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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Seabed gas mining gas restarts www3.nhk.or.jp

Japanese researchers have restarted extracting "methane hydrate" from the seabed and will continue until late this month. The test mining was put on hold in mid-May.

Japan has large amounts of natural gas locked in ice deep under its seabed. Government officials have been trying to tap it as a domestic energy source.

Researchers at the Agency for Natural Resources and Energy succeeded in extracting natural gas from methane hydrate earlier last month. It was taken from deposits below the seabed off the pacific coast of central Japan.

But the officials temporarily halted the test mining on May 15th after huge amounts of sand clogged the pipes bringing up the gas.

They took steps to keep sand from entering the pipes, and resumed the work. If the trial extraction is successful it could lead to the development of mining technology.

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Election campaigns launched yesterday www.theubpost.mn

Candidates for the June’s presidential election officially launched their campaigns on Tuesday. The Democratic Party’s presidential candidate, Kh.Battulga, launched his campaign in Chinggis, the capital of Khentii Province. He highlighted that Khentii Province was the first destination for his campaign because the province is Chinggis Khaan’s birthplace.

In making the election campaign’s opening remarks, Kh.Battulga emphasized that if he becomes the next president, he will work to make Mongolia a developed country by destroying the corrupt political system that has put pressure on its citizen’s shoulders by increasing taxes and making money by selling government positions.

Kh.Battulga visited the province’s central hospital to hear about the challenges facing doctors, hospital staff, and patients. Representatives from the hospital emphasized that despite moving into a new building, the hospital needs to buy much needed equipment. Kh.Battulga underlined that he has included comprehensive proposals to deal with a lot of challenges facing the healthcare sector in his action plan.

When he met with the province’s police officers, they told him that they face heavy workloads every day, but their salaries are very low and they are required to take out salary loans. They told the DP candidate that the state needs to take care of social affairs for police officers.

The Mongolian People’s Party (MPP) candidate, M.Enkhbold, announced his action plan for his presidency at the headquarters of the MPP, and then headed to Dornod Province to introduce his action plan to local residents. M.Enkhbold claimed that the two major points of his plan are to overcome the nation’s economic difficulties and to eliminate the unfriendly differences between Mongolians that have occurred in recent years.

S.Ganbaatar, the MPRP’s nominee, started his election campaign at Sukhbaatar Square, and told people gathered there that he has a plan to create a transparent government and society by destroying bureaucratic government systems.

 
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IFC-Supported New Collateral Registry in Mongolia Delivers Strong Early Results for MSMEs www.ifcextapps.ifc.org

Ulaanbaatar, Mongolia, June 5, 2017—Mongolia’s web-based Pledge Notice Registry—supported by IFC, a member of the World Bank Group—was launched in March of 2017 and has already accounted for over 10,000 moveable-collateral registrations by micro, small, and medium-sized (MSMEs) borrowers. The registry is backed by the Ministry of Justice and Home Affairs under the Mongolian Secured Transactions Reform Project. The registry, which officially commenced operations along with the enabling Law on Tangible and Intangible Movable Property Pledge, provides filing and enquiry services for all types of movable-asset security interests and similar transactions, such as finance lease, credit sale, sale and buy-back. 

This new web-based registration system represents a significant milestone under the Secured Transactions Reform Project. It enables creditors to search for existing interests on movable assets that they intend to use as collateral for a particular loan and to file security interest on their approved collaterals and establish priorities. It is an important foundation for the development of a movable-asset finance market in Mongolia. Typically, in developed markets, about 60 to 70 percent of business lending involves movable assets in various forms. 

Over the past several years, the IFC team worked with the Ministry of Justice, the Bank of Mongolia, the Mongolia Bankers’ Association, and other stakeholders to prepare the law and get it approved, develop the registry, and promote movable-asset finance to lenders. Of the more than 10,000 registrations to date, 38 percent is equipment, 25 percent livestock, 5.4 percent account receivables, and 1.7 percent vehicles. Women account for 23 percent of registrations. 

“The Pledge-Notice Registry has strengthened the confidence of lenders. This supports the further improving of access to capital for MSMEs, including agricultural businesses, in Mongolia,” said Unenbat Jigjid, CEO of the Mongolian Bankers’ Association. “The use of movable assets as the basis for lending is a new deepening of our financial markets, which will benefit the economy and help generate more employment and income for the population.” 

“We are very encouraged to see the strong and early results from the new registry,” said Tuyen D. Nguyen, IFC Resident Representative in Mongolia. “Mobilizing moveable collateral to boost access to finance, especially for MSMEs, can play a significant role in Mongolia’s sustainable economic recovery.” 

Previously, IFC has helped develop modern secured financing systems in about 40 emerging markets including China, Cambodia, Vietnam, Sri Lanka, and Ghana. In China alone, around $3 trillion debt financing backed by movable assets is disbursed every per year, benefitting a large number of MSMEs and others.

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Mongolia ready to take painful structural reforms to recover economy: FM www.news.xinhuanet.com

ULAN BATOR, June 6 (Xinhua) -- Mongolian Foreign Minister Tsend Munkh-Orgil said on Monday that Mongolia would be able to implement the structural reforms it has agreed to undergo with the International Monetary Fund (IMF), according to Nikkei Asian Review website.

"I am confident that the resources and money that will be lent to the Mongolian government will be used effectively to overcome the temporary economic problems," Munkh-Orgil said on the sidelines of the International Conference on The Future of Asia in Tokyo.

The resource-rich country has benefited from a commodities boom over the last 15 years or so. But a subsequent commodity price slump, investment outflows and slowing demand in key export markets have hit Mongolia's economy hard.

Last month, the IMF approved a three-year, 434-million-U.S. dollar loan for Mongolia as part of a wider 5.5 billion-dollar aid package which is also supported by Japan, South Korea, China, the Asian Development Bank and the World Bank.

The agreement was reached after the IMF admitted that Mongolia had met some of its demands, including raising taxes and cutting spending.

Some observers, however, questioned the ability of the Mongolian government to carry through the painful structural reforms needed to put the economy back on track.

But Munkh-Orgil said the reforms were inevitable. "With or without the IMF, we know that we must undertake these reforms. We have expanded fiscally -- a lot. We have stretched ourselves on [the] budget. We have reached unsustainable levels of government debt," he said.

The government is trying to respond through fiscal consolidation, and by bringing the budget under control, the minister said.

Mongolia aims to reduce the budget deficit, currently equivalent to 17 percent of the gross domestic product (GDP), to 10.2 percent by the end of this year. It aims to have a budget deficit equal to around 2 percent of the GDP by 2022.

"For the next several decades, the mining sector will continue to be the central linchpin of the Mongolian economy," Munkh-Orgil said, "But at the same time, mining is a very capricious animal. (The) fortunes and misfortunes of the mining sector can go up and down unexpectedly."

Mongolia is ready to diversify its economy, which currently relies on minerals for 90 percent of its export revenue, he said.

"We need to bring in more products, (put) more industries in play," the foreign minister said, "We need to engage the public and businesses in other areas that employ more people and bring more export revenues, like agriculture and tourism."

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Russian Social Network Now Allows Political Advertising - but There's a Catch www.themoscowtimes.com

Russian social network VKontakte has opened its advertising space for political candidates in the lead up to Russia's presidential election, but only for registered candidates reported Global Voices. 

According to the changed rules, the ban on political advertising has been amended to allow "campaign materials." Before being put on VKontakte, the materials must be presented to the country's Central Election Commission.

A list of mandatory documents includes "The Russian Federation Central Election Commission's decision on registering a candidate" according to the website's terms of service.

This has raised fears among some political analysts that the new rules will sideline opposition candidates such as Alexey Navalny, who are not registered with the Central Election Commission. 

Navalny, who is running for the presidency in 2018, would not be allowed to run campaign advertisements under the new rules.

Other smaller opposition parties who are not registered with the Commission could also be barred from running campaign advertisements on VK under the new rules.

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Bitcoin smashes $2,900 barrier to hit record high www.rt.com

Bitcoin’s rocketing rise in value shows no sign of abating after breaking the $2,900 mark Tuesday.

The digital payment reached a value of $2,967.48 at around 1.20pm UTC Tuesday, according to the Coindesk Bitcoin Price Index. The pricing is a record high for the cryptocurrency which has been hit with periods of volatility.

Bitcoin experienced an unprecedented surge in worth recently after trading for the first time above $1,500 back in May.

The spike has been linked to the legalisation of digital currencies in Asia in recent weeks. However, some financial observers suggest the hike is down to increasing confidence in the alternative currency.

“The biggest driver [of bitcoin] right now is you’re starting to see institutional investors take a keen interest in the entire sector,” financial commentator, Brian Kelly, said last month. “I don’t think this is hot money. This is real money that’s going to sit around and build the new internet.”

Bitcoin rival, ethereum, an open source platform providing ‘ether’ cryptocurrency, also received a boost this month.

The currency, which went live in 2015, reached an all-time high in value of $250.41 on Sunday.

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Mongolia proposes signing FTA with Eurasian Economic Union www.xinhuanet.com

ULAN BATOR, June 5 (Xinhua) -- Mongolia reportedly proposed signing a free trade agreement (FTA) with the Eurasian Economic Union (EAEU) in recent talks between Mongolian Prime Minister Jargaltulgyn Erdenebat and Chairman of the Eurasian Economic Commission (EEC) Tigran Sargsyan.
The two sides commended the results of cooperation between the two sides over the past two years during the talks, which was held as part of the St. Petersburg International Economic Forum between June 1-3, according to a press release of the EEC.
The Mongolian prime minister said that it has taken quite a long time to make significant progress in cooperation between the two sides, from signing a memorandum of trade and economic cooperation to reviewing specific initiatives set to intensify mutual trade and remove trade barriers.
The working group on the Mongolia-EEC cooperation held the second meeting in February. The two sides adopted a plan of action for 2017-2018 on trade policy, customs administration and fair competition among others.
"Jargaltulgyn Erdenebat came up with a proposal to sign a free trade agreement with the EAEU and to set up a joint group to review the viability of the deal," noted the press release.
The Mongolian prime minister invited the EAEU to talk over establishing a Eurasian transport and logistics network that would become a powerful driving force to promote cross-border cooperation in trade and economy.
The two sides also agreed to organize the first Eurasian business forum in Ulan Bator, capital of Mongolia, in autumn this year. "Our task is to make the forum successful and help it catch the eye of the EAEU business community. This could become an additional impetus to (the) Mongolia-EEC cooperation," said Sargsyan.
"We will consult all EAEU countries and then offer a jointly-agreed position to our Mongolian colleagues. The EEC is ready for all kinds of cooperation that help accelerate trade and foster relations among businessmen (in the region)," Sargsyan added.
The EAEU is an economic union of states located primarily in northern Eurasia. It groups Russia, Armenia, Belarus and Kazakhstan.

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Chinese transit flights through Mongolian airspace to increase gradually www.mongolia.gogo.mn

During the International Transport Forum’s 2017 Summit on Governance of Transport, which took place from May 31 to June 02 in Leipzig, Germany, Mongolian Minister of Road and Transport Development D.Ganbat met with delegates of the People' Republic of China led by Li Xiaopeng, Minister of Transport and exchanged views.

The sides exchanged views on numerous important issues, such as bilateral cooperation of Mongolia and China, future large-scale projects in the Mongolian road and transport sector and the issues that were discussed during the Belt and Road Forum for International Cooperation, which took place on May 14-15 in Beijing.
 
At the beginning of the meeting, Minister D.Ganbat congratulated the Chinese side for successfully holding the Belt and Road Forum and noted its contribution for starting the new generation of regional and multilateral cooperation. Also, he expressed his intention in coordinating the Belt and Road initiative and the Eurasian Economic Commission with Mongolian 'Development Path' program and promptly starting the establishment of transport network of the Economic Corridor program that connects Mongolia-China-Russia and trade development projects.
 
Minister D.Ganbat also informed that the Mongolian Ministry of Road and Transport Development is about to start the building of the first part of East Corridor Khuut-Bichigt route railroad line and Ulaanbaatar-Darkhan auto road as the AH-3 route’s partial reconstruction.
Also, Minister D.Ganbat emphasized the agreement on the comprehensive strategic partnership, which was discussed during President of China Xi Jinping’s visit to Mongolia in 2014, for bringing the possibilities of signing some important documents in transport, especially in the railroad sector.
 
The Ministry of Road and Transport development, after organizing a series of meetings concerning the border checkpoints, has successfully reached an agreement with the Chinese side. Therefore, an amendment was made to the bilateral agreement on Border Checkpoints between Mongolia and China, opening opportunities to broaden transport relations and regulations.
 
Settling the issues concerning Chinese airlines to transit through Mongolian airspace was a new development within the framework of cooperation between the two countries. The Minister agreed on working to increase Chinese transit flights through Mongolian airspace.
 
Chinese Minister of Transport Li Xiaopen expressed his appreciation towards the Government of Mongolia and the Ministry of Road and Transport Development of Mongolia for their proactive work to broaden cooperation between the two countries and noted its significance in contributing to the friendly cooperation between Mongolia and China.
 
During the International Transport Forum’s 2017 Summit on Governance of Transport, which took place from May 31 to June 02 in Leipzig, Germany, Mongolian Minister of Road and Transport Development D.Ganbat met with delegates of the People' Republic of China led by Li Xiaopeng, Minister of Transport and exchanged views.
The sides exchanged views on numerous important issues, such as bilateral cooperation of Mongolia and China, future large-scale projects in the Mongolian road and transport sector and the issues that were discussed during the Belt and Road Forum for International Cooperation, which took place on May 14-15 in Beijing.
 
At the beginning of the meeting, Minister D.Ganbat congratulated the Chinese side for successfully holding the Belt and Road Forum and noted its contribution for starting the new generation of regional and multilateral cooperation. Also, he expressed his intention in coordinating the Belt and Road initiative and the Eurasian Economic Commission with Mongolian 'Development Path' program and promptly starting the establishment of transport network of the Economic Corridor program that connects Mongolia-China-Russia and trade development projects.
 
Minister D.Ganbat also informed that the Mongolian Ministry of Road and Transport Development is about to start the building of the first part of East Corridor Khuut-Bichigt route railroad line and Ulaanbaatar-Darkhan auto road as the AH-3 route’s partial reconstruction.
Also, Minister D.Ganbat emphasized the agreement on the comprehensive strategic partnership, which was discussed during President of China Xi Jinping’s visit to Mongolia in 2014, for bringing the possibilities of signing some important documents in transport, especially in the railroad sector.
 
The Ministry of Road and Transport development, after organizing a series of meetings concerning the border checkpoints, has successfully reached an agreement with the Chinese side. Therefore, an amendment was made to the bilateral agreement on Border Checkpoints between Mongolia and China, opening opportunities to broaden transport relations and regulations.
 
Settling the issues concerning Chinese airlines to transit through Mongolian airspace was a new development within the framework of cooperation between the two countries. The Minister agreed on working to increase Chinese transit flights through Mongolian airspace.
 
Chinese Minister of Transport Li Xiaopen expressed his appreciation towards the Government of Mongolia and the Ministry of Road and Transport Development of Mongolia for their proactive work to broaden cooperation between the two countries and noted its significance in contributing to the friendly cooperation between Mongolia and China.
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Apple debuts HomePod speaker to bring Siri into the living room www.reuters.com

Apple Inc (AAPL.O) on Monday introduced the HomePod, a voice-controlled speaker that can make music suggestions and adjust home temperatures, taking aim at Amazon.com Inc's (AMZN.O) Alexa feature and Echo devices.
 
The move is the first into a completely new area by Apple for more than two years as the world's most valuable technology company looks to make up for a dip in iPhone sales and new ways to get customers to use more of its money-making apps and services.
 
Apple's Siri assistant will be integrated into the $349 speaker, and can make music recommendations that pair with the company's Apple Music service, send text messages, check news and sports scores and control compatible home gadgets like lightbulbs and thermostats.
 
HomePod users may initially be constrained by Siri's lack of capabilities as compared to Alexa, which also boasts the ability to order millions of Amazon products as well as food from restaurants like Domino's.
 
Apple is expected to announce plans this week to make its Siri voice assistant work with a larger variety of apps, but initial changes were expected to add just a small number of capabilities.
 
The HomePod speaker stands just under seven inches (18 cm) tall and is covered in fabric mesh that will come in white or gray. A computer processor will tune sound to the room and beam specific parts of music, like a singer's voice, toward the listener.
 
Apple will begin shipping the HomePod to the United States, Britain and Australia in December.
 
The speaker, while expected by some industry watchers, marked Apple's first new product announcement since the Apple Watch in September 2014. As a music-playing device, it will also be a challenger to Sonos, whose wifi-controlled speakers are used by many smartphone users for home entertainment.
 
The Cupertino, California-based company said Siri, which also competes with Alphabet Inc's (GOOGL.O) Google Assistant, will now work across devices.
 
A new Siri interface on the Apple Watch will also blend users' calendar information with other useful details, like airline tickets they may have booked, the company said.
 
Apple shares closed down 1 percent at $153.93, not far below the all-time high set last month.
 
Apple also used its annual developer meeting in San Jose, California - its largest ever with some 5,000 people attending - to offer hints about so-called augmented reality technology.
 
The technology, a feature of the wildly successfully smartphone game Pokemon Go, overlays digital information on real-world images and is seen as an area in which the keenly awaited 10th-anniversary iPhone can stand out from competitors.
 
New indoor maps of areas like malls and airports indicated that Apple might be laying groundwork to display information over images of those places in the future.
 
The company also rolled out tools for developers to create augmented reality applications for iPhones and iPads. To show the tools off, Apple invited Wingnut AR, the company formed by "Lord of the Rings" director Peter Jackson, on stage.
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FDI in Mongolia reaches USD 178.1 million www.montsame.mn

 
Ulaanbaatar /MONTSAME/ Foreign direct investment (FDI) inflow in Mongolia averaged USD 178.1 million as of April 2017, which was down by 39 percent compared to the same period of last year.
 
As for the FDI outflow from Mongolia, it increased by 15 percent to USD 4.4 million. The net flow amounted to USD 173.8 million, which is 40 percent less than last year. Bank of Mongolia informed that the Balance of Payment showed USD 75.2 million surplus at the end of April. The Minister of Finance previously stated “By joining the International Monetary Fund’s Extended Fund Facility financial arrangement, basic economic and fiscal conditions, such as the growth of foreign investors’ confidence, increased future investments, improved credit rating and decreased interest expense are expected”. Therefore, the FDI is expected to grow in the future. Within the framework of the IMF Extended Fund Facility program, the Bank of Mongolia has received the first stage deposit of USD 38.6 million in May.
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