1 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      2 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      3 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      4 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      5 BIOGRAPHY OF TAVAN TOLGOI RESIDUAL COAL DEPOSITS WWW.ZGM.MN PUBLISHED:2018/07/16      6 NAGOYA BASHO LOSES LAST OF THREE YOKOZUNAS WWW.MONTSAME.MN PUBLISHED:2018/07/16      7 CHINA'S GDP HITS 6.7% IN Q2 OF 2018 WWW.CHINADAILY.COM.CN PUBLISHED:2018/07/16      8 US-CHINA TRADE WAR DIMS BRIGHT FUTURE FOR SEMICONDUCTORS WWW.ASIA.NIKKEI.COM PUBLISHED:2018/07/16      9 RIGHTS GROUPS URGE BETTER TREATMENT FOR MONGOLIA CHILD JOCKEYS WWW.REUTERS.COM PUBLISHED:2018/07/16      10 TPP CHIEF NEGOTIATORS TO MEET IN JAPAN WWW.NHK.OR.JP PUBLISHED:2018/07/16      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     1,5-2 САЯ ТӨГРӨГИЙН ЦАЛИНТАЙ ЖОЛООЧИЙН АЖЛЫН БАЙРНЫ БҮРТГЭЛ ЭХЭЛЛЭЭ WWW.ZINDAA.MN НИЙТЭЛСЭН:2018/07/16     ОЛОН МЯНГАН НИСЭХ ОНГОЦ ШИНЭЭР ҮЙЛДВЭРЛЭХ ШААРДЛАГАТАЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     КРИПТОВАЛЮТЫН ТАЛААРХ ХОРООНЫ БАЙР СУУРЬ ХЭВЭЭРЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/16     ОРОСЫН ЭДИЙН ЗАСГИЙН ӨСӨЛТӨД ДАШТ-2018 НӨЛӨӨЛӨХ НЬ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     ЗҮҮН ӨМНӨД АЗИ ХАНШАА ХАМГААЛЖ ЭХЛЭВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/16     АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРААС 400 ГАРУЙ САЯ ДОЛЛАР ОЛЖЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/16     МОНГОЛЫН ЭДИЙН ЗАСГИЙН БҮТЭЦ ЭМЗЭГ ХЭВЭЭР БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/10     МОНГОЛ, ВЬЕТНАМЫН ГАДААД ХАРИЛЦААНЫ ЯАМ ХООРОНДЫН ЗӨВЛӨЛДӨХ УУЛЗАЛТ БОЛОВ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/10    

Events

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

NEWS

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Boeing signs first major deal with Iran under Trump administration www.rt.com

 
Boeing has signed a $3.4 billion deal with Iran's Aseman Airlines to supply 30 737 MAX aircraft to the carrier. It’s the first Boeing deal with Tehran since President Donald Trump took office pledging to take a harder stance with the country.
 
Aseman is owned by Iran's civil service pension fund and operates as a private company. It is the third-largest carrier in Iran.
 
The 30 jets are to be delivered as part of a larger deal, which implies a possible delivery of another 30 planes to Aseman. Boeing described the deal as a "memorandum of agreement."
 
At current prices, the 30 jets are worth $3.4 billion. However, carriers usually enjoy about 50 percent discount for such deals. The deliveries will start in 2022.
 
President Trump has said he opposes the cancellation of Iranian nuclear sanctions. However, he has not talked about the aircraft sales reached after the nuclear deal, which are saving thousands of American jobs.
 
"According to the US Department of Commerce, an aerospace sale of this magnitude creates or sustains approximately 18,000 jobs in the United States," Boeing said in a statement on Tuesday.
 
The new agreement comes on top of the $16.6 billion deal Boeing signed with Iran under Barack Obama’s administration. Boeing has agreed to sell 80 aircraft to flag carrier IranAir under the contract.
 
In January, Iran signed a deal with Airbus to buy 118 jets from Airbus for an estimated €22.8 billion ($25 billion). Iranian officials later said the contract would be cut to 112 planes.
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DP working group established to assess budget amendment bill www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Today, DP group in parliament announced that it has established a working group to assess and make conclusion regarding a bill on amendments to 2017 state budget. The bill is scheduled to be discussed at the parliamentary spring session, to be opened tomorrow and DP group has an opposing position to increase budget expenditure and some tax rates.
 
“- The International Monetary Fund has made conclusion that current difficulties were caused by price drop of mining products, which is main column of the economy and foreign investment fall. Current economic condition should be reviewed again and income from mining should be calculated realistically. Price of mining products is increasing and the situation turns positively in favor of Mongolian economy.
 
Today, one ton of coal costs USD150 and copper USD6000 at the world market, while coal price was USD30 and copper USD3000, when DP was in power. Money is flowing into Mongolia. In this time, Mongolians should accurately consider what for to spend money. We must not transfer our financial rights to foreigners” said head of the DP group D.Erdenebat, who also chairs the working group.
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Transit Mongolia 2017 to be held in Beijing www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The Ministry of Road and Transport Development in cooperation with Ulaanbaatar Railway Joint Venture Company is going to organize a forum named ‘Transit Mongolia -2017’ on April 7 in Beijing, China, assembling government, transport and customs organizations and companies that are part of Mongolia-China-Russia rail transport to discuss the existing problems insightfully,
 
With the rail corridor through Mongolia being one of the international transportation corridors connecting Asia with Europe, the forum is considered highly significant due to its importance to development of transit transport between China and Russia and China and Europe.
 
In 2016, Ulaanbaatar Railway Joint Venture Company transported 2.3 million tons of transit freight which constitutes 11 percent of total freight transport and 24.5 percent of transport revenue.
 
The Transit Mongolia forum is being organized so as to increase the number of trains passing through Mongolian rail lines and amount of freight transported between Russia and China. The forum will see promotion of Mongolian rail corridor to transport companies from Russia and China and introduction of measures and policies being observed under the scope of ‘Mongolia-Russia-China Economic Corridor Program’.
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Amazon brings its business marketplace to Britain www.reuters.com

 
Amazon.com Inc on Tuesday launched its business marketplace in Britain, selling products like office supplies, power tools, cleaning materials and lab equipment targeting an online sector worth $120.44 billion a year.
 
Amazon started its business marketplace in the United States in April 2015, achieving $1 billion of sales in its first year, before launching in Germany four months ago.
 
It said Amazon Business would serve enterprises ranging in size from sole traders to multinationals, as well as universities, hospitals and charities.
 
The business-to-business online market in Britain was worth 96.5 billion pounds in 2015, according to Office for National statistics data.
 
 
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Hyundai Motor, Kia Motors cut China output amid diplomatic tensions: sources www.reuters.com

 
South Korea's Hyundai Motor Co and Kia Motors Corp have slashed vehicle production in China, sources said, as diplomatic tensions and competition from Chinese brands play havoc on sales and threaten earnings.
 
China, the world's biggest auto market, accounted for over a quarter of the pair's 2016 overseas sales but their March sales there were smashed by anti-Korean sentiment and competition from the likes of Geely Automobile Holdings Ltd.
 
Hyundai and Kia saw their combined China sales slump by 52 percent in March from a year earlier, Yonhap news agency reported on Tuesday, endangering not only the automakers' earnings but those of South Korean suppliers.
 
Political tensions have soared since late February when South Korea's Lotte Group agreed to provide land for a U.S. missile defense system outside Seoul. The move angered Beijing, although Seoul says the system is a response to North Korea's nuclear threat and is not aimed at China.
 
South Korean firms including Lotte Group have been targeted in a Chinese backlash involving boycott calls in state media, protests and suspensions of operations.
 
But analysts and sources said the row was just another headache for the South Korean carmakers, whose long-term challenge has been how to compete in China and the United States where their mainstay sedans have lost market share to sport utility vehicles.
 
"China is not the goose that lays the golden egg for Hyundai anymore,” said Lee Hang-koo, a senior research fellow at Korea Institute for Industrial Economics & Trade.
 
Hyundai's problems were a result of its "failed global strategy", he added.
 
SHIFT CUTS
 
Kia Motors has cut production shifts at its China factories, two of the sources familiar with the matter told Reuters. Hyundai also had eliminated a second shift from its three factories in Beijing starting mid-March, one of the people said.
 
The sources declined to be identified because the matter was not public. The automakers declined to comment on Tuesday.
 
Hyundai had already suspended output at its factory in Hebei from March 24 to April 4. It was unclear how the shift cuts would affect employment.
 
Hyundai Motor has four passenger car factories in China, with one more plant scheduled to commence production later this year. Kia, Hyundai's smaller affiliate, has three.
 
Poor consumer sentiment towards South Korean products in China had likely dragged down overseas sales in March, the companies said on Monday without putting a number on the falls. One source said Kia Motors' China sales likely more than halved in March from the year prior.
 
In the United States, Hyundai Motor posted a sales fall of 8 percent and Kia Motors slumped 15 percent in March from a year earlier. The U.S. market declined 2 percent in March.
 
Hyundai Motor shares fell 2.6 percent and Kia Motors declined 0.8 percent in the wider market, which was down 0.1 percent as of 0310 GMT.
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Chung Sye-kyun: “South Korea is willing to assist Mongolia” www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ South Korea is aware of the current economic constraints of Mongolia, as a partner bound by friendship, said Mr. Chung Sye-kyun, Speaker of the National Assembly of the Republic of Korea during a meeting with his Mongolian counterpart M.Enkhbold in Dhaka, Bangladesh.
 
Mr. Chung continued expressing satisfaction with the ever-growing ties between Mongolia and South Korea. “We are willing to assist Mongolia for overcoming the economic difficulties”, he said.
 
In response, Speaker of the State Great Khural of Mongolia M.Enkhbold said the last election has defined that governance will remain stable in the coming years, thus, Mongolia will overcome the economic difficulties in short time. “We are grateful to know that South Korea is willing to help Mongolia within the framework of the IMF program”, said Mr Enkhbold.
 
The dignitaries underlined the importance of expanding the economic and business cooperation and upgrading cooperation in other sectors through setting up more favorable legal grounds.
 
While mentioning that many Mongolian nationals live and work in South Korea, Mr. M.Enkhbold asked his counterpart to pay attention to protecting their interests and supporting them.
 
Mr. Chung invited Mr. Enkhbold to attend the meeting of the Eurasian parliamentary union expected in June in the Republic of Korea.
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Erdenet Mining Corp Board appoints new members www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ April 3, Monday saw the issue of Erdenet Mining Corporation being addressed by two sides with differing statements.
 
Last February, Parliament issued a resolution regarding full ownership of the copper plant by transferring the 49 percent ownership of Mongolian Copper Corporation to the Government, and during its regular meeting on March 29, the Cabinet resolved to form the Board of the plant with only government officials.
 
During the corporation's stockholders meeting last week, three Board Members representing Mongolian Copper Corp were discharged from the Board.
 
Replacing the three members, Z.Mendsaikhan, Secretary of State at the Ministry of Energy, A.Dagvadorj, Deputy Director of State Property Committee and D.Davaadorj, Deputy Head of Department of Policy Management at the Ministry of Mining and Heavy Industry were newly appointed to the Erdenet Board.
On this matter, Ts.Purevtuvshin, CEO of Mongolian Copper Corp and M.Munkhbaatar and D.Ganbold, former Board Members of the Erdenet Mining Corporation expressed their stance on the matter saying, “We’ve been informally told that Erdenet Mining Corporation is in full ownership of the Government”. “Erdenet Mining Corporation has been registered as a government entity. But according to relevant laws, an object mustn’t be registered while there is an objection”, said D.Ganbold.
 
The Mongolian Copper Corporation representatives
 
The Mongolian Copper Corp representatives also mentioned about a reported appointment of 8 deputy directors at the Erdenet copper plant which was denied by representatives of the Board of Erdenet Mining Corporation later.
 
However, the Board of Erdenet Mining Corporation responded quickly by expressing their official stance with a statement, "Erdenet plant is a government-owned company. Erdenet Mining Corporation became 100 percent government-owned with the acquisition of a registration certificate".
 
Some members of the Board of Erdenet Mining Corporation and Chairman of the Board U.Byambasuren were present at the press briefing to make the statement.
 
“The Government is taking all possible measures to maintain the plant’s benefits, and improve its financing”, said Chairman U.Byambasuren who also officially informed that structural change will be made within the corporation.
"Appointment of 8 deputy directors is not on agenda", he said. "However, we will make necessary changes within the structure of the company. But those who are just doing their job don't have to worry", he assured.
 
The Board members also stated that the stockholders meeting proceeded legally.
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Intl. audit regulators establish base in Tokyo www3.nkh.or.jp

 
The first global financial watchdog based in Tokyo has opened. Japanese officials hope to boost the country's profile as Asia's financial center by hosting the organization.
 
The International Forum of Independent Audit Regulators opened a Permanent Secretariat in central Tokyo. Hundreds of people gathered there on Monday to celebrate the occasion.
 
The group's membership spans 52 countries and territories, including Japan and the US.
 
Japanese officials convinced other members to allow it to host a permanent headquarters. Until now, members have taken turns hosting the bureau.
 
Japanese authorities have been trying to improve the quality of auditing since Toshiba's auditing firm failed to detect accounting irregularities at the struggling electronics maker for years.
 
In March, officials at the Financial Services Agency compiled guidelines for auditing firms to follow.
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Increased Russian gas exports to Europe www.rt.com

 
The Russian national gas company Gazprom has reported a 3.3 percent increase in sales to Europe in March. There has been a surge in sales to Turkey, Serbia, and Bulgaria.
 
"In March, Gazprom's deliveries to foreign partners increased by 3.3 percent (496 million cubic meters) compared with March 2016," the company said in a statement.
 
"The countries that will be able to deliver Russia gas through the Turkish Stream have shown good dynamics of growth in demand. For example, exports to Turkey increased by 51 percent, to Serbia by 37.6 percent and to Bulgaria by 19.4 percent," Gazprom added.
 
The Turkish Stream pipeline is intended to deliver gas from the Russian Black Sea coast to Turkey and on to Greece. The project was shelved in 2015 after Turkey shot down a Russian warplane in Syria, but the recent rapprochement between Moscow and Ankara has given the pipeline new life.
 
With a capacity of 32 billion cubic meters (bcm) per year, Turkey would take about 14 bcm, with the rest going to Europe.
 
Gazprom intends to build the pipeline by 2019. Last week, the Russian company opened a subsidiary in Istanbul, South Stream Transport B.V., to speed up construction.
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Mongolian parliament chairing IPU Asia-Pacific Group www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Chairman of the State Great Khural of Mongolia M.Enkhbold has been elected as a chairman of the Asia-Pacific group of the Inter-Parliamentary Union (IPU) and is chairing the group’s meeting during the 136th IPU Assembly taking place in Dhaka, Bangladesh on April 1-5.
 
On this, member of parliament D.Lundeejantsan said that the event has expressed the increased rating of Mongolian parliament at international level.
 
He continued “The IPU Assembly regularly discusses the issues of relations between governances and peoples. There is a concept about self-assessment among parliaments. The self-assessment criteria are enforced jointly by the United Nations and the Inter-Parliamentary Union. This year’s Mongolian delegation came up with an initiative to realize these criteria in own legislature”.
 
As for the Foreign Minister, Mr Ts.Munkh-Orgil said “Speaker of Mongolian Parliament M.Enkhbold is fulfilling an important duty as the chairman to collect and process the initiatives, requests and recommendations from IPU members from Asian and Pacific regions during the 136th Assembly. The Asia-Pacific group, comprising 33 parliaments of countries, such as Japan, China and Australia, is one of the 6 main groups within the IPU. Being elected the chair of such a powerful group must indicate the level of prestige of Mongolia in the world, as well as it shows that M.Enkhbold is an experienced and renowned parliamentarian.
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