1 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      2 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      3 AIRBNB IS USING WHAT3WORDS TO LIST STAYS WITH MONGOLIAN NOMADS WWW.TECHCRUNCH.COM PUBLISHED:2018/11/20      4 LOCAL PRECIOUS METAL ASSAY LABORATORY PURIFIES 99 KG OF GOLD WWW.MONTSAME.MN PUBLISHED:2018/11/20      5 LEGISLATOR OF MONGOLIA'S RULING PARTY SUBMITS PROPOSAL ON DISMISSING GOVERNMENT WWW.XINHUANET.COM PUBLISHED:2018/11/20      6 SHOCK DECISION: CHINA CLOSES BORDER TO COAL IMPORTS FROM MONGOLIA WWW.NEWS.MN PUBLISHED:2018/11/20      7 STRATEGY INTRODUCED TO FOSTER PRIVATE SECTOR IN WESTERN MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      8 MONGOLIA TO STRENGTHEN ECONOMIC TIES WITH RUSSIA WWW.XINHUANET.COM PUBLISHED:2018/11/19      9 VOLKSWAGEN TO SPEND $50 BILLION ON ELECTRIC CAR 'OFFENSIVE' WWW.CNN.COM PUBLISHED:2018/11/19      10 HABITABILITY OF MONGOLIA UNDER THREAT FROM CLIMATE CHANGE WWW.ADELAIDENOW.COM.AU PUBLISHED:2018/11/19      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     ХАЙНАНЬД ЗУГААЛАХ ГЭСЭН МОНГОЛЧУУД УЛААН-ҮҮДЭЭС НИСЭХ ТАСАЛБАРЫГ ХУУ ХАМЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/20     ГАШУУНСУХАЙТ БООМТ: ЖОЛООЧ НАРЫН МЭДЭЭЛЛИЙГ УРЬДЧИЛАН ЯВУУЛАХ БАЙДЛААР АСУУДЛЫГ ШИЙДВЭРЛЭХЭЭР БНХАУ-ТАЙ ТОХИРОЛЦЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     ЗАМЫН НӨХӨӨС, 100 ГАРУЙ ТӨРЛИЙН РЕЗИНЭН БҮТЭЭГДЭХҮҮН ДОТООДОД ҮЙЛДВЭРЛЭЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20     АЛТНЫ ОЛБОРЛОЛТ ЭДИЙН ЗАСГИЙГ ДЭМЖИЖ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛЫН АНХНЫ ХУВИЙН ХӨРӨНГИЙН БИРЖИЙН ХОЁР ДАХЬ БҮТЭЭГДЭХҮҮН: “ПАРК ТАУН” БОНД WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛ, ОХУ-ЫН ТЭЭВРИЙН САЛБАРЫН ХАМТЫН АЖИЛЛАГААГ ӨРГӨЖҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/20     БНХАУ-ЫН ОЛОН УЛСЫН ИМПОРТЫН ҮЗЭСГЭЛЭН БНХАУ-ОХУ-ЫН БИЗНЕСИЙН ХАРИЛЦААГ ӨРГӨЖҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/19     АМЧАМ МОНГОЛ 2018 ОНЫ ЖИЛИЙН ТАЙЛАНГИЙН ХУРЛАА АМЖИЛТТАЙ ЗОХИОН БАЙГУУЛЛАА WWW.IKON.MN НИЙТЭЛСЭН:2018/11/19    

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's first floating wind farm emerges off coast of Scotland www.bbc.com

 
The world's first full-scale floating wind farm has started to take shape off the north-east coast of Scotland.
The revolutionary technology will allow wind power to be harvested in waters too deep for the current conventional bottom-standing turbines used.
The Peterhead wind farm, known as Hywind, is a trial which will bring power to 20,000 homes.
Manufacturer Statoil says output from the turbines is expected to equal or surpass generation from current ones.
It hopes to cash in on a boom in the technology, especially in Japan and the West coast of the US, where waters are deep.
"This is a tech development project to ensure it's working in open sea conditions. It's a game-changer for floating wind power and we are sure it will help bring costs down," said Leif Delp, project director for Hywind.
The huge turbines are currently being moved into place
So far, one giant turbine has already been moved into place, while four more wait in readiness in a Norwegian fjord.
By the end of the month they'll all have been towed to 15 miles off Peterhead, Aberdeenshire, where they'll float upright like giant fishing floats.
While the turbines are currently very expensive to make, Statoil believes that in the future it will be able to dramatically reduce costs in the same way that manufacturers already have for conventional offshore turbines.
"I think eventually we will see floating wind farms compete without subsidy - but to do that we need to get building at scale," said Mr Delp.
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Federal Reserve now faces prospect of global monetary policy tightening www.reuters.com

 
WASHINGTON (Reuters) - Prospects for tighter monetary policy in Europe and other countries could pose a fresh problem for the Federal Reserve when it meets next week to ponder its plan to reduce its $4.2 trillion bond portfolio purchased after the 2008 financial crisis.
 
The Fed bought U.S. Treasuries and mortgage-backed securities (MBS) for about six years in a program known as "quantitative easing" which kept interest rates at record lows to spur borrowing and economic recovery.
 
But at its June meeting this year, as well as raising interest rates for the third time in six months, the Fed also announced a plan to begin by letting $6 billion a month in Treasuries mature without reinvestment and to increase that amount at three month intervals up to $30 billion.
 
Similarly, the Fed said it would run down its agency debt and mortgage backed securities by $4 billion a month until it reaches $20 billion.
 
Now, the European Central Bank (ECB) also appears likely to decide later this year on when to scale back its monthly bond purchases. When ECB President Mario Draghi first hinted at the prospect last month, world bond yields rose sharply for a while.
 
Moreover, Canada's central bank raised interest rates for the first time in seven years this month, and the Bank of England is expected to raise rates next year to combat rising inflation.
 
Global Turning Point in Monetary Policy ?
 
The Fed led the way in tightening monetary policy as the global economy recovered from the 2008 recession but must now determine how plans by other central banks' plans may affect their own policy.
 
While a stronger European economy has been welcomed by the Fed, lessening risks to the global economy, a move by major central banks to all tighten monetary policy simultaneously has not been seen for a decade.
 
"The effects of ECB tapering are not limited" to euro zone countries, Cornerstone analyst Roberto Perli wrote recently.
 
Draghi's comments in June drove up 10-year Treasury yields US10YT=RR by the most since the U.S. election last November, and a move by the ECB to stop printing money could prompt the Fed to slow its plans for fear that financial conditions would tighten too fast.
 
When Fed policymakers meet on July 25-26 they will need to decide a start date for reducing their bond holdings or leave more time to evaluate what Fed Governor Lael Brainard recently cited as a possible "turning point" in global monetary policy that may affect economic growth.
 
The Fed's plan to reduce its portfolio may well push up longer term bond yields, driving up long term borrowing rates for business, and lead to higher mortgage rates for the housing industry.
 
Analysts have made comparisons to the so-called "taper tantrum" in 2013 when world bond yields jumped after the first signal from the Fed that it might tighten policy.
 
"Just how sturdy is this recovery in the face of rising long rates? I would be a little more nervous about that," said former Fed research director David Stockton, now a senior fellow at the Peterson Institute for International Economics. "I would not feel any urgency" to reduce the balance sheet for now.
 
Hurdles Ahead for Fed
 
Fed officials have said they think the balance sheet reductions should begin soon, and analysts have pinpointed September as the likely month the Fed will stop reinvesting the proceeds it receives as securities mature..
 
But the minutes of the Fed's June meeting indicated a split between officials ready to start balance sheet reductions in "a couple of months" and those wanting to wait for more economic data.
 
Since then the number of hurdles for the Fed to jump before tightening policy further has multiplied.
 
Global long-term bond yields jumped after the ECB indicated it may begin tightening policy last month and may rise again.
 
Annual U.S. consumer price inflation increased by 1.6 percent in June, the smallest rise since October last year, and year-on-year inflation has been declining since February when it hit 2.7 percent, reducing the need for the Fed to tighten.
 
And the prospect of the U.S. Congress failing to raise the federal debt ceiling before the Treasury runs out of cash in October has already driven up yields on three-month Treasury bills US3MT=RR due to mature on Oct. 19 to 1.17 percent on Friday, near the highest levels since October 2008.
 
As a result the chances of a third rise in the Fed funds rate this year recently fell below 50 percent, according to CME Group's FedWatch.
 
Complicating matters more, each central bank has two policy tools in play - a target interest rate, and a massive balance sheet accumulated. Between them, the Fed and ECB own roughly $9 trillion of assets.
 
Fed Governor Brainard has already pointed out how hard it may be to sort out what it will mean if the ECB starts to scale back its bond purchases at the same time the Fed is both raising short-term interest rates and shrinking its balance sheet.
 
"I will want to monitor inflation developments carefully, and to move cautiously on further increases in the federal funds rate, so as to help guide inflation back up around our symmetric target," Brainard said.
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Siemens dumps Russian partner www.cnn.com

Siemens is scaling back its business in Russia after it learned that power generation equipment was being diverted to Crimea.
The German industrial group said it had received "credible information" that four gas turbines destined for a project in southern Russia had been "modified and illegally moved to Crimea against clear contractual agreements."
Russia illegally annexed Crimea from Ukraine in 2014. Sanctions imposed by the U.S., Europe and other Western countries on Moscow in response prohibit companies from supplying energy technology to the disputed region.
Siemens (SIEGY) said the diversion of the turbines constituted a "blatant breach of delivery contracts, trust and EU regulations."
The company said in a statement that it would sell its minority stake in Russia's Interautomatika and pursue legal action against TPE, the Russian company that was supposed to take delivery of the gas turbines.
Siemens also said it is halting deliveries of power generation equipment to Russian state-controlled entities while it figures out how to prevent this from happening again.
TPE didn't respond to CNNMoney's request for comment. A Kremlin spokesman declined to comment Friday during a regular briefing with reporters.

Before Russia invaded, Crimea was dependent on power supplies from Ukraine. Frequent power blackouts followed the annexation, which cut the region off from Ukraine's national grid.
Russia subsequently built an "energy bridge" to supply power to Crimea via cables running under the Black Sea.
It was not clear from Siemens' statement whether the gas turbines could be operated without the company's support, nor how the equipment had been modified.
Siemens declined to provide further details.

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KT Exiting Investment in Mongolia www.communicationstoday.co.in

South Korea’s KT has arranged to exit its longstanding investment in majority state owned operator Mongolia Telecom Company.

KT has offered to sell its 40 percent stake in Mongolia Telecom Company to the government of Mongolia for USD 2.5 million, Montsame News Agency reported. At a cabinet meeting earlier this week, the transaction was approved.

The transaction will take the Mongolian government’s stake in the operator up to 94.67 percent. The remainder is owned by local and foreign national investors.

Mongolia Telecom Company has a roughly 25 percent share of Mongolia’s landline market and an 11.3 percent share of the broadband market. KT first invested in the company in 1995 for USD 4.5 million, more than the agreed upon sale price. – Telecom Asia

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Digging together: Mongolia and Chinese archaeologists co-operate www.news.mn

Henan Province, in central China, and Mongolia, is breaking new ground today (21st July) - literally - as the Chinese team and their Mongolian counterparts start excavating.

The programme is the first time the province has sent a team of archaeologists abroad.

Archaeologists from both countries will cooperate on surveys, mapping, excavation and research of a Xiongnu cemetery in Arhangai Province. The site has more than 400-known tombs.

Previous digs over the past 10 years have unearthed a chariot believed to have been given to the Xiongnu by China during the Han Dynasty (202 BC - 220 AD), as well as some ironware and pottery typical of the Han style.

'The Xiongnu had close political and economic connection with the Han Dynasty,' said Zhou Ligang," head of the Henan archaeological team.

The Xiongnu were an alliance of nomadic tribes who are also known as the Huns. Emerging around the end of the third century B.C., they were to have a huge impact on Chinese and world history. During the Han Dynasty, the Xiongnu and China clashed several times.

Zhou said that previously excavated relics needed to be classified and restored, and the other tomb groups needed further observation and analysis.

'We will use the most advanced equipment and technology, such as low-altitude photogrammetry, to create a 3D model of the cemetery, which will help the Mongolian archaeologists digitalize their research findings,' Zhou said.

The project will be livestreamed on 'Sina Weibo' and will be included in international exhibitions. The Mongolian side will also visit Henan to conduct field surveys and undertake aerial photogrammetry training.

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IMF team arrives to monitor implementation of EFF program www.montsame.mn

Ulaanbaatar /MONTSAME/ A monitoring team from the International Monetary Fund (IMF) has reportedly arrived in Mongolia to get familiarized with the implementation of the Extended Fund Facility Program, which was authorized by the IMF Board on May 25.

Since the day of the Board’s approval, initial funding has been allocated to Mongolia. Total funding for the three-year EFF program is USD 434.3 million. The initial funding of USD 38.6 million was transferred to the foreign exchange reserve of the central bank of Mongolia, in addition to financing from World Bank and the Asian Development Bank. Loan agreements with bilateral partners such as Japan and South Korea are on final stage.

It has been agreed that a monitoring team will visit Mongolia at least once in every three months to look through the mobilization of EFF program. IMF wanted to clarify that it will allocate partial funding on each of the three phases of implementation after careful consideration for the level of EFF program realization.

It has been about two months since commencement of EFF program, for preparation of which, the Parliament has approved the amendments to 2017 State Budget. In its frames, a decision was made by authorities to grant children’s benefits to only 60 percent of children of Mongolia taking into consideration the guardians’ annual incomes. However, right before the second round of the presidential election, the government resolved to grant children’s benefits to all children. Some experts reminded the government is breaching the agreement it has with IMF. Whether it was a violation to the IMF-Mongolia agreement or not is likely to be resolved during the monitoring team’s stay in Mongolia.

During the three-year period of EFF implementation, every budget administrator are tasked to monitor budget revenue and expenditure. It is expected to help reducing budget deficit. It has also been agreed to set up a Budget Council to evaluate the current grounds of taxation in Mongolia. In order to ensure financial stability, the Bank of Mongolia (central bank) is being audited. 
B.Amarsaikhan

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Multinational peacekeeping exercise "Khaan quest" 2017 www.news.mn

The Mongolian Armed Forces and U.S. Pacific Command">U.S. Pacific Command will host the multinational peacekeeping exercise Khaan Quest 2017. Military units from 26 countries will participate in this year’s 'Quest', which is held annually in Mongolia.

Initially launched in 2003, 'Khaan Quest' began as a joint training endeavor between Mongolia and the U.S. From 2006 it became a premier peacekeeping exercise involving dozens of nations from around the world. The 'Khaan Quest' is one of five main military exercises run by the U.S. military to increase the 'peacekeeping capacity' of Asia-Pacific nations.

 
 
 
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Mongolian Immigration Agency warns of fake visas www.news.mn

The Mongolian Immigration Agency has discovered several incidents of people using fake visas to enter Mongolia as temporary visitors. The people in question are coming to Mongolia for various reasons including business and tourism.

Foreigners without the necessary documentation must be aware that, under Mongolian law, they are committing a crime and will face fines, deportation and bans on future entry into the country.

The Mongolian Immigration Agency recommends foreign nationals who are planning to come to Mongolia to obtain visas from the appropriate authority - normally a Mongolian consulate or embassy. The citizens of many countries can visit Mongolia as tourists for up to one month, without obtaining a visa before leaving. People should check in advance that their country is on the list and be aware that they will be fined for overstaying the one month period.

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Military aviation makes up bulk of Russian arms exports www.rt.com

Russian state arms exporter (Rosoboronexport) expects military aviation equipment to constitute over 50 percent of 2017 exports, said deputy head Sergey Ladygin in an interview with Sputnik during the MAKS-2017 international air show.

"According to our estimates, the tendency for the growth of export and larger contracts on items for the air force will continue. We expect the aviation component of Rosoboronexport contracts to go over 50 percent in 2017,” he said, adding the countries of the Middle East and the Pacific Rim will be “chief importers of this type of weaponry."

Ladygin said the surge of interest in Russian military aircraft coincided with the beginning of Russian air operations in Syria. He explained that Su-30, Su-35 airplanes, and Mi-28, Ka-52 and Mi-17 helicopters are in demand as they have been "tested in combat."

Annually aviation-related equipment exported has been about 45 percent of the total over the last five years. The three largest contracts signed by the company last year were related to aviation equipment.

"It is no secret that aviation makes up a significant part of our exports. In the first half of 2017, our contracts for the export of weaponry and military equipment for air forces amounted to about $2 billion,” said Ladygin.

At the moment, the company's aviation-related export contracts amount to more than $19 billion, according to Rosoboronexport.

 
 
 
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Indian Ambassador pays courtesy call on President Kh.Battulga www.montsame.mn

Ulaanbaatar /MONTSAME/ Today, 20 July, Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia Suresh Babu paid a courtesy call on President of Mongolia Kh.Battulga. At the beginning of the meeting, Ambassador Suresh Babu handed over the letter sent by the President of India Pranab Mukherjee and Prime Minister Narendra Modi to President Kh.Battulga.

The parties underlined that Mongolia and India have had religious and cultural ties from time immemorial and in recent years, the two countries have expanded the relationship in the fields of defense, security, education and information technology. President of Mongolia Kh.Battulga emphasized that the development of the information technology sector is strategically significant as Mongolia is a landlocked country and he plans to take a leadership role in the issue as the head of the country.

During the first visit by the preceding President of Mongolia to India 8 years ago, India pledged to give loan of USD20 million and the resolution of the issue is going very slowly. President Kh.Battulga said it would be beneficial to spend the loan for the development of information technology and training personnel. He has a proposal to establish a branch of the Indian Institute of Technology in Ulaanbaatar and he requested the Ambassador to convey his proposal to Prime Minister Narenda Modi and his readiness to implement the project under the President’s auspices. The Indian Institute of Technology is one of the world’s leading institutes of information and technology. Currently, more than 60,000 students are studying at the institute.

The Prime Minister of India Narendra Modi visited Mongolia in 2015 on the occasion of the 60th anniversary of the establishment of diplomatic relations between Mongolia and India. During the visit, the two sides agreed to establish a Mongolian and Indian joint school of information technology. Works are underway to realize the agreement jointly with the Foreign Affairs Ministry of Mongolia and the Ulaanbaatar Mayor's Office, noted Ambassador Suresh Babu. The heads of the two countries can work together in this direction as the President of India chairs the IT Steering Committee, mentioned Ambassador Suresh Babu, also emphasizing the importance of collaboration in cyber-security issues.

Even though the two countries have long traditional relations, the economic and trade turnover has been at insufficient level, marked the President, putting his proposal to establish an Indian trade center in Ulaanbaatar, which would lead to the economic and trade turnover increase. President of Mongolia Kh.Battulga stressed that joining the proposal of India to open a direct flight between Ulaanbaatar-Deli with the proposal of the President of Mongolia to establish an Indian trade center in Ulaanbaatar would bring good results.

B.Ooluun

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