1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      ОЛОН УЛСЫН ИННОВАЦИЙН ИНДЕКСЭЭР МОНГОЛ УЛС 53-Т ЖАГСЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/17     ШАДАР САЙД НҮБ-ЫН ӨНДӨР ТҮВШНИЙ УУЛЗАЛТАД ОРОЛЦОЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     МАНАЙ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛ ДЭЭШИЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/16     “ЭРДЭНЭС-ТАВАНТОЛГОЙ” 40 САЯ ДАХЬ ТОНН НҮҮРСЭЭ ОЛБОРЛОЖЭЭ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/07/16    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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China no longer wants Western garbage www.rt.com

The European Union (EU) has announced its first-ever Europe-wide strategy on plastics recycling. It followed China’s ban on imports of waste from Western countries.
All plastic packaging in the European market will be recyclable by 2030, said the EU Commission in a press release. The consumption of single-use plastics will be reduced and the intentional use of microplastics will be restricted, it added.

Bottles, bags or cups: single-use plastics represent half of the items found on EU beaches but can take 500 years to breakdown into smaller pieces. Later this year, we will come forward with a proposal on single-use plastics #PlasticsStrategy

An additional fund of €100 million ($122.4 million) has been committed to finance efficient recycling technology, and to boost innovation in plastic recycling.

Global production of plastics has increased twentyfold since the 1960s, according to the EU. It estimated that every year Europeans generate 25 million tons of plastic waste, of which less than 30 percent is collected for recycling.

“If we don't change the way we produce and use plastics, there will be more plastics than fish in our oceans by 2050. We must stop plastics getting into our water, our food, and even our bodies,” said EU Commission First Vice President Frans Timmermans.

We also want to restrict the use of microplastics intentionally added in cosmetics so that they don't end up in the sea and eventually in our food. #PlasticsStrategy

Last month Beijing banned the import of 24 types of waste from Western countries, saying the US and EU countries have flouted waste standard rules.

Notifying the World Trade Organization about its waste import ban, Chinese authorities said “that large amounts of dirty wastes or even hazardous wastes are mixed in the solid waste that can be used as raw materials. This polluted China's environment seriously.”

In 2017, Chinese manufacturers imported a whopping 7.3 million metric tons of waste metal, plastics, and paper worth $18 billion mostly from developed countries, according to the US Environmental Protection Agency (EPA).

The UK exported over 2.7 million tons of plastic waste to the Chinese mainland and Hong Kong-based recyclers in the last five years. Data showed that over one million ton of plastics worth $495 million have been exported to China by the US last year. The EU countries alone shipped 87 percent of the recycled plastic to China.

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Competitiveness report shows decline in governance performance www.montsame.mn

Ulaanbaatar /MONTSAME/ The Economic Policy and Competitiveness Research Center’s annual report on the Competitiveness of Provinces was released on January 17, showing decline in several indicators.

The annual study aims to give the 21 aimags of Mongolia a chance to identify their advantages and disadvantages, evaluate their capacities and determine their long-term development policies.

Opening the press conference on Wednesday, P.Tsagaan, Chairman of Board of the Economic Policy and Competitiveness Research Center said, “Competitiveness isn’t the name of financial capacity, it is a different characteristic. There is a common model of self-improvement based on such reports and assessment.” The study took account of 181 different indicators on each aimag based on statistical reports and survey. The Competitiveness of Provinces report has been released for the sixth time this year.

According to P.Tsagaan, who briefed the outcome of the study, the average competitiveness score of aimags decreased to 66 last year. The western region of Mongolia has seen the most significant decline in terms of competitiveness. “The governance performance indicator has also seen a major decline. In other words, the people’s trust in government is declining,” he said.

In 2017, economic indicators of five aimags increased in terms of amount whereas those of 15 aimags decreased. Orkhon aimag took the first place with 13.6 percent economic growth. Umnugobi aimag saw a 0.7 percent decline in its economy.
Kh.Aminaa

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MRPAM discloses prospective exploration projects www.gogo.mn

Mineral Resources and Petroleum Agency of Mongolia (MRPAM) presented 13 prospective projects in the mining industry. One-third of the projects consist of major gold deposits and the others include projects on tungsten-molybdenum, copper, rare-earth elements, lithium and uranium.

One of the deposits is a lithium deposit of Khukh Del. Alkali Metal Mongolia LLC has been granted the special permission to operate in the surveyed part of the deposit. However, the company is yet to start operations at present. Located in the Ulziit soum of Dundgobi aimag, the deposit has an estimated resource of 644.3 tons of ore with average grade of 0.153 percent lithium (992.2 thousand tons). Lithium is considered the lightest metal and is highly reactive. Therefore, it is mainly used for smartphone and electronic instrument batteries.

Along with the lithium deposit, a project on rare-earth elements is being implemented in Zavkhan soum, Uvs aimag. Geo-Info LLC, a national geological consulting firm, holds the special permission of the deposit, which reserves zircon and other rare-earth elements. The MRPAM informed that a report is being prepared on the exploration of the licensed area.

Another prospective project is the Uranium deposit in Ulaanbadrakh soum, Dornogobi aimag. Areva Mongol LLC holds the operating license of the deposit and is facing local resistance; thus, delaying the project significantly.

In addition, investments projects on copper and gold deposits in Kharmagtai has been increasing continuously. Xanadu Mines, an ASX-listed company, disclosed the drilling report near the end of 2017 and assessed “satisfactory”.

The list continued with two deposits in Uvs and Gobi-Altai aimags, where geological and exploration surveys were least conducted. Mongolian Resource Corporation owns the special permission to operate in the molybdenum and tungsten deposits.

Furthermore, Ivanhoe Mines Mongolia LLC has conducted an exploration between 2004-2009, which was then bought by Kincora Copper Ltd in 2012. The exploration of Bronze Fox Project has identified ore samples containing 0.5-1.5 percent copper. MRPAM also informed that a significant amount of gold can be extracted from the deposit. Presently, 1.5 grams of gold were found per ton of soil at depths of 1200 meters.

The main challenges for these projects have become the social licensing and local resistances. If these problems are resolved, the projects will attract guaranteed investments.

B.Bayartogtokh, B.Tugsbilig

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Construction sector growth index shrinks by 2.1 percent in January www.gogo.mn

Marketinfo.mn reports that the growth index for the construction sector has shrunk by 2.1 percent since the beginning of 2018.

Industry representatives say that companies are taking out loans in order to expand their operations and they end up with a deficit because of interest owed on loans.

The director of News Remicon LLC noted that the construction sector is expected to be back on track due to prices for exported building materials rising in 2018.

Investment in construction and building repair services in Mongolia totaled 3.1 trillion MNT in 2017 based on the preliminary results of an industry analysis.

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OSCE/ODIHR experts discuss electoral recommendations in Mongolia www.osce.org

A team of election experts from the OSCE Office for Democratic Institutions and Human Rights (ODIHR) presented the final report of the ODIHR limited election observation mission for the two-round presidential election in Mongolia, on 26 June and 7 July 2017, during a visit to Ulaanbaatar on 16 and 17 January 2018.

The report’s findings and recommendations were discussed with representatives of state authorities, including the election administration, the parliamentary working group on the election law and the media regulatory authority, as well as civil society representatives. Discussions focused on specific steps that can be taken to follow up on ODIHR recommendations.

ODIHR experts and the authorities discussed the need for a comprehensive review of the legal framework for elections to address existing gaps and to empower relevant institutions with effective oversight powers and clear jurisdiction on activities throughout the electoral process. Particular emphasis was given to granting the General Election Commission broader authority to issue regulations and provide additional guidance to lower-level commissions.

Other recommendations discussed were to introduce well-defined and transparent criteria for the appointment of lower-level election officials and to broaden reporting requirements for campaign finance.

“The window between elections in Mongolia is open and we encouragingly look to the authorities for initiatives to enhance the conduct of democratic elections,” said Steven Martin, Senior Adviser of the ODIHR Elections Department. “A meaningful and inclusive review of electoral legislation could further strengthen confidence in the institutions responsible for elections and serve as an example of good practice in the OSCE region. ODIHR is ready to support these efforts.”

The expert team also discussed recommendations related to lifting undue restrictions on the right to stand for office, including the prohibition of candidates who are independent or from non-parliamentary parties. They drew attention to the need to enhance the media’s coverage of elections and improve the process for addressing complaints and appeals.

The discussions also covered possible next steps for co-operation between the authorities and ODIHR, including through the provision of expert opinions on future legal amendments and support to Mongolia’s initiative of establishing a regional training centre for election observation.

The follow-up visit followed an official invitation from the Ministry of Foreign Affairs. All OSCE participating States have committed themselves to following up on ODIHR's election assessments and recommendations.

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JICA's new project focuses on greenhouse gas inventory www.montsame.mn

Ulaanbaatar /MONTSAME/ Japan International Cooperation Agency (JICA) has launched a technical assistance Project for Capacity Development to Establish a National Greenhouse Gas (GHG) Inventory Cycle of Continuous Improvement.

On January 16, the first Joint Coordination Committee (JCC) of the Project was held at Blue Sky Hotel, chaired by Ts.Tsengel, State Secretary of the Ministry of Environment and Tourism (MET) and attended by the corresponding officials from the MET, the Environment and Climate Fund (ECF) and JICA. A kickoff workshop followed in the afternoon for the relevant stakeholders, including donors and government organizations.

The first JCC addressed some issues related to GHG, such as United Nations Framework Convention on Climate Change (UNFCCC)’s reporting requirement, domestic context of Mongolia to the GHG inventories and its current challenges. In addition, attendees were informed about an overview to the Project.

In brief, the project will be implemented for 4 years with the aim of achieving overall goal of regularly improvement of GHG inventory with the cooperation of relevant institutions of Mongolia.

The Project outputs focusing on activity data on Energy sector and developing parameters in the Land Use, Land Use and Forestry sector as well as some job training activities collaborated between JICA and ECF experts.
source: JICA

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EU to remove Panama, Korea, UAE, 5 others from tax haven blacklist www.reuters.com

BRUSSELS (Reuters) - European Union officials have proposed removing eight jurisdictions from the blacklist of tax havens the bloc adopted in December, in what critics may see as a blow to its campaign against tax avoidance.

EU states decided last month to draw up the list in a bid to discourage the most aggressive tax dodging practices.

But eight of the 17 jurisdictions currently listed are set to be quickly removed from the list after they offered to change their tax rules, according to EU documents seen by Reuters.

Panama, South Korea, the United Arab Emirates, Barbados, Grenada, Macao, Mongolia and Tunisia are the jurisdictions that EU officials have recommended be delisted.

The removal of Bahrain was also initially considered, but its delisting was eventually not recommended, the documents show.

The proposal will be discussed at a meeting of EU ambassadors on Wednesday and is expected to be adopted by EU finance ministers when they meet next week in Brussels for monthly talks.

Jurisdictions set to remain on the blacklist are American Samoa, Bahrain, Guam, the Marshall Islands, Namibia, Palau, Saint Lucia, Samoa, and Trinidad and Tobago.

The proposal for the delisting was made by the so-called Code of Conduct Group, which gathers tax experts from the 28 EU member states. It monitors countries’ commitments to abide by EU standards on tax matters.

If the recommendation were confirmed by EU ministers, the eight jurisdictions will be moved to a so-called gray list which includes those who have committed to change their rules on tax transparency and cooperation. The gray list currently includes 47 jurisdictions.

The shrinking of the blacklist is likely to be criticized by tax transparency groups. In December some activists denounced the listing process as a whitewash and had called for the inclusion in the blacklist of some EU countries accused of facilitating tax avoidance, like Luxembourg, Malta, Ireland and the Netherlands.

The recommended removal of Panama may cause particular outcry, as it has been at the center of one of the largest disclosures of offshore schemes, the so-called Panama Papers.

EU officials have said the purpose of the blacklist is to convince jurisdictions to become more transparent. Having fewer on the list means more countries have committed to changes, they say.

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Bitcoin loses nearly half its value in crypto-market bloodbath www.rt.com

The cryptocurrency market has extended its losses, as major digital assets are trading 13 to 25 percent below previous day's prices. Digital-currency locomotive bitcoin has now slid below $11,000.
The $11,000 milestone is 45 percent below the $20,000 peak that bitcoin touched just one month ago. Ethereum also plunged below the psychological $1,000 mark, and is on track to lose all its gains in 2018, which reached 100 percent just four days ago.

Ripple was down over 20 percent, trading at $1.15. This is a three-fold collapse from the $3.65 peak it hit on January 4. Bitcoin cash, cardano, litecoin, neo and other top cryptocurrencies have also slipped by up to 25 percent from the previous trading session.

Cryptocurrencies are falling on reports that authorities in China are planning to widen their crackdown on trading in the country. A Chinese state-run newspaper Securities Times reported on Tuesday that Beijing will target over-the-counter trading, offshore sites used for centralized trading, and peer-to-peer trading of large transactions.

Bloomberg also reported that China will bar access to local and offshore platforms that provide centralized trading, and target traders who provide bids and offers for big-scale trading.

Another BRICS country, Brazil, has joined China and India in taking action against cryptocurrencies. The South American country has prohibited local investment funds from buying digital cash.

The world's most popular cryptocurrency bitcoin was trading at $10,756 as of 9:20am GMT on Wednesday.

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Mongolia reduces pension loan interest rate www.news.mn

Starting from yesterday (16 January), pensioners will be able to take out one-year loans at an interest rate of 12 percent. The loan amount will be equal to up to 70 percent of the pension of the borrower.

The Government decided to cut the pension loan interest rate in 2017. Previously Khan Bank and the State Bank had been offering pensioners six-month loans with 15 percent rates.

Out of the 381.8 thousand people that are currently receiving pensions, 230.8 thousand have taken loans worth MNT 680.9 billion at a rate of 18 percent to be paid over 36 months.

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Law on Central Bank amended: Monitoring on banking sector to improve www.gogo.mn

The Parliament held the final discussion of the amendments to the Law on Central Bank /Bank of Mongolia/ and approved with 69.1 percent vote last Friday.

According to the Bank of Mongolia (BoM), the amendments followed the international practice of central banks and created a favorable legal environment the BoM by improving independency and decision making process. The amendments will help implement the monetary policy, regulate the banking sector monitoring, limit budgetary activities of the BoM that are not in line with its objectives and is set to be effective until April 1 2018. The law is expected to contribute to long-term economic growth by creating legal environment for development and implementation of proper monetary policy.

MP Terbishdagva Dendev said, “The central banks of other countries are focusing on price stability, which is significant in the long-term. Unfortunately, the article concerning the price stability has been disapproved by the Parliament.” MP Damba-Ochir Dorjdamba stated, “The amendments to the Laws on Central Bank will ensure financial stability during economic crisis. The BoM’s decision will now require approvals of four councils and one committee, retracting some of the Governor’s authority. Furthermore, the BoM will be able to monitor commercial banks and take timely measures. In addition, the BoM is now prohibited to issue loans for social welfare programs and projects. Only commercial banks will issue loans to the Government if necessary.”

Tugsbilig.B

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