1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      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     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     МАНАЙ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛ ДЭЭШИЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/16     “ЭРДЭНЭС-ТАВАНТОЛГОЙ” 40 САЯ ДАХЬ ТОНН НҮҮРСЭЭ ОЛБОРЛОЖЭЭ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/07/16    

Events

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

NEWS

64x64

Mongolia-Russia trade increased by 58.8 percent www.montsame.mn

Ulaanbaatar /MONTSAME/ In January 2017, Mongolia traded with 99 countries and total trade turnover reached USD 705.7 million, of which USD 428.5 million were made up by exports and USD 277.2 million by imports.

The total foreign trade turnover increased by USD 177.4 million (33.6%). Out of that, exports increased by USD 99.4 (30.2%) and imports increased by USD 78.0 million (39.2%) compared to the same period of previous year.

In the first month of 2017, foreign trade surplus reached USD 151.4 million dollars which increased by USD 21.4 million dollars from USD 130.0 million dollars in the same period of 2016.

Mongolia-China trade accounted for 68 percent of the total trade turnover, which increased by 36.1 percent compared to the last year. Meanwhile, 11.9 percent of the total trade turnover was made up by Mongolian and Russian trade, showing 58.8 percent increase.

...


64x64

JICA to finance construction of secondary school building www.montsame.mn

Ulaanbaatar /MONTSAME/ A project to construct secondary school building will be carried-out by non-refundable assistance from the JICA (Japan International Cooperation Agency).

On February 21, protocols in the scope of the project were signed by head of the second group of the project Chee Esaki, research team leader of the project Tomohiro Fukuo, specialist of education planning of JICA Tomohiro Osava and Director of the Department of Finance and Economy of the Ministry of Education, Culture and Science T.Batmagnai.

After signing the protocols, the sides reciprocally agreed on their rights and responsibilities within the construction project. Depending on the financing, about 3-4 secondary school buildings will be commissioned in the academic year of 2020-2021

...


64x64

Russian Oil Giant Rosneft Expands in Middle East www.themoscowtimes.com

Russia’s state-owned oil company Rosneft has begun to expand its operations in the Middle East with deals in Libya and Iraq, Bloomberg News reported Tuesday.

Rosneft, which is run by Putin ally Igor Sechin, struck a deal to purchase an undisclosed amount of crude oil from the Libyan National Oil Corp on Monday. The deal will also allow the Russian company to invest in exploration and production in the volatile North African country.

The chairman of National Oil Corp welcomed the deal, saying it would help to stabilize the warring country’s economy.

“We need the assistance and investment of major international oil companies to reach our production goals and stabilize our economy,” NOC Chairman Mustafa Sanalla said in a statement.

Rosneft announced on the same day it had struck a deal with authorities of the autonomous Kurdish region in northern Iraq to purchase oil until 2019. The deal with Kurdish authorities will also allow the Russian company to invest in exploration and production.

Chris Weafer, a Marco Advisory analyst, told Bloomberg that the deals combined “potentially good economics for Rosneft and good politics for the Kremlin.”

“Expect more deals from Rosneft in the Middle East and North Africa and across the developing world,” he said.

The Kurdish Minister of Natural Resources, Ashti Hawrami, said the agreement had ushered in a new era of cooperation between Russian and the Kurdish government.

“This deal represents a new beginning in our relationship with Rosneft and opens up the possibility of a broader relationship in all fields of energy cooperation,” Hawrami said.

Speaking on the condition of anonymity, one Kurdish official with knowledge of the deal told the Iraq Oil Report that the agreement was a reflection of growing confidence in northern Iraq’s oil market.

"It is the first time the KRG has supplied crude directly to a major global oil refiner and reflects the growing confidence of the international oil market in KRG crude," a Kurdish official said.

...


64x64

Australia destination of choice for world's millionaires www.rt.com

A new study from research firm New World Wealth shows for the second year Australia is the most attractive country for millionaires, beating out traditional destinations such as the US and the UK.

There were approximately 13.6 million millionaires in the world at the end of 2016, and their wealth stood at $69 trillion.

According to the report, global wealth migration is accelerating. Last year, around 82,000 millionaires migrated worldwide, which is up from 64,000 in 2015.

An estimated 11,000 millionaires made their way to Australia, making it the number one country for millionaire migrants. The US ranked second with 10,000 wealthy arriving, followed by Canada with 8,000.

The choice of Australia by the wealthy is mainly due to its location. It makes it an excellent base for doing business in emerging Asian countries such as Hong Kong, Korea, Singapore, and Vietnam.

Australia has one of the leading healthcare systems in the world which also makes it an attractive destination.

In 2015, the country announced a "fast-track visa" program for wealthy immigrants looking to invest in Australia, while Sydney City Council implemented strategy for tech sector growth.

When it comes to deciding whether to move and where to live, millionaires are looking mainly for a good education for their children and personal safety, said Andrew Amoils of New World Wealth.

"They want the best schools for their children and to feel safe. Climate, health care and cleanliness all follow those top two," he said.

The study showed that over the past ten years, total wealth in Australia has risen by 85 percent compared to 30 percent growth in the US and 28 percent growth in the UK.

“As a result, the average Australian is now significantly wealthier than the average US or UK citizen, which was not the case ten years ago.”

The most millionaires were moving from France, the research found. Around 12,000 millionaires left the country last year. China ranked second in millionaire flight, with 9,000 leaving, followed by Brazil with 8,000.

Millionaires are leaving France because of high taxes on the wealthy as well as rising religious tension, Amoils said. He added that in China, the fleeing rich were being replaced by an ever larger number of new millionaires.

Global wealth is expected to rise by 35 percent over the next decade, the report projected, adding the top performing wealth generating markets will be Vietnam, China, India, Mauritius and Sri Lanka.

...


64x64

Prime Minister to visit China next month www.montsame.mn

Ulaanbaatar /MONTSAME/ On Wednesday, February 22, Foreign Minister Ts.Munkh-Orgil briefed on his visit to the People's Republic of China which took place on February 20-21.

“My visit was designated to prepare for Mongolian Prime Minister J.Erdenebat’s visit to the People’s Republic of China in the first quarter of 2017, and the visit will take place next month. Moreover, Prime Minister J.Erdenebat will participate in the One Belt, One Road international summit by the invitation of President Xi Zinping”, he said.

“I held talks with Minister of Foreign Affairs Wang Yi, Vice President Li Yuanchao and other officials. Sides have noted with satisfaction that there’s no political and social conflict between the two countries”, reiterated Foreign Minister Ts.Munkh-Orgil.

According to the Minister, 7 Chinese ports are now accessible to Mongolia in frames of the ‘Agreement on Mongolia’s access to sea and ship transport through China’ which has been adopted by the Chinese Government. “There are about 10 intergovernmental agreements to be signed which will be settled during the Prime Minister’s upcoming visit. Also, a working group led by Deputy Prime Minister will visit the country”, he added.

The Foreign Minister said that both the Russian Federation and the People’s Republic of China have expressed their support to Mongolia’s through IMF, Asian Development Bank and World Bank. When asked about the total amount of monetary support from the southern neighbor, he answered, “The Chinese side has agreed to provide a USD 1 billion soft loan and CNY 1 billion nonrefundable aid”.

...


64x64

Feasibility of Eg and Shuren hydro power plants to be studied wwwe.montsame.mn

Ulaanbaatar /MONTSAME/ On February 22, Wednesday, Foreign Minister Ts.Munkh-Orgil held a press briefing to report on his visits to the Russian Federation and the People’s Republic of China. On February 13-14, the Foreign Minister paid a visit to the Russian Federation at the invitation of his counterpart Sergey Lavrov.

“In brief, Prime Minister to visit China next month, and most importantly, we now have to ensure full execution of our previous agreements. The main purpose of my visit to the Russian Federation was to prepare for Mongolian Prime Minister J.Erdenebat’s visit to the country, and we’ve agreed that the visit will take place within the first half of 2017”, the Minister informed reporters.

“There are several agreements of significance to Mongolia including the negotiations on rail transit transportation which will be finalized during the Prime Ministerial visit. We’ve agreed on the concepts to establish a general agreement on Mongolia-Russia energy cooperation, and settle certain matters regarding regional and border area cooperation”.

“We also talked about the soft loan of USD 1.5 billion from the Russian Federation which Mongolia is keen to spend on rail and energy projects. Moreover, we discussed in detail the issue of hydro power plants in Eg River and Shuren, and resolved to conduct a study whether if the establishment of these power plants will damage or affect the eco system of Baikal Lake”, Minister Ts.Munkh-Orgil said about his Russia visit.

...


64x64

Non-performing loans increased www.montsame.mn

Ulaanbaatar /MONTSAME/ At the end of January 2017, the non-performing loans at the level of the bank system reached MNT 1056.2 billion, up by MNT 4.5 billion (0.4 %) from the previous month and by MNT162.2 billion (18.1%) compared to the same period in 2016.

Money supply (broad money or M2) reached MNT 11.9 trillion at the end of January in 2017, which decreased by MNT 203.0 billion (1.7%) from the previous month and increased by MNT2024.0 billion (20.5 %) compared with the same period in 2016, according to a report of the Bank of Mongolia.

At the end of January 2017, currency issued in circulation reached MNT 736.1 billion, down by MNT 87.6 billion (10.6%) from the previous month and up by MNT 22.3 billion (3.1 %) compared to the same period in 2016.

Loans outstanding amounted to MNT12.4 trillion at the end of January 2017, down by MNT 42.7 billion (0.3%) from the previous month and up by MNT 590.2 billion (5.0%) compared to the same period in 2016.

Principals in arrears reached MNT 945.7 billion at the end of January 2017, up by MNT41.4 billion (4.6 %) from the previous month and MNT 6.9 billion (0.7 %) compared to the same period in 2016.

In January 2017, 26.0 million pieces securities were traded valued at MNT 37.7 billion in the stock market, down by MNT 112.4 billion (74.9%) from the previous month and up by 5.6 billion (17.6%) compared with same period of the previous year. The traded shares were down by 12.3 million pieces (32.2%) from the previous month and 8. million pieces (25.0%) compared with same period of the previous year.

Source: National Statistics Office

...


64x64

Monthly statistical report on transport: January 2017 www.montsame.mn

Ulaanbaatar /MONTSAME/ In January 2017, 1622.1 thousand tons of freight and 207.8 thousand persons (double counting) were carried by railway transport.

Compared to the same period of the previous year, the number of carried freight has decreased by 34.7 thousand tons (2.1%) and the number of carried passengers has decreased by 17.7 thousand persons (7.9%). The revenue from railway transport reached 32.5 billion which has decreased by MNT 1.2 billion (3.5%) compared to the same period of the previous year.

In January 2017, 210.3 tons of freight and 53.1 thousand persons (double counting) were carried by air transport. The volume of carried freight decreased by 13.5 tons (6.0%) and the number of carried passengers increased by 6.6 thousand (14.1%) compared to the same period of the previous year.

The revenue from air transport reached 20.2 billion which has increased by MNT 1.3 billion (7.1%) compared to the same period of the previous year.

Source: National Statistics Office

...


64x64

Three Reasons Why Investors Are Still Betting on Mongolia www.fronteranews.com

The light at the end of the tunnel
Not all is well with Mongolia (AZIA). Growth in the economy has tumbled with commodity prices, which account for over 90% of its export earnings. The economy’s GDP grew at just 1% in 2016 due to, a) commodity price decline, and b) slowdown in China demand for copper (JJC) (CPER) and coal (KOL). Meanwhile, the nation’s debt has been burgeoning, reaching $23 billion as of 4Q16.

At a time when Mongolia’s banks threaten an economic crash, the Hong Kong-based Asia Frontier Capital is invested in the region. Thomas Hugger, chief executive officer, and founder of Asia Frontier Capital, a firm dedicated to investing in the Asian frontier markets (FRN) (FM), has maintained portfolio exposure to Mongolia for many years. “We see the light at the end of the tunnel,” Hugger recently told Frontera.

Hugger spoke about three key reasons for his belief in this frontier market’s long-term prospects.

1. Copper price recovery
Following a five-year slide (2011-2016), copper prices finally began to recover in early 2016. Over the past one year, the shiny metal’s price has surged 28.7%, with mining giants such as Anglo American (NGLOY), BHP Billiton (BHP), Glencore (GLNCY), and Rio Tinto (RIO), expecting it to rise further as excess supply seems to have come off the market. Moreover, the government initiated stimulus programs in China; which consumes 40% of world copper; have also contributed to the metal’s resurgence. Copper ore accounts for 42% of Mongolian exports.

Mongolia is ranked 12th in the world for copper reserves. The south Gobi Desert alone has an estimated of 35 million tons of copper. UK-based Central Asia Metals (CAML.L) and Rio Tinto (RIO), Canada-based Entrée Gold Inc. (EGI), Turquoise Hill Resources Ltd. (TRQ), and Kincora Copper Ltd (KCC) are among the foreign mining companies engaged in copper mining in Mongolia.

2. Coal price recovery
Coal, Mongolia’s number 2 export (14% of exports), has followed a similar trajectory; a five-year slide followed by a quick recovery through 2016 and continuing. Australian thermal coal has recorded a whopping 68.8% price gain over the past 1 year alone. Foreign companies engaged in coal mining in Mongolia include Australia-based Aspire Mining Limited (ASPXF) and Hong Kong-based Mongolia Energy Corporation Limited (MOAEF).

3. Foreign exchange influx
Hugger also expects the spat over Rio Tinto’s (RIO) $5.3 billion Oyu Tolgoi copper and gold mine in Mongolia to resolve soon. Rio Tinto would then be investing a lot into the second phase of the Oyu Tolgoi mine, thereby opening up a huge additional source of foreign exchange for the nation.

$440 million support extended by the IMF
The economy has recently been able to secure a $440 million loan package from the International Monetary Fund (IMF) to ease the country’s balance-of-payment pressures and support it’s government’s looming debt repayments. “The Asian Development Bank, the World Bank and bilateral partners including Japan and Korea are expected to provide up to another $3 billion in budget and project support, while the People’s Bank of China is expected to extend its 15 yuan billion ($2.2 billion) swap line with the Bank of Mongolia for at least another three years,” the IMF said in a statement on Sunday. The package is thus, a part of the $5.5 billion bailout envisaged for this frontier market.

According to Citigroup, we may see Mongolia tapping the international markets pursuant to the IMF package

...


64x64

Burger King and Tim Hortons owner to buy Popeyes for $1.8 billion www.reuters.com

 
Restaurant Brands International Inc (QSR.TO), owner of the Burger King and Tim Hortons fast-food chains, said on Tuesday it would acquire Popeyes Louisiana Kitchen (PLKI.O) for $1.8 billion in cash.
 
The deal is a bet by Oakville, Ontario-based Restaurant Brands that it can use its international reach to introduce Popeyes' Louisiana-style fried chicken and buttermilk biscuits to more diners globally.
 
Popeyes shareholders will get $79.00 for each share they hold, a 19.5 percent premium to the stock's Friday close.
 
Popeyes, whose fans include pop singer Beyoncé, began 45 years ago as a Southern-fried "Chicken on the Run" restaurant in a New Orleans suburb. It has since expanded to more than 2,000 restaurants, of which 1,600 are in the United States.
 
Restaurant Brands was formed in 2014, when 3G Capital-backed Burger King acquired Canadian coffee and doughnut chain Tim Hortons Inc for $11 billion.
 
Reuters reported on Monday that Restaurant Brands was nearing a deal to buy Popeyes, citing people familiar with the matter.
 
Restaurant Brands said on Tuesday it would finance the deal with cash on hand and a financing commitment from J.P. Morgan and Wells Fargo.
 
The company was advised by Paul, Weiss, Rifkind, Wharton and Garrison LLP. Popeyes received financial advice from UBS and Genesis Capital LLC and legal counsel from King & Spalding LLP.
...