1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     ОЛОН УЛСЫН ИННОВАЦИЙН ИНДЕКСЭЭР МОНГОЛ УЛС 53-Т ЖАГСЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/17     ШАДАР САЙД НҮБ-ЫН ӨНДӨР ТҮВШНИЙ УУЛЗАЛТАД ОРОЛЦОЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17    

Events

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

NEWS

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Investors start to trust in DBM www.montsame.mn

Ulaanbaatar /MONTSAME/ The National Statistical Office’s report on the social and economic situation of Mongolia in the first nine months has shown an economic recovery, having higher main economic indicators than the expectation.

Those include the payment balance matched to the indicator of the same period of 2011 or with profit of USD201 million, foreign trade balance grew up by USD 767 million since October 2015, having profit of USD 1.452 million, official reserve of foreign currency (as of the first eight months) raised to USD 1.6 billion--up by 43.2 per cent or USD 482 million since the beginning of the year. Moreover, the budget deficit lowered to MNT 737 billion, declining by 64 per cent compared to the same period of last year, while the USD official exchange rate against Mongolian Tugrik (MNT) weakened by one per cent since the beginning of this year, proving stabilization of Mongolian economy.

In addition, the Development Bank of Mongolia (DBM) independently withdrew a source of USD96.6 million from foreign banks and financial organizations in the third quarter of 2017 within its basic activities. By this action the DBM has augmented foreign currency inflow, providing the currency for domestic need at proper level and has given support to stabilize currency fluctuation as well as it has raised international investors’ trust in Mongolian Government. The DBM also has been working to back stable economic growth with its activities including having made additional source that had not been reflected in the budget in compliance with the Law on Debt Management.

The DBM will strive to support a stable economic growth of the country further through constantly broadening cooperation with international bank and financial organizations.

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Mongolian and EU sign agreement on establishment of delegation www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolia-EU relations enter a new phase with the Framework Agreement on Partnership and Cooperation in force and the opening of EU Delegation in Mongolia.

On November 2, Minister of Foreign Affairs D.Tsogtbaatar and the EU Ambassador to Mongolia Hans Dietmar Schweisgut signed an Agreement on the Establishment and Privileges and Immunities of the Delegation of the European Union to Mongolia between the Government of Mongolia and the EU and the European Atomic Energy Community (EAEC) in the State House.

“The opening of the EU Delegation in Mongolia means that a new structure to ensure full implementation of the Framework Agreement has been created,” remarked Foreign Minister D.Tsogtbaatar, emphasizing the importance of the Delegation in further intensification of bilateral relations. “The opening of the EU Delegation is the outcome of diligent efforts of many diplomats from both sides,” he said.

The Minister of Foreign Affairs also expressed his appreciation towards the role and contribution of the EU and its member states in nurturing and sustaining democracy and human rights values in Mongolia. The Minister informed that he proposed to cooperate with the EU actively in promotion of SMEs during his meeting with the EU Ambassadors prior to the signing ceremony.

“For the EU, Mongolia is a like-minded partner, a country built on strong democratic potentials, sharing our values and protecting human rights,” remarked Ambassador Schweisgut following the ceremony. “Mongolia has also grown into a bright market economy, therefore we want to expand our relationship in all areas,” he added.

Ambassador Schweisgut stated that the EU looks forward, with the Delegation in Mongolia in cooperation with the Embassies of the EU Member States, to develop bilateral relationship further with focus on trade and investment areas. The Delegation will strengthen the EU's relationship with Mongolia, and is a sign of the EU's long-term commitment to the people of the country.

Ambassador Schweisgut is leading a group of more than 20 ambassadors and senior European diplomats from EU Member States to Mongolia on November 1-3 for their annual meeting with the Mongolian leadership as well as civil society representatives. The objective of these meetings is to take stock of relations between the EU and Mongolia, and to discuss how to strengthen, promote and extend the scope of cooperation between the parties.

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Kaspersky Lab detects virus that steals bitcoin & other cryptocurrencies www.rt.com

Russian cybersecurity company Kaspersky Lab said it has detected a new malware able to steal cryptocurrencies from users’ web wallets by replacing their address with that of its creator.
Cybercriminals are targeting digital currencies such as bitcoin, ethereum, zcash, dash, monero and others, according to the company. However, the maximum losses were borne by owners of bitcoin-wallets with nearly 23 bitcoins worth over $160,000 stolen. Sums stolen from other digital wallets are ranging from a few dollars to several thousand.

“Cryptocurrency is not a far-off technology anymore. Lately, we have observed an increase in malware attacks targeting different types of cryptocurrencies and we expect this trend to continue,” Sergey Yunakovsky, a malware analyst at Kaspersky Lab, said in a statement.

The new virus, named CryptoShuffler, activates itself when a targeted user attempts to transfer money from one wallet to another. The procedure requires the recipient’s wallet ID, which commonly consists of a long set of symbols and is impossible to memorize, making a user apply a copy-paste option.

Kaspersky to share threat intelligence with Interpol in ‘fight against cybercrime’ — RT World News
Kaspersky Lab signed a threat intelligence sharing deal with Interpol on Thursday, as the Russian cybersecurity firm continues its fight against US claims of being involved in spying activities.

The process involves copying wallets' numbers and pasting them into the “destination address” line of the software that is used to carry out a transaction. At that stage, CryptoShuffler starts to monitor the device's clipboard, utilized by a victim when making a payment.

The virus replaces the wallet with one owned by the creator, which means that a user pastes the wallet ID, not in the address they originally intended to send money to. As a result, a user transfers his or her money directly to cybercriminals, unless the user spots the sudden replacement.

 
 
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Russia bidding to construct 16 nuclear power plants in Saudi Arabia www.rt.com

Russian state corporation Rosatom is interested in building Saudi Arabia's nuclear infrastructure, according to Russian Energy Minister Aleksandr Novak.

“The nuclear industry is an important part of our cooperation,” said Novak at a meeting of the intergovernmental commission, adding “Rosatom could take part in the creation of a nuclear cluster in Saudi Arabia, including the construction of 16 modern nuclear reactors.”

Moscow and Riyadh have inked an agreement on energy and climate and a memorandum of understanding and cooperation in the energy sector.

The Russian Direct Investment Fund (RDIF) and Saudi Arabia’s Public Investment Fund (PIF) are considering investing in more than 20 projects worth over $10 billion, Novak said. As of now more than $1 billion has been spent on nine joint projects.

Russian Railways is negotiating the construction of two railroads in Saudi Arabia. The company is actively developing cooperation with Middle Eastern countries, having already agreed to electrify Iranian rail track.

The two countries are also discussing supplies of Russia’s Kamaz trucks as Riyadh has expressed an interest. Kamaz is Russia’s largest truck maker and plans to increase exports by almost five percent to 6,500 vehicles. The company ranks 16th among the world's top heavy truck manufacturers.

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Iran suggests Russia help 'isolate the Americans' by ditching dollar www.rt.com

The best way to beat US sanctions against Iran and Russia is joint efforts to dump the American currency in bilateral trade, according to Iranian Supreme Leader Ali Khamenei.

"By ignoring the negative propaganda of the enemies, that seek to weaken relations between countries, we can nullify US sanctions, using methods such as eliminating the dollar and replacing it with national currencies in transactions between two or more parties; thus, isolate the Americans," he said on Wednesday at a meeting with Russian President Vladimir Putin in Tehran.

According to Khamenei, economic relations have vast room for improvement. "In the transportation sector, we can expand cooperation, using the main axis of Chabahar port to the port of Saint Petersburg, as well as in other economic areas,” he said.

During the meeting, which lasted about an hour and a quarter, Putin replied that Russia considers Iran “a strategic partner and a great neighbor, and we will take advantage of every opportunity to expand and consolidate relationships in all dimensions.”

The Russian president said the US wants to interfere in all matters of the world and the region and often ignores interests of its allies to do so.

However, since 2014, despite the sanctions, “we devoted our funds to scientific and technological progress, and we had significant growth in the fields of biotechnology, IT, agriculture and space industries. Now, in spite of the initial concerns, we have realized that we can do whatever we decide to," said Putin.

Putin is visiting the Iranian capital to attend a trilateral summit with the leaders of Iran and Azerbaijan.

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Suzuki considering joining Toyota-led EV alliance www.nhk.or.jp

Suzuki Motor is considering joining an electric vehicle alliance led by other Japanese auto firms in an attempt to respond to increasing global demand for eco-friendly models.

President Toshihiro Suzuki told reporters on Thursday that Japanese auto companies should work as a team to compete against European, US, and Chinese firms.

Toyota Motor, Mazda Motor, and automotive parts manufacturer Denso set up a new company in September to develop electric vehicles.

Suzuki said if a shift to hybrid and electric vehicles takes off in India, his company would quickly lose its strong position in the key overseas market.

He added the company is not going to miss the bus in the global move to go electric.

Suzuki has upgraded its financial projections for the current fiscal year ending in March.

It forecasts sales will come to 31.6 billion dollars and operating profit will reach 2.6 billion dollars. Both figures would be record highs.

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Mongolian Mining Corporation Ord Cayman (OTCMKTS:MOGLQ) Shorted Shares Increased By 7% www.kldaily.com

The stock of MONGOLIAN MINING CORPORATION ORD CAYMAN (OTCMKTS:MOGLQ) registered an increase of 7% in short interest. MOGLQ’s total short interest was 246,000 shares in November as published by FINRA. Its up 7% from 229,900 shares, reported previously. With 1.59M shares average volume, it will take short sellers 0 days to cover their MOGLQ’s short positions.

It closed at $0.03 lastly. It is down 0.00% since November 1, 2016 and is . It has underperformed by 16.70% the S&P500.

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One of the largest animals to fly: Fearsome pterosaur the size of a PLANE that feasted on baby dinosaurs 70 million years ago is discovered in Mongolia www.dailymail.co.uk

The 70-million-year-old remains of an enormous flying predator that feasted on baby dinosaurs have been discovered in Mongolia.

The flesh-eating reptile, which was the size of a small plane with a wingspan stretching 11 metres (36ft), was likely one of the largest animals ever to fly. 
It could have walked on all fours using its wings as front limbs to stalk prey on the ground, researchers said, and would have stood as tall as a giraffe.

Because of its size, the new carnivore is thought to have eaten juvenile or small dinosaurs, which were common during the Late Cretaceous period when the animal lived.
The fossil was found in a region of Mongolia's Gobi desert known as the Nemegt Formation, an area where many dinosaur bones have been found before. 
It is thought the beast was a pterosaur, a group of giant flying reptiles that lived alongside the dinosaurs.
The animals were the first vertebrates known to evolve the power of flight, and are thought to have been the largest flying animals ever seen on Earth.
While the species unearthed in Mongolia has not yet been identified, researchers were struck by the sheer size of the backbone fragments found.
'I immediately recognised that it might be a pterosaur and was astonished at its gigantic size,' palaeontologist Dr Takanobu Tsuihiji from the University of Tokyo told National Geographic.

'Straight away, we went back to the site and discovered the rest of the specimen.'

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Mongolian ministry proposed to delay fuel tax increase www.news.mn

The Ministry of Mining and Heavy Industries of Mongolia has proposed to the Cabinet to delay the increase of fuel import tax. The proposal aims to stabilize fuel supply and retail prices; it also intends to decrease the tax increase agreed by between the Finance Ministry and IMF team.

Under an IMF programme requirement, fuel import tax must be increased. The level of the hike is set out in Government Resolution 109 from 1 October. 

As of 24 October, Mongolia has a nationwide fuel reserve for 42 days.

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EU ambassadors call on president Kh. Battulga www.montsame.mn

Ulaanbaatar /MONTSAME/ President Kh.Battulga Wednesday received EU Ambassadors led by Hans Dietmar Schweisgut, Non-Resident Ambassador of the EU to Mongolia.

The meeting was attended by Ambassadors of EU member states including Belgium, Finland, Austria, Slovakia, Estonia, Greece, Lithuania, Hungary, Germany, France, Sweden, Malta, Latvia, Slovenia, the Czech Republic, Italy, Bulgaria, the United Kingdom, the Netherlands, Luxembourg, Spain and Denmark.

President Kh.Battulga expressed his pleasure at meeting the Ambassadors and the opening of EU Delegation in Mongolia, which has been on agenda for about four years. “We believe that opening of EU Delegation in Mongolia will help intensify bilateral relations including trade ties,” said the President, citing statistical figures in Mongolia-EU trade.

Bilateral trade turnover reached USD 1.2 billion in 2016, with Mongolia’s export amounting to USD 643 million. “If we look at the EU, it is not a big sum,” said the President, explaining that he focuses on economic sector since he is a businessman-turned-politician.

President Kh.Battulga continued to state the fact that Mongolia is situated between two giant nations the world takes interest in, which he sees as “a geographic advantage”.

“Mongolia is rich in above and below-ground resources. Although Mongolia has big potentials in agricultural sector, we are far behind in terms of technology,” the President said. President K.Battulga suggested that European technologies can be introduced in Mongolia to process and export raw materials – the above-ground resources. "Almost all European countries have advanced agricultural sectors,” said the President

The President then answered questions raised by the Ambassadors, who also remarked on the growing political cooperation between Mongolia and the EU and agreed to intensify economic cooperation.

Mongolia-EU Framework Agreement on Comprehensive Partnership and Cooperation entered into force on November 1.

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