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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Border checkpoints to increase capacity by next year www.montsame.mn

Ulaanbaatar /MONTSAME/ During the Parliamentary Standing Committee on Budget’s meeting on May 30, a discussion was held on the Parliament’s draft resolution of the “Basic Guidelines for 2018 socio-economic development”.

MP O.Batnasan said during the discussion, “The guidelines must be approved under valid grounds. Constructing hydropower plant in Erdeneburen soum of Khovd aimag is the main focus for the western aimags. Hydropower plant is a self-funding industry. Presently, we are buying 1 kWh energy for MNT 280 from China. According to the feasibility study, 1 kWh energy will be MNT 37 with the hydropower plant. Therefore, we need to focus more on this project. Also, how much fund is expected for the development of border checkpoint operations?”

B.Choijilsuren, the Minister of Finance responded to the question “The People’s Republic of China will be depositing CNY 350 million of non-refundable aid. And most of the fund will be used for the development of the border checkpoints and infrastructures in the southern region. The procurement will be announced in the third or fourth quarter of this year. This will settle the issues of border checkpoints near China.

Also, a negotiation has started with Asian Development Bank to settle the issues concerning the development of border checkpoints near the Russian Federation.

The Standing Committee has decided to submit the guidelines for 2018 to Parliamentary Standing Committee on Economy.
B.Tugsbilig

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Preparation works to start some major projects completed www.montsame.mn

Ulaanbaatar /MONTSAME/ Within the implementation of the Government action plan in 2016-2020, preparation works for starting projects of Tavantolgoi, Gatsuurt and Bagakhangai power plant have completed, said Finance Minister B.Choijilsuren.

Today, Budgetary standing committee of Parliament held the first hearing of Parliamentary resolution draft on adaptation of Basic guidelines of social and economic development of Mongolia in 2018. The Finance Minister and other officials answered questions of parliament members during the discussion.

“- We are working to create as many jobs as possible with a view to reduce poverty. Moreover, there are 1 million 750 thousand people who should pay social insurance premium, however, by now, 950 thousand people are paying it. Therefore, we are working to increase the number” said the Finance Minister.

Issues regarding a new railway construction was also raised by MPs. According to State Secretary of Ministry of Road and Transport Development J.Bat-Erdene, plans of railways of Bichigt-Khoot, Nariin Sukhait-Shivee khuren, Zuunbayan-Khangi, Erdenet-Ovoot and Mandal-Bagakhangai are ready.
B.Ooluun

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Coal mine openings in the US inject some hope into beleaguered sector www.mining.com

A new US coal mine, scheduled to begin production next month, is lifting the spirits of an industry still hurting from the impact of low commodity prices and steep competition from other energy sources, which have triggered massive bankruptcies and closures in the past five years.

Corsa Coal’s (TSX-V: CSO) Acosta Deep mine in western Pennsylvania, expected create 70 to 100 direct full-time jobs and another 500 indirect positions, is for many the latest — though rare — recent signs of a slight reversal of fortune for the beleaguered US coal industry, WSJ.com reports.

Once a full tilt, the mine will produce 400,000 tonnes per year of low volatile metallurgical coal destined to meet demand from mainly US and Chinese steel companies.

“The opening of the Acosta Deep Mine marks a return to coal industry job creation in Somerset County, Pennsylvania,” Corsa Coal officials said in April. “Metallurgical prices have risen to record levels on the strength of strong steel demand and supply scarcity.”

The Canonsburg, Pennsylvania-based company will join Ramaco Resources Inc., which began producing at its first mine in West Virginia in December and plans to open two more this year in Central Appalachia.

President Donald Trump railed against the Obama administration policies on coal and greenhouse emissions as he campaigned in economically depressed areas of states like West Virginia, Pennsylvania and Ohio. He won all three states and swept eight of the top nine coal-producing states.

Trump has promised to bring jobs back to the coal sector and has already reverse a few of his predecessor’s restrictions on fossil fuels, breaking with leaders across the globe who have embraced cleaner energy sources.

But analysts and even Trump's advisor Gary Cohn believe such promise runs counter to market forces, including US utilities that have converted coal-fired power plants to cheaper, cleaner-burning natural gas.

Recently released federal data shows US coal miners have been cutting jobs for decades amid increasing automation, falling demand and steep competition from natural gas as well as renewables.

The Energy Department report released in January, revealed that coal mining now accounts for fewer than 75,000 US jobs. By contrast, renewable energy — including wind, solar and biofuels — accounts for more than 650,000 jobs.

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Three Mile Island to close 40 years after nuclear accident www.bbc.com

A Pennsylvania power plant which triggered the worst nuclear disaster in US history is to close, its owner says.
Three Mile Island - which experienced a partial reactor meltdown in 1979, spawning nationwide protests - will shut in 2019.
Exelon Corp, which owns the facility, said the low cost of natural gas extraction had made nuclear-generated electricity unprofitable.
Since 2013, six nuclear reactors in the US have shut for economic reasons.

Nuclear plants have closed before their licences expired in California, Florida, Nebraska, Vermont and Wisconsin, with more set to be decommissioned in the next several years.
The low cost of electricity is being attributed to natural gas extraction from shale formations such as in Pennsylvania's Marcellus region.

The Three Mile Island meltdown occurred on 28 March, 1979, alarming more than two million people who lived nearby and the city of New York 180 miles (300km) away.
A federal inquiry found no deaths or injuries were caused by the accident, though it dented public confidence in nuclear energy for years.
In 1994 a protester drove through the gates of Three Mile Island, causing the company to spend more than $1m (£777,000) on security upgrades.
Further upgrades were ordered after the 11 September 2001 terrorist attacks.
Three Mile Island employees 675 people, supplies power to 800,000 homes, and pays more than $1m in state income taxes, according to the company.

No one died, there were no direct health impacts, but the Three Mile Island nuclear accident burned so deeply into the US psyche that it has helped limit the future use of the power source across America.
While citizens were frightened by TMI, so too were investors. The accident happened after just three months of commercial operation causing the plant owner to go bankrupt. The whole clean up effort took 14 years and cost almost $1bn.
In the wake of TMI, demand for nukes fell through the floor. The Watts Bar plant in Tennessee, the first new nuclear installation in the US, became operational in 2016, two decades after the previous one.
Many US scientists, greatly concerned by the threat of climate change, have come out in support of nuclear. They argue that the need for large-scale low-carbon energy outweighs concerns over safety.

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Project to Climate Proof Forest Resources Kicks Off with Workshop www.adb.org

ULAANBAATAR, MONGOLIA (30 May 2016) — The Asian Development Bank (ADB) and the Government of Mongolia today kicked off a $500,000 capacity development technical assistance project to increase the resilience of Mongolian forest ecosystems to climate change with an inception workshop. In attendance were M. Tungalag, Director for Department of Forest Policy and Coordination, MET, and Satomi Yoshini of the Japan International Cooperation Agency.

The conservation of forest genetic resources project will support the government in implementing national laws on forest conservation and management. The project is funded by the Japan Fund for Poverty Reduction (JFPR) financed by the Government of Japan.

Increasing the forest cover to preserve the natural landscape and biodiversity is a key objective of the government. Sustainable forest regeneration depends on appropriate selection of and use of high-quality seeds for different vegetation regions. The project will identify official seed stock to supply high-quality forest seeds for more climate resilient forest regeneration. Capacity building in forest management by forestry personnel and local communities will be supported in three aimags: Khentii, Khuvsgul and Selenge.

“The project is aligned with ADB’s broader strategy to make economic growth more environmentally sustainable and preventing degradation of key natural resources, while supporting livelihoods of local communities.” said Mrs. Yolanda Fernandez Lommen, ADB Country Director in Mongolia.

Established in May 2000, JFPR provides direct grant assistance to the poorest and most vulnerable groups in developing member countries of ADB while fostering long-term social and economic development. Over the past 17 years. JFPR has supported over 48 projects in Mongolia dealing with poverty alleviation, livelihoods, and the environment.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB worked for more than 50 years in development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.

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Mongolian national named new World Bank Country Manager for Kyrgyzstan www.akipress.com

Bolormaa Amgaabazar has been named the new World Bank's Country Manager for the Kyrgyz Republic. This was announced by Lilia Burunciuc, World Bank Country Director for Central Asia, at the meeting with Kyrgyz Prime Minister Sooronbai Jeenbekov on May 29.

Ms Amgaabazar was presented to the PM. Jeenbekov has thanked the Jean-Michel Happi, who is completing his mission as the World Bank's Country Manager for the country, for contribution to strengthening cooperation between Kyrgyzstan and WB, and expressed hope for further fruitful cooperation with the new leadership of the office.

Bolormaa Amgaabazar, a Mongolian national, joined the World Bank in 2004 and has worked in the East Asia and Pacific and Africa regions. Amgaabazar was a task team member of the National Program for Community Empowerment (PNPM) in Indonesia and was responsible for the implementation of the program in eastern parts of the country with a special focus on Papua and West Papua provinces. When working in the Jakarta office, she held a position of a Trust Fund Coordinator. In 2008 she relocated to Washington DC while continuing to work on Indonesia as the Country Officer. In 2011 she moved to the Africa Region, as Senior Operations Officer for Sudan and South Sudan, based in Nairobi.

In 2014, she was appointed Country Representative for Timor-Leste. As the Country Representative, Amgaabazar’s responsibilities include overseeing the Bank’s program in Timor Leste; managing and supporting the Country Office Staff; and leading the Bank’s dialogue with the Government of Timor-Leste towards the twin goals of reducing poverty and increasing shared prosperity.

Amgaabazar holds a Masters in Business Administration from the Maastricht School of Management in the Netherlands.

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Russian Minister of Internal Affairs to visit Mongolia www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Internal Affairs of the Russian Federation, General of the Police V.A.Kolokoltsev is to pay an official visit to Mongolia at the invitation of Minister of Justice and Home Affairs of Mongolia S.Byambatsogt. 

On May 31, the two Ministers will sign a document reestablishing cooperation between the internal ministries of Mongolia and Russia. Also, Mr. Kolokoltsev will pay courtesy calls on Speaker of Parliament M.Enkhbold and Deputy Prime Minister U.Khurelsukh. 
On the sidelines of the visit, the Minister of Internal Affairs of Russia will visit law enforcement agencies of Mongolia.

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BA to operate all flights from Tuesday www.bbc.com

British Airways is now operating a full flight schedule after an IT failure saw the airline cancel thousands of flights over the bank holiday weekend.

"Our IT systems are now back up and running and we will be operating a full flight schedule at Heathrow and Gatwick," the airline said.
But it warned it "may take some time" to reunite travellers with their bags.
BA chief executive Alex Cruz earlier blamed a power surge for the disruption which affected 75,000 people.
Despite the knock-on effect of the incident lasting for three days, Mr Cruz said the hardware problem was restored "after a few hours", and promised the company would "make sure that it doesn't happen again".
In his first interview since the systems failure, he said: "There was a power surge and there was a back-up system, which did not work at that particular point in time."
He told the BBC this had affected "all the operating of our systems - baggage, operations, power processing".
The GMB union has blamed the problem on technical staff being outsourced from the UK to India.
But Mr Cruz said there had been no redundancies or outsourcing in this area, adding that there had been "locally hired" staff attending to the maintenance and running of the infrastructure.
The focus is now likely to shift towards the financial impact on the airline.
BA is liable to reimburse thousands of passengers for refreshments and hotel expenses, and travel industry commentators have suggested the cost to the company - part of Europe's largest airline group IAG - could run into tens of millions of pounds.
Shares in IAG, which is listed in both London and Madrid, fell 2.8% in Spain on Monday and are expected to fall again in London trading when it reopens after the bank holiday.
Davy analyst Stephen Furlong said the cost to the carrier of cancelling one day of operations was about £30m.
Questions remain about how a power problem could have had such impact.
The BBC's technology correspondent Rory Cellan-Jones said one theory was that returning systems were unusable as the data had become unsynchronised.

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China expands Belt and Road to the Arctic www.asia.nikkei.com

TOKYO -- China's Belt and Road Initiative partly echoes the famed Ming dynasty navigator Zheng He's seven voyages to the western seas.

Leading huge ships with a total crew of over 20,000, Zheng's ships visited ports across the Indian Ocean, the Middle East and Africa, "not as conquerors with warships, guns or swords" but as "friendly emissaries" sailing treasure-loaded ships, Chinese President Xi Jinping said in the keynote speech of the Belt and Road Forum for International Cooperation held in Beijing on May 14.

One theory has it that several parts of Zheng's fleet passed through the Arctic Ocean in their wooden vessels and discovered Greenland and Iceland -- see former British submarine commander Gavin Menzies' book, "1421: The Year China Discovered the World."

The authenticity of that theory aside, Xi's Belt and Road voyage seems to be taking a similarly ambitious turn north to those icy waters.

Chinese diplomacy with countries and regions bordering the Arctic has intensified greatly in the past two months. Xi visited Alaska and Finland, while a senior Communist Party delegation was just in Iceland and a Norwegian leader visited Beijing for the first time since relations soured in 2010 over the Nobel Peace Prize awarded to Chinese dissident Liu Xiaobo.

This choice of destinations is no coincidence. "Looking at the visit to Finland, Alaska and Iceland, you can see the connection with the Arctic Council's chairmanship calendar," said Damien Degeorges, a Reykjavik, Iceland-based consultant specializing in Arctic affairs.

The Arctic Council serves as the leading intergovernmental forum among countries in the region: Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the U.S. The council determines regulations on sustainable development and environmental protection.

"Earlier this month, Alaska hosted a ministerial meeting ending the U.S. chairmanship," Degeorges said. "Now Finland is holding the current chairmanship, and in two years it will be Iceland."

Xi visited Finland en route to his summit with U.S. President Donald Trump in April. After meeting with Finnish President Sauli Niinisto, Xi said Beijing and Helsinki would "seize the opportunity of Finland's rotating chairmanship of the Arctic Council to enhance cooperation in Arctic affairs."

Degeorges also sees the resumption of diplomacy with Norway in the same context. "It was essential for China to normalize relations with Norway, which is a major actor in the Arctic," he said.

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Mongolian tugrik rises against USD www.news.mn

The Mongolian national currency rate against the US dollar has been tightening over the last few days. According to the Bank of Mongolia,">Mongolia, one US dollar is bought by MNT2395, and sold by MNT2406.50.

The strengthening of the Tugrik is a direct consequence of International Monetary Fund (IMF) funding within the Extended Fund Facility (EFF). The IMF Executive Board approved a three-year extended arrangement under EFF for Mongolia on 24th May; the next day, the first tranche of USD 38.6 million was transferred to the central bank in order to increase foreign exchange reserves.

The foreign exchange reserves were planned to be raised to USD1.6 billion in 2017, 2.7 in 2018, USD3.5 billion in 2019 and USD4 billion in 2020.

 
 
 
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