1 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      2 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      3 RUSSIA AND MONGOLIAN BORDER CROSSING NO. 487 WWW.NEWS.MN PUBLISHED:2018/09/20      4 WORLD ECONOMICS REPORTS THAT MONGOLIA’S EMPLOYMENT RATE HITS A FIVE-YEAR HIGH WWW.GOGO.MN PUBLISHED:2018/09/20      5 USD HITS RECORD HIGH IN MONGOLIA DUE TO HIGHER IMPORTS WWW.CHINA.ORG.CN PUBLISHED:2018/09/20      6 READOUT OF VICE PRESIDENT MIKE PENCE’S MEETING WITH PRIME MINISTER UKHNAA KHURELSUKH OF MONGOLIA WWW.WHITEHOUSE.GOV PUBLISHED:2018/09/20      7 MONGOLIA LAUNCHES EU-FUNDED PROJECTS TO PROMOTE GREEN DEVELOPMENT, ENVIRONMENTAL PROTECTION WWW.XINHUANET.COM PUBLISHED:2018/09/20      8 COAL EXPORTS FROM TOP SHIPPER HOBBLED WITH MINERS FACING CONSTRAINTS WWW.MINING.COM PUBLISHED:2018/09/20      9 FRONTIER'S "INVEST MONGOLIA TOKYO 2018" WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/09/19      10 U.S.-CHINA TRADE TUSSLE IS CREATING WINNERS IN SOUTHEAST ASIA WWW.BLOOMBERG.COM PUBLISHED:2018/09/19      УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20     СЗХ-НД МӨНГӨ УГААХТАЙ ТЭМЦЭХ НЭГЖИЙГ БАЙГУУЛАХААР БОЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/20     БНХАУ: ОЛОН ТАЛТ, ЧӨЛӨӨТ ХУДАЛДААГ ДЭМЖИЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/20     АТҮТ: БҮРТГЭЛТЭЙ АВТОМАШИНЫ 60 ОРЧИМ ХУВЬ НЬ ҮЗЛЭГ ОНОШИЛГООНДОО ХАМРАГДСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/20     ЭДИЙН ЗАСАГ УРТ ХУГАЦААНЫ ТЭНЦВЭРИЙГ ХАНГАХАД ТӨВЛӨРНӨ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20     ЯПОН УЛСТАЙ АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРТ ХАМТАРНА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/20     МОНГОЛ, АМЕРИКИЙН ХАРИЛЦАА ШАТ АХИЖ, ӨРГӨТГӨСӨН ИЖ БҮРЭН ТҮНШЛЭЛИЙН ТҮВШИНД ХҮРСНИЙГ НОТЛОВ WWW.NEWS.MN НИЙТЭЛСЭН:2018/09/20     ШЕНГЕНИЙ БОГИНО ХУГАЦААНЫ ВИЗИЙН МЭДҮҮЛГИЙГ УЛААНБААТАР ХОТОД АВНА WWW.MEDEE.MN НИЙТЭЛСЭН:2018/09/19     2018 ЭХНИЙ 7 САРД МОНГОЛЧУУД ГАДААД РУУ ЭМЧИЛГЭЭНД ЯВАХДАА 19.5 САЯ АМ.ДОЛЛАР ЗАРЦУУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19    

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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Mongolia and China aim to increase trade volume to USD 10 billion www.news.mn

State Councilor of the People's Republic of China and Minister of Foreign Affairs Wang Yi is currently making an official visit to Mongolia. He will stay in Ulaanbaatar on 23-25 August, at the invitation of Mongolian Foreign Minister D.Tsogtbaatar.

Mongolian Foreign Minister D.Tsogtbaatar has held an official meeting with Chinese counterpart Wang Yi. During the meeting, the two sides signed a MoU celebrating the 70th anniversary of the establishment of diplomatic relations between Mongolia and China as well as a cooperation plan between the two ministries for 2019-2020. Wan Yi noted that two sides are aiming to increase trade volume to USD 10 billion by 2020.

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World Bank launches world-first blockchain bond www.reuters.com

SYDNEY (Reuters) - The World Bank has priced the world’s first public bond created and managed using only blockchain in a A$100 million ($73.16 million) deal designed to test how the technology might improve decades-old bond sales practices.

Commonwealth Bank of Australia, the sole manager of the deal, said in a statement that the two-year bonds had priced to yield 2.251 percent and would settle Aug. 28.

The prototype deal, dubbed a “Bondi” bond - standing for Blockchain Operated New Debt Instrument as well as a reference to Australia’s most famous beach - is being viewed as an initial step in moving bond sales away from manual processes towards faster and cheaper automation.

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“You’re collapsing a traditional bond issuance from a manual bookbuild process and allocation process, an extended settlement then a registrar and a custodian, into something that could happen online instantaneously,” James Wall, executive general manager at CBA told Reuters in an interview earlier this month.

The World Bank, whose bonds carry an AAA rating, regularly uses its borrowing power to help develop new bond markets as well as pioneering new means for selling and trading the securities.

It issues between $50 billion and $60 billion a year of bonds to back economic progress in developing countries.

Australia is a popular test site for market developments because of its well-established financial infrastructure and the familiarity of international investors with the Australian dollar, which is one of the most-traded currencies in the world.

Earlier this year Russia’s MTS, a telecoms operator, and Sberbank claimed a world-first blockchain bond.The deal, for 750 million rubles ($11.20 million) of 182-day paper, was however privately placed, rather than offered for wider auction, as is the norm and the case with the World Bank deal.

While there have been other prototypes or parallel simulation blockchain projects in the market before, CBA said the World Bank bond will be the first time that capital is raised from public investors through a legally valid bond issuance that uses blockchain from start to finish.

CBA set the price for the “kangaroo” deal at 23 basis points above benchmark rates. Kangaroo bonds are bonds issued in Australian dollars by foreign institutions.

The bank’s blockchain push comes as the Australian Securities Exchange plans to switch to using distributed ledger (blockchain) technology to clear and settle equities trades from 2020 to help cut costs.

Reporting by Paulina Duran and Alun John; Editing by Jennifer Hughes and Eric Meijer

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Cabinet decides to submit a bill on ratifying agreement www.montsame.mn

Ulaanbaatar /MONTSAME/ At its regular meeting on August 22, the Cabinet made a decision to submit to the Parliament a Bill on ratifying an intergovernmental agreement between Mongolia and Hong Kong, Special Administrative Region of China on mutual legal assistance in criminal matters.

Mongolia and Hong Kong Special Administrative Region of China signed the agreement on transfer of sentenced persons (TSP) in 2016 and the agreement on mutual legal assistance in criminal matters in March, 2018 respectively.

Although the Governments of Mongolia and China already established ‘Intergovernmental Agreement on mutual legal assistance in civil and criminal cases’, ‘Intergovernmental Agreement on transfer of sentenced persons’ and ‘Intergovernmental Agreement on transfer of prisoners’, these agreements are not effective in China’s Special Administrative Regions such as Hong Kong and Macau.

In connection with increasing number of Mongolians traveling to these Special Administrative Regions and Mongolians involved in crimes, it necessitates to establish the agreements between Mongolia and those Special Administrative Regions of China.

The agreement includes 23 articles, which regulate legal assistance, expense, a content of the request, corresponding organizations and grounds of refusal to fulfill a request. Establishment of the agreement will ensure legislative organizations of the two sides to actively cooperate in investigation, judicial proceedings and other prosecutiony.

Moreover, the Cabinet also decided to submit to the Parliament a Bill on ratifying an intergovernmental agreement between Mongolia and Kazakhstan on Transfer of Prisoners.

E.Altanzul

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Huawei: Australia has banned us from selling 5G tech www.chinadaily.com.cn

Chinese tech company Huawei says the Australian government has blocked it from providing 5G technology for the country's wireless networks.
Huawei, one of the world's biggest makers of smartphones and telecommunications equipment, said Thursday that the government had informed it of the decision.

"This is an extremely disappointing result for consumers," the Chinese company said on Twitter. "Huawei is a world leader in 5G."

The announcement follows reports in recent months that Australian national security agencies were concerned about alleged ties between Huawei and the Chinese government.

The Australian government said in a statement Thursday that the involvement of telecom equipment suppliers "who are likely to be subject to extrajudicial directions from a foreign government that conflict with Australian law" could mean the country's wireless carriers are unable "to adequately protect a 5G network from unauthorized access or interference."

The statement didn't mention China or Huawei by name.

Huawei has repeatedly rejected the security concerns, insisting that it is "a private company, owned by our employees with no other shareholders."

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China ditching US coal imports for domestic supply in trade tariff tit-for-tat www.rt.com

Washington trade tariffs against Beijing appear to be backfiring on the US coal industry, as Chinese importers are finding new domestic alternatives to soften the blow.
“We have completely stopped US metallurgical coal (imports), which is popular among steel mills, in late July. There is too much uncertainty in trade,” a senior manager at a major Chinese coal trading house told Reuters on condition of anonymity.

Starting Thursday, the US is enforcing a new round of tariffs on $16 billion of Chinese imports. Beijing is responding with a similar amount, including levies on US metals and coal. Coal is an especially important industry for US President Donald Trump, who wants to revive the industry in the country.

The trading house, Shanghai Runhei, will boost purchase of domestic coal to meet demand from clients, the manager said.

“Traders have anticipated yuan depreciation and shored up imports in advance, including cargoes from the United States,” Wang Fei, coal analyst at Huaan Futures told Reuters.

Imports of US coal are hardly crucial for the Chinese industry, the analyst notes.

“Traders can easily shift their supplies to either domestic coal or Australian and Indonesian coal since US imports only account for a tiny share.”

US coal exports have been booming during Trump’s presidency. The US Energy Information Administration data says exports increased by 61 percent in 2017 as exports to Asia more than doubled. India, the largest importer of steam coal from the US, tripled its imports last year, mainly used for growing electricity capacity in the country.

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Russia in gold buying spree ahead of tougher US sanctions www.rt.com

Russia’s Central Bank has picked up pace when it comes to gold buying, adding 26 tonnes to its reserves in July, more than in any other month this year, ahead of the news sanctions imposed by the US.

According to data from the International Monetary Fund, quoted by Bloomberg, Moscow bought 26.1 tonnes of gold last month, increasing its reserves to 2,170 tonnes. At today’s prices, they are worth roughly $83.6 billion, though a Russian government website pegs the value at about $77 billion.

Earlier this year, Moscow cut its holdings of US bills, notes and bonds by about four-fifths, but bought more gold, leading to speculation that the nation was dumping American assets to shield itself from the looming tougher sanctions.

Russia gold buying spree ahead of tougher US sanctions
The news comes a day after the Trump administration imposed new sanctions against Russia, — this time for helping North Korea evade international sanctions, as Moscow separately was accused of cyberattacks in the United States said to be aimed at undermining the midterm election in November.

The Kremlin continues to deny that it has engaged in any offensive cyber acts at all.

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Ulaanbaatar to increase number of buses www.news.mn

The Ulaanbaatar City Transport Department has decided to increase the number of buses to meet the rise in passenger demand and in anticipation of the beginning of the new academic year.

The number of buses will be increased by 10 percent from 25 August bringing the total to 959 buses and trolleybuses on the city's 88 routes. Currently, ten buses on three routes are operating night shift.

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8 percent pay raise fails to stop teachers' strike www.zgm.mn

Cabinet decided to raise public servants’ salary by 8-30 percent durings its regular session yesterday; however, teachers and health workers remain unsatisfied with the amount and pledge to strike in September. Since last year, teachers and medical workers staged several protest for their pay and received the Government’s pledge for 50 percent raise, warning to go onto the next stage of strike in September if their demand remains unfulfilled until then. Minister of Labour and Social Protection Chinzorig Sodnom told the press, “The decision excludes ballot positions and prosecutors, and will take effect starting from September 1. First of all, salaries of teachers and medical workers, as well as their equivalent positions and those who get paid lower than them, will be increased by eight percent. We have completed a study, in cooperation with the Ministry of Health, Education, Culture, Science and Sports, to improve the pay levels of civil servants. The study shows that elementary school and kindergarten teachers require the most skills and have the highest pressure.

Therefore, we are raising their pay level by one and nurses’ pay level by one to two. In other words, elementary and kindergarten teachers’ wage will increase by 12.3 percent and nurses’ pay will rise 20-30 percent in September.” The Minister also noted that cultural sector workers get paid 12.5 percent lower than public servants; thus, their pay will increase by 14-30 percent. The Cabinet also discussed the Parliament’s 29th resolution, which prevents any pay raise until 2019, and decided to submit a redraft, along with the 2019 budget amendments. Unpleased with the decision, the head of temporary committee for teachers’ salary raise addressed, “We studied the price changes of consumer goods. The eight percent increase is nowhere near enough. We are fighting to increase teachers’ salaries for a whole year. We will not accept the Government’s attempt to brush-off our demand. The authorities said they presented their proposal to the Trade Union of Education. The union informed us that they did not accept the eight percent increase and left the meeting. Our temporary committee will stand firm on our 50 percent pay raise demand. It is safe to presume teachers will intensify their strike.”

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Container ship to break the ice on Russian Arctic route www.bbc.com

A Danish vessel setting sail from Vladivostok this week is set to become the first container ship to tackle the Arctic sea route north of Russia.

The Venta Maersk, owned by Maersk Line, and carrying 3,600 containers, hopes to reach St Petersburg by late September.

That could be up to 14 days faster than the southern route via the Suez Canal.

Maersk will collect data on the Northern Sea Route to see if the melting of Arctic sea ice has made the passage economically viable.

Maersk said: "The trial passage will enable us to explore the operational feasibility of container shipping through the Northern Sea Route and to collect data."

The Venta Maersk, designed as a new "ice-class" container ship, will carry frozen fish and other refrigerated and general cargo.

The route stretches from the Bering Strait in the east between Russia and Alaska to Norway in the west.

However, Maersk added: "Currently, we do not see the Northern Sea Route as a commercial alternative to our existing network, which is defined by our customers' demand, trading patterns and population centres."

Nuclear icebreakers
Until now the the route has required an escort of expensive nuclear icebreakers to accompany any vessel.

But global warming, which has raised temperatures along the route during the summer to over 30C, is changing its viability.

A report from the Copenhagen Business School in 2016 found that shipping through the Northern Sea Route would become economically feasible in about 2040 if the ice cover continued to diminish at its present rate.

It may happen even earlier. The Christophe de Margerie, a 984ft liquefied natural gas tanker built specifically for the journey, became the first ship to sail the route unaided last year, while the Russian gas company Novatek has used the route for specially built tankers this year.

China is also using the Northern Sea Route as part of its One Belt, One Road initiative to build trade routes across Eurasia.

Its state-owned Cosco shipping company sent a multi-purpose cargo ship, the Lian Hua Song, into a Russian port last autumn for the first time via the route, delivering equipment for the construction of a subway and a fertiliser plant.

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Orkhon aimag to export 4000 tons of meat to Russia, China and Iran www.montsame.mn

Orkhon/MONTSAME/ Four companies of Orkhon aimag will export 4000 tons of meat to the Russian Federation, the People’s Republic of China and the Islamic Republic of Iran in 2018-2019.

Therefrom, Erdmiit LLC will export 1000 tons of horse meat to Russia and Erdenet Makh Market LLC will export 500 tons of beef to Iran. Moreover, Mongema LLC will export 1590 tons of horse meat to Russia and Jargalant Makh Impex LLC will export 1000 tons of horse meat to China.

The above mentioned companies will also provide local meat reserve. Thus, Erdmiit LLC and Erdenet Makh Market LLC have established an agreement to supply 500 tons and 10 thousand tons of beef respectively.


M.Anudari

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