1 VALE EVACUATES 200 PEOPLE FROM TOWN NEAR ITS MAR AZUL MINE WWW.MINING.COM PUBLISHED:2019/02/17      2 TOOTH PLAQUE SHOWS DRINKING MILK GOES BACK 3,000 YEARS IN MONGOLIA WWW.SCIENCENEWS.ORG  PUBLISHED:2019/02/17      3 INCREASING NUMBER OF CHINA-EUROPE FREIGHT TRAINS SUPPORTS MONGOLIA'S ECONOMY: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/17      4 TAX REVENUE INCREASES BY 33.7 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/02/17      5 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      6 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      7 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      8 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      9 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      10 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Taiwan legislation votes to abolish Mongolian and Tibetan Affairs Comm. www.thetibetpost.com

Dharamshala — According to reports from Taiwan, the Legislative Yuan voted to pass a resolution today, November 28, abolishing the Mongolian and Tibetan Affairs Commission (MTAC).

The Mongolian and Tibetan Affairs Commission was established 17 years ago. The Commission has been responsibility for providing guidance and care for Mongolian and Tibetan people in Taiwan, preserving Mongolian and Tibetan culture, cultivating talents, studying Mongolian and Tibetan culture, and participating in humanitarian aid, economic trade, academics, cultural and medical exchanges with overseas Mongolian and Tibetan communities.

According to the Mongolian and Tibetan Society official website, on July 11, the Executive Yuan announced that MTAC will be dissolved, transferring many responsibilities to the Mainland Affairs Council's (MAC) Department of Hong Kong and Macao Affairs, which will take the new name of the Department of Hong Kong, Macao, Mongolia and Tibet.

Shi Nengjie, chief executive of the Executive Yuan said, "After the withdrawal of the MTAC, various efforts will be conducted for the preservation of Mongolian and Tibetan culture, a responsibility that will be transferred to the Ministry of Culture. Messages from Mongolians and Tibetans in Taiwan will be collected and analysis will be moved to the Mainland Affairs Council... The posts will be shifted to the MAC and the MOFCOM respectively. An additional Mongolian-Tibetan cultural center will be set up in the Ministry of Culture.

Li Junlian, a Democratic Progressive Party legislator, said, "Mongolia and Tibet will be abolished as Taiwan's relations with Mongolia and Tibet change with time and space."

Taiwan’s ruling Democratic Progressive Party (DPP) was reported to have argued that it was “no longer necessary” to have a commission to deal with matters relating to Mongolians and Tibetans since Mongolia was now an independent country while Tibet was seeking to gain similar status.

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Mongolia - Telecoms, Mobile and Broadband - Statistics and Analyses www.hawaiinewsnow.com

The growing popularity of mobile broadband has underpinned overall broadband and telecoms growth. This trend is consolidating Mongolia's position as a mobile first telecoms market and shaping the future direction of Mongolia's developing digital economy. 

The penetration of fixed lines in Mongolia has increased strongly over the past five years as a higher proportion of residences decide to take a fixed line access option. Penetration is however predicted to only increase slightly over the next five years to 2022. There is a continued migration from fixed-line services to mobile operators that have a much higher availability in the rural areas and access to applications and services in the urban areas. 

Fixed broadband penetration in Uzbekistan remains low mainly due to a limited number of fixed lines and the dominance of the mobile platform. However the market has grown very strongly over the past five years from a very small base. Over the next five years to 2022 moderate growth is expected to continue. A major driver of broadband growth among the general population will be affordable access to relevant content. 

Mongolia's mobile market has experienced relatively slow growth over the past five years in a relatively mature market. High mobile penetration levels in Mongolia are also indicative of healthy competition. Slow to moderate growth is predicted over the next five years to 2022. The market will be constrained from higher growth due to strong local competition and a further maturing market. 
Mobile broadband has become an increasingly attractive proposition due to the increasingly faster speeds offered coupled with improving tariffs due to strong competition among the four mobile network operators. Mobile broadband subscriptions grew rapidly commencing in 2012, with this growth attributed to the increasing popularity of 3G mobile broadband products. 

The launch of 4G LTE services by all the major operators in 2017 will see the uptake of mobile broadband customers continue to grow strongly over the next five years to 2022. 
In April 2017 the Mongol Sat-1 platform was launched in partnership with Asia Broadcast Satellite (ABS). It is Mongolia's first satellite to support domestic telecoms, broadband and television services including TV, internet, radio, e-services and government links. The satellite will help to reach users in isolated rural areas of the country.

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Mongolians closely watching sumo scandal www3.nhk.or.jp

People in Mongolia are closely following the news about 2 sumo wrestlers from the country who are at the center of a scandal in Japan.

Yokozuna Grand Champion Harumafuji has admitted to assaulting lower-ranked Takanoiwa in a lounge bar.

A Mongolian newspaper, the Daily News, reported that when an advisory body to the Japan Sumo Association met on Monday, many members called for Harumafuji to be severely punished. The paper said both wrestlers would face tough measures.

The News MN website reported that the advisory body may urge Harumafuji to retire or suspend him from tournaments for a long time.

A man in Mongolia's capital, Ulaanbaatar, said Harumafuji beat Takanoiwa because the lower-ranked wrestler did not respect his senior.

Another man said he wants the yokozuna to continue his sumo career in Japan, and he hopes that a positive solution can be found to settle the case.

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November 28, 2017 trading report www.mse.mn

On November 28, 2017, 907,739 shares of 30 firms listed as Tier I, II, and III were traded. 12 firms’ shares increased in price, 16 decreased and 2 remained unchanged. Erdenet Auto Zam JSC /EAZ/ was the top performer, increasing 15.00 percent, whereas Ulaansan JSC /UNS/ was the worst performer, decreasing 12.09 percent.

On the secondary market for government bonds, 130 bonds with a value of MNT12.6 million were traded.

The MSE ALL Index decreased by 0.47 percent to stand at 1,267.19 points. The MSE market cap stands at MNT 2,416,918,138,048.

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FRC halts trading for some listed companies www.mongolia.gogo.mn

In accordance with the official notification given on November 21, 2017 by the State Inspector of Financial Regulatory Commission, Mongolian Stock Exchange will halt “APU” JSC, “Jinst-Uvs” JSC, “Nogoon Khugjil Undesnii Negdel” JSC and “Davaanbulag” JSC’s trading starting from November 22, 2017 due to the application of listing amendment.

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Doing business 2018: Mongolia ranked 62nd www.mongolia.gogo.mn

World Bank group introduced The Doing Business report every year.

This project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.
The Doing Business project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle.
By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time, Doing Business encourages economies to compete towards more efficient regulation; offers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business climate of each economy.

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SoftBank offers to buy Uber shares at 30 percent discount www.reuters.com

SAN FRANCISCO (Reuters) - Japan’s SoftBank Group Corp is offering to purchase shares of Uber Technologies Inc at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter said on Monday.

The investment, which was approved by the Uber board in October, would also trigger a string of governance changes at Uber that would limit some early shareholders’ voting power, expand the board from 11 to 17 directors and cut the influence of former Chief Executive Travis Kalanick.

The investment and board moves are supported by new Chief Executive Dara Khosrowshahi and come at the end of a year of scandals and change for Uber, including the announcement last week that executives covered up a major hack in 2016.

The consortium of investors led by SoftBank and Dragoneer Investment Group plan to take a stake of at least 14 percent in the ride-services company. The tender offer will launch on Tuesday, sources told Reuters, and investors have nearly a month to respond.

The SoftBank-led investor group will acquire two of the new board seats, with the remaining four going to independent directors.

Nearly all secondary transactions, when a new investor purchases from existing shareholders, come at a discount to the company’s valuation.

However, the 30 percent discount is steep given Uber’s plan to launch an initial public offering in 2019, said Phil Haslett, co-founder and head of investments at secondary marketplace EquityZen. Usually valuation cuts of this size happen when a company is at risk of being sold at a heavy discount, which Uber is not.

“It really comes down to a re-pricing of Uber’s value,” Haslett said.

Since it was valued at $68.5 billion more than a year ago, the company has been hit by scandals, including accusations of sexual harassment. It has also weathered federal criminal probes into software Uber used to deceive regulators and allegations of paying bribes to authorities in Asia, and a lawsuit by Alphabet Inc’s self-driving unit Waymo, accusing Uber of stealing trade secrets.

Most recently, Uber revealed that the data of 57 million Uber customers and 600,000 drivers had been stolen in a breach more than a year ago, and that the company had paid two hackers $100,000 to cover it up. Since then, governments across the globe have launched investigations into the incident. The scandal raised questions about whether SoftBank would try to renegotiate the deal for better terms.

But Uber said on Friday it had informed SoftBank about the data breach prior to informing the public. However, “our information at the time was preliminary and incomplete,” a spokesman said.

A person familiar with the matter said SoftBank would have already factored any negative impact from the breach into its negotiations with Uber.

Bloomberg reported the offer price earlier on Monday.

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Profit of big Mongolian banks increases www.news.mn

The Economic Policy and Competitiveness Research Centre (EPCRC) has been analyzing the performance of Mongolia's banks. The research covered all but one of the country's banks. According to the report ‘Overview of Bank Competitiveness-III’, thirteen commercial banks accounted for a total of MNT 242 billion profit. Furthermore, the profit of Mongolian banks increased by MNT 105 billion on the previous year.

The profit of the country's three big banks has increased by 64 percent, the three medium sized banks by 67 percent; however, other small sized banks’ earnings have decreased by 26 percent. The savings of the thirteen commercial banks was MNT 15.2 trillion.

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The foreign exchange reserves of Mongolia has exceeded USD 2.0 billion www.mongolia.gogo.mn

Over the last year, Mongolia’s foreign exchange reserves have been steadily increasing. The following factors played the key role in the increase of the foreign exchange reserves:

Due to the increase in the price of the main exporting commodities such as copper and coal, the export volume has increased to USD 4,313.1 million in September 2017 which is an increase of 32 percent from the same period of last year (YoY). As a result, the total foreign trade balance has improved, trade surplus reached to USD 201.9 million.
Since the approval of the “Extended Fund Facility” arrangement by the IMF, foreign investor’s confidence in Mongolia has dramatically increased and pressure on the economy alleviated. The first disbursement of the approved USD 5.5 billion IMF-led package has been credited.
The Government of Mongolia has successfully issued USD 800 million Eurobond with the maturity of 5.5 years and the coupon rate of 5.625 percent. With the proceeds the foreign exchange reserves of Mongolia has exceeded USD 2.0 billion in November 2, 2017.
The gold purchase of the Bank of Mongolia has reached to 16.8 tons by October 24th and which is an increase of 8 percent from the same period of last year (YoY).
The bilateral swap arrangement between the Bank of Mongolia and the People’s Bank of China has been extended for the further period of 3 years.

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Financial regulatory commission approves dual listing regulation www.mse.mn

The revised Securities Markets Law (2013) served as a gateway to new opportunities for the Mongolian capital markets. One such opportunity was the possibility of dual listing, which would enable foreign public companies to be listed on the Mongolia Stock Exchange (MSE) and domestic companies to be listed on foreign exchanges.

Although the legal framework for dual-listing was established in 2013, companies operating in Mongolia but listed on foreign stock exchanges were not able to list their shares on the MSE due to the absence of a dual-listing regulation.

Therefore, the MSE and the Financial Regulatory Commission (FRC) formed a working group to develop the “Provisional Regulation on Registering the Shares of Foreign-Listed Companies and the Shares of Domestic Listed Companies Dual-listing Overseas”, which was approved by the FRC Meeting on November 24, 2017.

Companies looking for a secondary listing are usually incorporated overseas and have their primary listing on their home exchange. Due to the fact that they follow their home laws and regulations, the secondary exchange normally provides initial and ongoing exemptions as per common international practice. Therefore, the highlight of this regulation is the enabling of the foreign-listed issuers that are being dual-listed in Mongolia to follow the laws and rules of their home exchange and for their reporting purposes, professional opinion such as those by international audit and legal firms are to be equally accepted as if they are provided by domestic professional companies. 

Accordingly, the most important requirement for foreign-listed companies looking to be dual-listed on the MSE is to have their primary listing on one of the 26 stock exchanges approved by the FRC. Given the company satisfies this requirement, the remaining procedures are designed to be simple and straightforward.

The approval of this regulation is a significant development milestone for Mongolian capital markets in that it will enable approximately 30 foreign-listed mining companies operating in Mongolia to be listed on the MSE, giving the Mongolian public the opportunity to share the rewards and risks of their businesses.

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