1 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      2 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      3 AIRBNB IS USING WHAT3WORDS TO LIST STAYS WITH MONGOLIAN NOMADS WWW.TECHCRUNCH.COM PUBLISHED:2018/11/20      4 LOCAL PRECIOUS METAL ASSAY LABORATORY PURIFIES 99 KG OF GOLD WWW.MONTSAME.MN PUBLISHED:2018/11/20      5 LEGISLATOR OF MONGOLIA'S RULING PARTY SUBMITS PROPOSAL ON DISMISSING GOVERNMENT WWW.XINHUANET.COM PUBLISHED:2018/11/20      6 SHOCK DECISION: CHINA CLOSES BORDER TO COAL IMPORTS FROM MONGOLIA WWW.NEWS.MN PUBLISHED:2018/11/20      7 STRATEGY INTRODUCED TO FOSTER PRIVATE SECTOR IN WESTERN MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      8 MONGOLIA TO STRENGTHEN ECONOMIC TIES WITH RUSSIA WWW.XINHUANET.COM PUBLISHED:2018/11/19      9 VOLKSWAGEN TO SPEND $50 BILLION ON ELECTRIC CAR 'OFFENSIVE' WWW.CNN.COM PUBLISHED:2018/11/19      10 HABITABILITY OF MONGOLIA UNDER THREAT FROM CLIMATE CHANGE WWW.ADELAIDENOW.COM.AU PUBLISHED:2018/11/19      ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20     ХАЙНАНЬД ЗУГААЛАХ ГЭСЭН МОНГОЛЧУУД УЛААН-ҮҮДЭЭС НИСЭХ ТАСАЛБАРЫГ ХУУ ХАМЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/20     ГАШУУНСУХАЙТ БООМТ: ЖОЛООЧ НАРЫН МЭДЭЭЛЛИЙГ УРЬДЧИЛАН ЯВУУЛАХ БАЙДЛААР АСУУДЛЫГ ШИЙДВЭРЛЭХЭЭР БНХАУ-ТАЙ ТОХИРОЛЦЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     ЗАМЫН НӨХӨӨС, 100 ГАРУЙ ТӨРЛИЙН РЕЗИНЭН БҮТЭЭГДЭХҮҮН ДОТООДОД ҮЙЛДВЭРЛЭЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20     АЛТНЫ ОЛБОРЛОЛТ ЭДИЙН ЗАСГИЙГ ДЭМЖИЖ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛЫН АНХНЫ ХУВИЙН ХӨРӨНГИЙН БИРЖИЙН ХОЁР ДАХЬ БҮТЭЭГДЭХҮҮН: “ПАРК ТАУН” БОНД WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛ, ОХУ-ЫН ТЭЭВРИЙН САЛБАРЫН ХАМТЫН АЖИЛЛАГААГ ӨРГӨЖҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/20     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    

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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Putin wants to tax bitcoin, cryptocurrency mining & regulate initial coin offerings www.rt.com

Russian President Vladimir Putin has ordered the government to create laws governing the status of bitcoin, other cryptocurrencies, mining, ICOs, as well as defining everything that relates to digital money by July 2018, according to the Kremlin.

The miners of bitcoin, ethereum, and other virtual currencies will have to register and pay taxes.

Putin also wants regulation of ICOs (initial coin offerings), taking as a basis the practice of initial public offerings (IPOs).

The same position is held by US regulators, In July, the US Securities and Exchange Commission recognized tokens as securities, which means their release must be accompanied by appropriate procedures by qualified investors and registration. Tokens are digital money offered by companies (usually backed by their goods) in exchange for investment.

By December 20, this year the Russian government should create a special “sandbox," based on the instruments of the Central Bank to test the new financial technologies, products and services.

Earlier this month, Putin said the use of cryptocurrencies poses serious risks that must be taken into account when regulating them.

As cryptocurrencies “are issued by an unlimited number of anonymous sources,” in case of any problems, including “system malfunctions” or the emergence of currency bubbles, there will be no one liable, Putin warned.

To date, cryptocurrencies in Russia are not officially regulated. The Ministry of Finance has suggested introducing mandatory registration of cryptocurrency miners and only to allow legal entities and individual entrepreneurs to participate.

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Twitter promises more ad transparency www.bbc.com

Twitter has pledged to make advertising more transparent as it attempts to fend off proposed new regulations.

It said it would be clearer about who funded ads and to what end, especially those pushing a political agenda.
The company, like several tech firms, is keen to show it can self-regulate after it was found that Russian-backed groups were exploiting its ad platform.
Several key senators, from both sides of the US political divide, have backed measures clamping down on online ads.
The Honest Ads Act would regulate ad sales on social networks, search engines, websites or apps that have more than 50 million US visitors each month for the majority of months in a year.
The rules would bring it closer in line with restrictions and disclosures required when placing political messages on TV or radio stations.
'Good first step'
Twitter hopes its own measures, announced on Tuesday, will be at least partly enough to convince senators it is capable of tackling the problem itself.
Senator Mark Warner described the changes as “a good first step”, adding: “Online political ads need more transparency and disclosure.”
Twitter’s new measures include:
An Advertising Transparency Center that will allow users to view what advertising campaigns are currently active on the site
A special label for ads funded by political campaigns, including details on who the ad was targeted at
Unspecified penalties for marketing firms that push political ads without being transparent about their origin
More shared information about how long an ad campaign has been running
A blog post outlining the changes added: "People can also report inappropriate ads or give negative feedback (i.e. “I don’t like this ad”) for every ad running on Twitter, whether the ad targets you or not.
"This feedback will help us more quickly remove inappropriate ads from Twitter, and show you more relevant ads in your timeline.”
From Russia with tweets
Twitter, Facebook and Google face a Senate hearing next week in which they will be expected to describe and explain the extent in which Kremlin-backed accounts abused the sites’ advertising platforms.
At a hearing held last month, Twitter was criticised for not doing enough research into the matter. Senator Warner, who sits on the committee investigating Russian interference in last year’s presidential election, said Twitter’s appearance was “deeply disappointing”, and consistently mainly of information already divulged by Facebook.
That information included details about more than 400 Facebook profiles that the company found were likely being run by so-called “trolling farms” in Russia.
These farms would employ people to trawl the internet to post inflammatory comments - often focusing on a particular issue, like race or immigration, rather than a specific candidate.
Analysis of the activity has suggested the efforts were targeted at US swing states, i.e. areas where the election race is tight.
Google has said it discovered a small amount of ad buy - $4,700 - linked to Russian government groups. However, that does not include advertising and accounts on YouTube, something Google is still investigating, it said.

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October 23, 2017 trading report www.mse.mn

On October 23, 2017, 199,097 shares of 24 firms listed as Tier I, II, and III were traded. 7 firms’ shares increased in price, 13 decreased and 3 remained unchanged. Mongol Savhi JSC /UYN/ was the top performer, increasing 14.26 percent, whereas Mogoin Gol JSC /BDL/ was the worst performer, decreasing 14.48 percent.

On the secondary market for corporate bonds, 1 bonds worth MNT100,000 were traded.

The MSE ALL Index rose 1.08 percent to stand at 1,156.07. The MSE market cap stands at MNT 2,269,745,955,740

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Xi's China a boon for mining www.mining.com

Most analysis of the 19th National Congress of the Communist Party of China has focused on how President Xi Jinping is consolidating his already considerable power acquired through a purge of opponents in a corruption crackdown that shows no sign of slowing down.

Despite its three-and-a-half hour running time Xi's speech (referred to as the Report) in front of the 2,300-delegates assembled in the Great Hall of the People, paid relatively short shrift to the direction of the world's second largest economy.

In a research note, Julian Evans-Pritchard of Capital Economics found that Xi used the word economy (经 济) 70 times during the speech giving it considerably less prominence than his predecessors. And that's going back all the way to Hu Yaobang's 1982 address which talked about the economy 104 times.

The word market (市 场) received less of an airing than it did in 1992 (19 vs 58 times) while Xi mentioned competition (竞争) only six times, giving the term the least prominence in 30 years.

Xi's emphasis fell on the party (331 times), the military (86) and politics (91). The 36 times Xi's talked about a "new era" for China, he presumably wasn't talking about the country's economy.

Evans-Pritchard says the Chinese leader is prioritizing politics over market reforms:

Xi’s comment that “housing is for living in, not speculation” has drawn attention but is consistent with current policy. The only concrete new measure we could find is a pledge to extend rural land rights by 30 years.

Xi did mention a need to focus on the quality of growth rather than the speed. But he also re-iterated an earlier pledge to build a “moderately prosperous society” by 2020 which effectively means sticking with aggressive growth targets for the next few years.

Most noteworthy was Xi’s unambiguous call to “make state firms strong and big” and to “guard against the loss of state assets”. This should dash any remaining hopes that a market-led shake-up of the state sector may occur in Xi’s second term.
Evans-Pritchard, the London-HQ research firm's China economist, concluded that Xi speech "suggests that many of China’s structural problems that are, in our view, caused by the state’s outsized role in the economy, will remain unresolved."

However, Xi and the communist party's strategy for strong state-owned firms and economic growth should be, at least in the medium term, a boon for the mining industry.

China's government-led investment in infrastructure and the housing market set off the commodity supercycle in the early 2000s. Xi's promise to "support state capital in becoming stronger" should mean more of the same.

And Xi's enormous power also means his pet projects should receive the full backing of the state.

The One Belt One Road initiative to recreate the Old Silk Road connecting Asia with Europe was mentioned five times during the speech. (Mao Zedong and Deng Xiaoping received four mentions each)

Another mega-undertaking, Beijing-Tianjin-Hebei integration, which includes the Xiongan New Area, Xi mentioned twice.

And even if the party's priorities are shifting away from market-orientated reforms, Beijing's transformation of its heavy industries coupled with programs to fight pollution has already benefitted mining.

For instance, eliminating overcapacity has boosted profitability in the domestic steel industry and in the process steelmaking raw material prices have been dragged higher. At the end of last year consensus forecast for the iron ore price was $57 a tonne during 2017. Year-to-date it's averaging $71.

Copper's trajectory this year is similar. Beijing's focus on infrastructure, transportation and housing has seen the bellwether metal top $7,000 a tonne for the first time in three years. The consensus forecast in December last year? Below $5,000.

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Amazon receives 238 proposals for its second headquarters www.reuters.com

(Reuters) - Amazon.com Inc has received 238 proposals from cities and regions across North America vying to host the company’s second headquarters, it said on Monday.

The number of applicants underscores the interest in the contest, which Seattle-based Amazon announced last month. The world’s largest online retailer said it would invest more than $5 billion and create up to 50,000 jobs for “Amazon HQ2”. The deadline for submitting proposals was Thursday.

Amazon said 54 states, provinces, districts and territories in the United States, Canada and Mexico were represented in the bids.

Some said this month they could offer Amazon billions of dollars in tax breaks if they were chosen. New Jersey proposed $7 billion in potential credits against state and city taxes if Amazon locates in Newark and sticks to hiring commitments, for instance.

Amazon did not disclose the range of incentives it was offered in the proposals.

Others took different tactics. The mayor of the Atlanta suburb of Stonecrest, Jason Lary, said his city would use 345 acres of industrial land to create a new city called Amazon. Amazon Chief Executive Jeff Bezos would be its mayor for life, Lary said.

Amazon is expected to choose a city that will help it recruit top talent to stay competitive with rivals such as Alphabet Inc’s Google.

The company has said it will make a decision next year.

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Mongolian children return home after medical treatment in China www.china.org.cn

BEIJING, Oct. 23 (Xinhua) -- China has provided free medical treatment for 12 Mongolian children with congenital heart diseases, the Chinese Red Cross Foundation (CRCF) announced Monday.

The CRCF conducted congenital heart disease screenings in Mongolia last month, and brought 12 children to Hohhot, capital of north China's Inner Mongolia Autonomous Region, for medical treatment.

The surgeries were successful and all of the children have been discharged from hospital and returned to Mongolia, according to the CRCF.

Mongolia is one beneficiary of the humanitarian aid program targeting children in Belt and Road countries.

The 12 children were the first group from Mongolia to be treated under the program, which is expected to assist 100 Mongolian children.

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Mongolian microfossils point to the rise of animals on Earth www.news.yale.edu

A Yale-led research team has discovered a cache of embryo-like microfossils in northern Mongolia that may shed light on questions about the long-ago shift from microbes to animals on Earth.

Called the Khesen Formation, the site is one of the most significant for early Earth fossils since the discovery of the Doushantuo Formation in southern China nearly 20 years ago. The Dousantuo Formation is 600 million years old; the Khesen Formation is younger, at about 540 million years old.

“Understanding how and when animals evolved has proved very difficult for paleontologists. The discovery of an exceptionally well-preserved fossil assemblage with animal embryo-like fossils gives us a new window onto a critical transition in life’s history,” said Yale graduate student Ross Anderson, first author of a study in the journal Geology.

The new cache of fossils represents eight genera and about 17 species, comprising tens to hundreds of individuals. Many of them are spiny microfossils called acritarchs, which are roughly 100 microns in size — about one-third the thickness of a fingernail.

The Khesen Formation is located to the west of Lake Khuvsgul in northern Mongolia. “This site was of particular interest to us because it had the right type of rocks — phosphorites — that had preserved similar organisms in China,” Anderson said.

The discovery may help scientists confirm a much earlier date for the existence of Earth ecosystems with animals, rather than just microbes. For two decades, researchers have debated the findings at the Doushantuo Formation, with no resolution. If confirmed as animals, these microfossils would represent the oldest animals to be preserved in the geological record.

The other authors of the study are Derek Briggs, Yale’s G. Evelyn Hutchinson Professor of Geology and Geophysics and curator at the Yale Peabody Museum of Natural History; Sean McMahon, a postdoctoral fellow in the Briggs lab; Francis Macdonald of Harvard; and David Jones of Amherst College.

The researchers said the Khesen Formation should provide scientists with additional information for years to come.

“This study is only the tip of the iceberg, as most of the fossils derive from only two samples,” Anderson said. Since the original discovery, the Yale team has worked with Harvard and the Mongolian University of Science and Technology to sample several additional sites within the formation.

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BoM issues 1-week bills www.mongolbank.mn

The Bank of Mongolia traded 576.7 billion MNT worth 1-week maturity central bank bill (“CBB”), with weighted average yield of 12.0 percent per annum.

1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.

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Fitch and S&P rate IDR of Mongolia 'B' www.montsame.mn

Ulaanbaatar /MONTSAME/ The Fitch Ratings and S&P, international credit rating agencies, have rated the Mongolian Government’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at 'B', same as the previous rating.

The agencies reviewed, “Although the budget deficit of Mongolia is stabilizing, the expense ratio remains high. Whilst Mongolia joined the International Monetary Fund’s program, the debt amount is expected to stay high between 2017 and 2020."

On the other hand, mega projects on the mining sector is expected speed up the economy, since the rating is ‘stable’. Additionally, the rating agencies warned, "the fact that Mongolia is dependent on mining sector, has high external risk and limited monetary policy environment, might affect the rating."

The rating agencies stated that if the Oyutolgoi and Tavan Tolgoi projects could support the economic growth, budget and external sector indicators better than the agencies’ expectations, the long-term bond rating of the Government of Mongolia could be increased. In the case of deterioration in the external balance, the rating may be reduced as well.

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Kincora advances district scale porphyry exploration with drilling at the Ulgii Khud massif, Southern Mongolia www.kincoracopper.com

Vancouver, BC— October 24th, 2017 Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to announce drilling is underway at its wholly owned Argalant, Central West Ulgii Khud and prospects located on the margins of the Ulgii Khud massif in the Southern Gobi, Mongolia.

Four holes by percussion drilling with diamond tails (total up to 2000 metres) are planned to test targets generated from basement analysis and interpretation of last years ground magnetic survey. The first phase program will see two holes completed at the Argalant prospect, before drilling the Central West Khiid Ulgii and West Khiid Ulgii prospects. The drilling program will test magnetic low zones along interpreted north-south structures, targeting intrusions or alteration to support porphyry targets within favourable arc transverse settings.
Historic Ivanhoe samples on limited areas of outcrop for the Ulgii Khud massif support it being a potential copper-gold mineralized system and to the best of Kincora’s knowledge no drilling has taken place into the intrusion or its margins under cover.
Sam Spring, President & CEO, commented: “The Ulgii Khud massif is along the north-east arc parallel Oyu Tolgoi-Tsagaan Suvarga Devonian belt. Porphyries in more mature and well understood copper belts are known to occur in favorable structural settings and do not occur in isolation. The two currently economic deposits in the Southern Gobi copper belt are interpreted to be controlled by arc transverse structures within Late Devonian age intrusions.
This maiden drilling program is testing four potentially favorable arc transverse structures at moderate depths on the margin of the Ulgii Khud massif and is expected to provide important geological understanding to this very large, but previously undrilled intrusive complex where limited previous surface exploration supports a potential copper-gold system under cover.
This drilling program continues the implementation only in the last quarter of the first modern systematic Tier 1 copper porphyry drill testing and district scale reconnaissance exploration program in the highly mineralized but vastly under explored Southern Gobi Devonian belt. Following the recently two tranche private placements Kincora will complete approximately 20,000 metres of drilling over a 9-12 month period.”

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