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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Satellite town to be built near new airport www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Yesterday, Speaker of the Parliament M.Enkhbold got acquainted with development process of a new airport in Khushigt Valley hondii valley in Sergelen soum of Tuv aimag.
 
The construction work of the airport started on June 25, 2013 and is now fully completed. However, some works have not been finished due to financial shortage to be provided by the Mongolian side. “ - This airport is our gate to abroad and face of the country. We should fulfill our duty, solving financial issues for including construction of power station which should supply the airport with energy. Some parts of the finance have been already included in the state budget. Relevant ministry pays attention to intensifying works” he said.
 
The speaker also noted that even though over 30 buildings and facilities have been completed, the airport cannot start commissioning in scheduled time of 2017 as preparations for making flights need to be satisfied. The airport will most likely start its operation and receive passengers in May of next year after completing installation and testing of necessary facilities and equipment as well as some furnishing works.
 
“- A satellite town will be built near the airport. The Government approved a general plan of satellite town with population of 80-100 thousand in June, 2012. That time I was working as Deputy Minister. However, no work has been done to realize it for the last four years. I hope big progress will be made now. When the airport starts its operation, 2000 persons will be employed at the first stage. Therefore a satellite town is necessary” said speaker M.Enkhbold.
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Olon Ovoot port expanded to increase coal export www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ “The expansion of Olon Ovoot port will help increase income from coal and employment in Mongolia”, remarked D.Ganbat, Minister of Road and Transport Development D.Ganbat as he attended an official inauguration ceremony of an expanded terminal built at Olon Ovoot port, Dornogobi aimag on March 23.
 
Mongolia had begun testing rail transport of coal from the Olon Ovoot port to Chinese Tianjin port, the closest sea port of the People’s Republic of China to Mongolia.
 
In response to increase coal demand from China, Ulaanbaatar Railway Joint Venture in cooperation with the Ministry of Road and Transport Development expanded the Olon Ovoot port by building the first unit of its terminal within 20 days, making possible the transport of 100-150 wagon coal which would increase Mongolia’s coal export to its southern neighbor by 200 thousand tons a month and 2.5 million tons a year.
 
The terminal’s construction was co-realized with private sectors from November 6 to December 21, 2016, using MNT 1.4 billion investment. More than 20 thousand tons of cargo has been transported in 2017 since its construction.
 
The second rail line will be constructed from April to June this year, and when in full operation, the Olon Ovoot terminal will be capable of transporting 300-wagon or 19,500 tons of cargo. The Olon Ovoot port of Dornogobi aimag was set up in 1974.
 
Those present at the inauguration ceremony included Yang Qingdong, Charge d’affaires at the Chinese Embassy in Mongolia and D.Jigjidnyamaa, Director of Ulaanbaatar Railway Joint Venture.
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New procedure for exploration licenses to be adopted www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On March 23-24, the annual ‘Mongolian Geology and Exploration’ conference, initiated by the Society of Economic Geologists is gathering geologists for the 9th time this year.
 
Attended by representatives of mining companies, international associations, investors and the Mongolian Ministry of Mining and Heavy Industry, the conference serves as a platform for discussion on geology, mining, legal environment surrounding and government policy on minerals at Corporate Hotel & Convention Center.
 
In his opening speech, Deputy Minister of Mining and Heavy Industry D.Zagdjav defined the purpose of the conference as introducing the output of the works of Mongolian geologists, strengthening cooperation between government and private sectors, and attracting foreign and domestic investment.
 
The Ministry of Mining and Heavy Industry is also planning to begin following a new procedure for the issuance of exploration licenses which will introduce new policies such as giving special permissions based on the exploration plans and amount of investment and allowing both domestic and foreign entities to submit applications.
 
Presently, some 15 geological research works are ongoing as MNT 9.3 billion was allocated from the 2017 state budget for basic geological researches.
 
“Compared to last year, investment in mining is increasing, and it has been estimated that mining sector will accumulate MNT 13.3 billion in state budget this year”, said M.Enkhjargal, Deputy Director of Mineral Resources and Petroleum Authority of Mongolia.
 
In conjunction with the ‘Mongolian Geology and Exploration’ conference, side events like announcement of mineral exploration and exploitation projects, business meeting of investors, ‘Mongolian landscape through the lenses of explorers’ photography exhibition and ‘The finest of minerals and rocks’ exhibition are also being held.
 
Organizers of the annual conference include the Ministry of Mining and Heavy Industry, Mineral Resources and Petroleum Authority, General Authority of Specialized Inspection, Mongolian University of Science and Technology and National University of Mongolia.
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Austria doubles cash offer for migrants to leave country www.rt.com

 
As part of a campaign to speed up the repatriation of around 50,000 asylum seekers, Vienna said it would double the amount of money paid to migrants who voluntarily return home.
 
They would be paid €1,000 ($1,080) to leave the country instead of the €500 previously offered.
 
Austria's Interior Minister Wolfgang Sobotka said the plan is primarily targeting "those who are not likely to be granted the right to long-term residence."
 
The payment offer is currently only available to the first 1,000 interested people who have already filed an asylum application.
 
It is primarily aimed at nationals from Iraq, Iran, Afghanistan and sub-Saharan countries, excluding people from neighboring Balkan countries.
 
With a population of 8.7 million people, Austria has received more than 130,000 asylum applications since 2015.
 
Official figures showed about 10,700 refugees left the country last year, including 5,800 by choice.
 
"The advantage of voluntary returns is that they are less traumatic," said Bernd Wachter of Caritas Austria, the Catholic Church's humanitarian organization which works closely with refugees.
 
"They allow you to better organize the reintegration in the country of origin," he told AFP.
 
Austria is among the countries hardest hit by the EU refugee crisis, with thousands of migrants and asylum seekers making their way toward central Europe.
 
According to Defense Minister Hans Peter Doskozil, up to 1,000 refugees and migrants enter the country every week.
 
Austrian Foreign Minister Sebastian Kurz has criticized the EU refugee quota plan, calling it “totally unrealistic.” The distribution of refugees by EU quotas doesn’t function because many countries are not ready to receive a high number of asylum seekers, he said. The situation with refugees in the EU is aggravated by the fact that migrants prefer certain countries to stay, Kurz added.
 
Austria’s government has capped asylum applications at 35,000 for 2017, announcing plans to strengthen surveillance and security measures, ban full-face veils in public and oblige migrants to sign an "integration contract."
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Russia's banking system has SWIFT alternative ready www.rt.com

 
If the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is shut down in Russia, the country’s banking system will not crash, according to Central Bank Governor Elvira Nabiullina. Russia has a substitute.
 
"There were threats that we can be disconnected from SWIFT. We have finished working on our own payment system, and if something happens, all operations in SWIFT format will work inside the country. We have created an alternative," Nabiullina said at a meeting with President Vladimir Putin on Wednesday.
 
She also added that 90 percent of ATMs in Russia are ready to accept the Mir payment system, a domestic version of Visa and MasterCard.
 
Izvestia daily reported that as of January 2016, 330 Russian banks had been connected to the SWIFT alternative, the system for transfer of financial messages (SPFS).
 
In 2014 and 2015, when the crisis in relations between Russia and the West were at their peak over Crimea and eastern Ukraine, some Western politicians urged disconnecting Russia from SWIFT.
 
In November 2015, Nabiullina said the SPFS was close to being completed.
 
The central bank’s website says the system was established “as an alternative channel for interbank cooperation with the aim of ensuring the guaranteed and uninterrupted provision of services for the transmission of electronic messages on financial transactions.”
 
At present, the system has some drawbacks. It doesn’t work from 9pm to 5am Moscow time and costs up to five cents per wire transfer, which is regarded expensive.
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Alibaba to set up e-commerce hub in Malaysia www.chinadaily.com.cn

 
KUALA LUMPUR - China's e-commerce giant Alibaba group on Wednesday announced a plan to set up an e-commerce hub in Malaysia encompassing logistics, cloud-computing and e-financial service to boost trade and e-commerce in the region.
 
The e-commerce hub will be part of the collaboration between Alibaba and the Malaysian government in the development of a Digital Free Trade Zone (DFTZ) in Malaysia, in line with the Electronic World Trade Platform (eWTP) promoted by Jack Ma, Alibaba's executive chairman.
 
In launching the DFTZ with Malaysian Prime Minister Najib Razak, Ma said its first overseas e-hub would be aimed at empowering small and medium enterprises (SMEs) as well as the younger generation.
 
"This is the first hub specifically designed for small business and young people," he said. "And we are going to use new technology to empower small business and young people."
 
"There will be a logistics hub, we got one-stop service, we have got big data. As long as you have a good product, you have a good idea, this facility is going to enable you," he said.
 
For his part, Najib said Alibaba is the "perfect partner" for Malaysia to develop its digital economy.
 
Among the cooperation announced on Wednesday, Alibaba's logistic platform Cainiao and its e-commerce website Lazada will lead the effort to develop a regional e-commerce and logistics hub near the Kuala Lumpur International Airport.
 
The initial phase is currently expected to roll out before the end of 2017 by Alibaba, Cainiao, Lazada and Post Malaysia, leading to the planned formal launch by the end of 2019.
 
Alibaba Cloud, its cloud computing arm, will build a cloud platform in Malaysia to foster the local SMEs, while Ant Financial inked an agreement with Malaysia's leading banks CIMB bank and Maybank to explore collaboration opportunities in e-payment and financing services in Malaysia, with an initial focus on inbound Chinese tourism and promoting trade by Malaysian SMEs.
 
Daniel Zhang, chief executive of Alibaba Group, said Malaysia is chosen as Alibaba's regional logistics hub for its location as well as the fact that the two sides share the same vision.
 
"Globalization is Alibaba's long term strategy and today is an important milestone," said Zhang.
 
Neither Zhang nor Ma gave specific amount of investment that Alibaba plans to make in Malaysia, but Zhang said the group is committed to investing and developing the hub while drawing the long-term plan with the Malaysian side.
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Toyota, NTT to cooperate on connected cars www3.nhk.or.jp

 
Two of Japan's largest companies are partnering to take self-driving cars to the next level. Sources say Toyota Motor and telecom giant NTT will develop "connected cars" that use NTT's high-speed wireless technology.
 
NTT is currently developing the 5th generation mobile network, which is promising data transfer speeds 10 times faster than now.
 
"5G" is expected to improve the self-driving system. It will allow cars to exchange data with other vehicles and sensors along roads, in real time. Passengers will be able to watch high-definition videos.
 
Toyota is already working with another Japanese telecom firm, KDDI, to develop connected cars.
 
Executives at the carmaker hope to speed up development with their latest tie-up with NTT.
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China's ZTE Corp pleads guilty in U.S. court in sanctions case www.reuters.com

 
Chinese telecom equipment maker ZTE Corp (000063.SZ) (0763.HK) on Wednesday pleaded guilty in U.S. federal court in Texas for conspiring to violate U.S. sanctions by illegally shipping U.S. goods and technology to Iran.
 
The guilty plea was part of an agreement the company reached earlier this month with U.S. authorities that also called for nearly $900 million in fines and other penalties.
 
U.S. District Judge Ed Kinkeade in Dallas accepted the company's plea to three charges: conspiring to export American-made items to Iran without a license, obstructing justice, and making a material false statement.
 
Shenzhen-based ZTE has a U.S. subsidiary in Richardson, Texas.
 
A five-year investigation found ZTE conspired to evade U.S. embargoes by buying U.S. components, incorporating them into ZTE equipment and illegally shipping them to Iran.
 
ZTE, which devised elaborate schemes to hide the illegal activity, agreed to the guilty plea after the U.S. Department of Commerce took actions that threatened to cut off the gear maker's global supply chain.
 
The investigation followed reports by Reuters in 2012 that ZTE had signed contracts to ship millions of dollars' worth of hardware and software from some of the best-known U.S. technology companies to Iran's largest telecoms carrier.
 
As part of the deal, ZTE will be under probation for three years and agreed to cooperate with authorities in any investigation of the company or third parties. The judge appointed a former Texas judge to monitor ZTE's compliance.
 
The company settled with the U.S. Department of Justice, the U.S. Department of Treasury and the Commerce Department in early March.
 
In addition to $892 million it agreed to pay in fines and penalties, an additional penalty of $300 million could be imposed if it does not comply with its agreement with the Commerce Department over the next seven years.
 
One of the world's biggest telecommunications gear makers, ZTE purchases some $2.6 billion worth of components a year from U.S. firms, according to a company spokesman. Qualcomm (QCOM.O), Microsoft (MSFT.O) and Intel (INTC.O) are among its suppliers.
 
It also sells handset devices to U.S. mobile carriers AT&T Inc (T.N), T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N).
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Snap pops 9 percent after winning second 'buy' recommendation www.reuters.com

 
Shares of Snap Inc (SNAP.N) jumped 9 percent on Wednesday after the owner of messaging app Snapchat received a second analyst "buy" rating following a red-hot public listing this month and with Wall Street skeptical about its lofty valuation.
 
The listing on March 1 was the largest by a technology firm in three years, but trading has been volatile, with many investors critical of lack of profitability and decelerating user growth.
 
Snap's stock was up 7.1 percent at $21.84 early Wednesday afternoon and traders bought call options contracts at the fastest pace since they first became available on March 10, according to options analytics firm Trade Alert.
 
A call conveys the right to purchase shares at a fixed price and is usually used to bet on share price gains.
 
In the newest vote of confidence for Snap, Drexel Hamilton analyst Brian White on Tuesday launched coverage with a "buy" rating and a $30 target price.
 
"We view Snap as a platform for the imagination that unlocks the creativity of its users and allows uninhibited expression with friends. Snap is a fun place to spend time which can be monetized," White wrote in a note to clients.
 
The Los Angeles-based company's app, which allows users to share short-lived messages and pictures, is popular with young people but faces intense competition from larger rivals such as Facebook Inc's (FB.O) Instagram. Snap has warned it may never become profitable.
 
Based on the analysts' average buy, sell and neutral recommendations, Snap has the second-worst rating among 282 U.S. companies that have a market capitalization of at least $20 billion, according to Thomson Reuters data. The worst-rated is Sprint Corp (S.N).
 
Most analysts do not expect the stock to rise over the next year.
 
Including White, two analysts now recommend buying Snap's stock, while five recommend selling, and four have "neutral" ratings, according to Thomson Reuters data. Their median price target is $21.
 
In its first two days of trading, Snap surged 59 percent from its $17 initial public offering price.
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London-Paris electric flight 'in decade' www.bbc.com

 
A new start-up says that it intends to offer an electric-powered commercial flight from London to Paris in 10 years.
Its plane, yet to go into development, would carry 150 people on journeys of less than 300 miles.
Wright Electric said by removing the need for jet fuel, the price of travel could drop dramatically.
British low-cost airline Easyjet has expressed its interest in the technology.
"Easyjet has had discussions with Wright Electric and is actively providing an airline operator's perspective on the development of this exciting technology," the airline told the BBC.
However, significant hurdles need to be overcome if Wright Electric is to make the Wright One, pictured above, a reality.
The company is relying heavily on innovation in battery technology continuing to improve at its current rate. If not, the firm will not be able to build in enough power to give the plane the range it needs.
Industry experts are wary of the company's claims. Graham Warwick, technology editor of Aviation Weekly, said such technology was a "long way away".
"The battery technology is not there yet," he told the BBC.
"It's projected to come but it needs a significant improvement. Nobody thinks that is going to happen anytime soon. And there's all the [safety] certification - those rules are yet to be created, and that takes time."
The company is yet to produce a plane of its own and is instead working alongside American inventor Chip Yates, whose own electric aircraft, the Long-ESA, holds the world record for fastest electric aircraft.
Wright Electric's competitors include aviation giant Airbus, which has been developing its electric two-seater plane E-Fan since 2014, and has stated plans to create its own short-haul electric aeroplane seating 70 to 90 passengers.
'Less loud'
Wright Electric is backed by Y Combinator, Silicon Valley's most highly-regarded start-up incubator programme. Alumni of the scheme include companies such as AirBnB, file storage company Dropbox and HR management software firm Zenefits.
Wright Electric's goal, detailed in a presentation given to potential investors on Tuesday, is to make all short-haul flights electric-powered within the next 20 years, which would be about 30% of all flights made globally.
The company said that as well as lower fuel costs for the airlines, the technology could have a major added benefit for the public.
"Depending on how it's designed, you can have an electric plane that's substantially less loud than a fuel plane," said Jeff Engler, Wright Electric's co-founder.
Batteries would be charged separately, he said, meaning planes would not have to sit on the tarmac while power is replenished.
"The way we've designed our plane is to have modular battery packs for quick swap using the same cargo container that's in a regular airplane," Mr Engler said.
"We want it to be as fast as possible, so airlines can keep their planes in the air as long as possible and cover their costs."
Other technology start-ups are seeking to innovate within the aviation industry.
Boom, a company backed by Sir Richard Branson, is developing a Concorde-like supersonic jet. It hopes to achieve London to New York in three-and-a-half hours, a journey which currently takes more than eight hours. It is expected to run test flights later this year.
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