1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      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     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     МАНАЙ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛ ДЭЭШИЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/16     “ЭРДЭНЭС-ТАВАНТОЛГОЙ” 40 САЯ ДАХЬ ТОНН НҮҮРСЭЭ ОЛБОРЛОЖЭЭ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/07/16    

Events

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

NEWS

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Erdenet Mining Corporation named Best Business of 2016 www.montsame.mn

Ulaanbaatar /MONTSAME/ “Corporate sector produces 80 percent of GDP, providing 90 percent of jobs on the national level”, remarked Prime Minister J.Erdenebat during a ceremony to award the best 100 Businesses of 2016 hosted in State House on April 27, Thursday.

National copper mine Erdenet Mining Corporation led the 2016 list of Top Businesses, to be followed by Oyu Tolgoi LLC, Khan Bank, Trade and Development Bank, NIK LLC, XacBank, APU Trading, State Bank, Golomt Bank and Mobicom Corporation for the leading spots.

“The 100 companies that have led the corporate sector in 2016 constitute more than half of tax revenue”, the Prime Minister added, congratulating the leading businesses on their growth and accomplishments of last year.

In his speech, the Prime Minister reiterated that his Cabinet strives to improve business environment, talking about the crucial role of cooperation between government and private sector in stimulating a pleasant business environment and adopting and promoting ideal corporate management and governance.

“The private sector in Mongolia has progressed over the last 20 years to stand firmly on its feet, yet there is always room for improvement and correction of mistakes”, Prime Minister J.Erdenebat noted. “Government and private sector share a same road which should lead Mongolia to a better future; thus, we need to join efforts effectively”.
Kh.Aminaa

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Mongolian senior invited to Queen Elizabeth’s birthday www.montsame.mn

Ulaanbaatar /MONTSAME/ Senior citizen of Mongolia Ts.Tsesendolgor has been invited to the birthday celebration of the Queen Elizabeth II of the United Kingdom, which will be held on June 17. Mrs. Ts.Tsesendolgor was chosen to be invited through application “what3words” and the Permanent Under-Secretary of State for Foreign and Commonwealth Affairs Simon McDonald and Ambassador of the UK to Mongolia Catherine Arnold handed over the invitation letter to Mrs Ts.Tsesendolgor on April 27, visiting her home in Khan-Uul district of Ulaanbaatar.
The Queen celebrates two birthdays every year: her actual birthday falls on 21 April and her official birthday on the second Saturday of June.

B.Ooluun

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China Unicom to cut roaming charges along Belt and Road www.chinadaily.com.cn

TIANJIN - Telecom giant China Unicom will lower international roaming charges in countries and regions along the Belt and Road starting May 1.

 
Roaming fees for calls made by China Unicom users will fall by an average 52 percent in 17 countries and regions, while data roaming fees will fall by an average 75 percent in 19 countries and regions.
 
The Belt and Road Initiative proposed by China in 2013 consists of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road. It aims to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond ancient Silk Road trade routes.
 
Earlier this week, China Mobile, the country's leading telecom services provider, announced that it would lower roaming charges in 64 countries and regions along the Belt and Road starting May 1.
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Google becomes first foreign tech firm to set up shop in Cuba www.rt.com

 
US technology monolith Google has started running servers in Cuba, becoming the first international content provider in one of the world's least connected countries.
The local data center opened by Google will hold information such as YouTube videos for streaming rather than having to connect through the long submarine cable that links the country to the internet.
The move provides Cubans with an opportunity to access the web through the nearest Google server in their country.
“I think this will be very noticeable for Cubans. The internet in Cuba will still be a painfully slow process. This is just another somewhat rare step forward. For Google services, which will be hosted in the country, it will be a milestone,” said Doug Madory, director of internet analysis at the global internet monitoring company Dyn.
Even with the changing political landscape and more openness in Cuba, the country still has the lowest level of internet connectivity in the western hemisphere.
Most people can only log on to the internet through 240 public access Wi-Fi hotspots dotted around the country. An hour of internet time costs around $1.50. That is almost unaffordable for the majority of Cubans, whose average salary is about $25 per month.
The Cuban government’s monopoly telecom Etecsa has recently started a pilot program providing internet connections to 2,000 homes. However, as soon as the pilot is over, Cubans will have to pay $15 for 30 hours of internet at a slow speed of 128 kilobytes per second.
Google admits the move to localize the servers will not have any visible impact on the situation with no increase in internet access for an average Cuban.
“Cubans who already have access to the internet and want to use our services can expect to see an improvement in terms of quality of service and reduced latency for cached content,” Google executives wrote in a blog shortly after the deal between Havana and the tech giant was signed.
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Samsung flags record profits despite Galaxy Note fiasco & corruption probe www.rt.com

 
Despite the Galaxy Note 7 debacle and company head in jail on corruption charges, Samsung Electronics reported its best quarter profits in more than three years.
The primary boost to the results came from the robust performance of the South Korean company’s chip business.
Samsung’s operating profit jumped 48 percent to 9.9 trillion won ($8.73 billion) matching the company's earlier guidance. Revenue grew two percent to 50.5 trillion won ($45.53 billion).
Asia's most valuable company by market capitalization said that expects a further increase in memory chip orders and growth in earnings from the phone business.
Samsung has refused to adopt a holding company structure, rejecting calls from US activist hedge fund Elliott Management to split itself in two, but accepted part of the fund's proposals.
“Samsung concluded the risks and the challenging environment surrounding a change in the corporate structure would not be beneficial for enhancing shareholder value and sustaining long-term business growth,” the company statement reads.
The South Korean multinational also announced a share buyback worth 2.3 trillion won ($2.03 billion).
Pre-orders for the Galaxy S8 smartphone launched earlier this month managed to beat analysts’ expectations. That raises hopes the corporation could make up for the misstep and the mammoth recall of the fire-prone Galaxy Note 7s last year.
Last October, Samsung ended the troubled smartphone following the recall of 2.5 million handsets. The firm’s mobile branch reported a smaller operating profit of 2.07 trillion won ($1.83 billion), down from 3.89 trillion won ($3.43 billion) a year earlier.
“Looking ahead to the second quarter, the company expects to achieve growth on the back of continued robust memory performance together with improved earnings from the mobile business following the global rollout of the Galaxy S8 and S8+,” Samsung said in a statement.
Despite the solid earnings, the company remains involved in a scandal, with chief Jay Y. Lee currently on trial for alleged participation in a corruption case that brought down South Korean President Park Geun-hye. Lee denies the charges that include bribery and embezzlement.
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United Airlines reaches settlement with passenger dragged from plane www.reuters.com

United Airlines (UAL.N) and the passenger who was dragged from a Chicago flight earlier this month have reached a settlement for an undisclosed sum, they said on Thursday, in the carrier's latest step to contain damage from an incident that sparked international outrage.

Viral videos of Dr. David Dao being dragged down the aisle of a United jet and Chief Executive Oscar Munoz's handling of the incident touched off a public outcry, prompted calls from congressmen for new industry regulation, and led United's board of directors to reverse an agreement to make Munoz company chairman in 2018.

United said earlier on Thursday that it would offer passengers who give up their seats up to $10,000, reduce overbooking of flights and no longer call on law enforcement officers to deny ticketed passengers their seats.

Southwest Airlines also said on Thursday that it would end overbooking of flights.

Dao, a 69-year-old Vietnamese-American doctor, was injured when Chicago aviation police removed him from his seat and then dragged him from the plane to make space for four crew members on the flight from O'Hare International Airport to Louisville, Kentucky.

United has taken "full responsibility for what happened on Flight 3411, without attempting to blame others, including the City of Chicago," Thomas Demetrio, an attorney for Dao, said in a statement.

Demetrio said there was no need to proceed with separate litigation against the city. Republic Airways, United's regional partner which operated the flight that Dao was on, has also been released from responsibility as part of the settlement, Demetrio's office said.

Chicago Mayor Rahm Emanuel's office declined to comment on the settlement.

The three Chicago Department of Aviation officers who pulled Dao off the plane and a supervisor involved in the incident remain on paid leave, said Chicago Department of Aviation spokesman Karen Pride, who declined to comment on the settlement.

United said in a separate statement that it was pleased to reach "an amicable resolution of the unfortunate incident that occurred aboard flight 3411."

"We look forward to implementing the improvements we have announced, which will put our customers at the center of everything we do," the airline said.

Munoz stressed that point in a letter sent on Thursday to customers, saying the airline would increase its focus on their satisfaction.

"We can never say we are sorry enough for what occurred, but we also know meaningful actions will speak louder than words," he said.

Separately, officials at 10 of the busiest U.S. airports said their rules prevent security officers from physically removing passengers from airplanes unless a crime is committed.

(Reporting by Timothy Mclaughlin in Chicago; Additional reporting by David Shepardson in Washington; Editing by Richard Chang)

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Brexit not deterring Asian investors from UK property market www.bbc.com

Investing in property is a mainstay of most Asian portfolios and the UK has typically been among the most desirable of destinations.
Recent data suggests that despite the uncertainty created by Brexit and the upcoming general election, Asian investors are flocking to the UK's shores more than ever before.
Research from property investment firm JLL indicates that Asian investors accounted for 28% of the transactions in the UK property market in 2016, up from the 17% the year before.
London in particular continues to be a strong attraction, especially for Asian families who have long had a link to the city.
Pamela Kirpalani's family is originally from India, but she now lives and works in Singapore and runs her own training consultancy, Singapore Inner High Living. Her family are long time investors in the UK property market.
'London is London'
"London for us will always be a safe haven," she told me.
"Our families are spread across India and Singapore and eventually we would like our kids to go to college [in the UK]."
Pamela's family has recently bought their third place in the heart of the city.
"London is London," she said. "Even with the panic of Brexit, and things go up and down in the economy, property prices in the centre of London just always bounce back. So you just can't go wrong with that kind of investment."
It's investors like Pamela that led Manchester-based Select Property to set up an office in Singapore in 2015.
Elliot Vure is the Asia sales manager for the firm. He showed me a model of the latest development - Affinity Living - that the company is building in Manchester, and selling in Asia. On average one of the flats in the building costs about £275,000.
"We've probably seen 30% to 40% of the development being sold to Asian investors," he told me as we toured the firm's offices in Singapore.

Mr Vure added that there's a unique aspect to the way Asians buy their property in comparison to other buyers.
"The vast majority of almost all of the investors in this region are cash purchasers. There's no real desire to get a mortgage," he said.
"People in the UK look for financing and a mortgage, but in Asia it seems to be the opposite."
A lot of that wealth is coming from China, which has been one of the biggest buyers of UK property in the last year, buoyed by the weaker pound in the wake of the uncertainty caused by Brexit.
According to Juwai.com, which calls itself China's leading international property portal, growth in the enquiries into UK property in the last 12 months has jumped 60%, and Chinese buyers are increasingly interested to the UK.
"A lot of our buyers are the average Chinese mom and pop looking to invest overseas," Sue Jong, the chief operating officer of Juwai.com told me.
"The large portion is the middle to upper middle class, that's interested in a good stable investment and may be thinking about emigrating or sending their kids to school there."
The demand for property amongst Asian investors has convinced many that this is a market worth expanding in.

Asian investors have not been deterred by the prospect of Brexit
But it's not just physical properties that Asians may be interested in buying.
Prop-X is a property exchange launching later this year, offering Asian investors a shot at owning a share of a property, without so many of the risks.
"What seems to be a fundamental part of the culture is that Asian investors have had a preference for investing in bricks and mortar," chief executive Rohin Modasia told me.
"It's a long standing trend. Post the global financial crisis, the UK has performed pretty well. And Asian investors now are more willing to say I've seen it happen, I've seen my friends do it, and I'm keen to get in on the action."
By some estimates, two thirds of the global middle class by 2030 will be living in Asia. They've been the driving force behind investor appetite in global real estate markets, including the UK's.
As Asia's middle classes get richer and more aspirational, that appetite is only likely to grow.

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Mongolian media goes dark to protest press freedom threat www.dnaindia.com

 
Blank screens and red text warning about threats to press freedom interrupted Mongolian television late on Wednesday to protest against legal changes media groups say could harshly punish journalists accused of defamation ahead of elections.
 
With just three million people, Mongolia, best known as the birthplace of the Mongol emperor Genghis Khan, has long stood as an oasis of democracy, sandwiched between autocratic giant neighbours China and Russia.
 
Mongolia's political transformation since a peaceful revolution in 1990 has been a big plus for foreign investors eyeing its rich mineral resources.
 
But with presidential elections in June, rights groups and journalists have expressed concern the government is using increasingly heavy-handed tactics to suppress media and stifle dissent, including jailing reporters.
 
The government denies seeking to muzzle the press, saying the country is a democracy that values the freedom of the media.
 
But this week, parliament is due to debate law amendments that could impose large fines on reporters accused of defamation, in what media groups say amounts to a threat to make them stop reporting on issues like rampant corruption.
 
More than a dozen Mongolian television stations went dark for about one hour on Wednesday evening, some carrying only the text "Your right to know is under threat".
 
On Thursday, one of the country's largest newspapers, Unuudur, carried the same message on its front page.
 
Hashhuu Naranjargal, president of the civil-society group Globe International in Mongolia, said media outlets could face penalties of up to 200 million tugrik ($82,850) for violations under the amendments, while individual journalists and social media users could be fined 2 million tugrik ($828) each.
 
The fines were a form of "economic censorship", said Naranjargal, that politicians might abuse to protect themselves.
 
"The general political atmosphere is very negative about the protection of journalists," Naranjargal said.
 
"They just want to prevent negative information about themselves," she said about politicians.
 
Batbold Chimgee, a journalist for the website GoGo.mn, said the government had abused the libel law in the past to censor reporters.
 
She said the 2 million tugrik fine was equivalent to three months salary for many journalists.
 
"It's big money for journalists because Mongolian journalists don't make much money."
 
 
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Mongolia-China infrastructure cooperation matters discussed in Beijing www.vom.mn

A council meeting of mineral, energy and infrastructure cooperation between Mongolia and the People's Republic of China was held in Beijing.
 
Mongolia-China infrastructure cooperation matters discussed in Beijing. A council meeting of mineral, energy and infrastructure cooperation between Mongolia and the People's Republic of China was held in Beijing. Developing friendly relations and cooperation with the People’s Republic of China is one of the priorities of Mongolia as stated in the Foreign Policy Concept document. The meeting attached great impetus to the development of mining, mineral, energy, and infrastructure industries of Mongolia. In particular, the meeting agenda included issues of cooperation with China on major projects, such as the development of Tavan Tolgoi and Shivee Ovoo coal deposits and railway, coal gasification, and copper smelting plants as well as of increasing investment from China. Prior to the meeting, the Mongolian delegates met with representatives of the National Development and Reform Commission of China and exchanged views on the bilateral cooperation in the mining, mineral, energy, and infrastructure sectors.
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Online platform for interbank currency exchange launched www.vom.mn

 
Bloomberg L.P., beta version of the platform was released in collaboration with the Bank of Mongolia.
 
Online platform for interbank currency exchange is launched. Bloomberg L.P., beta version of the platform was released in collaboration with the Bank of Mongolia. The online platform for currency exchange was adapted in compliance with the general guidelines on state monetary policy approved by Mongolian Parliament last year, which set out to develop currency and financial market infrastructure. Commercial banks, entities and individuals will be able to include their preference for the online platform through their corresponding banks. The online platform will reduce payment and information risks of inter-bank currencies, set spot prices, increase accessibility and transparency of financial market, help the Bank of Mongolia to fast receive information, get involved in the market, if necessary and to establish a foundation for a joint currency exchange platform. The trade information of the online platform will be available on the Bloomberg terminal as “MGRR”.
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