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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Foreign minister Ts. Munkh-Orgil receives ambassador of Canada Ed Jager www.montsame.mn

Ulaanbaatar /MONTSAME/ On July 4, Ts.Munkh-Orgil, Minister for Foreign Affairs of Mongolia received Ed Jager, Ambassador of Canada to Mongolia upon finishing his tenure in Mongolia.

Foreign Minister Ts.Munkh-Orgil appreciated returning Ambassador Ed Jager for his valuable contributions to the development of bilateral relations between Mongolia and Canada during his tenure in Mongolia and expressed his gratitude for continuously intensifying relations and cooperation. Moreover, mentioning that Mongolia and Canada have broad potential to cooperate in the agricultural field, FM expressed his confidence that Canadian Ambassador will keep supporting to develop bilateral ties and wished success for the Ambassador in his future endeavours.

In turn, Ambassador Ed Jager noted his thankfulness for the growing and strengthening relations and cooperation between Mongolia and Canada. Also, he expressed his willingness to develop Mongolia-Canada cooperation and support each other within the frames of international organizations.

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Tourist arrivals increase by 20 percent www.news.mn

Tourism is becoming increasingly important for the Mongolian economy. In the first four months of 2017, tourist arrivals increased by 20 percent compared to the same period last year. According to the Ulaanbaatar Tourism Department, tourism revenue amounted to USD 312 million in 2016. Mongolia is expecting to receive 470-480 thousand tourists this year; most of them will arrive during the traditional Naadam festival this July.

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GCF supports Mongolian energy sector www.news.mn

The Green Climate Fund is helping Mongolian enterprises kick start a national, low-carbon energy sector with its completion of a USD 20 million funds transfer to a Mongolian bank.

The bulk of GCF’s contribution, USD 19.5 million, will allow Mongolia’s XacBank">Mongolia’s XacBank extend loans to micro, small and medium-sized enterprises to break down financial barriers to low-carbon investment.

An aversion to the risks of opening new markets means Mongolian entrepreneurs currently lack the necessary commercial finance to carve out new businesses in energy efficiency and renewable energy.

This five-year project is being implemented by XacBank, one of Mongolia’s major lenders which became the country’s first and only bank specializing in eco-banking in 2009. At the end of last year, GCF designated XacBank as a direct access Accredited Entity, which propose and implement GCF-financed climate initiatives.

“This disbursement marks an important milestone in the continued development of sustainable financing business of XacBank and our cooperation with the Green Climate Fund,” said Amartuvshin Hanibal, President of XacBank.

While many Mongolian people currently burn low-quality coal in their homes for heating and cooking, the government is striving to leap frog their landlocked nation into adopting a low-carbon energy sector.

In accordance with GCF’s gender focus, at least half of GCF’s loan support in this project will go towards women-led enterprises.

“This project will empower women and reduce emissions,” said Adam, Director">Ayaan Adam, Director of GCF’s Private Sector Facility. “It will show women-led enterprises can make a strong impact in Mongolia’s private sector. Mongolian micro, small and medium-sized enterprises can demonstrate that low-carbon investment is the business of the future.”

Ms Adam added the growth of a low-carbon energy sector fits well with the Mongolian Government’s move to raise the percentage of renewables to 20 percent of national energy generation by 2020, according to the country’s Nationally Determined Contribution under the Paris Agreement. (green climate fund)

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Mongolia Begins Exporting Lamb Meat to Iran www.financialtribune.com

Two Mongolian meat companies, Eco Food Trading LLC and Darkhan Meat Foods LLC, have begun jointly exporting meat to Iran as part of an agreement to ship 4,000 tons of lamb meat. With around 61 million livestock, Mongolia has the potential to become a major provider of meat, the Mongolian newspaper UB Post reported. The agreement to supply 4,000 tons of lamb will require 250,000 sheep, according to experts. Economists have estimated that Mongolia has the capacity to export five million livestock or around 100,000 tons of meat every year. “Our factory has the capacity to sort and package 20 tons of meat. We are packaging the meat in accordance to the standards of Iran,” said the Director of Darkhan Meat Foods LLC M. Enkhbaatar. At the ceremony of the first shipment on June 29, Mongolian Minister of Food and Agriculture P. Sergelen highlighted the importance of the national agenda to improve livestock health.

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Citizens to own shares of Erdenet Mining Corporation www.montsame.mn

Ulaanbaatar /MONTSAME/ During its meeting on July 4, Tuesday, the Cabinet assigned corresponding Ministers and authorities to resolve the issue of taking the 49 percent of Erdenet Mining Corporation into government ownership.

Moreover, the Cabinet decided that every citizen will have ownership in the copper plant’s shares, and ordered corresponding Ministers to take required measures to realize the decision.

Head of Cabinet Secretariat J.Munkhbat said, “The objective reflected in the 2016-2020 action plan of the Cabinet regarding distribution of shares of strategic deposits to the Mongolian people is officially being realized”.

He continued, “Although Parliament issued a Resolution No. 23 on taking full ownership of Erdenet Mining Corporation, the owner of the 49 percent filed a lawsuit. A court decision was made in disfavor of the government decision. Parliament Speaker M.Enkhbold instructed the Cabinet to carry out the Parliament resolution No. 23. As such, we solved the issue with the decision to distribute shares of Erdenet Mining Corporation to every citizen”.

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Zamiin-Uud logistics center to transit 6 million tons of freight transport annually www.montsame.mn

Ulaanbaatar /MONTSAME/ In order to observe the construction process of logistics center in Zamiin-Uud station, related officials led by Minister of Road and Transport Development D.Ganbat visited the construction site during their working visit in the region.

Last year, an opportunity for transiting Asia-Europe route freight transports through Mongolian border was enabled after the trilateral meeting between the heads of state of Mongolia, Russian Federation and People’s Republic of China. In order to prepare for transiting freight transports, the Government of Mongolia negotiated with the Asian Development Bank to finance the project. Therefore, “Regional Logistics Development Project” is being implemented in Zamiin-Uud to increase the capacity of logistics facility. The facility will have significant impact by increasing import, export and transit transports in Mongolia.

Furthermore, several necessary projects, such as a construction of overbridge above railways, auto road, water line, security fence, cable line, 10 kW sub-station, 110 kW high voltage sub-station and its extension of power transmission line have been built from the State Budget.

“China Railway 21st bureau” LLC is acting as the general contractor, while “Suson” LLC of the Republic of Korea, Mongolian “Geo Mapping” and “NBCC” LLCs are providing support as advisors. Presently, foundations for both narrow and wide gauge railroads, as well as crane sites have been finished. The contractor has informed that the project is currently 40 percent finished and presented the current issues to the Minister of Road and Transport Development.

Once the Logistics Facility starts operation, around 6 million tons of freight transports can be transited through Zamiin-Uud station annually. The construction work is expected to finish next year and start operation by 2019.

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Road and transport minister visits concrete sleeper factory in Khutul www.montsame.mn

Ulaanbaatar /MONTSAME/ A working group headed by D.Ganbat, Minister of Road and Transport Development got acquainted with the activities of Concrete Sleeper Factory of Ulaanbaatar Railway joint stock company’ in Khutul, Selenge aimag.

Founded in 1997, the concrete sleeper factory in Khutul has a capacity to manufacture 180 thousand concrete sleepers a year. The factory employs 150 workers in its 6 main units. Previously, the factory used to ,make “FZ” concrete sleeper with Chinese technology and now they have been manufacturing “APC” reinforced concrete sleeper with more advanced technologies from Russia since 2006. The factory has a plan to produce 150 thousand pieces of concrete sleepers this year and as of today, the factory has produced 50 thousand pieces.

Moreover, the authorities of the factory introduced about the present state of the factory, which manufactures 20 types of concrete structures, such as bridge structures, concrete base and road curb apart from concrete sleepers and provides them to the domestic market.

During his meeting with the authorities and over 150 employees of the Concrete Sleeper Factory, Minister D.Ganbat gave information about government activities and policy. In frames of the meeting, Minister D.Ganbat obliged the relevant authorities to study opportunities of the Concrete Sleeper Factory to manufacture concrete sleeper for narrow-gauge railway.

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Samsung plans $18.6 billion South Korea investment to widen chip lead www.reuters.com

 
Samsung Electronics Co Ltd (005930.KS) said on Tuesday it will invest at least $18.6 billion in South Korea to extend its lead in memory chips and next-generation smartphone displays, in a plan that promises to create almost half a million jobs.
 
The investment underscores Samsung's determination to widen its lead in memory chips, which are expected to propel Asia's third most-valuable company to record profit this year. It routinely invests more than $10 billion in chips annually, helping it stay ahead of competitors such as cross-town rival SK Hynix Inc (000660.KS) and Japan's Toshiba Corp (6502.T).
 
The announcement follows repeated calls from new South Korean President Moon Jae-in for big businesses to invest more domestically as part of a wider job-creation agenda. Samsung said its plan could open up to 440,000 roles by 2021.
 
The huge investment is also likely to alleviate shareholder fears of major decisions being delayed in the absence of Vice Chairman Jay Y. Lee. The leader of Samsung Group [SAGR.UL] is on trial charged with bribing former president Park Geun-hye for political favors.
 
"Samsung is being more aggressive in domestic investments because of the current (political) climate," said Park Ju-gun, head of corporate analysis firm CEO Score.
 
The firm also needs to show initiative domestically after announcing a $380 million plant in the United States, Park said.
 
SUPPLY SHORTAGE
 
Memory makers are widely expected to post record profits in 2017 as prices rise in response to demand for more features in smartphones and servers, as well as a persistent supply shortage which analysts and industry sources said is more acute for NAND chips due to increasing adoption of high-end storage products.
 
Samsung, SK Hynix and Toshiba have committed billions of dollars to boost NAND output in recent years, yet shortages are expected to persist at least through 2017 as new facilities will not make meaningful supply contributions until next year.
 
Under its latest spending plan, Samsung will put 14.4 trillion won into its new NAND factory in Pyeongtaek by 2021. It will invest 6 trillion won in a new semiconductor production line in Hwaseong, but did not elaborate on timing or product.
 
Some analysts said additional capacity across the industry could cause slight oversupply in early 2018, but that prices are unlikely to drop because demand is so strong.
 
"There's no chance of major oversupply issues, and I think Samsung is investing so much because it's convinced that won't happen," said Shinhan Investment analyst Choi Do-yeon.
 
CHIPS IN CHINA
 
Samsung also said it will add a production line to its NAND plant in Xi'an, China, though it has not yet set an investment amount or time frame.
 
Some South Korean companies in China have seen sales decline or have had to reduce operations since Beijing objected to Seoul's deployment of a U.S. anti-missile defense system in March. But components makers have not reported any problems, with Samsung still among China's biggest suppliers of chips and displays.
 
The firm accounted for 40.4 percent of global memory chip revenue in January-March, showed latest data from researcher TrendForce.
 
China is trying to develop its own memory chip producers but it is likely to take several years before they can compete with existing makers, analysts said.
 
Samsung on Tuesday also said Samsung Display plans to invest around 1 trillion won on a new organic light-emitting diode (OLED) display complex in South Korea.
 
The unit controls over 90 percent of the market for OLED smartphone screens, and is widely expected to add production lines to cope with demand from phone makers such as Apple Inc (AAPL.O).
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Prime Minister J.Erdenebat says recession has ended for Mongolia www.theubpost.mn

On June 30, Prime Minister J.Erdenebat made an address to Parliament during its regular session, reporting that the economic recession had ended and that the basis for further development has been laid.
 
The Prime Minister detailed how an economy that once had an annual GDP growth of 17 percent had been derailed, registering a 1.6 percent shrink in GDP in the third quarter of 2016.
 
“By the end of 2016, GDP growth had reached 1.2 percent and further surged to a surprising 4.2 percent growth in the first quarter of 2017. We were able to revive a failing economy in only three quarters,” said J.Erdenebat.
 
With the help of the IMF extended fund facility program, the foundation for economic growth has been set according to the Prime Minister J.Erdenebat. Although the statistics of economic growth are accurate, analysts question whether the unexpected growth is really attributed to the IMF program, as opposed to external forces such as coal prices.
 
Rising value-added production has been credited as the reason for the 4.2 percent GDP growth. Sales revenue from value-added production and service was at 122 billion MNT in the first three months of 2017. In comparison, the first quarter of 2016 saw a GDP growth of 3.2 percent.
 
The biggest contributors to growth were increases in production in agriculture, services, and construction. On the other hand, growth in the mining and manufacturing sectors had declined.
 
“Our government was able to stop the depreciation of the MNT and protect the purchasing power of citizens by increasing foreign exchange reserves, improving fiscal discipline, stabilizing the macro economy and restoring investor confidence,” he said.
 
Mongolia plans to cap the state debt at 60 percent of GDP by 2021 and even lower in the future, the Prime Minister added
 
Mongol Bank received an initial fund of 38.6 million USD from the IMF under an enhanced financing program as part of its extended fund facility on May 25, 2017.
 
After the implementation of the program, Mongolia will receive a soft loan of 434.3 million USD from the IMF to help stabilize the country’s economy and support its economic reforms, the government reports.
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Mongolian citizens living abroad vote today www.news.gogo.mn

The second round of polling of presidential election of Mongolia will be held on July 7th nationwide. Thus, the voting of Mongolian citizens living in abroad has started today.  

Nearly 140 thousand Mongolians are living in overseas. However, precisely 7209 of them were registered to vote in the presidential election 2017. 
The polling is taking place at 45 embassies and consulates operating in 32 countries including Russia, South Korea, China, Australia, United Kingdom, USA, Germany, and Kazakhstan. The votes will be counted on July 7th.

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