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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World Bank assigns $8bn for Silk Road projects www.rt.com

Billions of dollars have been allocated by the World Bank for infrastructure projects in the Chinese Silk Road Economic Belt, according to the bank’s president Jim Yong Kim at the 1+6 roundtable meeting in Beijing.

“Investments, particularly in infrastructure, are extremely important. The Chinese initiative of the economic belt of the Silk Road catalyzes infrastructure investments,” he told the heads of major international organizations.

“The World Bank will help the countries within the initiative to take maximum advantage of the opportunities provided, in accordance with their own development strategies,” he added.

According to the World Bank’s International Finance Corporation (IFC), an extra $1 billion is expected to be raised within a year as part of a planned $5 billion infrastructure investment fund for China’s Road and Belt program.

“We have raised the first $1.1 billion, we are going to raise the next billion probably within the next year, that’s my guess,” IFC Chief Investment Officer for infrastructure and natural resources Ram Mahidhara told Reuters.

The fundraising plans are part of IFC’s so-called Managed Co-Lending Portfolio Program (MCPP) that seeks to raise more than $5 billion from investors by 2021, he said. A large part of the funds will be deployed for Belt and Road related projects, the official added.

The Belt and Road Initiative was first proposed by China in 2013. It envisions two components: the Silk Road Economic Belt and the 21st Century Maritime Silk Road that are expected to cover more than 60 percent of the world’s population and more than a third of global economic output.

The Chinese proposal envisages the creation of six economic corridors: Bangladesh-China-India-Myanmar, China-Mongolia-Russia, China-Central Asia-West Asia, China-Indochina Peninsula, China-Pakistan Economic Corridor and the Eurasian Land Bridge.

In 2015, Russia and China agreed a “new platform” for economic development of the Eurasian Economic Union and the Silk Road Economic Belt.

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Mongolian delegates fly to Egypt for AFI Summit www.news.mn

A Mongolian delegation from the Financial Regulatory Commision has flown to the Egyptian city of Sharm El Sheikh, for the 2017 AFI Global Policy Forum (GPF). The event will take place from 13th-15th September. The Mongolian delegation is being led by S.Davaasuren, director of the Financial Regulatory Commision and Ts.Altantuul, director of the Department of Confederation and Credits.

The Alliance for Financial Inclusion (AFI) has more than 100 member institutions representing over 90 nations across the globe, making the GPF the most important and comprehensive forum for regulatory institutions with an interest in the promotion of financial inclusion policy. The forum focuses on the development and improvement of national financial inclusion strategies and policies, and is used as a platform for senior financial regulators to exchange ideas and engage in peer-to-peer learning activities.

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Petro Matad executive director Amarzul Tuul leaves post www.news.mn

Mongolian oil explorer Petro Matad Ltd announced Monday that Executive Director Amarzul Tuul has left the company with immediate effect, citing personal reasons.

However, she will continue to work for the company as a consultant and will remain Petro Matad's appointed representative at the Mongolian Petroleum Exploration and Production Association.

Shares in Petro Matad were down 2.2% at 10.38 pence on Monday.

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Friedland confident Congo copper project will be bigger than Grasberg www.mining.com

Robert Friedland is mining’s most consummate promoter and the executive chairman of Ivanhoe Mines yesterday grabbed the opportunity to advertise his latest venture – the Kamoa-Kakula project in the Congo – with his usual gusto.

Friedland transformed what could have been a set of exciting drill results into 43 holes of “global significance in the copper world”.

Not that he doesn’t have a lot to work with.

Ivanhoe’s May update lifted Kamoa-Kakula’s resource base above a billion tonnes for the first time and thanks to grades that are a distant memory for Chile’s giants, the in-situ value is an eye-watering $193 a tonne at today’s prices.

Friedland said he’s looking forward to giving shareholders a “substantial” resource expansion in time for Christmas:

“Kamoa-Kakula already is independently ranked as the fifth-largest copper deposit in the world. Seeing the unprecedented rate of growth of high-grade copper resources since drilling began at Kakula in May 2016, I am confident now that soon it will be among the top three.

“The remarkable consistency of the ultra-high-grade copper mineralization at the Kakula Discovery is unlike anything geologists have ever seen in the DRC’s Copperbelt. The discovery remains open in virtually all directions, so the real question is, how much bigger and better is Kakula going to get?” Mr. Friedland added.
Eleven of the 14 rigs at the project are drilling to define resources over the entire strike length of Kakula which now extends at least 12km – an increase of roughly 60% since May.

Ivanhoe is clearly working the project hard. An updated preliminary economic assessment for two mines of 6m tonnes per year each is expected during the fourth quarter as is a base case pre-feasibility study for the the first phase of development of the deposit which Ivanhoe discovered a decade ago.

If things pan out as predicted Kamoa-Kakula would only be topped by Escondida in Chile and Australia's Olympic Dam in terms of sheer size. The DRC project (close to another venerable copper name; Kolwezi) will at the same time overtake Grasberg in Indonesia and Chile's Collahuasi in the rankings.

Ivanhoe and joint venture partner Zijin Mining each own just under 40% of the project and the DRC government 20%. China's Zijin came on board at the end of 2015 for what now seems a steal at not much more than $400m. Even considering at the time copper was barely holding above $2 a pound ($4,500 a tonne).

On Tuesday the bellwether metal was trading just above $3 / $6,650 consolidating a sparkling run since the beginning of June.

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WhatsApp co-founder Brian Acton to leave company www.reuters.com

(Reuters) - Brian Acton, co-founder of WhatsApp, now owned by Facebook Inc (FB.O), will leave the messaging service company to start a new foundation, he said in a Facebook post on Tuesday.

Acton spent eight years with WhatsApp, which Facebook bought in 2014 for $19 billion in cash and stock.

A Stanford alumnus, Acton co-founded WhatsApp with Ukrainian immigrant Jan Koum in 2009. The duo worked at Yahoo before starting WhatsApp.

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Active business readers reached to 6100 on its 150th issue www.mongolianbusinessdatabase.com

We are pleased to announce the "MBD Daily News Bulletin" active readers reached 6,100 as of today with the release of its 150th issue.

The readers are both Mongolia-based and/or those "doing business with Mongolia". Included are interested professionals/business people/top company managers from Mongolia and abroad, international organizations, donors, diplomatic missions in/for Mongolia.

MBD will be happy to share your business success and breaking news through the news bulletin, FB page with more than 17.000 liked followers and our Google's related search leading www.mongolianbusinessdatabase.com portal site. MBD's site reaches visitors from approximately 90 countries according to the recent monthly Google analytics report. Please note that MBD does not provide commercial advertisements on its daily news bulletin.

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Mongolia wants to cooperate with UAE in justice www.montsame.mn

Ulaanbaatar /MONTSAME/ S.Byambatsogt, Minister of Justice and Internal Affairs, received a delegation headed by Khamad Ali Am, Head of Criminal Investigation Department of the Ministry of Interior of the United Arab Emirates (UAE), on September 12.

S.Bayartsogt talked about current activities of the Ministry in fighting against crimes, detection of crimes and ensuring the public order, and then said Mongolia wanted to cooperate with the UEA in strengthening the collaboration between the Ministries, sharing experiences in law enforcement and training the human resource and providing them with mid-career training.

The Minister said that the two countries started their cooperation in the law enforcement sector and made an agreement to collaborate in empowering the law enforcement and police bodies and exchanging experience during his participation in an international forum of the Interpol held in Abu Dhabi and official meeting with Saif bin Zayed Al Nahyan, the UAE Deputy Prime Minister and Minister of Interior.

At the meeting, the Mongolian side put forward a proposal to establish a cooperation memorandum between the Ministries and presented to the UAE a draft of the memorandum.

By the visiting program, the UAE Interior Ministry delegation will hold a meeting at the General Authority for Implementing Court Decisions and will get acquainted with activities of the General Police Department, the National Institute of Forensic Science as well a prison.

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China banks restrict North Korean accounts www3.nhk.or.jp

NHK has learned that 4 major state-owned banks in China took measures to restrict the financial transactions of North Korean citizens.

Sources familiar with the situation said that the banks sent a notification to the North's embassy in Beijing and its consulate general in Shenyang.

They said it demanded the bank accounts of all North Koreans, including diplomats, be emptied by the end of August.

Since then, financial transactions involving North Koreans are said to have almost ceased.

The sources added that North Koreans in principle aren't allowed to open new accounts.
It is rare for the Chinese banks to take such strict measures on North Korean diplomats, as even under UN sanctions each is allowed to open one account.

In June, the US government unilaterally punished a bank in Dandong, Liaoning Province, for allegedly facilitating the transfer of money for companies involved in the North's missile development.

The latest move is seen as China's attempt to show that it's taking a tougher line on the North.

However, it remains to be seen how much impact the measures would have on Pyongyang.

Many North Korean merchants in China are said to be doing business in cash or using the accounts of Chinese trading partners.

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First dry port set up in Inner Mongolia www.sxcoal.com

Northern China's leading coal base Inner Mongolia embraced its first dry port on September 7, local media reported, marking the inland region obtains a sea-rail intermodal transport channel from this time on.

A dry port (sometimes inland port) is an inland intermodal terminal directly connected by road or rail to a seaport and operating as a center for the transshipment of sea cargoes.

Located at Ordos Xinjuyuan Industry Chemical Company and co-built by China's large seaborne Tangshan port, the inland port can speed up customs clearance and reduce container handlings for coal cargoes from Inner Mongolia to the Bohai Rim port.

It's expected that Inner Mongolian coal cargoes can save three days to Tangshan port through the original route, and freight cost can be lowered by about 8 yuan/t.

Ordos Xinjuyuan Industry Chemical Company, invested by Inner Mongolia Tiexin Coal Chemical Group Co., Ltd. under Hohhot Railway Administration, is the largest coal transport company along Baoxi railway (Baotou-Xi'an), owing the biggest enclosed coal warehouse in Northwestern China, which can pile up 700,000 tonnes at most.

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The US government just passed $20 trillion in debt for the first time ever www.businessinsider.com

For the first time in its history, the US federal government has more than $20 trillion in outstanding debt.

The milestone was technically hit Friday, with the Treasury Department settling its accounts at the end of the day with $20,162,176,797,904 of debt outstanding. Of that debt, the Treasury said $14,622,661,213,046 is held by the public, while $5,539,515,584,857 is held by various parts of the government, also known as Intragovernmental Holdings. 

The amount of debt held by the federal government had been stagnant since March due to the debt ceiling, or the statutory limit of debt the Treasury is allowed to hold at any one time.

Since the limit was reimposed in March, the Treasury used so-called "extraordinary measures" to keep the amount of debt at the roughly $19.84 trillion cap.

On Friday, President Donald Trump signed into law a bill that, among other things, suspended the debt ceiling until December 8. That means the Treasury can borrow freely until that date, when the outstanding amount becomes the new debt ceiling and extraordinary measures must begin again unless new legislation is passed.

That led to the roughly $317 billion jump in the amount of debt outstanding, likely to refill the Treasury's ability to use those extraordinary measures in three months if needed.

Given the jump in funding, the Treasury could hold out until at least sometime in early March on the extraordinary measures. If all falls right with corporate and individual income tax receipts, that could be extended through the summer of 2018, analysts say.

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