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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Rio’s revised iron ore guidance pushes price to three-month high www.mining.com

Prices for iron ore skyrocketed Tuesday as Rio Tinto (ASX:LON:RIO), the world’s second largest exporter, warned Tuesday that shipments from Australia were expected at about 330 million tonnes in 2017. That’s down from its April forecast of 330 million-to-340 million tonnes.

Ore with 62% content in Qingdao added $2.03 a tonne overnight, to close at $68.84 a tonne Tuesday, the highest level since mid-April according to the Metal Bulletin.

From the recent low of $53.36 a tonne hit on June 13, the benchmark price has now added more than 27% — an impressive return in a little over a month.

The surge also follows the release of strong Chinese Q2 GDP figures on Monday, including the news that crude steel output from the world’s largest producer climbed to the highest level on record in June.

Additionally, China's imports of the steelmaking raw material this year are on course to exceed 1 billion tonnes, breaking last year's record.

From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.
The fresh rally has not made main forecasters change their negative outlook for the iron ore prices. Morgan Stanley recently cut its estimated third quarter price and the investment bank now sees iron ore averaging $50 a tonne over the period, climbing to $55 in the final three months.

For the year as a whole Morgan Stanley expects the commodity to average $63 compared to a year-to-date average of $74. It also said it expected iron ore to continue to soften averaging $58 next year and $54 in 2019.

The latest forecast from the Morgan Stanley is more optimistic than predictions in a research note Citigroup released last month. The bank lowered its price outlook by a fifth saying iron ore will average $48 a tonne in Q4 2017, down from $60 in its previous prediction.

Both analysis blame growing global supply – particularly from Vale's S11D mine and Roy Hill in Australia hitting full production – for the weak outlook. According to Citigroup, 2017 will see a surplus of 118m tonnes following a more than 60m tonnes glut last year. Morgan Stanley predicts nearly 40m tonnes of oversupply this year, growing steadily to top 120m tonnes in 2019 and 185m excess tonnes in 2021.

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UK 'now less appealing' to rich Chinese www.bbc.com

The UK has slipped down the list of preferred destinations for Chinese millionaires considering moving overseas, a report suggests.
While the US remains the favourite place to settle, Canada now ranks second pushing Britain into third spot.
The survey found around half of those millionaires quizzed were mulling a move abroad.
Pollution, education and the falling value of the Chinese yuan depleting savings were all reasons given.
The study by Huran Report and Visa Consulting Group surveyed 304 Chinese individuals with a net worth between $1.5m and $30m. About half were based in Beijing, Shanghai, Guangzhou or Shenzhen.
"Education and pollution are driving China's rich to emigrate," said Huran Report chief researcher Rupert Hoogewerf.
"If China can solve these issues, then the primary incentive to emigrate will have been taken away."

Currency concerns
The report had no details on why the UK had slipped behind Canada.
Los Angeles was the favourite destination for wealthy Chinese followed by Seattle, San Francisco and New York. London ranked 14th.
The strength of China's currency, which fell to an eight-month low last November, is clearly playing on the minds of many of China's rich.
Of those surveyed, 84% said worries about devaluation was a key factor driving them overseas.

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Japanese Speaker of House of Representatives visiting Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ At the invitation of Parliament Speeker M.Enkhbold, Speaker of the House of Representatives of Japan Tadamori Oshima is visiting Mongolia on July 17-19.

Within the framework of his visit, Mr. Tadamori Oshima will pay a courtesy call on President Kh.Battulga and meet with Parliament Speaker M.Enkhbold and Prime Minister J.Erdenebat to discuss close cooperation of the Parliaments on developing bilateral, multilateral and regional Strategic Partnership.

Furthermore, Mr. Tadamori Oshima is planning to visit the new international airport in Khushig Valley, which was built within the framework of the Official Development Assistance of Japan.

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Copper price jumps on gangbusters China growth www.mining.com

Copper futures trading on the Comex market in New York jumped on Monday on renewed optimism about economic strength in top commodity consumer China.

Copper for delivery in September jumped to a high of 2.7375 a pound (just over $6,000 a tonne) in lunchtime trade, up 1.7% on the day to the highest level since end-March. LME copper's 2017 year to date gains in percentage terms are now within shouting distance of 10%.

The economy of China, responsible for nearly half the world's consumption of copper, expanded at an annual rate of 6.9% in the second quarter against expectations of a slight decline and at a quicker pace than Beijing's own target of 6.5% growth for 2017.

In seasonally-adjusted quarter on quarter terms, growth was even more significant, picking up from 1.3% to 1.7%. If the trend continues, this year would be the first time since 2010 that the Chinese economy grew faster than the year before.

Industrial production data for June released today also pointed to a significant improvement. Growth in industrial output picked up from 6.5% year on year to 7.6% led by greater electricity and steel production. Bloomberg consensus forecasts pointed to no acceleration for Chinese industrial output.

Despite Beijing's tightening of lending and other measures to cool the property market, construction starts surged by more than 14% in June, providing further support for commodity-intensive sectors which continue to expand at a faster rate than the broader measure of industrial production.

The copper price is seen as a bellwether for metals markets and industry as a whole thanks to its widespread use in construction, the power sector, manufacturing and transportation.

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Property and income of President, Prime Minister and Deputy Speaker of Parliament www.gogo.mn

According to the Law on Anti-Corruption, high level of state officials must submit their declarations of their property and income to the Anti-Corruption Agency within 30 days of appointment. 
This year a total of 242 state servants have measured to fill the property and income declaration of 2016. As of Jul 18th, Anit-Corruption Agency posted declarations of 239 state officials on their website. 
The newly elected president of Mongolia Kh.Battulga`s property and income totaled USD 467,380 (1 billion 124 million tugrik) in 2016. Note that it does not include the cost of the president's Lexus 570.
Details were as follows:
Annual income - USD 54,097 (130 million tugrik)
Annual income of his family members - USD 12,898 (31 million tugrik) 
Housing and apartment - USD 379,452 (912 million tugrik)
Livestock - 1 herd of horses worth USD 4,992 (12 million tugrik)
Savings - USD 1,663 (4 million tugrik)
Snuff bottle - USD 14,557 (35 million tugrik)
Moreover, President Kh.Battulga is a shareholder of more than 20 companies including Genco Tour Bureau, Makh Impex, Talkh Chiher and Bayangol Hotel.

Meanwhile, property and income of Prime Minister J.Erdenebat and his family were USD 675,655 (1 billion 622 million) in 2016. 
Details were as follows:
Annual income - USD 80,709 (194 million tugrik)
Annual income of his family members - USD 78,628 (189 million tugrik) 
Housing and apartment - USD 58,641 (141 million tugrik)
Transportation - USD 128,512 (309 million tugrik)
Livestock - USD 67,375 (162 million tugrik)
Savings - USD 30,768 (74 million tugrik)
Jewelry - USD 29,521 (71 million tugrik)
Prime Minister J.Erdenebat took a loan worth USD 33,256 (80 million tugrik) from non-bank financial institutions. 
In addition, he is a shareholder of five companies and his total stock value is USD 233,629 (562 million tugrik).

In 2016, a total income and property of Deputy Head of State Great Khural or the Deputy Speaker of Parliament Ts.Nyamdorj was USD 151,407 (364 million tugrik). 
Details were as follows:
Annual income - USD 71,108 (171 million tugrik)
Annual income of his family members - USD 2,661 (6.4 million tugrik) 
Housing and apartment - USD 62,375 (150 million tugrik)
Transportation - USD 10,393 (25 million tugrik)
Savings - USD 1,912 (4.6 million tugrik)
Jewelry - USD 2,910 (7 million tugrik)
Ts.Nyamdaorj has 214 owns 214 stocks of Erdenes Tavan Tolgoi JSC and he reported that he has no debt.

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The Investment Outlook of Mongolia in 2H 2017 www.frontier.mn

As we have pointed out last week, we are more optimistic about the future in a long run. However, investors are cautioned that the roads ahead are still bumpy. Below are the several check lists that investor should be aware of in the next few months.

Please review the full version at www.frontier.mn

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Erdene Provides Exploration Update on Southwest Mongolia Gold Exploration; Continues to Expand Western Gold Zone at Bayan Khundii www.morningstar.com

Erdene Resource Development Corp. (TSX:ERD) (" Erdene " or "Company") is pleased to provide additional assay results from the Company's 2017 drill program at its 100% owned Bayan Khundii Gold Project ("Bayan Khundii") in southwest Mongolia.

"We are now at the mid-point of the initial 2017 drill campaign in the Bayan Khundii region and thus far have defined several new areas that will require definition drilling, particularly west and east of Striker, the Northeast Zone, and importantly north and west of Midfield. It is very encouraging to continue to intersect broad zones of gold mineralization along the margins of the established 1.3 kilometre by 500 metre mineralized trend," said Peter Akerley, Erdene's President and CEO. "As we continue to expand outward from that area in Q3 we will be testing six new target areas up to 1 kilometre from the original discovery at Striker Zone. In addition, as drilling progresses through Q3, we will move into the untested 3.5 kilometre long gold-in-soil anomaly that continues north to Altan Arrow, and ultimately return to drilling at our Altan Nar project, 16 kilometres to the northwest."

Highlights

Success from step-out drilling and geophysical surveys leads to an expanded target area at Bayan Khundii
Drilling west of the Striker and Midfield zones returns multiple, high-grade, 1-metre intervals between 10 g/t and 22 g/t gold
Drilling up to 150 metres west of the Striker Zone returns multiple gold mineralized intersections over a 250-metre by 200-metre area, including 28 metres of 1.4 g/t gold (BKD-172)
Drilling west of Midfield Zone returns 36 metres of 1.1 g/t gold (BKD-166)
Upcoming Q3 drilling of five untested targets and continued definition of new targets north and east of the Midfield and Striker zones with closer-spaced drilling
Regional structural analysis and detailed structural analysis of Bayan Khundii and Altan Nar projects will be undertaken during Q3
Drill results to continue throughout Q3

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Wildfires under control, says NEMA www.montsame.mn

Ulaanbaatar /MONTSAME/ Backfires have been lit successfully against 7 wildfires, reported National Emergency Management Agency.

As of Monday, 21 wildfires are burning nationwide - 8 in Selenge aimag, 10 in Tuv aimag, 2 in Bulgan aimag and 1 in Uvs aimag, in response to which 1342 persons and 109 vehicles have been deployed.

During a press conference on July 17, G.Ariunbuyan, Deputy Chief of the National Emergency Management Agency informed that the agency had all the wildfires burning in these aimags under control. He also expressed gratitude for donations of individuals and organizations during the wildfire suppression efforts.

The agency’s authority also disclosed the amount of donations gathered as of 12 pm, July 17. The agency’s designated bank account for donation has garnered a total amount of MNT 229.8 million, MNT 32.5 million from 84 citizens and MNT 197.3 million from 34 public and private organizations. Goods and food supply are continually arriving, they said.

The agency also informed that the Russian Ministry of Emergency Situations had consented to render aid of helicopters. According to Col. S.Zaluukhuu, Head of Fire Department of the National Emergency Management Agency, the helicopter aid has been postponed due to weather forecast of rain in the near future.
Kh.Aminaa

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GDP data show continued expansion www.chinadaily.com

China's economy expanded at a faster-than-expected 6.9 percent year-on-year in the second quarter and economists said the trend of stable growth is set to continue into the second half of 2017, paving the way for the country to strengthen reforms.

The economy, as measured by the gross domestic product, was unchanged from the first quarter and has remained in the 6.7 to 6.9 percent range for eight consecutive months, according to data released on Monday by the National Bureau of Statistics. GDP growth accelerated to 1.7 percent in the second quarter, up from 1.3 percent in the first quarter.
Key indicators, such as industrial output, retail sales and fixed-asset investment, all were at high levels in the second quarter, the NBS said. Real estate investment, a key driving force of growth, increased by 8.5 percent in the first half of this year, slightly down from the first quarter. "Real estate investment, together with infrastructure investment, remained brisk and contributed to the strong growth in the second quarter," said Yu Yongding, an economist with the Chinese Academy of Social Sciences.

The economic structure also has improved, according to NBS data. For example, investment in high-tech manufacturing industries grew by 21.5 percent year-on-year in the first half of this year, 12.9 percentage points higher than overall investment growth.

The crucial job market, meanwhile, remained stable, with 7.35 million jobs created in urban areas in the first half of this year, 180,000 more than a year earlier, according to the NBS.

Looking ahead, China’s economic growth may ease moderately, mainly due to slowing growth expected in real estate investment thanks to the country's tightening of price control policies, but it faces much less pressure to grow, analysts said.

"The economy may continue to fluctuate a little bit, but there would not be sharp declines, and China does not face any risk of a hard landing," said Yu of CASS, who also is former member of the monetary policy committee of the People’s Bank of China, the central bank.

China's whole-year growth this year may reach 6.7 percent, meaning it will meet its target of "around 6.5 percent", according to forecasts by some institutions, such as the China Center for International Economic Exchanges and investment bank ICBC International.

"China's pressure from growth stabilization has eased greatly and it will pay way for its macroeconomic maneuvers to upgrade its economic structure and contain risks," said Cheng Shi, chief economist at ICBC International.

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Japan offers $1 bil. to help UN achieve SDGs www.nhk.or.jp

Foreign Minister Fumio Kishida says Japan will contribute 1 billion dollars by 2018 to combat poverty and hunger in the world.

Kishida delivered a speech at a UN forum to discuss Sustainable Development Goals on Monday.

He said that Japan's vision for sustainable development goals is to create a diverse and inclusive society in which no one is left behind.

Kishida also said that Japan will take concrete actions, both at home and abroad, by combining the wisdom of various stake holders, including civil society, private enterprise and government.

He explained how Japan is working with 7 UN organizations in Syria to rebuild schools and help educate those who have been internally displaced.

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