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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New oil-backed cryptocurrency aimed at ending market volatility www.rt.com

The first legally compliant digital currency based on a physical asset, OilCoin, was announced last month. Each token will reportedly represent the value of one barrel of oil.

A team of banking and technology managers, and US regulatory commissioners who launched the digital currency claim it would provide users with a safe haven from cryptocurrency volatility.

RT talked to Alexandre Kateb, president of Competence Finance SAS, to understand if the new digital currency could one day become a real safe haven like gold.

“OilCoin will try to replicate the movement of oil prices, very much like a financial instrument called an oil future,” said Kateb, who explained that this contrasted with bitcoin and other cryptocurrencies, the value of which is determined by supply and demand for the tokens in circulation, and the cost of issuing new tokens.

He added that OilCoin would have to be backed by physical oil inventories, unlike oil futures, which have to be rolled over periodically and is purely a financial instrument.

Kateb said that “very much like a traditional currency, it is possible to back a cryptocurrency by a physical asset” but expressed doubts that OilCoin could become a real safe haven.

He believes “commodity-backed currencies are a thing of the past, because in the modern world it is technological innovation that drives the economy, not the supply of physical commodities.”

Talking about the possibility of a new cryptocurrency affecting oil prices, Kateb said gigantic quantities of physical oil and other oil-related assets would have to be bought in order to have any such impact.

“It has been said that oil futures can affect oil prices, but according to the studies conducted by the IMF and other financial watchdogs, financial instruments backed by oil may affect the volatility of oil prices but not their level which is determined by the traditional supply and demand for the physical commodity,” he explained.

The economist said that OilCoin would be as volatile as oil itself, adding that it would also have the same kind of cost as oil, namely the "carry cost" incurred by storing physical oil.

“Therefore, the real value of an OilCoin could be subject to a continuous depreciation as time goes by. This is akin to the so-called "contango" effect, which is normally observed with oil futures,” said Kateb.

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Vietnam jails most senior Communist Party official in decades www.bbc.com

The most senior Communist Party official to go on trial in decades has been sentenced to 13 years in jail in Vietnam.

Former Politburo member Dinh La Thang was found guilty of economic mismanagement over losses in state oil firm PetroVietnam.

The former head of the firm was sentenced to life imprisonment.

The trial is part of a crackdown on corruption that involves high-profile energy and banking executives.

Twenty other people were sentenced on Monday in Hanoi, receiving jail terms ranging from three years suspended to nine years.

The trial is seen as a showcase of the Communist Party's fight against corruption but also an act of internal purging, correspondents say.

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Rio Tinto chief executive Jean-Sebastien Jacques is bridge-building in Mongolia. www.afr.com

Rio Tinto is doubling down in Mongolia, where its operations have been hit with a triple whammy of complications in the past fortnight.

Chief executive Jean-Sebastien Jacques has travelled to the country and out into the Gobi Desert to reaffirm that Rio is there to stay despite the recent unrelated setbacks.

Rio said it was opening a new office in the capital Ulaanbaatar and expanding its Mongolian workforce to about 80 people.

The company said the expansion and Mr Jacques' visit were planned before the Mongolian government handed its giant Oyu Tolgoi copper and gold mine a $US155 million ($195 million) tax bill.

Mr Jacques was at the underground mine, in the Gobi Desert about 550 kilometres south of Ulaanbaatar, on Sunday.

Oyu Tolgoi was prevented from delivering copper to its customers late last week because of a border road block related to tensions between Mongolia and China.

The border, about 80 kilometres from the mine, reopened at the weekend but it is too soon to declare its operation back to normal given the threat of more protest blockades over new tariffs on Mongolian goods entering China.

The third incident involving Oyu Tolgoi involved a raid by Mongolian immigration officers that led to dozens of overseas workers, including Australians, being kicked out of the country over visa issues.

'We are here to stay'
Rio said those caught up in the visa issues were employed by contractors and not members of its staff.

The raid was part of a widespread crackdown on overseas workers in Mongolia targeting a number of businesses.

Rio's Canadian-listed subsidiary, Turquoise Hill Resources, which owns 66 per cent of the project with the remainder in the hands of the Mongolian government, said last week that it had paid all taxes and charges required under the investment agreement and Mongolian law.

"Mongolia is one of Rio Tinto's most strategically important markets and we are here to stay," Mr Jacques said in a statement to coincide with his visit.

"We have invested more than $7 billion in Mongolia since 2010, including salaries, supplier payments, investment in the community, and $1.5 billion in taxes, royalties and other payments to the government of Mongolia.

"Today we are demonstrating the deepening of our commitment to Mongolia through the establishment of a new country office under new Mongolian leadership to support our exploration, global technology services efforts and relationships in country."

The new office will support Rio's exploration program and technology centre. It will also focus on building stronger relationships with partners in Mongolia.

Munkhtushig Dul, a veteran of the public service and former Noble Group executive in Mongolia, will lead the new office and have responsibility for Rio's day-to-day operations in the country.

The new office will operate separately from the Oyu Tolgoi team led by managing director Armando Torres.

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Ulaanbaatar hosts Mongolia-US annual consultations www.montsame.mn

Ulaanbaatar /MONTSAME/ The 12th political consultations between the Ministry of Foreign Affairs and the United States Department of State took place on January 20 in Ulaanbaatar.

Representatives of the Ministry of Environment and Tourism, the Ministry of Finance, the Ministry of Justice and Home Affairs, the Ministry of Defense, the Ministry of Education, Culture, Science and Sport, the Ministry of Food, Agriculture and Light Industry, the Ministry of Labor and Social Protection, the Ministry of Energy, the National Emergency Management Agency and the Institute for Strategic Studies of the National Security Council joined the US representatives from the Department of State, Department of Health and Human Services, Department of Homeland Security, US Agency for International Development, and U.S. Embassy in the Annual Bilateral Consultations .

The meeting was co-chaired by State Secretary of the Ministry of Foreign Affairs Ts.Davaasuren and the US Acting Assistant Secretary of State for East Asian and Pacific Affairs Susan A.Thornton.

During the meeting, Mongolia reported on the activities of the Government, foreign policy priorities, latest developments in political, social and economic spheres, implementation of the International Monetary Fund’s Extended Fund Facility program and measures taken to attract foreign direct investment and restore investors’ trust.

The sides noted how bilateral relations advanced in 2017 in the margins of the 30th anniversary of diplomatic relations. In particular, bilateral relations have seen developments such as the re-selection of Mongolia as eligible country for a Second Compact Agreement of the Millennium Challenge Corporation, launch of USD 10 million project to boost Mongolia’s meat export, the first consultation on energy policy, re-establishment of Mongolia group in the US Congress, addition of Mongolia to the list of countries eligible for the H-2A/B visa program and implementation of LEAD and FLEX programs.

The meeting agenda included bilateral trade and economic cooperation, US investment into Mongolia, broadening of cooperation in defense, peacekeeping, agriculture, energy and security, finalization of the Second Compact Agreement and cooperation within the H-2A/B visa program.

Moreover, the meeting also touched upon on global issues, including security in the Asia Pacific region and the Korean Peninsula, and the US’ policy in the Indo-Pacific region.

The annual consultations have been held since 1998 in Ulaanbaatar and Washington in turn, with an aim to review the bilateral relationship and determine the future directions and priorities in bilateral relations.
Kh.Aminaa

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Rio Tinto sets up new exploration office in Mongolia www.reuters.com

MELBOURNE (Reuters) - Rio Tinto will set up a new office in the Mongolian capital of Ulaanbaatar, separate from its Oyu Tolgoi mine division, to focus on exploration and building local ties.

The new office, which will expand to 80 staff this year, will support the company’s exploration program and local services units, as well as focus on growing relationships, the miner said in a statement on Monday.

“Today we are demonstrating the deepening of our commitment to Mongolia through the establishment of a new country office under new Mongolian leadership,” Rio Tinto chief executive Jean-Sebastien Jacques said.

“Mongolia is one of Rio Tinto’s most strategically important markets and we are here to stay.”

Rio Tinto operates the Oyu Tolgoi copper and gold mine, which is jointly owned by the government of Mongolia, with 34 percent, and Turquoise Hill Resources with 66 percent. Turquoise Hill is in turn 51 percent-owned by Rio Tinto.

The company had invested more than $7 billion in Mongolia since 2010, including salaries, supplier payments, investment in the community, and $1.5 billion in taxes, royalties and other payments to the government, Jacques said.

Earlier this month Oyu Tolgoi said it was evaluating a bill for about $155 million from Mongolia’s tax authority following an audit of payments made between 2013 and 2015.

Munkhtushig Dul has been appointed as Rio Tinto’s country director and will lead the new Rio Tinto office. He will work in coordination with the Oyu Tolgoi LLC team, led by managing director Armando Torres.

Dul has previously worked in senior roles within the Noble Group’s Mongolian operations, as well as the Mongolian Stock Exchange and the Executive Office of the National Security Council.

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Foreign trade turnover reaches USD 10.5 billion www.montsame.mn

Ulaanbaatar /MONTSAME/ In 2017, Mongolia traded with 163 countries and total trade turnover increased by USD 2.3 billion or 27.3 per cent compared to the previous year, reaching USD 10.5 billion, of which export made up USD 6.2 billion and import 4.3 billion.

The export increased by USD 1.3 billion or 26.1 per cent whereas import went up by USD 977.3 million or 29.1% compared to the same period of the previous year.

Foreign trade balance surplus reached USD 1.9 billion, showing an increase of USD 307 million or 19.7 percent against 2016.

USD 1.3 billion increase in export was influenced by mineral products' export which raised by USD 1.4 billion in 2017, of which coal export up by USD 1.3 billion.
E.Altanzul

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MBD (B2B) Business offers # 16 www.mongolianbusinessdatabase.com

www.mongolianbusinessdatabase.com is the number 1 ranking website on Google's "Mongolia business or/and Business Mongolia" search according to the business visitors access from appx 90 countries as of today (Google analytics report).

Please review the following MBD business offers package number 16 and feel free to visit www.mongolianbusinessdatabase.com for more information on each offer and contact us.
MBD Admin: contact@mongolianbusinessdatabase.com 99066062

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Rice (Vietnam)
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Fruits (Uzbek)
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Luxury car (UK)
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Trailer (PR China)
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Ventilated facade (Czech)
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IP Camera and equipment (Czech)
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Car LED (PR China)
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Steel Coil /Sheet (PR China)
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LED display (PR China)
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Coca-Cola pledges to recycle all packaging by 2030 www.bbc.com

Coca-Cola has announced a pledge to recycle a used bottle or can for every one the company sells by 2030.

Calling it a "massive global ambition" the firm admitted its part in littering the environment and a responsibility to tackle the problem.

The company, which markets 500 brands of fizzy drink, juices and water, will also work towards making all of its packaging recyclable worldwide.

Greenpeace said Coca-Cola should focus on reducing, not recycling, waste.

Coca Cola announced its "World Without Waste" campaign by acknowledging that food and drink companies were responsible for much of the rise in litter on streets, beaches and in the oceans worldwide.

"The world has a packaging problem - and, like all companies, we have a responsibility to help solve it," Coca-Cola chief executive James Quincey said in a statement.

Plastic bottles on a beachImage copyrightGETTY IMAGES
The firm also said it subscribed to the idea of a "circular economy" where resources such as aluminium, plastic and glass are re-used rather than disposed of.

As well as the well-known Coke brand, the firm markets dozens of other juices, sodas and teas including Fanta, Schweppes, Smartwater and Appletiser.

"We believe every package - regardless of where it comes from - has value and life beyond its initial use," Mr Quincey said.

"If something can be recycled, it should be recycled. So we want to help people everywhere understand how to do their part."

Plastic: not all bad
The firm said it was working to increase the recycled content in the materials it uses to make its drinks bottles, developing plant-based resins and reducing the plastics used in packaging. It will also invest in educating consumers on best recycling practice in their community, the firm said.

Greenpeace welcomed Coca-Cola's move to increase the amount of recycled content in plastic bottles from "a paltry 7%" to 50% by 2030, the campaign group said it was unambitious compared to a commitment from Coke UK to do that by 2020.

However, in a blog accompanying the announcement, Mr Quincey also defended the use of bottles and packaging more generally.

"It's tempting to romanticise a world without packaging. To assume that if we get rid of plastic bottles and cans that life will be better. For animals, for humans, for our planet," he wrote.

"This mistakenly ignores all the good they can do. Modern food and beverage containers help reduce food spoilage and waste. They limit the spread of disease. They can help save lives," he wrote.

'Fallen flat'
The UK government is considering introducing a deposit scheme for plastic drinks bottles.

Coca-Cola's announcement made no mention of deposit schemes but in the past the UK arm of the company has said it would support the idea as long as the scheme was UK-wide.

Tisha Brown, Oceans Campaigner for Greenpeace UK, said Coca-Cola's plan had "fallen flat" when it came to cutting down on waste plastic.

"A litter free world is possible - but only if big companies like Coke stop producing ever growing quantities of plastic litter. They need to reduce and reuse as well as recycle," said Ms Brown.

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Hofmann Engineering workers caught up in Mongolian visa row at Rio Tinto mine www.thewest.com.au

Workers from Hofmann Engineering in Bassendean are at the centre of a tense stand-off between the Mongolian Government and western contractors working on Rio Tinto’s Oyu Tolgoi mine in the Gobi Desert.

Mongolian immigration officers last week raided the giant copper-gold mine on suspicions workers at the project, which is a joint venture between Rio and the local government, did not have the correct visas.

About 40 workers, including Australians, Americans and Canadians, had their passports confiscated last Friday and were unable to return home on flights scheduled for Monday.

Since then, most of the workers were found to be working illegally and have been told to get out of the country.

The stoush in one of the most inhospitable places on earth was part of a wider crackdown by Mongolia on ex-pats working in the country.

Rio said the affected workers were employed by contractors, not directly by the mining giant.

“We are aware immigration officials in Mongolia have conducted visa checks at a number of businesses,” a company spokesman said.

“The responsibility for ensuring the correct visa has been applied for and issued sits with the contracting company. If found to hold an incorrect visa they may be asked to pay fines and leave the country in a matter of days, consistent with immigration law in many countries, including Australia.

“We are working closely with the contracting companies, the contractors, who remain on site, and the Mongolian immigration department as they work to complete their review. The department has been working through this in a timely manner. We expect it to be resolved quickly.”

Hofmann Engineering managing director Erich Hofmann would not comment on the situation other than to say the company was working to ensure its staff could get home as soon as possible.

A Department of Foreign Affairs and Trade spokesman said Canberra was “aware of the situation and is making inquiries with the relevant Mongolian authorities”.

Oyu Tolgoi is one of the most remote mine sites in the world. The sprawling project is 550km south of Mongolia’s capital, Ulaanbaatar and 80km north of the China border.

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State bank`s 30 directors laid off www.gogo.mn

The Prime Minister U.Khurelsukh had announced about his plan to make specific changes in order to reduce the massive structure of state apparatus and increase the quality and productivity of public servants.

Regarding this decision, State Bank's Board of Directors convened last Friday and decided to cut vacancies of directors by 50 percent.

The State bank had a total of 70 directors. Following the Board decision, the number of directors has been reduced to 40, with a total of 30 directors dismissed.

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