1 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      2 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      3 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      4 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      5 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      6 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      7 SOLAR EMPOWERMENT OF NOMADS IN RURAL MONGOLIA WWW.GREENOPTIMISTIC.COM PUBLISHED:2019/02/15      8 MONGOLIA, CUBA TO BOOST BILATERAL RELATIONS WWW.PLENGLISH.COM PUBLISHED:2019/02/15      9 GOOGLE OUTLINES $13BN US INVESTMENT WWW.BBC.COM PUBLISHED:2019/02/14      10 NATIONAL DEVELOPMENT AGENCY TO COOPERATE WITH JAPAN’S MIZUHO BANK WWW.MONTSAME.MN PUBLISHED:2019/02/14      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Mongolia expanding military cooperation with the World www.news.mn

Before last year, the Mongolian Army had partnership agreements with 36 countries including five military-technical partnerships – Russia, China, Ukraine, Belarus and Turkey). In 2018, it expanded its partnership agreements to include Indonesia, the Philippines, Uruguay and Bangladesh.

Multinational courses were held where 470 Mongolian and 350 foreign military personnel participated. The training was conducted jointly with the United States. These were covered by “Training of Civil Military Experience” and “UN Military Observer Courses” in NATO Education and Training.

Last year, the army held its traditional “Khaan Quest” and “Gobi Wolf’ military exercises.

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MIAT’s new 737 MAX to fly between Ulaanbaatar and Moscow www.news.mn

MIAT Mongolian Airlines will operate its new Boeing 737 MAX for its service route between Ulaanbaatar and Moscow Sheremetyevo.

In 2017, the leading national carrier MIAT Mongolian Airlines expanded its fleet by leasing two 737 Max aircraft from the global leasing company Avolon. The first of the planes arrived on January 21st of this year.

Previously, MIAT bought an 767-300 ER aircraft from Boeing with a $20 million loan from the ING Bank of the Netherlands. The Mongolian carrier finished repaying this loan to ING in December 2018.

The 737 MAX offers flexibility, efficiency and lower per-seat cost in the single-aisle market and is the fastest-selling aircraft in Boeing history with more than 3,600 aircraft having been ordered.

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Mongolia’s Nobel Prize candidate selected www.news.mn

Earlier this month, the Norwegian Nobel Committee sent a formal letter to the Mongolian Academy of Sciences to invite Mongolia to submit a qualified nomination for the 2019 Nobel Prize for Literature. According to one source, the academy has again nominated Damdinsurengiin Urainkhai (D.Uriankhai) as the candidate for the prize having been their choice in 2018 also.

In 2017, D.Uriankhai became the 1st winner of the Asian Literature Award, selected by the Asia Culture Centre and the Organising Committee of the Asian Literature Festival. D.Uriankhai was born in 1940 in Bulgan province of Mongolia and became a poet in 1977. He is held in high regard as a poet for enhancing Mongolian literature through his intuitive and discerning style. In 1964, he graduated from the Plekhanov State Agricultural Academy of the Soviet Union (now the Plekhanov Russian University of Economics) and from the Maxim Gorky Literature Institute in 1978.

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Non-mining development may flatten growth in 2020 www.zgm.mn

Bank of Mongolia (BoM) comments that the future of megaprojects that would support primary sectors and the question of increasing foreign direct investment remain unclear. Plus, the bank has estimated the economy to slow down in 2020 due to non-mining industry production. The upside effect includes Erdenes Tavan Tolgoi IPO and oil refinery project.

The current account and investment expenditure are expected to increase this year. According to the BoM, this will stimulate the growth of non-mining sectors and will raise the economy slightly above expectation. These sectors include construction, energy, processing, and retails. Although the economic growth is expected to be stable this year on the back of the progress in non-mining; however, the same growth driver will be the downside limitation for the economy in 2020, noted the BoM. On the other hand, the Government has a more optimistic expectation of 8 percent GDP growth based on four factors, namely the tax reform, budget investment, wage raise, and the construction of the oil refinery. The bill on tax reform has been submitted to the Parliament, but it has been put on hold on the order list.

As for international organizations, the outlook on economic growth is around 6-6.6 percent this year. In specific, the Asian Development Bank forecasts the GDP to rise 6.1 percent, which is 0.3 percentage point lower than the last year’s outlook. The bank previously explained that the investment in mining will continue on further; however, the growth will start to flatten.

International Monetary Fund predicted a 6 percent growth during the sixth review under the extended arrangement. Furthermore, the World Bank Group identified the key challenges to the economy, which includes the settlement of coal transportation issue at the border, growing uncertainty in politics and policy, as well as the adverse impact on the continuation of megaprojects prompted by the 2020 election.

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Wheat incentives to be MNT41000-45500 per ton www.montsame.mn

Ulaanbaatar/MONTSAME/ The Cabinet on January 23 defined incentive amount for wheat supplied to domestic flour factories, Crop Farming Support Fund and government reserve.

Specifically, I-III class wheat will receive incentive of MNT 45.5 thousand per ton and IV class MNT 41 thousand.
Last year, wheat was sown on 343.9 thousand hectares nationwide. As a result, 428.6 thousand tons of crops were harvested, of which 280 thousand tons of good quality wheat were supplied. With this volume of harvest, domestic flour needs can be ensured.

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US to pursue Huawei executive extradiction www.nhk.or.jp

The US Justice Department says it will formally seek the extradition of a Chinese tech giant executive from Canada.

Huawei's Meng Wanzhou was arrested in Vancouver last month at the request of US authorities. It's alleged she was involved in company violations of American sanctions against Iran. Meng is currently out on bail, and Washington reportedly has to issue an extradition request until the end of January.

Chinese Foreign Ministry Spokesperson Hua Chunying says that Beijing urge Washington to retract the arrest warrant and not make a formal extradition request to Ottawa.
She also says the US and Canada have infringed on the safety and rights of a Chinese citizen.

Meng's case has caused friction between Ottawa and Beijing. Two Canadians have been arrested in China on spying allegations since her arrest.
Earlier this week, more than 140 academics and former diplomats released an open letter to the Chinese president calling for their release.

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Burns night to be celebrated for the eighth year in Ulaanbaatar www.montsame.mn

Ulaanbaatar /MONTSAME/ ‘Burns Night’ which is celebrated in commemoration of great Scottish poet Robert Burns is to take place for the eighth year in Ulaanbaatar city. The British Embassy in Mongolia, the Mongolian-British Chamber of Commerce and Honorary Consulate for Mongolia in Scotland will jointly organize the event on January 26.

The event plays an important role to expanding business cooperation between the two countries besides promoting Scottish culture, poetry and cuisine. Member of the UK Parliament John Grogan will take part in this year's event.

About the event, British Ambassador to Mongolia Philip Malone said that this celebration has great significance to the people of Scotland and it is celebrated in many countries. Tradition and culture of Scotland has important role to strengthening relations between Mongolia and the United Kingdom.

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Major stock holder of Golomt Bank detained www.news.mn

On Monday night, Anti-Corruption Agents of the NPK arrested Mr. D. Bayasgalan, who is a major stockholder at the Golomt Bank. While other law enforcement officers searched his home and office, they took him to Detention Centre 461 where he was questioned in connection to the ongoing corruption case against D. Dorligiav.

Former Justice Minister D. Dorligiav has been accused of extorting $4 million from T.Ganbold while he was working as Prosecutor General. Ganbold is a director of Altan Dormod Mongol, which is a mining corporation.

D.Dorligjav has already admitted that the money was transferred through Golomt Bank into his younger brother D.Baatar’s account. They have been both been kept in custody at Detention Centre 461 since since 8 January.

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Govt to reduce debt-to-GDP ratio by 8.1 percent in 2019 www.zgm.mn

Ministry of Finance Khurelbaatar Chimed has announced to cut debt-to-GDP ratio by 8.1 percentage point, to 55.3 percent this year.

As of the third quarter of 2018, the gross debt of the Mongolian Government stood at MNT 21.4 trillion. Last year, the country was spending one-eighth of budget expenditure on debt interests, which is estimated to be around one-thirteenth this year following the expected payment. The 2019 budget allocates MNT 856.6 billion on loan interests. The Government is expected to settle high-amount debts starting from 2021, including USD 500 million of Mazaalai bond in 2021 and USD 1 billion of Chinggis bond in 2022. Minister of Finance also noted that the Government is preventing high-amount debt repayments to coincide in a same year.

“Repaying large amounts of debt in one year depreciates the MNT rate, which is difficult to stregthen later on. Therefore, the ministry is making an effort in equalizing debt repayments for each years,” remarked Mr. Khurelbaatar.

This year, the Government of Mongolia is planning to raise MNT 1.2 trillion investment from foreign loans and aids, of which loans amount to MNT 1.1 trillion. 38 percent of the gross amount will be expended on oil production and improving energy supply, 20 percent on renovation of wastewater treatment plant and reduction of environmental pollution.

On the contrary, the budget was planned a MNT 1.9 trillion in deficit, which is 5.4 percent of GDP.

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Inner Mongolia's trade with BRI participating countries reach 69.93 billion yuan in 2018 www.eng.yidaiyilu.gov.cn

The import and export volume of north China's Inner Mongolia Autonomous Region reached 103.44 billion yuan (about 15.3 billion U.S. dollars) last year, a year-on-year increase of 9.9 percent, local authorities said Friday.

It is the first time the region's foreign trade volume has surpassed 100 billion yuan, according to the customs authorities of Hohhot, the regional capital.

In breakdown, the region's import volume rose 7.5 percent year on year to 65.57 billion yuan, while its export volume reached 37.87 billion yuan, a year-on-year growth of 14.4 percent.

Jiao Zhijun, a regional customs official, said Mongolia, Russia and Australia were the region's major trade partners last year, accounting for 56.2 percent of the region's foreign trade volume.

Jiao added that Inner Mongolia saw its foreign trade with countries participating in the Belt and Road Initiative reach 69.93 billion yuan in 2018, up 14.6 percent year on year.

Steel, organic chemicals, and mechanical and electrical products were among the region's major exports, while its major imports include coal, copper and iron ores.

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