1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     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    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Large-scale projects to be implemented in coming years in collaboration with China www.mongolia.gogo.mn

 
Mongolia and China established 21 cooperation agreements and memorandums during Prime Minister J.Erdenebat’s visit to the People's Republic of China. Significances of some of the documents were asked by a MONTSAME correspondent from relevant officials and business delegates.
 
TECHNOLOGY TRANSFER CENTER TO BE ESTABLISHED BASED ON INNOVATION DEVELOPMENT
 
Minister of Education, Culture, Science and Sports J.Batsuuri on the MoU between the Ministry of Education, Culture, Science and Sports of Mongolia and Ministry of Science and Technology of China on the development of science park and innovation infrastructure:
 
“- Within the memorandum, an incubator center to transfer technology will be established based on science and technology park and innovation development. The document also indicates that young Mongolian scholars and researchers will be involved in training and conduct research in science institutes in China for long and short terms. We hope works to be done within the document will be contributions by the Chinese science and research institutions to the Mongolia's science development.
 
OYU TOLGOI IMPORT ENERGY FROM CHINA OVER THE NEXT FOUR YEARS
 
General Director of National Power Transmission Grid state-owned company B.Nyamsambuu: Our company signed an agreement on power purchase with Energy International Cooperation Company of Inner Mongolia, China. Oyu Tolgoi will import energy from China over the next four years and our company is in charge of the import agreement. As a result of successful talks, we managed to lower the price of importing energy by USD3 million by a yearly amount.
 
600MWt POWER PLANT TO BE BUILT IN DUNDGOBI AIMAG
 
“Mongol Power” LLC is to implement a power plant project in Tevshiin Gobi. Executive Director Erdembileg: “- Our company established a memorandum with Chinese Energy Investment Corporation to build 600 MWt power plant based on Tevshiin Gobi mine, located in Saintsagaan soum of Dundgobi aimag. A concession agreement was established in 2017 and the project is under the process of document development. The realization of the project is expected to start next year. The project aims to ensure energy stability of the central energy network and recover energy deficiency.
 
The USD1.1 billion project is the biggest since the construction of 4th combined power plant in 1982. Firebird company of the USA and other Mongolian investors will fund the project with a ration of 51:49. The plant will have an air cooling system, therefore it will utilize much less water: equals to 5 per cent water usage of a plant with water cooling system.
 
CONSTRUCTION FACTORY FOR AFFORDABLE HOUSES TO BE BUILT
 
A cooperation agreement was signed between Ganit Group of Mongolia and Junmin Juyuoi a technological company. Director of Ganit Group Ts.Batbayar ‘We will collaborate to establish house construction factory, which will have the latest modern technology for building houses at a minimum-cost. The factory will be significant to reduce air, soil and environment pollution while improving the living conditions of Ulaanbaatar residents through building new houses with a cost of less than MNT1million per square meter.
 
The construction is expected to cost CNY350 million and start this June. The factory will have an annual capacity of producing 1 million sq.m houses or houses for 200 thousand families in a year, which means in four years, housing need of Ulaanbaatar will be satisfied by building 4 million sq.m houses. The project will last for four years.
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Education cooperation between Mongolia and Italy discussed www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Ts.Jambaldorj, Ambassador of Mongolia to Italy met with Dorina Bianchi, Deputy Minister of Culture and Tourism of Italy. The two sides talked about future bilateral cooperation and steps to take following the meeting of the Mongolia-Italy Intergovernmental Commission held last April in Ulaanbaatar, in which Ms. Dorina Bianchi participated among Italian delegates.
 
Ambassador Ts.Jambaldorj mentioned that an agreement on cooperation in the fields of education, culture, science and sports between the governments of Mongolia and Italy in 2017-2020 is to be signed within the first half of this year. Also, he pointed out that the Embassy of Mongolia in Rome, Italy is studying a matter to hold an exhibition on Mongolian history and culture on the occasion of the 50th anniversary of diplomatic relations between Mongolia and Italy, which will be marked in 2020.
 
Deputy Minister Dorina Bianchi said that the Ministry of Culture and Tourism of Italy would like to intensify the bilateral collaboration with Mongolia in the cultural sector and expressed her willingness to organize reciprocal exhibitions in the capital cities dedicated to the anniversary.
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Alibaba Is U.S. Favorite as Hedge Funds Fly From Ctrip: Chart www.bloomberg.com

 
U.S. hedge funds increased their holdings in Alibaba Group Holding Ltd. more than any other U.S-listed Chinese stock in the first quarter, 13-F filings show, followed by a net increase in Momo Inc. That’s a change from the same period last year, when both companies were among those most sold. A net total of about $2 billion was added to holdings of Chinese stocks in the U.S. from the start of the year to the end of March. At the same time, the Nasdaq Golden Dragon Index gained 19 percent.
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Three candidates to run for president www.en.montsame.mn

On May 17, the General Election Commission held a press conference to announce the names of candidates for the upcoming Presidential Election to be held on June 26.
 
Three candidates – Parliament Speaker M.Enkhbold representing Mongolian People’s Party, former Member of Parliament Kh.Battulga representing Democratic Party and former Member of Parliament S.Ganbaatar representing Mongolian People’s Revolutionary Party will run in the June election to be Mongolia’s 5th President.
 
The candidates can open a bank account for donations, and entities can donate up to MNT 15 million and individuals up to MNT 3 million.
 
During the press conference, the GEC officials also reported that Mongolians living abroad will vote on June 10-11.
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Several documents expected for signing at Mongolia-Kuwait meeting www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting on May 27, Wednesday, the Cabinet approved the instructions for Mongolian delegates to partake in the first meeting of Mongolia-Kuwait Intergovernmental Commission which is to take place on May 23-24 in Kuwait city.
 
The meeting aims to reflect on bilateral ties and cooperation, determine future outlook, and discuss investment and collaborative projects. The Mongolian delegation to partake in the meeting is headed by Head of Cabinet Secretariat J.Munkhbat.
 
It was decided that the construction of National Burn Treatment Center would be financed by a non-refundable aid of the Government of Kuwait. During the meeting, the agreement on the project will be established. Moreover, Mongolian side will seek to establish an agreement on the project of asphalt pavement of Undurkhaan airport runway, Khentii aimag.
 
Moreover, a protocol on sanitary requirements for meat export to Kuwait and a memorandum of understanding between the standardization organizations of the two countries are planned to be signed during the meeting.
 
Over the years, the Kuwait Fund has granted soft loans worth USD 78 million and USD 13 million non-refundable aid to Mongolia.
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Erdenet Mining Corporation able to operate another 60 years www.en.montsame.mn

 
Orkhon /MONTSAME/ During the central region forum of mining industry held in Orkon aimag on May 15-16 on the occasion of the 95th anniversary of the development of the mining sector in Mongolia, Director of Erdenet Mining Corporation Kh.Badamsuren briefly informed about the current state of the Erdenet - one of the largest copper mines and some major works completed within the first four months of 2017.
 
As of the first quarter of 2017, the company has allocated over MNT 190 billion to the state budget and completed formulating a plan for the development tendency of the company for the next 15 years. “Erdenet Mining Corporation has a potential to work for another 60 years” he noted.
 
Furthermore, an issue of white dust produced by the mining activity of the Erdenet Mining Corporation in Orkhon aimag was discussed. In this regard, D.Tsogtbaatar, head of the Professional Association of Mining (PAM) said a request to reduce the dust emssions has been forwarded to the company. "Talks are underway to develop and introduce a new technology from USA to reduce dust emission”.
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Japan's economy just logged its longest stretch of growth in over a decade www.businessinsider.com

 
Japan’s economy grew at the fastest pace in a year in the first quarter of 2017, according to data released by the government on Thursday.
 
Real GDP increased by 0.5%, marginally shading expectations for a smaller expansion of 0.4%. It was also an improvement on the 0.3% increase of December quarter.
 
It was the fifth consecutive quarterly increase, the longest stretch of uninterrupted growth since 2006.
 
While a notable achievement, the record provides an indication about the struggles the Japanese economy has endured over that period, buffeted by falling population growth, deflation and the global financial crisis.
 
The quarterly increase took the seasonally-adjusted annual rate to 2.2%, the fastest growth seen since the first quarter of 2016. That was ahead of market forecasts for an increase of 1.7%, and followed an upwardly-revised December quarter figure of 1.4%.
 
According to the government, domestic demand grew by 0.4%, driven by a similar increase in private consumption during the quarter.
 
The latter accounts for around 60% of the total Japanese economy.
 
Elsewhere private residential investment rose by 0.7%, while business investment grew by a smaller 0.2%.
 
Public demand expanded by a smaller 0.1%
 
External demand, or net exports, added 0.1% to the quarterly GDP figure as exports grew faster than imports.
 
However, while real GDP grew, nominal GDP — including price movements during the quarter — recorded a marginal decline.
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Foreign ministers of Mongolia and Thailand meet www.en.montsame.mn

Ulaanbaatar /MONTSAME/ On May 17, Ts.Munkh-Orgil, Minister of Foreign Affairs of Mongolia met with his counterpart of Thailand, Don Pramudwinai. The foreign ministers discussed a broad range of issues concerning Mongolia-Thailand bilateral relations and they noted the importance of broadening the cooperation in areas of trade, economy and tourism.
 
During the meeting, Minister Ts.Munkh-Orgil highlighted that Mongolia strives to enhance its participation in the regional integration process, for instance, by becoming an ASEAN Dialogue Partner and requested for continued support from Thailand in this regard.
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Renewable energy network to be established between Mongolia and Russia www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Prime Minister of Mongolia J.Erdenebat received Oleg Mikhailovich Budargin, Director General of Russian Rosseti LLC on May 16. On behalf of Rosseti LLC, Mr. Oleg Mikhailovich Budargin expressed the company’s intention to implement a project to establish a renewable energy network. And PM J.Erdenebat agreed upon the request to deploy working group to establish 500 kWh renewable energy line between Mongolia and Russia.
 
By establishing the network, Mongolia would be provided with sustainable energy. And the sides are aiming to establish an energy supply line with a capacity of 220 kWh. The line, which will be built with fiber optic cable, will enable the development of telecommunications.
 
The United Nations has made resolutions to use renewable energy in the Global Energy Grid. The sides were pleased to agree upon the possible establishment of a joint energy network between the two countries, which can also connect Asia and Europe. Presently, Mongolia negotiated on establishing a railway corridor between the two neighbors. And PM J.Erdenebat remarked the possibilities of establishing a renewable energy corridor as well.
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Lotte to sharply boost chocolate output capacity in Japan www.asia.nikkei.com

 
TOKYO -- In response to robust demand, Lotte Holdings will spend about 32 billion yen ($288 million) to set up a chocolate ingredient plant in Japan, aiming to increase its overall chocolate production by roughly 40%.
 
The facility, which is expected to reach full operation in June 2019, will be situated on the premises of Lotte's mainstay Urawa production plant, in Saitama Prefecture. The snack maker, a key part of the Lotte business empire straddling Japan and South Korea, hasn't made an investment of this size since the 1960s, when it opened the Urawa factory.
 
The new plant will produce the intermediate ingredient for chocolate. The plant's output will be used to make such finished products as Ghana Milk Chocolate and Choco Pie. This will enable Lotte to lift its annual chocolate production capacity to about 110 billion yen in sales value.
 
Chocolate products touting health benefits have grown increasingly popular in Japan. With many chocolate makers rolling out snacks with high cacao content and probiotics, sales to middle-aged and senior consumers have been brisk. According to industry group All Nippon Kashi Association, the Japanese market for chocolate grew 18% over five years to 526 billion yen in 2016, based on retail value. Lotte decided on the major factory investment on expectations that demand will continue to grow, particularly for chocolate products featuring health-promoting ingredients.
 
Rivals are also ramping up production. In September, Meiji Holdings' core subsidiary spent over 500 million yen to double the production capacity of chocolate with high cacao content at an Osaka plant. Also last fall, Ezaki Glico more than doubled the output volume of Libera chocolate, which the company claims helps hold down fat and sugar absorption.
 
Lotte is separately working on increasing ice cream production as well. Its Lotte Ice Cream unit plans to install a 7 billion yen production line at the Urawa factory, with the goal of bringing it on line as early as fiscal 2018. With some upscale ice cream brands selling well even in winter, the confectionery maker hopes to capitalize on the strong demand.
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