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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“Mongolia rises again” – Last chance to sign up for 27th NAMBC AGM & Investors Forum, April 26-28 www.nambc.org

 
With the theme of “Mongolia rises again,” the NAMBC’s 27th AGM & Investors Forum opens on the evening of Wednesday, April 26, with a reception hosted by Ambassador Bulgaa Altangerel at the Mongolian Embassy in Washington DC commemorating the 30th anniversary of US-Mongolia relations. Working sessions will be 9:00 AM to 5:00 PM on Thursday, April 27, at the Residence Inn Pentagon City Arlington, adjacent to Washington’s Reagan National Airport. Distinguished experts from Mongolia and North America will discuss the outlook for Asia policy under President Trump and prospects for renewed Mongolian economic growth. Eight US Ambassadors to Mongolia will share their views on three decades of US-Mongolia relations. The optional second day, Friday, April 28, features private door-knock meetings with US government officials for US registrants; requires a transportation fee of $25 per person.
 
An updated schedule and agenda follows below. A registration form is attached. This AGM is made possible by the generous support of our sponsors, who share the NAMBC’s confidence in Mongolia’s future: Centerra Gold, Wagner Asia, Nomadic Expeditions, Hogan Lovells (Mongolia) LLC, SOCO International, 5.11 Tactical and Mongolia Business Database.
 
“This year we have the largest-ever number of speakers and delegates from Mongolia,” said NAMBC Chairman Frank Herbert, “as well as the largest number of former American ambassadors to Mongolia ever assembled at the same place and the same time.” Also speaking are the Mongolian Ambassador to the US B. Altangerel and the Mongolian Ambassador to Canada R. Altangerel. Herbert also noted that the discussion on future Mongolian economic growth included experts from a broad variety of sectors including mining, equipment supply chain, infrastructure, finance, think-tanks, tourism, agriculture, investment, the legal community and the Canadian and US governments. This group includes CEOs or senior officers of four major mining investors in Mongolia.
 
Some group rate room reservations at the Residence Inn Pentagon City may still be available; the deadline was April 5 . If any are still available, group rate rooms are US$274.54 per night inclusive of tax, complimentary internet, hot breakfast buffet and free shuttle service to Reagan National Airport and the Metro station. To inquire about availability and to book rooms, please immediately call NAMBC Event Manager Sarah Bucy, 01+703-413-6588, Sarah.bucy@marriott.com, and be sure to reference the NAMBC AGM at the Residence Inn Arlington Pentagon City in order to obtain the group rate. Do not attempt to register for the group rate online at this late date.
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Oil edges up as Saudis reported to back extension of production cuts www.rt.com

 
Crude surged on Wednesday, putting oil prices on track for their longest winning streak since August 2016 on reports Saudi Arabia will back extending output reductions.
 
Brent crude futures were up 29 cents, or 0.52 percent at $56.52 per barrel. US West Texas Intermediate was trading up 25 cents, or 0.47 percent at $53.65.
 
On Tuesday, Bloomberg quoted a person familiar with the kingdom’s internal discussions that the Saudis are likely to back extending the curbs to end a three-year oil glut. However, the final decision hasn’t been made, the source said.
 
Saudi Arabia has made significant cuts, slashing production by 4.5 percent since late 2016 despite a slight growth in March to 9.98 million barrels per day (bpd).
 
"Saudi Arabian production reduction appears to be ahead of forecast and gave oil a boost," said Jeffrey Halley of futures brokerage OANDA in Singapore, as quoted by Reuters.
 
OPEC is scheduled to meet on May 25 to discuss whether to extend output cuts of 1.2 million barrels per day for another six months.
 
Russia, Mexico, Kazakhstan and several other non-OPEC countries have agreed to curb their production by 600,000 barrels per day. Russia has pledged half of the cuts.
 
However, prices are dragged down by information from the United States, where both production and inventories are rapidly growing.
 
US crude production is set to grow to 9.9 million bpd in 2018, from 9.22 million bpd this year. American stocks rose to a record 535.5 million barrels this month.
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Gold price jumps on Trump comments, North Korea www.mining.com

 
While industrial metals investors were offloading the sector's big names on Wednesday after sharp drops in iron ore and copper prices over worries about the robustness of the Chinese economy and heightened tensions surrounding North Korea, gold was enjoying one of its best trading sessions of the year.
 
Safe haven buying saw gold bulls chase the metal higher throughout the day and comments by Trump in an interview with the Wall Street Journal that the US dollar "is getting too strong" only added fuel to the fire late afternoon.
 
On the Comex market in New York gold for delivery was last trading at $1,289 an ounce, the highest since November 10 and up 2.6% so far this week.
 
Reaction from top gold stocks were fairly muted with Barrick Gold adding half a percentage point on Wednesday bringing the top gold producer's year to date gains to 26.5%.
 
Number two in terms of output, Newmont Mining ended the day slightly lower, before finding fresh buyers after hours, while Vancouver-based Goldcorp added 1.1% in New York.
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UK rejection of €60bn Brexit bill would hurt EU's credit rating - S&P www.rt.com

 
The European Union's credit rating could be downgraded if the UK refuses to pay the €60 billion obligation in the course of implementing the country's exit from the bloc, warns Standard & Poor's.
 
“The EU ratings could come under pressure in an adverse scenario. This is because our ratings on the EU are to a certain extent predicated on our expectation that the UK would honor its share of financial obligations to the EU,” S&P said in a report seen by the Telegraph.
 
EU officials are not only demanding Britain pay €60 billion as it quits the bloc but insist a settlement of the issue should be reached before any other stages of Brexit negotiations can start.
 
The so-called divorce bill is aimed at covering the costs of significant pension contributions and financial liabilities, according to Brussels.
 
The warning issued by the agency will reportedly make the EU even more steadfast when it comes to the matter, as it reveals the risks the bloc may face in case of a hard Brexit.
 
The EU has an AA credit rating, the second highest awarded by S&P. Previously the EU enjoyed the highest AAA rating but was downgraded shortly after the results of the UK referendum.
 
“After the decision by the UK electorate to leave the EU, we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor,” S&P said at the time.
 
British officials said the UK was ready to pay a settlement to the EU but the demanded sum was too high.
 
The S&P warning came after the claim by an influential Lords' committee that Britain is not legally obliged to pay Brussels any compensation.
 
“This is being presented in a binary way as a divorce bill, in which we owe them. It's not like that. It's more like leaving a gym or a club. You don't continue to pay for other people to use the facilities after you leave,” an unnamed government source said as quoted by the Telegraph.
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Mongolia-China forum on urban development investment held www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 11, Ministry of Construction and Urban Development of Mongolia, Embassy of Mongolia in Beijing and Mongolian National Construction Association co-organized a forum themed “Mongolia-China Investment for construction and urban development-2017” at the Embassy of Mongolia in Beijing.
 
The forum was attended by over 150 representatives from public and private sectors of Mongolia and China. Opening speeches were delivered by D.Gankhuyag, Ambassador Extraordinary and Plenipotentiary of Mongolia to China and G.Munkhbayar, Minister of Construction and Urban Development.
 
During the forum, the Mongolian delegates delivered a presentation on the current development of Mongolia’s construction and urban development industry and large scale projects to be implemented in the near future in Mongolia. Also, individual business meetings among the companies engaged in the construction sector were held.
 
Furthermore, within the framework of the Mongolia's Construction Minister's visit to China, the Embassy of Mongolia in Beijing launched a special webpage on the website of the Embassy on April 11. At the initiative of Ambassador D.Gankhuyag, the Mongolian Embassy in Beijing is working to create an online pictorial archive of Mongolia's historical and cultural heritages found in the territory of China and other parts of the world.
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Chuluut Canyon Skywalk construction commences www.montsame.mn

Ulaanbaatar /MONTSAME/ Canyon of Chuluut, located in Arkhangai aimag, is a key tourist attraction of Mongolia. 150-meter long glass bridge is being built over the canyon. The project executors say it will be commissioned by Naadam, the biggest traditional festival of Mongolia observed in July.

The skywalk is being made in frames of a project called Khusliin Tour (Dream Tour), which is creating a glass eco-park for travelers, incorporating the skywalk, a mirror maze, steps leading down to the bottom of the canyon to Chuluut River and air slide. The project team plans to entertain the travelers with moto-shows, as well.

Also, within the project, tour camps, one of which will be luxurious and the other, regular. These camps will have 20 glass Gers (tradition dwellings) and 10 ordinary Gers. They are building parking spaces for around 800 vehicles.

The glass bridge will be the fourth skywalk in the world, says the project team. It costs MNT 2.2 billion.

The project team says any foreign or national investors are welcome for cooperation.

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Oyu Tolgoi activities to be assessed www.montsame.mn

Ulaanbaatar /MONTSAME/ A working group headed by the State Secretary of Finance Ministry has been set up to evaluate the activities of Oyu Tolgoi Company by the Government. Yesterday, April 11, Parliamentary Standing Committee on Economy held a second discussion of bills on amendments to the 2017 State Budget law and amendments to the 2017 Social Insurance Fund budget. During the discussion, the working group in charge of development of the bills informed about it in response to MPs questions.

Some MPs of the Economic Standing Committee, asked questions whether the International Monetary Fund has advised to improve Oyu Tolgoi agreement and to make up budget revenue through raising tax on gold, and whether estimation of dollar exchange rate in the budget bill, equaling MNT2538, was projected realistically.

According to the answers of the working group, IMF has given instruction to keep the currency exchange rate stable and to make up budget revenue not depending on mining. MP Ts.Davaasuren made a proposal to improve activities in Oyu Tolgoi and Tamsag mines and transmit income from the mines through the Bank of Mongolia, when distributing the income to relevant organizations. Majority of MPs of the standing committee supported the proposal.

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Oil starts flowing through China-Myanmar pipeline www.chinadaily.com.cn

 
The China-Myanmar crude oil pipeline started operations after an oil tanker began offloading crude oil in the Southeast Asian country on Monday, which signals a new phase in energy cooperation between the two countries and helps ensure China's oil and gas imports.
 
The 140,000-metric-ton oil tanker Suezmax began offloading crude oil at Made Island oil port, the starting point of the pipeline, in Myanmar.
 
The 771-kilometer pipeline ends in southwestern China's Yunnan province.
 
The pipeline has a designed annual transmission capacity of 22 million tons. Once the pipeline becomes fully operational, Myanmar can also be provided with 2 million tons of crude oil through it annually.
 
China National Petroleum Corp, the country's largest oil and gas producer, holds a 50.9 percent stake in the pipeline, while Myanmar Oil and Gas Enterprise owns the remainder.
 
"The pipeline well ensures China's oil and gas import diversification, following the second China-Russia crude oil pipeline, which started operation last year in northeastern China's Heilongjiang province, and the China-Kazakhstan oil pipeline," said Li Li, energy research director at ICIS China, a consulting company that provides analysis of China's energy market.
 
With the new pipeline, China's oil and gas imports will no longer have to pass through the Malacca Straits, a narrow channel that connects the Indian Ocean with the Pacific Ocean, Li said.
 
"The safety level of pipeline transmission is much higher than for sea shipments, which will ensure a stable energy supply to China," she said. "The economic benefits will grow as deliveries increase."
 
The oil gateway will help ease the oil supply shortage in southwestern China, CNPC's South-East Asia pipeline company said.
 
China and Myanmar signed an agreement on Monday, which allows CNPC to import oil via the Bay of Bengal in Myanmar and pump it through the pipeline to a new refinery in Yunnan.
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First freight train sets off for China from UK www.rt.com

 
A train loaded with British goods, has started a 12,000 km journey from England to China, opening a regular direct service between the countries.
It pulled away from Stanford-le-Hope in Essex on Monday to arrive in China in three weeks.
 
Whisky, soft drinks, vitamins, pharmaceuticals and baby products are among the items in 30 containers carried by train.
 
The locomotive will travel through the Channel Tunnel, and then seven countries - France, Belgium, Germany, Poland, Belarus, Russia, and Kazakhstan – before arriving on April 27.
 
The rail journey to China is cheaper than sending freight by air and faster than a voyage by ship, operators say.
 
The route is part of China’s "one belt, one road" program aimed at reviving the ancient Silk Road trading routes between the East and the West. In January, the first freight train from China arrived in the UK.
 
"This new rail link with China is another boost for global Britain, following the ancient Silk Road trade route to carry British products around the world,” UK International Trade Minister Greg Hands said, adding that the rail link "shows the huge global demand for quality UK goods.”
 
The freight service makes London the 15th European city to have a direct rail link with China.
 
"This is the first export train and just the start of a regular direct service between the UK and China,” said Xubin Feng, chairman of Yiwu Timex Industrial Investment which is organizing the service.
 
"We have great faith in the UK as an export nation and rail provides an excellent alternative for moving large volumes of goods over long distances faster," he added.
 
Restoring the Silk Road route was "an important and exciting initiative,” according to Feng.
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Denmark proposes law change to block Russian gas to Europe www.rt.com

 
The European Commission has refused to comment on a proposal by the Danish government to modify the country’s laws allowing it to block the construction of a Russian natural gas pipeline to Europe.
 
Earlier this week, a bill was put to the Danish parliament to make sure foreign, and security policy is considered when assessing the approval of projects such as Nord Stream-2.
 
According to the Danish energy ministry, the present regulations do not allow Denmark to decide on permits for transit pipelines to pass through Danish waters due to foreign policy considerations.
 
“We want to have the possibility to say yes or no from a perspective of security and foreign policy,” said Energy and Climate Minister Lars Christian Lilleholt, adding that it was the only possible way to veto such projects due to environmental concerns.
 
Denmark's right-wing minority government will reportedly negotiate with other parties to win support for the proposal.
 
The Nord Stream- 2 pipeline aims to double the existing capacity delivering natural gas from Russia to Germany and Northern Europe under the Baltic Sea.
 
The pipeline bypasses Ukraine, which the Kremlin says proved to be unreliable for both the exporter and the importer. The gas transit contract between Moscow and Kiev expires in December 2019 and has not yet been extended.
 
Last month, EU officials announced plans to enter security negotiations with Moscow over the project, saying the bloc no longer had legal grounds to stop it.
 
The move followed years of delays over EU concerns the project would strengthen Russia’s dominance of the European gas market and minimize Ukraine’s participation.
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