1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      НУРАХ ДӨХСӨН БАЙРУУДЫГ ШИНЭЧЛЭХ КОМПАНИ ОЛДОХГҮЙ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛС ВАШИНГТОН, ПЁНЬЯНЫ ХЭЛЭЛЦЭЭРТ ЗУУЧЛАХАД БЭЛЭН ГЭДГЭЭ ЗАРЛАЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20    

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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Adaptation Fund allocates 4.5 million USD for Mongolia www.gogo.mn

The Ulaanbaatar City Environmental Department announced that the Kyoto Protocol Adaptation Fund (AF) Board has approved a 4.5 million USD project in Mongolia. The project aims to build resilience to flooding in the ger settlements of Ulaanbaatar c, as well as reduce vulnerability to wind and dust storms and air pollution.

The (AF) Board approved the implementation of four new climate change adaptation projects across Asia and Western and Southern Africa. The total budget for these projects amounts to 35 million USD. Since 2010, the AF has committed 512 million USD for 77 climate change adaptation projects. It is estimated that more than 5.6 million people have benefited from these projects.

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Turkey warns Mongolia over manipulation by FETO www.aa.com.tr

Turkey's Foreign Ministry late Monday refuted that a Turkish man with links to the Fetullah Terrorist Organization (FETO) had been kidnapped in Mongolia.

Videos of a FETO-linked teacher named Veysel Akcay have been circulating on social media claiming he was kidnapped by a group of men in front of his home on July 27.

In a written statement, Foreign Ministry Spokesperson Hami Aksoy said Mongolia is a country where FETO has a "wide network and threatens Mongolia's national security".

"We have often shared our serious concerns about the issue with officials in Mongolia," he said.

Aksoy said Turkey "rightfully" expects all FETO members to be brought to trial, but Turkey "does not interfere with other countries' domestic security measures".

"Therefore, we are very uncomfortable about what happened on Friday is being reflected as a kidnapping operation," Aksoy said.

"These claims are false and strictly rejected by us."

Aksoy added that the foreign ministry also held a meeting with Mongolia's envoy to Ankara and protested how the issue had been reflected in Mongolia.

"The smear campaign that FETO are trying to carry out in Mongolia should be seen as an alarming situation for our friends in Mongolia, within the scope of the group's ability to lie and manipulate people," Aksoy said.

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US answers Belt and Road with own Indo-Pacific investment plan www.asia.nikkei.com

NEW YORK -- The U.S. declared a "new era" in American commitment to the Indo-Pacific on Monday, with Secretary of State Mike Pompeo announcing a $113 million package aimed at developing the region's digital economy, energy sector and infrastructure.

Although Pompeo made no mention of China, experts say the plan is meant to defend U.S. interests in the region as China forges ahead with its own trade and infrastructure investment program, the Belt and Road Initiative.

Pompeo said he will leave Wednesday on a trip to Malaysia, Singapore and Indonesia, where he will discuss the plan, which he called a "whole-of-government" mission.

Speaking at the Indo-Pacific Business Forum in Washington on Monday, Pompeo said, "The Indo-Pacific, which stretches from the United States west coast to the west coast of India, is a subject of great importance to American foreign policy." He called it one of the greatest engines of the future global economy and that the American people "have a stake" in the peace and prosperity of the region.

Speaking about the pledged $113 million, Pompeo said the "funds represent just a down payment on a new era in U.S. economic commitment to peace and prosperity in the Indo-Pacific region."

Of the $113 million, an initial investment of $25 million will be made toward improving partner countries' digital connectivity to expand opportunities for U.S. tech exports. Nearly $50 million will be earmarked this year to help partners manage energy resources, with approximately $30 million to be spent on infrastructure.

At multiple points during his remarks, Pompeo appeared to take jabs at China's activities in the region. The U.S. "will never seek domination in the Indo-Pacific, and we will oppose any country that does," he said.

In explaining the concept of a "free and open Indo-Pacific," Pompeo said that "free" expresses the desire for "every nation to be able to protect their sovereignty from coercion by other countries." By "open," the U.S. is looking for "a peaceful resolution of territorial and maritime disputes," he said.

"The United States of America does not invest for political influence but rather practices partnership economics," Pompeo added.

The vision of a "free and open" Indo-Pacific region was first announced by President Donald Trump at last year's Asia-Pacific Economic Cooperation summit in Vietnam.

Alyssa Ayres, senior fellow at the Council on Foreign Relations and former deputy assistant secretary of state for South Asia, said Pompeo's speech lacked clarity on what the strategy was and that the funds were small in comparison to Chinese investments. "The $113 million is not comparable to, say, the $62 billion that China is providing for the China-Pakistan Economic Corridor. The U.S. needs to show how they are going to leverage this investment and which countries, such as Japan, India, Australia and Singapore, that it intends to cooperate with."

Ayres said that Pompeo's scheduled visit to India in September, when the U.S. and India will hold two-plus-two talks involving the foreign affairs and defense ministers, will be an opportunity to deepen discussions on the Indo-Pacific strategy.

Tanvi Madan, a fellow at the Brookings Institution and the director of The India Project at the think tank, said "there will be questions about the scale of American funding and broader involvement, as well as how this all fits in with the administration's approach to trade."

"In some ways Delhi sees the Trump administration as more clear-eyed about Beijing than its predecessor," Madan said. "But there are concerns about the nature of U.S. involvement and questions about reliability and consistency, as well as the administration's America First approach."

While Monday's announcement was presented as an economic decision made for the benefit the American people and the companies doing business in the region, it also stands to assuage fears among U.S. allies that China will fill a leadership gap left by an increasingly inward-facing White House.

Pompeo acknowledged that "some are wondering about America's role in the region" after Trump's withdrawal from the Trans-Pacific Partnership, a 12-country agreement that served as the cornerstone of former president Barack Obama's Asia strategy. The 11 countries that remain a part of the pact are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The secretary affirmed Washington's commitment to economic engagement in the region, noting that American companies would continue to expand and advance U.S. economic interests, "while we work with our partners to craft better and higher-standard bilateral trade agreements."

"We seek to work with anyone to promote a free and open Indo-Pacific, so long as that cooperation adheres to the highest standards that our citizens demand," Pompeo said, in what appears to be criticism of China, whom the U.S. has accused of militarily overstepping its bounds and engaging in unfair trade practices.

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Mongolia's unemployment rate drops 11.1 pct in H1 www.xinhuanet.com

ULAN BATOR, July 30 (Xinhua)-- The number of jobless people in Mongolia went down 11.1 percent from the same period last year, with 25,800 people registering themselves as unemployed in the first half of this year, data from the National Statistical Office of Mongolia showed Monday.

But the figure was 7.5 percentage points higher month on month.

More than half of the unemployed are female. The unemployment rate was the highest in the age group of 15-34 years.

Mongolia has a population of nearly 3 million.

During the first six months of 2018, only 9,800 people out of the total number of registered unemployed people got a new job through intermediaries.

Editor: xuxin

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Doctors Without Borders provides free dental checkups in Mongolia www.xinhuanet.com

ULAN BATOR, July 30 (Xinhua) -- International medical charity Doctors Without Borders provided free dental checkups and treatment for about 8,500 people in northern Selenge Province in Mongolia, a member of parliament said Monday.

Navaanyunden Oyundari said here at a press conference that 26 oral hygienists from the charity provided free checkups and treatment for about 8,500 residents.

This is the 12th year of the initiative and the dentists agreed to provide checkups next year too.

Tooth decay is the most prevalent chronic problem among Mongolians, especially children.

According to the Ministry of Health, 80-90 percent of Mongolian children aged between 2-12 suffer from dental decay. Enditem

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Turkey rejects 'kidnap' attempt on teacher in Mongolia www.afp.com

Turkey on Monday rejected claims it tried to kidnap a teacher from Mongolia with links to the head of an outlawed movement Ankara accuses of fomenting a botched 2016 coup attempt.

Mongolian authorities on Friday grounded a suspected Turkish air force jet after witnesses said assailants snatched a man associated with the group headed by US-based preacher Fethullah Gulen.

Veysel Akcay, when asked who was behind his alleged abduction attempt, simply said: "I don't know."

The 50-year-old is director of a school in Mongolia that is alleged to be associated with Gulen, although teachers there denied the connection in response to questions by AFP.

"We're very uncomfortable with the fact that Friday's events... are being presented as a kidnapping operation," Turkish foreign ministry spokesman Hami Aksoy said in a statement.

"All such claims are false and we reject them."

As many as five men grabbed Akcay from outside his home in Mongolia's capital Ulaanbaatar Friday morning and threw him into a minibus, according to friends and eyewitnesses.

Mongolian vice foreign minister Battsetseg Batmunkh warned Turkish embassy officials on Friday that any attempt to abduct a person from Mongolia's territory would constitute "a serious violation of Mongolia's independence and sovereignty".

The plane in question eventually took off late Friday without Akcay on board.

The aborted coup in Turkey in July 2016 was blamed by authorities on the Gulenist movement -- a group outlawed as "terrorist" by Turkey -- and prompted the biggest purge in the country's modern history, including the detention of some 80,000 people.

Gulen denies any links to the coup bid and insists he leads a moderate Islamic group.

The interior ministry on Monday said 50 alleged Gulenists had been "delivered" to Turkey from the Turkish-speaking part of the island of Cyprus, according to the state-run Anadolu news agency.

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Top-20 index decreases by 2.65 percent www.montsame.mn

Ulaanbaatar/MONTSAME/ During the week spanning July 23 to July 27, 2018, MNT1,036,318,735.12 worth of securities were traded through 5 trading sessions on the MSE. The daily average MNT volume was MNT207.2 million.
Last week, a total of 40 companies’ 6,513,364 shares worth MNT 794,069,135.12 were traded.
In Government securities secondary market trading, 2,320 Government securities worth MNT 242,249,600 were traded.
As of July 27, 2018, total market capitalization of MSE is MNT 2,361,516,976,987.77. The TOP-20 index decreased by 2.65 percent to stand at 19345.19 units.

source: Mongolian Stock Exchange

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Erdenes Tavan Tolgoi JSC gains net profit of MNT373.3 billion www.montsame.mn

Ulaanbaatar/MONTSAME/ On July 30, B.Gankhuyag, CEO of ‘Erdenes-Tavan Tolgoi’ JSC, introduced a 2018 half-year report of the company.

In the beginning of his report, B.Gankhuyag, CEO of Erdenes Tavan Tolgoi JSC remarked, “Since our company established in 2010, we encountered a number of socio-economic and financial complications and coal price downs, which led us to be incapable to pay wages. Sometime, we even stopped mining operations, due to politicians’ decision. Today, we have overcome such difficulties. In other words, we will have financial opportunities and great future. The statistics indicates how the company is fulfilling its duty sufficiently before three million people of Mongolia, the shareholders of the company”.

ETT’s half-year report shows positive indications. According to first half of the year, the company exported 6.9 million tons of coal, earning MNT 953 billion that stands at 78 percent of the total planned revenue in 2018. The company paid MNT216.5 billion to the state budget as duty and fee. By doing so, the company has earned the net profit worth MNT373.3 billion.

As the ETT’s financial condition has improved, it has now been solvent to fund some of its projects with its own money. In addition, the company has created a fundamental economic condition to put 1072 shares of every shareholder into economic circulation, highlighted the company authorities.

The profit of the company is based on the coal price. The company held talks with Chalco Trading Hong Kong Co Limited. As a result, the both sides reached an agreement to raise the coal price to USD61 per ton and set it as the fundamental price. It ensures the company to keep distributing the coal at USD61 per ton, even if the coal price in the world market goes down. In case coal price goes above USD61, the company will raise the price in accordance with the world market price. Moreover, the supply price for coal being excavated at Western Tsankhi and other blocks is set by an open tender. This year, it has been set at USD70 per ton, which means price of coal being supplied except Chalco Trading Hong Kong Co Limited is USD70 and it led to net profit increase of the company.

Alongside the economic indicators, there has been improvement in social issues of employees. For instance, a basic salary of workers was raised by 21 percent, night work pay was increased by five-fold as well as labor safety incentive has been reached 15 percent.

As a preparation to make IPO at world capital market, the company started taking actions to collaborate with stock exchanges and financial and legal consultants and have its auditing done by international accredited organization.

Concluding the report, B.Gankhuyag said, “Our company has a total of 2,511,000 shareholders—Mongolian citizens. However, just 300 thousand people have their registration account opened and about 600 thousand have not authenticated their rights to own the shares. Therefore, we are working to intensify this issue.“

M.Unurzul

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President Kh.Battulga supports Third Neighbor Trade Act www.president.mn

Ulaanbaatar /MONTSAME/ President Kh.Battulga expresses full support and gratitude to the sponsors of the bipartisan H.R.6636, the Mongolia Third Neighbor Trade Act, which was introduced for consideration in the U.S. House of Representatives. Rep. Ted Yoho (R-FL-3), Rep. Dina Titus (D-NV-1), Rep. Don Young (R-AK-At Large), Rep. Mark Meadows (R-NC-11), Rep. Brian K. Fitzpatrick (R-PA-8), Rep. Elise M. Stefanik (R-NY-21), Rep. Jared Polis (D-CO-2), Rep. David E. Price (D-NC-4), Rep. William R. Keating (D-MA-9), and Rep. Dwight Evans D-PA-2) represent a broad political spectrum of support for Mongolia. Hopefully, the House and Senate will vote and approve this legislation.

Mongolia has consistently adhered to the principles of equality and mutual respect of interests in its foreign policy. This legislative bill is an important milestone to further strengthen Mongolia-U.S. alliance and demonstrates our bilateral cooperation that strengthens the economic security and democracy of Mongolia.

Last year, Mongolia celebrated 30 years of diplomatic relations with the United States. Our land is bordered by Russia and China, yet Mongolia refers to the United States as its ‘third neighbor’.

Total Mongolia-U.S. trade in 2012 measured a record USD 707 million, but in 2017 Mongolia exported only USD 9.4 million, while importing just USD 82.2 million in goods from the United States. There is much room for growth for both U.S. imports and Mongolian exports.

Mongolia has supported the U.S. efforts in Iraq and Afghanistan since 2003. This underlines our deep commitment to democracy, rule of law, human rights, and a robust free market economy.

Cashmere, fine wool obtained from cashmere goats, industry is essential to Mongolia’s economy. Over a third of the population of Mongolia works in the animal husbandry sector, and cashmere provides income and employment for the majority of these people. Agricultural products are Mongolia’s second largest export after the mining sector, and cashmere products constitute the biggest share in the agricultural exports.

In 2017, only 1,100 tons out of total of 9,400 tons raw cashmere, which is almost 50 percent of world cashmere, is processed within the country while the rest of 8,300 tons is exported mainly to China in raw without adding value. The United States buys nearly all of its cashmere products from China. Duty free treatment of Mongolian cashmere and other textile garments exports to the United States would facilitate increased trade with the U.S. and reduced Mongolian export dependence on one country and single sector of mining. This would allow Mongolia to diversify its trade and ensure its sustainable economic growth.

The development of Mongolia’s garment industry would also promote women’s employment and empowerment. Women have historically participated in Mongolia’s garment industry at high rates, and the garment industry has historically provided safe and stable employment for women in Mongolia.

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Mongolia's Tavan Tolgoi coal mine sees profits surge in H1, raising IPO prospects www.reuters.com

ULAANBAATAR, July 30 (Reuters) - Revenue from Mongolia’s giant Tavan Tolgoi coal mine surged in the first half of the year due to higher commodity prices and a big jump in coal exports, the project’s owner said on Monday, raising prospects for a planned overseas listing.

Tavan Tolgoi, located in the Gobi desert about 250 kilometres (155 miles) from the Chinese border, is one of the world’s largest coking coal mines, but it has not yet fulfilled its massive potential.

Development has been held back by financing and infrastructure challenges, as well as political disputes over the role played by foreign investors in Mongolia’s economy.

Gankhuyag Battulga, chief executive of the state-owned Erdenes Tavan Tolgoi JSC in charge of the project, told a press briefing that rising revenues and production could finally kickstart the mine’s expansion.

The project exported 6.9 million tonnes of coal in the first six months of the year, up 28 percent compared to the same period in 2017, while net profits increased 31 percent from the same period a year ago to reach 373.3 billion tugrik ($151.75 million).

“The increase in revenues allow us to finance some parts of the project,” said Gankhuyag, adding that the company has also restarted exploration after a long suspension, a move that could raise estimated reserves and overall market value.

The improvement in Tavan Tolgoi’s fortunes follows a resolution that Mongolia’s parliament passed to raise funds for the further development of the project on overseas stock exchanges.

Analysts said Tavan Tolgoi still needs to overcome the severe infrastructure problems in the remote south Gobi region, including the construction of a rail link to China, Mongolia’s main export market.

“Being profitable is only the first step. The railway issue is obviously the main hurdle to a successful IPO,” said Munkhdul Badral Bontoi, chief executive of Mongolia-based market intelligence group Cover Mongolia. ($1 = 2,460 tugrik) (Reporting by Munkhchimeg Davaasharav; Editing by David Stanway and Christian Schmollinger)

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