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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Goldman Sachs: Bitcoin is looking 'heavy' www.businessinsider.com

 
Bitcoin has had a blistering start to 2017. It's up about 180% so far this year. However, its near-term outlook isn't looking so hot, according to a note released on Monday by Goldman Sachs head of technical strategy Sheba Jafari.
"The market has come close (enough?) to reaching its extended (2.618) target for a 3rd of V-waves from the inception low at 3,134," Jafari wrote. "It’s on track to forming a bearish key day reversal if today’s close settles below 2,749."
Bitcoin hit a lifetime high of nearly $3,000 a coin on Monday, but was unable to hold onto those gains. The cryptocurrency finished the day at $2,599, well below the key technical threshold of $2,749 that was singled out by Jafari.
Now, traders should be paying close attention to $2,475 on a weekly basis, as a close below there would cause even more damage to the technical picture, according to Jafari. "Both daily/weekly oscillators are diverging negatively. All of this to say that the balance of signals are looking broadly heavy."
Jafari isn't alone in calling for at least a near-term top in the cryptocurrency. "I think it's in a bubble," tech billionaire Mark Cuban tweeted last Tuesday. "I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble." Cuban did not say how far he thought bitcoin would fall.
So where will bitcoin go from here? "Wary of a near-term top ahead of 3,134, Jafari concludes. "Consider re-establishing bullish exposure between 2,330 and no lower than 1,915."
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Warren Buffett promotes Israeli government bonds www.rt.com

Billionaire investor Warren Buffett will travel to New York this week to help Israel sell government bonds, underwriting agency Israel Bonds said.
Buffett will reportedly meet privately on Thursday with US, Canadian, Mexican, and Brazilian investors who are each interested in buying up to $5 million in bonds. Buffett himself has invested $5 million, according to Israel Bonds.
“The purchase of Israel bonds is a sound investment and a deserved endorsement of a remarkable country,” Buffett said in a statement for the underwriting agency.
Last November, Buffett, the CEO of the US conglomerate Berkshire Hathaway, hosted an event in his hometown of Omaha, Nebraska that raised $60 million in investments in Israel.
“If you are looking for brains, energy and dynamism in the Middle East, Israel is the only place you need to go,” the billionaire said at the time.
In 2013, Buffett made Israeli firm Iscar his first foreign acquisition, buying the remaining 20 percent of the metalworking company for $2.05 billion, after buying 80 percent in 2006 for $4 billion.
Many investors stay away from Israel, which has fallen 23 spots in the World Bank’s Ease of Doing Business Index in the last six years, to 52nd out of 190 countries.
The country is regarded as a tough place to do business. Israel demands permits from fire officials and a number of ministries, and each of those bodies makes its own demands.
The Doing Business Index says it is easier to register property in 125 countries than in Israel, and there are 95 states with better tax environments.
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Mongolian document museum opens in Hohhot www.chinadaily.com.cn

China’s first Mongolian document museum was inaugurated in Horinger New District, Hohhot on June 10. The museum showcases valuable manuscripts and documents concerning Mongolian ethnic culture.
Covering an area of 1,718 square meters, the museum was initiated by Gereltu (Geri Letu), a Mongolian ethnic antique collector who has provided valuable documents for the museum’s collection. The museum is currently exhibiting ancient scriptures, historical materials and documents showing the evolution of Mongolian characters, paintings and stamps.
Mongolian characters have gone through 10 cycles of evolution and have a history dating back nearly 1,000 years. Mongolian people have recorded the development of religion, medicine, commerce, myths, literature and music, for the benefit of historians and future generations.
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Further mineralisation at Bayan Khundii www.asiaminer.com

Erdene Resource Development Corp’s ongoing drill program has expanded mineralisation at the Bayan Khundii Gold Project in southwest Mongolia. Assay results have confirmed the discovery of a new zone under cover north of the Midfield Zone.
 
One hole 60 metres north of Midfield returned 108 metres @ 2.8 g/t gold, including 20 metres @ 7.2 g/t. It was one of four previously drilled step-out holes where visible gold was observed.
 
Another hole 50 metres north of Midfield and 40 metres to the southeast of the above hole returned 55 metres @ 2.9 g/t, including 25 metres @ 5.3 g/t. No visible gold was observed in drill core at this hole.
 
These two holes support the extension of the high-grade corridor that runs north-northeast from Gold Hill through Striker and now beyond Midfield, and trending towards the Northeast Zone.
 
Results are pending for two step-out holes 130 metres north and 200 metres north of Midfield with visible gold observed in drill core of both.
 
Drilling in the Northeast Zone, 500 metres northeast of Midfield, returned 14 metres @ 0.75 g/t from surface, including 2 metres @ 4.4 g/t, and 21 metres @ 0.65 g/t from 65 metres.
 
Another step-out hole, the last of the four holes where visible gold was observed and located 90 metres east of Striker Zone, returned 10 metres @ 12.8 g/t. The hole, which was targeting a potential eastern extension of the Striker Zone under younger cover, has opened up a large untested area east of Striker for additional exploration. Additional drilling is planned in this area before the end of June.
 
Drilling has extended the Striker Zone down-dip to the southwest with one hole returned 20 metres from 90 metres @ 2.6 g/t.
 
The initial Q2-Q3 exploration program at Bayan Khundii, which commenced in mid-April, will include a projected 20,000 metres of diamond drilling, designed to expand areas of gold mineralisation surrounding the Gold Hill, Striker and Midfield zones, and to identify new zones elsewhere within the larger 2km by 1.8km project area.
 
Once complete, any new or expanded zones will receive more detailed drilling to increase confidence in advance of an eventual resource estimate. One drill rig is continuing with the exploration program while the second is dedicated to the closer-spaced resource delineation program.
 
Erdene expects to receive further assay results throughout the September quarter.
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Peace Corps to promote volunteerism in Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Foreign Affairs Ts.Munkh-Orgil met Sheila Crowley, Acting Director of the Peace Corps during his official visit to the United States on June 12, Monday.

Minister Ts.Munkh-Orgil appreciated the important contribution of Peace Corps volunteers in health and education spheres Mongolia for the last 25 years. Since 1991, 1,275 Peace Corps volunteers have worked in Mongolia.

Acting Director Crowley, for her part, expressed gratitude towards the Mongolian Government for its continued support and cooperation, citing the initiation of a project to promote volunteerism in Mongolia at its request. Within the frameworks of the project, the Peace Corps will share its volunteering expertise with the government with the two sides working on facilitating an environment that promotes volunteerism.

Furthermore, a study will be conducted with an aim to frame a volunteer program specifically designed for Mongolia. It was agreed during the meeting that Mongolia will seek ways to cooperate with Americorps.

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World coal production falls off a cliff www.mining.com

Despite entreaties by the U.S. President, coal production is declining worldwide, putting the new Administration on the opposite side of a trend.
Trump last week was touting the opening of a new mine in Pennsylvania as having benefitted from his government's coal deregulation measures, even though the mine had actually planned to restart a year ago, prior to Trump being elected.
Now a new report from BP Plc, which reviews global energy trends every year, says that in 2016, U.S. demand for coal plummeted 33.4 million tons of oil equivalent to 358.4 million – a level not seen since the 1970s. China, the world's largest energy consumer, burned the least coal in six years. Consumption of coal fell in every continent except Africa.
The upside of the reduced coal production has been lower carbon emissions, which have not grown for three consecutive years, stated Spencer Dale, BP's chief economist, at a media briefing in London today quoted by Bloomberg. The reasons for the decline in coal use are well known: more plentiful, cheaper natural gas, countries switching more to renewable energies, whose costs are dropping, and social pressure to cut coal in favour of cleaner, lower-carbon fuels.
While coal bulls were elated for awhile earlier this year – when the price of coking coal reached heights not seen since 2011 due to cyclones in Australia and subsequent flooding in Queensland – the price of the steelmaking ingredient fell to an eight-month low yesterday as supplies return to normal levels.
Yet the world's declining hunger for coal has clearly not been a factor in a recent bidding war between major coal players over coal mines in Australia.
Chinese-owned Yancoal (ASX:YAL) signalled Tuesday it may be willing to raise its offer and so outbid Glencore after striking an agreement with Mitsubishi to buy its 32.4% stake in Rio Tinto’s (ASX, LON:RIO) coal assets in Australia's Hunter Valley.
The tag-along deal with Mitsubishi came almost three days after miner and commodities trader Glencore (LON:GLEN) said it had reached an agreement with the Japanese firm to buy the same interests in the same coal mines. However, Yancoal's offer, at $940 million, was slightly higher.
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Master budget deficit reaches MNT 412.5 billion www.montsame.mn

Ulaanbaatar /MONTSAME/ In the first five months of 2017, total equilibrated revenue and grants of the General Government Budget amounted to MNT 2,666.6 billion and total expenditure and net lending amounted to MNT 3,079.1 billion, representing a deficit of MNT 412.5 billion.

The tax revenue reached MNT 2,302.0 billion, showing an increase of MNT 464.7 billion or 25.3% compared to the same period of last year. This growth was mainly affected by increase in income taxes, which increased by 44.7% or MNT 189.5 billion, 41.0% increase in value added taxes amounted to MNT 163.7 billion, 34.5% increase in other taxes amounted to MNT 61.3 billion, 50.4% increase in import and export tax revenue totaled to MNT 55.5 billion, 9.2% increase in security contributions amounted to MNT 41.7 billion. However, there was decrease of excise taxes by 23.8% or MNT 52.8 billion.

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Consumer price index increased nationwide www.montsame.mn

 
Ulaanbaatar /MONTSAME/ In May 2017, the national consumer price index across the country increased by 0.5 per cent compared with the previous month, by 4.7per cent compared with the end of previous year and by 3.7per cent compared with the same period of 2016.
 
This change of 3.7 per cent from the same period of the previous year was mainly due to 9.8 per cent increase in prices of transport group (purchase of vehicles increased by 20.8 per cent), 2.1 per cent in food and non-alcoholic beverages group (milk products increased by 13.8 per cent) and 2.7 per cent in prices for clothing, footwear and cloth group.
 
In May 2017, the consumer price index for Ulaanbaatar consumers increased by 0.6 per cent from the previous month, by 5.4 per cent from the end of previous year, by 3.8 per cent from the same period of 2016. The change of 3.8 per cent from the same period of the previous year was mainly due to increase of 10.3per cent in prices of transport group, 3.1per cent in food and non-alcoholic beverages group, 4.5 per cent in prices for housing, water, electricity and fuels group.
 
INDUSTRIAL PRODUCER PRICE INDEX
 
In May 2017, the industrial producer price index increased by 0.1 per cent compared with the previous month, by 33.1per cent compared with the end of previous year and by 68.6 per cent compared with the same period of previous year.0.1 per cent change was mainly due to increase of 11.1 per cent in electricity, thermal energy and supply sub-sector prices (price of electricity, thermal energy, steam increased by 13.0 per cent), mining and quarrying sub-sector prices decreased by 0.6per cent (other mining and quarrying decreased by 9.8 per cent).
 
SOME MAIN AGRICULTURAL PRODUCTS
 
According to market price of main agricultural products, in May 2017, average price of cattle hide more than 2 meters length was lowest in Khovd, Gobi-Altai and Khuvsgulaimags at MNT 15.0-20.0 thousand and highest in Darkhan-Uul, Arkhangai and Selengeaimags at MNT 32.0-35.0 thousand. Average price of horse hide was lowest in Umnugobi, Zavkhan, Uvs, Bayankhongor, Uvurkhangai, Gobisumber and Tuv aimags at MNT 10.0-15.0 thousand and highest in Ulaanbaatar at MNT 23.0 thousand. Average price for 1 kilogram of white cashmere was lowest in Khentii, Selenge and Dornod aimags at MNT 35.0-40.0 thousand and highest in Uvurkhangai, Khuvsgul, Tuv, Uvs and Bayankhongor aimags at MNT 59.0-68.0 thousand.
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Uber chief to take leave from company www.bbc.com

Uber boss Travis Kalanick plans to take time away from the company, and could return in a diminished role.

The move comes after a review of management and practices at the firm, which is facing a number of scandals.
The review was sparked by a former employee's claims the company ignored her complaints about sexual harassment.
Uber's board voted unanimously on Sunday in favour of the recommendations from the review.
Some of Mr Kalanick's responsibilities could be shifted to other executives.
In the email to staff, Mr Kalanick said the decision to take leave, which also comes after the sudden death of his mother in a boating accident, is part of an effort to create "Uber 2.0".
"For Uber 2.0 to succeed there is nothing more important than dedicating my time to building out the leadership team," Mr Kalanick wrote. "But if we are going to work on Uber 2.0, I also need to work on Travis 2.0 to become the leader that this company needs and that you deserve."
Mr Kalanick's email did not say how long he would be away from the firm.
Uber, a ride hailing company based in San Francisco, has been rocked by a series of controversies in recent months, including an investigation of its business practices and a lawsuit from Google's parent company, Alphabet, over alleged theft of trade secrets related to driverless cars.
It also encountered pushback when it changed its policies around collecting user data.
Its corporate culture has been criticised for being aggressive, and this was inflamed earlier this year when Mr Kalanick was caught on video berating an Uber driver who voiced concerns about fares.
He said in response to the video: "I must fundamentally change as a leader and grow up."
His leave follows the departure of other high-ranked executives.
Uber last week also said it had fired more than 20 staff and taken actions against others following a separate review of more than 200 human resources complaints that included harassment and bullying.
The recommendations released on Tuesday stem from a broader review conducted by the law firm Covington & Burling.
The proposed changes include starting performance reviews for senior leaders, reviewing the firm's pay practices, beefing up its human resources department and installing an independent board chair.
"Implementing these recommendations will improve our culture, promote fairness and accountability, and establish processes and systems to ensure the mistakes of the past will not be repeated," said Liane Hornsey, the firm's chief human resources officer.
"While change does not happen overnight, we're committed to rebuilding trust with our employees, riders and drivers," she added.
Uber has revolutionized the taxi industry since Mr Kalanick launched the ride hailing app less than 10 years ago.
Privately held, investors reportedly valued it last year at nearly $70bn.
But the firm has clashed with authorities, drivers and others as it expanded to more than 600 cities and a workforce of more than 12,000.
The scandals have taken a toll on the company's reputation and business, according to reports.
A Monday survey of US adults by Morning Consult Brand Intelligence found 40% of respondents had a favourable impression of the firm, down from 49% just a week earlier.
TXN Solutions, which tracks consumer spending, also says Uber has lost market share since January, when consumers began a campaign against the company for not taking stronger stance against US President Donald Trump, particularly his Muslim ban.
Mitch Kapor and Freada Kapor Klein, investors in the company who had pushed for change earlier this year, called the recommendations "thoughtful and extensive" and suggested the company was taking the issues seriously.
"Our stated hope all along was that Uber could leapfrog other companies to be a real leader in diversity and inclusion," they said.
"At this point we believe that the company deserves some room to put the plan into effect and show us what can be done."
But Susan Fowler, the former Uber engineer whose blog prompted the controversy, sounded a more sceptical note.
"Ha! Yeah, they'll never apologize. I've gotten nothing but aggressive hostility from them. It's all optics," she wrote on Twitter.
"Remember that this is not about diversity and inclusion, it's about laws being broken. Harassment, discrimination, retaliation are illegal."
Audio from a meeting with employees, leaked to a Yahoo News reporter, underscored how pervasive some of the problems appear to be.
As board member Arianna Huffington talked about having more women on the board, fellow board member David Bonderman interrupted to say the effect is "actually ... much [more] likely to be more talking".

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The national average wage increases by 10 percent www.mongolia.gogo.mn

 
National Statistics Office released social and economic statistics of first five months of 2017.
The average monthly wage per employee who pays social insurance premium reached 959 thousand Tugrik as of first quarter of 2017. Compared to same period of previous year, the average monthly wage increased by 10 percent (87 thousand Tugrik).
The wage raise as follows;
International organization by 9.6 percent (142 thousand Tugrik),
Transportation sector by 11 percent (116 thousand Tugrik),
Manufacturing sector by 24 percent (197 thousand Tugrik),
Mining and exploration sector by 26 percent (519 thousand Tugrik),
Science and technical sector by 27 percent (310 thousand Tugrik).
According to the professions, machine operators and machine assemblers have the highest average monthly salary of 1.2 million Tugrik while certified staffs in agriculture, forestry and fishing paid the minimum salary of 495 thousand Tugrik.
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