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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P.Gankhuu appointed Erdenes Mongol LLC CEO www.montsame.mn

Ulaanbaatar /MONTSAME/ The Board Meeting of ‘Erdenes Mongol’ LLC made a decision on May 16 to appoint former Energy Minister P.Gankhuu as CEO of ‘Erdenes Mongol’ LLC, dismissing Ts.Tumentsogt.

P.Gankhuu holds Master's degrees in economics from Sydney University and Senshu University of Japan. Previously, he worked as Minister of Energy in 2016-2017, Head of a Department of the Ministry and served as an acting chairman of Energy Authority.

B.Batchimeg

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Over 8600 hectare area to be allocated for free ownership of citizens this year www.montsame.mn

Ulaanbaatar/MONTSAME/ At its regular meeting on May 16, the Cabinet approved ‘The total size, locations and purposes of the land to be owned by citizens in 2018’ based on proposals of the Citizens’ Representatives Meetings of aimags and Ulaanbaatar city.

The Citizens’ Representatives Meetings of aimags and Ulaanbaatar city submitted a proposal on allocating 8605 hectare area free for ownership with purpose of family needs and 30 hectare area for business purpose. Eight percent of the land to be owned for business purpose will be allocated for cropping potato and vegetables whilst 92 percent will be allocated for other purposes except farming.

M.Unurzul

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Financial difficulties of Baganuur and Shivee-Ovoo companies to be resolved www.montsame.mn

Ulaanbaatar/MONTSAME/ At its regular meeting on May 16, the Cabinet made a decision to study a possibility to count loan of MNT110.7 billion, issued from the World Bank and Japanese Government to the Mongolian government, as investment to the coal mines Baganuur and Shivee-Ovoo.

It was decided to scrutinize estimations of the investment required to secure constant operations of Baganuur and Shivee Ovoo companies and expand their capacities with technical modernizations, and resolve the financial sources within next month.

The Cabinet obliged the Board of Directors of ‘Erdenes Mongol’ LLC and ‘Erdenes Tavan Tolgoi’ JSC to settle short-term payables of Baganuur and Shivee-Ovoo companies by June 1 with their internal resources, and corresponding minister to take stage by stage measures to increase the coal price to its actual cost.

Certain measures will be also taken to increase profitability of the companies, reduce production costs and improve its management.
M.Unurzul

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Mongolia’s fruit production covers only 1.5 percent of domestic demand www.ubinfo.mn

After having commissioned the Elbeg Urgats greenhouse farm in 2012, Munkh Nogoon Tal LL C is currently running a winter and summer greenhouse farming in Bayantsogt soum of Tuv aimag. The company is cultivating Holland strawberry in 4 thousand square meters of glasshouse and started experimenting cultivation of red and black raspberries this year.

In 2017, Munkh Nogoon Tal LL C yielded 5 thousand kilograms of strawberry and this year the company plans to increase its yield up to 8 thousand kilograms. The strawberry is planted in soil and hydroponically.

Moreover, Nogoon Sor LLC has been cultivating strawberry, watermelon and grape since 2009. In 2017, Nogoon Sor LL C harvested 20 tons of strawberry; however, due to technical problems, strawberry yield is expected to drop to 12 tons. Last year, the company harvested 24 tons of watermelon and is now expecting 35 tons of watermelon. Nogoon Sor LLC has been experimenting to plant peach since 2015 and plans to cultivate more fruits in the future.

Since 2005, Atriin Shim LL C has been cultivating four types of fruit in greenhouse. In 2017, the company harvested over 20 tons of fruit and expects 30 tons this year. The company has greenhouses in Sergelen soum of Tuv aimag and 40 percent of the greenhouses is dedicated to fruit and other 60 percent are for vegetables.

According to the Mongolian Federation of Greenhouse Farming, Mongolia imports 18-22 thousand tons of fruit annually. Each year, Mongolia produces over 2560 tons and 10 types of fruit, of which almost 92 percent of the entire production comes from sea buckthorn. However, this only covers 1.5 percent of domestic fruit demand.

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Trump talks trade with China as project linked to his company gets Chinese business www.cnn.com

President Donald Trump is negotiating with China on trade while the Trump Organization is involved in a deal linked to a Chinese developer.
A state-owned Chinese construction company, MCC Group, said last Thursday it had formalized plans to develop a theme park in Lido, Indonesia. The park is part of a broader project called MNC Lido City, and the Trump Organization has existing licensing agreements for other components of the project.

The Trump Organization in 2015 said it would partner with MNC Land, the Indonesian developer in charge of the project, to put the Trump name on a golf course, luxury hotel and residential development on the premises.
The company said on Tuesday its licensing deals are separate from the China-backed development of the theme park.

"The theme park project is wholly owned by MNC Land and has no relationship to the Trump Organization," the company said in a statement. "MNC Land's relationship with the Trump Organization consists of management agreements that were signed in 2015 for luxury hospitality and residential projects owned by MNC Land at MNC Lido City and MNC Bali Resort." (The Trump Organization also partnered with MNC on a resort in Bali, Indonesia.)

When asked for comment, MNC provided the same statement as the Trump Organization.

China's commitment to the Indonesian project comes as Trump and his administration are engaged in high-stakes talks with Beijing on trade.

On Sunday, in a move that surprised many, the president tweeted that he's working with Chinese President Xi Jinping to help Chinese state-controlled phone and telecom equipment maker ZTE get back into business, adding the "Commerce Department has been instructed to get it done!"

ZTE (ZTCOF) said last week that it halted its main operations after the Trump administration banned American companies from selling it vital components.

Negotiations are ongoing, Trump said Tuesday morning. Chinese Vice Premier Liu He is scheduled to be in Washington Tuesday through Saturday for a second round of trade talks amid escalating threats of sanctions.

Trump isn't in charge of the Trump Organization anymore, but he has not sold his ownership stake in the company. His sons, Donald Jr. and Eric, took the reins of the company after their father took office and stepped away from his business empire.

But ethics experts have questioned how effective Trump has been in separating himself from his businesses and potential conflicts of interest.

"He hasn't done what everybody else did for 40 years — Republicans and Democrats — and set up a blind trust," said Norm Eisen, the former ethics chief for President Barack Obama and a CNN contributor. "He's simply maintained ownership of his properties."

(Eisen is involved in lawsuits against Trump alleging that the president's acceptance of payments and other benefits from foreign governments is in violation of the Constitution.)

A Chinese construction company has formalized plans to develop the theme park, which is part of a project for which the Trump Organization has licensing agreements.
The Trump Organization has been involved in the Lido project, which is less than 50 miles from Jakarta, since at least 2015. The company reported income from the partnership in 2016 and 2017.

"Trump Hotel Development is involved in the master plan of this spectacular development, which will include the first Trump golf course in Asia as well as a world-class spa, luxurious hotel and residences," Donald Trump Jr., said in a statement in September 2015.

In the same press release, MNC CEO Hary Tanoesoedibjo touted what he called an "integrated lifestyle resort destination," and noted MNC's plans to develop Indonesia's first "world-class" theme park in addition to the Trump luxury properties.

In June 2016, MNC said that it had secured an agreement with the Chinese construction firm, MCC, to design and build "a world-class integrated theme park resort in Lido."

Last week, MCC said that subsidiary China Jingye had finalized the deal.

China's interest in building the theme park is connected to its One Belt, One Road initiative, which seeks to expand China's international footprint by pumping hundreds of billions of dollars into railways, roads, ports and other projects across Asia, Africa and Europe.

MCC did not immediately respond to a request for comment on Tuesday about the deal, or whether the timing is related to negotiations with Trump on trade.

-- CNN's Cristina Alesci, Melanie Schuman, Laura Dolan and Ivan Watson contributed to this report.

CNNMoney (New York)
First published May 15, 2018: 10:11 PM ET

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Tuvan delegation visits Mongolia to strengthen bilateral cooperation www.theubpost.mn

During his visit to Mongolia, Chairman of the Government of Russia’s Tuva Republic Sholban Kara-ool was received President Kh.Battulga on Monday at the State Palace to discuss relations and cooperation between Mongolia and Tuva.

Kara-ool pointed out that Tuva is interested in strengthening bilateral relations in roads and transportation, trade and economic cooperation.

During the meeting, the sides exchanged views on an ongoing project to build a railway connecting Kyzyl, the capital of Tuva, with Tsagaan Tolgoi port at the Mongolian and Russian border, which was agreed to become the northern part of the railway corridor during the Eastern Economic Forum held in Vladivostok, Russia in September 2017.

The parties unanimously agreed that the two nations should strengthen regional and mutually beneficial cooperation, and promote business and people-to-people relations.

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Minister D.Tsogtbaatar met with U.S non government and private sector representatives operating in Mongolia www.mfa.gov.mn

On May 11th, 2018 H.E. Mr. D.Tsogtbaatar, Minister for Foreign Affairs of Mongolia met with country directors and representatives of U.S Peace Corps, the Asia Foundation, the International Republican Institute, the American Chamber of Commerce in Mongolia, the World Learning and the Mercy Corps. Chargé d’Affaires a.i. Mr. Manuel P. Micaller of the U.S Embassy in Ulaanbaatar was also present at the meeting.

During the meeting organizations have introduced the current works they are implementing and the works they are planning to implement in Mongolia. Minister D.Tsogtbaatar noted that the relations between the two countries should not only be an intergovernmental partnership, but also a broader humanitarian relationship between the two people. In this context, the activities of the organizations contribute in enriching the bilateral relations between Mongolia and the U.S and the Minister thanked the organizations for their contribution to Mongolia’s socio-economic development.

The two sides exchanged views on supporting volunteerism in Mongolia, continuing the “LEAD Mongolia” program, expanding the private sector cooperation between the two countries, implementation of beef export promotion project and other potentials and new opportunities of cooperation. The two governments expressed their support and willingness to cooperate within these works.

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Mongolian Foreign Minister to visit Russia www.news.mn

D.Tsogtbaatar, Minister of Foreign Affairs of Mongolia is to visit the Russian Federation on 16-17 May at the invitation of his Russian counterpart Sergey Lavrov.

During the visit, the Foreign Affairs Minister is expected to hold talks with senior Russian officials and exchange information on the implementation of the Mongolia-Russia Medium-Term Strategic Partnership Programme.

In addition, the two sides will discuss a wide range of issues including deepening bilateral cooperation in the areas of trade, economy and investment, as well as intensifying trilateral cooperation between Mongolia-Russia-China and studying possibilities for starting cooperation between Mongolia and the Eurasian Economic Union.

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Statistical review for mining sector introduced www.montsame.mn

Ulaanbaatar/MONTSAME/ On May 15, the Ministry of Mining and Heavy Industry called its regular press briefing ‘Transparent and Accountable Mining’. At the press conference, the Mining and Heavy Industry Minister D.Sumiyabazar briefed about first four months’ statistical review of the sector.

According to the first four months of 2018, gross production of industrial sector reached MNT 4.5 trillion, with an increase of MNT798.8 billion (21.5 percent) as compared with the same period of the previous year.

The production of mining and extractive industries increased by MNT567.9 billion (21.0 percent), which was mainly influenced by the increase of extractions of coal (35.4 percent) and metal ores (14.6 percent). Extractive industry makes up 72.3 percent in the gross production of industrial sector.

Major commodities of mining and extractive industries include 14.9 million tons of coal, 445.4 thousand tons of copper concentrate, 2.9 tons of gold, 1.8 thousand tons of molybdenum concentrate, 1.0 million tons of iron ore concentrate, 21.3 thousand tons of spar concentrate, 30.0 thousand tons of zinc concentrate, 2.3 million barrels of oil and 4.8 thousand tons of copper cathode.

As of the first four months of the year, the sector accumulated MNT694.8 billion to the state budget as taxes, fees and royalties. MNT 11.5 billion was accumulated from gold mining, MNT 255.8 billion--from coal, MNT 37.7 billion -- zinc, MNT 352.0 billion --copper, MNT 8.3 billion --iron, MNT 4.6 billion --fluorspar and MNT 25.0 billion from others. The income accumulated to the state budget increased by MNT 229.8 billion or 1.5 times, compared to the same period of the previous year.

In 2018, it is planned to extract 8.1 million barrel or 1.1 million tons of oil, accumulating MNT223.4 billion at the state budget. As of May 11, it has extracted 2.44 million barrel or 310 thousand tons of oil, with a 30.16 percent fulfillment of the plan. Moreover, 2.38 million barrel or 300 thousand tons oil were exported. As of April 30, the oil export brought MNT73.4 billion to the state budget.

M.Unurzul

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ADB financing to Mongolia totals over 2 billion USD www.theubpost.mn

The Mongolian government has been working closely with ADB since 1991. Over the past 17 years, Mongolia received 2.34 billion USD from ADB, according to Raushan Mamatkulov, the head of the Project Administration Unit at the ADB Mongolia Resident Mission. This is equivalent to 0.07 percent of ADB’s overall operation costs.

ADB operations in 67 countries, 48 in the Asia Pacific region, totaled 32.2 billion USD, including 11.9 billion USD in co-financing, last year.

As of March 31, 2018, the Mongolian government received 2.14 billion USD in loans (58 concessional loans and 14 ordinary capital resources), 103.8 million USD through 107 technical assistance and grants, 101.6 million USD in project and technical assistance co-financing, 94.5 million USD in non-sovereign loans (four loans), and 101.5 million USD in grant funding from the Japan Fund for Poverty Reduction.

To date, 38 loans and grants have been distributed to Mongolia through 29 projects with the total net amount of 1.15 billion USD. Currently, there are 43 ongoing technical assistance, 14 of which were approved in 2017. These assistances are worth 9.7 million USD. The total value of all ongoing technical assistance amount to 42.92 million USD and if we look closer at their allocation, 24 of them are for capacity building, 11 for project preparatory, seven for policy advisory, and one for regional technical assistance.
Loans and Grants approved in 2017

Last year, ADB projected almost 400 million USD for six new and ongoing projects.

No Project Name Amount (million USD) Source
1 Social Welfare Support Program, Phase II (PBL) 150.0 OCR
2 Banking Sector Rehabilitation and Financial Stability Strengthening Program 100.0 OCR
3 Ulaanbaatar Urban Services and Ger Areas Development Investment Program (Tranche-2) 67.85 OCR
4 Sustaining Access to and Quality of Education During Economic Difficulties Project 50.0 COL
5 Ensuring Inclusiveness and Service Delivery for Persons with Disabilities Project 25.0 COL
6 Community Vegetable Farming for Livelihood Improvement 3.0 JFPR
7 Ensuring Inclusiveness and Service Delivery for Persons with Disabilities 2.0 JFPR
TOTAL: 397.85 
OCR = ordinary capital resources, COL = concessional OCR lending, JFPR = Japan Fund for Poverty Reduction, PBL = policy-based loan

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