1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20     СЗХ-НД МӨНГӨ УГААХТАЙ ТЭМЦЭХ НЭГЖИЙГ БАЙГУУЛАХААР БОЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/20     БНХАУ: ОЛОН ТАЛТ, ЧӨЛӨӨТ ХУДАЛДААГ ДЭМЖИЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/20    

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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Mongolia Exports Forecast 2016-2020 www.tradingeconomics.com

Exports in Mongolia is expected to be 507.85 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Mongolia to stand at 508.94 in 12 months time. In the long-term, the Mongolia Exports is projected to trend around 508.89 USD Million in 2020, according to our econometric models.

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China's Great Wall eyes Fiat Chrysler bid www.bbc.com

China's Great Wall Motor is sizing up Fiat Chrysler, the Italian-American carmaker that also owns Jeep.
A Great Wall official told Reuters it had "an intention to acquire" some or all of the world's seventh-largest car maker.
However, Fiat Chrysler said it was yet to receive an approach from Great Wall - China's biggest SUV maker.
Earlier reports said the Chinese firm had asked to meet Fiat executives to discuss buying the Jeep brand.
Jeep, which celebrated its 75th birthday last year, is considered FCA's most valuable asset.
Its reputation dates back to World War Two, when Jeeps were used extensively by the US military.

Shares in Fiat Chrysler Automobiles jumped 7.4% in New York on Monday and have jumped more than a quarter this year, valuing the company at just over $19bn (£14.7bn).
However, the Jeep brand alone could be worth as much as $27bn, according to Morgan Stanley analysts.
Analysis: Andrew Walker, economics correspondent
Are the alarm bells ringing in the White House? Possibly. Certainly President Trump has expressed concerns about China's international economic role.
His former chief strategist, Steve Bannon, last week said the US is in an economic war with China. He is no longer at the President's side, but his influence may well persist. There are others in the administration who share the same concerns about China, including the top trade negotiator Robert Lighthizer.
Great Wall's takeover of Fiat Chrysler - if it ever happens - might not have any immediate impact on jobs, as the Chinese company could decide to keep manufacturing in the US.
It probably wants Jeep's technology and engineering, which is striking given that Mr Trump has ordered an investigation into allegations of China's theft of US intellectual property. There is the potential for the takeover talk to add to the friction.
Jeep sold 1.4 million vehicles last year and aims to shift 2 million vehicles annually by 2018.
Great Wall sold just over 1 million vehicles last year - mostly in China, which is now the world's largest car market.
Bill Russo, a former Chrysler executive now with Gao Feng Advisory Group, said he believed Great Wall wanted Jeep rather than all of FCA and its debts of about $4.9bn.
"Jeep is the crown jewel of Fiat Chrysler in terms of brand and equity," he said.
Great Wall is known for its SUVs, vehicles, which are popular in China, so a deal would be "quite complementary", Mr Russo added.

Yale Zhang, head of Shanghai-based consultancy Automotive Foresight, said: "Jeep is the most logical choice, since [Great Wall] wants to be the largest SUV maker in the world.
"The Jeep brand is recognised globally. I think Great Wall Motor is eyeing a global strategy, not just the United States."
What is Great Wall Motor?
Founded 1984, it is China's largest SUV and pick-up truck maker
Great Wall is vying with Geely to become the first Chinese carmaker to go global
A bid could prove unpopular with US President Donald Trump, who is investigating Chinese trade practices and wants to protect US car manufacturing jobs
Fiat Chrysler already makes some Jeep models in China, with local partner Guangzhou Automobile Group
Fiat Chrysler could be too big a bite for Great Wall, which is worth about $16bn, although it does have state investors
Great Wall's boss, Wang Fengying, is the seventh most powerful woman in the Asia-Pacific according to a Fortune magazine list
Earlier this year, it officially launched a new premium SUV brand called Wei, which potentially could tap into the US market.
Fiat Chrysler chief executive Sergio Marchionne is seeking a partner or buyer to help it manage rising costs, emissions regulations and the development of electric and self-driving cars.
FCA also owns Alfa Romeo, Maserati and RAM trucks.

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BHP exiting oil and gas www.mining.com

World number one mining company BHP posted a fourfold rise in underlying profits on Tuesday in Australia of $6.7 billion. Free cash flow also surged, coming in at $12.6 billion.

ADRs of the Melbourne-based giant was unchanged in after hours following a 1.3% gain during regular trading. The stock (NYSE:BHP) is up 14.3% in value this year for a market capitalization of over $102 billion.

But even those stellar numbers were below analysts' forecasts, as was the company's full year dividend of US$0.83 cents per share, equivalent to a 66% payout ratio after its final payout was tripled to $0.43c.

Net debt was reduced by 37% or nearly $10 billion to $16.3 billion. The company said it expects to allocate less than $8 billion per year over the next three years on capital and exploration expenditure.

BHP has come under pressure this year from shareholders led by Elliot Management to get out of its underperforming US oil and gas business it acquired six years ago for more than $20 billion, but which could fetch only around half that today.

In its results presentation BHP said it now considers onshore oil and gas in the US "non-core" assets and is "actively pursuing options to exit" the business including through a trade sale, an asset swap, demerger or a separate listing.

The company is working its assets hard and cut costs across its operations during the year by $1.3 billion. Over the last five years savings of more than $12 billion was achieved according to the company and it expects to deliver a further $2 billion by the end of the 2019 financial year with "gains weighted to the second year."

Thanks to rising prices and record volumes, iron ore now makes up 44% of the company's earnings (EBITDA), coal and petroleum each make up a fifth and copper the remainder.

BHP managed to cut costs at its iron ore division in Western Australia and elsewhere by 3% to just $14.60 a tonne compared to today's price of $78 a tonne. The company said by the end of 2019 it plans to push costs below $13 a tonne.

Copper performance was impacted by a 43-strike at its 57% owned Escondida copper mine in Chile during February and March which upped costs 7% to $1.28 a pound. Copper was trading at $3.00 a pound in New York on Monday.

Last week BHP greenlighted the long-awaited $2.5 billion expansion of its Spence copper mine in Chile, which will add another 50 years to the operation’s life.

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Big Ben bongs for final time as restoration plan begins www.cnn.com

(CNN)After the twelve loud chimes at midday Monday, London's iconic Big Ben, the bell that marks time in the clock over the Houses of Parliament, fell quiet.

The bongs have been silenced as part of a controversial renovation plan of Elizabeth Tower, which houses the clock. Authorities in the House of Commons said it would not be safe for contractors to work so close to a loud bell.
It will be the longest break since the bells of Big Ben were installed in 1859.
The silence will be broken on special occasions -- the bells will still ring on December 31 each year to herald the New Year.
UK lawmakers and their staff gathered to listen as the Great Bell -- the official name for Big Ben -- struck noon, clapping after the last chime.
After pressure from some traditionalist MPs, and Prime Minister Theresa May, parliamentary authorities last week said they would review the plan.

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Domestic production to be developed in localities www.montsame.mn

Ulaanbaatar /MONTSAME/ J.Bat-Erdene, a member of parliament, handed over to J.Erdenebat PM a letter of proposal on developing small-and middle-sized enterprise (SME).

Mentioning about his working tour to localities in accordance with an initiative on the SME development, J.Bat-Erdene MP pointed out that many people in aimags are waiting for developing domestic production and such programs.

“Domestic production could be boosted in localities. In believe when families are capable and people are rich, the country develops rapidly. The Mongolian People’s Party reflects in its election program an implementation of the ’21:100’ program,” said J.Bat-Erdene MP, and then asked the Premier to pay attention to this matter.

In response, the Prime Minister said the government is taking a certain measure for developing production in localities in scope of the “21:100” program. He underlined the importance of the MP’s proposal and role in realizing the plan.

“This program will augment job places and make people employed and paid. Our government is focusing attention to boosting small- and middle-sized production,” the Premier said.

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Mongolia-South Korea joint research group meets www.akipress.com

AKIPRESS.COM - The Mongolia-South Korea joint research group on studying the possibilities of establishing an economic partnership agreement held its 3rd meeting Friday in Ulaanbaatar, Montsame reported.

The parties discussed a process of research for the EPA establishment at their the meeting which was co-chaired by V.Enkhbold, director of the Foreign Ministry Department of Foreign Trade and Economic Cooperation; and Lee Jae-Young, the vice-president of the Korea Institute for International Economic Policy (KIEP).

Following the meeting, D.Davaasuren, the State Secretary of the Foreign Ministry, received the researchers, and exchanged views with them on the course of research and pending outcome.

The joint group’s next meeting is expected to be held on September 21 in Seoul, South Korea.

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Sempra beats Buffett in $18.8bn Oncor deal www.ft.com

Sempra Energy has agreed to buy Energy Future Holdings, the parent company of Texas utility group Oncor, in a deal worth $18.8bn.

Sempra will pay approximately $9.45 billion in cash to acquire EFH and and its ownership in Oncor, and will assume Oncor’s debt. The deal marks a surprise turnround after Warren Buffett’s Berkshire Hathaway looked to buy the group in an an $18bn pact. The FT reported early on Monday that Sempra was set to clinch the deal.

Sempra said it would fund the deal using a mixture of debt, equity, and $3bn of investment grade debt at the reorganised holding company, and it expects Oncor’s “underlying financial strength and credit ratings” to improve after the deal.

At the completion of the transaction, Bob Shapard, Oncor’s chief executive, will become executive chairman of the Oncor board of directors and Allen Nye, currently Oncor’s general counsel, will succeed Mr Shapard as Oncor’s CEO.

The deal is expected to close in the first half of 2018, and should be accretive to earnings from next year.

“Both Sempra Energy and Oncor share more than 100 years of experience operating utilities that deliver safe, reliable energy to millions of customers,” said Debra Reed, chairman and chief executive of Sempra Energy. “With its strong management team and long, distinguished history as Texas’ leading electric provider, Oncor is an excellent strategic fit for our portfolio of utility and energy infrastructure businesses.”

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FM Ts.Munkh-Orgil to visit Israel www.montsame.mn

Ulaanbaatar /MONTSAME/ Foreign Minister Ts.Munkh-Orgil is planning a working visit to the Russian Federation and Israel.

Furthermore, the Foreign Minister will be attending Forum for East Asia-Latin America Cooperation (FEALAC) which is expected to take place in Busan, Republic of Korea between August 30 and September 1.

The Ministry of Foreign Affairs informed to be preparing for the 72nd session of the UN General Assembly, which will be taking place in the United States on September 19-24.

Accordingly, Foreign Minister Ts.Munkh-Orgil is planning to organize the first forum between Mongolia and Eurasian Economic Union member countries within the frameworks of the policy on increasing foreign trade and investment. As well as a meeting of research team for establishing Free Trade Agreement between Mongolia and the Republic of Korea and trilateral analysts’ meeting between Mongolia, PRC and Russian Federation on the “Economic Corridor Program”.

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Consultant to conduct diagnostic study has been selected www.mongolbank.mn

The Bank of Mongolia, in scope of Extended Fund Facility program of the IMF has finalized procurement process on selection of a consultant for diagnostic study on commercial banks in Mongolia. Submitted proposals have been evaluated on the basis of pre-defined criteria established under the Quality-based selection procedure in accordance with the relevant laws of Mongolia on procurement process.
As a result of the evaluation, PricewaterhouseCoopers Česká republika has been selected to conduct the diagnostic study. The selected consultant is expected to complete the diagnostic study by the end of November, 2017.
For more information on selected consultant, please refer to https://www.pwc.com/cz/en.html.

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"Talkh Chikher" JSC discloses 2017 semi-annual operational and financial report www.montsame.mn

Ulaanbaatar /MONTSAME/ “Talkh Chikher” JSC, a Tier 1 listed company, presented its semi-annual financial and operational report to the public on August 17th, 2017 at Mongolian Stock Exchange. 

"Talkh Chikher" JSC is one of the leading manufacturers of food industry in Mongolia, produces bread, pastries, candies, and biscuits in Mongolia. It has been operating for 33 years and offers variety of products including 20 different types of bread, 30 types of pastries, 10 types of sweet and solid cookies, 2 types of soft candy, marmalade and 10 sorts of chocolate assortments.

Within the framework of introducing world class technology advancements to its manufacturing process, the Company achieved the ISO9001 Quality Management Certificate, ISO17025 Laboratory Accreditation and ISO22000 Food Safety Certificate. It has introduced the J4 multi-line type liners of production, which is the only one operating in Mongolia, as well as Italian flour system and silos to its manufacturing process. 

The Company's net profit rose by 1.4% to MNT 675.7 million from a year earlier.

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