and JPMorgan Chase were hired as global coordinators for the sale, according to Bloomberg.
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Japan's unemployment rate falls to 3% www3.nhk.or.jp

Unemployment in Japan edged down to 3.0 percent in July. That's a 0.1 percentage point drop from the previous month and the lowest level since May 1995.
 
Japanese government officials say about 65 million people were employed in July, up by one million from a year ago. The number of jobless fell to about 2 million, nearly 10 percent less than the same month last year.
 
The ratio of job offers to applicants remained unchanged from June at 1.37.
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"Invest Mongolia 2016" UB Sep 05-06.2016 www.mongolianbusinessdatabase.com

Mongolian Business Database (MBD) is officially supporting the Frontier Conference's "Invest Mongolia 2016" forum which will be held in Ulaanbaatar Mongolia between Sep 05-06.2016.

Please review the following announcement.

11th ASEM (Asia-Europe Meeting) has successfully finished on July 16. As the host country, Mongolia has given great impressions on a mere 3 million population country to world leaders including 11 head of States and 23 heads of Governments with the strong leadership of President Elbegdorj.
This is the landmark event for the diplomacy because 1.5 billion people in the world has watched the event on TV. Hence, we expect to see the spillover effects in a future.
In addition, Mongolian People’s Party (MPP) has enjoyed a surprising landslide victory on the General Election at the end of June taking 85% of the seats at the parliament. Immediately after the election, M. Enkhbold has become the Speaker of the Parliament. And, under his leadership, the opinions of the Parliament and the Cabinet will be united and the decision makings will be quicker.
Because of those two events, the sentiment of foreign investors will improve in a short term.
However, the really important issues from now on will be whether the contents of the plan of Action for the next 4 years announced by the Government will be feasible, consistent, friendly and acceptable for investors.
We particularly want to know the policies of the new leaders to revive the economy as soon as possible.
Also, we want to know the measures to make the policies consistent.
Remember that we are still waiting for the regional elections in October and the Presidential election next year. So, the pressures to expand the expenditure will be on the rise. However, we do not want to see the policies to be influenced by those sentiments.
We also want to see follow-ups of ASEM meetings in the latter half of this year.
As we host Invest Mongolia at the first week of September, we should know rough ideas of the directions of the country by then. So, this will be a great opportunities for everyone to get together.
Therefore, Frontier is pleased to invite you all to our upcoming “Invest Mongolia 2016” conference on September 5-6, 2016. This conference is one the of the largest events in Mongolia, which serves as a platform of bringing in people from the Government, key industries' players, financial institutions and global investors; where they get a chance to talk about several socio-political and economic development throughout the year. Thus, this conference will provide first-hand information you need to make your lucrative activities more fruitful.
We have successfully held the 9th Invest Mongolia on Sep 8-9, 2015 in Ulaanbaatar and the 3rd Invest Mongolia on Dec 9-10, 2015 in Tokyo with more than 1000 people attended from almost 30 countries in the world. For those of you who have not attended the conferences, please see the post conferences to learn more.
WHAT'S NEW THIS YEAR?
The assessments of the Action Plan in the next 4 years and whether the new Government will take investor friendly measures
What did Asia–Europe Meeting (ASEM) mean for Mongolia and the rest of the world?
The overview of Mongolian Economy including updates on legal, accounting and other regulatory changes
The progress and its impacts of OT underground and other major projects to the economy
The launch of AIIB and its involvements to the infrastructure development in Mongolia
The Mongolian Banking Industry and the Bank Strategies
The development of the non-mining sectors including the Real Estate
The foreign Investment in Mongolia: Concerns & Opportunities
The outlook of the Bond Market and the challenges of the refinancing ahead of 2017 when massive amount of maturities will take place in the market
AN ULTIMATE OPPORTUNITY TO LEARN AND NETWORK FROM KEY EXPERTS...
Registration is free of charge. For further inquiries, please contact at conference@frontier.mn
AN ULTIMATE OPPORTUNITY TO LEARN AND NETWORK FROM KEY EXPERTS...
Registration here (free of charge!)
Two Day Program:
The two-day conference will consist of presentations and panel discussions. There will also be a segregated area for exhibitors.
Sponsor/Exhibit & Delegate participation
Sponsoring, presenting and exhibition opportunities are available for those wishing to gain visibility and expand their network with Mongolia’s most prominent leaders.
For conference information, please visit us at http://frontier-conference.com 
For any other inquiries, please email us at conference@frontier.mn

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Volkswagen decides not to sue South Korea over sales ban www.reuters.com

Volkswagen (VOWG_p.DE) decided against suing South Korea which last month suspended sales of most of its models and slapped a fine of 17.8 billion won ($15.93 million) on the German carmaker.
 
Instead, Volkswagen will try to achieve certification for the affected models and resume sales quickly rather than taking on a lengthy legal process, a spokesman for Volkswagen's South Korean unit said.
 
Last month, the government revoked certification for 80 model variants of VW, Audi and Bentley vehicles on grounds that the German automaker fabricated certificates of vehicle emissions and noise-levels.
 
At that time, Volkswagen described the ruling as "most severe" and said it would consider a legal challenge.
 
Volkswagen's sales slumped 40 percent to 12,888 vehicles from January to July in South Korea, after jumping 17 percent last year, in the wake of its emissions-test cheating scandal.
 
Nissan Motor's (7201.T) South Korean unit has filed a lawsuit over claims by the environment ministry that it had cheated on emissions with its Qashqai diesel sport utility vehicle.
 
($1 = 1,117.7000 won)
 
(Reporting by Hyunjoo Jin; Editing by Stephen Coates)
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Hershey shares tumble after Mondelez scraps takeover bid www.bbc.com

Snacks giant Mondelez International is abandoning its takeover bid for American confectioner Hershey after its $23bn (£18bn) offer was rejected.
The deal would have created the world's biggest maker of confectionary, but Hershey turned down the cash and stock offer in June.
Hershey shares tumbled by as much as 12% in late US trading on the news. Mondelez shares rose by almost 4%.
Mondelez brands include Cadbury chocolate and Trident chewing gum.
Its chief executive Irene Rosenfeld said the board was "disappointed with the outcome" but had decided there was "no actionable path forward toward an agreement".
"Our proposal to acquire Hershey reflected our conviction that combining our two iconic American companies would create an industry leader with global scale in snacking and confectionery and a strong portfolio of complementary brands," she said in a statement.
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China plans to produce its own aircraft engines www.rt.com

In an effort to wean itself off foreign suppliers, Beijing has launched the country's first aircraft engine manufacturer for the domestic market.“We will try to find a path along which we can make independent innovation in conducting fundamental research, making breakthroughs in key technology and producing strategic aircraft engines,” said Liu Tingyi, President of the Chinese Aeronautical Establishment, as quoted by Chinese state media.
 
China’s cabinet, Beijing municipal government, along with the state-owned Aviation Industry Corporation of China and Commercial Aircraft Corp of China has invested into the new Aero-Engine Corporation of China (AECC).
 
The new enterprise, which will reportedly have 50 billion yuan ($7.5 billion) in registered capital and 96,000 employees, will focus on developing both military and commercial jet engines.
 
Founding the company was a “strategic move” to make China an aviation power, according to President Xi Jinping.
 
China is manufacturing planes, but has been struggling for decades to build its own jet engines that could meet global requirements and increase China’s military power.China's air force imports Russian-made engines. Chinese commercial aircraft, the narrow-body C919, is powered by engines produced by a US-French joint venture, while engines for the ARJ21 airliner are made by General Electric.
 
The establishment of AECC will help China reduce its reliance on foreign producers and potentially develop a self-sufficient aerospace sector to meet the requirements of domestic commercial and military aviation.
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Top German official: EU-U.S. free trade talks have failed www.cnn.com

President Obama's free trade deal with Europe is going nowhere, a top German politician has said.
"The negotiations with the U.S. have de facto failed," Sigmar Gabriel said during an interview with German television ZDF.
Gabriel is Germany's minister for Economic Affairs and Energy and also deputy to Chancellor Angela Merkel.
The Trans-Atlantic Trade and Investment Partnership (TTIP) was meant to be one of Obama's legacies, but talks with the European Union have stalled as opposition to the deal grows.
Gabriel said he was a supporter of free trade because German exporters, large and small, would benefit but such a deal could not be done "at any price."
The deal was supposed to span Europe and the U.S., covering more than half of the world's economic output and 800 million people. It has been in the works since June 2013 and Obama's administration is still hoping to reach an agreement before the president leaves office in January.
But the negotiations have been moving at glacial pace. The 14th round of negotiations wrapped up in July, without a significant breakthrough on the most problematic issues.
"We Europeans cannot subject ourselves to American demands, there's no movement there," Gabriel said.
The European Commission, which is leading the negotiations on behalf of EU states, insists a deal is still possible by the end of 2016.
"The ball is rolling right now and the Commission is making steady progress...provided the conditions are right, the Commission stands ready to close this deal by the end of the year," said Margaritis Schinas, the chief spokesperson of the European Commission.

But Schinas repeated a statement made by European Commission President Jean-Claude Juncker two years ago that officials would not "sacrifice Europe's safety, health, social and data protection standards or our cultural diversity on the altar of free trade."
Supporters say the deal would create more than a million jobs. The European Commission says it would be worth 545 euros ($620) to each European citizen every year.
But more than 3.2 million people have signed a petition to stop TTIP, and another EU trade deal with Canada.
They are angry that the talks are being held in secret. The TTIP draft has been kept under wraps -- which is not unusual for big trade agreements. WikiLeaks has offered 100,000 euros ($114,000) for the documents.

SAVINGS RATES BY SAVINGS RATES BY
European labor unions and pressure groups argue the deal will give too much power to big U.S. corporations, because it would make it easier for them to sue governments over laws they claim hurt their business.
Opponents also say the deal could lead to more privatization of public services, including education and healthcare. European Commission says these sectors will not be included in the agreement, but leaks from the negotiations suggest the U.S. is pushing hard for access.
Many in Europe are also worried the deal could lead to a watering down of Europe's existing regulations on food safety and environmental protection, which are often a lot stricter than in the U.S.

Opposition to TTIP is also growing in the U.S. Republican presidential nominee Donald Trump has repeatedly criticized free trade agreements, including NAFTA and the Trans-Pacific Partnership, saying they are "an attack on America's business."
Hillary Clinton backed big free trade agreements when she was Secretary of State, but she too is now voicing concerns.

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Fukushima nuclear plant prepares for typhoon www.nhk.or.jp

The operator of the troubled Fukushima Daiichi nuclear power plant is preparing for the powerful Typhoon Lionrock.

Tokyo Electric Power Company says on Monday workers secured electric cables and hoses.

TEPCO says on Tuesday it will suspend work with cranes and other operations at the plant's port, which could bear the brunt of strong winds and waves. Depending on weather conditions, the firm may also call off outdoor work in other areas.

It says when the most recent typhoon approached last week, heavy rain caused underground water levels to rise and threatened to flush contaminated water into the harbor.

Workers are arranging pumps to draw up more ground water, and setting up additional pumps at wells used to observe water levels.

There were concerns in the past that a downpour brought by a typhoon could cause contaminated rain water to flow through a drainage channel into the ocean.

To address these fears, TEPCO rerouted the drainage system into the plant's inside port. It also raised the levels of barriers around tanks that store tainted water.

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