1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20    

Events

Name organizer Where
Frontier's "Invest Mongolia Tokyo 2018" Frontier Securities Tokyo Japan
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Ambassador of UK to Mongolia presents Letter of credence www.president.mn

The Ambassador Extraordinary and Plenipotentiary of the United Kingdom to Mongolia, Mr. Philip Malone presented his credentials to the President of Mongolia, Mr. Khaltmaagiin Battulga on April 3rd.

In regard to his accepting of Mr. Malone’s letter of credence, President Battulga received the newly assigned Ambassador for a bilateral meeting.

Beginning the meeting, Mr. Philip Malone expressed his gratitude for the solemn reception and hospitality. Previously, Mr. Malone worked as minister at the UK Embassy in Singapore, charge d’Affaires at the Embassy in Helsinki and the Ambassador Extraordinary and Plenipotentiary to Laos. The Ambassador expressed his belief that, although it is his first visit to Mongolia, his diplomatic experience will contribute to the future cooperation.

President Battulga, beforehand, wished Ambassador Philip Malone success in his career, and said “Having established diplomatic relations in 1963, UK is the first among western countries to have diplomatic ties with Mongolia. I would like to congratulate you on the 55th diplomatic anniversary, being marked this year. I am grateful for the fact that Mongolia and UK have built a concrete fundament on which the friendship and cooperation can prosper and for the flourishment of bilateral cooperation in many areas.”

Mentioning that bilateral trade turnover has reached more than USD 680 million which is “not a sufficient performance”, the President asked Ambassador Malone to attach more importance to intensifying economic interaction. The head of state also suggested the Ambassador to travel through all 21 aimags of Mongolia, and explained that it will help him get more understanding about our nomadic culture and the people, as well as it might assist in making more favorable and effective decisions.

In response, Mr. Philip Malone expressed that he accepts President Battulga’s advice, and discussed the possibilities of cooperation in not only economy but in many areas starting with culture and education.

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US proposes tariffs on 1,300 Chinese goods www.cnn.com

The Trump administration on Tuesday published a list of about 1,300 Chinese exports that could be targeted for tariffs.

The United States plans to apply the tariffs to about $50 billion worth of goods to punish China for its theft of trade secrets, including software, patents and other technology. A 25% tariff would be applied to all the products, according to the US Trade Representative, a wing of the White House.

Many of the tariffs would target the Chinese aerospace, tech and machinery industries. Others would target medical equipment, medicine and educational material, such as bookbinding equipment.

In a statement, the Chinese embassy in the United States said that China "strongly condemns and firmly opposes" the proposed list.

"As the Chinese saying goes, it is only polite to reciprocate," the embassy said, adding that China intends to pursue the matter with the World Trade Organization and enact "corresponding measures of equal scale and strength against U.S. products."

The tariffs won't go into effect immediately. The administration will hold a public hearing for US businesses on May 15. Even after that, it's not clear when the tariffs would be applied.

China tariffs: Artificial teeth, flamethrowers and other things on the list

US business advocates said the administration diagnosed the problem with China correctly, but had the wrong remedy.

"The administration is rightly focused on restoring equity and fairness in our trade relationship with China. However, imposing taxes on products used daily by American consumers and job creators is not the way to achieve those ends," said Myron Brilliant, executive vice president of the US Chamber of Commerce, an advocacy group that has long been opposed to Trump's trade policy.

A lobbying group for US farmers pleaded with the administration not to go forward with the tariffs, fearing retaliation by China, one of the largest buyers of US crops.

"We continue to urge the administration to listen to farmers across rural America who can't afford new taxes on their exports," Max Baucus, a former Democratic senator from Montana and co-chairman of Farmers for Free Trade, said in a statement.

Related: China to US: We'll match your tariffs in 'scale' and 'intensity'

The list came hours after China's Foreign Ministry insisted it would respond with equal measure to any US tariffs. China said it has its own list of American exports that it will target if the United States goes through with its plan.

"We have been saying that China wouldn't start a trade war," a Foreign Ministry spokesperson said in Beijing. "But we are not afraid of it, and we will resolutely fight to the end if someone insists on a war."

Leaders from both countries have been in talks for more than a week to try to make compromises and provide US companies more rights in China.

After a months-long investigation, the USTR concluded that China forces US tech companies that want to operate there to enter joint ventures with Chinese businesses and share their technology. Chinese firms often steal patents and software from the American firms, the investigation found.

Related: How much has the US lost from China's IP theft?

There is little dispute in the United States that China does not play by the rules when it comes to tech trade. The debate in Washington is about the best way to punish China without hurting American consumers.

The United States had promised that the proposed tariffs would hit Chinese tech, aerospace, communications and machinery. But the list released Tuesday includes some unexpected items, such as malaria test kits, hearing aids, defibrillators, flame throwers, syringes, artificial teeth and X-ray machine equipment.

The USTR also proposed tariffs on Chinese-made military rifles, shotguns and grenade launchers. Turbo jet engines and certain helicopters are among those slated in Chinese aerospace to be hit with a duty. Several drilling machines are on the list as well.

The Trump administration has already imposed a 25% tariff on imported steel and a 10% tariff on imported aluminum. Those tariffs apply to most countries, including China, though some have been exempted.

China responded to the metal tariffs with its own tariffs on $3 billion of US exports to China, including fruits, wine, nuts and pork.

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British miner about to start pouring silver in Russia www.mining.com

Silver Bear Resources (TSX:SBR) announced that construction of its Mangazeisky project in Russia is almost done and that plans to go forward with a first silver production early in the second quarter of 2018 are on track.

Mangazeisky is located 400 km north of Yakutsk, in the eastern Republic of Sakha, and covers an area of approximately 570 square kilometres. The property includes the high-grade Vertikalny deposit which, according to Silver Bear, is amongst the highest-grade silver deposits in the world.

In a press release, the company said that in preparation for the commencement of work at the mine, early stage commissioning has produced silver powder product through the processing plant.

"Mining operations continue with approximately 12,000 tonnes of ore having been stockpiled by the end of 2017 ready for production. Approximately 2,000 tonnes were utilized in early commissioning testing in 2018," the statement reads.

The London-based firm said that, for the remaining of the year, it plans to target new areas of significance to grow the project's resources, as well as look for potential M&A with the idea of developing other resources into producing operations.

 
 
 
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Mongolia requests support from World Bank on developing securities market www.gogo.mn

According to the Parliament, Damba-Ochir Dorjdamba, Head of the Parliamentary Standing Committee on Economy requested the World Bank to focus on developing securities market and direct investment by supporting effective projects of the private sector, in response to World Bank's Country Manager for Mongolia James Anderson's enquiry on preferred sector for support, which was requested to formulate World Bank's strategy in the next four years.

In connection to his appointment, Deepak Mishra, Director General of Development Economy and Investment of the World Bank Group, requested the Mongolian Government official to exchange views on Mongolia’s economic and financial situation, which was held yesterday.

During the meeting Mr Damba- Ochir provided details on current situation of Mongolia’s economy, fiscal and monetary policies. For example, he noted that the 2018 budget was approved with 8 percent deficit, 2017 budget revenue has exceeded the target level, growth reappeared in the economy, revision of Laws on Banking and Central Bank were passed, as well as information on laws which will be discussed during the spring session.

In addition, Mr Damba-Ochir briefed on the long-term projects and programs to be implemented with low-interest development loans and financing of large projects that will contribute to the country’s economy and exchanged views.

Mr Deepak Mishra emphasized that the World Bank Group signifies the percentage of government's debt to the GDP in granting loans and funds to countries, as well as expressing his proposal to keep the debt amount at appropriate level in the future.

Oyunbayar.N

 
 
 
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Mongolia mining corruption probe snares former PM www.ft.com

A Mongolian investigation into allegations of corrupt mining payments has ensnared a former prime minister who has been asked to return from the US to answer prosecutors’ questions.

Saikhanbileg Chimed, prime minister for two years until 2016, is the highest-ranking official to have been implicated in the probe, which dates from revelations in the leaked Panama Papers of transfers to a Swiss bank account in the name of Bayartsogt Sangajav, the former Mongolian finance minister. Swiss authorities froze the account in January.

Over the weekend, Mongolian authorities arrested Mr Bayartsogt and two other former officials with ties to Erdenes Mongol, the state-owned holding company set up to contain Mongolia’s shares in mining projects including the Oyu Tolgoi copper mine and the Tavan Tolgoi coking coal deposit. They also requested Mr Saikhanbileg return from the US. Mr Saikhanbileg could not be contacted for comment.

Turquoise Hill, the Canada-listed subsidiary of Rio Tinto which is developing a $5bn underground stage of the Oyu Tolgoi mine, has previously said it received a request for more information by the Mongolian anti-corruption authorities.

The request for information concerned the “possible abuse of power by authorised officials” during the negotiation of the 2009 Oyu Tolgoi investment agreement, shortly after Rio took over negotiation of the Oyu Tolgoi project from Ivanhoe Mines, the original developer.

Mr Saikhanbileg signed the agreement to develop the second, underground phase of the mine, which economists said was necessary for the Mongolian government to meet its budgetary commitments. Negotiations over the first phase of the giant mine were also fraught, with rancour on both sides and repeated changes to Mongolia’s mining investment regime, once the most liberal in the world.

Swiss prosecutors have said the investigation was not directed against Rio or its employees. Rio Tinto declined to comment on Tuesday.

“The Mongolian government and public is slowly beginning to build up capacity to analyse its relationship with Oyu Tolgoi and with Rio Tinto as an investor and to ask questions about that relationship in the process,” said Julian Dierkes, an expert on Mongolian civil society at the University of British Columbia.

Mr Saikhanbileg’s departure from office in 2016 was marred by the contentious $400m purchase of nearly half of the giant Erdenet copper mine in Mongolia’s north from Russian holding company Rostec, which returned the entire mine to Mongolian ownership.

Erdenet long had symbolic value as the Soviet Union’s most important investment in Mongolia but has been plagued by allegations of mismanagement and corruption. The previously unknown private company that bought the stake, Mongolian Copper Corp, is fighting the Mongolian government’s decision in February 2017 to nationalise the stake bought from Rostec.

Bayanjargal Byambasaikhan, former chief executive of Erdenes Mongol, told the Financial Times in 2016 that the holding company would have trouble establishing control over the state’s share in Erdenet due to the complexity of the politics surrounding that mine. Mr Byambasaikhan was one of the people arrested this weekend.

In a statement on Tuesday, the Business Council of Mongolia, an organisation chaired by Mr Byambasaikhan, noted that he had returned to Mongolia from a posting at the Asian Development Bank in 2010, after the 2009 investment accord for the Oyu Tolgoi mine. “The BCM Executive Committee has full confidence in Byambasaikhan’s integrity,” it said.

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Romania expresses willingness to cooperate in energy sector www.news.mn

Ulaanbaatar /MONTSAME/ On April 2, Deputy Minister of Energy T.Gantulga met Non-resident Ambassador of Romania to Mongolia Basil Constantinescu.

Ambassador Basil Constantinescu expressed Romanian willingness to bring bilateral ties at higher level and revive cooperation between nuclear energy agencies of the two countries which ended 10 years ago and to conduct big research works.

Deputy Minister T.Gantulga put cooperation proposals including training young specialists working in energy sector to European countries, conducting survey on power transmission line nationwide, formulating feasibility study or master plan, building a hydro-electric station and introducing up-to-date European technologies.

At the end of the meeting, the parties agreed to bring bilateral friendly ties at higher level and to seek possibilities to collaborate in energy sector.

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Mongolian PM to visit China www.news.mn

U.Khurelsukh, Prime Minister of Mongolia will visit Beijing on 8-12 April at the invitation of Li Keqiang, Premier of the State Council of the People’s Republic of China.

In Beijing, the Prime Minister will hold official talks with Premier Li Keqiang and make a courtesy calls on Xi Jinping, President of China and Li Zhanshu, Chairman of the Standing Committee of the National People’s Congress. Prime Minister U.Khurelsukh will also attend the Boao Forum for Asia which will be held under the title: ‘An Open and Innovative Asia for a World of Greater Prosperity’.

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Former Prime Minister summoned for questioning www.montsame.mn

Ulaanbaatar /MONTSAME/ Former Prime Minister Ch.Saikhanbileg has been summoned for questioning regarding the 2015 Oyu Tolgoi Underground Mine Development and Financing Plan, signed in Dubai, the United Arab Emirates, said the Independent Authority Against Corruption (IAAC) on April 2.

Ch.Saikhanbileg, who is currently abroad, will be interrogated when he returns, said IAAC spokesperson T.Munkhtungalag.

On Monday the IAAC clarified that former Minister of Finance S.Bayartsogt, former Director of the Mongolian Tax Administration B.Ariunsan and former CEO of Erdenes Tavan Tolgoi LLC B.Byambasaikhan had been arrested after being accused of possible abuse of power during the establishment of the 2009 Oyu Tolgoi Investment Agreement.

“The Investigation Division has sent its request to prosecute S.Bayartsogt to the Ulaanbaatar city Prosecutor’s Office. The court decision will resolve if he will be taken into custody,” said the spokesperson.

Moreover, the spokesperson addressed the recent controversy surrounding Erdenet Mining Corporation and a loan obtained by Just Group from Standard Bank of South Africa and confirmed that G.Amarbat, the then Chief of Commerce Department of the Erdenet Mining Corporation, has been arrested.
Kh.Aminaa

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Mongolia wants to reintroduce capital punishment www.akipress.com

AKIPRESS.COM - President of Mongolia Khaltmaa Battulga intends to initiate draft amendments to the Criminal Code of Mongolia reinstating the capital punishment, Montsame state news agency reported.

The President seeks to introduce death sentence for crimes against children and submit the bill to the Parliament during its spring session, which convenes this week.

“298 cases of child sexual abuse were registered last year alone. The victims' age is between 2-7. Appalling child molestation cases have shocked the society, which is now demanding more action from the Government,” G.Uyanga, Civil Society and Human Rights Advisor to the President, said at a press conference.

Last November, President Battulga sent an official letter to the Ministry of Justice and Home Affairs proposing to reinstate capital punishment. According to the Advisor, the Ministry hasn’t formally responded to the letter. “However, it was reported last week that a conclusion had been made by a working group in charge, led by Deputy Minister of Justice and Home Affairs B.Enkhbayar, that it wasn’t possible to restore capital punishment,” she said.

Mongolia put moratorium on capital punishment in 2012. The Parliament of Mongolia adopted a revision to the Criminal Code in 2015, which came to effect on July 1, 2017. Capital punishment was formally removed in the revised Criminal Code.

The Law of Mongolia on Legislation states that the public can add their suggestions to a draft bill for the time period of one month. “The public survey begins today. I am sure many people will take active part in the process,” said G.Uyanga.

R.Bulgamaa, Non-staff Advisor of Legal Policy to the President, emphasized that the President’s proposal doesn’t imply full restoration of capital punishment in Mongolia, and that only child abusers would be subject to death penalty. Before 2010, death penalty was given for six offenses in Mongolia.

Advisor G.Uyanga reminded of a fact that Mongolia abolished death penalty in 1953, but had to restore it after 10 months in response to increased incidence of crimes.

Thousands of Mongolians protested in front of parliament in Ulaanbaatar on Saturday to demand more action to prevent child abuse, after the widely-reported rape of a male infant shocked the country, Reuters reported.

After the reported rape earlier this month in Dornogobi province in Mongolia’s southeast, a group of concerned mothers created a Facebook group announcing the Saturday protest last week, and it quickly reached more than 400,000 members.

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UB night -time electricity discount ends www.news.mn

As a step towards cutting air pollution, which is extremely serious in the capital, Ulaanbaatar, the Mongolian government has approved regulation to cut electricity night tariff for ger district households, where most of the harmful smoke is produced, to zero.

The nightly incentive lasts from 9pm to 6am. The discount came into effect from 1 November and continued until 1 April. During this period, the inhabitants of Ulaanbaatar always face the worst air pollution caused by burning poor quality coal in the stoves of the ger districts, which surround the capital and are home to around half its population.

More than 160 thousand residents living in ger district benefitted from the electricity tariff discount by 50-100 percent. The discount cost MNT 9 billion.

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