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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Australia blocks Chinese firm from stake in electricity grid www.bbc.com

Australia's government has preliminarily blocked Chinese and Hong Kong bidders from taking a controlling stake in the country's largest electricity network, citing worries over national security.
In a statement to the media, the Australian Treasurer Scott Morrison has said the foreign investment proposals from Chinese and Hong Kong bidders "were contrary to the national interest."
China's State Grid Corp and Hong Kong's Cheung Kong Infrastructure Holdings were attempting to buy a 50.4% controlling stake in Ausgrid, which is New South Wales's electricity distribution network - the largest in the country.
Neither has commented so far on the blocking of this sale, but undoubtedly the reaction in Chinese media will be one of outrage.
Australia's move comes as the UK has postponed approval for the Hinkley Point nuclear power project, in which China's General Nuclear Power Corporation will have a minority stake, on similar concerns.
The power grid sale, which is reportedly worth around $7.5bn (£5.8bn), would have allowed the Chinese and Hong Kong bidders to acquire the controlling stake in Ausgrid for 99 years.
Ausgrid was appealing to international investors because it is seen as yielding stable and positive returns.
Chinese companies have been on a global acquisition spree, buying up resources and power firms in Asia as I've been reporting. Take the Edra asset in Malaysia for example, which was also not without controversy.
But Australia's Mr Morrison said that during the review process, national security issues were identified in critical power and communications services that Ausgrid provides to business and governments.
Mr Morisson said the bidders need to address these concerns, and that they have until 18 August to submit their proposals to him, at which time a final decision will be made on the project.
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Japan's machinery orders up in June www3.nhk.or.jp

Japan's machinery orders for June rose for the first time in 3 months.
 
The Cabinet Office on Wednesday released the data, which indicates future capital spending by Japanese companies. They say orders rose by 8.3 percent from May.
 
The figure excludes the shipbuilding and power sectors, which tend to see large fluctuations.
 
Orders from manufacturers jumped 17.7 percent in June, as orders for airplane parts rose.
 
Orders from non-manufacturers increased by 2.1 percent, mainly due to demand for rail vehicles.
 
Cabinet Office officials say large-scale orders pushed up the June figure. But they maintained their basic assessment that over the past 3 months as a whole, orders were at a standstill.
 
The officials also released their outlook for the July-to-September quarter. They predict an increase of 5.2 percent from the previous 3-month period.
 
They say the increase will be partly due to the effects of government subsidies.
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BMW to recall nearly 12,000 vehicles in S. Korea for faulty baby seat latch www.xinhuanet.com

SEOUL, German carmaker BMW is required to recall about 12,000 vehicles for faulty baby seat latch, Seoul's transportation ministry said on Wednesday.
 
BMW Korea, the South Korean importer and distributor of BMW brand, will be subject to recalling 11,968 vehicles of 11 models, including X3 xDrive20i, that were produced between Nov. 19, 2010 and April 15 this year, according to the Ministry of Land, Infrastructure and Transport.
 
Welding defect was found from latches for baby seat of the models, raising possibility for baby seat not to be fixed properly, the ministry said.
 
Owners of the vehicles will be allowed to repair free of charge from next Friday.
 
GM Korea, the South Korean unit of U.S.-based General Motors, will be subject to recalling 384 vehicles of Malibu and Alpheon models that were manufactured between July 9 and July 13.
 
Those vehicles have a faulty buckle in back seat belt. Owners of the vehicles can exchange the buckles free of charge from next Wednesday.
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Copper price falls again despite monster Chinese imports www.mining.com

In New York trade on Tuesday copper for delivery in September suffered another down day despite indications of continued strong Chinese demand.
 
Copper dipped to $2.14 per pound ($4,718 a tonne), a four-week low. While other industrial metals and steelmaking raw materials have jumped in value this year, industry bellwether copper has been underperforming badly. The red metal is now trading flat year to date following a 26% decline in 2015.
 
China is responsible for more than 45% of copper demand and according to customs data released yesterday the country's imports of unwrought copper and copper products were 360,000 tonnes during July.
 
That's a 14.3% decline from June which was mostly ascribed to seasonal factors but shipment still showed a slight improvement compared to July 2015 . For the first seven months refined imports are by nearly one-fifth at 3.1 million tonnes from the same period last year. Imports of refined metal hit a record 570,000 tonnes in March.
 
The increase in copper concentrate imports are even more dramatic. Chinese smelters imported 1.38 million tonnes or 2.2% more concentrate last month than June.
 
Compared to July last year concentrate imports surged 42.8%. For the first seven months imports are up 36% at 9.4 million tonnes. Concentrate imports hit an all-time high in December.
 
"You'll have to wait a few more weeks, or maybe one or two months, until the seasonally low demand from China is over and demand picks up," Daniel Briesemann at Commerzbank in Frankfurt told CNBC after the release of the import data:
 
Commerzbank's outlook is much sunnier than other analysts. Consensus forecast of 30 institutions compiled by FocusEconomics in July sees copper averaging $4,867 in the final quarter of 2016 and $5,168 in Q4 2017.
 
Goldman Sachs came out with a particularly bearish forecast on Friday and the investment bank now predicts double digit declines for the metal to a low of $1.80 per pound 12 months from now as a wall of new supply from Chile, Peru and Zambia hits the market.
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KFC told to stop using chicken treated with antibiotics www.bbc.com

The company that owns Kentucky Fried Chicken is facing new calls to stop using poultry that has been treated with antibiotics.
US consumer groups will deliver a petition signed by more than 350,000 people to Yum Brands on Wednesday.
KFC has already promised to limit the use of human antibiotics in its chicken by next year.
However, critics claim the policy effectively allows for routine use of antibiotics by its chicken suppliers.
The chain does not allow the use of antibiotics to promote the growth of poultry in line with federal government rules.
A KFC spokesperson said it was reviewing whether it could force suppliers to go beyond Food and Drug Administration rules on antibiotics usage.
"KFC is lagging woefully behind - diners around the country want KFC to step up," said Lena Brook of the Natural Resources Defense Council, which is one of the groups delivering petitions to KFC headquarters in Louisville, Kentucky.
The action comes a day after Yum investors submitted a proposal asking that the company to speed up plans to stop using antibiotics in its meat.
Other Yum brand chains - Taco Bell and Pizza Hut - plan to cut the use of chicken treated with antibiotics by early next year.
Medical experts warn that the routine use of antibiotics to promote growth and prevent illness in farm animals contributes to the rise of drug-resistant "superbug" infections that kill at least 23,000 Americans each year and represent a significant threat to global health.
Fast food restaurants have become a focal point for change in the food industry by forcing suppliers to change their practices.
Last week McDonald's said it had switched to antibiotic-free chickens in the US and Canada.
Chick-fil-A, another big US fast food chicken chain, has promised to use only antibiotic-free chickens by 2019.

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Dollar weakens, Fed policy in focus www.reuters.com

The U.S. dollar fell on Wednesday as investors awaited a speech by Federal Reserve Chair Janet Yellen later this month in the absence of new major economic reports that could provide signs of economic strength.
 
The greenback gained after Friday's jobs report for July showed better-than-expected employment gains, raising prospects for a further rate increase this year. It has since given back those gains.
 
"It's been a fairly broad trend of dollar selling this week," said Vassili Serebriakov, FX strategist at Credit Agricole in New York.
 
Data on Tuesday showing that U.S. nonfarm productivity fell in the second quarter helped weigh on the dollar.
 
Falling Treasury yields on Wednesday also helped weaken the greenback.
 
Investors expecting a more hawkish tone from Yellen at the U.S. central bank's Aug. 26 symposium in Jackson Hole, Wyoming, may hold off on placing their bets until closer to the event, analysts said.
 
"There is a window of opportunity to be short dollars without the threat of a hawkish Fed message for a couple of weeks," said Serebriakov. "That is probably partly driving the market."
 
The dollar index against a basket of currencies fell 0.53 percent to 95.673, after dropping to 95.442, the lowest since last Thursday.
 
The dollar pared losses after oil prices turned negative.
 
The greenback was 0.64 percent weaker against the Japanese yen at 101.24 and 0.47 percent lower against the euro at $1.1170.
 
The next major U.S. economic indicator will be Friday's retail sales report for July.
 
Reduced liquidity, as investors and traders take summer vacations, is seen as exaggerating price moves.
 
The Australian dollar advanced to a more than three-month peak of $0.7756, before falling back to $0.7704, buoyed this week by Australia's relatively high yields and stronger investor appetite for risk.
 
"Part of the Australian dollar's resilience is the lack of follow-through in pricing for a Fed hike in September, limiting the U.S. dollar's gains," analysts at Westpac said in a note.
 
The British pound was steady at $1.3005, after rising to $1.3094. It fell to $1.2956 on Tuesday, its lowest since July 11.
 
The Reserve Bank of New Zealand is expected to be the next central bank to cut rates, by 25 basis points to 2.00 percent on Thursday.
 
The kiwi gained 0.63 percent against the U.S. dollar to $0.7209.
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Russia to develop India’s nuclear power industry www.rt.com

An agreement to construct the third stage of India’s Kudankulam nuclear power plant is expected by year end, said Russian President Vladimir Putin on Wednesday.
 
"We have big plans with our Indian friends in the area of nuclear energy. Construction work on the third and fourth blocks of the plant started in February. We expect to sign a general framework agreement and a credit line for the construction of a third stage by the end of this year," Putin said during a video conference dedicated to the handover of the plant’s first power unit to India.
 
The power station is currently being built by the Russian nuclear corporation Rosatom as part of a deal signed between Moscow and New Delhi in 1998.
 
Putting into operation the first and second reactors of the Kudankulam nuclear power plant (NPP) will enhance India’s energy supply and strengthen its economic position, said Putin adding that eighty percent of the project’s financing is covered by a Russian loan.
 
Indian Prime Minister Narendra Modi said the country plans to build a number of 1,000-megawatt nuclear power plants with Russia.
 
“In the years ahead we are determined to pursue an ambitious agenda of nuclear power generation. At Kudankulam alone, five more reactors of 1,000 megawatt each are planned. In terms of our cooperation with Russia, we plan to build a series of bigger nuclear power plants," Modi said.
 
Two years ago Russia and India signed an agreement to construct the NPP’s second stage, including the third and fourth blocks. During Modi’s visit to Moscow in December the sides decided to develop a road map for cooperation in nuclear energy which envisages the construction of 15 nuclear reactors in India, including at the Kudankulam site.
 
At the moment, Russia is the only country cooperating with India on nuclear energy. The first reactor at the Kudankulam NPP is among the most powerful in India, and meets the latest safety requirements. The second generator is planned to start operating in the coming months.
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China steps in to tighten rare-metal markets www.asia.nikkei.com

TOKYO -- China is stockpiling rare metals and curbing output to tighten global markets, pushing up prices of some materials despite sluggish underlying demand.
 
The metalloid antimony went for around $7,100 a ton on the London spot market in early August. This marked a climb of a little over 10% from a recent low in early June, as well as a one-year high.
 
Over the past year, antimony has for the most part traded at $5,000 to $7,000 a ton, weighed down by sluggish demand and overproduction. China, which produces roughly 80% of the metalloid worldwide, has cracked down on smuggling and in early spring began using environmental regulations to halt operations at major producers. But this resulted in only a slight upturn in prices on the international market.
 
The recent surge came after the government said it would stockpile a total of 10,000 tons of the metalloid in two rounds: one in July, and the other in October. This spurred expectations of coming cuts to excess inventory, encouraging buying.
 
Don't care much
 
Global demand for antimony amounts to some 60,000 tons a year. China's stockpiling is thus "large enough to have a fair impact," said an official of Nihon Seiko, a major producer of antimony compounds.
 
But consumers of the metalloid appear unperturbed. Antimony trioxide is often added as a flame retardant to plastics used in electronic devices and autoparts. Yet demand has grown sluggish in the U.S. and Japan. "We never have to rush" to obtain antimony or its derivatives, a source at a nonferrous-metal trading house said. "If we put out a call, we could buy some immediately."
 
China has also stepped into the market for tungsten, used to make highly durable carbide tools. Market benchmark ammonium paratungstate, or ATP, traded at around $195 for 10kg in early August -- up 8% from a recent low in mid-July. The Chinese government in April began stockpiling 10,000 tons of the metal, or roughly a tenth of annual domestic production, causing prices to surge. But slowing demand for construction machinery and industrial tools put the market in decline once again in June and onward.
 
Not what we need
 
China's six leading producers of rare-earth metals, used widely in electronics, are set to stockpile around 5,000 tons of the materials this year. The government aims to buy up around 15,000 tons of rare earths from those suppliers for its own reserve. But the prices it is offering do not even meet the costs of production. So the stockpile plan has run aground, with no one willing to sell.
 
Rare-earth prices on the world market are sliding as companies outside China work to cut back on consumption. "Without demand, high prices won't remain that way for long," said Yoshikazu Watanabe, president of Japanese nonferrous-metal consultancy Tsukushi Shigen Consul.
 
The U.S. and the European Union in July challenged Chinese export restrictions on several raw materials, including antimony ore and other forms of the element, under the World Trade Organization. But global prices have felt little impact. Japan, which imports antimony as a base element and in oxide form, is not involved in the challenge, according to a Japanese trading house.
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BP seeks buyers for petrochem JV stake www.chinadaily.com

British oil major BP Plc is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2 billion to $3 billion, people familiar with the matter said.
 
BP has hired an investment bank to sell its shareholding in Shanghai SECCO Petrochemical Co Ltd as part of a drive to cash out of businesses where it lacks control, the sources added.
 
A successful deal would mark BP's first significant exit from a business in China.
 
Situated in Caojing near Shanghai, SECCO is China's largest petrochemicals refinery and was built at a cost of $2.7 billion, according to BP's website.
 
State-owned China Petroleum & Chemical Corp, known as Sinopec, and one of its units hold the other half of SECCO, according to the website.
 
A London-based BP spokesman declined to comment, and Sinopec did not offer immediate comment.
 
SECCO, a venture formed in 2001, produces ethylene and propylene, which are used to make resins, plastics and synthetic rubbers.
 
While Sinopec has the right of first refusal on the potential sale, bankers said Chinese State-owned enterprises are unlikely to step in to buy the stake.
 
BP's stake has been marketed to existing refinery operators in China, including companies from Japan, South Korea and Europe, the sources added.
 
BP, like other global oil and gas companies, has been sharpening its focus on costs and core businesses as it reels from lower oil prices.
 
It has sold more than $50 billion of assets since the deadly 2010 Gulf of Mexico oil spill in order to pay for cleanup costs and legal bills. This year, it plans to offload between $3 billion and $5 billion worth of assets, of which $1.9 billion has been agreed, it said when releasing second-quarter earnings last month.
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U.S. has more untapped oil than Saudi Arabia or Russia www.cnn.com

Move over, Saudi Arabia and Russia. America now has more untapped oil than any other country on the planet.
That's according to a new report from Rystad Energy that estimates the U.S. is sitting on an incredible 264 billion barrels of oil reserves. It includes oil in existing fields, new projects, recent discoveries as well as projections in undiscovered fields.
More than half of America's untapped oil is unconventional shale oil, according to Rystad. Shale oil is the previously-unreachable crude that, thanks to fracking and new technology, has reshaped the global energy landscape and vaulted the U.S. into the upper echelon of global oil producers.
"This has been a revolution. Ten years ago nobody would have dreamt this would have been the result," Jarand Rystad, CEO of Rystad Energy, told CNNMoney.
The findings suggest the U.S. could shoulder even more of the weight of global oil production in the future, especially as prices recover. U.S. output has declined modestly over the past year as a result of oil prices crashing to levels that aren't profitable for all but the best shale oil fields.
But there are seas of oil just waiting to get tapped once oil prices rebound. Texas, home to the Eagle Ford, Permian and Barnett shale oil plays, holds more than 60 billion barrels of shale oil alone, Rystad estimates. That's more than the untapped oil in all of China. There are also vast sums of oil beneath the ground in North Dakota, where the Bakken shale oil play sits.
Thanks to the shale oil boom, the U.S. is now sitting on more oil reserves than Russia, which Rystad estimates as having 256 billion barrels of untapped oil. The next-richest countries in terms of oil after that are: Saudi Arabia (212 billion), Canada (167 billion), Iran (143 billion) and Brazil (120 billion).
Rystad, an independent research firm based in Norway, argues its estimate does a better job of capturing the real picture of global oil reserves than more conservative metrics often cited.
For example, the closely-followed BP Statistical Review pegs U.S. oil reserves at just 55 billion barrels, compared with 301 billion barrels for Venezuela. But Rystad notes that BP relies on numbers reported by national authorities and Venezuela's figures include undiscovered oil. Rystad also points out that countries often exaggerate their oil reserve figures to inflate their standings within OPEC.
"The upside potential is much larger in the United States," Rystad said.
All told, the world has 2.1 trillion barrels of untapped oil, or 70 times the current global annual production rate, Rystad estimates.
While that may sound like a ton of oil, Rystad argues it's actually proof that "there is a relatively limited amount of recoverable oil left on the planet."
That's a big deal given the fact global oil demand continues to grow, even in today's sluggish economy. Many expect that growth to remain steady or even accelerate as people in fast-growing economies like India and China buy cars.
"Oil alone cannot satisfy the growing need for individual transport," Rystad concludes.
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