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

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Wool products handmade by herder women popular in France www.montsame.mn

Ulaanbaatar /MONTSAME/ Herder women of the “Friendly women” NGO in Zavkhan aimag started selling more than 30 types of handmade wool products in France in October 2016.

The women wash and comb camel and sheep wool to make a variety of clothing and accessories, such as gloves, shirt, bag and slippers. Their products are quite popular on the French market and in the last two years since the NGO was established in 2015, they have exported products worth MNT 6 million in total to France with the support from the "Takhi" project.

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Ulaanbaatar to host JCI Asia Pacific Conference www.gogo.mn

Ulaanbaatar, the capital city of Mongolia to host the JCI Regional Congress for Asia and Pacific 2017 on June 8-11. 
Every year, JCI Area B or Asia Pacific Region Members unite in their regions for JCI Asia Pacific Conference (ASPAC) to exchange ideas, learn how to maximize their local impact and collaborate with other National Organizations in Asia Pacific Area.
The ASPAC give members a chance to take advantage of JCI’s international network while enhancing their National Organizations. At this conference, JCI gives its members the opportunity to address Asia pacific region and international issues and show their commitment to becoming socially responsible leaders.
These regional forum enables members to focus on solutions for their region and how they can grow, improve, share and create positive change across communities.

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North Korean players at Mongolian National League www.news.mn

The Mongolian National League basketball competition among teams from the 21 provinces has been taking place in Ulaanbaatar since October. The four provincial teams namely, Arkhangai, Khuvsgul, Sukhbaatar and Orkhon are now competing for medals.

This year, four players with their coaches from the North Korean National Basketball Team are participating in the Mongolian National League matches.

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"The 6th Mongolia London Business Festival & Business program" UK (Registration will close soon) www.mongolianbusinessdatabase.com

Mongolian Business Database (MBD) is registering the Mongolian business participants to Mongolian-British Chamber of Commerce and Industry's "The 6th Mongolia London Business Forum" in April 05.2017 and business program which includes the opening of London Stock Exchange by Mr.Ts. Munkh Orgil, Foreign Minister of Mongolia, Sixth Mongolia London Business Forum at Bloomberg and the annual UK Parliamentary Tea with the All Party Mongolian Parliamentary Group 
The MBCC (www.mongolianbritishcc.org.uk) is a not-for-profit membership organisation established in 2009 to foster strong business links between Mongolia and the UK. Chaired by Mr John Grogan former British Parliament member, it aims to provide a professional and social environment for business people who wish to be introduced to, and become part of, the British-Mongolian business culture and community.
Please visit to following link for information in details and contact at contact@mongolianbusinessdatabase.com e mail, 77109911, 99066062 for the registration and inquiry.

The registration will close in March 03 Friday. 2017

http://www.mongolianbusinessdatabase.com/base/eventsdetails?id=19 

 

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Facebook CEO warns against reversal of global thinking www.reuters.com

 
Facebook Inc Chief Executive Mark Zuckerberg laid out a vision on Thursday of his company serving as a bulwark against rising isolationism, writing in a letter to users that the company's platform could be the "social infrastructure" for the globe.
 
In a 5,700-word manifesto, Zuckerberg, founder of the world's largest social network, quoted Abraham Lincoln, the U.S. president during the country's 19th century Civil War known for his eloquence, and offered a philosophical sweep that was unusual for a business magnate.
 
Zuckerberg's comments come at a time when many people and nations around the world are taking an increasingly inward view. U.S. President Donald Trump pledged to put "America first" in his inaugural address in January. That followed Britain's decision last June to exit the European Union.
 
"Across the world there are people left behind by globalization, and movements for withdrawing from global connection," Zuckerberg wrote, without naming specific movements.
 
The question, the 32-year-old executive said, was whether "the path ahead is to connect more or reverse course," adding that he stands for bringing people together.
 
Quoting from a letter Lincoln wrote to Congress in the depths of the Civil War, he wrote to Facebook's 1.9 billion users: "The dogmas of the quiet past, are inadequate to the stormy present."
 
Zuckerberg said that Facebook could move far beyond its roots as a network for friends and families to communicate, suggesting that it can play a role in five areas, all of which he referred to as "communities," ranging from strengthening traditional institutions, to providing help during and after crises, to boosting civic engagement.
 
In comments on Facebook, some users praised Zuckerberg's note for staying positive, while others declared "globalism" dead.
 
Facebook has been under pressure to more closely police hoaxes, fake news and other controversial content, although the concerns have had little impact on its finances. The company reported 2016 revenue of $27.6 billion, up 54 percent from a year earlier.
 
One area where Zuckerberg wrote that Facebook would do better would be suggesting "meaningful communities." Some 100 million users are members of groups that are "very meaningful" to them, he wrote, representing only about 5 percent of users.
 
Facebook is also using artificial intelligence more to flag photos and videos that need human review, Zuckerberg wrote. One-third of all reports to Facebook's review team are generated by artificial intelligence, he wrote.
 
Zuckerberg's letter was "a bit more ambitious and a bit more of the 30,000-foot view than I see from most tech company CEOs," Peter Micek, global policy and legal counsel at Access Now, an international digital rights group, said in a phone interview.
 
But Zuckerberg stayed away from certain subjects on which Facebook could be vulnerable to criticism, mentioning the word "privacy" only once, Micek said.
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Canada losing ground as mining investment destination www.mining.com

While optimism is slowly but steadily returning to the global mining industry, Canada doesn’t seem to be in a good position to benefit from the increasing number of companies ready to make new and significant investments.

At least that is the conclusion from a report released Thursday by the Mining Association of Canada (MAC), which also warns of the possibility of seeing major exploration and mining investments flow offshore.

“Very simply, Canada is not as attractive as it used to be for mineral investment, and competition for those dollars is growing globally,” MAC President and CEO Pierre Gratton said.

Elimination of federal mining tax incentives, regulatory delays, uncertainty and major infrastructure deficits in northern Canada are all contributing to the country’s declining appeal.
The recent elimination of federal mining tax incentives, regulatory delays and uncertainty, combined with major infrastructure deficits in northern Canada are all contributing factors that can explain Canada's declining attractiveness, Gratton noted.

The report also highlights the policy areas that Canada needs to pay attention to in order to seize future growth opportunities and re-gain its leadership in mining.

Some of the figures included in the report are quite telling. In 2015, foreign direct investment into Canada’s mining industry dropped by more than 50% from the previous year. In contrast, the country’s resources sector direct investment abroad only experienced a 6% decline.

According the industry body, such imbalance proves that Canada no longer attracts the single-largest share of total global mineral exploration spending, a top place it lost to Australia in 2015. Further, MAC says, no new mining projects entered the federal environmental assessment stage in 2016.

If these trends continue, the association warns, there will be fewer discoveries made and fewer projects to become operational mines in Canada.

Despite the challenges, the sector remains a key contributor to the Canadian economy, employing more than 370,000 people across the country and being the largest private sector employer of Aboriginal people on a proportional basis.

In 2015, the mining industry accounted for $56 billion of Canada’s GDP and minerals and metals accounted for 19% of Canadian goods exports.

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Hanjin: Final curtain falls on shipping saga www.bbc.com

Hanjin Shipping used to be one of the world's top 10 shipping companies. But now it faces the final curtain.
Friday is the deadline for the firm to be declared bankrupt by a South Korean court after months of uncertainty.
Hanjin's collapse is the largest to hit the shipping sector and it sent shockwaves through the industry.
What went wrong?
For years, the global economic downturn had affected profits across the cargo shipping industry. It led to overcapacity, lower freight rates and rising debt levels.
The question was not whether a big shipping line would go under, but which one would be first. The questionable honour eventually fell to Hanjin, at that time South Korea's biggest shipper and number seven in the world.
Crippled with $5.4bn (£4.1bn) in debt in August 2016, the company failed to get any more money from its creditors. Hanjin went into receivership and applied for court protection.

There was still a chance for an investor or the government to come to the rescue yet it quickly became clear that any such hopes were futile.
"Stopping the credit line immediately results in an inability to purchase fuel, it immediately results in vessels not being able to go to port and it immediately results in all customers going to the competitors," explains Lars Jensen of Sea Intelligence Consulting.
What followed were long and painful months of sailors losing their jobs and investors losing their money.
No chance for a rescue?
With Hanjin's situation suddenly in limbo, its ships were stranded at sea. Most ports refused them entry, fearing they would not get paid for loading and unloading the cargo. Some ships were arrested while docking as debtors had issued warrants to get at least some of their money back.
Technically though, there still could have been a rescue - Hanjin needed to find an investor or convince the government to step in.

"There was likely a window of some 24 to 48 hours after the announcement where Hanjin could have been saved, but after that it was simply a snowball effect and it was unrealistic to bring back the company," says Mr Jensen.
The chaotic demise of the company's operations did little to shore up confidence. So over the following months, many of the better assets got sold off - ranging from vessels to cargo terminals in the US to its Asia-US route operations.
The buyers were other global shipping companies that were able to cherry pick what they wanted. "All the good assets have been sold, the carcass has been thoroughly cleaned up," says Greg Knowler, a maritime trade specialist at IHS.
After Friday's official bankruptcy, the court handling the liquidation process will proceed to sell off the remaining assets and give the money to the creditors.
For the seamen, the collapse of their company meant that almost all of them lost their jobs. Hanjin's ships had been crewed with South Korean officers and engineers and an international mix of seamen hired through agencies.

One of those now unemployed is captain Moon Kwon-do, who last year was stuck for months on the Hanjin Rome after it had been seized by creditors in the Singapore port.
"I will never sail again, I will abandon my life as a seaman," he says with bitterness and frustration.
Despite a lot of protests organised by unions, the government in Seoul did not step in to help. Yet there's doubt that saving Hanjin would have worked.
"If you're shipping cargo anywhere in the world - would you have gone with Hanjin after that?" asks Mr Knowler. The sudden suspension of all the company's vessels had led to supply chain disruptions around the world.
"I don't think it could have been saved," he concludes.
What now?
In fact, as dramatic as it was for Hanjin, for the rest of the industry the failure of one of the big players might have been a lucky break.
"This was a long time coming, it's what was widely needed," says Mr Knowler. "So from this perspective this was a good thing."
Hanjin's bankruptcy has a good chance of bringing global overcapacity in the sector down to a sustainable level.
"Everyone will be seen to have had a hard time in 2016," says Mr Jensen. Fellow shipping giant Maersk, for instance, earlier this month revealed a $1.9bn net loss for 2016 - just its second annual loss since World War Two.

"2016 was the bottom of the market, but the climb upwards towards a more balanced market will take two to three years to fully accomplish," says Mr Jensen.
Analysts agree that it is unlikely there will be another large carrier like Hanjin failing. South Korea is now left with Hyundai Merchant Marine (HMM) taking over as the country's biggest shipping company.
And while last year HMM was in as much financial trouble as Hanjin, the collapse of its fellow shipper means that it is now on a much safer footing, says Mr Knowler.
"There is absolutely zero chance that the Korean government will let another major shipping line - now their only major line - fail."

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Nation to curb fast growing steel prices www.chinadaily.com

The Chinese government is encouraging steel companies to sign long-term contracts with coal and downstream steel consuming companies while improving their product quality.

The measure, set out in a document issued by five ministry-level bodies, is aimed at stabilizing recently fast growing steel prices and further cutting the industry's overcapacity.

The document, jointly released by National Development and Reform Commission and other four ministries, said that although progress had already been made to cut overcapacity in the steel industry in recent months, the elimination of outdated capacity remains a major challenge.

Despite the rapid rise of spot and future prices for steel in the short term and the recent recovery in output and sales performance of steel companies, companies should carry out further efforts to reduce capacity to support economic growth, as the country's oversupplied steel sector has experienced years of plunging prices and factory shutdowns due to a sluggish economy, it said.

Analysts said despite the surge in steel price since the beginning of this year, the supply-demand situation has not changed and the government document aims to stabilize the market and prevent steel price from overheating and disproportionately rising.

According to Wang Guoqing, director of the Lange Steel Information Center, despite the surging steel prices, steel inventories remain high.

Figures from the center released that the total inventory of steel in 29 major cities in China exceeded 12.39 million metric tons as of Feb 10, a 35 percent increase compared with three weeks ago, surpassing the peak of 2016.

The construction steel saw the biggest growth, more than 8.31 million tons as of Feb 10, 50.8 percent higher than three weeks ago, it said.

The government needs to ensure that cutting overcapacity proceeds as planned, he said.

According to Huatai Futures, considering the current stable increase in steel output and off-season demand, the inventory for steel in 2017 is believed to exceed 18 million tons, the highest of the past three years.

China's crude steel output rose slightly last year, with crude steel production increased 1.2 percent year on year to 808.37 million tons in 2016, compared with a 2.3 percent decrease in 2015, according to the National Development and Reform Commission

China plans to reduce steel output by an additional 100 million tons to 150 million tons by 2020. Its 2016 target to cut 45 million tons was achieved ahead of schedule.

China will enact stricter rules for trimming steel overcapacity in 2017 after making significant progress in 2016, according to experts.

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IFRC calls for aid for Mongolian herders www.nhk.or.jp

Red Cross officials are calling for emergency aid for nomadic herders in Mongolia who are facing a serious food shortage and livestock losses due to extreme winter conditions.

The International Federation of Red Cross and Red Crescent Societies, IFRC, made the appeal at a news conference in Beijing on Thursday.

Officials hope to collect about 650,000 dollars. They want to send cash to the families and help put their children up at school facilities.

They said that more than 70 percent of Mongolia is currently covered with snow, and the harsh weather has killed off many of the animals that herding families rely on for food.

The situation has been made worse by a summer drought that stunted the grasses that livestock feed on.

They said nearly 160,000 Mongolians have been seriously affected.

It's the second straight year that the landlocked Asian country has been hit by a severe cold spell. More than 1.2 million of the herders' animals died last winter.

IFRC officials warn that many of the herders may flood into the slums of the capital, Ulan Bator, seeking refuge.

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Samsung Group and Lee Jae-yong www.nhk.or.jp

The Samsung Group was founded in 1938 in Daegu in the southern part of the country by Lee Byung-chull, the late grandfather of the arrested Vice Chairman Lee Jae-yong.

The group is comprised of 59 affiliate companies in fields such as heavy machinery, construction and finance, which operate in more than 90 countries and territories.

South Korea's Fair Trade Commission says the group's total assets were worth 348 trillion won, or more than 300 billion dollars, in April 2016. The figure is the largest among the country's conglomerates.

The Samsung Group's exports are said to amount to 20 percent of the country's total.

Samsung Electronics is the core of the group. It has grown into a global company through sales of smartphones, semiconductors and home appliances. It has been competing fiercely for market share with Apple and other smartphone makers.

Samsung Electronics Vice Chairman Lee Jae-yong is 48 years old.

He has studied business administration at Japan's Keio University.

Lee has been involved in his company's expansion in the semiconductor and display businesses. He became vice chairman in 2012.

After his father, the company's chairman, fell ill with myocardial infarction in 2014, he has led management as a de-facto leader.

There's concern that Lee's arrest has tarnished Samsung's image and could affect its management, as well as the South Korean economy as a whole.

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