1 US-MONGOLIA 'THIRD NEIGHBOR TRADE ACT' ON THE WAY WWW.THEDIPLOMAT.COM PUBLISHED:2018/11/17      2 CHINA'S FIGHT AGAINST SMOG MAKES PALLADIUM 2018'S BEST METAL WWW.MINING.COM PUBLISHED:2018/11/17      3 MILLENNIUM CHALLENGE CORPORATION PRESENTS GMS LICENSES WWW.MONTSAME.MN PUBLISHED:2018/11/17      4 MONGOLIA CALLS FOR GLOBAL ATTENTION ON CLIMATE CHANGE WWW.NEWS.MN PUBLISHED:2018/11/17      5 ADB OPENS A NEW WASTEWATER TREATMENT PLANT IN ARVAIKHEER, MONGOLIA WWW.AGENPARL.EU PUBLISHED:2018/11/17      6 CHINA TO BOOST COOPERATION WITH INDIA, MONGOLIA: DEFENSE MINISTER WWW.GLOBALTIMES.CN PUBLISHED:2018/11/17      7 DEATH ON MONGOLIA’S ‘COAL ROAD’ WWW.NEWS.MN PUBLISHED:2018/11/17      8 MONGOLIA SHAKEN BY WIDENING LOAN SCANDAL WWW.ASIA.NIKKEI.COM PUBLISHED:2018/11/17      9 MONGOLIA’S UNEMPLOYMENT FALLS BY 2.2 PERCENT WWW.NEWS.MN PUBLISHED:2018/11/16      10 MEETING MEAT DEMAND: MONGOLIA TO TRADE 17.9 PERCENT OF LIVESTOCK WWW.NEWS.MN PUBLISHED:2018/11/16      БНСУ-ЫН АЖ АХУЙН НЭГЖҮҮДИЙН АУТСОРСИНГ ЗАХИАЛГЫГ ГҮЙЦЭТГЭХ ЗАЛУУЧУУДЫГ СОНГОН, ШАЛГАРУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/17     НҮҮРСНИЙ ЭКСПОРТ 10 ХУВИАР ӨСӨЖ, 31.3 САЯ ТОНН БОЛОВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/17     СУДАЛГААГААР ЖДҮ ЭРХЛЭГЧИД ЗЭЭЛИЙН ХҮҮНИЙ ЗАРДАЛ ХАМГИЙН ИХ ХҮНДРЭЛ УЧРУУЛДАГ ГЭЖ ХАРИУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ERDENE RESOURCE DEVELOPMENT: ХАЙГУУЛЫН ЗАРДАЛ III УЛИРАЛД 42 ХУВИАР БУУРСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ГОРХИ, ТЭРЭЛЖИЙН БАЙГАЛИЙН БОХИРДОЛД АНХААРАЛ ХАНДУУЛЖ ЭХЛЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     ИРЭХ БААСАН ГАРАГТ ХОТЫН ДАРГЫГ ОГЦРУУЛАХ ЭСЭХИЙГ ХЭЛЭЛЦЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     “АМГАЛАН” ХОТХОНД БАЙРЛАХ ГЭРТЭЭ КАННАБИС ТАРЬЖ, УРГУУЛЖ БАЙСАН ТУРК ИРГЭНИЙГ БАРИВЧИЛЖЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/17     ӨНӨӨДӨР АВТОМАШИНЫ ДУГААРЫН ХЯЗГААРЛАЛТ ҮЙЛЧЛЭХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/17     ГАШУУНСУХАЙТЫН НҮҮРСТЭЙ МАШИНЫ ЦУВАА 120 КМ БОЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/16     ТАТВАРЫН ОРЛОГО 32.2 ХУВИАР ӨСӨЖ, ТӨСВИЙН ТЭНЦЭЛ 341.9 ТЭРБУМ ТӨГРӨГИЙН АШИГТАЙ ГАРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/16    

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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Petro Matad : Signs LOI with Sinopec Mongolia to Drill Two Wells in 2017 www.4-traders.com

Further to the Company's announcement of 21 April 2017, Petro Matad is pleased to announce the awarding today of a Letter of Intent (LOI) to Sinopec Mongolia LLC (Sinopec) for the drilling of up to two wells in 2017. The LOI is subject to completion of all contractual negotiations, which are at an advanced stage and are expected to be completed soon. Sinopec will commence rig preparation for mobilization shortly after issuance of the LOI so the remaining contract negotiations will not cause further delay.
The Company's funding agreement with Bergen Global Opportunity Fund, LP, as announced on 8 May 2017, has put the Company in a strong financial position to execute this drilling campaign.
To provide the Company with additional financial flexibility, Petro Matad continues to be in farmout discussions with a number of interested parties.
Subsequent announcements will include specific information on the drilling programme.
Ridvan Karpuz, CEO of Petro Matad, said: "We are delighted to have reached agreement with Sinopec on the contractual framework for executing a drilling programme later this year. Sinopec has a proven track record of successful operations in Mongolia and fully understands the operating conditions in the country.
(c) 2017 Universal Solutions S.A.E. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers
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Listen to Children Day declared to give voice to Mongolian children’s needs www.theubpost.mn

Mayor of Ulaanbaatar S.Batbold declared that every Wednesday of the last week of May will be Listen to Children Day, to give voice to children’s concerns and respect their opinions.

During the second meeting of the Council for Children of Ulaanbaatar, the Mayor ordered representatives from every district to organize Listen to Children Day events every year.

“Listening to children and respecting their voices will directly benefit our work. We will be able to get more realistic results if children evaluate the investments, policies, and projects we carry out for them,” stated Mayor S.Batbold.

Nearly half the population of Mongolia lives in the capital, and more than 450,000 of the city’s residents (30 percent) are children, according to U.Gan-Ulzii, the head of the Children and Families Development Center. He emphasized the importance of paying more attention to children.

During Monday’s meeting, members of the council reported on projects and made recommendations related to children’s leisure. The results of The Voices of Adolescents survey conducted by Save the Children Mongolia NGO were shared to give the meeting’s attendees a better grasp of the challenges faced by teenagers in Mongolia.

The survey was conducted in Ulaanbaatar among 1,236 sixth, eighth, and tenth grade students between the ages of 11 and 16.

Children’s Rights Governance Program Coordinator of Save the Children Mongolia E.Tsolmon said, “Children must be allowed to exercise their right to freely express their thoughts in every environment. Listening to children’s opinions and reflecting them in our activities is the responsibility of adults. Raising children’s awareness about exercising their rights, identifying violations of their rights, reporting such instances, and voicing ideas for potential solutions is a normal practice in democratic societies.”

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Top CEOs tell the CEO president: You're wrong on Paris www.cnn.com

General Electric CEO Jeff Immelt is not happy with President Trump. And he's not alone.
Dozens of top executives urged Trump not to pull the U.S. out of the Paris climate agreement. Now, many are voicing their displeasure.
"Disappointed with today's decision on the Paris Agreement. Climate change is real. Industry must now lead and not depend on government," Immelt said on Twitter shortly after Trump's announcement.
Elon Musk, the CEO of Tesla (TSLA) and SpaceX, announced that he's quitting the president's business advisory councils because of the decision.
"Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world," he said on

Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world.

Marc Benioff, the chief executive at Salesforce (CRM, Tech30), also voiced his disappointment.
"Deeply disappointed by President's decision to withdraw from Paris Agreement. We will double our efforts to fight climate change," he said.

Deeply disappointed by President's decision to withdraw from ParisAgreement. We will double our efforts to fight climate change.

Microsoft (MSFT, Tech30) president Brad Smith echoed those sentiments.
"We're disappointed with the decision to exit the Paris Agreement. Microsoft remains committed to doing our part to achieve its goals," he said.

Google (GOOG) CEO Sundar Pichai also weighed in.
"Disappointed with today's decision. Google will keep working hard for a cleaner, more prosperous future for all," he said.

Meanwhile, over on Facebook (FB, Tech30), CEO Mark Zuckerberg shared his own chagrin.
"Withdrawing from the Paris climate agreement is bad for the environment, bad for the economy, and it puts our children's future at risk," Zuckerberg said.

In recent months, hundreds of companies have lobbied the Trump administration to remain in the agreement. Apple (AAPL, Tech30), Starbucks (SBUX), Gap (GPS), Nike (NKE), Adidas (ADDDF), L'Oreal (LRLCF) and Monsanto (MON) all voiced their support for the Paris deal.

Even oil companies like ExxonMobil (XOM) and Chevron (CVX) gave their backing. Exxon CEO Darren Woods wrote Trump a personal letter earlier this month asking him to remain in the pact, saying it ensures the U.S. is "well positioned to compete."

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Russia has no plans to privatize oil sector - Kremlin responds to Kudrin www.rt.com

The Russian government has no plans to sell the state’s share in major oil companies like Rosneft, according to the President’s press secretary Dmitry Peskov.

The statement was issued in response to a proposal from former Russian Finance Minister Aleksey Kudrin during the St. Petersburg International Economic Forum (SPIEF).

During the Forum, Kudrin said the Russian government should privatize all state-owned oil firms by 2025.

"The oil sector should be fully privatized in the next 7-8 years, no state companies are needed now as state ownership brings more harm than benefit to those companies," he told the TASS news agency, adding that oil companies can deal with problems without government participation.

“It turns out that the private sector reacts more quickly to all these new changes. Reducing the public sector and increasing the private sector is within our power,” said Kudrin.

Russia's dependence on oil and gas exports resulted in a two-year recession, which finished at the end of 2016. Kudrin has repeatedly urged President Vladimir Putin to consider oil privatization to help revive economic growth.

“This is a well-known expert point of view of Aleksey Kudrin. His arguments are reasonable enough. There are also other points of view. As far as I know, the government has no such plans yet," Peskov said.

Kudrin is now working for the Kremlin in an unofficial capacity developing an economic plan for Russia in competition with other independent economists.

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China expresses commitment to Paris deal www.nhk.or.jp

Chinese Premier Li Keqiang says his country will fulfill its commitments in the Paris Agreement on climate change.

Li was speaking at a joint news conference with German Chancellor Angela Merkel in Berlin on Thursday.

He touched on reports that US President Donald Trump will soon make a decision on whether to pull his country out of the landmark climate deal.

Li expressed resolve that China will continue tackling global warming in cooperation with the international community, despite any decision by the US.

Li also suggested that China is ready to offer financial assistance to island nations vulnerable to climate change.

Merkel welcomed Li's comments, saying she is glad China will continue to pursue the Paris deal.

Chinese Foreign Ministry spokesperson Hua Chunying told reporters that Beijing will continue with its measures against climate change even if other countries change their position.

She added that Beijing will sincerely implement the Paris deal.

As the world's largest and second-largest emitters of greenhouse gasses, China and the US had played a leading role on the issue until Trump took office.

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EBRD finances expansion for Gobi cashmere in Mongolia www.ebrd.com

Funding facility with up to US$ 16 million will help company increase retail and production

In a boost to the local economy the EBRD is extending new financing to Gobi JSC, a leading cashmere garments maker in Mongolia. The funding facility, with a volume of up to US$ 16 million, will support the crucial sector and contribute to a more resilient and sustainable economy.

Cashmere is a key export commodity for Mongolia, second only to products from the mining industry. Developing a sustainable cashmere industry and value chains is one of the EBRD’s strategic priorities in Mongolia, where the Bank supports diversification from the mining sector.

Gobi JSC is the largest vertically integrated cashmere and camel wool processor and garments manufacturer in Mongolia. The EBRD financing will support the opening of a new flagship store in the Ulaanbaatar Galleria, a new shopping mall in the country’s capital. It will also finance a capacity increase and the modernisation of sewing equipment. Gobi JSC will increase purchases of raw cashmere from herders in remote areas to expand production of garments.

The company, a long-standing client of the Bank, will obtain a total of US$ 16 million in EBRD financing: a US$ 12 million six-year loan and a US$ 4 million working capital facility for up to three years. The working capital facility will provide Gobi JSC with more flexibility, allowing the company to access funds as necessary for seasonal purchases of raw material.

Irina Kravchenko, EBRD Head of Mongolia, said: “We are proud to support Gobi JSC’s expansion. The company shows that Mongolia can produce not only raw cashmere for foreign garments manufacturers, but that it can itself make desirable, quality clothes. We are also working with other stakeholders in the cashmere industry to improve sustainability and quality standards.”

Baatarsaikhan Tsagaach, CEO of Gobi JSC, added: “Firstly, we would like to express our appreciation to the EBRD team for contributing to the development of the manufacturing sector in Mongolia, specifically the cashmere industry. We are pleased that Gobi JSC has been successfully cooperating with the EBRD since 2009. In this period we have become the largest cashmere producer in Mongolia and the face of Mongolian cashmere on the international arena. We believe that the long-standing relationship with the EBRD is one of the important factors that contributed to our success.”

Mongolia produces about 50 per cent of the global supply of raw cashmere, which is a reliable source of income for nomadic herders, bolstering a traditional lifestyle threatened by rapid urbanisation. The EBRD is planning a technical cooperation (TC) project, with additional contribution from Gobi JSC, aimed at developing a sustainable cashmere supply. With this TC the suppliers and cashmere goat herders in remote areas will get educated and trained on how to increase the quality and sustainability of the fibre.

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IMF Executive Board Concludes 2017 Article IV Consultation for Mongolia www.imf.org

On May 24, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the 2017 Article IV Consultation[1] with Mongolia.

Mongolia’s longer-term prospects are promising given its large natural resources. In recent years, however, the economy has faced substantial challenges, as external shocks and expansionary fiscal and monetary policies have compounded structural weaknesses. The new government that took office in 2016 has expressed a strong commitment to strengthen macro policies and implement structural reforms in order to stabilize the economy and lay the basis for sustainable, inclusive growth in the future.

Mongolia remains heavily exposed to external shocks, given its export profile, and a key challenge will be to avoid the boom-bust cycles of the past. The discussions thus focused on improving the fiscal framework and strengthening policy discipline, complemented by structural reforms to boost diversification and competitiveness and by efforts to strengthen and better target the social safety net.

Executive Board Assessment[2]

Executive Directors noted that Mongolia had been hit hard by the fall in commodity prices and a slowdown in key export markets. Efforts to offset the impact of these external shocks through expansionary policies had proved unsustainable, leading to large fiscal deficits, high and rising debt and a fall in international reserves. Directors commended the new government for a strong commitment to restore stability and lay the foundations for sustained, rapid, and inclusive growth through sound macroeconomic policies and structural reforms, as reflected in its Economic Recovery Plan. Coordinated financial assistance from development partners, sizeable fiscal adjustment and continued engagement with private creditors will help restore debt sustainability as envisaged under the program to be supported by the IMF’s Extended Fund Facility Arrangement.

Directors stressed that fiscal consolidation and discipline are central to regaining durable debt sustainability. They supported plans to reduce non-essential expenditures, and increase tax revenues and pension contributions. Directors supported the commitment to implement the rules-based fiscal framework, including an end to quasi-fiscal operations of the Bank of Mongolia and the Development Bank of Mongolia, and the establishment of an independent fiscal council. They welcomed plans to strengthen public financial management and tax administration, and tighten the framework for public-private partnerships. Directors underlined the need to enhance the social safety net, strengthen the pension system, and improve program targeting to protect the most vulnerable sections of society.

Directors underscored that monetary policy should remain appropriately tight to contain inflationary pressures, even as there will be room to lower the policy rate from the current high level if inflation remains low and confidence is restored. The exchange rate should remain flexible and market-determined with intervention limited to addressing disorderly market conditions.

Directors stressed the need to strengthen the banking system through special audits and recapitalization of banks as well as upgrades to the regulatory and supervisory framework. Directors welcomed steps, including the new Bank of Mongolia law, to strengthen the independence and governance of the central bank. The renewed focus on implementing an effective anti-money laundering framework would help attract foreign investment.

Directors emphasized the need to promote inclusive growth through a focus on sustainable mining, economic diversification, and further regional integration. In addition, structural reforms should aim to improve the business climate, address supply-side bottlenecks, and deepen access to finance.

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Final stage of project on mother and child health launched www.vom.mn

‘Innovation in maternal and newborn health services in Mongolia: from pilot to institutionalization’, the exit phase of the Telemedicine project is successfully launched.

Final stage of project on mother and child health launched. ‘Innovation in maternal and newborn health services in Mongolia: from pilot to institutionalization’, the exit phase of the Telemedicine project is successfully launched. With the project implementation, the sub-province centers were connected to the National Health Center for Mothers and Children via online network, enabling the patients in rural areas to receive medical advice and required information without coming to the city. The project also contributed to the reduction of maternal mortality, which decreased by 75 percent compared to that of 1990. Mongolia, thus, became one of the nine countries that have fulfilled their duties on reducing maternal mortality rates under the Millennium Development Goals, said Minister A.Tsogtsetseg during the signing ceremony of the project implementation agreement. The final stage will comprise works including conducting maternal and reproductive education training, capacity building for medical workers and making online network and mobile technology an inseparable part of our healthcare system. The project has been under realization since 2007 with the support of UN Population Fund and the Government of Luxembourg.

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Wind turbine installed in Gobi Desert www.vom.mn

The first steps towards erecting turbines at the 50MW Tsetsii wind farm in Mongolia have been taken as the unfavorable weather conditions have cleared said Vestas, a Danish wind energy company.

Wind turbine is installed in Gobi Desert. The first steps towards erecting turbines at the 50MW Tsetsii wind farm in Mongolia have been taken as the unfavorable weather conditions have cleared said Vestas, a Danish wind energy company. The first tower section successfully installed at the project is located in the Gobi desert in Mongolia's south. In February, the Danish manufacturer said that high winds and extreme cold had halted general construction at the site. However, it continued transporting turbine components to the site while the poor weather conditions prevailed. Overall progress on the project remains ahead of schedule, Vestas said in its latest update.

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‘Achieving a New Balance on Global Stage’ at St. Petersburg International Economic Forum www.rt.com

Russia is ready to host the annual St. Petersburg International Economic Forum (SPIEF 2017) on Thursday. Among the issues to be discussed are problems in the global economy and Russia’s economic growth after the recession.

Russian President Vladimir Putin will meet the Indian Prime Minister Narendra Modi, Austrian Chancellor Christian Kern, and other world political and business leaders.

The SPIEF 2017 agenda includes the BRICS Business Forum and B20 (the G20 dialogue with the global economy) Forum on international trade and investment, a Russian–Indian Forum of Corporate Executives, the traditional Energy Summit of Corporate Executives, and business dialogues, including Russia–USA, Russia–France, Russia–Latin America, Russia–Switzerland, Russia–Japan, Russia–Africa, and others.

The heads of several European oil companies, including Total, Royal Dutch Shell, and BP will be attending.

Organizers say there is a significant interest in the event. Confirmations are up 15 percent from last year, St. Petersburg Governor Georgy Poltavchenko told RIA Novosti last week.

This year, a larger number of US businesses are also attending the Forum. Barack Obama’s administration discouraged US companies from participating last year, but under Donald Trump, the situation looks different.

"A large number of US business leaders are planning to attend the St. Petersburg Economic Forum this year… Now it is getting clear that there will be more US business leaders at the SPIEF, and the delegation will be more substantial, we are expecting those organizations which could not previously attend the forum for a number of reasons," Russia's trade representative in the United States Aleksandr Stadnik told Sputnik.

Though fewer CEOs are expected this year, organizers say that in business terms, it is even better.

“It may be better to have a key decision maker for emerging markets attend than a CEO. Everyone loves to see well-known, Davos-level participants attend the forum, but if you want to get practical stuff done, give me someone who focuses on business in Russia,” Dan Russell, head of the Washington-based US-Russia Business Council told Bloomberg.

The opening ceremony will see a speech from United Nations Secretary-General Antonio Guterres.

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