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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S.Batbold: Highway to be built within Silk Road project www.montsame.mn

Ulaanbaatar /MONTSAME/ Governor of the Capital City and Mayor of Ulaanbaatar S.Batbold attended ‘Business Breakfast’ meeting today held by the Mongolian National Chamber of Commerce and Industry.

Mayor S.Batbold reported that Governor's Office of Ulaanbaatar city is maintaining policy to create public infrastructure and to expand cooperation with aviation companies. In particular, it agreed to cooperate with Asiana Airlines. Moreover a highway construction work in the frames of ‘Silk Road’ project as well as renovation works of city bridges that put into operation in 1950-1970 will begin soon.

According to the Mayor, the Governor's Office plans to have a biggest international expo hall in the capital city and to give land ownership permission only through land exchanges. Mayor S.Batbold asked private sector to render support on building a new 45 thousand capacity stadium.

More than 60 representatives from the Governor's Administration, heads of agencies and businesses participated in the meeting, exchanging views on the city development and pressing issues.

B.Batchimeg

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Belarus suggests developing dairy cluster in Mongolia www.eng.bela.by

MINSK, 4 June (BelTA) - Belarus can develop a dairy cluster in Mongolia, Belarus Prime Minister Andrei Kobyakov said as he met with Mongolia's Minister of Foreign Affairs Damdin Tsogtbaatar, BelTA has learned. “Given the attention that the governments of our countries attach to agriculture, cooperation in crop production, animal husbandry, and veterinary medicine holds great promise. Currently, we are studying the possibility of implementing a comprehensive project to set up Mongolia's first dairy cluster, Andrei Kobyakov said. The Belarusian side is also ready to share modern storage, processing and agricultural production technologies. Moreover, Belarus would like to increase supplies of farm machines and special-purpose equipment, and also passenger buses, utility vehicles, equipment and technologies to Mongolia. The prime minister suggested industrial cooperation projects. The Belarusian side is ready to set up joint ventures with Mongolian partners to produce machinery engineering goods. There is a mutual interest in cooperation in the prevention of emergency situations, and humanitarian cooperation: science, education, culture and sport. Andrei Kobyakov stressed that Belarus pays special attention to the development of relations with countries in the Asia-Pacific region and considers Mongolia as a promising partner. “In 2017 we marked the 25th anniversary of the establishment of diplomatic relations between our two countries. It is safe to say that for the past quarter of a century we have maintained the ties of friendship, mutual respect and partnership, thus laying a good foundation for comprehensive cooperation in the future,” the Belarusian head of government said. “It is obvious that there are many untapped opportunities for cooperation between the two countries and the goal of the two governments is not to miss them, to create the conditions for turning them into specific mutually beneficial economic projects. We are prepared to discuss any areas of cooperation,” Andrei Kobyakov said. Mongolia's Minister of Foreign Affairs Damdin Tsogtbaatar noted that Mongolia values its long-standing relations with Belarus, and is ready to further develop cooperation.

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Japanese Wallet Firm Buys Mongolian Mine, SBI Exchange Launched? www.cryptonews.com

Two Japanese companies announced its crypto business expansion news. Cryptocurrency wallet provider Ginco will move into the cryptocurrency mining industry, and has established a base in Mongolia. Meanwhile, financial giant SBI Group has finally showed its long-awaited cryptocurrency exchange platform.

Per Nihon Keizai Shimbun, the Tokyo-based Ginco has acquired a Mongolian firm based in the capital Ulaanbaatar, investing capital worth some USD 100,000. The company, which is described as a 100%-owned Ginco subsidiary, will sell dedicated mining hardware to investors, who will then be able to commission mining efforts of their own at the center.

The media outlet notes that Mongolia’s low electricity prices mean that costs are 50% lower at the center than operating mining hardware in Japan.

Earlier this year, Ginco announced it had raised some USD 1.4 million in investment in the form of venture capital – and appears set to re-invest this in its new mining projects.

Meanwhile, Nikkei also reports SBI Group opened its cryptocurrency exchange platform, SBI Virtual Currencies, as of June 4. The exchange’s website shows that the only currency on offer at the moment is Ripple (XRP) – although SBI has previously stated that it will offer trading in other cryptocurrencies such as Bitcoin, Bitcoin Cash and Ethereum. SBI also says that its fees for sales are the lowest in the Japanese market.

At the time of writing, however, the SBI Virtual Currencies website appears not to be operational, and features an official announcement asking would-be customers for their patience as the company “completes preparations.”

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Myanmar reviews $9bn China-backed port project on cost concerns www.asia.nikkei.com

YANGON (Financial Times) -- Myanmar’s government is reviewing a $9bn deepwater port project backed by China over concerns it is too expensive and could ultimately fall under Beijing’s control if Myanmar were to default on its debt.

Two people with direct knowledge of the discussions within Aung San Suu Kyi’s government said that economic officials were looking for ways to negotiate down costs for the planned port at Kyaukpyu in Myanmar’s western Rakhine state.

The port is set to give China’s south-west a direct trading corridor to the Indian Ocean via Myanmar, allowing companies to avoid the Malacca Straits if needed. As such, it is part of Beijing’s $1tn push to shore up transport and energy supply routes across Eurasia under its so-called Belt and Road Initiative. The port at Kyaukpyu will be one of the biggest infrastructure projects in Myanmar’s history.

The project “should be welcomed as a useful addition to the country’s stock of infrastructure,” said Sean Turnell, an Australian academic who advises Myanmar’s government on economic policy, However, he added: “It would seem at first glance also to be a project that comes at excessive financial cost and, with this, poses grave risks for Myanmar it may require the country to take on to participate.”

The current estimated costs of the port, which sits at the terminus of recently built oil and gas pipelines that run to southern China’s Yunnan province, are about $7.5bn, with another $2bn envisaged for an adjoining economic zone.

The project is due to be built by a consortium led by Citic Group, one of China’s largest and most powerful state-backed conglomerates. Citic won a tender in 2015, with the Chinese side taking 70 per cent and Myanmar’s government and local companies taking 30 per cent.

“A port of [that] scale that could be usefully employed by Myanmar, under any plausible scenario, should cost just a fraction of this,” said Mr Turnell, an economics adviser who is on secondment from Australia’s Macquarie University as a close adviser to Myanmar’s government. He noted that his comments were his “personal assessment” but also confirmed that officials were looking at ways to negotiate the project’s cost down.

A second foreign official in Myanmar briefed on the discussions inside the government was blunter, saying the project was giving policymakers “nightmares”, amid fears the port could come under Chinese control if Myanmar failed to service its debt.

“If the project doesn’t do well, there is the risk of defaulting and becoming a Chinese-owned port,” said the official, who asked not to be quoted by name because of the sensitivity of the project.

Similar problems have already arisen elsewhere in Asia. Sri Lanka last year handed control of its port at Hambantota to China on a 99-year lease after failing to pay the project’s debts.

Mr Turnell estimated that the amount of debt Myanmar would need to take on for its share of the project would be about $2bn, or about 3 per cent of GDP, representing what he called “a substantial addition to the country’s debt stock”.

Citic Construction did not respond to an emailed request for comment, and Myanmar’s government did not respond to requests for comment.

Myanmar’s review of the project comes at a delicate time for the country, as it faces condemnation from western countries over its recent military crackdown on Rohingya Muslims, which some analysts believe could push the country into China’s orbit.

The country’s previous government angered China in 2011 by suspending the $1.5bn Myitsone dam project in northern Myanmar, which it shelved because of its environmental and social impact.

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Stock exchange weekly report /May 28- May 31/ www.mse.mn

Ulaanbaatar /MONTSAME/ During the week spanning May 28 to May 31, 2018, MNT8,691,937,112 worth of securities were traded through 4 trading sessions on the MSE. The daily average MNT volume was MNT2.2 billion.
1. STOCK TRADING:
Primary market trading:
16.9 million shares worth MNT6.4 billion of 'Mongol Basalt' JSC were traded.
date Securities Name Symbol Price per share Volume Amount
18.05.28 Mongol Basalt MBW 380.00 16,925,100 6,431,538,000.00
Total 16,925,100 6,431,538,000 A total of 40 companies’ 9,302,662 shares worth MNT2,104,228,160 were traded.
Most actively traded stocks:
№ Symbol Securities Name Volume Amount
1 MBW Mongol Basalt 3,777,486 1,571,389,909
2 LEND LendMN 5,288,936 274,960,296
3 GTL Gutal 3,532 77,703,900
4 SUL Juulchin Duty Free 441 41,670,320
5 APU APU 62,987 39,590,941Most active brokerage firms:
№ Symbol Company Name Volume Amount
1 GAUL Gauli 2,743,374 1,112,212,578
2 BUMB Bumbat-Altai 1,551,619 605,050,386
3 BDSC BDSec 1,090,217 402,606,227
4 BZIN Mirae Asset Securities Mongol 6,625,602 391,705,5872. GOVERNMENT SECURITIES TRADING:
Most active brokerage firms for Government securities secondary market trading:
№ Symbol Company Name Volume Amount
1 BDSC BDSec 2,000 203,600,000.00
3 GAUL Gauli 192 19,200,000.00 
3. CORPORATE BONDS TRADING:
№ Symbol Company Name Volume Amount
As of May 31, 2018, total market capitalization of MSE is MNT2,487,830,865,858 The TOP-20 index increased by 0.44% to stand at 20,024.7 units.

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Over 500 non-banking financial institutions active in Mongolia www.news.mn

As of the first quarter of 2018, over 500 non-banking financial institutions (NBFI) and their 177 branches are reported to be active in Mongolia across the 21 provinces. According to the Mongolian Financial Regulatory Commission, over 2500 people are working in such institutions.

In total, 461 NBFI and 124 branches are located in Ulaanbaatar with 76 institutions and 53 branches in the provinces.

Statistics show that, 49 percent of consumers are women and 50.9 percent are men.

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MBD business delegates are heading to London www.mongolianbusinessdatabase.com

MBD business delegates on mining, education, transportation, foreign trade and tourism are heading to London UK tomorrow for Frontier's "Invest Mongolia London Forum" and "International Festival for Business 2018" in Liverpool.

During the business program, the delegation will have an opportunity to meet and attend Mr.John Grogan MP and Chairman of Mongolian British Chamber of Commerce's reception at the Parliament house , Mr.Julian Knight (MP) The Prime Minister's Trade Envoy to Mongolia and pleased to have a special meeting Mr.Joe Anderson, the Mayor of Liverpool.

As of today, there's 150 participants registered for "Invest Mongolia London Forum" and appx 50.000 attendees usually join the bi-annual "International Festival for Business" forum.

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Mongolia launches hotline for foreign tourists www.xinhuanet.com

ULAN BATOR, June 3 (Xinhua) -- Mongolia launched a hotline service Sunday for foreign visitors to the country that will provide tourist information and help in emergencies.

According to the country's tourism department, the new hotline with the number of (+976) 70108687 will provide information on popular destinations and ongoing events across the country.

Moreover, tourists can call the number to ask for help and instructions when dealing with security issues or to complain about tourism services.

This service is part of efforts to develop Mongolia's tourism in a bid to diversify its mining-dependent economy.

The landlocked East Asian country has declared 2018 as a tourism year.

In the first quarter of 2018, the country saw 705,000 foreign tourists, up 11 percent from the same period last year, according to the National Statistical Office of Mongolia.

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S. Korea, China agree to double-track key Incheon-Mongolia air corridor www.english.yonhapnews.co.kr

SEOUL, June 3 (Yonhap) -- South Korea and China agreed to double-track a key air corridor between Incheon and Mongolia with the aim of greatly reducing flight delays in order to benefit travelers, the government said Sunday.

The Ministry of Land, Infrastructure and Transport said the agreement was reached at a working level meeting in Seoul, with the change to be implemented by the end of the year.

The double-tracking will cover the 1,700 kilometers of the airway that is used by planes flying mostly to Mongolia, the Middle East, Russia and Europe from East Asia.

The ministry said one-way traffic will be observed to improve the flow of planes and flight safety.

In 2016 some 150,000 planes used the route, up from 128,000 in 2014.

Aviation experts said that due to the large number of planes on the route and the need to maintain safe distance between each jet, delays in flights from Incheon International Airport are very common. There were 1,344 flights that were delayed for more than an hour in 2016 due to congestion on the airway.

The ministry said that the decision to double-track the route can help 144,000 flights per year, with some 37 percent of the flights being South Korean flag carriers.

Seoul has been engaged in talks with Beijing on the issues since 2010 with the latest decision coming on the heels of a pact to double-track air routes to Southeast Asia.

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Mongolia listing boosts investors confidence in Erdene Resource www.mining.com

Shares in Canada’s Erdene Resource (TSX:ERD), one of the very few companies that has successfully navigated Mongolia’s ever-changing policies on foreign mining investment, were off to the races on Thursday after the miner announced it had received approval for a secondary listing on the Mongolian Stock Exchange (MSE).

The Halifax, Nova Scotia-based miner also said it had launched an offering of common shares to Mongolian residents, as well as a concurrent non-brokered private placement, which in combination are expected to raise up to $4.4 million.

The Canadian miner has also launched an offering of common shares to Mongolian residents, as well as a concurrent non-brokered private placement, which in combination are expected to raise up to $4.4 million.
The company’s stock was up 4.7% to 34 Canadian cents by 10:25 a.m. ET, , still a long way off from the Cdn$1.35 they closed at in May last year.

“Today’s news is the result of close and productive collaboration with the Mongolian Stock Exchange, the Financial Regulatory Commission of Mongolia, and the Government of Mongolia through active support from the Ministry of Mining and Heavy Industry,” Peter Akerley, President and CEO of Erdene, said in the statement. “Our cross listing on both a foreign exchange and the MSE, the first of its kind in Mongolia, is a demonstration of our commitment to creating lasting benefits in [the country].”

He added the company believed the MSE listing would increase opportunities for Mongolians to benefit from the development of their nation’s mineral endowment.

Erdene plans to sell 4,000,000 common shares at a price of 34 Canadian cents per share for gross proceeds of Cdn$1.36 million.

The underwriters of the offering will receive a cash commission equal to 7% of the gross proceeds raised, Erdene said. In addition, Erdene will sell up to 8,000,000 units at a price of 38 Canadian cents each for gross proceeds of up to $3.04 million.

The transactions are expected to close on or before June 14, 2018, and are subject to certain conditions, including the receipt of all necessary approvals.

Mongolia’s mineral wealth has drawn several firms in the past two decades as it opened up to investment. The country’s main appeal has always been its riches — vast deposits of copper, coal and iron ore— as well as its proximity to China, the world’s biggest buyer of the minerals.

The enthusiasm peaked in 2011, when the land-locked nation’s economy grew 17% — the fastest pace on the planet. It went downhill since, with a slight recovery in the past two years as the country stepped up efforts to attract international investors, who can provide foreign direct investment to help Mongolia to meet the terms of its IMF bailout deal.

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