1 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      2 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      3 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      4 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      5 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      6 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      7 SOLAR EMPOWERMENT OF NOMADS IN RURAL MONGOLIA WWW.GREENOPTIMISTIC.COM PUBLISHED:2019/02/15      8 MONGOLIA, CUBA TO BOOST BILATERAL RELATIONS WWW.PLENGLISH.COM PUBLISHED:2019/02/15      9 GOOGLE OUTLINES $13BN US INVESTMENT WWW.BBC.COM PUBLISHED:2019/02/14      10 NATIONAL DEVELOPMENT AGENCY TO COOPERATE WITH JAPAN’S MIZUHO BANK WWW.MONTSAME.MN PUBLISHED:2019/02/14      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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China-Mongolia trade increased 44.2 % year-on-year www.globaltimes.cn

For the first half of 2017, the trade between China and Mongolia reached $3.1 billion, an increase of 44.2 percent year-on-year, Qian Keming, vice minister of the Ministry of Commerce (MOFCOM), told a press briefing.

As of June 2017, China's non-financial direct investment (FDI) in Mongolia totaled $4.1 billion. Contributing to 30 percent of the country's FDI, China is the second biggest foreign investor in Mongolia, official data also showed.

To take China-Mongolia commercial cooperation to a new high, China will work with Mongolia to synergize the Belt and Road initiative and the Development Road strategy, tapping into respective comparative advantages for strengthened cooperation in infrastructure, agriculture, mining, resources and people's livelihoods, Qian said. 

The second China-Mongolia Expo is scheduled to be held in Hohhot, capital of North China's Inner Mongolia Autonomous Region, from September 26 to 30 to function as a new platform for China and Mongolia relations, MOFCOM announced on Tuesday. 

The theme of the expo is "Building China-Mongolia-Russia Economic Corridor, Embracing Global Cooperation and Win-win Results", Ai Lihua, Vice Chairperson of Inner Mongolia, told a press briefing. Both countries believe this is an optimistic platform that will enhance trade, investment, tourism and cultural exchanges and cooperation in Northeast Asia. 

China has been Mongolia's largest trading partner for a dozen or so years. In 2016, their bilateral trade stood at $4.61 billion, accounting for 60 percent of Mongolia's total foreign trade, according to official data. The two countries' economic and technical cooperation keeps deepening. To continue advancing the development of the ties, China has made efforts in assisting Mongolia in infrastructure, people's livelihoods and consumer goods as well as training over 3,600 people across the sectors. 

"Our bilateral cooperation mechanisms see continuous innovation. The two sides have actively leveraged the Mongolia-China Joint Committee on Economic and Trade Cooperation," Qian also said. "The two countries are also exploring the Erlianhot-Zamyn-Uud Cross-border Economic Cooperation Zone. The feasibility of a China-Mongolia free trade agreement will also be determined shortly," Qian continued.

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China-Mongolia Expo to strengthen bilateral economic ties www.chinadaily.com.cn

BEIJING - The second China-Mongolia Expo will serve as an important platform to improve economic cooperation and cultural exchange between China and Mongolia, the Ministry of Commerce (MOC) said Tuesday.

The biennial event, scheduled for September 26 to 30 in Hohhot, capital of China's Inner Mongolia autonomous region, will help promote China-Mongolia economic ties to a high level and improve cooperation among northeast Asian nations at large, Qian Keming, vice-minister of the MOC, said at a press briefing.

China has been the largest trading partner with Mongolia for more than a decade with bilateral trade up 44.2 percent year on year to reach $3.1 billion in the first half of 2017, he said.

Chinese investment in Mongolia has also seen robust growth with non-financial outbound direct investment reaching $4.1 billion by June this year.

Both countries will further strengthen bilateral cooperation in infrastructure, animal husbandry and mineral resources, Qian said.

Over 2,000 delegates from China, Mongolia and Russia will attend the expo to carry out pragmatic cooperation to strengthen economic ties, Ai Lihua, vice-chairman of Inner Mongolia autonomous region, said at the briefing.

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IMF Reaches Staff-Level Agreement on the First Review of Mongolia’s Extended Fund Facility www.imf.org

An International Monetary Fund (IMF) staff team led by Mr. Koshy Mathai visited Ulaanbaatar from July 19 to August 2 to conduct discussions on the first review of the three-year Extended Fund Facility (EFF) arrangement approved on May 24, 2017, in an amount equivalent to SDR 314.5054 million, or about US$434.3 million (see Press Release No. 17/193 ).

At the conclusion of the visit, Mr. Mathai made the following statement:

“The economy is rebounding, with GDP growth likely to reach 2 percent this year on the back of strong coal production and exports, high private investment, and a return of confidence following the approval of the $5.5 billion IMF-led package.

Performance under the program has been good, with all quantitative targets on track. Fiscal results have been better than expected, supported by strong revenues and tight expenditure control. About half of the revenue overperformance will be saved, thus helping to reduce borrowing and control debt, while the remainder will be used to fund productive spending in line with the government action plan. Net international reserves have improved, reflecting strong export performance and capital inflows into the government securities market.

The authorities have moved ahead with their ambitious structural reform agenda, which will help to sustain growth over the medium term. The strengthening of the banking system is underway: the Asset Quality Review will soon be launched, important legal reforms are being drafted, and improvements to the regulatory and supervisory framework are being implemented. On the fiscal side, steady progress is being made in strengthening tax administration, tax policy, and budgetary controls, including through the establishment of a Fiscal Council. To strengthen the social safety net and target expenditures toward the most vulnerable, the government is fine-tuning the Child Money Program, with a commitment to target the program to less affluent families from 2018 and use the savings to increase food stamps for the poor.

The authorities and the team have reached staff-level agreement on the completion of the first review under the EFF arrangement, which is subject to review by the management and Executive Board of the IMF. The Board is expected to consider the first review in late September, and this could lead to a disbursement of SDR 27.9560 million, or about $37.82 million.

The team thanks the authorities for their cooperation, constructive dialogue, and hospitality during its stay in Mongolia.”

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Facebook has developed a low-energy Bluetooth module for a mystery hardware device www.businessinsider.com

Facebook has designed a low-energy Bluetooth module to be used in a still-unspecified hardware device. 

The Bluetooth transmitter is attached to a printer circuit board, which Facebook says can only be installed by an original equipment manufacturer, according to FCC filings.

In other words, it's a component that will be integrated into some sort of device, which Facebook is keeping under wraps for now (much of the info in the filings is still confidential).

The filings, which were filed in June, come as evidence mounts suggesting Facebook is working on new consumer hardware. On Tuesday, Bloomberg's Mark Gurman reported that Facebook's Building 8 group was developing a video chat device and a smart speaker, similar to Amazon's Echo. Business Insider previously reported that Facebook recently patented a modular device that could function like a smart speaker with a touchscreen. 

There are a few clues in the filing that point to some kind of drone or telecommunications-related product. The filing is under FCL Inc, which is the name of the subsidiary that Facebook uses for drone-related technologies, such as its Aquila drone. And the contact name on some of the documents is Andrew Guhr, a Facebook lawyer whose LinkedIn bio describes him as Associate General Counsel, Telecommunications at Facebook.

Guhr's job description raises some intriguing possibilities for the mystery product:

"Advising on telecom laws and regulations around the globe on projects ranging from submarine cables, terrestrial networks, wireless networks, experimental technologies, and next-generation OTT services."

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National committee on environmental pollution reduction meets www.montsame.mn

Ulaanbaatar /MONTSAME/ “The Cabinet won’t fight against air pollution by means of distributing stove or enhancing fuel”, said Prime Minister J.Erdenebat.

He was addressing a regular meeting of National Committee for Environmental Pollution Reduction, the former National Committee for Air Pollution Reduction, which took place on August 1, Tuesday. “There’s no way we can fight against air pollution with what produces smoke”, he said.

Prime Minister and Head of the committee J.Erdenebat also stressed the necessity of taking efficient measures to prepare for winter in order to secure a safe living environment for everyone.

The meeting covered ‘Green loan’ fund, wintering preparations and progress of electrical overload prevention measures. The meeting was attended by members of the committee and representatives of other public organizations.

As of the first half of 2017, 114,512 residents of ger areas benefitted from electricity discount, with 6,363 households being newly connected to electricity. According to B.Nasantogtokh, Head of Department of Policy Management at the Ministry of Energy, winter preparations are 43 percent complete. He also reported that an information center for eco-friendly technology is ready to operate in four branches of the capital city one-window service offices.

The Prime Minister then issued several instructions. He assigned the Ministry of Justice and Home Affairs to take measures on facilitating the legal environment for ‘Green Loan’ fund; the Ministry to Energy to intensify winter preparation activities at the heat supply network, and continue the night-time electricity discount; and the authorities of the capital city and provinces to speed up the winter preparation actions in their respective administrative units in order to fulfill their goals within the autumn.

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Erdene Resource Development Corp (ERDCF) Shares Moving On Volume www.finnewsweek.com

Erdene Resource Development Corp (ERDCF) shares are moving today on volatility 1.85% or 0.012 from the open. The OTC listed company saw a recent bid of 0.6620 and 800 shares have traded hands in the session.

As we move deeper into earnings season, investors may be trying to figure out how to best position the portfolio for the rest of the calendar year. Maybe things haven’t gone as well as planned in the first half of the year, and a few tweaks need to be made to bolster profits in the second half. Closely watching the earnings reports may be a good way to see what companies are getting things right, and what companies have some work to do. Many investors will take notice if a company posts a much larger earnings beat or miss than expected. Not only will the stock most likely become a bit more volatile, but overall interest may be heightened as investors try to piece together the puzzle and figure out why there was such a discrepancy between estimates and actuals. Once the dust settles and the picture becomes a little clearer, investors may be able to properly rotate in or out of a certain name or sector. Finding stocks that look good on paper but have fallen out of favor with certain investors may be a good place to start doing some further number crunching. Locating those overlooked sectors with growth potential might be a good way to uncover those stocks that are ready to make a run.

Digging deeping into the Erdene Resource Development Corp (ERDCF) ‘s technical indicators, we note that the Williams Percent Range or 14 day Williams %R currently sits at -86.67. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.

Erdene Resource Development Corp (ERDCF) currently has a 14-day Commodity Channel Index (CCI) of -68.61. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Currently, the 14-day ADX for Erdene Resource Development Corp (ERDCF) is sitting at 35.59. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.

The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, the 14-day RSI for Erdene Resource Development Corp is currently at 39.05, the 7-day stands at 41.09, and the 3-day is sitting at 49.47.

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China, Mongolia to start joint feasibility study for FTA www.eng.yidaiyilu.gov.cn

China and Mongolia will soon start conducting a joint feasibility study for the development of a free trade zone, a Chinese official said on Aug. 1.

Qian Keming, a vice-minister of commerce, said the move highlights the ever strengthening Sino-Mongolian relations "on the basis of mutual respect, equality and benefit".
The Second China-Mongolia Expo is slated to take place in Hohhot, capital of China's Inner Mongolia autonomous region between September 26 and 30 this year. Through exhibitions, conferences and seminars, investment and trade negotiations, the expo will serve as a communication platform for all sides, Qian said at a press conference.
The biennial event aims to boost bilateral cooperation in politics, economy, education, health and culture, and to facilitate the Belt and Road Initiative and China-Mongolia-Russia Economic Corridor.
For over a decade, China has been Mongolia's largest trading partner. According to China's Ministry of Commerce, Sino-Mongolian trade amounted to US$3.1 billion in the first half of this year, up 44.2 percent from a year ago. In the same period, China's non-financial direct investment in Mongolia reached US$4.1 billion, accounting for 30 percent of Mongolia's total foreign investment.
Earlier in 2016, bilateral trade reached US$4.61 billion, accounting for 60 percent of Mongolia's export volume, data from the ministry shows.
China mainly exports gas, diesel, food, machinery and equipment to Mongolia, and imports natural resources, fur and raw materials.

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Apple shares sail to record high on healthy iPhone sales www.reuters.com

(Reuters) - Apple Inc on Tuesday delivered surprisingly strong fiscal third-quarter earnings and signaled that its upcoming 10th-anniversary phone lineup is on schedule, driving the stock up 6 percent to an all-time high in after-hours trading.

The stock climbed above its intraday record high to $159.10 after the company reported better-than-expected iPhone sales, revenue and earnings per share. The stock price move was expected to help drive the Dow Jones Industrial Average over the 22,000 mark on Wednesday.

Apple also said it hit a milestone of 1.2 billion iPhones sold.

The April-June quarter is traditionally a soft one for Apple as the market waits for the September launch of new iPhone models. But Tuesday’s results show that iPhone buyers may be less inclined than they once were to delay purchases until a new model is out.

The iPad product lines also showed unexpected strength, service revenue continues to grow at a healthy clip, and even the much-maligned Apple Watch showed a 50 percent sales increase.

Apple is widely tipped to adopt higher-resolution OLED displays for the latest iPhone, along with better touchscreen technology and wireless charging - which could come with a $1,000 plus price tag.

The phone is expected to launch in September.

The company forecast total revenue of between $49 billion and $52 billion for the current fourth quarter, while analysts on average were expecting $49.21 billion, according to Thomson Reuters I/B/E/S.

Apple's fourth quarter generally includes first-weekend sales of the company's latest devices.

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Gold shows solid performance in July www.mining.com

A struggling dollar and serious doubts about whether or not the U.S. Federal Reserve will raise interest rates again this year sent gold to its highest point in almost seven weeks.

Spot gold was down 0.1 per cent at $1,267.4 an ounce by 2:00 p.m. EDT, after rising to its highest since June 14 at $1,270.98. This means that the precious metal showed a strong performance in July, as it is on course for a 2.1 per cent rise this month.

U.S. gold futures settled down 0.1 per cent at $1,266.60.

Quoted by Reuters, Commerzbank analyst Eugen Weinberg explained that geopolitical tensions and internal uncertainty could mean a stronger demand for gold as the U.S. currency falls into its lowest in 16 months against a basket of currencies.

Silver, on the other hand, was up by 0.8 per cent to $16.79 an ounce, after rising to $16.88, the highest since June 29.

Palladium climbed 1.1 per cent to $886.30, and platinum rose 1 per cent to $938.30.

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Mongolia offers its help to Japan in holding talks with N. Korea www.asahi.com

Sodovjamts Khurelbaatar, Mongolia's outgoing ambassador to Japan, speaks about his experiences in both Japan and North Korea at the Embassy of Mongolia in Tokyo’s Shibuya Ward in July. (Satoru Semba)

Mongolia's outgoing ambassador to Japan pledged his country's cooperation in helping to resolve the decades-old issue of Japanese nationals abducted by North Korea.

Sodovjamts Khurelbaatar, in a wide-ranging interview with The Asahi Shimbun ahead of his departure home, also spoke about his impressions of North Korea's leader, Kim Jong Un, from his time as envoy in the reclusive state between 2008 and 2011.

“It is Mongolia’s duty to help solve the (abduction) issue as a partner (of Japan),” said Khurelbaatar, emphasizing the friendly ties the country's enjoys with both Japan and North Korea.

Khurelbaatar made clear that Mongolia is keen to see Japan develop more friendly relations with North Korea.

He also suggested that Mongolia's capital, Ulan Bator, be the setting for stalled six-party talks aimed at denuclearizing North Korea.

Khurelbaatar served as ambassador in North Korea toward the end of the regime headed by Kim Jong Il, Kim Jong Un's father.

He said that when he attended Kim Jong Il's funeral in December 2011, he met the current leader Jong Un and shook his hand.

“His hand was soft,” Khurelbaatar recalled. “I saw sadness in his eyes, but he was occasionally smiling, too.”

He said diplomats in North Korea were well aware before Kim Jong Il's death that his son would take over.

“Kim Jong Il used to see ambassadors from China and Russia, but stopped seeing high-ranking officials from other countries from two to three years before his death,” Khurelbaatar said.

Japan’s Prime Minister Shinzo Abe is also keen to further relations with Mongolia in light of its good relationship with North Korea.

In September 2013, when Tsakhiagiin Elbegdorj was visiting Japan as the president of Mongolia, Abe invited him to his private residence. Khurelbaatar accompanied the president to serve as an interpreter.

Khurelbaatar said the two leaders developed “a deep trust toward each other,” adding that the talks centered on steps they could take together to resolve the nuclear development and abduction issues.

In March 2014, a meeting was held in Ulan Bator so the parents of abductee Megumi Yokota could finally meet their granddaughter, Kim Un Gyong. Megumi was abducted by Pyongyang as a teenager in the 1970s. North Korea says she is no longer alive.

Pyongyang later promised to reopen its investigation into the abduction issue, but then reneged. The issue has been in limbo ever since.

Six-party talks aimed at getting North Korea to renounce is nuclear ambitions stalled in 2008.

Given this background, Khurelbaatar referred to the Ulaanbaatar Dialogue, an international conference on Northeast Asia security that was initiated by Mongolia in 2014, and said Japan should use it to hold discussions with North Korea.

“A war can break out, if one party remains stiff just because the other one is difficult to talk to,” said Khurelbaatar, emphasizing the importance of maintaining dialogue with North Korea, rather than just applying sanctions. “The most undesirable outcome is war.”

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