1 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      2 RUSSIA AND MONGOLIAN BORDER CROSSING NO. 487 WWW.NEWS.MN PUBLISHED:2018/09/20      3 WORLD ECONOMICS REPORTS THAT MONGOLIA’S EMPLOYMENT RATE HITS A FIVE-YEAR HIGH WWW.GOGO.MN PUBLISHED:2018/09/20      4 USD HITS RECORD HIGH IN MONGOLIA DUE TO HIGHER IMPORTS WWW.CHINA.ORG.CN PUBLISHED:2018/09/20      5 READOUT OF VICE PRESIDENT MIKE PENCE’S MEETING WITH PRIME MINISTER UKHNAA KHURELSUKH OF MONGOLIA WWW.WHITEHOUSE.GOV PUBLISHED:2018/09/20      6 MONGOLIA LAUNCHES EU-FUNDED PROJECTS TO PROMOTE GREEN DEVELOPMENT, ENVIRONMENTAL PROTECTION WWW.XINHUANET.COM PUBLISHED:2018/09/20      7 COAL EXPORTS FROM TOP SHIPPER HOBBLED WITH MINERS FACING CONSTRAINTS WWW.MINING.COM PUBLISHED:2018/09/20      8 FRONTIER'S "INVEST MONGOLIA TOKYO 2018" WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/09/19      9 U.S.-CHINA TRADE TUSSLE IS CREATING WINNERS IN SOUTHEAST ASIA WWW.BLOOMBERG.COM PUBLISHED:2018/09/19      10 YUSAKU MAEZAWA: THE JAPANESE BILLIONAIRE WHO WANTS TO FLY TO THE MOON WWW.BBC.COM PUBLISHED:2018/09/19      ШЕНГЕНИЙ БОГИНО ХУГАЦААНЫ ВИЗИЙН МЭДҮҮЛГИЙГ УЛААНБААТАР ХОТОД АВНА WWW.MEDEE.MN НИЙТЭЛСЭН:2018/09/19     2018 ЭХНИЙ 7 САРД МОНГОЛЧУУД ГАДААД РУУ ЭМЧИЛГЭЭНД ЯВАХДАА 19.5 САЯ АМ.ДОЛЛАР ЗАРЦУУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ӨНӨӨДӨР ТӨВ ТАЛБАЙД 4000 АЖЛЫН БАЙРАНД БҮРТГЭНЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/09/19     ЗАЛУУЧУУДЫН ГАРААНЫ БИЗНЕСИЙН ШАЛГАРСАН ТӨСӨЛД 10,0 САЯ ТӨГРӨГИЙН ДЭМЖЛЭГ ҮЗҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/19     WORLD ECONOMICS: МОНГОЛЫН АЖИЛ ЭРХЛЭЛТИЙН ТҮВШИН СҮҮЛИЙН 5 ЖИЛИЙН ДЭЭД ТҮВШИНД ХҮРЛЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ERD: "ХӨНДИЙ" АЛТНЫ ТӨСЛИЙН ТОГТООГДСОН НӨӨЦ 751 МЯНГАН УНЦ АЛТ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ХЯТАДЫН $200 ТЭРБУМЫН ИМПОРТОД ТАРИФ ТОГТООВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/19     ШИВЭЭХҮРЭН БООМТООР ХОНОГТ 60-80 МЯНГАН ТОНН НҮҮРС ЭКСПОРТОЛЖ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/19     БНХАУ-ЫН 200 ТЭРБУМ АМ.ДОЛЛАРЫН ИМПОРТОД 10 ХУВИЙН ТАРИФ НОГДУУЛАХ ШИЙДВЭР ИРЭХ 7 ХОНОГООС ХЭРЭГЖИНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/18     ӨВӨЛ ЦАХИЛГААН СААТВАЛ ХОТ ДӨРВӨН ЦАГИЙН ДОТОР Л ХӨЛДӨНӨ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/18    

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 hosts historic FIFA Forward Workshop www.fifa.com

A historic FIFA Forward Workshop was held in Ulaanbaatar, Mongolia from 29-30 July, with 11 Member Associations (MAs) from the East and South East Asian region taking part.

The first FIFA event hosted by the Mongolian Football Federation (MFF) since its inception in 1959 saw two days of productive activities, which highlighted the benefits that funding from the FIFA Forward Programme can bring to MAs.

The workshop, divided into several sessions over the two days, included discussions on the first cycle of the FIFA Forward Development Programme, and what the future of FIFA Forward looks like in the 2019-2022 cycle. There was also a case study into the Icelandic Football Association's use of FIFA Forward funds, presented by Geir Thorsteinsson (the former president of the Icelandic FA) and discussions on women's football and how to correctly submit a FIFA Forward application.

“On behalf of the entire Mongolian football family, I very much appreciate the fact that FIFA has decided to organise such a prestigious event in my country," said Ganbaatar Amgalanbaatar, MFF President. "I am also happy that the FIFA Workshop provided very important information on the Forward Development Programme which has really enhanced the development of football throughout the world, including Mongolia.

"The financial support provided to the MFF has enabled us to support our national teams in nine age categories including women’s and futsal. We have also prioritised women’s football as a key goal in our strategic objectives. I would like to end by saying that MFF and FIFA are one team with one goal."

Representing FIFA in Mongolia were Sanjeevan Balasingam, FIFA's Regional MA Director (Asia and Oceania), Daniel O'Toole, from FIFA's Financial Governance Programme, Juerg Nepfer, FIFA's Head of Technical Development Services and Geir Thorsteinsson, member of FIFA's Associations Committee.

Member Associations in attendance

​China PR
Guam
Hong Kong
Japan
Korea Republic
Korea DPR
Macau
Mongolia
Philippines
Thailand
Vietnam
The participants found the workshop useful, and fully appreciated the opportunity to discuss the benefits of the FIFA Forward Programme.

"The HKFA has greatly benefited from this new FIFA initiative – the Forward Development Programme, in recent years," said Vincent Yuen, General Secretary of the Hong Kong FA. "On this occasion we are not only being given the chance to review the whole programme together with FIFA and fellow MAs but also have received information on the enhanced and improved version of the programme. The workshop is entirely enlightening and the interaction is informative. I cannot thank FIFA enough for this."

The workshop stressed the importance of strategic planning for all MAs, making clear that their respective plans would form key priorities to be contained in the Contract of Agreed Objectives (CAOs). The CAOs will be executed along with FIFA for the upcoming cycle (2019-2022) of the FIFA Forward Development Programme.

During the workshop, there were engaging discussions in bilateral meetings between each of the 11 MAs, which focused on the drafting of the CAOs for the 2019-2022 period.

"Continuing on from the 2017 edition of the Forward Workshops, we were able to learn about practices and various experiences of different member associations which was very helpful," said Sean An from the Korean FA. "In particular, Iceland Football Association's case study provided an inspirational and unique insight of how the FIFA Forward can be utilised as a foundation in leaving a legacy."

The workshop in Mongolia is just one of a series of global workshops organised by the FIFA Member Associations Division, to ensure the 211 MAs and six confederations are kept up-to-date on the FIFA Forward Programme.

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ADB Asian Development Bank : Warns About Fundraising Scams in Mongolia www.4-traders.com

ULAANBAATAR, MONGOLIA (2 August 2018) - The Asian Development Bank's (ADB) Office of Anticorruption and Integrity (OAI) advises the public to be aware of scams soliciting money fraudulently and claiming an affiliation with ADB.

The bank is investigating complaints of individuals posing as ADB staff or using ADB office addresses to raise money in exchange for a loan or reward. ADB urges the public not to send banking and personal information to suspicious entities, whether in person or online. If you suspect you have been or are being targeted by scammers, please contact your local law enforcement agency.

As a development institution, ADB does not solicit money from the public, so any claim otherwise-for transaction fees, administration fees, foreign settlement fees, and such-is false. ADB also does not solicit personal information or bank account details in exchange for employment. In addition, ADB never sends official communication from domains other than '@adb.org.'

To report individuals or entities suspected of fraudulent or corrupt practices involving ADB, please contact OAI at integrity@adb.org(link sends e-mail). In addition, all ADB projects and offices can be verified by calling ADB directly using information listed on the following web pages: https://www.adb.org/countries/main or https://www.adb.org/…/beware-business-scams-using-adb-s-name.

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US Steel tumbles as investors seek more from tariff windfall www.bloomberg.com

U.S. Steel Corp. fell the most among peers as a mixed bag of quarterly results left investors wondering if they would see any real benefit from trade policies that have pushed up U.S. prices of the metal.

While the Pittsburgh-based steelmaker raised its 2018 earnings forecast after a better-than-expected second quarter, it gave a third-quarter projection that trails the average analyst estimate and kept dividends unchanged at 5 cents a share.

In a year in which Trump administration tariffs have helped fuel a 40 percent surge in domestic steel prices, U.S. Steel shares have lost ground even as most rival producers gain. The company, which is working to revitalize its aging facilities, has the lowest dividend yield among major rivals.

“Given the amount of cash coming from this company right now, I think people are getting a little impatient,” Seth Rosenfeld, a managing director at Jefferies in London, said by telephone. “If you think the macro economic outlook is untenable and you think demand could suffer because of these trade policies, you’re a lot less patient.”

For the third time in a row, U.S. Steel slumped after delivering earnings. The shares were down 9.8 percent at 11:57 a.m. in New York, heading for the biggest drop since it released first-quarter results.

Concerns about demand growth have been on the minds of investors throughout the earnings season. Caterpillar Inc. shares fell as investors worry that the full brunt of Donald Trump’s trade war is yet to hit the biggest maker of machinery for mining and construction at a time that some end-user industries may be reaching peaks in their growth cycles.

“The biggest risk to the U.S. market is demand begins to weaken, and if that’s the case then people will want to get their cash out beforehand,” Rosenfeld said.

(By Joe Deaux)

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Altansoyombo bag provided with renewable energy www.montsame.mn

Gobi-Altai /MONTSAME/ Operation of solar power station commenced under testing in Altansoyombo bag (smallest administration unit) in Tonkhil soum, Gobi-Altai aimag. Laying its foundation in 2017, Erchim Electrade LLC completed the construction work with investment of MNT 166 million.

Additionally, Gobi-Altai aimag set a goal to provide energy to bag centers including Bayantooroi village of Tsogt soum, Olonbulag bag of Khaliun soum and Khurkhree bag of Chandmani soum to create favorable living conditions to citizens. In 2018, MNT 8.7 billion has been budgeted for energy sector of the aimag and the first works have been carried out successfully.

B.Batchimeg

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Shiveekhuren-Ceke railway to be commissioned in 2019 www.gogo.mn

During its regular session on August 1, the Cabinet instructed relevant ministers to take measures concerning the construction of the 13 kilometer Shiveekhuren-Ceke port railway to be completed by the end of 2019. It was decided that structural construction of the port railway will begin in the third quarter of 2018.

Officials hope that the railway will create new opportunities to export mining products from Nariinsukhait as port entry capacity will increase three-fold and transportation cost will decrease. Currently, coal trucks transport 10 million to 15 million tons of coal through the port annually. It is predicted that this number will rise to 25 million tons once the railway is opened.

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The Central Bank of Mongolia expects to purchase 20% more gold in 2018 www.market-intel.mn

Key event: The Central Bank of Mongolia reported its gold purchases have reached to 8.3 tonnes, up by 14% y-o-y basis, and is further expecting that this year annual purchases will be 20% higher than that of the previous year.

Implications: As set by amendments to the 2014 Mineral Law, the stipulation that gold miners must pay royalties of 2.5% for selling to the central bank will expire on 01 January 2019. Whether it is further extended or not, the gold miners may need to sell their gold before the expiration date in order not to expose themselves to a higher royalty.

Outlook: This year Mongolia’s international reserves and foreign exchange rates are expected to be boosted by the significant gold purchase of the central bank. This is largely thanks to the increased production by gold miners and daily gold purchase rates of the Central Bank which are set to be in line with that of the London Metal Exchange.

It was reported that the Central Bank has delivered their recommendations to the draft revision of the taxation law, proposed by the Ministry of Finance, which includes a recommendation to extend the effective period for the royalty payment of 2.5% for the gold miners who sold their gold to the Central Bank or authorized commercial banks. The expiration date for the current rate is 01 January 2019 and this became effective on 24 January 2014 as per the amendments to the Mineral Law.

Due to the prolonged exchange rate volatility and the prevalence of gold smuggling in Mongolia, the government and the regulators have been subject to fierce criticism and political pressure for a number of years by the business community and the general public.

However, since the amendments to the Mineral Law in 2014, the gold purchase by the Central Bank continuously increased year by year which supported Mongolia’s international reserves and maintained foreign exchange rates until today.

Lately, the Central Bank has been taking various measures to increase gold purchases. Those measures include providing working capital to the gold miners through the “Gold-2” program, buying gold from local producers at the international rate, and running public campaigns such as “From local gold to the National Treasury” to educate stakeholders regarding the importance of selling gold to the central bank.

Additionally, it was reported that the Central Bank is aiming to set up approved gold verifying and buying centers (“Refineries”) locally which would be scattered around the country as branch offices of the Central Bank. It is understood that once those local refineries are established, the local miners will not need to come to Ulaanbaatar to refine and sell their gold. This would save a lot of time and money for the local gold miners and boost the Bank’s gold purchases.

Beyond this, the Mongolian Gold Producers Association is of the opinion that the government should revise its two-tier corporate taxation system if the country of USD 11 billion economy is to support its gold production and boost its international reserves. Currently, Mongolia has a corporate tax rate of 10% for business entities if their taxable income falls below MNT 3 billion, the marginal rate increases to 25% beyond this threshold. The Mongolian gold mining industry believes that the threshold is too low. As it is barely the equivalent of selling 30 kg of gold, the miners are likely to be forced to sell their gold to the Central Bank through individual miners, known as “ninja miners”, in order to reduce their tax burden.

If these regulatory hurdles are not resolved in favor of the gold miners they may face tough legal and market circumstances next year. This could gravely damage Mongolia’s gold industry and international reputation, just as was done by the Windfall Profit Tax Law and, The Law on the Prohibition of Exploration and Mining in Headwaters of Rivers, Protected Water Basins Zones and Forested Areas, also known as “Long Named Law”, in 2006 and 2009 respectively.

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Armed Forces teams partaking in International Army Games www.montsame.mn

Ulaanbaatar /MONTSAME/ The International Army Games which annually organized by the Ministry of Defense of the Russian Federation kicked off on July 28 at Alabino military training ground in the Moscow region.

The Mongolian Armed Forces sent its teams to taking part in the contests of ‘Tank Biathlon’, ‘Field Kitchen’ as well as ‘Sniper’s Frontier’. Some 5000 athletes from 33 countries are participating in 28 events of the competition being held in Russia and six other countries including Belarus, Armenia, Azerbaijan, Iran and Kazakhstan.

The first team of Mongolian armed forces started their competition in events of ‘Tank Biathlon’ and ‘Field Kitchen’ on July 30. The tank team led by first lieutenant R.Ariunbold competing with teams of Venezuela, Laos and Angola completely destroyed its targets in 25 minutes and 10 seconds and led the start.

Currently, Mongolian tankers are at the 8th place and the second team will compete on August 3 with the teams of Venezuela and Laos as well.

B.Batchimeg

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Baby from Mongolia to get life-saving surgery in Denver www.kdvr.com

DENVER -- This week a 10-month-old baby girl from Mongolia will get life-saving, open-heart surgery at Rocky Mountain Hospital for Children. It’s a surgery that is not available in her home country.

Samaritan’s Purse, an international relief organization, paid for the transportation.

Now Sarana, her mother and an interpreter are staying with a host family in Colorado and meeting with doctors.

Speaking through an interpreter, the mother, Narangarav Munkhtuya, says that Sarana has a difficult time breathing. “She sweats a lot and cries,” she says.

Dr. Steve Leonard, a pediatric cardiac surgeon, says Sarana has a heart defect.

There’s a hole in her heart that results in excessive blood flow to the lungs and creates congestive heart failure. But at this age, surgery can correct the problem. “It will completely take care of her cardiac issue, and she will go home and live a normal life,” Dr. Leonard said.

The care, which will cost more than $100,000, is pro bono.

It’s an emotional time for the family. The mother says she is grateful, and full of hope.

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Alibaba, Starbucks team up for strategic partnership www.chinadaily.com.cn

China's e-commerce behemoth Alibaba Group Holding Ltd and global coffee giant Starbucks announced on Thursday a deep, strategic new retail partnership to transform the country's coffee industry.

The relationship, which goes far beyond previous media reports of Starbucks coffee delivery, involves collaboration across key businesses within the Alibaba ecosystem, including Ele.me, Hema, Tmall, Taobao and Alipay, according to Alibaba's press release.

Pilot coffee delivery services will be launched in mid-September in 300 stores in Beijing and Shanghai via Alibaba's online food delivery arm Ele.me and are expected to expand to more than 2,000 Starbucks stores across 30 cities by the end of this year.

In addition, Alibaba's fresh food chain Hema Supermarkets will pilot the first brand delivery kitchen for Starbucks in selected stores in Shanghai and Hangzhou as soon as September 2018.

"This partnership is a testament to the success of our new retail strategy," said Zhang Yong, CEO of Alibaba Group

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Date of Irregular Session of Parliament not set www.zgm.mn

Head of Parliament Secretariat Tsolmon Tsedev informed that the Speaker expressed his support for summoning the Irregular Session during a meeting on July 30. A number of MPs confirmed to ZGM on Tuesday that the Secretariat contacted them to check their availability. It revealed that many of the MPs are on local and international assignments, therefore unable to participate in the irregular session, if summoned. According to the Law on Parliament, more than half of the members need to be available for the Parliament to convene. Currently, there are 75 members in the Parliament after Gantulga Dugar resigned. This makes the number of members that need to be available 38. Considering that 26 MPs signed a petition to summon the Irregular Session of Parliament, the Parliament’s Secretariat need only a dozen more members to summon the session.

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