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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Toyota to study production in Saudi Arabia www.nhk.or.jp

Executives at Japanese automaker Toyota Motor are considering whether to make cars in Saudi Arabia. They say they've signed a memorandum of understanding with Saudi officials to study the possibility of setting up a factory in the Middle Eastern nation.

Toyota plans to see if it would be possible to secure parts and whether demand would be strong enough.

Toyota exported about 37,000 cars to Saudi Arabia from Japan last year. The company also ships vehicles there from other countries. Toyota accounts for about one-third of all the cars on Saudi roads.

Separately, the Economy Ministers of the two countries signed another memorandum. They agreed for Japan to help the Gulf nation in its quest to lessen its dependence on oil.

It says Japanese officials will support desalination projects to help Saudi Arabia deal with chronic water shortages. They will provide know-how for managing non-governmental organizations.

The 2 sides also agreed to jointly study whether Japan's expertise in the technology known as Internet of Things and housing construction can be applied to Saudi Arabia.

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Mid-flight slumber cut short by exploding headphones www.bbc.com

Australian authorities have warned about the dangers of using battery-powered devices on flights after a woman's headphones caught fire.
The woman was dozing on a flight from Beijing to Melbourne when she was woken by the sound of an explosion.
She tore the headphones off to find them sparking, catching fire and beginning to melt.
The explosion and fire left her with a blackened face and blisters on her hands.
The passenger, who has not been named, told the Australian Transport Safety Bureau (ATSB) she was listening to music when the explosion occurred.

"I just grabbed my face which caused the headphones to go around my neck. I continued to feel burning so I grabbed them off and threw them on the floor. They were sparking and had small amounts of fire."

Members of the flight crew rushed to help and eventually put out the fire by pouring a bucket of water on the headphones.
By that time, the battery and the plastic cover had melted and stuck to the floor.
"For the remainder of the flight, passengers endured the smell of melted plastic, burnt electronics and burnt hair," the ATSB said in its report.
The report said did not mention the brand of headphones, but said it believed that a fault with a lithium-ion batteries was the likely cause.

The ATSB has published a set of guidelines for travelling safely with batteries and power packs, warning that "as the range of products using batteries grows, the potential for in-flight issues increases".
There have been a number of problems with lithium batteries on flights in recent years.
A plane about to take off from Sydney last year had to be stopped when smoke was coming from a piece of hand luggage. It was then found that lithium batteries had caught fire in the luggage.
An electronic device also began emitting smoke when it was crushed under a moving seat in the US, the ATSB said.
Last year, malfunctioning batteries in Samsung's Note 7 caused many of the smartphones to overheat, catch fire and melt.
Several such incidents also occurred on planes leading to international aviation authorities banning the device from planes. The Note 7 was soon recalled by Samsung and production has been scrapped.

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Chinese data, strikes bring copper price back to boil www.mining.com

In New York on Tuesday copper for delivery in May enjoyed a third day of gains adding 1% to $2.6505 per pound or $5,843 a tonne on the back of upbeat economic data from China and continued labour disruptions at the world's biggest mines.

The Statistics Bureau of China said on Tuesday industrial production led by the steel industry jumped 6.3% in January and February of 2017 (released together to smooth out distortions in the data caused by the Chinese new year).

Fixed asset investment shot up by 8.9% compared to 8.1% for 2016 as a whole thanks to strong private sector investment. China consumes some 46% of the world's copper and the price of the metal is influenced by broader economic trends thanks to its widespread use in a variety of industries.

Reuters also reported on Tuesday that talks to resolve the strike at Escondida, the world's largest copper operation by a wide margin, is going nowhere. The main union representing 2,500 workers at the Chilean mine released a statement that it will "maintain the strike for an indefinite amount of time" after a third attempt to restart negotiations with management failed.

The previous labour strike in 2006 ended after 25 days while the current wage deal was signed four years ago when copper was trading around $3.40 a pound

The strike at the BHP Billiton operated mine is already in its 34th day. The previous labour strike in 2006 ended after 25 days while the current wage deal was signed four years ago when copper was trading around $3.40 a pound.

In its annual financial results BHP said it expected full-year production at Escondida of 1.07 million tonnes, which gives the mine a nearly 5% shares of global primary copper production.

BHP, which operates and majority owns the mine with fellow Melbourne diversified giant Rio Tinto, declared force majeure at the mine on February 10 sending the copper price to its highest since May 2015, but an unexpected surge in copper inventories at facilities controlled by the LME and on the Shanghai Exchange stopped the rally in its tracks.

Peru strike adds to Freeport woes
In Peru top listed copper producer Freeport McMoRan's Cerro Verde mine which recently underwent a massive expansion has also been hit by labour action. Workers walked off the job on Friday for an indefinite strike saying production at the mine is running at 50%. Cerro Verde, controlled by Freeport with a 53.6% stake, Sumitomo Metal (21%) and Buenaventura (19.6%), produced just under 500,000 tonnes of the red metal last year, making it the South American nation's top producer.

At the same time Freeport's Grasberg mine in Indonesia faces a concentrate export ban as it negotiates a new operating licence and ownership agreements with the Asian nation. Last month Phoenix-Arizona-based Freeport said it does not foresee a return to business as usual at its 90%-owned operating subsidiary in the country.

Freeport Indonesia is in the process of suspending its investments at the remote mine in Papua province and reducing production by roughly 60% from normal levels. In January Freeport said for each month of delay in obtaining approval to export, the Indonesian subsidiary's share of production is projected to be reduced by approximately 32,000 tonnes of copper and 100,000 ounces of gold.

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Russian, Mongolian experts to meet for discussion of power plants in Lake Baikal area www.tass.com

MOSCOW, March 13. /TASS/. Experts of Mongolia and Russia will hold the first meeting in June to discuss construction of a chain of hydropower plants (HPP) on the Selenga river and its feeders, Mongolia’s Ambassador to Banzragchiin Delgermaa told TASS on Monday.
"A mutual decision was made according to results of the intergovernmental commission meeting [in December 2016 - TASS] that we will exchange information in the first instance," the diplomat said. "Mongolia has a conclusion of a French expert company that also built HPP in Russia regarding two our projects. According to their conclusion, construction of the HPP will not actually exert negative influence on environment. However, Russia has its conclusion and its studies," the ambassador said.
"It was decided to set up a joint research team with scientists and experts of both sides," Delgermaa said. "We suggested holding the meeting with participation of Russian and Mongolian experts in March but the Russian party made a proposal to postpone such a meeting until June," she said.

The Baikal Lake is unique, the ambassador said. "This is not merely the Russian but also the global treasury. Therefore we will undertake measures to prevent environmental problems and will jointly settle arising issues," the diplomat added.
Russian environmental and scientific circles have repeatedly expressed their concerns about Mongolia’s plans to build three dams at rivers that feed Lake Baikal, the world’s largest and deepest freshwater lake and a UNESCO World Heritage site. Under the plan, three dams are to be built: one at the Selenga River, that accounts for some 80% of all water that flows into the lake, and two at its main tributaries - the Eg River and the Orkhon River.
The announcement coincided with the unprecedented decline in the Baikal water level that started in fall of 2014 and continued through 2016.

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MSE to collaborate with Toronto Stock Exchange www.montsame.mn

Ulaanbaatar /MONTSAME/ During the Prospectors & Developers Association of Canada’s conference that took place in Toronto, Canada, Director of Global Business Development at Toronto Stock Exchange Robert Peterman and President of Capital Formation for Equity Capital Ungad Chadda have received the delegates of Mongolian Stock Exchange (MSE).

The meeting was attended by Minister of Mining and Heavy Industry Ts.Dashdorj, MP A.Undraa, head of Mineral Resources and Petroleum Authority of the Government Implementing Agency B.Baatartsogt, CEO of Mongolian Stock Exchange Kh.Altai and other delegates from Mongolia.

As a result, MSE and Toronto’s Stock Exchange have decided to cooperate on starting double-registration activities. Although Mongolia enabled legal environment of double registration, stock companies have not taken advantage of this opportunity yet.

Toronto Stock Exchange is considered as one of the biggest stock market as it is ranked 9th in the world. A total of 3.278 registered companies are traded in the Stock Exchange with mostly mining companies. In 2015, the Stock Exchange raised a total of CAD 57.7 million funds.

Around 11 companies that operate in Mongolia are registered in the Toronto Stock Exchange, such as “Erdene Resource Development Corporation”, “South Gobi Resources” and “Turquoise Hill Resources”. Once the cooperation takes effect, these companies will be registered in MSE, offering shares and securities to the investors.

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"Mongolian tax rate is low compared to other developing countries" www.mongolia.gogo.mn

 
On 12 March, Mongolian Business Council held its regular meeting among its members.
At the beginning of the meeting, new members of the council were introduced. Following John Langtry, Australian Ambassador to Mongolia briefly introduced Women`s Leadership Program (WLP), which is a sub component of the Australia Awards Mongolia and is funded by the Department of Foreign Affairs and Trade of Australia. WLP is designed for male and female alumni of the Australia Awards Mongolia who have completed Masters degree programs in Australia and are currently working as mid career professionals in public, private and civil society organizations.
Mongolia has reached Staff-Level Agreement with International Monetary Fund (IMF) on Three-Year Extended Fund Facility. Meeting participants discussed the effects of IMF`s program on economy. Economist D.Jargalsaikhan moderated the discussion and James Anderson, World Bank's Country Manager for Mongolia, Neil Saker, the IMF`s Resident Representative in Mongolia, B.Lkhagvasuren, vice president of Bank of Mongolia answered questions of participants.
B.Lkhagvasuren, vice president of Bank of Mongolia stated that previous authorities spent US$ 8 billion in vain which caused current budget deficit.
Economist D.Jargalsaikhan noted that now the Government officials will hear our voice. They become more obedient during economic difficulties. Thus we should constantly express our voice and demands.
Participants questioned that in scope of IMF`s Extended Fund Facility Program, Mongolia will increase six types of tax rates and social insurance contributions. Will it shrink the economy and cause bankruptcy for private sector?
In response, Neil Saker, the IMF`s Resident Representative in Mongolia: "Mongolian tax rate is low compared to other developing countries. 10 percent of personal income tax rate is at the same level as countries in the Middle East".
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JPMorgan, HSBC, Citigroup Said to Be Hired on Saudi Dollar Sukuk www.bloomberg.com

 
Saudi Arabia hired Citigroup Inc., JPMorgan Chase & Co. and HSBC Holdings Plc as global coordinators on its international Islamic bond sale, according to people with knowledge of the matter.
 
The kingdom also picked Deutsche Bank AG and BNP Paribas SA among others as lead managers for the sale, the people said, asking not to be identified as the talks are private. The sukuk could come as soon as this month, two of the people said.
 
The world’s biggest oil exporter is considering international and domestic debt issues to help finance its budget deficit. The country may post a budget deficit of 198 billion riyals ($53 billion) this year, equal to about 7.7 percent of economic output. It’s also turning to the main banks on its $17.5 billion debut international bond sale in October, a record for an emerging market nation, when it also worked with JPMorgan, Citigroup and HSBC.
 
The banks and Saudi Arabia’s finance ministry declined to comment.
 
The world’s biggest oil exporter plans to raise between $10 billion and $15 billion from international bond markets in 2017 and sell about 70 billion riyals locally, said Mohammad Al Tuwaijri, secretary-general of the Finance Committee at the Royal Court in December.
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Intel buys driverless car technology firm Mobileye www.bbc.com

 
Intel will pay $63.54 a share in cash for the Israeli company, which develops "autonomous driving" systems.
Mobileye and Intel are already working together, along with German carmaker BMW, to put 40 test vehicles on the road in the second half of this year.
Intel expects the driverless market to be worth as much as $70bn by 2030.
Jerusalem-based Mobileye has contracts with 27 car makers. It also controls about two thirds of the market for software that runs automatic emergency braking and semi-autonomous cruise control systems already fitted to cars and trucks.
Technology companies are racing to launch driverless cars.
Earlier this month, Nissan test drove a converted Leaf vehicle and said it hoped to make the cars available by 2020.
Google has also done extensive development of driverless cars.
Announcing the deal, Intel said that as cars "progress from assisted driving to fully autonomous, they are increasingly becoming data centres on wheels".
The chipmaker reckons that by 2020 driverless cars will generate 4,000 GB, or 4 terabytes, of data a day that can be mined for information.
Betsy Van Hees, analyst at Loop Capital Markets, said Intel had very little presence in the automotive market, "so this is a tremendous opportunity for them to get into a market that has significant growth opportunities".
Timothy Carone, a Notre Dame University academic, said: "Major players are finding ways finding ways to position themselves for a change as seminal as the personal computer revolution."
Shares in Intel fell 2.2% to $35.10 in New York.
Mobileye was founded in 1999 to develop "vision-based systems to improve on-road safety and reduce collisions".
The company, along with Intel's automated driving group, will be based in Israel and led by Amnon Shashua, Mobileye's co-founder, chairman and chief technology officer.
In its results for last year, Mobileye said revenue more than tripled to $358m, while pre-tax profit jumped from $79.7m to $125.4m.
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Toshiba delays earnings release again www3.nhk.or.jp

 
Toshiba Corporation is delaying the release of its financial results again.
 
The conglomerate last month delayed the February 14th release of its earnings results for the April to December period. It said it needed to examine alleged inappropriate pressure on its US nuclear unit, Westinghouse, which is the main cause of the huge losses Toshiba suffered.
 
Toshiba has decided to undertake another delay after its auditing firm pointed out that it should examine when it found out about the risk of the losses.
 
According to people familiar with the matter, the auditing firm says the investigation may take around one month. If the Kanto Local Finance Bureau approves another delay, a new deadline will be set.
 
Toshiba President, Satoshi Tsunakawa plans to hold a news conference on Tuesday to explain the delay.
 
Attention is also focused on what he might say about a review of the company's nuclear business.
 
Toshiba has been studying the possibility of filing for Chapter 11 and withdrawing from its nuclear business in the United States as one of the options.
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New standard stoves to be retailed from April 1 www.montsame.mn

Ulaanbaatar /MONTSAME/ During a recent press conference, Air Pollution Reduction Department of the Ulaanbaatar Administration informed that an order regarding the sales of a new standard stove has been delivered to main markets like ‘Narantuul and Kharkhorin.

The press conference was co-held by Air Pollution Reduction, Environment, Health and Land Departments of the Ulaanbaatar Administration last Friday, and addressed the implementation of Ulaanbaatar Mayor’s ordinance issued in January and commonly asked questions by citizens.

M.Delgerekh, Head of the Air Pollution Reduction Department said, “National Security Council’s meeting on January 10 concluded that air pollution in the capital city had reached a hazardous level. In scope of the statement, Citizens’ Representative Khural of the capital city and aimags were ordered to draft a set of measures to be taken”.

“Our department has taken several measures, including the implementation of City without Smoke 2030 project and 2016-2020 action plan of Ulaanbaatar Mayor, authorizing specialized inspectors to inspect air pollution in four zones and inspections at steam boilers in Ulaanbaatar. We’ve also installed 200 air filter equipments in 50 kindergartens in the most polluted zones”, he said.

According to him, main markets will begin new standard stove sales from April 1 onwards and furthermore, stove producers will be under inspection. The new stove is estimated to reduce air pollution in the capital by up to 35 percent.

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