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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MIAT to increase flight frequency and routes www.montsame.mn

Ulaanbaatar /MONTSAME/ Yesterday, March 15, Minister of Road and Transportation Development D.Ganbat visited MIAT Airline National flag carrier, and stated that the company would be supported with government policy and its flight frequency and routes would be increased.

MIAT company works on lowering operational costs and increasing income, including from non-transportation sources and plans to launch new flights to 7 routes in Australia and South East Asia including Busan of South Korea and Bangkok of Tailand, according to Director of MIAT, state-owned company T.Tamir.

Minister D.Ganbat said that the ministry started to take some measures regarding rendering policy support to improve business activities of the company so that the company operates without loss and to overcome financial difficulties; renewing air relations agreements to improve travelers' flow and protecting market of international transportation.

“- Increase of international flight frequency and flight routes should be aimed at improving economic efficiency” Minister D.Ganbat underlined. The minister highly valued the skill of engineers and technical officers of the company, expressing that he will pay attention to enlarging the capacity of aircraft maintenance service and improving professional skills of technical officers further. MIAT company has a capacity to conduct maintenance service to over 30 aircrafts in a year and has an agreement with 9 international airlines to conduct maintenance services to their aircrafts.

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Premier tells to cut expensive ceremonies for local visits www.montsame.mn

Ulaanbaatar /MONTSAME/ On Wednesday, Prime Minister J.Erdenebat directed all aimag governors to stop hosting expensive welcoming and farewell ceremonies for government officials, going on local visits.

He also tasked the officials to study feasibilities to make changes to the State Protocol Regulations, to refrain from the ceremonious welcoming for Prime Minister at the border of aimags and to organize small welcoming events at cheaper cost instead.

The Prime Minister views such a decision is necessary in these times of economic restraint.

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Strong interest in Mongolia at PDAC; investors liked Mining Minister’s candid responses; OT LLC success is now at the center of Mongolia’s unique selling proposition NAMBC Newsletter

Attendance at the March 5 Mongolia@PDAC investors forum during the annual convention of the Prospectors and Developers Association of Canada in Toronto was the highest of any prior Mongolia event at PDAC. “When Mining Minister Ts. Dashdorj spoke,” noted NAMBC Chairman Frank Herbert, “it was standing-room only.” Advance registration – 300 -- for the event was more than double the highest previous level. The success, stability and smooth expansion of Oyu Tolgoi LLC was front and center in Mongolia’s unique selling proposition by both government and private sector speakers, which included Dr. Galsan Batsukh, Chairman of OT LLC, who was Mongolia’s first resident ambassador to Canada, as well as the CEOs of other established foreign miners in Mongolia who have been able to attract significant new capital investment as investors warm again to Mongolia’s prospects, including presentations by Steppe Gold, Aspire, Xanadu and Erdene Resource Development (ERD).

At and on the fringes of the PDAC meeting, Minister Dashdorj and other government officials emphasized that:

--Mongolia has no plans to change the size of its stake in the Oyu Tolgoi copper mine and no intention of changing the terms of its relationship with OT;

--Mongolia intends to double the amount of land available for exploration and hopes to build a copper smelting plant; and that the Mineral Resource and Petroleum Authority of Mongolia (MRPAM) will improve the transparency and methodology of bidding for new exploration licenses, in response to wide-spread complaints from both domestic and international investors about the deficiencies of the previous computerized system;

--the government is seriously examining issues involved in the discounted royalty for gold sold to the central bank, which expires on January 1, 2019 and which has been a major incentive to gold mining investment; and that the government was in serious discussions with Centerra on moving forward with the Gatsuurt gold mine, which is the only major new mining project that is even close to shovel-ready;

-- the government will take a fresh look at resolving problems with the vast number of mining licenses abruptly suspended because of overly-broad definitions of environmental considerations in the so-called “Long Name Law;”

-- the government’s plan for amending the mining law would not affect the basic structure of existing law on royalties and other basics but was rather intended to codify technical and regulatory requirements (such as on reclamation and restoration) that were missing or unclear in prior versions of the law;

--the government continues to study options for the Tavan Tolgoi LLC coal mine with interested investors and relevant government ministers with no fixed timetable for a final agreement.

From Toronto, Minister Dashdorj went on to Ottawa for the seventh Canada-0Mongolia Roundtable Meeting on Intergovernmental Cooperation on March 9 in Ottawa. The amicable meeting was co-chaired by Dashdorj and the Assistant Deputy Minister for Foreign Affairs of Canada, Mr. Donald Bobiash; Mongolian Ambassador to Canada R. Altangerel and Canadian Ambassador to Mongolia Ed Jager also participated. Concurring that both nations highly valued Canada’s status as a “Third Neighbor,” both sides agreed to activate collaboration in mining, agriculture, infrastructure and environment, noting that the FIPA investment promotion agreement would help boost two-way trade and investment. The two sides agreed to improve efficiency and broaden the scope of development cooperation; six projects are currently underway in mining, agriculture, public and other sectors.

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Trump urges Toyota to build plants in US www.nhk.or.jp

President Donald Trump has again urged Toyota to make more cars in America during a meeting with auto executives in the US city of Detroit on Wednesday.

Trump said his administration is going to do what he called "wonderful work" with the car manufacturers, but they have to help him out by providing jobs.

The chief executive officer of Toyota North America, Jim Lentz, said the company plans massive investments in the US.

Trump said, "I know I'm giving you a hard time, but you've got to build those new plants here".

Trump asked a representative of Nissan how many of the company's vehicles sold in the US market are manufactured in the country.

After the meeting, the president announced a review of tough fuel-efficiency standards introduced by the Obama administration.

He said he is setting up a task force in every federal agency to identify and remove any regulation that undermines American auto production.

Environmentalists are likely to criticize the decision.

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Copper concentrate processing plant to be built in Khanbogd soum www.gogo.mn

On Mar 16th, plenary session of the Government approved the proposal to build copper concentrate processing plant in Khanbogd soum which is submitted by the Ministry of Mining. 
The processing plant will be capable of processing one million tonnes of copper concentrate per year and is planned to be commissioned by 2020. 
Experts ans specialists of mining industry considered that the plant is suitable to be built near Oyutolgoi deposit in Khanbagd soum, taking into advantages of raw materials, transportation and energy transmission. 
Ts.Dashdorj, Ministry of Mining is obliged to choose the investor of the project. 
At least 10 percent of the total stock of the processing plant is allowed to be owned by the state without cost and investment fee. 
Moreover D.Oyunkhorol, Minister of Environment was obliged to study the possible option for water supply of "Oyutolgoi`s concentration plant", "Tavantolgoi coal washing plant", "Tavantolgoi power plant", "Copper concentration processing plant" from "Orkhon gobi", "Kherlen gobi" and "Ongi gobi" projects and submit to the Government.

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Tesla to raise more than 1 bn U.S. dollars for producing new electric car www.xinhuanet.com

SAN FRANCISCO, March 15 (Xinhua) -- Tesla Motors, Inc. said Wednesday it plans to offer 250 million U.S. dollars worth of common stock and 750 million dollars in convertible notes due in 2022, to help finance its production of upcoming Model 3 electric car.

Elon Musk, chief executive officer of the automaker headquartered in Palo Alto, Northern California, will purchase 25 million U.S. dollars of common stock.

In announcing the move, Tesla acknowledged in a press release that the offerings totalling more than 1 billion U.S. dollars are intended to "strengthen its balance sheet and further reduce any risks associated with the rapid scaling of its business due to the launch of Model 3."

Unveiled about a year ago and priced at 35,000 dollars, about half the price of Tesla's Model S, the Model 3 is scheduled for delivery by the end of 2017.

Weeks ago, in a letter to shareholders, the electric automaker said it planned to spend 2 billion to 2.5 billion U.S. dollars before the planned start of Model 3 production in July. It currently produces the luxuary Model S and SUV Model X.

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GE signs deals with Chinese firms to enhance competitiveness www.chinadaily.com

SHANGHAI - General Electric (GE) has signed a series of agreements with Chinese companies to boost bilateral cooperation and enhance global competitiveness, according to an announcement by the company.

GE will work with China Telecom to help its internet technology enter the Chinese market and speed up China's industrial upgrades.

GE signed an agreement with Harbin Electric Corporation to establish a gas turbine manufacturing base, which will help China produce homegrown gas turbines and promote industrial upgrades of China's high-end manufacturing.

In the healthcare sector, GE will deliver a bio-pharmaceutical plant model to China's BeiGene to produce medicine. This will be the GE's third model plant worldwide.

GE also signed a deal with China Southern Airlines worth $3.48 billion to provide aircraft engine maintenance, repair and overhaul services to the airline company.

Driven by the Belt and Road Initiative, GE will work with Chinese partners to build three power plants in Pakistan to improve local energy infrastructure.

China is the world's second-largest economy and also the largest overseas market for GE, said GE Chairman Jeffrey Immelt, who is on a visit to China,

Immelt added that the bilateral cooperation will not only help local firms grow but also enhance GE's business competitiveness.

China's industrial upgrading and economic restructuring have provided enormous development space for foreign enterprises, said Duan Xiaoying, president of GE China.

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Beijing seeks to avoid trade war with Washington www.rt.com

Chinese Premier Li Keqiang said on Wednesday that Beijing does not want to see a trade war with the United States, adding the sides could overcome their disagreements and achieve common ground.

"We do not want to see any trade war breaking out between the two countries. That would not make our trade fairer," Li said at the annual meeting of China's parliament.

He added the relationship is crucial not just for China and the US, but also for regional and global peace, security and stability.

"We may have different statistical methods, but I believe whatever differences we may have we can all sit down and talk to each other and work together to find solutions."

The premier said issues that cannot immediately be solved should be "shelved" for the time being.

The comments come as US President Donald Trump and Chinese President Xi Jinping are reported to meet in Florida next month.

Concerns have been growing over the risk of a trade war between the world's two biggest economies.

Trump has repeatedly criticized China's trade practices and threatened to impose punitive tariffs on the country’s imports. He argued many Chinese policies were unfair, pointing to Beijing’s currency manipulation, theft of trade secrets, hacking, lax labor and environmental regulations.

Last year, the United States trade deficit with China reached $347 billion, and Trump has promised to close that gap, which he has also attributed to China’s rigged currency exchange policies.

The US President has not followed through on his promises, and in a recent phone call with Xi, Trump honored the One China policy, acknowledging Beijing’s position that there is only one China, of which Taiwan is a part.

Premier Li also said that China-US relations are founded upon adherence to the One China policy.

He said Beijing was willing to make its state-run economy more accessible for foreign investment despite "frictions in trade and investment."

"China will continue to open to the outside world," he said, adding “We welcome other partners to share with us in the development opportunities of China."

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“Forum for the Development of Mongolia” London April 06

From its inauguration in 2005, the “Forum for the Development of Mongolia” has become an annual tradition for Mongolians living abroad. The thirteenth Forum will be held under the theme ‘Mongolia’s Opportunities’ and hosted at the auditorium of the European Bank of Reconstruction and Development on Thursday 6th of April.
Representatives from Mongolia by Mongolian Business Database (MBD) for MBCCI's "6th Mongolia London business forum" will be independently coordinating a session focused on ‘Business enterprise in Mongolia: Challenges and Opportunities‘. Ongoing large scale projects and future opportunities in Mongolia will be explored within the session “Mega Projects”, by researchers and representatives from the media. Further attention is paid to the nature of Mongolian democracy, the Constitution and its links to societal and economic crisis is examined under the title “ Social and Legal Formation”. As well as Mongolians, the meeting will bring together Russian, America and Australian experts, who will present their research on the socio-economics of Mongolia.
The conference for the Council of Mongolians Abroad will also take place during the Forum and the implementation of governmental policies regarding Mongolians living abroad will be introduced by the Ministry of Foreign Affairs. In this year’s Forum, the attendance of over 70 Mongolians from 14 different countries is currently confirmed.
The Forum is jointly organised by the Embassy of Mongolia, Mongolian Association in the UK, Tsahim Urtuu Kholboo NGO, Mongolian Business Database and the Council of Mongolians Abroad. The venue is kindly provided by the European Bank of Reconstruction and Development. In the spirit of unity, the Mongolian National Association in Sweden have given financial contribution. Bloomberg TV Mongolia and Buddha Production will be jointly working as media partners.

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Apartment mortgage program continues www.montsame.mn

Ulaanbaatar /MONTSAME/ The Bank of Mongolia has stated that apartment mortgage program with 8 per cent interest rate will be transferred to the Government within 2018. New mortgage loans will be issued till the end of 2017, financed with monthly repayment income of loans. The remaining funding will be solved through reflecting it in the State Budget by the Government.

Last month, 396 persons received mortgage loan of MNT24.3 billion with 8 and 5 per cent interest. Since the new regulation approval on the apartment mortgage financing, the Bank of Mongolia has spent MNT142.3 billion for the financing of mortgage, solving mortgage applications of 2042 persons by February 2017.

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