1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      НУРАХ ДӨХСӨН БАЙРУУДЫГ ШИНЭЧЛЭХ КОМПАНИ ОЛДОХГҮЙ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛС ВАШИНГТОН, ПЁНЬЯНЫ ХЭЛЭЛЦЭЭРТ ЗУУЧЛАХАД БЭЛЭН ГЭДГЭЭ ЗАРЛАЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20    

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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Brexit economy: living standards are falling as the snap election looms www.theguardian.com

 
The pound’s sharp fall since the Brexit vote and a mood of uncertainty among employers has hit household budgets, creating a tough economic backdrop for Theresa May’s snap election, a Guardian analysis shows.
 
The prime minister will be hoping the resilience seen in the UK economy will hold over the coming months now that she has called an election for this June. But the Guardian’s monthly tracker of economic news shows living standards are already falling as rising prices outpace meagre pay growth.
 
That bodes ill for an economy reliant on household spending and the latest indicators from Britain’s retail and leisure industries suggest they are feeling the effects of a tightening consumer squeeze. The export sector has failed to offset that domestic drag and GDP figures due this week are expected to show the economy slowed markedly at the start of this year.
 
Still, lending support to those who say May was right to call a vote sooner rather than later, unemployment remains low, the housing market is steady, stock markets are near record highs and business activity continues to rise – albeit at a slower pace.
 
The economy appears to have lost momentum but has comfortably avoided the recession some had predicted in the wake of the Brexit vote. Last week, the International Monetary Fund was forced to admit yet again that it had been too gloomy on the consequences of the Brexit vote as it revised up its UK growth forecast for the second time in three months.
 
Writing in the Guardian, Andrew Sentance, a former member of the Bank of England’s monetary policy committee, said support for the UK from a strong global economy was being offset by domestic pressures.
 
“There are two big themes which stand out from this month’s data, and they show the UK being pulled in opposite directions by the global economy and consumer spending,” said Sentance, a senior economic adviser at the consultancy PwC.
 
“We should expect the consumer slowdown to dominate the growth picture over the course of this year ... GDP growth figures for the first quarter released at the end of this week are likely to confirm that the UK economy is already slowing.”
 
To gauge the impact of the Brexit vote on a monthly basis, the Guardian has chosen eight economic indicators, along with the value of the pound and the performance of the FTSE.
 
The dashboard for April shows retail sales have dropped, inflation is at its highest for more than three years, wages are falling in real terms and Britain’s trade performance has deteriorated. But unemployment remains low, house prices continue to edge up and businesses are expanding. The deficit of the public finances fell over the last year and the government hit its borrowing target. But the public finances were worse than market expectations for the latest month.
 
Compared with economists’ forecasts, there was a worse-than-expected performance in three of the eight categories. Two were better than expected, with three as forecast.
 
Stock markets remain near record highs and the pound has been given a fillip by news of the election, with investors predicting the result will strengthen May’s position in Brexit negotiations with her EU counterparts.
 
But, compared with the day of last June’s referendum, the pound is still down 14% against the US dollar and 10% against the euro. That weakness is now making itself felt in the real economy as imports become more expensive and shoppers are paying higher prices for a whole range of goods and services, from food to fuel.
 
The pound effect has combined with higher global oil prices to lift inflation to a rate of 2.3% in February and March, above the Bank of England’s 2% target.
 
But while inflation is expected to climb higher, wage growth looks set to slow. Employers are grappling with higher costs that give them less leeway for pay rises and the government continues to implement a public sector pay freeze.
 
The latest official figures show workers were already worse off in real terms in February as pay rose 1.9% on the year but inflation stood at 2.3%. That pay weakness was despite Britain’s unemployment rate remaining at 4.7% – its joint lowest since 1975 – and continued reports of skills shortages.
 
Reflecting tighter household budgets, retail sales volumes suffered their biggest drop in seven years over the opening months of 2017, dragging on the overall economy rather than acting as a driver of growth as they usually do. In other signs of the strains on consumers, there has been an increase in borrowing on credit cards while a key measure of what households have available to save has hit a record low.
 
David Blanchflower, another former Bank of England policymaker, said consumer spending was being supported by people borrowing more and running down their savings but that could not last.
 
“Support for Brexit is likely to be driven by how the economy performs and whether living standards hold up and they aren’t,” said Blanchflower, professor of economics at Dartmouth College in the US.
 
“I am hoping for some good economic news next month. I didn’t see much of any this month.”
 
There have been upsides from a weaker pound, including an influx of foreign tourists splashing out in British shops, restaurants and hotels to take advantage of the relative strength in their own currencies. Exporters also report that the pound’s drop has made their goods and services more competitive in overseas markets but the latest official trade figures were weaker than expected.
 
That overseas boost was clear in a set of business surveys that are closely watched by investors and policymakers for early clues to GDP growth. But while activity has continued to expand according to those Markit/CIPS purchasing managers’ indices (PMIs), their compilers say there has been a change of pace since last year and that GDP growth likely slowed to 0.4% in the first quarter of 2017 from 0.7% in the final three months of 2016.
 
The first official snapshot of GDP growth in the opening months in the year is due on Friday and economists polled by Reuters also expect growth to slow to 0.4%.
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Mongolia to expand cooperation on conservation with Sweden www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Minister of Environment and Tourism D.Oyunkhorol met with Anna Lindstedt, Sweden’s Ambassador to Mongolia who is on a visit to Mongolia on April 24-27 for her Accreditation ceremony.
 
At the beginning of the meeting, the Minister talked about climate change effects in Mongolia, how the country strives to be ecologically sustainable and Mongolia’s ratification of the Paris Agreement. “Ulaanbaatar city was first planned for 500 thousand people, but 1.3 million people reside in the capital city now, leading to high levels of air and soil pollution”, Minister D.Oyunkhorol said.
 
She said that the Ministry was working towards diversifying and greening the mining-dependent economy of Mongolia, and therefore would like to exchange experience with Sweden in this area, and expand cooperation in environmental conservation and tourism.
 
For her part, Anna Lindstedt expressed readiness to work with the Mongolian Ministry which is prioritizing green development and tourism. “As Sweden’s Ambassador for Climate Change, I will be happy to connect the Ministry to related organizations and support your activities against climate change”, she said.
 
 
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MBD Business delegates are heading to Washington DC www.mongolianbusinessdatabase.com

 

MBD business delegates from different business sectors including mining, transportation, construction material and cashmere are heading to Washington DC for North America-Mongolia Business Council's 27th AGM and Investors Forum between 26-28 April.

Distinguished guests including Ms.J.Galt US Ambassador to Mongolia, Mr.B.Altangerel Mongolian Ambassador to USA, Mr.R.Altangerel Mongolian Ambassador to Canada and experts from Mongolia and North America will discuss the outlook for Asia policy under President Trump and prospects for renewed Mongolian economic growth. Eight US Ambassadors to Mongolia will share their views on three decades of US-Mongolia relations.

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Stock exchange weekly review (April 17-21) www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During the period between April 17 and 21, 2017, MSE conducted 5 trading sessions with a total value of MNT 24,523,399,191.85. The daily average trading valued at MNT 4.9 billion.
 
Stock trading:
2,103,889 shares of 43 listed companies with a total value of MNT 3,146,864,441.85 were traded. From the total amount, 1,869,321 shares of “Darkhan Selengiin Tsahilgaan Tugeeh Suljee” JSC’s were traded with a total value of MNT 2,998,390,884.
 
Government retail bonds trading:
230,000 government retail bonds with a total value of MNT 20,452,060,000 were traded through one trading session.
 
18,920 government retail bonds with a total value of MNT 1,848,949,500 were traded on secondary market through 7 trading sessions.
 
As of April 21, 2017, the market capitalization valued at MNT 1,492,287,054,233 and “MSE ALL” index increased by 0.14% to close at 838.88 units.
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Mongolia tourist arrivals reaches 76.6 thousand in first quarter of 2017 www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Mongolia’s Visitor Arrivals recorded 629.3 thousand persons in the first quarter of 2017 and 552.8 thousand of them were permanent residents. In relation to the data, Tourist Arrivals recorded 76.6 thousand, which is 12 percent of the Visitor Arrivals. According to the Ministry of Environment and Tourism, the number reached an all-time high of 475.8 thousand in 2012.
 
The People’s Republic of China still composes larger part of the Tourist Arrivals, followed by the Russian Federation, Japan and the Republic of Korea (ROK). Within the given time frame, a total of 23.1 thousand Chinese visitors arrived in Mongolia. The number of Russian visitor arrivals in Mongolia increased by 54.4 percent. Although the data shows an increasing result of 25 percent in Chinese visitor arrivals in Mongolia, the number of Hong Kong visitors decreased by 30.5 percent.
 
As for the Federal Republic of Germany, ROK and Japan, which are considered target markets for Mongolian travel and tourism industry, the data shows an increasing number of visitor arrivals compared to last year. According to the General Authority for Border Protection, a total of 45.1 percent of the total number of tourist arrivals since 2000 were from Europe, while 46.3 percent were from the Asia-Pacific region and 7.5 percent were from the Americas.
 
In the World Economic Forum’s Travel and Tourism Competitiveness Report of 2017, Mongolia’s rank fell behind 3 ranks, down to 102nd in the world. This would mean Mongolia’s travel and tourism environment is valued equal to that of Cambodia and Nepal. The report indicates the sector’s slowdown was due to poor quality of service, lack of planning and diversification in Mongolia.
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Domestic cement manufacturers have capacity to produce 4.3 million tons per year www.mongolia.gogo.mn

 
As of today, a total of seven cement manufacturers are operating in Mongolia with the capacity to produce 4.3 tons of cement per year.
In addition, "Ulgii cement" and "Ah shohoi" companies have commenced the construction of two cement factories in Bayan-Ulgii aimag. The construction process of these factories is at 40-80 percent.
Moreover, Hermes gahiur LLC get licensed to build cement factory based on limestone deposit which locates in Dornogobi aimag. However, the company completed only external infrastructure works and has not started the construction yet. As preliminary research, this cement factory will have the capacity to produce 150-200 thousand tons of cement per year, reports Ministry of Mining and Light Industry.
Meanwhile, cement manufacturers state that due to delayed mortgage lending process, the construction sector has halted which resulting a decrease in cement demand.
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GGGI Country Representative awarded Ministerial Certificate of Merit for advancing Mongolia’s Green Growth www.gggi.org

 
On April 21, GGGI’s Country Representative to Mongolia, Mr. Jon Lyons, was awarded the Environment Ministerial Certificate of Merit for outstanding contributions to Mongolia’s development and natural resource stewardship.
 
The Award was presented by H.E. Batbayar Tserendorj, Vice Minister for Environment and Tourism, together with key technical Director-level partners and GGGI’s country team.
 
This high-level award may be issued by Cabinet members to recognize outstanding contributions to the policy and development goals of a given sector. In Mongolia, the Ministry of Environment and Tourism is charged with leading the implementation of the National Green Development Policy, which forms the foundation of the country INDCs to the Paris Agreement on Climate Change.
 
“This award recognizes the outstanding collaboration and effective contributions to Green Development of GGGI in Mongolia under Mr. Lyons’ leadership,” said Vice Minister Batbayar. “The Ministry of Environment and Tourism looks forward to further deepening its collaboration with GGGI.”
 
The Ministry of Environment and Tourism is GGGI’s primary government counterpart in Mongolia, overseeing all technical and advisory services for green development implementation as well as participating as a Member in the GGGI Assembly.
 
 
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Residential relocation to be restricted starting on April 26 www.theubpost.mn

 
A 60-day restriction on residential relocation will be applied across Mongolia from April 26 to June 27, ahead of the presidential election.
 
Head of the General Authority for Intellectual Property and State Registration R.Sodkhuu issued the order on April 20, in accordance with Article 66 of the Election Law, which states that all movement between districts and provinces will be restricted for 60 days prior to regular and irregular parliamentary, presidential, and provincial elections.
 
The restriction will take effect at 6:00 p.m. on April 26 and end at 8:00 a.m. on June 27, when polling stations for the presidential election have closed.
 
R.Sodkhuu instructed all residential registration departments across the country to expedite applications for changes of residence before the restriction takes effect.
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TIKA to finance infrastructure development www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ A working group led by J.Munkhbat, Member of Parliament and Head of Cabinet Secretariat worked in Khashaat, Ugiinuur and Khotont soums of Arkhangai aimag on April 22-23, and got acquainted with the functions of cultural, educational and health organizations of the soums, solving some financing source issues on the spot.
 
In specific, Turkish Cooperation and Coordination Agency (TIKA) will finance some construction, repair and infrastructure renovation works which were reflected in the 2017 state budget and budget amendments but were not approved. In addition, Authority for State Property Policy and Management resolved to aid the cultural centers of Ugiinuur and Khotont soums by issuing 500 seats.
 
Veysel Ciftci, TIKA Ulaanbaatar Program Coordinator expressed that the agency will prioritize the financing of reconstruction of sewage pipes and infrastructure development for medical centers in the soums.
 
Member of Parliament J.Munkhbat also said that he will work on solving these challenges faced by the residents of Ugiinuur, Khashaat and Khotont soums in the near future.
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MSE meets with FTSE Russell regarding retention of Mongolia on Frontier market watch list www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The representatives of the Mongolian Stock Exchange JSC, namely Chairman N.Manduul and CEO Kh.Altai, held a meeting with officials of FTSE Russell London, Joti Rana, Head of Governance & Policy, Janet Cumberpatch, Committee Secretary and Rakesh Hira, Deputy Committee Secretary, during the Mongolia London Business Forum organised in London, United Kingdom.
 
Mongolia was placed on the Frontier Market Watch List in 2012 for possible inclusion in the classification, however FTSE Russell has informed its intention to remove Mongolia from the Watch List due to the limited progress over recent years against the outstanding criterion requirements, as reported previously.
 
In order to remove the obstacles to meet the criteria for Frontier Market status, MSE has formed a working group consisting of the Clearing House, Central Securities Depository and Mongolian Association of Securities Dealers and is actively working towards the readoption of the T+3 settlement cycle and the introduction of Delivery versus Payment (DvP) mechanism.
 
During the meeting with FTSE Russell, MSE representatives requested their consideration for retaining Mongolia on the Watch List at the September 2017 Annual Review and voiced our commitment to adopting an action plan for meeting the criteria and continuously reporting the progress of its implementation.
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