1 TOP 10 RICHEST PEOPLE IN MONGOLIA 2018 MONGOLIAN BILLIONAIRES WWW.ELITESHARED.COM PUBLISHED:2018/07/22      2 IRKUTSK REGION'S EXPORT OF CHICKEN EGGS TO MONGOLIA ALMOST DOUBLED WWW.RUSEXPORTER.COM PUBLISHED:2018/07/21      3 86 PERCENT OF ACTIVE ENTITIES IN MONGOLIA HAVE UP TO 9 EMPLOYEES WWW.GOGO.MN PUBLISHED:2018/07/20      4 MONGOLIA TAKES STEPS TO BOOST CASHMERE PRODUCTION WWW.NEWS.MN PUBLISHED:2018/07/20      5 HIV INFECTIONS RISES TO 262 IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2018/07/20      6 FRONTCLEAR FACILITATES A LANDMARK TRANSACTION WITH STATE BANK MONGOLIA, EBRD AND ING BANK WWW.KTVN.COM PUBLISHED:2018/07/20      7 MONGOLIA COULD BE RIO'S COPPER GROWTH KEY WWW.MINING-JOURNAL.COM PUBLISHED:2018/07/20      8 FOREIGN OFFICE MINISTER MARK FIELD VISITS MONGOLIA WWW.GOV.UK PUBLISHED:2018/07/20      9 ZOO-BRED PRZEWALSKI’S HORSES ARE FREED INTO THE PLAINS OF MONGOLIA WHERE THEIR ANCESTORS ROAMED FOR CENTURIES HAVING BATTLED BACK FROM JUST ONE SURVIVING WILD ANIMAL WWW.DAILYMAIL.CO.UK PUBLISHED:2018/07/20      10 MONGOLIAN AND CHINESE JOINT VENTURE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2018/07/20      ТАВАНТОЛГОЙ-ЗҮҮНБАЯН ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫГ БАРИХ АЖИЛ ЭХЛЭЭД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/22     ШИНЭ УРГАЦ ГАРЧ ЭХЭЛСЭН Ч НОГООНЫ ҮНЭ ӨНДӨР ХЭВЭЭР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/20     АВТОЗАМД ҮҮССЭН ХОХИРЛЫН ХЭМЖЭЭ 1,3 ТЭРБУМ ТӨГРӨГТ ХҮРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/20     BURBERRY БРЭНД 32.6 САЯ АМ.ДОЛЛАРЫН ҮНЭ БҮХИЙ БАРАА БҮТЭЭГДЭХҮҮНЭЭ ШАТААЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/20     ИРГЭДЭЭС ЦУГЛАСАН ХАНДИВААР ГАЛ УНТРААХ ТОНОГ ТӨХӨӨРӨМЖ АВЧЭЭ WWW.DNN.MN  НИЙТЭЛСЭН:2018/07/20     ГААЛИЙН БАЙГУУЛЛАГЫН ТӨСӨВТ ТӨВЛӨРҮҮЛСЭН ОРЛОГО 1.2 ИХ НАЯД ТӨГРӨГТ ХҮРЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ИХ БРИТАНИЙН АЗИ НОМХОН ДАЛАЙН БҮС НУТГИЙГ ХАРИУЦСАН САЙД МАРК ФИЙЛД МХБ-Д ЗОЧИЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ЭКО АЛТНЫ УРАМШУУЛЛЫГ МОНГОЛБАНК ОЛГОХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/20     ЯМАШИТА МАМОРҮ: МОНГОЛД ДУНДАЖ ЦАЛИНГ ТЭТГЭВРИЙН ХЭМЖЭЭТЭЙ УЯЛДУУЛЖ ТООЦОХ МЭРГЭЖЛИЙН БАГ ХЭРЭГТЭЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/20     ХЯТАД УЛС БИЗНЕСИЙН ОРЧНОО САЙЖРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/19    

Events

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

NEWS

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EMA bans antibiotic APIs produced by drugmaker in Mongolia www.fiercepharma.com

European authorities have decided to block the amoxicillin trihydrate API produced by a company in Mongolia, China, whose manufacturing quality oversight has been found to be weak.

The steps against Inner Mongolia Changsheng Pharmaceutical followed an October inspection of its plant in Tuoketuo, Hohhot, Inner Mongolia in China by Belgium inspectors, according to a post on the European Medicines Agency's (EMA) Eudra site.

Inspectors listed one critical and eight major deficiencies. The critical deficiency was tied to the QA system, which inspectors called “weak” and incapable of establishing acceptable standards across the whole spectrum of processes. They specifically noted oversight of deviations, quality control, validation, complaint management and documentation, among others.

The EMA is suggesting that countries ban the company from shipping products unless producers have no alternative suppliers for the APIs. In that case, any shipped products should at least be retested, the EMA said.

Both U.S. and European authorities have stepped up oversight of Chinese companies as more are found shipping ingredients to the West. Last fall, the FDA banned products and slapped a warning letter on China’s Guangdong Zhanjiang Jimin Pharmaceutical after an inspection found it had shipped multiple lots of an OTC product to the U.S. containing the wrong API because the company messed up a translation.

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ROK to help Mongolia with combating air pollution www.xinhuanet.com

ULAN BATOR, Jan.16 (Xinhua) -- The government of the Republic of Korea (ROK) is willing to support Mongolia on combating air pollution in its capital city, the Mongolian government press office said Tuesday.

The ROK's Prime Minister Lee Nak-yeon expressed the desire during talks with visiting Mongolian counterpart Ukhnaa Hurelsukh.

After the meeting, the two leaders witnessed the signing ceremony of bilateral relations and cooperation documents.

The ROK government will grant a soft loan worth 500 million U.S. dollars within the framework of Extended Fund Facility arrangement with the International Monetary Fund. The loan must be repaid over a 30-year period with a 10-year grace period and an interest rate of 0.2 percent.

According to Hurelsukh, this money would be spent on reducing air pollution in Ulan Bator.

In addition, the two sides also agreed to work together to intensify cooperation in the labor sector in order to prepare skilled labor and job opportunities.

Relations between Mongolia and the ROK have constantly improved since the two countries established diplomatic relations in 1990.

Bilateral trade volume stood at 700 million dollars in 2017, with an increase of 1.4 percent.

Hurelsukh arrived for a three-day official visit to the ROK on Monday at an invitation of his ROK counterpart Lee Nak-yeon. This is Hurelsukh's first overseas trip since he took office in last October.

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Rio’s Oyu Tolgoi mine in Mongolia hit with $155 million tax bill www.mining.com

Shares in Rio Tinto-controlled Turquoise Hill (TSX, NYSE:TRQ) were hit Tuesday after the miner revealed its massive Oyu Tolgoi copper and gold mine in Mongolia has been handed a $155 million tax bill.

The Vancouver-based company said the amount relates to an audit on taxes imposed and paid by the mine operator between 2013 and 2015.

“Turquoise Hill is of the firm view that Oyu Tolgoi LLC has paid all taxes and charges required under the Investment Agreement (and reconfirmed in the Underground Mine Development and Financing Plan) and Mongolian law,” Turquoise said in the statement.

Shares in the miner were almost 5% down on Tuesday in Toronto at 11:03AM, and had lost 2.7% of their value in the New York exchange by 11:20AM.

Situated in the southern Gobi desert of Mongolia, about 550 km south of the capital, Ulaanbaatar and 80 k north of the border with China, Oyu Tolgoi is jointly owned by the government of Mongolia (34%) and Turquoise Hill (66%), of which Rio Tinto owns 51%.

The $6 billion Oyu Tolgoi first-stage open pit mine began producing in 2013, when the project logged a $90 million full-year loss. A planned underground expansion was put on hold shortly after, as the Mongolian government became concerned that cost overruns would cut into profits.

The project was resumed in 2016 and, currently, the mine is expected to be world's third-largest copper operation at peak production in 2025, with output of over 550,000 tonnes per year.

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EBRD boosts small businesses in Mongolia www.ebrd.com

The EBRD is further supporting small and medium-sized enterprises (SMEs) in Mongolia by providing a loan in Mongolian tugrik – equivalent to US$ 3 million – to XacLeasing Mongolia, a leading provider of diversified leasing services in the country.

Leasing is a growing sector in Mongolia, where it represents an important alternative to bank lending for SMEs in need of finance. Although SMEs account for 90 per cent of all registered businesses in Mongolia, they have limited access to long-term financing due to lack of collateral and credit history.

Under the EBRD’s SME Local Currency Programme, the Bank’s funds will be on-lent to SMEs with a particular focus on machinery, commercial vehicles and medical appliances.

The financing will also support the business development plan of XacLeasing in the SME sector and help to diversify its sources of funding, while reducing foreign currency risk.

Noel Edison, Director for Insurance and Financial Services at the EBRD, said: “Partnering with XacLeasing will increase the availability of much-needed long-term funding in local currency for SMEs that are underserved by bank finance. SMEs are the backbone of the economy and they contribute to most employment and economic growth in Mongolia.”

Tsevegjav Gumenjav, CEO of XacLeasing, commented: “The fact that this is the EBRD’s second local currency loan to XacLeasing shows that the leasing sector in Mongolia has performed exceptionally well over the past years, experiencing tremendous growth, and that leasing is a promising alternative solution to financing needs. The EBRD’s financing will not only help us to increase our leasing to SMEs, but will also help our clients avoid foreign exchange risk.”

The EBRD is a leading institutional investor in Mongolia, with over €1.4 billion invested in 93 projects in the country to date. The Bank’s investments aim to make the local economy more competitive, integrated and resilient.

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Oyu Tolgoi receives Tax Act from Mongolian Tax Authority www.montsame.mn

Ulaanbaatar /MONTSAME/ Turquoise Hill Resources announced through a news release issued on January 15 that Oyu Tolgoi LLC has received, and is evaluating, a Tax Act (“tax assessment”) for approximately USD 155 million from the Mongolian Tax Authority relating to an audit on taxes imposed and paid by Oyu Tolgoi LLC between 2013 and 2015.

Turquoise Hill is of the firm view that Oyu Tolgoi LLC has paid all taxes and charges required under the Investment Agreement (and reconfirmed in the Underground Mine Development and Financing Plan) and Mongolian law.

The tax assessment is being evaluated by Oyu Tolgoi LLC and a response will be issued within the timeframe required by Mongolian Law.
source: Turquoise Hill

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South Korea to increase Mongolia's quota of workers www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolia’s Prime Minister U.Khurelsukh attended a breakfast meeting hosted by South Korea’s Minister of Employment and Labor Kim Young-Joo.

Minister Kim Young-Joo mentioned the Ministry’s plan to increase quota of Mongolians working in South Korea due to good results of people who worked in Korea in 2017 and decreasing number of illegal immigrants. Moreover, she has spoken about a possibility for implementing a project to establish a database connecting employers and job seekers in order to increase work opportunities.

The system is being successfully implemented in countries such as Cambodia and Vietnam. The creation of a database will allow a job seeker to get information on job vacancies in South Korea online and directly on their phones without time and distance restrictions, reported the Cabinet’s Press and Public Relations Department.

O.Onon

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Mongolia named as an ethical destination for 2018 www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolia has been named as one of the world’s ten best ethical destinations for the third time this year.

US-based nonprofit organization Ethical Traveler released the list of ten most ethical travel destinations in 2018, which includes Mongolia along with Belize, Benin, Chile, Colombia, Costa Rica, Palau, St. Kitts & Nevis, Uruguay and Vanuatu.

The award ceremony was held on January 13 in California, the US, and Consul General of Mongolia in San Francisco E.Galbadral received the certificate on behalf of Mongolia.

Every summer, the Ethical Traveler conducts a survey in developing nations with focus on three aspects – environmental protection, social welfare and human rights, as a result of which the list is created.

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Zud alert: Heavy snow blankets southern Mongolia www.news.mn

In Uvurkhangai, Mongolia's southernmost province there has been a very heavy snowfall of up to 90 cm. As a result the authorities have declared an emergency 'zud' situation. This province is hugely important for livestock production; as of December, there were 5 million 744 thousand animals in December. However, after last year's unusually dry summer the situation is serious. In 7-8 soums (districts) of Uvurkhangai the situation is already critical as snow covered up to 80-90 cm.

The authorities have established three hay and fodder stockpiles across the province. In anticipation of the worst possible scenario, food, fuel and insulation materials are being distributed among the neediest families.

'Zud' is a Mongolian word used to describe one of several forms of winter calamities, all of which result in the loss of livestock.

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Meat prices rise at Mongolia's markets www.news.mn

According to the National Statistical Office, prices of five different meat products have increased on the previous week. The statistics considered the prices of 37 diversified products at 17 food markets in six districts of the capital Ulaanbaatar.

As for 10 January, 2018, mutton rose by 0.2-0.27 percent or MNT 10-14 per kg, beef by 0.16-0.26 percent or MNT 10-20 kg; horse meat is currently averaging MNT 4900.

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WHO provides equipment to primary medical units www.montsame.mn

Ulaanbaatar /MONTSAME/ On January 15, 97 laboratory centrifuges were handed over to primary medical units within the frame of the ‘Whole Liver Mongolia’ national program.

The equipment worth USD 114 million 382,400 was provided by the World Health Organization, making it possible for the primary medical units to conduct tuberculosis diagnosis and hepatitis C virus tests in their localities.

Based on tuberculosis report from provinces, the equipment will be distributed to primary medical units in Uvs and Sukhbaatar aimags initially.

Within the ‘Whole Liver Mongolia’ program, hepatitis B, C tests are being conducted among the population, financed by the Health Insurance Fund. On the national level, the program has reached 353,445 people, who make up about 47.1 percent of the target group.
Kh.Aminaa

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