1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

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14809 personnel working in risky conditions to receive bonus www.montsame.mn

Ulaanbaatar/MONTSAME/. Deputy Prime Minister Ya. Sodbaatar introduced the decision of the irregular Cabinet meeting held today.
He said, “The Cabinet has just held its irregular meeting and resolved some issues.
First, bonus payments for doctors, health workers, emergency personnel, and police officers, who are working in risky conditions to combat the COVID-19, have been resolved. In the first turn, 14809 people will receive the bonus, which will be disbursed by the government’s reserve fund.
Second, the Cabinet has made two decisions related to the food supply. First, a Bill on exempting certain types of goods from VAT will be submitted to the Parliament for consideration. Second, a Bill to amend the Customs Tax Law will be submitted to the Parliament for urgent consideration.
Third, the Cabinet has decided to allocate specific funds for the purchase of wheat from abroad with a purpose to create food security reserves."
In addition, today, corresponding ministers got acquainted with situations of livelihoods of vulnerable groups, dormitories, and energy and water supply, and ensured required preparations.
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Australian coal exports to China slump, but prices are mixed www.reuters.com

China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in November. But something odd is happening with prices.
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China imports two main types of coal from Australia, coking coal used to make steel and thermal coal, used predominantly to generate power, but which can also be used in industrial processes such as cement and ceramics.
As you may expect, the lower Chinese demand for coking coal has hit prices, with Singapore Exchange futures SCAFc1, which mirror free-on-board Australian prices, dropping to a four-year low of $104.86 a tonne on Friday.
This is down 25.1% from the recent peak of $140 a tonne on Oct. 5, hit just before reports started emerging of Chinese officials giving unofficial verbal instructions to traders and steel mills to halt purchases of Australian coal.
While Beijing has made no official comment on banning Australian coal imports, along with commodities such as copper ores, lobsters and barley, China has made clear its anger over Canberra’s call for an international probe of the origins and early response to the coronavirus pandemic.
Unlike coking coal, however, the price of benchmark Australian thermal coal at the main port of Newcastle has been moving in the opposite direction.
Newcastle coal futures traded on the ICE Exchange NCFMc1 closed at $63.25 a tonne on Friday, down slightly from the prior day’s close of $62.30, which was the highest in seven months.
The contract has gained 30.4% since this year’s low of $48.50 on Sept. 7, and has also rallied about 7% since the start of November.
The Newcastle weekly index ARGMCCINDX=ARG, as assessed by commodity price reporting agency Argus, ended last week at $58.30 a tonne, also the highest since mid-April and about 26% above this year’s low of $46.37 from the first week in September.
The question is why the price of Australian thermal coal should be rising amid an effective ban by China, especially since volumes appear to be plummeting.
Australia’s exports of both coking and thermal coal to China were 3.35 million tonnes in October, up slightly from September’s 3.31 million, but dramatically down from 12.33 million in June, the strongest month so far this year, according to vessel-tracking data compiled by Refinitiv.
The sharp drop in recent months appears likely to get worse in the current month, with just four vessels having loaded coal until now with China as a destination.
While the data only reflects the first half of November, it is worth noting that October saw 33 ships depart Australia for China, and the peak month of June saw 124 departures.
Australia surviving without China?
However, the shipping data also shows that Australia’s total exports have not been too badly affected, with October departures of 29.34 million tonnes only slightly below September’s 29.86 million and the 32.7 million from the peak month this year of June.
This suggests that Australia has managed to find other customers for the coal that China is not taking, and indeed exports to India in the three months to October were the highest since April, with September’s figure of 5.97 million tonnes the highest in Refinitiv data going back to the start of 2015.
However, India’s coal imports from Australia are overwhelmingly coking coal and therefore should have little impact on the price of thermal coal.
Outside China, Australia’s major thermal coal customers are Japan and South Korea, which present a more positive picture for Australian coal miners.
Australia’s exports to Japan have picked up slightly in recent months, with October’s 8.3 million tonnes and September’s 8.45 million being the best since March.
Shipments to South Korea were 4.95 million tonnes in October, up from 4.24 million in September and the strongest since December last year.
Another factor is that China is having to scramble to source alternative supplies of thermal coal, and there are few countries that can easily step up and deliver coal of the same quality as Australia.
One of those is South Africa, where the price of thermal coal at the main export port of Richards Bay API4INDEX=ARG, has been rallying, ending at $67.09 a tonne for the week to Friday, up 17.5% from a recent low in mid-October.
The rising price of alternatives to Australia’s Newcastle has the effect of dragging up the price there as well, notwithstanding Chinese buyers’ withdrawal from the Australian market.
It is also likely that some global trading players have taken bullish positions in anticipation of Chinese traders trying to find alternatives to Australian cargoes.
Overall, what appears to be happening is that the thermal coal market is adjusting to the increased likelihood that China will buy less from Australia, and more from elsewhere, even if it ends up in higher prices for a period.
(Editing by Clarence Fernandez)
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Airbnb plans public share sale despite pandemic www.bbc.com

Lodging website Airbnb has filed papers in the US to become a publicly listed company in what is one of the most-anticipated launches of the year.
Since its founding as home-sharing site in 2008, the San Francisco tech firm has grown into a global juggernaut.
Its rise has challenged traditional hotel rivals and cities coping with an influx of tourists to new areas.
And while the pandemic hurt the firm's already loss-making business, Airbnb said its model remains resilient.
The company reportedly hopes to raise about $3bn (£2.27bn) by selling shares in the listing, which could value the firm at more than $30bn.
IPO listing
"We believe that the lines between travel and living are blurring, and the global pandemic has accelerated the ability to live anywhere," the company said in its Securities and Exchange Commission filing for its initial public offering (IPO). "Our platform has proven adaptable to serve these new ways of traveling."
More than 4 million hosts list properties on the platform, 86% of which are located outside of the US. Last year, roughly 54 million people reserved stays through the company, which takes a cut of each booking.
But travel was hit hard by the pandemic, prompting the company to slash staff numbers by 25% and raise $2bn in emergency loans from investors to make it through the crisis.
The firm said bookings have since recovered somewhat, as people looked to escape locked down cities with long-term rentals. But they remain down about 20% in recent months compared to last year.
In 2019, the firm booked losses of more than $674m - a figure it has already surpassed in the first nine months of this year.
The firm, which brought in revenue of $4.8bn last year, also warned potential investors that revenue growth had slowed, a trend likely to continue.
Between 2018 and 2019, the firm's revenue grew more than 30%. But it fell more than 30% year-on-year in the first nine months of 2020, to $2.5bn from $3.7bn a year earlier.
Separately, shares of electric car maker Tesla jumped 9% in extended trade on Monday after S&P Dow Jones Indices said that the company would join the S&P 500 index. It will join on 21 December.
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Prime Minister gives orders to government officials www.montsame.mn

Ulaanbaatar /MONTSAME/ At its extended meeting on November 15, the Cabinet backed the State Emergency Commission’s proposal to extend the heightened state of readiness for disaster protection or strict-lockdown by 14 days until 6 AM of December 1, approving a resolution. After the meeting, Prime Minister U.Khurelsukh gave the following orders to Cabinet members, state administrative officials, and aimag and capital city governors.
To speed up the detection of suspected cases, promptly control and stop the infection spread, and enhance public health protection and risk reduction,
To decontaminate infected public spaces, buildings, and surfaces with promptitude and supervise the decontamination efforts,
To prevent food supply disruptions, increase food and medication supply for vulnerable communities and dorm students, prevent domestic violence, and improve child protection,
To prevent interruption in supply of fuel, power, heat, and water, and oil transport.
While giving orders, the Prime Minister said the government must curb the infection spread within the period of heightened state of readiness and instructed citizens to stay at home, wash their hands, and wear masks and keep social distance when outside for essential activities.
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Peabody may be flirting with bankruptcy – IEEFA www.mining.com

Experts from the US-based Institute for Energy Economics and Financial Analysis published a commentary stating that Peabody Energy (NYSE: BTU), —the world’s largest private coal miner— seems to be flirting with bankruptcy just three-and-a-half years after emerging from its previous default.
According to Clark Williams-Derry, energy finance analyst at the IEEFA, and energy data analyst Seth Feaster, Peabody painted a bleak picture of the global coal market for its investors. The company said that demand for metallurgical coal used in steelmaking has yet to recover from the global impacts of the coronavirus, and the company expects only modest growth over the next several years.
However, Williams-Derry and Feaster point out that even though the covid-19 pandemic has deepened Peabody’s woes, as lower industrial electricity demand and low gas prices pushed coal to a record-low power market share of 15% in April, the company had already been posting losses for five consecutive quarters, revealing financial strains that long predated the current global economic slowdown.
When Q3-2020 ended, Peabody said that it expected to violate key terms of its credit agreement by December 31. The IEEFA says that this may lead to the miner to default on its debt, forcing a financial restructuring and potential wipeout for shareholders.
“Peabody held out hopes that rising demand from Asia could spur future growth, even though many Asian countries have cancelled or postponed new coal plant projects as they increasingly pivot to renewable generation,” the commentary reads.
“In recent months, governments have announced major national electricity policy shifts in Bangladesh, Vietnam, the Philippines, and Thailand. There have also been highly successful solar tenders from Malaysia and Myanmar that will further limit coal’s upside in Asia. Last month, Japan and South Korea announced ambitious net-zero emissions policy commitments, following China’s plans to become carbon neutral by 2060.”
In the view of Williams-Derry and Feaster, even though Peabody once seemed relatively immune to the changes sweeping through the sector, some of its biggest rivals — like Arch Resources — both in the U.S. and internationally have now outperformed it by shifting away from thermal coal in favour of higher-value metallurgical coal used in steelmaking.
“But Peabody, with its massive suite of thermal coal mines, has been either unable or unwilling to pivot to a more profitable or financially sustainable business model. As a result, the company’s revenues have fallen dramatically since 2018. As recently as mid-2018, Peabody’s share price stood at $45. Now, it is below $1 per share—a critical threshold that could force the New York Stock Exchange to remove Peabody from its listings.”
For the IEEFA analysts, the plunge in its share price hints at a growing financial market consensus that thermal coal is now on a long-term decline that is likely terminal.
“Once again, investors, creditors, workers, and the communities with company mines should brace themselves as Peabody struggles to survive amid rapidly changing markets and a deteriorating outlook for the highly polluting, carbon emissions-intensive, technologically challenged industry,” the article states.
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Mongolian MP’s to approve 2021 State Budget from home www.news.mn

Mongolia has imposed strict actions in order to take control over the recent local transmissions of coronavirus; banning residents leaving from leaving their homes. Subsequently, the Mongolian parliament is also closed and its sessions are taking place online. Today (13 November) law makers attended a parliament session online from home and discussed the 2021 State Budget.
According to the law, the Mongolian parliament must approve the 2021 State Budget before 15 November.
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RCEP: Asia-Pacific countries form world's largest trading bloc www.bbc.com

Fifteen countries have formed the world's largest trading bloc, covering nearly a third of the global economy.
The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia and New Zealand.
The pact is seen as an extension of China's influence in the region.
The deal excludes the US, which withdrew from a rival Asia-Pacific trade pact in 2017.
President Donald Trump pulled his country out of the Trans-Pacific Partnership (TPP) shortly after taking office. The deal was to involve 12 countries and was supported by Mr Trump's predecessor Barack Obama as a way to counter China's surging power in the region.
Negotiations over the RCEP began in 2012. The deal was signed on Sunday on the sidelines of a meeting of the Association of Southeast Asian Nations (Asean), hosted by Vietnam.
"I am delighted to say that after eight years of hard work, as of today, we have officially brought RCEP negotiations to a conclusion for signing," said Vietnam's Prime Minister Nguyen Xuan Phuc.
Officials took turns signing copies of the agreement and showing them off on camera at the virtual summit.
Leaders hope that the deal will help to spur recovery from the coronavirus pandemic.
"Under the current global circumstances, the fact the RCEP has been signed after eight years of negotiations brings a ray of light and hope amid the clouds," said Chinese Premier Li Keqiang.
Mr Li described the agreement as "a victory of multilateralism and free trade".
India was also part of the negotiations, but it pulled out last year over concerns that lower tariffs could hurt local producers.
Signatories of the deal said the door remained open for India to join in the future.
Members of the RCEP make up nearly a third of the world's population and account for 29% of global gross domestic product.
The new free trade bloc will be bigger than both the US-Mexico-Canada Agreement and the European Union.
The RCEP is expected to eliminate a range of tariffs on imports within 20 years.
It also includes provisions on intellectual property, telecommunications, financial services, e-commerce and professional services.
But it's possible the new "rules of origin" - which officially define where a product comes from - will have the biggest impact.
Already many member states have free trade agreements (FTA) with each other, but there are limitations.
"The existing FTAs can be very complicated to use compared to RCEP," said Deborah Elms from the Asian Trade Centre.
Businesses with global supply chains might face tariffs even within an FTA because their products contain components that are made elsewhere.
A product made in Indonesia that contains Australian parts, for example, might face tariffs elsewhere in the Asean free trade zone.
Under RCEP, parts from any member nation would be treated equally, which might give companies in RCEP countries an incentive to look within the trade region for suppliers.
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China builds more 5G stations than rest of world combined, while those lagging behind back off from its technology www.rt.com

Beijing boasts that it’s installed around 700,000 5G base stations across the country – more than it had planned to have by year’s end, beating other major powers in the development of the superfast mobile networks.
The figure was announced by Ministry of Industry and Information Technology (MIIT) vice-minister Liu Liehong earlier this week. While the official did not provide data from other countries, he noted that his country has managed to build twice the number of 5G installations than the rest of the world.
The network is currently connecting more than 180 million devices in China. With growing customer interest in the technology, the country is set to further accelerate 5G development and boost investment in this strategic sphere. It was earlier reported that three of the largest Chinese state-run telecom companies may quadruple their 5G spending this year, to reach 180 billion yuan ($25 billion). Industry players are reportedly expecting that China’s investment in 5G will exceed 800 billion yuan ($121 billion) in the 2021-to-2025 period.
Most European countries are far behind the Asian power when it comes to the development of the next-generation networks. According to the latest analysis from the European Round Table for industry (ERT), more than half of EU member states have not yet launched 5G for commercial use.
The ERT data shows that South Korea is ahead the rest in terms of the number of 5G stations per capita, followed by Switzerland and China. The European Union as whole has the least number of 5G stations per citizen, while the US and the UK also lag behind China. However, by the total amount of installations providing access to the ultra-fast networks, China still seems to be outperforming its peers.
Washington has for long been pushing and even offering money to its allies to avoid using Chinese technologies and to ditch Huawei, one of the world’s leading suppliers of 5G equipment. While a number of countries are still standing their ground, others, such as the UK and Sweden, have already caved in to US pressure.
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Trump's coal rescue was doomed from the beginning www.cnn.com

New York (CNN Business)Coal giant Peabody Energy emerged from a near-death trip through bankruptcy in April 2017, just in time to benefit from President Donald Trump's efforts to revive coal country.
Trump's improbable rise to the presidency was made possible in part by his even more improbable promise to save the beleaguered coal industry.
"We'll start winning, winning, winning, and you are going to be very proud, and for those miners, get ready because you're going to be working your asses off!" then-candidate Trump told West Virginia in May 2016.
Once in the White House, Trump followed up those promises by gutting Obama-era environmental regulations, withdrawing the United States from the Paris climate accord (to effusive praise from coal execs) and installing a former coal lobbyist to run the EPA. The president even claimed that the noise from wind turbines causes cancer. (FYI: it doesn't.)
At first, Peabody Energy (BTU) benefited from Trump's pro-coal agenda. By June 2018, the coal company's market valuation swelled to $5.9 billion.
But Trump's coal rescue never stood a chance, because no amount of red tape cutting could overcome the power of market forces. The United States has a glut of cheap natural gas. Plunging solar and wind costs mean renewable energy is on a level playing field with fossil fuels.
Coal simply can't compete, much to the dismay of Appalachia's coal communities. If anything, the collapse of coal accelerated during the Trump era, wiping out even more jobs and dashing the hopes of unemployed coal miners.
Dozens of coal-fired power plants closed during Trump's time in office. In 2019, US coal consumption fell for the sixth straight year, sinking to the weakest level since 1964. And for the first time since the 19th century, the United States consumed more energy from renewable sources like solar than from coal.
Peabody Energy, now the world's largest private coal mining company, is once again cutting jobs and flirting with bankruptcy. The company's share price has plummeted 96% since it began trading in April 2017. Peabody's market valuation has dwindled to just $100 million from its all time high of $5.9 billion two-and-a-half years ago.
"Markets are more powerful than politics," Jeff McDermott, head of Nomura Greentech, Nomura's clean energy investment banking department, told CNN Business.
Peabody's bankruptcy warning speaks volumes
Despite Trump's efforts to slash regulations, the coal industry is suffering from weak prices, anemic demand and capital flight away from fossil fuels in favor of cleaner alternatives. Solar stocks in particular are booming.
"The market is looking into the future and having greater confidence that renewables are going to be larger and high-carbon will be less valuable," McDermott said.
Earlier this month, Peabody Energy disclosed its third-straight quarterly loss as revenue tumbled a whopping 39%.
In a November 9 SEC filing, Peabody said that its weak results, "market conditions," and lender demands "raise substantial doubt" about whether the company can meet its obligations and "its ability to continue as a going concern."
In other words, Peabody soon could be forced back into bankruptcy for the second time in three-and-a-half years. The company had just $11.5 million remaining on its revolving credit facility as of the end of October, down from nearly $500 million at the end of 2019.
"As coal's decline continues, it will likely push Peabody Energy, the former standard-bearer for the global coal industry, into financial oblivion," according to a report by the Institute for Energy Economics and Financial Analysis, a group that aims to accelerate the energy transition.
Weak demand for coal
Trump-appointed regulators dealt Peabody a major blow. In February, the Federal Trade Commission moved to kill an alliance with rival Arch Coal (ARCH), another company trying to recover from a 2016 bankruptcy. A judge sided with the FTC and the companies abandoned their transaction in September.
Peabody is cutting jobs, idling mines and working with its creditors to try to stay afloat.
"While we have made progress, there is still more to do," Peabody CEO Glenn Kellow said in the company's earnings report.
A Peabody bankruptcy would follow the October 2019 bankruptcy of Murray Energy, the miner led by Trump backer Robert Murray, who died last month. The company emerged from bankruptcy in September after selling most of its assets.
Like many other industries, coal miners are being hurt by the pandemic, which derailed factory activity. Peabody said demand for metallurgical coal, which is used in steelmaking, has not recovered from pre-crisis levels.
Meanwhile, demand for thermal coal, which fuels power plants, has been in steady decline. A growing number of power companies are ditching coal in favor of natural gas and increasingly affordable solar and wind. Some utilities that once relied on coal, including Xcel Energy and PSEG, are promising to get to net-zero carbon emissions by 2050.
Solar could be king by 2025
These trends are unlikely to reverse, especially after Trump's projected defeat by Joe Biden, a Democrat promising to aggressively invest in clean energy and return the United States to the Paris climate accord.
Despite an initial slowdown caused by the pandemic, the United States is expected to add more than 23 gigawatts of wind turbine generating capacity this year -- blowing away the 2012 record of 13.2 gigawatts, according to the US Energy Information Administration.
Renewables are projected to account for a staggering 95% of the increase in global power capacity through 2025, according to the International Energy Agency. Solar is expected to account for 60% of renewable growth, with wind providing another 30%.
"Demand for solar is as good as it's ever been," SunPower CEO Tom Werner said in an interview.
By 2025, renewables will overtake coal to become the largest source of power generation worldwide, accounting for one-third of electricity, the IEA said.
Extreme weather events, including wildfires in California and huge hurricanes in the Gulf Coast, have raised awareness of the climate crisis. Solar rooftops are gaining popularity and major companies including Mondelez (MDLZ), Adobe (ADBE), Facebook (FB) and General Motors have agreed to purchase vast amounts of renewable energy. Even General Electric (GE), one of the world's largest makers of coal-fired power plants, recently promised not to build new ones.
McDermott, the Normura clean energy banker, is taken aback by how the Trump era has played out for the renewable energy industry.
"When Trump won in 2016, I remember thinking this would be awful for our business," he said. "Instead, it was the greatest four years of our history."
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Mongolia to impose national lockdown www.menafn.com

In order to halt the growing record of the positive coronavirus infections across the state, the Mongolian government on Sunday prolonged a national lockdown by two weeks until Dec. 1.
Mongolia declared a nationwide lockdown to take effect as of 6 a.m. on Thursday (2200 GMT Wednesday) after the country confirmed its first COVID-19 case of local transmission, including a woman who is the wife of a 29-year-old infected Mongolian transport driver.
The driver returned home from Russia via Altanbulag border point and tested positive for the virus four days after he was released from the 21-day mandatory isolation on Nov. 6.
During a news briefing, the Yangu Sodbaatar, the country's deputy prime minister said that decision came as part of the efforts to isolate all people who have had close interaction with already-recognized local infections in the state.
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