1 TOP 10 RICHEST PEOPLE IN MONGOLIA 2018 MONGOLIAN BILLIONAIRES WWW.ELITESHARED.COM PUBLISHED:2018/07/22      2 IRKUTSK REGION'S EXPORT OF CHICKEN EGGS TO MONGOLIA ALMOST DOUBLED WWW.RUSEXPORTER.COM PUBLISHED:2018/07/21      3 86 PERCENT OF ACTIVE ENTITIES IN MONGOLIA HAVE UP TO 9 EMPLOYEES WWW.GOGO.MN PUBLISHED:2018/07/20      4 MONGOLIA TAKES STEPS TO BOOST CASHMERE PRODUCTION WWW.NEWS.MN PUBLISHED:2018/07/20      5 HIV INFECTIONS RISES TO 262 IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2018/07/20      6 FRONTCLEAR FACILITATES A LANDMARK TRANSACTION WITH STATE BANK MONGOLIA, EBRD AND ING BANK WWW.KTVN.COM PUBLISHED:2018/07/20      7 MONGOLIA COULD BE RIO'S COPPER GROWTH KEY WWW.MINING-JOURNAL.COM PUBLISHED:2018/07/20      8 FOREIGN OFFICE MINISTER MARK FIELD VISITS MONGOLIA WWW.GOV.UK PUBLISHED:2018/07/20      9 ZOO-BRED PRZEWALSKI’S HORSES ARE FREED INTO THE PLAINS OF MONGOLIA WHERE THEIR ANCESTORS ROAMED FOR CENTURIES HAVING BATTLED BACK FROM JUST ONE SURVIVING WILD ANIMAL WWW.DAILYMAIL.CO.UK PUBLISHED:2018/07/20      10 MONGOLIAN AND CHINESE JOINT VENTURE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2018/07/20      ТАВАНТОЛГОЙ-ЗҮҮНБАЯН ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫГ БАРИХ АЖИЛ ЭХЛЭЭД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/22     ШИНЭ УРГАЦ ГАРЧ ЭХЭЛСЭН Ч НОГООНЫ ҮНЭ ӨНДӨР ХЭВЭЭР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/20     АВТОЗАМД ҮҮССЭН ХОХИРЛЫН ХЭМЖЭЭ 1,3 ТЭРБУМ ТӨГРӨГТ ХҮРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/20     BURBERRY БРЭНД 32.6 САЯ АМ.ДОЛЛАРЫН ҮНЭ БҮХИЙ БАРАА БҮТЭЭГДЭХҮҮНЭЭ ШАТААЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/20     ИРГЭДЭЭС ЦУГЛАСАН ХАНДИВААР ГАЛ УНТРААХ ТОНОГ ТӨХӨӨРӨМЖ АВЧЭЭ WWW.DNN.MN  НИЙТЭЛСЭН:2018/07/20     ГААЛИЙН БАЙГУУЛЛАГЫН ТӨСӨВТ ТӨВЛӨРҮҮЛСЭН ОРЛОГО 1.2 ИХ НАЯД ТӨГРӨГТ ХҮРЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ИХ БРИТАНИЙН АЗИ НОМХОН ДАЛАЙН БҮС НУТГИЙГ ХАРИУЦСАН САЙД МАРК ФИЙЛД МХБ-Д ЗОЧИЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ЭКО АЛТНЫ УРАМШУУЛЛЫГ МОНГОЛБАНК ОЛГОХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/20     ЯМАШИТА МАМОРҮ: МОНГОЛД ДУНДАЖ ЦАЛИНГ ТЭТГЭВРИЙН ХЭМЖЭЭТЭЙ УЯЛДУУЛЖ ТООЦОХ МЭРГЭЖЛИЙН БАГ ХЭРЭГТЭЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/20     ХЯТАД УЛС БИЗНЕСИЙН ОРЧНОО САЙЖРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/19    

Events

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

NEWS

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Mongolia expects to receive USD 1.4 billion investment www.news.mn

On 11 May, the State Great Khural, as the Mongolian Parliament is known, discussed the 2019 State Budget. According to the finance minister, next year, the country will receive a total of USD 1.4 billion in investment in 2019; nearly one billion is projected for the Oyu Tolgoi underground mine development - the remainder in construction sector.

Mongolia economic growth forecast is eight percent in 2018 and six percent in 2020.

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Construction of Mongolia's first oil refinery to begin later this year www.news.mn

The construction of Mongolia's first oil refinery will begin in its southeastern Dornogovi Province in the third quarter of 2018, the country's Ministry of Mining and Heavy Industry said.

The project will be completed by 2022, according to D.Sumiyabazar, Minister of Mining and Heavy Industry.

The project is being financed by a loan from India, which was announced during Indian Prime Minister Narendra Modi's visit to the country in 2015.

The refinery will have a processing capacity of 1.5 million metric tons of oil per year and will annually produce 560,000 tons of gasoline and 670,000 tons of diesel fuel, as well as 107,000 tons of liquefied gas. The refinery would boost Mongolia's gross domestic product by 10 percent.

Mongolia currently exports crude oil to China while importing practically all its petroleum products from Russia.

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Trump seeks to save Chinese jobs at ZTE ahead of trade talks www.bbc.com

US President Donald Trump has said he wants to help save ZTE, one of China's biggest telecoms companies.

The firm has suspended operations after the commerce department last month banned US companies from selling it components for seven years.

ZTE pleaded guilty to making illegal shipments to Iran and North Korea.

Mr Trump tweeted that he was working with President Xi to ensure ZTE would get back into business fast, saying too many jobs in China were at risk.

The commentators say the tone of the tweet is a dramatic shift for Mr Trump, who has consistently accused China of stealing US jobs.

The concession to Beijing comes ahead of high-level trade talks later this week in Washington aimed at resolving an escalating trade dispute between the world's two largest economies.

Beijing has made resolving the situation with ZTE, which employs about 80,000 people, one of its demands for striking a broader trade agreement with with US.

In March 2017 ZTE admitted to violating US sanctions by illegally shipping American technology to Iran and Korea and was fined $1.1bn (£800m).

The current export ban was imposed last month after the company allegedly failed to comply with its agreement, lying about the punishment of employees involved in skirting the sanctions.

ZTE spent more than $2.3bn on imports from about 200 US companies last year.

Douglas Jacobson, a lawyer in Washington DC who represents some of ZTE's suppliers, said: "This is a fascinating development in a highly unusual case that has gone from a sanctions and export control case to a geopolitical one.

"There's no legal mechanism for this. How this will play out remains to be seen. They are not simply going to be able to resume business as usual."

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Release of Americans by North Korea sets stage for summit, Singapore seen likely venue www.reuters.com

WASHINGTON/SEOUL (Reuters) - Singapore is the most likely venue for a summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, a U.S. official said, after Pyongyang cleared a major obstacle to the meeting with the release of three American prisoners.

The three prisoners, freed after U.S. Secretary of State Mike Pompeo met Kim in the North Korean capital, were flying back to Washington where Trump said he planned to meet them early on Thursday.

The release of the last U.S. detainees in North Korea appeared to signal an effort by Kim to improve the tone for the summit and followed his recent pledge to suspend missile tests and shut a nuclear bomb test site.

A U.S. official, speaking on the condition of anonymity, said Singapore has emerged as the likeliest location for the planned summit after Trump ruled out holding it at the heavily fortified demilitarized zone between North and South Korea.
South Korean foreign minister to strategize with Pompeo ahead of Korea summits
Trump, who previously said Singapore was under consideration, said agreement had been reached on a date and venue and details would be announced within three days.

The release of the prisoners gave Trump a chance to tout a diplomatic achievement just a day after his decision to pull out of the Iran nuclear deal drew heavy criticism from European allies and others.

“I am pleased to inform you that Secretary of State Mike Pompeo is in the air and on his way back from North Korea with the 3 wonderful gentlemen that everyone is looking so forward to meeting. They seem to be in good health,” Trump wrote on Twitter.

“I appreciate Kim Jong Un doing this and allowing them to go,” Trump told reporters at the White House.

The three men are Korean-American missionary Kim Dong-chul, detained in 2015; Kim Sang-duk, also known as Tony Kim, who spent a month teaching at the foreign-funded Pyongyang University of Science and Technology (PUST) before he was arrested in 2017; and Kim Hak-song, who also taught at PUST and was detained last year.

“We would like to express our deep appreciation to the United States government, President Trump, Secretary Pompeo, and the people of the United States for bringing us home,” the three said in a statement released by the State Department as their pane stopped over in Alaska.

“We thank God, and all our families and friends who prayed for us and for our return. God Bless America, the greatest nation in the world.”

North Korean state media said they were arrested either for subversion or “hostile acts” against the government.

Until now, the only American released by North Korea during Trump’s presidency was Otto Warmbier, a 22-year-old university student who returned to the United States in a coma last summer after 17 months of captivity and died days later.

Warmbier’s death escalated U.S.-North Korea tensions, already running high at the time over Pyongyang’s stepped-up missile tests.

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EBRD and EU improve waste management in Ulaanbaatar www.ebrd.com

The EBRD is providing a US$ 9.7 million loan (€7.9 million equivalent) to Ulaanbaatar municipality to improve the city’s waste management.

The funding will help the Mongolian capital invest in a landfill that complies with EU standards, purchase new waste-collection equipment and introduce a construction- and demolition-waste plant. The investment is supported by €4.9 million in funding from the European Union (EU).

Mongolia’s capital Ulaanbaatar has expanded rapidly in recent years from an estimated 800,000 inhabitants in 2000 to 1.4 million in 2018. This increase in population has put a strain on municipal services, including solid waste management. It has also led to an increase in construction activities and related waste, which is currently being disposed of in the existing landfills or other locations without being crushed or recycled.

With the additional landfill, the city will be in a position to dispose of a significant part of its waste in line with EU standards, while new equipment will help to improve waste collection, transportation, recycling and disposal services and lead to higher environmental and hygiene standards. Furthermore, a new specialised waste facility will help to recycle construction and demolition waste.

These improvements are an important step towards making Mongolia’s capital a greener city. Ulaanbaatar faces various urban challenges. These include a high level of pollution, which stems from the vast expansion of the ger districts where many inhabitants live in traditional yurts and burn coal or wood to heat their homes during the long, cold winter.

The investment is part of a comprehensive Green City Action Plan, which will be developed by the municipality to identify the key environmental challenges and related green investments. It is part of the EBRD’s work with various cities across its regions to help them tackle these challenges in a cost-efficient manner, improve municipal services and build green economies.

The project is also supported by technical cooperation funds from the Republic of Korea and Japan.

The EBRD works in Mongolia to build a diverse economy by developing the private sector and supporting infrastructure improvements. The Bank has invested more than €1.4 billion in almost 100 projects in the country, since it started operations there in 2006.

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Turquoise Hill announces financial results and review of operations for the first quarter of 2018 www.turquoisehill.com

Turquoise Hill Resources today announced its financial results for the quarter ended March 31, 2018. All figures are in
U.S. dollars unless otherwise stated.
HIGHLIGHTS
 Oyu Tolgoi achieved a strong All Injury Frequency Rate of 0.21 per 200,000 hours worked for the three months ended
March 31, 2018.
 Underground development achieved record-level monthly progress during Q1’18, with 2.6 equivalent kilometrescompleted during the quarter.
 In March 2018, the underground team experienced their highest development month to date.
 Since the restart of development, a total of 10.3 equivalent kilometres of lateral development has been completed.
 Sinking of Shaft 2 was completed in January 2018 and sinking of Shaft 5 was completed in March 2018.
 During Q1’18, underground expansion spend was $270.5 million, resulting in total project spend since January 1, 2016
of approximately $1.4 billion.
 Production from first draw bell remains planned for mid-2020 and sustainable first production in 2021.
 During Q1’18, Oyu Tolgoi produced 38,800 tonnes of copper and 42,000 ounces of gold.
 Revenue of $245.6 million in Q1’18 increased 3.4% over Q1’17 reflecting higher copper and gold prices partly offset by
lower concentrate sales volumes.
 For Q1’18, the Company recorded income of $79.7 million and net income attributable to owners of Turquoise Hill of
$85.7 million or $0.04 per share.
 Turquoise Hill generated cash flow from operating activities before interest and taxes of $14.7 million in Q1’18.
 For Q1’18, Oyu Tolgoi’s cost of sales was $2.23 per pound of copper sold, C1 cash costs were $1.76 per pound of
copper produced and all-in sustaining costs were $2.07 per pound of copper produced1
.
 Operating cash costs1
of $176.6 million in Q1’18 increased 4.9% over Q1’17 reflecting higher open pit and
concentrator maintenance costs.
FINANCIAL RESULTS
Income in Q1’18 was $79.7 million compared with $29.7 million in Q1’17. The increase mainly reflects the impact of
higher copper prices, reduced depreciation and depletion and lower finance costs due to higher amounts of interest
capitalized to property, plant and equipment, partially offset by reduced sales volumes. Cash generated from operating
activities in Q1’18 was $19.4 million compared with $86.3 million in Q1’17. This reduction was primarily driven by
significant movements in working capital, partly offset by higher copper prices. Capital expenditure on property, plant and
equipment was $285.7 million on a cash basis in Q1’18 compared to $147.9 million in Q1’17, attributed principally to
underground ($270.5 million) with the remainder related to open-pit capital activities.
Turquoise Hill’s cash and cash equivalents at March 31, 2018 were approximately $1.5 billion.

Please review the full report at turquoisehill.com

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Former head of China's Anbang jailed for 18 years www.bbc.com

The former head of China's embattled insurance and financial giant Anbang has been jailed for 18 years for corruption and fraud.

Wu Xiaohui admitted on state television in March to fraudulently raising billions of dollars from investors.

He will also have 10.5bn yuan ($1.7bn; £1.2bn) confiscated from him, according to Chinese state media.

Mr Wu was first detained in June last year. Chinese regulators took control of Anbang in February 2018.

Beijing, which has been cracking down on the financial industry in an attempt to guard against excessive borrowing and risk, had been concerned about Anbang's operations and had previously warned investors about the firm's wealth management products.

In an unusual move, regulators took control of the firm for one year over concerns it would not be able to meet its long-term financial obligations.

Regulators said at the time their actions were aimed at protecting the rights and interests of consumers and keeping the firm operating as usual.

Anbang is best known for its aggressive international acquisitions, including New York's Waldorf Astoria hotel.

Mr Wu, who founded Anbang in 2004, had long been considered one of the most politically connected men in China, having married the granddaughter of former leader Deng Xiaoping.

Anbang started out as a car insurance firm with state-owned backers, has been recognised as one of China's richest and most opaque conglomerates.

In addition to selling insurance products, it owns a portfolio of international properties and global brands.

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IMF staff team working in Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ The International Monetary Fund (IMF) is conducting the fourth review of the Extended Fund Facility Program being realized in Mongolia.

An IMF staff team led by Geoff Gottlieb is working in Mongolia these days. On May 9, MP B.Choijilsuren, Head of the Parliamentary Standing Committee on Budget, received members of the staff team including chief Geoff Gottlieb and IMF Resident Representative in Mongolia Neil Saker.

The sides discussed the current state of the Mongolian economy and budget and the future trends.
Kh.Aminaa

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Victory day 2018: Mongolia's role in defeating fascism www.news.mn

On Wednesday 9 May, Russia is marking the 73rd anniversary of the victory over Nazi Germany in the Great Patriotic War of 1941-1945.

Russian President Vladimir Putin has emphasized the important role played by Mongolia in supporting the Soviet Union during World War II in the victory over fascism. In 2015 he met former Mongolian President Ts.Elbegdorj, who was invited to attend the 70th anniversary of Victory Day on Red Square.

Mongolia was the most reliable ally of the Soviet Union and Russians have newer forgot the help of the Mongolian people during World War II. Heroic Mongolian soldiers fought alongside the Red Army in the hardest time of 1941 when the German army was in suburbs of the Moscow and the survival of the Soviet Union hung on a thread.

The Mongolian lend-lease was comparable to the American lend-lease: Over 480 thousand horses were provided on a lend lease basis and 32 thousand for free. In total, 20% of all the horses in the Russian army were Mongolian. The US provided 665 thousand tonnes of beef; the Mongolian contribution was 500 thousand tonnes.

The United States provided 54,000 tonnes of wool, whilst Mongolian people 64000 tonnes. The Mongolian people also helped financially with donations of their own gold and money which was used to build a total of 53 tanks. In addition, and an air squadron called “Mongolian Arat” was given to the Soviet Air Force.

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Meat processing complex to be built in Tuv Province www.news.mn

For several years, Mongolia has been looking at establishing large scale slaughter and meat processing plants in order to boost exports. Currently, large volumes of meat are being exported to China, however, Beijing is concerned about inconsistencies in health standards. For this reason, it was only natural that China would become the main partner in establishing such a facility.

The international standard, eco-friendly complex plant with an annual processing capacity of a million head of livestock will be constructed in the Bayan Soum of Tuv Province. The meat processing complex will be constructed in three stages with Chinese investment worth USD 40 million.

A cooperation agreement for constructing the complex was signed by D.Munkhbaatar, Deputy Governor of Tuv province, A.Idersuren, chief of ‘Tuv-Erdenet’ state-owned enterprise and Ma Yuang Feng, director of ‘Ai Zhui’ farming, science and technological company of Ordos, in the Inner Mongolia Autonomous Region of China.

The first stage of construction of complex is expected to commence in June this year. By June 2020, when the second stage is put into operation the complex will produce semi-processed meat and meat products . In the third stage, a bio-science and analysis laboratory will be opened; this is planned to be completed by December 2021.

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