1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     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    

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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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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Centerra gets some breathing room in dispute with Kyrgyz Republic www.mining.com

Canada's Centerra Gold (TSX:CG) has been granted some provisional relief in its ongoing arbitration against the Kyrgyz Republic and state-owned miner Kyrgyzaltyn, related to the firm’s vast Kumtor gold mine.

The miner sought international arbitration in May last year, following the country’s string of penalties, fees and accusations of damaging the environment and violating business deal, all of which the firm considers to be without merit.

The Vancouver-based company, the largest Western-based gold producer in Central Asia, said late Wednesday the arbitrator sided with the company, finding evidence that Centerra had both made out a case for the arbitrator to take jurisdiction over the arbitration proceeding and been convincing regarding the merits of the case, unless proved otherwise.

Centerra, which in January filed a request for a partial award or interim measures against the Kyrgyz Republic, is seeking an award ordering the Kyrgyz Republic withdraw or suspend its several claims and related decisions and court orders.

Such decision came on the heels of a court order forcing Centerra's local subsidiary, Kumtor Gold Company (KGC), to pay about $98 million in fees related to their mine waste. That was on top of an earlier court decision ordering Kumtor, the country's biggest gold mine, to pay a $10,000 fine.

The operation has been the focus of a number of disputes between the company and the Kyrgyz government.

Last year, Kyrgyz prosecutors went as far as to raid the company's offices to collect documents related to a suit alleging financial violations by Centerra.

Kumtor, which lies near the Chinese border at an altitude of 4,000 metres, has produced around 10 million ounces since inception and remaining reserves are 5.6 million ounces. In November Centerra said it was increasing its gold output guidance for the mine to 520,000 to 560,000 ounces and lowering all-in sustaining cost forecast to $666 – $718 per ounce.

Centerra has been shopping for assets in safer jurisdictions as of late. Last year, it bought out US-based Thompson Creek Metals (TSX:TCM) including the Mount Milligan copper-gold mine in British Columbia, Canada.

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Lenovo teams up with JD to build big data platform www.chinadaily.com

 

Lenovo Group Ltd announced on Thursday it had teamed up with JD.comInc, China's second biggest e-commerce player, to build a big data platform, as the two make joint efforts to tap into opportunities brought about by artificial intelligence.

The move is part of Lenovo's broader push to leverage AI to breathe new life into its PC, smartphone, data center and other hardware businesses.

Lenovo Chairman and CEO Yang Yuanqing said JD has accumulated huge amounts of e-commerce data from consumers who love buying electronics online, while Lenovo knows how millions of its devices are being used every day.

"When the two types of data are analyzed, they can generate big value, such as predicting exactly how many computers will be in demand next month," Yang said.

"It can help Lenovo better manage the supply and demand of our products."

Lenovo and JD said they aim to sell 80 billion yuan ($12.04 billion) worth of consumer electronics in three years, up from the 60 billion yuan target they promised last year.

Liu Jun, president of Lenovo's China unit, said personal computers sales alone would reach 60 billion yuan. Mobile phones will account for 15 billion yuan, with the rest generated from other smart devices such as speakers.

Liu also said Lenovo aims to overhaul its more than 10,000 offline retail stores, in a move to adapt to consumers' changing shopping habits.

"Currently, most of them sell only personal computers. We will turn them into cool retail stores which sell a wide range of consumer electronics," Liu said.

Lenovo is stepping up its investments into new technologies including AI, in an effort to reduce its reliance on PCs and revive its tumbling smartphone business.

The company said in April that it would pour $1.2 billion into research and development of artificial intelligence, the internet of things and big data over the next four years.

Rui Yong, chief technology officer of Lenovo, said the company's edge in big data, computing power and algorithms could help it stay competitive and relevant in the AI era.

"We have the largest number of manufacturing data groups in China. Of the top 500 high-performance computers in the world, 91 of them are made and operated by Lenovo," Rui said.

Lenovo also signed a deal with Chinese electric vehicle startup NIO on Thursday to jointly develop a computing platform to drive smart driving.

Xiang Ligang, CEO of telecom industry website cctime.com, said Lenovo could gain a lead in AI, if it could swiftly implement its strategy and utilize its advantages in information infrastructure.

 
 
 
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