1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20    

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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EBRD provides US$ 50 million loan to Mongolia’s Khan Bank www.ebrd.com

The EBRD is providing Mongolia’s Khan Bank with a US$ 50 million (€45 million equivalent) credit line to support the competitiveness and resilience of the country’s economy.

The financing package for Khan Bank, one of the leading banks in the country and among the EBRD’s oldest partners in Mongolia, will increase access to finance for private businesses. It will consist of three loans which will be used to support (a) micro, small and medium-sized enterprises (MSMEs) with up to €27 million, (b) value-chain financing that will also benefit small businesses, with up to €13.5 million, and (c) sustainable energy improvements for up to €4.5 million.

Khan Bank will on-lend to its clients the funds provided by the EBRD. The bank will also benefit from a €250,000 technical cooperation programme funded by the European Union’s Asia Investment Facility.

Irina Kravchenko, EBRD Head of Mongolia, said: “We are very pleased to be providing these new opportunities for small businesses in partnership with Khan Bank, one of Mongolia’s largest commercial banks, which provides access to finance in even the most remote areas. We consider projects such as these to be among our strategic priorities in Mongolia.”

In order to become more resilient, Mongolia’s economy needs to reduce its dependence on large enterprises and develop more small and medium-sized firms. For this, these companies – particularly in remote and rural areas – need more access to long-term funding.

The EBRD’s credit line to Khan Bank will help to address this issue. At the same time, the finance will provide much-needed funding for MSMEs that are part of value chains also occupied by large contractors, suppliers and sponsors.

The remaining part of the credit line will help companies reduce their energy consumption. This is crucial in Mongolia, where the average energy intensity per capita is more than double that of other EBRD countries of operations and carbon intensity per capita is three times higher. Over 90 per cent of the total primary energy supply comes from coal and oil, with most electricity and heating generated by ageing coal-fired plants that are in great need of rehabilitation and investment.

The EBRD loan will help private enterprises switch to more energy efficient technologies to make the Mongolian economy greener. It will be provided under the EBRD’s Mongolian Sustainable Energy Financing Facility, one of the EBRD’s pioneering climate-finance frameworks, and will come with a technical cooperation programme of €1.4 million funded by the EBRD Shareholder Special Fund.

Mongolia became an EBRD country of operations in 2006. The Bank is currently the largest multilateral investor in the country, with a total of about €1.4 billion (US$ 1.7 billion) invested to date and all projects in the private sector.

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MBD Business-to-Business (B2B) offers # 15 www.mongolianbusinessdatabase.com

MBD facilitates strategic business communications between Mongolian and foreign businesses, conducts targeted market research, and provides consulting for business looking to grow in Mongolia as well as those expanding internationally from within Mongolia. In addition, MDB organizes business programs and official delegations to build connections between the Mongolian and International markets.
MBD's "public face" www.mongolianbusinessdatabase.com" is the number one ranked website on Google for users searching terms related to business in Mongolia, attracting visitors from over 80 countries.
Please review the following MBD business offers package number 15 and feel free to visit www.mongolianbusinessdatabase.com for more information on each offer and contact us.
MBD Admin: contact@mongolianbusinessdatabase.com
976 98994787

Wheat flour, macaroni, pasta(Ukraine)
Seeking a partner

The Watches (Switzerland)
Looking for a distributor

Spare parts for heavy duty machinery(China)
Seeking a partner

Plastic injection mould, die casting mould(China)
Seeking a partner

Smart tv, 4K 2K UHD TV, Slim LED TV (China)
Seeking a partner

GPS tracker(China)
Seeking a partner

Silicon & Viton Rubber Products(India)
Seeking a partner

Materials, machines, surface treatments(China)
Seeking a partner

Automotive lubricants,industrial oil(Dubai,Ireland)
Seeking a partner

Pharmaceutical products(India)
Seeking a partner

Geological drilling equipment(China)
Seeking a partner

Heavy-duty truck parts(China)
Seeking a partner

Led products (China)
Seeking a partner

AC Drive/ VFD/ Frequency Inverters(China)
Seeking a partner

Uniform Fabric (China)
Seeking a partner

Passenger information system (Slovenia)
Seeking a partner

Ready-made garment (Bangladesh)
Seeking a partner

Sushi related products(China)
Seeking a partner

Screw pumps(China)
Seeking a partner

Sunflower and plants seed (China)
Seeking a partner

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Tesla shares fall from record high after warning from analyst www.reuters.com

SAN FRANCISCO (Reuters) - Shares of Tesla (TSLA.O) fell from record highs on Tuesday after an analyst warned that the electric car maker may take longer than expected to become profitable.

Jefferies analyst Philippe Houchois launched coverage of Tesla with an “underperform” rating, helping send shares of the company headed by entrepreneur billionaire Elon Musk down 2.17 percent to $376.74 after closing at a record high the day before.

“Achievements to-date and vision are impressive, but we don’t think Tesla’s vertically integrated business model can be scaled up as profitably and quickly as consensus thinks and valuation multiples imply,” Houchois warned in a research note.

Houchois’ $280 price target was well below the median analyst price target of $337.50, according to Thomson Reuters data.

Musk is counting on the recently launched Model 3, Tesla’s least pricey car, to make the Palo Alto, California company profitable and establish it as the leading electric carmaker ahead of BMW (BMWG.DE), General Motors (GM.N) and other long-established players.

Wall Street’s confidence in Musk has sent Tesla’s stock up 83 percent over the past year to record highs.

Skeptics believe Tesla’s aggressive production targets are unrealistic, that Musk is burning through cash too quickly and that the company’s electric cars will be overtaken by larger automakers.

Eight analysts recommend buying Tesla’s stock, while another eight recommend selling, and eight others have neutral ratings, according to Thomson Reuters data. That makes Tesla one of the 10 most poorly-rated stocks in the Nasdaq 100 index.

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Kaspersky Lab says it does not spy for any government www.rt.com

Russian cybersecurity firm Kaspersky Lab says it is disappointed by a vote in the US Senate stopping it's software from being used by federal agencies and insists it is not affiliated with any government, including that of Russia.

"Kaspersky Lab is disappointed the US Senate passed the Defense Authorization Act with an amendment regulating the use of the company's products. Thus, Kaspersky Lab appreciates the opportunity given by the US government to address the Congress on September 27 and publicly refute false accusations against the company" Kaspersky Lab in a statement on Tuesday.

On Monday, the Senate passed an amendment against the Russian company, which was proposed by New Hampshire Democrat Jeanne Shaheen. The senator said the prohibition “removes a real vulnerability to our national security.”

The bill would bar the use of Kaspersky Lab in American civilian and military agencies.

Kaspersky Lab has stated it believes that "building assumptions about possible risks based on inaccurate information and the country of origin of the company means to expose everyone to an additional threat since such a decision restricts the choice of cybersecurity products on the market."

"We very much hope that the Congress will take into account the information provided before discussing further steps," Kaspersky Lab said.

Earlier, the company co-founder Eugene Kaspersky said he was ready to testify on September 27 before Congress if the United States granted him an accelerated visa.

Kaspersky Lab is a 20-year-old anti-virus company that has 400 million customers globally. The company has fiercely denied it conducts espionage on behalf of the Russian government.

The company says all three existing offices in the United States continue operating, including a subdivision in Washington.

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JPMorgan involved in bitcoin-related trading while boss calls it good for drug dealers & murderers www.rt.com

JPMorgan Chase has been helping customers with orders for bitcoin-related instruments, the bank’s spokesman said on Monday. Last week, bank CEO Jamie Dimon called the cryptocurrency “a fraud.”

The bank is working as an intermediary for buyers and sellers of Bitcoin XBT, an exchange-traded note designed to track the value of the digital currency.

However, according to JPMorgan spokesman Brian Marchiony, “they are not JPMorgan orders, these are clients purchasing third-party products directly.”

JPMorgan has also posted a job ad for a blockchain technician. Blockchain is the technology behind bitcoin and other cryptocurrencies.

“The Blockchain Center of Excellence (BCOE) leads efforts for applications of distributed ledger technology (DLT) within JPMorgan. We are exploring blockchain use cases and piloting solutions across business lines. We are active in the blockchain ecosystem: developing technology, investing in strategic partnerships, and participating in industry consortia,” The job listing on JPMorgan’s website reads.

The CEO of JPMorgan Chase Jamie Dimon has called bitcoin a fraud that will blow up, saying the cryptocurrency could be useful “if you were in Venezuela or Ecuador or North Korea.. or if you were a drug dealer or a murderer.”

Bitcoin was created as a response to poor financial management after major banks, including JPMorgan, contributed to the 2008 world financial crisis.

According to Max Keiser of RT’s Keiser Report, bankers dislike bitcoin because it “makes banks, essentially price gouging intermediaries and socially unacceptable leeches, obsolete; bankers rightfully fear for their jobs as bitcoin replaces them.”

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Operational Update and Board Change www.petromatadgroup.com

Petro Matad, the AIM quoted Mongolian oil explorer is providing an operational update:

Highlights
• The Farmout process has advanced, and a number of potential partners are going through internal approval processes, with decisions expected in 4Q 2017 or 1Q 2018.
• Management, as well as all potential farm out partners, believes that a 3D seismic programme will enhance the farmout process, while de-risking and growing our portfolio of drillable prospects.
• A comprehensive 3D seismic programme will now commence shortly; defining and high grading drilling targets within the Tugrug Basin, Block V. Additional 2D seismic data will also be acquired
• The Company has no plans to draw down further from its current financing facility, as its 3D seismic programme is fully funded
• The contracted SINOPEC rig has been undergoing inspection and certification, and while this process is still ongoing, the rig will not achieve full certification in time to undertake the planned drilling programme in 2017
• An expected three-well exploration drilling programme is planned to commence in Spring 2018
• The Board is re-structuring the executive management of the company

Funding / Farmout
The farmout process continues and a number of companies remain in active dialogue with management. These potential partners appear to be more willing to fund a strategy where additional seismic is acquired before a drilling campaign is undertaken. Several potential farminees have expressed a clear preference to de-risk certain prospects in the Tugrug basin using 3D seismic and better defining a number of stratigraphic 'leads' that have so far only been identified on 2D seismic data. They may also be better positioned to farm-in once their 2018 exploration budgets have been established, which could occur as early 4Q 2017. The Company remains optimistic with regards to bringing in a farm-in partner, as without exception, every company that has reviewed the opportunity has responded with very enthusiastic comments regarding the hydrocarbon potential of the licences.

As the Company is fully funded for its current seismic work program, it has no plans to make further drawdowns from its finance facility.

Seismic Campaign
The 3D seismic campaign will be focused on the Tugrug basin, in Block V and high graded drilling targets within this basin. The 3D seismic will also, help identify stratigraphic traps which have significant potential in analogous basins such as the Vandana discovery in the Barmer Basin, India and the Sea Lion field in the North Falkland Basin; both having multi billion barrels of oil in place.

Additional 2D seismic will be shot to high-grade several other basins to add more drillable prospects to the Company's growing prospect inventory. The decision to acquire 2D seismic data over several new basins is again influenced by feedback from potential farminees, who have expressed interest in these areas as potential future exploration targets.

Drilling Campaign - Irves-1 (Snow Leopard)

Snow Leopard's target depth of 3150 meters will represent the deepest well ever drilled in Mongolia. As such, considerable time has been spent by Petro Matad to ensure that it has a rig capable of delivering the defined drilling programme, conducting it safely and in full compliance with international standards. The Sinopec rig that was contracted to undertake the planned drilling programme has been undergoing extensive inspection and certification at its current location in Block 97, Mongolia. Under the contract the rig was required to be fully certified, and the well spudded by 15 September 2017. Whilst Sinopec are still in the process of obtaining certification, this work will not be completed before October 2017, and as a consequence there will be insufficient time to mobilise the rig and complete the drilling programme before winter conditions set in. As Sinopec have been unable to fulfil their contractual obligations, Petro Matad has served a notice of default on Sinopec and has entered into discussions with Sinopec on potential remedies. Depending on the outcome of these discussions, the Company will either terminate the contract and issue a new tender for a 3-well programme commencing in the first half of 2018, or continue with Sinopec as drilling contractor, in the event the rig is certified and adequate concessions are obtained.

While it was not the desired outcome, this postponement of the drilling programme will, however, allow Petro Matad to enhance its drilling portfolio via the acquisition of a 2D and 3D seismic programme, which is set to begin shortly. While the reason for delaying the drilling programme is related to the preparedness of the rig, it does also serve to improve the position of the Company with respect to a potential farmout. These potential partners have expressed a preference to participate in a multi well drilling program next year and to provide input into target selection and the order of drilling. A back to back multi well program in one season would also significantly reduce our drilling costs.

Management re-structuring

The Board of Petro Matad is implementing a strategy to re-structure the company's executive management to bring onboard senior executives with proven operational and commercial track record. Petro Matad has significant milestones to deliver on concluding the farm out, carrying out a multi well drilling campaign in 2018 and executing a multi year exploration and development work program. Mr Ridvan Karpuz, CEO will be stepping down from his position in mid-October and continue thereafter as a technical consultant. The search for a successor has already been initiated and is progressing well.

The Company is pleased to announce the hiring of Nick Cousyn as Chief Communications Officer, who will lead our Public and Investor Relations effort. Mr. Cousyn brings with him 18 years of public markets experience and has spent the last 5 years in Mongolia as BDSec JSC's Chief Operating Officer. His focus over the last 5 years has been in Capital Markets, M&A and Corporate Advisory.

Enkhmaa Davaanyam, Chairman of Petro Matad, commented:
"Good progress has been made on discussions with a number of potential farm-in partners and it is very reassuring that all the companies have responded favourably to the technical potential and scale of our licences.

While we are disappointed not to be able to drill in 2017, the opportunity to high grade additional drilling targets ahead of a rescheduled 3-well drilling campaign in Spring 2018 is clearly beneficial to the long-term value potential of the business and our ability to secure a farm-in partner.

I would like to thank Ridvan for his hard work and significant contribution to Petro Matad and wish him well in his future endeavours. We have initiated a search process for a new CEO and we are already progressing well and I look forward to updating the market once the candidate is in place."

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BoM issues 1-week bills www.mongolbank.mn

The Bank of Mongolia traded 612.2 billion MNT worth 1-week maturity central bank bill (“CBB”), with weighted average yield of 12.0 percent per annum. 

1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.

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Mongolia joins global alliance for torture-free trade www.montsame.mn

Ulaanbaatar /MONTSAME/ Ahead of the 72nd regular session of United Nations General Assembly, the European Union, Argentina and Mongolia co-lunched the initiative Global Alliance for Torture-Free Trade on September 18 at the UN Headquarters in New York, USA.

The initiative's purposes are to raise public awareness, to improve legal environment, to exchange practices, to create an information network and to involve private entities and civil societies to stop the trade in goods used to carry out the death penalty and torture.

On the launch day, the 58 countries joined the initiate have signed a joint political declaration that expressed willingness to ban the trade of goods used for the death penalty and torture.

Opening the event, Acting Foreign Minister Ts.Munkh-Orgil stressed Mongolia has abolished death penalty and expressed his hope that the initiative would have significant contribution in maintaining and protecting human rights.

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Monetary policy statement: Keeping the policy rate unchanged www.mongolbank.mn

The Monetary Policy Committee meeting was held on 15 September 2017, and it was decided to keep the Policy rate unchanged at 12 percent.

As of August 2017, annual inflation measured by the consumer price index has reached 5 percent nationwide and 5.4 percent in Ulaanbaatar city. In the first half of this year, growth of the Mongolian economy exceeded forecasts and reached 5.3 percent (on annual basis). Furthermore, economic growth is expected to accelerate and inflation is expected to stabilize around the medium term target rate of 8 percent.
Mongolian economy is currently stimulated by improved external demand, relatively high prices of the major export commodities and increased investments in the mining sector. While the Bank observes positive changes in market sentiment and positive trends in economic activities, further prospects are highly conditional on export prices and volume.
The Bank’s decision to maintain the policy rate unchanged is consistent with its mandate to stabilize inflation around the target rate and thereby facilitate the stability of macroeconomic environment in the medium to long run.
Extracts of the meeting minutes will be released in two weeks on the Bank of Mongolia’s website.

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MSE market cap hits 2 trillion mark www.mse.mn

On September 18, 2017, 338,753 securities worth MNT 645,889,989 were traded on the MSE.

Of the 338,753 shares of 28 firms listed as Tier I, II, and III traded, 21 firms’ stocks increased while 3 decreased in price and 4 remained unchanged. Arig Gal JSC was the top performer, increasing 14.38 percent, whereas Talkh-Chikher JSC was the worst performer, decreasing 3.04 percent.

On the secondary market for government bonds, 773 bonds worth MNT 76,152,430 were traded whereas 4,094 securities worth MNT 409,400,000 were traded by the block.

On the secondary market for corporate bonds, 20 bonds were traded at a value of MNT 2 million.

The MSE ALL index and TOP-20 index rose 2.2 percent and 2.8 percent respectively, while the MSE’s market capitalization hit MNT 2,027,180,739 – the highest level since March 30, 2012.

MONGOLIAN STOCK EXCHANGE

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