1 VALE EVACUATES 200 PEOPLE FROM TOWN NEAR ITS MAR AZUL MINE WWW.MINING.COM PUBLISHED:2019/02/17      2 TOOTH PLAQUE SHOWS DRINKING MILK GOES BACK 3,000 YEARS IN MONGOLIA WWW.SCIENCENEWS.ORG  PUBLISHED:2019/02/17      3 INCREASING NUMBER OF CHINA-EUROPE FREIGHT TRAINS SUPPORTS MONGOLIA'S ECONOMY: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/17      4 TAX REVENUE INCREASES BY 33.7 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/02/17      5 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      6 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      7 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      8 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      9 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      10 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      “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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Leaders of China, Russia and Mongolia to meet www.news.mn

D.Tsogtbaatar, Minister of Foreign Affairs of Mongolia held a meeting with his Russian counterpart, Sergey Lavrov, in Moscow on 16 May. During the meeting, the two top diplomats discussed activating relationships between Mongolia and Russia more effectively. At the meeting, D.Tsogtbaatar invited Russian business leaders to invest in the Mongolian energy and other sectors; from his side, Foreign Minister Lavrov raised issues regarding deepening relations between Mongolia and the Eurasian Economic Union.

The two foreign ministers went on to fix a date for the planned visit of Mongolian Prime Minister U.Khurelsukh to the Russian Federation. Also, on the agenda was a meeting of leaders of the three neighbouring countries of Mongolia, Russia and China; this is expected to take place during the heads of state meeting at the Shanghai Cooperation Organisation annual summit, scheduled to take place in the coastal city of Qingdao in China's Shandong Province.

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Mongolia plans spending MNT 200 billion fighting air-pollution www.news.mn

The Mongolian Parliament held its first discussion on the 2019 socio-economic development guideline on Thursday (17 May), during which MPs debated the budget for fighting air-pollution.

According to MP B.Enkh-Amgalan, Mongolia ineffectively spent a total of MNT 216 billion for fighting air-pollution in the capital, Ulaanbaatar, which has become one of most polluted cities of the world. Recently, the cabinet backed a decision to ban raw coal consumption in the city. As of next year, the Mongolian Finance Ministry plans to invest MNT 200 billion on projects fighting air-pollution.

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Silicon Valley startup seeking software developer from Mongolia www.ubinfo.mn

Intutech LLC, a tech startup based in Silicon Valley, California, is recruiting a software development contractor from Mongolia. The company has announced to run selection between May and July 2018. The reason behind the specific recruitment is that the founders, who are Mongolians, are willing to create opportunities for Mongolian youth to learn from the practices of Silicon Valley startup company.

Selected contractors will work out of Mongolia. The company will pay for the flight to Silicon Valley (along with reasonable expenses) to meet and train around the company’s environment for a couple of months. The initial contract term is for 6 months with a rate of MNT 4 million per month. Scan the QR code for further details.

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Number of mortgage loaners falls drastically www.ubinfo.mn

Since 2016, number of citizens who received mortgage loan has been decreased drastically. In 2016, over 12 thousand citizens obtained the eight percent mortgage loan. By the end of 2017, the number was decreased three times, to 3.9 thousand.

In addition, the amount of financing was also decreased by 46 percent. In May, the Bank of Mongolia (BoM) transferred MNT 15.7 billion and the Ministry of Finance transferred MNT 29.4 billion to commercial banks to finance the mortgage loan program. This grants an opportunity for 657 citizens to obtain the loan.

“The mortgage loan program financing has been decreased due to the BoM’s inability to finance projects and programs as required by the International Monetary Fund’s EFF program,” an analyst of the Bloomberg TV Mongolia emphasized. It was reported that the BoM will quit the mortgage loan program and transfer it to the Government of Mongolia within 2018. “The fall in mortgage loan financing impacts household savings,” the Bloomberg TV Mongolia noted.

The BoM and the Government of Mongolia are granting mortgage loan financing twice per month starting from this year. As of the first quarter of 2018, a total of MNT 48.1 billion were distributed to commercial banks, granting loans to 706 citizens. As of today, a total 93 thousand citizens obtained the laon and the loan balance reached MNT 4.2 trillion.

Murun.B

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Mongolian tech companies penetrate foreign markets www.ubinfo.mn

Mongolian domestic tech companies has started entering international markets, offering their goods and services. For example, two years ago, Instut LLC, which was founded by Mongolian programmists, introduced their product iRestaurant in Singapore. TungLok Group, Singaporean leading restaurant chain which owns and manages over 35 restaurants in Asia, has started using the iRestaurant in its service. Instut runs its domestic operations through its branch named Kaizen Mongolia. Currently, the company reported that 192 companies use its cashier program.

Furthermore, 90 percent of its sales revenue is accumulated from foreign markets and 10 percent from domestic market. However, 70 percent of its customers are domestic companies and only 30 percent are foreign firms. The company is planning to enter the Malaysian market to increase their sales in 2018 and plans to offer iRestaurant system, its major product, in the US, UK and Australian markets through the Apple’s app store within this year.

Moreover, Ametros Solutions LLC, a Mongolian producer of home automatization system concluded agreements to export its products to Kazakhstan and Myanmar. The first product of the company was a wireless charger. The company now manufactures security hardware.

According to Gartner, Inc., an American research and advisory firm providing information technology-related insight for tech and other business leaders, there is prospect that IT product and service expenses will reach USD 3.7 trillion throughout the country in 2018.

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Cashmere producers highlight export possibilities www.montsame.mn

Ulaanbaatar /MONTSAME/ A launch of National consultation ‘Opportunity to Increase Cashmere Export’ took place today organized by the Ministry of Food, Agriculture and Light Industry, Mongolian Wool and Cashmere Association in cooperation with the World Bank Export Development Project for Mongolia.

Mongolia makes up over 40 percent of cashmere resource at global market and the field is producing goods worth MNT 950 billion and earning MNT 740 billion from export today. As of 2017, Mongolia prepared 9400 tons of wool and cashmere and exported its 80 percent as washed and 10 percent as combed.

As a result of approval of the ‘Cashmere’ program, domestic industries are intending to buy some 40 percent of cashmere starting from this year and to produce final goods. A total of 298 factories are operating and 5200 people are employed in cashmere industry.

“It is crucial that herders learn to sort wool and cashmere. The Ministry is cooperating with the Agricultural Commodity Exchange to bring domestic trade to higher level through connecting factories and herdsmen”, said S.Regzedmaa, Senior Specialist of Policy Implementation Coordination Department of Light Industry of the Ministry.

Mongolia exports most of its cashmere to Great Britain, France, Italy, Japan and Korea and growth of final product's export is 50 percent now.

Attendees of the consultation stressed that circulating asset and credits are pressing issues for cashmere companies.

"Currently, we are studying what kind of insurance service is needed for improving export capacity In 2018, we made market researches on Chinese and Japanese markets. We should attach great attention to processing cashmere," said D.Nyamsuren, an analyst for WB Financial Support Team.

The national consultation will run until May 19.

B.Batchimeg

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Mongolbank purchases 988.8 kg gold in April www.montsame.mn

Ulaanbaatar /MONTSAME/ In connection to the Alt -2 program of the Bank of Mongolia (BoM), the bank’s gold purchase has increased. As of April 31, 2018, the BoM purchased 988.8 kgs of gold, reported on May 16.

The bank has purchased 3.2 tons or 3290.6 kg of gold in the first four months of 2018, which was increased by 257.6 kg compared to the same period of the previous year.

The BoM is purchasing gold at MNT 103,531.75 per gram, the same price as London Metal Exchange. The bank’s average gold purchase rate is MNT 102,000.96 per gramm.
E.Altanzul

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Samurai sword-armed men target police station www.bbc.com

Four men who attacked a police station with samurai swords in Indonesia have been shot dead, authorities say.

The group began the assault by ramming a car into the police headquarters in the town of Pekanbaru in Riau province.

A police officer was killed and one of the assailants arrested. The Islamic State (IS) group has claimed the attack via its news outlet.

It comes after a series of suicide attacks carried out by families that have shocked the country.

Police blame a local IS-inspired group, Jemaah Ansharut Daulah (JAD), for the attacks in the city of Surabaya.

Indonesia is the world's most populous Muslim-majority country.

Following the 2002 Bali bombings, it had been widely praised for its sustained anti-terrorism crackdown.

Parents who bring their children to die
Why is Indonesia a target for IS militants?
It managed a combination of arrests and killings, alongside a de-radicalisation program that focused on changing minds and providing alternative incomes for released terrorists.

But, the country now faces a new threat, in part from from IS fighters who have come home after combat in Syria.

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George Soros comes to the rescue of sinking Tesla www.rt.com

Billionaire investor George Soros has invested in electric car maker Tesla at a time when the company is facing stock sell-off amid severe production and legal problems.

Soros Fund Management invested $35 million in the convertible bonds of Tesla, which are due in March 2019, Reuters reports quoting the US Securities and Exchange Commission. This is not the first collusion between Soros and Tesla CEO Elon Musk. In 2016, Soros helped Musk raise $305 million on SolarCity Corp, a debt-laden solar panel firm backed by Musk and a part of Tesla now.

Tesla has faced many troubles in the last few weeks. Investors are concerned about the company’s ability to produce its cheaper Model 3 sedan. A crash which involved Tesla’s autopilot added concerns about the firm. On Wednesday, Tesla was trading at $283.87 per share, continuing to lose the temporary rebound it saw last week.

Earlier this week, Musk said the firm undergoing a “thorough reorganization.” In the last year alone, Tesla lost over $2 billion. The company was losing $6,500 every minute and needs another $2 billion to get through the current year, according Bloomberg estimates. The problems continued this year after the company lost almost $710 million in the first quarter of 2018.

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Mongolia to hold forum on renewable energy www.xinhuanet.com

ULAN BATOR, May 16 (Xinhua) -- Mongolia will hold the 9th National Renewable Energy Forum here on May 24, organizers said in a statement on Wednesday.

The annual forum is co-organized by Ministry of Energy, the Energy Regulation Commission of Mongolia, the Mongolian Renewable Industries Association and the Mongolian Wind Energy Association.

This year's forum is expected to cover topics such as establishing independent grid in remote area, current renewable energy situation on grid, opportunities of reducing air pollution using renewable energy in urban areas.

Currently, the number of attendees of this year's forum has reached 600.

Mongolia has enormous potential for the development of renewable energy.

The East Asian country with a population of just over three million enjoys more than 250 days of sunshine a year.

The country's renewable capacity nearly doubled last year, reaching 155 MW, according to data from the Ministry of Energy.

The landlocked country installed its first large solar power plant, with a capacity of 10 MW, in Darkhan-Uul province, in the north of the county, in January 2017. Its second wind farm, the 50 MW Tsetsii Wind Farm, also opened in October of that year.

Mongolia seeks to provide sufficient heat and electricity to its population, especially in rural areas, and renewable energy projects are seen as a possible solution.

According to Mongolia's Ministry of Energy, the country has a potential wind capacity of 1,100 GW.

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