1 VOLKSWAGEN TO SPEND $50 BILLION ON ELECTRIC CAR 'OFFENSIVE' WWW.CNN.COM PUBLISHED:2018/11/19      2 HABITABILITY OF MONGOLIA UNDER THREAT FROM CLIMATE CHANGE WWW.ADELAIDENOW.COM.AU PUBLISHED:2018/11/19      3 THE SURPRISE FUEL FLOWS SPARKED BY A RAGING U.S.-CHINA TRADE WAR WWW.BLOOMBERG.COM PUBLISHED:2018/11/19      4 MONGOLIA’S COAL EXPORTS IN FIRST 10 MONTHS UP 10PC WWW.XINHUANET.COM PUBLISHED:2018/11/19      5 ABOUT 100 THOUSAND PASSENGERS PASSED THROUGH MONGOLIA-XINJIANG BORDER WWW.MONTSAME.MN PUBLISHED:2018/11/19      6 CHINA'S ‘ONE BELT, ONE ROAD’ GLOBAL INVESTMENT PLAN MAPPED OUT WWW.RT.COM PUBLISHED:2018/11/19      7 ASIA SUMMIT ENDS IN HISTORIC FAILURE WWW.CNN.COM PUBLISHED:2018/11/19      8 INAUGURATION OF SHERAB KYETSEL LING INSTITUTE WWW.DALAILAMA.COM PUBLISHED:2018/11/19      9 US-MONGOLIA 'THIRD NEIGHBOR TRADE ACT' ON THE WAY WWW.THEDIPLOMAT.COM PUBLISHED:2018/11/17      10 CHINA'S FIGHT AGAINST SMOG MAKES PALLADIUM 2018'S BEST METAL WWW.MINING.COM PUBLISHED:2018/11/17      БНХАУ-ЫН ОЛОН УЛСЫН ИМПОРТЫН ҮЗЭСГЭЛЭН БНХАУ-ОХУ-ЫН БИЗНЕСИЙН ХАРИЛЦААГ ӨРГӨЖҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/19     АМЧАМ МОНГОЛ 2018 ОНЫ ЖИЛИЙН ТАЙЛАНГИЙН ХУРЛАА АМЖИЛТТАЙ ЗОХИОН БАЙГУУЛЛАА WWW.IKON.MN НИЙТЭЛСЭН:2018/11/19     ЗЭСИЙН ЗАХ ЗЭЭЛД ЦОЙЛУУЛАХ ХАРМАГТАЙ WWW.DNN.MN НИЙТЭЛСЭН:2018/11/19     ГАШУУНСУХАЙТ АВТО ЗАМ ХХК: БЯМБА ГАРАГТ ГАШУУНСУХАЙТ-ГАНЦМОД БООМТООР НҮҮРС ТЭЭВРИЙН 99 АВТОМАШИН НЭВТЭРСЭН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/19     НЭГ АЖИЛТАНД НОГДОХ ДНБ III УЛИРЛЫН БАЙДЛААР 3.7 САЯ ТӨГРӨГ БОЛЖ ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/19     ХЯТАДЫН ХЯЗГААРЛАЛТ $300-450 САЯЫГ ГАЦААНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/19     АЗЕРБАЙЖАН УЛС МАНАЙД ДАРС НИЙЛҮҮЛЭХЭЭР БОЛЛОО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/19     ШУУДАН, ХАРИЛЦАА ХОЛБООНЫ САЛБАРЫН ОРЛОГО ОНЫ ЭХНИЙ 9 САРД 21.4 ХУВИАР ӨСӨВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/19     БНСУ-ЫН АЖ АХУЙН НЭГЖҮҮДИЙН АУТСОРСИНГ ЗАХИАЛГЫГ ГҮЙЦЭТГЭХ ЗАЛУУЧУУДЫГ СОНГОН, ШАЛГАРУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/17     НҮҮРСНИЙ ЭКСПОРТ 10 ХУВИАР ӨСӨЖ, 31.3 САЯ ТОНН БОЛОВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/17    

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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Bitcoin slump sees trades suspended on certain exchanges www.bbc.com

Bitcoin plunged on Friday, extending a fall that saw the crypto-currency lose almost a third of its value from a record of nearly $20,000 (£15,000).

The crypto-currency's price dipped below $11,000 on Friday, according to the Coindesk exchange website, before recovering to above $13,000.

Amid the swings, three Bitcoin-related exchanges suspended certain trades.

Bitcoin has had a blistering trip over the past 12 months. Its price at the start of the year was about $1,000.

It has skyrocketed since - more than doubling in value since November - drawing interest from major firms as well as private investors.

But since Sunday Bitcoin has been on a losing streak, falling back to where it was at the start of December.

Analysts said investors should be prepared for such rapid changes, which have characterised the asset from its start.

"This is exactly how this asset trades and has done since the beginning," said Nick Colas, co-founder of New York-based DataTrek Research. "It has a lot of volatility and it will for the foreseeable future."

What happened on Friday?
This week's plunge led to a flood of trades that swamped one of Bitcoin's major exchanges, Coinbase, on Friday. A technical slowdown prompted the firm to halt buying and selling twice.

'Be ready to lose your money'
The CME and CBOE exchanges in the US also temporarily suspended trading of certain Bitcoin futures contracts, which allow investors to bet on where they expect the price of Bitcoin to be at certain points in the future.

The exchanges have automatic brakes that apply once a commodity or asset has moved by a certain amount - as happened in this case.

What sparked the slump?
The market remains driven by sentiment, according to Charles Hayter, founder and chief executive of industry website Cryptocompare.

"A manic upward swing led by the herd will be followed by a downturn as the emotional sentiment changes," he said.

Some traders would have been cashing in on the spectacular gains made over the year, he added.

Concerns about the infrastructure behind crypto-assets may also be spooking investors, said Nick Colas, himself a Bitcoin trader.

In recent weeks, markets have been rattled by hacks and allegations of insider trading.

He attributes some of this week's slump to the launch of a new crypto-asset that came earlier than planned. The surprise temporary shutdown of Coinbase on Friday was the kind of thing that could erode investor confidence, he argued.

"It is not OK to just take trading offline randomly through the day," he said. "The robustness of that system is just as important to their confidence... as the price of crypto-currencies themselves."

A spokesman for Coinbase said the firm was working around the clock to ensure smooth trading. Friday's suspensions lasted for about two hours in total.

"We're doing everything within our power," the spokesman said.

What exactly is Bitcoin?
A digital asset, Bitcoin is not backed by any governments. It is created through a complex process known as "mining", and then monitored by a network of computers across the world.

There is a steady stream of about 3,600 new Bitcoins a day, with more than 16.5 million now in circulation. Supply is expected to peak at about 21 million.

Every single transaction is recorded in a public list called the blockchain.

This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undoing transactions.

What are authorities saying about Bitcoin?
Regulators around the world have stepped up their warnings about its provenance as an investment.

One of this week's most striking comments came from Denmark's central bank governor, who called it a "deadly" gamble.

Earlier this month, the head of one of the UK's leading financial regulators warned people to be ready to "lose all their money" if they invested in Bitcoin.

Andrew Bailey, head of the Financial Conduct Authority, told the BBC that neither central banks nor the government stood behind the "currency" and therefore it was not a secure investment.

Despite the risk to individuals, US authorities have said they do not think it is a big enough part of financial markets to be a threat to broader economic stability.

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Mongolia central bank cut key interest rate to 11 percent www.xinhuanet.com

ULAN BATOR, Dec. 23 (Xinhua) -- The Monetary Policy Council of the Bank of Mongolia announced on Friday to cut its benchmark interest rate from 12 percent to 11 percent due to positive changes in the Mongolian economy.

Bayardavaa Bayarsaikhan, a director of Monetary Policy Department, said annual inflation in Mongolia for 2018-2020 will be about eight percent. In view of this, Bank of Mongolia is working to ensure that inflation in Mongolia in 2018 does not exceed eight percent.

Meanwhile, experts of the Asian Development Bank (ADB) projected that Mongolia's economy will grow by three percent in 2018. This shows that there are more positive forecasts in the Mongolian economy compared with the April forecast of the World Bank (WB).

The World Bank experts in April concluded that Mongolia's GDP will increase by 2.8 percent in 2017, and by 3.1 percent in 2018.

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TerraCom reaches production levels www.news.com.au

TerraCom's two operating mines in Australia (Blair Athol Thermal Coal Mine) and Mongolia (BNU Coking Coal Mine) are now producing at name plate production levels.

To date short and long term contracts have underpinned the coal produced. The market remains strong in both sectors with coking coal prices and thermal coal prices in respective markets looking to remain strong for 2018.
The first 58 hectares of rehabilitation at Blair Athol Mine has been completed as per forecast.

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Coal loading resumes at Tavan Tolgoi deposit www.montsame.mn

Ulaanbaatar /MONTSAME/ Coal loading has resumed at Tavan Tolgoi deposit, reported corresponding officials on December 21.

The logjam of trucks at the Gashuunsukhait border crossing has been reduced to 17 km from over 100 km after collaborative efforts made by the Ministry of Road and Transport Development, the Ministry of Mining and Heavy Industry and the National Road Transport Center.

The Minister of Mining issued an ordinance to suspend coal loading at Tavan Tolgoi deposit from December 13 to clear the border jam of coal trucks. As such, coal loading has resumed at the Tavan Tolgoi deposit for Tsagaan Khad route.

It was reported that 10.3 million tons of freight passed the Gashuunsukhait border crossing in 2014, 5.6 million in 2015 and 13 million in 2016. By far in 2017, 17 million tons of coal has been exported through the border crossing.

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Fitch gives Rio Tinto a 'Positive' outlook www.mongolia.gogo.mn

Credit agency Fitch Ratings has upgraded Rio Tinto’s outlook to Positive from Stable.

Rio Tinto's long-term issuer default rating has been reaffirmed at A-. Fitch noted that revision was due to the company’s significant absolute debt reduction, which dropped by 7.8 billion USD from the end of 2015 to June 30, 2017.
Fitch predicts that the price of raw materials will be stable, and that free cash flow will be allocated to Rio Tinto's shareholders and that it will increase capital expenditure on high-value projects.
It was noted that Rio Tinto’s financial policy for the next one to three years will play an important role in further revisions. Share prices for Rio Tinto on the Australian Stock Exchange have been increasing by two percent since early December 2017.

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Value of top 50 mining companies surge $140 billion in 2017 www.mining.com

Heading into 2018 the world's 50 largest listed firms are worth a collective $896 billion, adding $141 billion in combined market capitalization year-to-date, with the bulk of those gains recorded since July.

Go back to the start of the mining industry’s upswing around 18 months ago and $227 billion of wealth has been created for shareholders of the MINING.com Top 50.

The top 10 make up more than half the sector's market value and after underperforming the rest of the field during the first half of 2017, the big diversified and base metals companies caught up rapidly.

Of the gains since end-June nearly 65% have accrued to the top 10 largest mining companies. Year-to-date just two companies – Vale and Glencore – constitute 27% of market capitalization growth.

Gold companies have had a tough go of it this year with top producers Newmont Mining and Barrick Gold falling out of the top 10. Newmont overtook Barrick as the world’s most valuable gold miner this year, but was pushed out of the top tier by diversified giant Anglo American which continues to climb the rankings after years in the wilderness.

New entrant to the top 10 is high-flying China Molybdenum, the best performing mining stock in the world this year with a 150% gain in value year-to-date. The company started the year in 31st spot. The Luoyang City-based base metal giant is now worth more than $20 billion (also the bar for admittance to the top ten) as its acquisition spree of recent years begins to pay off in a big way.

Another company making the most of the rally in copper and zinc this year is KAZ Minerals which joins the Top 50 for the first time. The Kazakh company is up 120% in 2017 and worth $4.7 billion. At the beginning of 2017 a market value of less than $4 billion was enough for entry into the MINING.com Top 50.

Only nine out of 50 firms are trading in negative territory for 2017 with Russian operations and potash proving a deadly combination. Russian diamond miner Alrosa has had a dismal year suffering a similar fall as that of Uralkaliy, the worst performing mining stock this year. The potash producer's 24% decline drops the company from position number 30 at the start of the year down to a 44 ranking.

Dropping out of the Top 50 is German-based potash miner K+S after losing over 10% of its value in 2017. Of the four remaining fertilizer miners in the Top 50, Potashcorp of Saskatchewan bucked the weaker trend with an 8.4% gain this year as it looks to close the merger with US-based Agrium to create the world’s largest producer of the crop nutrient.

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Forum ‘Climate Investment Partnership' takes place in Ulaanbaatar www.montsame.mn

Ulaanbaatar/MONTSAME/ A forum titled ‘Climatic investment partnership’ was organized on December 19 in Ulaanbaatar city to hold contacts between investors and businessmen who finance projects and programs to mitigate greenhouse gas (GHG) emissions of Ulaanbaatar city.

During the event, participants from Mongolian and Chinese business sectors discussed opportunities to implement climate green projects jointly in Ulaanbaatar.
In accordance with Paris Agreement, Mongolia is obliged to mitigate GHG emissions by 14 percent by 2030. As Ulaanbaatar is the largest GHG producer of the country, the city needs to have independent policy and plan of actions. Ulaanbaatar city's contribution to mitigate climate changes was defined to be 7 percent or the half of Mongolia’s contribution.

At the forum hosted by the Governor Office of Ulaanbaatar and Environment Department of Ulaanbaatar city and others, Mongolian side made a presentation on projects of Ulaanbaatar city’s contribution to mitigate climate changes, law on energy saving, relevant national program, Ulaanbaatar city’s plan of climate investment, construction of green schools and kindergarten as well as reduction of heat loss of residential apartments. Chinese association of energy service provided a report on energy saving and energy service business development. Business organizations of two countries also held bilateral meetings.

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Visa-free travel to Argentina for Mongolian citizens www.news.mn

Mongolian passport holders have been granted visa-free entry to Argentina for stays of up to 90 days. The Cabinet backed the visa free agreement between Mongolia and Argentina on 20 December. Mongolia established diplomatic relations with Argentina on 7 December 1971.

Mongolian has diplomatic relation with 186 countries. Currently, the country's passport holders can enter nearly 30 countries for 21-90 days without a visa.

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Mongolia, Macao sign agreement on transfer of sentenced persons www.akipress.com

AKIPRESS.COM - Mongolia and the Macao Special Administrative Region (MSAR) of the People Republic of China signed an agreement on the transfer of sentenced persons on December 15.

The deal was signed by S.Erdene, Mongolia’s Consul General to Macao, and Chan Hoi Fan, Secretary for Administration and Justice of the MSAR, Montsame reports Thursday.

The signing ceremony was attended by Ambassador of Mongolia to China D.Gankhuyag, Yuan Hong, Deputy Representative of Ministry of Foreign Affairs of the People's Republic of China in the MSAR and other officials of the two sides.

The agreement allows Mongolian citizen who sentenced in Macao to be transfered and imprisoned at home country. Also it will give stimulus to boost cooperation between the Ministries of Law Affairs of Mongolia and Macao and other fields.

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Mongolia's foreign exchange reserves reach new high in December www.xinhuanet.com

ULAN BATOR, Dec. 21 (Xinhua) -- Mongolia's foreign exchange reserves reached 2.5 billion U.S. dollars in December, a new high since December 2016, the Bank of Mongolia, the country's central bank, said Thursday.

Mongolia's official gold reserves had increased to 18.4 tons, it added.

The growth was attributed to the implementation of the first and second phases of the IMF's Extended Fund Facility program in Mongolia, a significant increase in gold purchases by the Bank of Mongolia, the renewal of a currency swap agreement with China's central bank, it said.

The restoration of investors' confidence in Mongolia and the Mongolian government's policy such as the implementation of the Economic Recovery Program 2016-2020 and the reduction of budget expenditures also led to the increase in foreign exchange and gold reserves, according to the bank.

Experts with the Mongolian central bank predict that by the end of 2019Mongolia's foreign exchange reserves will reach 3.8 billion dollars, and by 2020, 4 billion dollars.

On Dec. 15, the IMF Executive Board completed the first and second reviews of Mongolia's performance under the Extended Fund Facility program and decided to allocate 79.1 million dollars from a 5.5 billion bailout fund to relieve Mongolia's debt burden and stabilize the local currency.

In May, the IMF approved a three-year extended arrangement under Extended Fund Facility for Mongolia in a total amount of about 434.3 million dollars to support the country's economic reform program.

The IMF has raised its 2017 growth projection for Mongolia to 3.3 percent from 2 percent.

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