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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China will get 2,000 more McDonald's restaurants in the next few years www.cnn.com

The world's largest fast food chain announced Tuesday that it plans to open 2,000 new restaurants across the world's most populous nation in just over five years, bringing the total to 4,500.
"China will soon become our largest market outside of the United States," said McDonald's CEO Steve Easterbrook.

The company and its new business partners in China -- investment firms Citic and Carlyle Group -- are hoping the new outlets will help drive double-digit sales growth for the business every year for the next five years. They're targeting smaller Chinese cities in particular.

The new plans come after McDonald's sold off most of the China business to Citic and Carlyle, saying they would bring a better understanding of the local market. Under the deal announced earlier this year, McDonald's still holds a 20% stake in the business.
The move was part of Easterbrook's ongoing efforts to overhaul the global burger chain. The company's latest financial results pleased investors, with a rise in U.S. sales providing more evidence that Americans are returning to the golden arches.
McDonald's isn't the only big U.S. company whose brand is moving deeper into China.
Starbucks (SBUX) announced plans last year to open more than one new store a day in China for the next five years. It aims to have 5,000 stores across China by 2021.

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Tesla plans to raise $1.5bn to produce new Model 3 www.bbc.com

US electric car manufacturer Tesla plans to raise $1.5bn (£1.15bn) to fund production of its new Model 3 car.

Tesla will raise the money by selling bonds to professional investors, despite the company having $3bn in cash.
The company says it has 518,000 orders for its new car, whose price starts at $35,000.
Initial production of the Model 3 started in July, with a target of 400,000 to be made next year.
Tesla, which also makes batteries and solar panels, has been burning through its cash at a rapid rate.
The company's founder and boss, Elon Musk, said at the vehicle's formal launch in July that making the Model 3 would lead to "six months of manufacturing hell", as it tries to make 100,000 of the cars this year at its California factory.
Some observers have predicted that the company, which has yet to make a profit, will use up at least $2bn this year, hence the need for more cash.
The Tesla bonds will have to be repaid to investors in eight years but the interest rate on offer to investors has not yet been decided.

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From mining to big data : Inner Mongolia's economic development www.chinadaily.com.cn

This year is the 70th anniversary of China's North Inner Mongolia autonomous region. In this time, the region's economy has expanded from 537 million yuan ($78 million) in 1947 to 1.86 trillion yuan ($270 billion) in 2016, according to cctv.com.

Its economic structure has diversified from a single focus on mineral resource exploitation to embrace new energy, big data and cloud computing, new material, energy saving and environmental protection, high-end equipment manufacturing, traditional Mongolian medicine and biotechnology.

Mining

A rare earth magnet is displayed in the showroom at Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co in Baotou, North China's Inner Mongolia autonomous region. [Photo/Xinhua]

Last year, the region cut 3.3 million tons of coal overcapacity and 2.91 million tons of steel, cctv.com reported. Its coal industrial value-added output accounting for 21.9 percent of its large-scale industrial value-added output in 2016, a 9 percent decrease from six-year ago.

Baotou, a city in the region, has more than 80 percent of China's rare earth reserves. In 2015, rather than selling the rare raw materials at a low price, the city cooperated with the Chinese Academy of Sciences to build a research center to explore rare earth uses in many areas.

Now, the center works with Baotou Iron and Steel Group (Baogang Group) to produce steel with added rare earth element with an annual output value estimated at 10 billion yuan.

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"Mongol Alt" campaign launched www.montsame.mn

Ulaanbaatar /MONTSAME/ With an aim to increase gold purchases, “Mongol Alt” /Mongolian Gold/ campaign will be initiated next month. Accordingly, the opening ceremony of the campaign took place on August 07.

On this day, the Bank of Mongolia granted “Certificate of Authenticity” to individuals and entities, who are contributing to increase “State Fund for Treasures” and foreign-exchange reserves of Mongolia by selling gold to BoM.

Within the frames of three-month campaign, training on selling gold to the Central Bank, in accordance with the law, will be held among the public by cooperating with government and non-government organizations, as well as activating advertisement and introducing related laws and regulations.

Furthermore, the Bank of Mongolia is aiming to promote actions on increasing foreign-exchange reserves, provide related information and gold price to public and private entities to prevent gold smuggling.

“Mongol Gold” campaign will be implemented in cooperation with central and regional branches of BoM, commercial banks and other entities.

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Prime Minister J.Erdenebat meets Korean delegates www.montsame.mn

Ulaanbaatar /MONTSAME/ On August 5, Prime Minister J.Erdenebat received representatives of the Mongolia-Korea Economic Forum and Korea-Mongolia Cooperation Forum.

The meeting was attended by Member of Parliament, Member of the Board of the Mongolia-Korea Economic Forum N.Enkhbold, Deputy Chairman of the Board G.Batkhuu, Head of Korea-Mongolia Cooperation Forum, Member of the National Assembly of the Republic of Korea Kim Tae Nyong, Mongolian Ambassador to the Republic of Korea B.Ganbold and Korean Ambassador to Mongolia U Sung.

Sides discussed bilateral economic cooperation, protection of the rights of Mongolians living in the Republic of Korea and the forum’s assistance to projects implemented in Mongolia by the Republic of Korea.

Prime Minister J.Erdenebat appreciated the forum’s bridging role in advancing bilateral relationship in all sectors, and wished success to the forum’s joint meeting which opened in Ulaanbaatar on August 5.

Kh.Aminaa

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From Magnolia to Mongolia: Goodwood rider Salmon set for Mongol Derby www.racingpost.com

The Mongol Derby, the world's longest horserace, attracts a disparate bunch of adventurers every year, and this time Clare Salmon, the former chief executive of the British Equestrian Federation, has thrown her hat into the ring for the gruelling 1,000km challenge.

Last week Salmon was in action at Goodwood in the 5½f Magnolia Cup, but the 53-year-old will be facing a completely different set of circumstances in a race expected to take around ten days for the final finishers to complete.

Sheikh Fahad Al Thani, David Redvers and Kevin Darley were part of a four-strong Qatar Racing team which tackled the race last year but, highlighting its attritional nature, only Redvers and Peter Molony managed to finish.

Speaking from the Mongolian Steppe on Monday, Salmon, who has been involved in racing as an owner with Gary Moore, said: "We had our first rehearsal and met some very small and enthusiastic Mongolian horses. Mine had two speeds: stopped and tied up, or galloping – so we did galloping!
"There's a bit of a contrast from a 17-hand horse to a 12½-hand Mongolian pony. There's a wide range of abilities and it's all rather marvellous."

Salmon is hoping not to finish last, and added: "There's a huge amount of luck involved as you don't know the horses and they don't know you. You also have to navigate and there aren't many landmarks, just a lot of grass."

Food poisoning is another potential hazard, and Salmon, a vegetarian, said: "One of the challenges for me is going to be keeping nourished. There's an animal called the marmot out here which the Mongolians like to eat, but some of them have the plague. So far I've eaten a lot of chocolate, and that's how I intend to continue."

She concluded: "I'll go as fast as I can for as long as I can stay upright."

The race begins on Wednesday and the course is modelled on the postal route and system developed by Genghis Khan in the 13th century. Riders change horses every 40km and stay with the local herders or camp under the stars.

Salmon is one of 38 competitors, ten of whom are from Britain, including Salmon's husband Neil. The field also includes a South African seed potato farmer and a Swedish private investigator. At least conversations round the campfire should be interesting!

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Bitcoin hits new high ignoring recent cryptocurrency split www.rt.com

The world’s most popular cryptocurrency bitcoin has surged to record high despite initial investor concerns over its recent split, which led to the creation of a new virtual currency called Bitcoin Cash.

The price of bitcoin jumped over 15 percent since Friday and is currently hovering around $3,230 per token, according to Coin Market Cap, a cryptocurrency market cap and price checker with portfolio tracker.

The price surge has also boosted bitcoin’s collective market capitalization to over $53 billion.

Last week, bitcoin divided into two currencies. The solution dubbed SegWit2x has been debated for a long while in the bitcoin community, as developers wanted to retain the original blockchain that protects the cryptocurrency from hackers, while miners preferred to double the size of data blocks to make the network faster.

“The miner-orchestrated hard fork has had limited traction and will not impact the price or future development of bitcoin. The activation of SegWit is a significant milestone in bitcoin’s technological evolution,” said Aurelien Menant, chief executive officer of Gatecoin a cryptocurrency exchange in Hong Kong, as quoted by Bloomberg.

Meanwhile, the price of bitcoin has continued to grow, while Bitcoin Cash has plunged 67 percent from a record high fixed last week, buoying investor interest to its senior brother.

Bitcoin Cash is trading at around $270 per token with the market capitalization of the newcomer floating near $4.4 billion, according to Coin Market Cap.

“The scaling debate is not over yet. The promised 2mb block size increase due in November in accordance with the SegWit2x agreement may still be rejected by certain stakeholders,” the analyst stressed.

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Russia to reduce reliance on US dollar & payment systems in response to sanctions www.rt.com

 
The Russian government will intensify efforts to cut the country’s dependence on US payment systems and the dollar as a settling currency, said Deputy Foreign Minister Sergey Ryabkov on Monday, as quoted by RIA Novosti.
“We will, of course, speed up the work on import substitution, reduce dependence on US payment systems, on the dollar as a settling currency and so on. It is becoming a vitally important,” said Ryabkov.
“The US is using its dominating role in the monetary and financial system to impose pressure on foreign business, including Russian companies,” added the deputy minister.
After Washington imposed sanctions on Moscow in 2014, the MasterCard international payment system stopped serving clients of seven Russian banks without warning.
In response, the Russian government ordered the creation of a national payment system. With the support of the country's banking system, the Mir charge card was introduced in 2015.
Last week, US President Donald Trump approved the law imposing new restrictions on the Russian banking and energy sectors. The ban targets already sanctioned Russian firms, limiting the financing period for them to 14 and 60 days.
The new law will punish individuals for investing more than $5 million a year or $1 million at a time in Russian energy export pipeline projects or providing such enterprises with services, technology or information support.
The measure aims to punish Russia for alleged meddling in the 2016 US presidential election. It comes as an extension of the penalties imposed on Russia over the conflict in Ukraine and Crimea.
Shortly after the new law was passed, Standard & Poor's said the measure would not affect Russia's sovereign credit ratings.
“At the moment, it is unclear whether the new US sanctions bill will further hamper what we currently regard as only modest medium-term economic growth prospects for Russia since much will depend on how the bill will be implemented,” the agency said.
US-based energy corporations sharply criticized the tightening of already existing sanctions as damaging for business.
At the same time, the European Union expressed concerns the new penalties may undermine the bloc’s energy security. European Commission head Jean-Claude Juncker pledged to prepare an “adequate” response and “within days” if the measure hurt the interests of European companies.
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Iron ore soars at $76 a tonne www.mining.com

Iron ore hit its highest level since April driven by the demand of China’s steel industry, whose production grew by 4.6 per cent in the first half of this year and whose imports of the steelmaking raw material are on course to exceed 1 billion tonnes in 2017.

Since falling to $53 in May, iron ore prices have climbed by more than 40 per cent. On Monday, Benchmark Australian ore with 62 per cent iron content was up 3 per cent at $76.10 a tonne, according to the Steel Index.

Many Chinese mills, such as those in northern provinces asked by the government to lower output in an effort to cut emissions, are investing in larger and less polluting blast furnaces that allow them to run at full capacity. To take advantage of such technology and achieve their production goals, operators are demanding larger amounts of higher grades ores with iron content of 62 per cent and above.

The new development has been well received by big suppliers such as Vale (BZ:VALE5), BHP Billiton (ASX, NYSE:BHP) and Rio Tinto (ASX, LON:RIO), particularly as the latter expects shipments from Down Under to reach 330 million tonnes this year.

On Monday, Rio's shares rose 2.2 per cent in Sydney, while BHP’s were up 2.5 per cent.

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Kremlin Plans Rapid Healthcare Reform in Time for Presidential Election www.themoscowtimes.com

Russian authorities will unroll healthcare reform nationwide in time for presidential elections next year, the Vedomosti newspaper reported, citing a source close to the Kremlin.

The Health Ministry says the organizational reforms for clinics, which were piloted last year, can reduce waiting times twelve-fold and boost consumer satisfaction by 10-15 percent.

Implementation of the scheme was planned through 2023.

But the Kremlin, recognizing its vote winning power, aims to launch the reforms across the country within months, Vedomosti reported.

“It will be one of the ongoing programs whose first results we can show to voters during the campaign,” Vedomosti cited a source close to the Kremlin as saying.

Vladimir Putin is expected to contest and win presidential elections next March, giving him what would be a fourth term.

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