1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20    

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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Presidential campaigns monitored to ensure a fair election www.theubpost.mn

 
The Civil Society Monitoring Network (CSMN) for Fair Elections has released a report on its monitoring of news coverage related to this year’s presidential election in Mongolia.
 
The study analyzed information and televised news stories broadcasted by Mongolian National Broadcaster, TV9, C1, UBS, and MN25 during the first four days of the presidential campaign.
 
The following are highlights from the CSMN report.
 
MNB ALLOWED MORE AIRTIME FOR S.GANBAATAR
 
CSMN found that MNB failed to give the same amount of coverage to the three presidential candidates, as it mentioned candidate S.Ganbaatar more often than the other two candidates.
 
The time allocated for each candidate was similar, but discussion of Mongolian People’s Revolutionary Party (MPRP) candidate S.Ganbaatar made up 35 percent of all presidential election-related news coverage, while Democratic Party (DP) candidate Kh.Battulga got 34 percent of the share, and Mongolian People’s Party (MPP) candidate M.Enkhbold got 31 percent of the station’s coverage.
 
CHANNELS TEND TO FOCUS ON ONE PARTICULAR CANDIDATE
 
Each television channel seemed to give more coverage to a particular candidate, as observed by CSMN.
 
In particular, 74 percent of C1’s election-related news and 40 percent of MN25’s broadcasts mentioned candidate Kh.Battulga. CSMN concluded that two of the four commercial television channels favored the DP candidate.
 
TV9 gave more coverage to candidate S.Ganbaatar, precisely 38 percent of its broadcasts, and UBS gave more coverage to candidate M.Enkhbold, around 43 percent of its broadcasts.
 
C1 INVOLVED IN NEGATIVE CAMPAIGNING
 
C1 aired the most negative campaigning during the first four days of the election campaign. According to the CSMN study, over one-fifth of C1’s broadcasts were negative stories about the candidates.
 
The study also showed that C1 shared the most implicit messages. While C1 aired programs with implic- it messages 45 percent of the time, UBS broadcasts had the least amount of implicit messages, taking up seven percent of its programming on the candidates. MNB’s broadcasts did not contain any implicit campaigning.
 
TELEVISION CHANNELS SAID TO LACK REAL JOURNALISTIC STANDARDS
 
CSMN underlined that hardly any television channels maintained fair and impartial coverage of the candidates, and explained that this was related to the excessive amount of paid programs they aired.
 
According to the study, all television channels included in the study promoted candidates for 76 percent of their on-air time. Experts stressed that the television channels lacked independent journalistic standards for the information, news, and programming dedicated to educating their viewers.
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Oil Guru Who Foresaw Crash Says OPEC Should Have Deepened Cuts www.bloomberg.com

The oil guru who predicted the market rout in 2014 said OPEC and its allies should have gone much further when they extended their supply deal last month.
 
“They should have cut another million barrels a day for ninety days in order to drain the system,” said Gary Ross, global head of oil at PIRA Energy, a forecasting and analytics unit of S&P Global Platts.
 
For Ross, the producers missed an opportunity to deepen cuts between June and August when refinery demand is higher and so accelerate the decline in inventories. Such a move would have pushed the market into backwardation, when near-term prices are higher than those for later months, he said. That structure favors OPEC because it would discourage their shale-oil rivals from locking in prices for future production.
 
“If that was really their objective, then they should have cut during this window of maximum crude runs to accelerate,” he said.
 
The Organization of Petroleum Exporting Countries and partners led by Russia re-upped their agreement on May 25, agreeing to maintain curbs of as much as 1.8 million barrels a day until next March. Yet benchmark crude prices have since slid toward $45 a barrel, and the International Energy Agency said Wednesday that the cuts are only slowly diminishing global stockpiles.
 
Ross’s view was echoed by analysts at Sanford C. Bernstein Ltd., who said OPEC needs to cut deeper for longer to restore inventories to normal levels. “OPEC needs to drain by 34 million barrels a month or 1 million barrels a day for the next 10 months,” the analysts wrote in a note. “This looks challenging.”
 
Although the market is rebalancing, the surplus isn’t reducing at the rate OPEC was hoping for and will still be somewhere between 150 million to 200 million barrels by year-end, Ross said. That’s partly because crude production is increasing in Libya and Nigeria -- OPEC members that are exempt from curbing output because of internal turmoil.
 
Ross also warned that Chinese crude-demand growth is set to decrease in the second half of this year. “That poses a real problem for OPEC as they enter 2018,” he said.
 
Ross forecasts benchmark Brent crude will be trading at $50-$55 a barrel by year-end.
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Mongolia and Japan to continue development policy loan negotiations www.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting on June 14, Wednesday, the Cabinet looked over draft policy measures to be taken in the framework of ‘Fiscal and Economic Reform Development Policy Loan’, to be co-realized by the government and Japan International Cooperation Agency (JICA).
Finance Minister B.Choijilsuren was tasked to continue the loan negotiations while the corresponding Ministers were ordered to ensure realization of the policies.
The development policy loan will support Mongolia’s Economic Recovery Program, improve fiscal stability, reduce fiscal deficit, enhance the governance in social insurance and banking sectors and diversify the economy, the Cabinet sees.
The loan is a finance in the first phase of Japanese grant worth USD 850 million, provided within the framework of Extended Fund Facility of International Monetary Fund.
To be provided in an equal amount, USD 283 million, for the next three years, the soft loan has a 20-year term, 6-year moratorium and annual interest of 0.8 percent.
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US key interest rate highest since 2008 www.bbc.com

 
The US Federal Reserve has said it would raise its key interest rate by 0.25%, the second rise this year.
The central bank voted to raise its key rate target to a range of 1% to 1.25%.
That's the highest level since 2008, when policymakers cut rates to encourage borrowing and spending after the financial crisis.
The bank also said it would begin cutting its bond holdings and other securities this year.
It cited continued US economic growth and job market strength as reasons for raising its benchmark interest rate.
"Our decision ... reflects the progress the economy has made and is expected to make," said Federal Reserve Chair Janet Yellen.
Mixed data
The rise was widely anticipated after a low unemployment rate, but other economic indicators, including inflation, have been weaker.
Data on Wednesday showed US consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months.
This has raised questions about the bank's future course.
US stock markets the S&P 500 and the Nasdaq edged down at the close.
But the rate increase was already priced into most stocks.
Bond buying
Federal Reserve policymakers have been grappling with when and how to alter the policies put in place after the 2008 financial crisis to boost economic activity.
At the time, they slashed interest rates and bought up US treasuries and mortgage-backed securities to keep rates low.
The Fed has a $4.2trn portfolio of Treasury bonds and mortgage-backed securities, most of which were purchased in the wake of the financial crisis and recession.
In 2014 the bank stopped its bond purchase program, known as quantitative easing, but it has continued to reinvest the assets on its books.
On Wednesday, policymakers said they aim to reduce that balance sheet, by reinvesting payments from those securities only above certain caps, totalling $10bn.
The cap would escalate in three month intervals. It would start implementing those policies this year, assuming economic growth continues.
Ms Yellen said she's not sure how far the committee will want to reduce the holdings over the long run, but she said they would be levels "appreciably below" those seen in recent years though larger than before the financial crisis.
Rate hikes
The Fed raised interest rates for the first time since the crisis in December 2015.
Policymakers acted in December 2016 and again in March.
Wednesday's decision was made with an 8-1 vote, with Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, dissenting. Mr Kashkari also voted against the March rise.
Interest rates remain low by historic standards. The board expects to raise rates at least three times this year.
The moves depend on the strength of the economy, which has been mixed.
On Wednesday, the US Labor Department reported that prices for goods excluding food and energy increased by 1.7% from May 2016, slowing steadily from earlier in the year.
That fell short of the Federal Reserve's target of 2%.
Ms Yellen said the bank is aware of the shortfall and it was "essential" to move back to the target.
But she said this year's data may be skewed by one-off factors, such as lower prices on cell phone plans.
"It's important not to overreact to a few readings," Ms Yellen said. "Data on inflation can be noisy."
Consumers
For US consumers, interest rate increases tend to lead to increased borrowing costs.
Greg McBride, chief financial analyst for Bankrate.com, said the cumulative effect of recent rate increases on consumers is "mounting".
"The combination of rising debt burdens and rising interest rates is straining some households, with delinquencies picking up from recent lows," he said.
In broader terms, the economic impact includes a stronger dollar and higher bank profits.
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FM Ts.Munkh-Orgil discusses inter-parlamentary cooperation with US Congress Members www.montsame.mn

Ulaanbaatar /MONTSAME/ On the sidelines of his visit to the US, Minister of Foreign Affairs of Mongolia Ts.Munkh-Orgil held meetings with members of the United States Congress to discuss bilateral ties and cooperation, especially, between the legislative bodies.

While underlining that inter-parliamentary interactions have been making great contributions to Mongolia-US relations, the Foreign Minister extended thanks to the US Congress for passing a number of resolutions in support of Mongolia.

During the meeting with Mr Peter J.Roskam, Chairman of the House Democracy Partnership, FM Ts.Munkh-Orgil highlighted that the Democracy Partnership and the Open Earth programs have been a huge help for Mongolian lawmakers to visit USA to learn practices.

Afterwards, FM Ts.Munkh-Orgil met with congresswoman Dina Titus and congressman Don Young, co-chairs of the Mongolia group in the US Congress and expressed his satisfaction with the continuation of the functions of such a group in American legislature, while noting that it had been a big factor in strengthening cooperation and understanding between the two legislatures.

The Mongolian Foreign Minister expressed interest to deepen cooperation with the US, particularly in economic sphere, through increasing the US investment to Mongolia. The US side also expressed they are willing to mobilize the initiatives from Mongolian side.

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Khan Bank to back sustainable energy in Mongolia with EBRD loan www.renewableshow.com

June 14 (Renewables Now) - Mongolia-based Khan Bank has secured a loan of up to USD 5 million (EUR 4.5m) from the European Bank for Reconstruction and Development (EBRD) to promote sustainable energy and renewables in Mongolia.
 
The funds will be allocated to finance the development of sustainable energy projects and technologies in Mongolia’s industrial sector, EBRD said on Tuesday. The extended proceeds will cover the total cost of the project.
 
EBRD noted that the collaboration with Khan Bank will enable the Mongolian bank to strengthen its competences for evaluating renewable energy investments. It is also seen to improve the awareness on the benefits of energy and resource efficiency among businesses and households.
 
Beneficiaries of the project will have to meet certain eligibility criteria for obtaining financing from the EBRD funds and comply with national environmental requirements, the EBRD said.
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Iraq takes Saudi crown to become oil king of key Asian market www.rt.com

 
As competition among oil producers for major Asian markets intensifies, Iraq has become India’s top crude supplier for a third month in May, surpassing Saudi Arabia.
Shipping data compiled by Bloomberg showed, Iraq supplied 1 million barrels a day and those supplies accounted for 23 percent of India’s purchases last month, up from an average 19 percent in the previous four months. Saudi Arabia’s share fell to 17 percent.
India’s total crude imports in May stood at 4.35 million barrels a day. Its $2-trillion economy imports more than 80 percent of crude requirements and the International Energy Agency expects it to be the fastest-growing consumer through 2040.
“Saudis used to be the king when it comes to crude supply, but now it’s becoming a prince,” said R. Ramachandran, the head of refineries at Bharat Petroleum, India’s second-biggest state-run refiner.
“Preference for Iraqi crude will continue as Indian refiners continue with refinery upgrades,” he told Bloomberg.
Iraq has been India’s second biggest supplier of oil for years. However, the Gulf nation’s poor port infrastructure resulted in delays and inconsistencies in shipments, making Iraqi crude less preferred than that of Saudi Arabia. Recently, Iraq has improved the infrastructure to ensure stable supplies.
“Iraqi crude is getting attractive and it suits our refineries very well,” said Mukesh Kumar Surana, chairman of Hindustan Petroleum. “Iraq has come out of the supply uncertainties and the pricing is very competitive.”
Hindustan Petroleum buys about 4 million tons of Iraqi oil annually on a term basis, which matches the volume it gets from the Saudis.
According to India’s Finance Director Arun Kumar Sharma, the nation’s biggest processor Indian Oil Corporation will boost Iraqi imports to about 18 million tons this year from 15.6 million in 2016. Saudi purchases are expected to remain steady at 5.6 million tons.
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Mongolia Jan-May coal export earnings surge after N.Korea ban www.reuters.com

 
Mongolia's coal export earnings surged nearly fivefold in the first five months of the year, according to official data, with the country taking advantage of sanctions on North Korea to boost deliveries to China, its major customer.
 
Cash-strapped Mongolia was forced to turn to the International Monetary Fund for support this year following a collapse in foreign investment, declining commodity prices and a downturn in coal demand.
 
But it is now reaping the benefits of a ban on exports from North Korea, which has forced China to find alternative coal suppliers. The value of Mongolia's coal exports rose to $1.01 billion in the first five months of 2017, 4.6-times higher than the same period last year.
 
The rise in exports contributed to a 69.5-percent increase in Mongolia's foreign trade surplus, which hit $1 billion, the country's statistics office said on Tuesday.
 
According to the latest data from China's customs authority, Mongolia became China's second biggest supplier of non-lignite coal in the first four months of this year, with deliveries reaching a total of 11.7 million tonnes, more than double the same period of 2016.
 
The average price of Mongolian coal delivered to China in April stood at $66 a tonne, double the value in April last year, though still much cheaper than the average $122 per tonne for Australian shipments.
 
Mongolia's base metal exports, including copper, also jumped 58.8 year-on-year to $41.3 million over the first five months of 2017. Total exports grew 42 percent to $2.5 billion.
 
Rising fuel costs contributed to a 27.8-percent climb in the value of total imports, with the value of diesel imports growing 2.4 times to $141.5 million and gasoline up 49 percent at $97.9 million.
 
Mongolia's largest copper mine, Oyu Tolgoi, run by Anglo-Australian miner Rio Tinto, saw its revenues rise 5.7 percent year-on-year in the first quarter of the year, citing higher prices and copper concentrate sales.
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Mongolia-Austria business meeting held www.montsame.mn

Ulaanbaatar /MONTSAME/ Ulaanbaatar Chamber of Commerce, Mayor’s Office, Austrian Economic Chamber and Ulaanbaatar Development Corporation co-held a business meeting on June 13, Tuesday.
 
The meeting was attended by J.Batbayasgalan, Deputy Mayor in charge of Green development and Air pollution, G.Ulziibayar, Head of Policy planning division of the Mayor’s Office, Martin Glatz, the Austrian Economic Chamber’s Representative in China and representatives of Austrian businesses interested in Mongolia.
 
Deputy Mayor J.Batbayasgalan expressed his delight at meeting the representatives of Austrian businesses, and said, “We would like to cooperate with Austria on green development”. He also expressed hope to cooperate with the Central European country on many other areas.
 
Martin Glatz, Austrian Economic Chamber representative and Commercial Counsellor at the Austrian diplomatic mission to Mongolia, based in Beijing, shared his views on Mongolia-Austria trade, emphasizing on the opportunities for further cooperation.
 
Representing Austrian businesses, Vienna based companies ‘AME International’ and ‘Hulla & Co Human Dynamics’ attended the meeting, and introduced their functions. AME International Managing Director Ekkehart Stremitzer expressed interest in working with Mongolia in health sector.
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Flight tickets price might be cut by 20-40 percent www.montsame.mn

 
Ulaanbaatar /MONTSAME/ Price of flight tickets can be reduced by 20-40 percent, said the officials during a press conference held yesterday, June 13, by the Ministry of Road and Transport Development, the General Authority of Civil Aviation, Hunnu Air and Aero Mongolia Companies.
 
“The Ministry has been seeking opportunities of lowering the ticket prices through persuading to amend the international air relations agreements of Mongolia. Initially, the agreement between Mongolian and South Korean civil aviations is being changed, so that passengers can enjoy cheaper flights”, said Deputy Minister B.Tsogtgerel.
 
According to him, the government has been making efforts to maintain a price liberation policy and increase frequency of flights. Chairman of the General Authority of Civil Aviation L.Byambasuren informed the gathered that, for the above mentioned objective, Hunnu Air has been conducting direct flights to Ulan-Ude of Russia and MIAT, to Busan of South Korea.
 
MIAT has released a new flight route from Seoul to Busan, and intends to fly directly to Bangkok.
 
The negotiation meeting is expected to take place in Ulaanbaatar on June 28 and 29 on amending the air relations agreement between Mongolia and South Korea.
 
Deputy Minister B.Tsogtgerel told that he has met with the delegates of the South Korean Asiana Airlines the day before, and that the visiting delegates have proposed to conduct direct flights between Incheon and Ulaanbaatar.
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