1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     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    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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IMF to upgrade Japan's projected growth www3.nhk.or.jp

 
Officials at the International Monetary Fund are compiling their growth forecasts ahead of the G20 summit on April 20th.
 
They've indicated that Japan's GDP will expand from 1 to 1-and-a-half percent this year.
 
That's higher than their previous estimate in January of 0.8 percent. They say firm exports will likely be the main contributor.
 
IMF officials are also looking to upgrade Britain's GDP growth outlook from 1-and-a-half percent to around 2 percent.
 
The IMF will also warn against protectionist policies around the world, which they say could dampen global growth.
 
The officials say other future risks include rising numbers of migrants due to civil wars in Syria and Africa.
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Technology & investment Mongolia expo to be held www.mongolia.gogo.mn

 
“Technology and Investment to Mongolia”-2017, an annual International technology exhibition and conference will take place on April 20-21 at Shangri-La Hotel, Ulaanbaatar. The exhibition’s unique mission is to introduce the cutting edge technology to priority 10 sectors including infrastructure, construction industry, mining industry, city and rural planning, environmental technology, renewable energy, agriculture, industry sector, energy sector and financial sector. Moreover, the expo will feature international investors as well as focus on the investment.
International top companies from Austria, German, Switzerland, French, and South Africa will introduce their products at the expo.
 
Moreover, the expo is offering its participants a direct access to the Government of Mongolia through its Government Hour event. The Organizing Committee will accept questions and comments from various participants. All questions will be directed to the respective government body in advance of the event hence giving ample time for appropriate officials to prepare to address the issue in a constructive way during the Government Hour.
 
“Technology & Investment to Mongolia”-2017 exhibition is welcoming the representatives of Construction, Urban Development, Mining, Renewable Energy, Food processing and General Aviation sectors. Registration is now open at www.tim.mn
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China offers concessions to avert trade war with U.S.: FT www.reuters.com

 
China will offer the Trump administration better market access for financial sector investments and U.S. beef exports to help avert a trade war, the Financial Times reported on Sunday, citing officials familiar with the matter.
 
China is prepared to raise the investment ceiling in the Bilateral Investment treaty and is also willing to end the ban on U.S. beef imports, the newspaper also reported.
 
"China was prepared to (raise the investment ceilings) in the BIT but those negotiations were put on hold (after Trump's election victory)," the Financial Times also reported citing a Chinese official involved in the talks.
 
U.S. Commerce Secretary Wilbur Ross said on Friday that President Donald Trump and Chinese President Xi Jinping have agreed to a new 100-day plan for trade talks on Friday.
 
The U.S. trade department was not immediately available for comment while the China's ministry of commerce could not be reached for comment.
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Shell corruption probe: New evidence on oil payments www.bbc.com

 
The BBC has seen evidence that top executives at Shell knew money paid to the Nigerian government for a vast oil field would be passed to a convicted money-launderer.
It also had reason to believe that money would be used to pay political bribes.
The deal was concluded while Shell was operating under a probation order for a separate corruption case in Nigeria.
Shell said it did not believe its employees acted illegally.
OPL 245 is an oilfield off the coast of Nigeria whose estimated nine billion barrels of oil are worth nearly half a trillion dollars at today's prices. Shell has been active in Nigeria for nearly 60 years and was keen to acquire the field.
New evidence shows just how far Shell was prepared to go to get its hands on it.
Standing between Shell and its prize was Dan Etete, whose company acquired the rights to OPL 245 for a tiny sum while he was oil minister of Nigeria. He was later convicted of money laundering in a different case.
Shell and the Italian oil company ENI eventually acquired OPL 245 in 2011 - by paying $1.3bn to the Nigerian government. That's more than the entire health budget of Nigeria but it didn't get spent on public services.
The government promptly passed on more than $1bn of the money to a company called Malabu, which was controlled by Dan Etete.
Emails obtained by anti-corruption charities Global Witness and Finance Uncovered, and seen by the BBC, show that Shell representatives were negotiating with Etete for a year before the deal was finalised.
In March 2010, an email from a former MI6 officer employed by Shell shows the company believed Etete stood to benefit from the deal.
"Etete can smell the money. If, at 70 years old, he does turn his nose up at 1.2 bill he is completely certifiable and we should then probably just hold out until nature takes its course with him."
That email was forwarded to the then Shell chief executive Peter Voser - one of the most powerful men in the oil business - showing knowledge of Etete's involvement went right to the top.
Representatives of Peter Voser declined to comment.
Shell also had good reason to suspect that hundreds of millions would end up in the pockets of Nigerian politicians including the former President Goodluck Jonathan.
In an email from July, the same Shell employee says Etete's negotiating strategy is "clearly an attempt to deliver significant revenues to GLJ [Goodluck Jonathan] as part of any transaction."
Italian prosecutors allege that $466m were laundered through a network of Nigerian bureaux de change to facilitate payments to President Jonathan and other politicians.
A spokesperson for Goodluck Jonathan told the BBC that no charges or indictments have been brought or secured against the former president relating to this transaction and described the allegations as a "false narrative".
The BBC is still awaiting comment from Dan Etete, but in the past he has previously denied any wrongdoing.
The controversy around this deal has attracted the attention of law enforcement agencies in Italy and the Netherlands.
In February of 2016 Shell's offices in the Hague were raided and documents removed.
On the day of the raid, the current chief executive, Ben van Beurden called the now former chief financial officer Simon Henry to discuss the raid. That call was recorded by Dutch law enforcement officials and has been heard by the BBC.
On that call, Ben van Beurden said that Shell's own investigation had turned up correspondence from the former MI6 officers which he described as "just pub talk in emails which was stupid but nevertheless it's there" and acknowledged they were "really unhelpful".
'Doubled down'
The emails the BBC has seen seem more than pub talk. They seem to show that a number of Shell executives were aware that a company controlled by Etete would ultimately receive over a billion dollars and were advised by their own employees that the money was likely to end up being paid in political kickbacks.
In a statement Shell said it did not believe that any current or former employees had acted illegally. ENI did not respond to the BBC's request for comment but has previously stated it did not believe that the company or its ENI personnel had been involved in any wrongdoing.
It should be remembered that this deal was concluded just months after Shell had paid $30m to settle previous allegations of bribery in Nigeria and elsewhere.
As part of a deal to spare the company a damaging criminal conviction in that case, Shell agreed to what was, in effect, a probation order, by giving an undertaking to the US Department of Justice to tighten up its internal controls in order to stay in compliance with America's tough anti-corruption laws.
The question for Shell is what on earth were they doing negotiating with a convicted money launderer, who they suspected might pass the money to the president, months after reaching a previous bribery settlement in the same country.
Matthew Page worked for the US State Department in Nigeria for 15 years. He told the BBC: "At a time when Shell should have been cautious having just settled a previous case, rather than walk away from a deal with clear corruption risks, they doubled down."
Italian courts will decide whether to proceed with criminal proceedings against Shell and its partner ENI on 20 April.
Corruption may be a stubbornly regrettable fact of life in Nigeria. And it may very difficult to drill for oil there without buying access through corrupt payments to politicians. Western companies - and their investors - have to decide if that is a price worth paying.
Law makers will have to decide whether the weapons they have to stop it are sufficient to deter it.
 
 
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WHO calls for better depression awareness www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 7, World Health Day which was themed 'Depression: Let’s Talk', the World Health Organization in cooperation with the Ministry of Health organized a meeting at the Ministry of Foreign Affairs.
 
Health Minister A.Tsogtsetseg was present at the meeting and remarked, “Mental health especially concerning depression is everyone’s problem to certain extent. We will work with the World Health Organization in realizing the objectives set by its Comprehensive mental health action plan 2013-2020”.
 
It is considered that mental illness awareness rate isn’t particularly high in Mongolia. On average, National Center for Mental Health of Mongolia renders assistance to some 40 thousand people a year, 6 thousand of whom receive in-hospital treatment. In that, some 1800-2000 patients were diagnosed with depression and other similar problems.
 
During the ‘Depression: Let’s Talk’ meeting, a documentary made with the support of the World Health Organization reflecting the state and consequences of depression in Mongolian society was screened.
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6th Mongolia London Business Forum takes place www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The Mongolian British Chamber of Commerce in cooperation with Mongolian Embassy in London successfully organized the 6th Mongolia London Business Forum on April 5 in the capital of the UK, gathering more than 200 participants made of government officials from both countries, private sector representatives and researchers.
 
During his opening speech, Ambassador of Mongolia to the UK S.Bayar emphasized on how the high number of participants from government, private sector and academia makes way for active exchange of information and opinion on various matters.
 
Secretary of State at the Ministry of Foreign Affairs D.Davaasuren was introduced by the Ambassador and reported on the economy and investment climate of Mongolia, the Government’s policy, measures and targets.
 
Through sessions themed ‘Investing in Mongolia’ and ‘Doing Business in Mongolia’, representatives of organizations and companies such as the Mongolian Finance Ministry, Mongolian Stock Exchange, London Stock Exchange, the European Bank of Reconstruction and Development, ‘Asia Pacific Investment Partners’, ‘What3words’, ‘Thomas Air’ and Mongolian Business Database discussed bilateral relationship in economy and commerce.
 
On the sidelines of the forum, State Secretary D.Davaasuren visited the London Stock Exchange.
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Deputy Road Minister meets Chinese Railway chief www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The People’s Republic of China has expressed willingness to increase transit transport of Mongolia, reports the Ministry of Road and Transport Development.
 
The Ministry of Road and Transport Development in cooperation with Ulaanbaatar Railway Joint Venture Company is organizing a forum named ‘Transit Mongolia -2017’ on April 7-8 in Beijing, China. The two-day forum assembles government, transport and customs organizations and companies that are part of Mongolia-China-Russia rail transport to discuss the existing problems insightfully.
 
On the sidelines of the meeting, Deputy Minister of Road and Transport Development B.Tsogtgerel met with Lu Dongfu, General Manager of China Railway Corporation to exchange views on transit freight between Erenhot and Tianjin seaport, increase of freight passage to Mongolia, tariff discount and Tavantolgoi-Gashuunsukhait, Khuut-Bichigt and Khangi-Mandal railways.
 
The Deputy Minister talked about the importance of the forum in increasing freight passage through the rail corridor of Mongolia, China and Russia, and requested the Chinese side to study possibilities for tariff discount on Erenhot-Tianjin rail freight transport.
 
General Manager Lu Dongfu expressed that he will look into the matter and pay attention to transit transport through Tianjin seaport. Since there will be a need to improve the basic structure of railway as freight turn-over increases, sides agreed to intensify their cooperation.
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A 'solar boom' is coming to India. Here's what that means www.weform.org

 
India is betting big on renewable energy and solar companies are taking notice.
 
SunPower CEO Tom Werner said India is about to become the biggest market for solar energy, primarily because of Prime Minister Narendra Modi's interest in growing the sector.
 
"The market that’s going to boom is India," Werner told Business Insider. SunPower, the second biggest solar installer in the US, is owned by European oil giant Total.
 
Modi wants to spend 210 billion rupees ($3.1 billion) on state aid for India's solar panel manufacturing industry to increase India's photovoltaic capacity and create an export industry, according to Bloomberg. Called the Prayas initiative, short for Pradhan Mantri Yojana for Augmenting Solar Manufacturing, the plan has not yet been made public.
 
India's government plans to draw 40% of the country's energy from renewables by 2030. In India, where 300 million people aren't connected to the electrical grid, solar energy serves as an affordable way for Indians to produce their own power.
 
In November, India built the world's largest solar plant that can produce enough energy to power roughly 150,000 homes.
 
The Indian government's commitment to solar energy is why the country is likely to see the biggest growth in the near term, Werner said.
 
SunPower has already partnered with Mahindra EPC, a solar subsidiary owned by Indian conglomerate Mahindra Group, to build a 5-megawatt solar plant in Rajasthan, India. The plant generates enough electricity to power 60,000 rural homes.
 
Werner didn't disclose whether SunPower has any upcoming projects in India, but said the market will become increasingly more important in the future.
 
SunPower isn't the only company taking note — Tesla is also eyeing India and could enter the market as early as this summer, CEO Elon Musk tweeted earlier in February. Tesla acquired SolarCity in a deal worth $2.1 billion in November and is continuing to expand its battery division.
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Memorandum of cooperation between Mongolia and Italy signed www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Mongolia-Italy Intergovernmental Commission's second joint meeting was held on April 6 in Ulaanbaatar. The meeting was attended by the Mongolian officials led by Minister of Food, Agriculture and Light Industry P.Sergelen and Italian delegates led by Ivan Scalfarotto, Undersecretary for International Trade and Investment Attraction in the Ministry of Economic Development of Italy. Among the delegation was Dorina Bianchi, State Secretary at the Ministry of Cultural Heritage, Activities and Tourism of Italy.
 
During the meeting, both sides made statements on the current state of socio-economy, foreign and development policies of their respective country and exchanged views on further cooperation of trade and economy. Under this framework, they agreed to cooperate in food, agriculture, light industry, health, energy, environment, education, culture, science, road transport, construction and urban development sectors, creating mutually beneficial relations in terms of exporting final products manufactured with Mongolian raw materials under Italian advanced technology. Furthermore, certain topics concerning collaboration of small and mid-sized enterprise development, practice exhange and special conditions on Italian technologies were discussed.
 
Two sides concluded the meeting by signing a memorandum of cooperation between Mongolian Ministry of Food, Agriculture and Light Industry and Ministry of Economic Development of Italy.
 
On the occasion of the Intergovernmental Commission meeting, business forum among the private entities of both countries in food, agriculture and light industrial sectors was held on April 5.
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IDC Day Roadshow 2017 arriving in Mongolia www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ International Data Corporation (IDC) is bringing IDC Day Roadshow to Ulaanbaatar, Mongolia on April 12, IDC’s representative office in Kazakhstan announced.
 
The event will take place at the Kempinski Hotel Khan Palace. According to IDC’s global predictions, by the end of 2017, two-thirds of top CEOs will consider digital transformation as a key element of corporate strategy.
 
Keynote speakers of the event include Steven Frantzen, Senior Vice President, EMEA Region; Managing Director, CEMA Region at IDC, Robert Farish, Vice President at IDC Russia and CIS and Andrew Beklemishev, Regional Manager, IDC Central Asia, Azerbaijan and Mongolia. The event’s agenda will revolve around Next-Gen Security, the Modern Datacenter and Empowered Cloud.
 
The IDC Day event series aims to create a platform for networking and experience sharing between IT experts, leading IDC analysts, and market players.
 
The first IDC Day Roadshow is of particular interest to CIOs/CTOs, CEOs, IT Director, IT Managers, security directors and security managers, infrastructure architects, system software managers, security analysts and procurement and project managers. Those interested may visit idc-day.com/ulan_bator for more information and registration.
 
 
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