1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     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    

Events

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

NEWS

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Mongolian Immigration Agency warns of fake visas www.news.mn

The Mongolian Immigration Agency has discovered several incidents of people using fake visas to enter Mongolia as temporary visitors. The people in question are coming to Mongolia for various reasons including business and tourism.

Foreigners without the necessary documentation must be aware that, under Mongolian law, they are committing a crime and will face fines, deportation and bans on future entry into the country.

The Mongolian Immigration Agency recommends foreign nationals who are planning to come to Mongolia to obtain visas from the appropriate authority - normally a Mongolian consulate or embassy. The citizens of many countries can visit Mongolia as tourists for up to one month, without obtaining a visa before leaving. People should check in advance that their country is on the list and be aware that they will be fined for overstaying the one month period.

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Military aviation makes up bulk of Russian arms exports www.rt.com

Russian state arms exporter (Rosoboronexport) expects military aviation equipment to constitute over 50 percent of 2017 exports, said deputy head Sergey Ladygin in an interview with Sputnik during the MAKS-2017 international air show.

"According to our estimates, the tendency for the growth of export and larger contracts on items for the air force will continue. We expect the aviation component of Rosoboronexport contracts to go over 50 percent in 2017,” he said, adding the countries of the Middle East and the Pacific Rim will be “chief importers of this type of weaponry."

Ladygin said the surge of interest in Russian military aircraft coincided with the beginning of Russian air operations in Syria. He explained that Su-30, Su-35 airplanes, and Mi-28, Ka-52 and Mi-17 helicopters are in demand as they have been "tested in combat."

Annually aviation-related equipment exported has been about 45 percent of the total over the last five years. The three largest contracts signed by the company last year were related to aviation equipment.

"It is no secret that aviation makes up a significant part of our exports. In the first half of 2017, our contracts for the export of weaponry and military equipment for air forces amounted to about $2 billion,” said Ladygin.

At the moment, the company's aviation-related export contracts amount to more than $19 billion, according to Rosoboronexport.

 
 
 
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Indian Ambassador pays courtesy call on President Kh.Battulga www.montsame.mn

Ulaanbaatar /MONTSAME/ Today, 20 July, Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia Suresh Babu paid a courtesy call on President of Mongolia Kh.Battulga. At the beginning of the meeting, Ambassador Suresh Babu handed over the letter sent by the President of India Pranab Mukherjee and Prime Minister Narendra Modi to President Kh.Battulga.

The parties underlined that Mongolia and India have had religious and cultural ties from time immemorial and in recent years, the two countries have expanded the relationship in the fields of defense, security, education and information technology. President of Mongolia Kh.Battulga emphasized that the development of the information technology sector is strategically significant as Mongolia is a landlocked country and he plans to take a leadership role in the issue as the head of the country.

During the first visit by the preceding President of Mongolia to India 8 years ago, India pledged to give loan of USD20 million and the resolution of the issue is going very slowly. President Kh.Battulga said it would be beneficial to spend the loan for the development of information technology and training personnel. He has a proposal to establish a branch of the Indian Institute of Technology in Ulaanbaatar and he requested the Ambassador to convey his proposal to Prime Minister Narenda Modi and his readiness to implement the project under the President’s auspices. The Indian Institute of Technology is one of the world’s leading institutes of information and technology. Currently, more than 60,000 students are studying at the institute.

The Prime Minister of India Narendra Modi visited Mongolia in 2015 on the occasion of the 60th anniversary of the establishment of diplomatic relations between Mongolia and India. During the visit, the two sides agreed to establish a Mongolian and Indian joint school of information technology. Works are underway to realize the agreement jointly with the Foreign Affairs Ministry of Mongolia and the Ulaanbaatar Mayor's Office, noted Ambassador Suresh Babu. The heads of the two countries can work together in this direction as the President of India chairs the IT Steering Committee, mentioned Ambassador Suresh Babu, also emphasizing the importance of collaboration in cyber-security issues.

Even though the two countries have long traditional relations, the economic and trade turnover has been at insufficient level, marked the President, putting his proposal to establish an Indian trade center in Ulaanbaatar, which would lead to the economic and trade turnover increase. President of Mongolia Kh.Battulga stressed that joining the proposal of India to open a direct flight between Ulaanbaatar-Deli with the proposal of the President of Mongolia to establish an Indian trade center in Ulaanbaatar would bring good results.

B.Ooluun

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Centerra gets some breathing room in dispute with Kyrgyz Republic www.mining.com

Canada's Centerra Gold (TSX:CG) has been granted some provisional relief in its ongoing arbitration against the Kyrgyz Republic and state-owned miner Kyrgyzaltyn, related to the firm’s vast Kumtor gold mine.

The miner sought international arbitration in May last year, following the country’s string of penalties, fees and accusations of damaging the environment and violating business deal, all of which the firm considers to be without merit.

The Vancouver-based company, the largest Western-based gold producer in Central Asia, said late Wednesday the arbitrator sided with the company, finding evidence that Centerra had both made out a case for the arbitrator to take jurisdiction over the arbitration proceeding and been convincing regarding the merits of the case, unless proved otherwise.

Centerra, which in January filed a request for a partial award or interim measures against the Kyrgyz Republic, is seeking an award ordering the Kyrgyz Republic withdraw or suspend its several claims and related decisions and court orders.

Such decision came on the heels of a court order forcing Centerra's local subsidiary, Kumtor Gold Company (KGC), to pay about $98 million in fees related to their mine waste. That was on top of an earlier court decision ordering Kumtor, the country's biggest gold mine, to pay a $10,000 fine.

The operation has been the focus of a number of disputes between the company and the Kyrgyz government.

Last year, Kyrgyz prosecutors went as far as to raid the company's offices to collect documents related to a suit alleging financial violations by Centerra.

Kumtor, which lies near the Chinese border at an altitude of 4,000 metres, has produced around 10 million ounces since inception and remaining reserves are 5.6 million ounces. In November Centerra said it was increasing its gold output guidance for the mine to 520,000 to 560,000 ounces and lowering all-in sustaining cost forecast to $666 – $718 per ounce.

Centerra has been shopping for assets in safer jurisdictions as of late. Last year, it bought out US-based Thompson Creek Metals (TSX:TCM) including the Mount Milligan copper-gold mine in British Columbia, Canada.

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Lenovo teams up with JD to build big data platform www.chinadaily.com

 

Lenovo Group Ltd announced on Thursday it had teamed up with JD.comInc, China's second biggest e-commerce player, to build a big data platform, as the two make joint efforts to tap into opportunities brought about by artificial intelligence.

The move is part of Lenovo's broader push to leverage AI to breathe new life into its PC, smartphone, data center and other hardware businesses.

Lenovo Chairman and CEO Yang Yuanqing said JD has accumulated huge amounts of e-commerce data from consumers who love buying electronics online, while Lenovo knows how millions of its devices are being used every day.

"When the two types of data are analyzed, they can generate big value, such as predicting exactly how many computers will be in demand next month," Yang said.

"It can help Lenovo better manage the supply and demand of our products."

Lenovo and JD said they aim to sell 80 billion yuan ($12.04 billion) worth of consumer electronics in three years, up from the 60 billion yuan target they promised last year.

Liu Jun, president of Lenovo's China unit, said personal computers sales alone would reach 60 billion yuan. Mobile phones will account for 15 billion yuan, with the rest generated from other smart devices such as speakers.

Liu also said Lenovo aims to overhaul its more than 10,000 offline retail stores, in a move to adapt to consumers' changing shopping habits.

"Currently, most of them sell only personal computers. We will turn them into cool retail stores which sell a wide range of consumer electronics," Liu said.

Lenovo is stepping up its investments into new technologies including AI, in an effort to reduce its reliance on PCs and revive its tumbling smartphone business.

The company said in April that it would pour $1.2 billion into research and development of artificial intelligence, the internet of things and big data over the next four years.

Rui Yong, chief technology officer of Lenovo, said the company's edge in big data, computing power and algorithms could help it stay competitive and relevant in the AI era.

"We have the largest number of manufacturing data groups in China. Of the top 500 high-performance computers in the world, 91 of them are made and operated by Lenovo," Rui said.

Lenovo also signed a deal with Chinese electric vehicle startup NIO on Thursday to jointly develop a computing platform to drive smart driving.

Xiang Ligang, CEO of telecom industry website cctime.com, said Lenovo could gain a lead in AI, if it could swiftly implement its strategy and utilize its advantages in information infrastructure.

 
 
 
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Rio Tinto’s PE-style Ventures to tap disruptive global trends www.theaustralian.com

Rio Tinto energy and minerals boss Bold Baatar plans to bring his private equity experience to running a Ventures business that will chase new minerals associated with technological disruption, with the miner prepared to buy and then sell projects to make cash.

Earlier this year, The Australian revealed Mr Baatar had been given a brief to search for new investments and tie-ups in commodities that will benefit from changing global trends such as the push towards renewable energy.

The move is seen as one that could further differentiate Rio from its major peer, BHP Billiton, which under chief executive Andrew Mackenzie is firmly focused on large projects in four key commodities: iron ore, coal, copper and petroleum.

Mr Baatar, a former Wall Street investment banker who spent a decade working on leveraged buyouts and selling companies for the largest private equity firms, said buying, improving and selling assets was now seen as a way to add more value.

“We will be seeking to maximise returns through active portfolio management,” Mr Baatar told a London resources conference. “This means having the discipline to buy and then monetise. We will continuously analyse the growth profile of our assets against the set return of thresholds, being ready to sell at the right time for the right value.”

He noted this approach in his minerals and energy business was a very different approach to Rio’s management of its big iron ore, copper and aluminium businesses.

The recent decision to sell Rio’s Hunter Valley coal assets to Yancoal Australia in a $US2.69 billion ($3.4bn) deal was an example of Rio’s willingness to sell assets at the right time for a good price, he said.

“Thermal coal has been historically important for Rio Tinto and exiting at the right time was hard but required discipline,” Mr Baatar said. “This private equity mindset will be increasingly important, allowing us to recycle capital and continuing to grow and pioneer in new areas and commodities.”

The Ventures business and its focus on trends was spurred by work on Rio’s Jadar lithium and borate deposit, discovered in Serbia in 2004. Jadar has the potential to become one of the world’s top three producers of lithium, where demand is forecast to surge on the back of increased demand for lithium-ion batteries in electric cars.

Mr Baatar said Rio was focused on trends like continued Chinese urbanisation, growing global interconnection of markets, longer lifespans and working lives and shrinking populations in many Western economies. “These trends and shifting consumer preferences for environmentally friendly technology are generating new opportunities for other minerals and metals which are currently not in our portfolio but essential for human progress,” he said.

He has previously declined to flag the minerals Rio is looking at for fear of driving prices higher.

“Our Ventures business will look for strong partnerships with asset owners and joint venture partners,” Mr Baatar said.

“We’re seeking partnerships where we can add value from our track record of engineering and operating excellence, sales and marketing channels, existing customer relationships and technical expertise.”

Projects at pre-feasibility stage or later will be targeted by Ventures, while Rio’s exploration team would continue to seek earlier stage projects.

Mr Baatar said the world was facing the biggest technological disruption since Rio started 145 years ago, demanding a dramatic shift in the way miners thought.

“If the disruptive revolution has taught us anything, there is no industry that is immune — Silicon Valley is taking industry after industry,” he said.

The mining industry needed to work with the engineers of the disruption, or it would join the ranks of Eastman Kodak and Nokia, Mr Baatar said.

“In 20 years’ time, we will see this era as a key turning point for our industry,” he said. “We have never before seen such a coming together of trends and challenges.

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Z.Enhkhbold requests withdrawal of two Mongolian Ambassadors www.news.mn

Z.Enkhbold, Chief of Presidential Staff of the Office of the President proposed a compromise on the withdrawal of some Mongolian Ambassadors. He requested the specific withdrawal of S.Bayar, Mongolian Ambassador to Great Britain and M.Enkhsaikhan, Mongolian Ambassador to Sweden on the basis of Constitutional article 1-5.

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Mongolia GDP Growth Rate YoY www.tradingeconomics.com

The Gross Domestic Product (GDP) in Mongolia expanded 4.2 percent in the first quarter of 2017 over the same quarter last year. GDP Growth Rate in Mongolia averaged 5.42 percent from 1991 until 2017, reaching an all time high of 17.50 percent in the fourth quarter of 2011 and a record low of -9.30 percent in the fourth quarter of 1992.

Please review the full version on http://mongolianbusinessdatabase.com/base/sourcesdetials?id=17 

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In Mongolia's yurt slums, nomads dream of city life www.msn.com

On the steep hills encircling Mongolia's capital, skyscrapers and apartments give way to ramshackle bungalows and tattered yurts, in rickety fenced enclosures with no running water.

The "ger" districts' crowded residential clusters and smoggy grey air are a far cry from the sprawling grasslands that Jamiynsurengiin Olzod, a 35-year-old seamstress, once called home.

But like many of the suburban slum inhabitants, she gave up the traditional nomadic lifestyle of Mongolia's 900,000-strong herder population to move to Ulan Bator, harbouring dreams of richer opportunities in the urban centre.

"It's very hard, but life in the countryside is even harder," Olzod said as she lay in bed in the yurt she shares with her three children.

She moved in the hopes of getting an education, but Mongolia's rural-to-urban migration is also linked to the "dzud", a unique weather phenomenon characterised by long droughts and severe winters with temperatures as low as -50 degrees Celsius (-58 degrees Fahrenheit).

More than 40,000 livestock perished from the cold during this winter's dzud, which analysts believe is occurring with greater frequency owing to climate change.

The result is an increasingly urban society: nearly two-thirds of the population lived in the countryside in 1960, now less than one-third does.

Around half Mongolia's population lives in the capital, with the majority residing in 'ger' (yurt) districts, unplanned communities linked by bumpy dirt roads, disconnected from the central electricity grid and lacking proper sewage systems

Around half the country's population of three million lives in the capital, with the majority residing in "ger" (Mongolian for "yurt") districts, unplanned communities linked by bumpy dirt roads, disconnected from the central electricity grid and lacking proper sewage systems.

Populist businessman Khaltmaa Battulga -- who grew up in a ger district himself -- promised to eradicate poverty when he was sworn in as president on Monday, inheriting a $5.5 billion International Monetary Fund-led bailout to revive the flagging economy.

The World Bank estimates that at least 60 percent of those residing in ger districts are unemployed.

The rapid growth of these settlements prompted the city's mayor to pass a decree at the start of 2017 restricting migration for a year and halting the expansion of power lines.

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"Expo Mongolia 2017" to welcome delegates from 100 countries www.gogo.mn

"Expo Mongolia 2017" international exhibition and conference will be held at the Misheel Expo on October 10-12, with the aim to support the growth of major economic sectors, such as mining, construction and transportation and introduce advanced technology.

The 5th exhibit is expected to be attended by more than 2,000 guests, representatives and experts from over 100 countries and will discuss business partnerships and product sales and introduce advanced innovative technologies.

The exhibition will be organized jointly by the Ministry of Mining and Heavy Industry, Ministry of Road and Transport Development, Ministry of Construction and Urban Development, the Governor’s Office of the Capital, Mongolian National Chamber of Commerce and Industry as well as the Federal Ministry of Economic Affairs and Energy of the Federal Republic of Germany, and the "Heavy Equipment Manufacturers Association" and the American Chamber of Commerce in Mongolia and French and Mongolian Chamber of Commerce.

Exhibitors will be able to schedule and hold meetings with international guests, through organizers.

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