1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      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     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     МАНАЙ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛ ДЭЭШИЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/16     “ЭРДЭНЭС-ТАВАНТОЛГОЙ” 40 САЯ ДАХЬ ТОНН НҮҮРСЭЭ ОЛБОРЛОЖЭЭ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/07/16    

Events

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

NEWS

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UB to collaborate with program in innovation www.montsame.mn

Ulaanbaatar /MONTSAME/ Ulaanbaatar city’s Department of Industry and Innovation (UBDII) has established a memorandum of mutual understanding with the Investment Program on development of ger areas in UB.

The document was signed on Friday by B.Bat-Erdene, head of the UBDII; and D.Avirmed, chair of the program. Accordingly, the parties will cooperate in developing industrial and innovation sectors as well as import substitution industrialization.

Reflected in the “Happy City” program within the 2016-2020 Action Program of UB Mayor, the UBDII has objectives to boost innovation and industries in settlement areas, to create centers for promoting goods and services and to introduce know-how, progressive technologies, innovation products and industries and franchising.

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VN, Mongolia promote economic, scientific, technological cooperation www.e.vcci.com.vn

VGP – Minister of Agriculture and Rural Development Nguyen Xuan Cuong has led a Vietnamese delegation to attend the 16thsession of the Viet Nam-Mongolia Inter-Governmental Committee on economy, trade, science and technology in Ulan Bator, Mongolia.

They held talks with the Mongolian delegation, led by Minister of Food, Agriculture and Light Industry Sergelen Purev.

The two sides discussed measures on cooperation between the two nations, including diplomacy, defense and security, economics, trade and investment, agriculture and natural calamity prevention, science and technology, transport, education, culture, sports and tourism, labor, health and other sectors.

They agreed on cooperative orientations and discussed ways to improve the effectiveness of cooperation to meet their Governments’ demand.

In the future, they will promote exports of advantageous items such as agricultural and aquatic products.

The two sides consented to exchange information and create a favorable environment for their businesses to join international and domestic activities and exhibitions and the implementation of the Memorandum of Understanding (MoU) on co-operation in inspections and animal quarantine inked in April 2017.

The same occasion, Minister Nguyen Xuan Cuong met with Mongolian PM Jargaltulga Erdenebat.

The PM hailed the importance of the meeting of the Committee in the context that the two sides are making efforts to consolidate the traditional and friendship relations, which was set up in 1954.

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J.Erdenbat PM meets assistant FM of China www.montsame.mn

Ulaanbaatar /MONTSAME/ J.Erdenebat, the Prime Minister of Mongolia, Thursday received a delegation led by Mr Kong Xuanyou, the Assistant Foreign Minister of China, who participated in the 3rd meeting of the Strategic Talks between their Ministries of Foreign Affairs.

The Premier underlined the above meeting widely discussed the bilateral relations and cooperation, giving an impetus to boosting the comprehensive strategic partnership ties.

“Last May, I visited China and participated in the Belt and Road Summit in Beijing. During this meeting, I shared the bilateral relations and cooperation issues with Xi Jinpin, the PRC President; and Li Keqian, counterpart of China. These meetings contributed to deepening our comprehensive strategic partnership relations in all spheres,” Mr Erdenebat said.

“We aim to realize works agreed during these visits and to provide our people with profits resulted by the high-level visits,” Mr Erdenebat emphasized, and then asked the Assistant FM to support this matter.

Expressed thanks to the Premier for an audience, Mr Kong Xuanyou agreed with an importance of implementing the concurred works, and said he will convey the issue to relevant officials.

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WeChat, Weibo and Baidu under investigation www.bbc.com

China's largest social media platforms - Weibo, WeChat and Baidu Tieba - are under investigation for alleged violations of cyber security laws.
The Office for Cyberspace Administration said the three platforms had failed to police content on their sites.
It said people had been using the platforms to spread terrorism-related material, rumours and obscenities.
The breaches "jeopardised national security," the administration said.
Heavy censorship
The micro-blogging site Weibo, the messaging app WeChat and the internet discussion forum run by Baidu each attract hundreds of millions of users in China.
The authorities there heavily censor the internet, routinely blocking content or search terms and removing posts they consider sensitive.
They also block foreign social media sites and apps, including Facebook, Instagram and Twitter.
Search engines like Google are blocked, and access to many foreign media outlets is restricted too.
The government has further tightened restrictions ahead of the highly sensitive Communist Party Congress.
It is also clamping down on users who try to get around the restrictions, by tightening regulations on Virtual Private Networks.
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Iron ore price makes fresh high above $70 www.mining.com

The Northern China import price of 62% Fe content ore jumped 1.6% on Thursday to exchange hands for $76.10 per dry metric tonne according to data supplied by The Steel Index. It's the highest price since early April and the steelmaking raw material is now trading 43.6% up from its 2017 lows struck in June.

Iron ore's latest rally comes after Shanghai rebar futures – the world's most traded steel contract – jumped to the highest level since March 2013 on Thursday reaching 4,016 yuan ($601) a tonne on Thursday.

Chinese traders are worried about a steel supply crunch as Beijing steps ups efforts to crack down on polluting plants. The country wants to cut output by as much as 50% during winter months.

In Hebei province, China's key producing region, steelmakers have until September 1 to comply with stringent new emissions regulations or would be shut down. Some 120 million tonnes of low-quality steel capacity were shuttered during the first six month of the year.

Beijing's policies to clean up and consolidate the domestic steel industry is playing into the hands of iron ore exporting countries with low grade furnaces – particularly those that use scrap – being forced out of business. Authorities are also clamping down on pollution from sintering plants, a necessary extra step when using low grade ore (domestic Chinese iron content averages only about 20%) to make steel.

A worry for the industry has been high stockpiles in China and inventories at the country's ports remain near all-time highs dipping to 139.2 million tonnes last week compared to the record set June 23 at 141.5 million tonnes according to Steelhome data. However, traders tell Reuters "steel producers are increasingly opting for higher grade iron ore to boost efficiency":

"There isn't a lot of high-grade around and Chinese mills are preferring high-grade because they want to produce more with steel prices rising," said a trader in Jinan in China's eastern Shandong province.

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Mercedes' parent company is making a big investment in a flying taxi startup — here's what we know www.businessinsider.com

German startup Volocopter recently secured €25 million ($30 million) investment in a funding round led by Daimler, the parent company of Mercedes-Benz.

Volocopter has designed an electric, flying taxi that will start shuttling passengers around Dubai as part of a five-year testing period with Dubai's Road and Transport Authority. The tests will begin by the end of the year.

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Profit alert announcement www.mmc.mn

This announcement is made by Mongolian Mining Corporation (the “Company”, together with its subsidiaries, the “Group”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“Listing Rules”) and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors (the “Board”) of the Company wishes to inform the shareholders and potential investors of the Company that after a preliminary review of the Group’s unaudited consolidated management accounts for the six months ended 30 June 2017 and information currently available, the Group is expected to record a consolidated profit attributable to the equity shareholders of the Company of between approximately USD250 million and USD375 million for the six months ended 30 June 2017 as compared to USD61.7 million loss attributable to the equity shareholders of the Company over the same period in 2016.
Such profit is primarily attributable to:
(a) improved coking coal market condition resulting in higher revenue generated by the Group for the six months ended 30 June 2017 as compared to the same period in 2016 by increasing (i) coal product tonnages sold; and (ii) average selling price achieved; and
(b) the successful implementation and completion of the Debt Restructuring by the Company as described in the Company’s announcements (“Relevant Announcements”) dated 5 May 2017, 5 June 2017 and 9 June 2017 (unless otherwise defined herein, capitalised terms in this announcement will have the same meanings as those defined in the Relevant Announcements) which have resulted in an extraordinary gain.
The Company is still in the process of finalising the interim results of the Group for the six months ended 30 June 2017. The information contained in this announcement is based on a preliminary assessment by the Board solely on the basis of the unaudited consolidated management accounts of the Group and the current information available, which have not yet been reviewed nor audited by the independent external auditors of the Company.
Further details of the Group’s performance will be disclosed in the interim results announcement for the six months ended 30 June 2017 to be published by the Company.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

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Bitcoin Exchange Gets $100 Million Investment www.bloomberg.com

Coinbase Inc., the digital currency exchange that in the past two months suffered a trading crash and upset customers over how it handled the bitcoin split, received a $100 million investment from a group led by IVP.

Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates also participated, according to a statement Thursday. Coinbase plans to use the money to expand its engineering and customer support staff, open a New York office for its professional trading platform GDAX and grow Toshi, “a mobile browser for the ethereum network that provides universal access to financial services,” said Megan Hernbroth, a spokeswoman.

Founded in 2012, San Francisco-based Coinbase said it has seen “unprecedented growth” over the last year as it helped customers buy and sell more than $25 billion worth of digital currencies such as bitcoin and ether. Cryptocurrencies have seen enormous price gains -- bitcoin is up 250 percent year to date -- trouncing other asset classes amid an explosion of attention, but there are growing pains.

On June 21, ether crashed to 10 cents from $317.81 on Coinbase’s GDAX exchange. The cause was a single $12.5 million trade -- one of the biggest ever -- that triggered further selling. It all happened in just 45 milliseconds, after which computer algorithms started buying, driving prices back up to $300 within 10 seconds. “We have reimbursed all customers affected,” Hernbroth said. To help prevent a repeat of the ether crash, Coinbase is considering developing circuit breakers that would pause trading to prevent accidents after consulting with industry experts including the New York Stock Exchange, which has an investment in the company.

Earlier this month, the bitcoin community updated the software it runs to increase the amount of transactions the network can process. In so doing, it created a new digital currency known as bitcoin cash. Initially, Coinbase said it wouldn’t support access to bitcoin cash for its customers, which angered many and led to threats of lawsuits, according to Fortune magazine. Coinbase has subsequently said it would allow customers to access their bitcoin cash by Jan. 1.

Hernbroth said they’ll hit the Jan. 1 deadline “assuming no additional risks emerge.”

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China & Malaysia break ground on $13bn railway under Belt and Road Initiative www.rt.com

Construction of a new railway linking Malaysia's east and west has begun as part of China's ambitious New Silk Road project. At an estimated cost of $13 billion, it’s the largest development project in Malaysia.

The planned 688 kilometers East Coast Rail Link will connect the South China Sea at the Thai border in the east with the strategic shipping routes of the Straits of Malacca in the west. China has claimed many parts of the South China Sea.

"The China government has attached great importance to China-Malaysia relations and has always considered Malaysia a dear neighbor and trustworthy partner who is committed to seeking mutually beneficial cooperation and common development in the country," Chinese State Councilor Wang Yong said at the ceremony on Wednesday.

The China Communications Construction Company will build the railway. It will run passenger trains at a maximum speed of 160 kph and goods trains at a maximum speed of 80 kph. The line is due to be completed in 2024.

China is building a new transport corridor to Europe as part of the Belt and Road Initiative (also known as the New Silk Road). The strategy underlines Beijing's push to play a larger role in global economic affairs.

Under the vast project, China wants to lend $8 trillion for infrastructure in 68 countries. These counties make up 65 percent of the global population and a third of global GDP, according to the consultancy McKinsey.

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"Tavantolgoi" JSC release Q2 2017 report www.montsame.mn

Ulaanbaatar /MONTSAME/ “Tavantolgoi” JSC released Q2 2017 report Mongolian Stock Exchange yesterday, on August 9. According to the report, sales revenue of “Tavantolgoi” reached MNT 255 billion in the first half of this year, while net profit was at MNT 57.2 billion at the end of 2nd quarter.

The company had MNT 54 billion net profit in 2016, which is now MNT 57.2 billion in the first-half only. After analyzing the report, economists are forecasting bullish movement in their stock price, recommending the traders to buy their stock. For instance, “Tavantolgoi” stock price jumped 15 percent by 11AM today on August 10. Within a year, the company’s stock price multiplied by 4.7 times.

The increase in profit is directly connected to the coal price surge in the global market since the second half of 2016. The company extracted 4 million tons of coal in 2016 and exported 98 percent of them, earning MNT 54 billion net profit. 

Due to the exchange rates of currency, “Tavantolgoi” JSC faced heavy loss of MNT 6.6 billion in the first half of this year. However, the overall report shows positive performance.

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