1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     ОЛОН УЛСЫН ИННОВАЦИЙН ИНДЕКСЭЭР МОНГОЛ УЛС 53-Т ЖАГСЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/17     ШАДАР САЙД НҮБ-ЫН ӨНДӨР ТҮВШНИЙ УУЛЗАЛТАД ОРОЛЦОЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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BBC Cardiff Singer of the World: Two Mongolians reach finals www.bbc.com

BBC Cardiff Singer of the World has announced the names of the 20 singers who will compete in the televised finals in June 2017. Among them are two Mongolians, namely, the baritone G.Ariunbaatar, who is a Soloist of the Mariinsky Theatre of Russia and Honoured State Artist of Mongolia along with tenor B.Batjargal who is a soloist of the Academic Theatre of Opera and Ballet of Mongolia.

The televised finals are split into four rounds, in which finalists will perform programmes of operatic and concert works, accompanied by the BBC National Orchestra of Wales and the Orchestra of Welsh National Opera.

BBC Cardiff Singer of the World was established in 1983 by BBC Wales, and has since become one of the most popular classical music competitions in the world. The winner of the main prize will receive £15,000 and the Cardiff Trophy, while the World Song Prize, awarded to the best singer of Lieder and other songs, carries a £7,000 prize and trophy.

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UN Security Council Sanctions lists available through FRC website www.montsame.mn

Ulaanbaatar /MONTSAME/ The Financial Regulatory Commission of Mongolia has put on its official website a link to the Consolidated Sanctions List, which includes all individuals and entities subject to sanctions measures imposed by the UN Security Council. Member States are obliged to inform the list and implement the measures specific to each listed name as specified on websites of the related sanctions committee of the Security Council.

Interested bodies can visit “Fighting against money laundering and terrorism’ section of www.frc.mn website to get the list. The commission also warns commercial banks, non-banking financial institutions, insurers, professional institutions, who participate in stock markets, insurance and investment actions, to inform suspicious transactions within 24 hours to the Financial Information Unit of the Bank of Mongolia.

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American Express escalates high-fee card competition www.reuters.com

 
American Express Co (AXP.N) will begin to offer this month $200 a year in Uber rides, plus other new perks, on its Platinum charge cards as it fights to protect its high-end market from JPMorgan Chase & Co (JPM.N) and Citigroup Inc. (C.N)
 
The new Platinum benefits will include richer credits for spending, access to more airport lounges, special dining and entertainment options and free use by family members of an American Express Gold card, according to Janey Whiteside, general manager of Global Charge Products, Benefits & Services for American Express.
 
The changes, which will start on March 30, will also raise the annual account fee for card holders to $550 from $450.
 
Both JPMorgan and Citigroup, which has a $450-per-year Prestige card with its own mix of spending credits and perks, are using cards to try to eat away at American Express profit margins, which have long been higher than their own. The banks have also acted because banking regulations imposed after the financial crisis generally favor investing in card businesses over capital markets.
 
In August, JPMorgan stirred up the high-end card market when it introduced its $450-per-year Chase Sapphire Reserve card with an initial sign-up bonus worth as much as $1,500, plus $300 in annual travel credits and high credits for spending. The bank started making the cards out of metal to give them a luxurious feel.
 
American Express will now start using metal for its Platinum cards. Since 1999 it has been using metal for its Centurion card which carries an annual fee of $2,500 on top of an initiation fee of $7,500.
 
The new Platinum benefits include up to $200 of payments for Uber rides within the United States. The card already offers $200 in annual credits for airline fees.
 
The increased competition has been a boon to websites such as NerdWallet.com and ThePointsGuy.com, which compare card costs and benefits from a consumer viewpoint.
 
American Express began working on the changes in the Platinum card before JPMorgan brought out its Sapphire Reserve card, Whiteside said in an interview on Wednesday.
 
"This is a response to listening to our customers," she said. "We are always looking at ways to bring value to our card members."
 
American Express kicked off the premium card market in 1966 when it introduced its Gold card, Whiteside said. It brought out the Platinum card in 1984.
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Exclusive: Trump administration has found only $20 million in existing funds for wall - document www.reuters.com

 
President Donald Trump’s promise to use existing funds to begin immediate construction of a wall on the U.S.-Mexico border has hit a financial roadblock, according to a document seen by Reuters.
 
The rapid start of construction, promised throughout Trump's campaign and in an executive order issued in January on border security, was to be financed, according to the White House, with "existing funds and resources" of the Department of Homeland Security.
 
But so far, the DHS has identified only $20 million that can be re-directed to the multi-billion-dollar project, according to a document prepared by the agency and distributed to congressional budget staff last week.
 
The document said the funds would be enough to cover a handful of contracts for wall prototypes, but not enough to begin construction of an actual barrier. This means that for the wall to move forward, the White House will need to convince Congress to appropriate funds.
 
An internal report, previously reported by Reuters, estimated that fully walling off or fencing the entire southern border would cost $21.6 billion - $9.3 million per mile of fence and $17.8 million per mile of wall.
 
Trump has said he will ask Congress to pay for what existing funds cannot cover and that Mexico will be pressured to pay back U.S. taxpayers at a later date.
 
Republican House Speaker Paul Ryan has said he will include funding for a border wall in the budget for next fiscal year. He has estimated the cost to be between $12 billion and $15 billion.
 
Many Republican lawmakers have said they would vote against a plan that does not offset the cost of the wall with spending cuts.
 
In the document it submitted to Congress, the DHS said it would reallocate $5 million from a fence project in Naco, Arizona, that came in under budget and $15 million from a project to install cameras on top of trucks at the border.
 
The surveillance project was awarded to Virginia-based Tactical Micro, but was held up due to protests from other contractors, according to the DHS document. Tactical Micro could not be reached for comment.
 
The DHS only searched for extra funds within its $376 million budget for border security fencing, infrastructure and technology, so it would not have to ask for congressional approval to repurpose funding, according to the document.
 
Contractors cannot begin bidding to develop prototypes until March 6 but more than 265 businesses already have listed themselves as "interested parties" on a government web site.
 
Those interested range from small businesses to large government contractors such as Raytheon (RTN.N).
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All change: how the Royal Mint is making the new 12-sided £1 coins www.theguardian.com

 
It’s known as the Long Store and at first sight this draughty building – with endless rows of plain cardboard boxes stacked neatly on shelving from floor to ceiling – could be any distribution warehouse in the UK.
 
Only discreet red stickers reveal the valuable contents of the boxes, which every day will be driven by fleets of armoured high-security vehicles from the barbed wire-ringed site. Each is loaded with 85,000 gleaming new 12-sided pound coins which go into circulation in the UK on 28 March and are systematically being transferred to a network of top secret “cash centres” across to the UK to await final delivery to banks and other issuers.
 
Here at the Royal Mint, near Llantrisant to the west of Cardiff, production has been ramped up to full capacity. Ten German-made vertical presses are working 24/7 to churn out the new coins which will replace the old, familiar round pounds.
 
At high pressure, they are striking the two surfaces of the metal “blanks”, producing 40 new coins every second – and 140,000 an hour. Quality control by humans and laser sensors aims to weed out any flaws, and the vast majority that make the grade are counted by machine and emptied into the polythene-lined boxes. Security is strict and metal detectors and scanners are in use for both staff and visitors.
 
Production of the 12-sided coins – a whopping 1.5bn of them – started in March last year and the Royal Mint is now halfway through the process, according to Scott Kuperns, its technical manager and counterfeit specialist.
 
The switch to the new coin has been prompted because the old round one has grown increasingly vulnerable to counterfeiters. The Royal Mint reckons one in 30 £1 coins is fake.
 
“Counterfeiters are becoming increasingly sophisticated” he says, against the noisy backdrop of one of the Mint’s coin press rooms – one room makes coins for circulation while the other turns out commemorative coins and medals.
 
“It can just be a man working in a shed or it can be more organised crime. Teams of experts who have analysed minting technology and material development. But after a lot of research and trials we have come up with what we believe is the most secure coin in the world.”
 
The cutting-edge coin, therefore, has a deliberately complex shape which makes it harder to manufacture and counterfeit. It has an image like a hologram that changes from a “£” symbol to the number “1” when viewed from different angles, while there is very small lettering on the lower inside rim on both sides, and what is mysteriously described as a patented “hidden high security feature”. In a further ruse to try to beat the counterfeiters, it has “milled” edges, with grooves on alternate sides.
 
Its bimetallic construction is similar to the existing £2 coin. The outer ring is gold-coloured nickel-brass and the inner ring is silver-coloured nickel-plated alloy. The reverse of the new coin shows the English rose, Welsh leek, Scottish thistle and Northern Irish shamrock emerging from one stem within a royal coronet – a design created by 15-year-old schoolboy David Pearce, who won a competition to create the image.
 
Behind the scenes, work is also under way for other new coins – a new Sir Isaac Newton 50p, a first world war aviation £2 and a Jane Austen £2, all entering circulation this year. The Royal Mint is also a major export manufacturer, making coins for around 60 other countries including Sri Lanka, Poland and the Czech Republic.
 
Despite the rise of card and contactless payments, coins remain popular and mintage figures are stable. There are currently nearly 29bn coins (of all denominations) in circulation in the UK, with a face value of more than £4bn.
 
Metal for all the coins is smelted on the site, and those going out of circulation are melted down and reused, a fate lined up for the old £1 coins which will cease to be legal tender on 15 October.
 
The Treasury has been urging savers to crack open their piggy banks, check behind the sofa and rifle through pockets for rogue £1 coins, before they become worthless.
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South India boycotts Pepsi & Coca-Cola to help local farmers www.rt.com

 
Sales of Coca-Cola and Pepsi have been banned in the southern Indian state of Tamil Nadu. Two of the biggest trade associations in the region called for the boycott in favor of Indian products starting March 1.
 
The American soft drinks giants have been accused of taking too much water from rivers with local farmers left battling for proper irrigation of the land at the time of a severe drought.
 
The associations also called on supermarkets, restaurants, and hotels, urging them to join the boycott and help local businesses and farmers prosper.
 
The boycott followed a wave of protests against the Supreme Court’s ban of a local bull-taming festival called jallikattu last month.
 
"Most traders stopped selling Pepsi and Coca-Cola products soon after the jallikattu protests. Now, more will join in," said Tha Vellaiyan, head of the Tamil Nadu Traders Federation.
 
He added that the campaign against soft drinks had gained momentum after extending support to the pro-jallikattu movement.
 
"Drinks like Pepsi and Coca-Cola are not good for your health because of their high sugar and chemical content. We are promoting Indian soft drinks, and will encourage better sales of fruit juices," Vellaiyan said.
 
At the same time, the organizers clarified that it’s not a ban, saying that they just asked the traders not to sell the goods produced by the corporations.
 
The Indian Beverage Association (IBA) said it was disappointed with the ban, saying it "was against the proven fundamentals of robust economic growth."
 
"Coca-Cola and PepsiCo India together provide direct employment to 2,000 families in Tamil Nadu and more than 5,000 families indirectly. IBA hopes that good sense will prevail and that consumers will continue to have the right to exercise their choice in Tamil Nadu," it said as quoted by BBC.
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Foreign Minister addresses UN Human Rights Council session www.montsame.mn

Ministry of Foreign Affairs of Mongolia Ts.Munkh-Orgil delivered remarks at the high-level segment of the 5th meeting of the 34th session of the Human Rights Council. The session is taking place in Geneva, Switzerland from February 27 to March 24.

In his remarks, the Foreign Minister gave a thorough introduction of the policy, actions and measures carried-out by the Government of Mongolia towards the protection and promotion of human rights on a national level and in international fora. Watch full remarks by Minister Ts.Munkh-Orgil here.

During his participation in the Human Rights Council, Minister Ts.Munkh-Orgil met with international high level representatives, such as Director-General of the United Nations Office at Geneva Michael Møller, High Commissioner of the Office of the United Nations High Commissioner for Human Rights Zeid bin Ra'ad, Deputy Secretary-General of United Nations Conference on Trade and Development (UNCTAD) Joachim Reiter, Foreign Minister of Kazakhstan Kairat Abdrakhmanov, Foreign Minister of Albania Ditmir Bushati and Minister for International Development and the Pacific of Australia Concetta Fierravanti-Wells to discuss bilateral ties and international issues of mutual concern.

Also, Ministry of Foreign Affairs Ts.Munkh-Orgil and Minister of Foreign Affairs of Albania Ditmir Bushati signed an agreement for between the Government of Mongolia and the Council of Ministers of Albania on mutual visa exemption for diplomatic and official passport holders.

Established in 2006, the Human Rights Council, is an intergovernmental body within the United Nations system made up of 47 States responsible for the promotion and protection of all human rights around the globe. In October 2015, Mongolia was elected as a Human Rights Council member and will be serving as a member until 2018 to contribute in the activities of the international community on human rights protection and promotion and to be involved in the decision-making process of the council.

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Parliament expected to convene next week www.montsame.mn

Ulaanbaatar /MONTSAME/ Last week, a few days before the Lunar New Year holiday, an irregular session of the Cabinet was held to discuss amendments to the 2017 State Budget. In accordance with the agreement between the Government of Mongolia and the International Monetary Fund on implementing Extended Fund Facility, the state budget of this year was in need to be changed.

It is expected that the Cabinet would submit the amendments to the Parliament soon after working days start tomorrow on March 2, following the public holidays of the Lunar New year - Tsagaan Sar. Then, the latter would call irregular session to discuss the budget adjustments.

Although the exact date of the irregular session has yet to be announced, Mongolian lawmakers will most likely convene within the next week. Some sources, including eagle.mn Mongolian news website, say the irregular session will be opened on March 6, Monday.

The spring session of the parliament normally commences in April every year.

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SpaceX unveils plans to send two tourists around moon in 2018 www.france24.com

SpaceX said Monday two private citizens have paid money to be sent around the Moon in what would mark the farthest humans have ever traveled to deep space.

The United States has not sent astronauts to the Moon since NASA's Apollo missions of the 1960s and '70s.

"We are excited to announce that SpaceX has been approached to fly two private citizens on a trip around the moon late next year," said a statement by CEO Elon Musk.

"This presents an opportunity for humans to return to deep space for the first time in 45 years and they will travel faster and further into the solar system than any before them."

The tourists, who were not named, "have already paid a significant deposit," Musk's statement added.

Health tests and training are to begin this year.

"Other flight teams have also expressed strong interest and we expect more to follow. Additional information will be released about the flight teams, contingent upon their approval and confirmation of the health and fitness test results," Musk said.

The tourists will ride aboard the California-based company's Crew Dragon capsule, which is scheduled for its first unmanned test flight later this year.

It is based on the design currently used to send cargo to the International Space Station, with upgrades to allow for human transport.

The capsule will launch atop SpaceX's Falcon Heavy rocket, which is scheduled for its first test flight this summer.

The rocket "will be the most powerful vehicle to reach orbit after the Saturn V moon rocket," Musk said.

"At five million pounds of liftoff thrust, Falcon Heavy is two-thirds the thrust of Saturn V and more than double the thrust of the next largest launch vehicle currently flying."

Musk -- who co-founded PayPal and also heads Tesla Motors -- is seen as the emerging leader of the modern commercial space industry, after becoming the first to send a private cargo carrier to the International Space Station in 2010.

The 45-year-old native of South Africa is a long-time space enthusiast, who is also outspoken about his vision to colonize Mars.

Last September he unveiled ambitious plans to establish a colony on the Red Planet by sending 100 humans at a time -- starting in 2024.

SpaceX also plans to send an unmanned Dragon cargo capsule as early as 2018.

In the same month Blue Origin, founded by Amazon chief Jeff Bezos, unveiled plans to build a massive rocket called New Glenn to launch people to space, but the company's president said going to Mars could take decades.

And on the space tourism front, Virgin Galactic, led by British billionaire entrepreneur Richard Branson, has set a goal of taking people to the edge of space, more than 62 miles (100 kilometers) above Earth.

Despite the hefty $250,000 price tag, more than 600 would-be astronauts have already signed up, including actors Leonardo DiCaprio and Ashton Kutcher.

Meanwhile, if all goes as planned, lift-off for Musk's two moon tourists will occur next year from the same launch pad near Cape Canaveral that the Apollo program used for its lunar missions.

Musk posted the company's announcement on Twitter by stating: "Fly me to the moon ... Ok."

(AFP)

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Alibaba buys 25 percent stake in Haier multimedia company www.chinadaily.com

Qingdao Haier Co Ltd-the listed arm of Haier Group, China's biggest home appliance supplier-said it will join hands with e-commerce giant Alibaba Group Holdings Ltd to own stakes in Haier's multimedia company.

Haier said its multimedia company, which is positioned as an operating platform of Haier's TV business, planned a share transfer and capital boost.

Under the terms of the deal Qingdao Haier will own 20.2 percent in the multimedia firm, paying 525 million yuan ($76.4 million), while Alibaba will own 25.25 percent after the transaction, paying 657 million yuan ($95.6 million).

A statement released late Monday by Qingdao Haier said the move would help build up Haier's smart home product offering and secure more television users.

The announcement said Haier and Alibaba would combine the strengths of both companies to launch innovative products and cater to market demands.

Alibaba said with the further integration of the real economy and new technology, the two sides would strengthen their cooperation to promote intelligent home appliance products and services.

Last year revenues of Haier's multimedia firm totaled 6.7 billion yuan ($975 million), with net profit of 113 million yuan.

"Haier hopes to beef up the content development of its TV business through cooperation with internet giant Alibaba and as a traditional company to explore a new development mode," said Zhang Yanbin, assistant director of All View Cloud, a Beijing-based consultancy specializing in home appliances.

"Haier attaches great importance to its TV business. The operation will make the two sides make full use of their resources and complement each other with advantages."

Zhang said internet TV brands such as LeEco and. Xiaomi Corp had strengths in TV content and value-added services, which traditional home appliance manufacturers could learn from.

Founded in 1984, Haier has been the household electrical appliances brand with the highest sales volumes in the global market for several consecutive years, according to consultancy Euromonitor International.

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