1 US-MONGOLIA 'THIRD NEIGHBOR TRADE ACT' ON THE WAY WWW.THEDIPLOMAT.COM PUBLISHED:2018/11/17      2 CHINA'S FIGHT AGAINST SMOG MAKES PALLADIUM 2018'S BEST METAL WWW.MINING.COM PUBLISHED:2018/11/17      3 MILLENNIUM CHALLENGE CORPORATION PRESENTS GMS LICENSES WWW.MONTSAME.MN PUBLISHED:2018/11/17      4 MONGOLIA CALLS FOR GLOBAL ATTENTION ON CLIMATE CHANGE WWW.NEWS.MN PUBLISHED:2018/11/17      5 ADB OPENS A NEW WASTEWATER TREATMENT PLANT IN ARVAIKHEER, MONGOLIA WWW.AGENPARL.EU PUBLISHED:2018/11/17      6 CHINA TO BOOST COOPERATION WITH INDIA, MONGOLIA: DEFENSE MINISTER WWW.GLOBALTIMES.CN PUBLISHED:2018/11/17      7 DEATH ON MONGOLIA’S ‘COAL ROAD’ WWW.NEWS.MN PUBLISHED:2018/11/17      8 MONGOLIA SHAKEN BY WIDENING LOAN SCANDAL WWW.ASIA.NIKKEI.COM PUBLISHED:2018/11/17      9 MONGOLIA’S UNEMPLOYMENT FALLS BY 2.2 PERCENT WWW.NEWS.MN PUBLISHED:2018/11/16      10 MEETING MEAT DEMAND: MONGOLIA TO TRADE 17.9 PERCENT OF LIVESTOCK WWW.NEWS.MN PUBLISHED:2018/11/16      БНСУ-ЫН АЖ АХУЙН НЭГЖҮҮДИЙН АУТСОРСИНГ ЗАХИАЛГЫГ ГҮЙЦЭТГЭХ ЗАЛУУЧУУДЫГ СОНГОН, ШАЛГАРУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/17     НҮҮРСНИЙ ЭКСПОРТ 10 ХУВИАР ӨСӨЖ, 31.3 САЯ ТОНН БОЛОВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/17     СУДАЛГААГААР ЖДҮ ЭРХЛЭГЧИД ЗЭЭЛИЙН ХҮҮНИЙ ЗАРДАЛ ХАМГИЙН ИХ ХҮНДРЭЛ УЧРУУЛДАГ ГЭЖ ХАРИУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ERDENE RESOURCE DEVELOPMENT: ХАЙГУУЛЫН ЗАРДАЛ III УЛИРАЛД 42 ХУВИАР БУУРСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ГОРХИ, ТЭРЭЛЖИЙН БАЙГАЛИЙН БОХИРДОЛД АНХААРАЛ ХАНДУУЛЖ ЭХЛЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     ИРЭХ БААСАН ГАРАГТ ХОТЫН ДАРГЫГ ОГЦРУУЛАХ ЭСЭХИЙГ ХЭЛЭЛЦЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     “АМГАЛАН” ХОТХОНД БАЙРЛАХ ГЭРТЭЭ КАННАБИС ТАРЬЖ, УРГУУЛЖ БАЙСАН ТУРК ИРГЭНИЙГ БАРИВЧИЛЖЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/17     ӨНӨӨДӨР АВТОМАШИНЫ ДУГААРЫН ХЯЗГААРЛАЛТ ҮЙЛЧЛЭХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/17     ГАШУУНСУХАЙТЫН НҮҮРСТЭЙ МАШИНЫ ЦУВАА 120 КМ БОЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/16     ТАТВАРЫН ОРЛОГО 32.2 ХУВИАР ӨСӨЖ, ТӨСВИЙН ТЭНЦЭЛ 341.9 ТЭРБУМ ТӨГРӨГИЙН АШИГТАЙ ГАРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/16    

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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Rosneft Executives Enjoy 9900% Rise in Bonus Payout www.themoscowtimes.com

Top managers at Russian oil company Rosneft will see their bonuses skyrocket by 9,900 percent for the first quarter of 2017.

Rosneft executives will receive a 1.5 billion ruble ($25.8 million) bonus, one hundred times more than the same period in 2016, Russia's Vedomosti newspaper reported Wednesday. The sum also equals more than half of the total executive bonuses received in 2016.

The decision comes despite a small slump in the company's revenue, which fell from 1,485 billion rubles ($25.6 billion) in the final quarter of 2016 to 1,410 billion rubles ($24.3 billion) in the first quarter of this year.

Rosneft said that the premiums were linked to the company's successful privatization and acquisition of Russian oil company Bashneft.

“The deal was conducted in an unprecedentedly difficult situation in the shortest possible time," a Rosneft representative told Vedomosti.

The company is yet to announce how the bonus will be divided among top executives.

Rosneft was privatized in December 2016, when the Russian government sold its 19.5 percent stake in the company to a consortium consisting of the British-Swiss commodities trading firm Glencore and the Qatari Sovereign Wealth Fund. The sale generated 10.5 billion euros ($11.3 billion) for the Russian budget, the Kremlin announced.

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Asian bio-safety committee convenes in Ulaanbaatar www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The Second Consultative Meeting of the Asian countries’ unofficial committee on “Forwarding Biological Safety Mechanism” is taking place in Ulaanbaatar on May 10-12. The meeting is jointly organized by the Government of Mongolia and the Secretariat of the Cartagena Protocol on Biosafety to the Convention on Biological Diversity.
 
12 representatives from Malaysia, Cambodia, Mongolia, China, South Korea and the Philippines are taking part in the meeting, considering conservation of bio-diversity, regional network required to ensure biological safety, raising public awareness and ensuring public involvement, as well as organizational and many other types of issues.
 
Mongolia is a party to the Convention on Biological Diversity and the Cartagena Protocol, which was ratified by the State Great Khural in 2002. The Mongolian parliament passed the Law on Modified Organism in 2007, and since has been working to establish the legal ground for ensuring bio-safety.
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Detroit revival spurs JPMorgan to make fresh $50 million pledge www.reuters.com

JPMorgan Chase & Co (JPM.N) is investing another $50 million in Detroit amid what city officials and bank executives describe as encouraging signs for urban renewal through public-private partnerships.
 
JPMorgan's latest investment, which it plans to announce on Wednesday, comes on top of a $100 million, five-year commitment the largest U.S. bank made to Detroit in 2014.
 
At the time, the city was bankrupt due to the near-collapse of the U.S. auto industry and six decades of economic decline and population exodus.
 
The bank has put up $107 million so far, funding blight removal, commercial and residential redevelopment, job skills training and loans to small businesses. Now it plans to reinvest $13 million from early loan repayments, and commit an additional $30 million, Peter Scher, the bank's head of corporate responsibility, said in an interview.
 
"There's been a much more vibrant comeback in the small business sector in Detroit than anyone expected," he said.
 
The $150 million commitment is tiny compared with the bank's $2.5 trillion balance sheet, but JPMorgan is the biggest bank in Detroit, aligning its interests with the city's. Chief Executive Jamie Dimon has made it a personal mission to improve Detroit, visiting at least six times to check on the initiative.
 
Dimon has met with contractors who needed working capital to repair homes and with food entrepreneurs who needed shared commercial kitchens for bread baking and sausage-making.
 
The bank has worked with Detroit Mayor Mike Duggan to focus its efforts on neighborhoods with the most promise and city support.
 
"Detroit's resurgence is a model for what can be accomplished when leaders work together to create economic growth and opportunity,” Dimon said in a statement provided to Reuters.
 
JPMorgan has followed other private investors. Billionaire Dan Gilbert, founder of Quicken Loans Inc, and his companies control more than 90 properties downtown in a redevelopment push.
 
Detroit was once the fifth largest U.S. city with 1.85 million people. It now ranks below the top 20 and has its smallest population since 1850. But in July 2015, by the most recent Census Bureau estimate, Detroit's 677,116 residents were just 0.5 percent fewer than the year before, the smallest drop in decades.
 
The bureau will release 2016 figures later this month. Local officials hope to see gains.
 
"It will validate all the work that is going on here," said Carmine Palombo, deputy executive director of the Southeast Michigan Council of Governments.
 
Still, the city's unemployment rate was 10.9 percent in 2016, the highest among the 50 largest U.S. cities. Nearly 40 percent of residents live in poverty and Detroit had the second-highest violent crime rate in 2016 among major U.S. cities.
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Vice President busy in Mongolia www.vov.vn

Vice President Dang Thi Ngoc Thinh suggested Mongolia carry out policies to encourage and facilitate investment by Vietnamese investors while attending a Vietnam-Mongolia Business Meeting in Ulan Bator on May 9.

Vice President D​ang Thi Ngoc Thinh presents educational tools and equipment to High School No.14 's teachers and students
The meeting was co-organised by the Vietnam Chamber of Commerce and Industry, Mongolian Employers’ Federation, and Vietnamese Embassy in Mongolia.

The Vice President told local firms about Vietnam’s advantages in attracting investors such as political stability and convenient geographical location.

The same day, the Vice President received S.Dashtsevel, President of the Mongolia-Vietnam Friendship Association, during which she urged the two countries’ friendship associations to continue their close coordination and intensify friendship exchanges and popularization of information on the two countries to strengthen mutual understanding between the two peoples.

S.Dashtsevel confirmed that his association will work to contribute to boosting mutual understanding and cooperation between the two countries.

Also on the day, Vice President Thinh met the management board and students of the High School No.14 named after President Ho Chi Minh.

She presented educational tools and equipment to the school’s teachers and students.

Thinh also visited the Vietnamese Embassy and met representatives of the Vietnamese community in Mongolia.

On May 10 morning, the Vice President is scheduled to leave Mongolia for Tokyo to attend the 27th Global Summit of Women (GWS) and pay working visit to Japan from May 10-16.

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Mongolian and Mexico sign documenr for cultural and humanitarian cooperation www.montsame.mn

 
Ulaanbaatar /MONTSAME/ On May 3, B.Altangerel, Ambassador Extraordinary and Plenipotentiary of Mongolia to the United Mexican States and Dr. Martha Navarro-Albo, Director General for Scientific and Technical Cooperation of the Mexican Agency for International Development Cooperation signed an intergovernmental program between Mongolia and Mexico on cooperation in the fields of education, art, culture, physical training, sports and youth development in 2017-2020.
 
The program will enable the sides to enjoy the possibilities to organize international fair and exhibition and arts and culture festivals. Also, Mongolian people will have opportunities to study under the Mexican government' scholarship programs and diplomats to participate in training on Mexican foreign policy and Spanish language. As Mexico is committed to preserve the cultural heritage of the ancient civilizations, such as the Aztecs and Maya, Mongolia would have a chance to learn from their experiences.
 
This program was established based on the realization of Cultural Exchange Agreement of 1985 between the governments of Mongolia and Mexico.
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Preme minister to visit China and attend Belt and Road Summit www.montsame.mn

 
Ulaanbaatar /MONTSAME/ From May 12 to 15, Prime Minister of Mongolia J.Erdenebat will attend Belt and Road Summit to be held in Beijing at the invitation of President of China Xi Jinping, and will pay a visit to China at the invitation of Li Keqiang, Premier of the State Council of China.
 
During the visit, Prime Minister J.Erdenebat will pay a courtesy call on Chinese President Xi Jinping and hold official talks with Premier Li Keqiang. He will also meet with officials from some Chinese companies investing in Mongolia.
 
Both Mongolian and Chinese Prime Ministers will attend a signing ceremony of bilateral cooperation document between the two nations.
 
The Belt and Road Summit will be attended by state and government leaders from 28 countries as well as high level officials of international organizations, including the United Nations, World Bank and International Monetary Fund.
 
Prime Minister J.Erdenebat will take part in a roundtable meeting to be hosted within the summit to deliver speeches under the themes "To coordinate policies for partnership” and “To boost cooperation in infrastructure for development”. Also, he will hold individual meetings with some world leaders during his attendance.
 
 
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Australia budget 2017: Treasurer unveils big banks tax www.bbc.com

 
Australian Treasurer Scott Morrison has unveiled a new budget which includes a surprise rise in taxation for the country's five biggest banks from July.
Mr Morrison also announced education savings which will see students pay a greater share of the cost of degrees.
Infrastructure projects, health and housing affordability were also high on the government's agenda.
The main opposition Labor party accused him of using a healthcare levy increase to fund tax cuts for big business.
But Labor supported the tax on the banks.
Mr Morrison said $6.2bn ($4.6bn; £3.5) would be raised over the next four years by the new levy on the big five - ANZ Bank, Westpac, National Australia Bank, Commonwealth Bank and Macquarie.
The head of the Australian Bankers' Association called the levy "a direct attack on jobs and growth".
"It is a tax that will hit Australians by hurting investment and could have unintended consequences... it will affect the entire banking system," said Anna Bligh, the former Queensland premier.
"This new tax is not a well thought-out policy response to a public interest issue, it is a political tax grab to cover a budget black hole."
What we knew already
The budget was the first since PM Malcolm Turnbull's government was re-elected on a tiny majority last year.
In it Mr Morrison outlined higher education reforms aimed at savings of A$3.8bn by June 2021.
But the government had already announced key aspects of the budget, including building a second Sydney airport, increasing university fees by 7.5% by 2021, and lowering the salary threshold for university debt repayments from A$55,000 to A$42,000.
In other areas, the government will provide:
The Australian Federal Police with an extra A$321m to counter the threat of terrorism;
Early childhood education with an additional A$428m;
Indigenous Australians who were exposed to radiation from British nuclear testing extra healthcare benefits;
No more subsidies on university fees for citizens from New Zealand.
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UN ESCAP projects 2 percent economic growth for Mongolia in 2017 www.montsame.mn

Ulaanbaatar /MONTSAME/ The UN Economic and Social Commission for Asia and the Pacific (ESCAP) has released the 2017 Economic and Social Survey of Asia and the Pacific which was launched on May 9, Tuesday at UN House, Ulaanbaatar.

The report’s country briefing note on Mongolia reads, “Economic growth in Mongolia slowed to 1.2 per cent in 2016 from a growth rate of 2.3 per cent in 2015 and average growth of 12.3 per cent during the period of the mining boom in 2011-2014.

The plunge in global commodity prices and weaker demand in China mainly accounted for lower economic growth in 2016. Domestic demand was also subdued, as private consumption and fixed investments decreased.

The unemployment rate increased to almost 9 per cent at end-2016.

The mining sector, which had propelled the economy in the past, experienced a drastic fall in foreign direct investment due to waning confidence and investor disputes.

The decline in mining revenues pushed up government debt to nearly 90 per cent of GDP, raising concerns over debt repayments. In this regard, the Government introduced austerity measures in August 2016 and availed itself of external financing assistance. An immediate policy priority is to demonstrate a credible fiscal consolidation plan and effective macroeconomic management.

Growth is projected to pick up to 2 per cent in 2017 and 3.5 per cent in 2018.

An expected increase in global prices of coal and copper, higher coal export volumes to China and the expansion of a major copper and gold mine are some of the contributing factors.

In addition, railway construction under China's Belt and Road Initiative and the signing of a transit transport agreement with China and the Russian Federation are expected to facilitate cross-border trade in this landlocked country.

Beyond exports, the 25 per cent minimum wage hike that became effective in January 2017 could help ease the impact of fiscal tightening and support consumer spending.

To promote medium-term economic development, the Government launched an economic recovery programme for the period 2016-2020, which includes the policy aim of diversifying the country's income sources to non-mining sectors, such as tourism and agriculture”.
Kh.Aminaa

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Moon Jae-in: South Korea's new leader to be sworn in www.bbc.com

The newly elected president of South Korea, Moon Jae-in, is due to be sworn in after a decisive election victory.
Mr Moon is taking on a country reeling from a corruption scandal which saw his predecessor removed from office.
The 64-year-old rights lawyer and economic liberal must also look to shore up a fragile economy and manage tense relations with North Korea.
He has spoken of increasing contact with the North, which would mark a major shift in South Korean policy.
Mr Moon, the Democratic Party candidate, took 41.1% of the vote, with conservative Hong Joon-pyo taking 25.5%.
Centrist Ahn Cheol-soo, who had been widely seen as a strong contender, came third with 21.4%.
Big tests ahead for Moon Jae-in
Who is South Korea's new president?
Economy a priority in S Korean elections
Speaking to supporters shortly after his victory was clear, Mr Moon said he would build "a just, united country".
"I will be a president who also serves all the people who did not support me."
He will be sworn in as South Korea's 19th president at a midday (03:00 GMT) ceremony at the National Assembly building, said South Korean media.
Who is Moon?

The son of refugees from North Korea, Mr Moon was jailed while a student in the 1970s for leading protests against military ruler Park Chung-hee - Ms Park's father.
Later, he served in South Korea's special forces before becoming a human rights lawyer.
He served as a senior aide to liberal President Roh Moo-hyun, who killed himself in 2009 after leaving office amid bribery allegations.
Mr Moon, of the centre-left Democratic Party, unsuccessfully ran against Ms Park in the 2012 elections.
He has positioned himself as the man who can move the country on from the scandals of Ms Park's era.
"I feel that not only my party and myself but also the people have been more desperate for a change of government," he said while casting his vote.
What are his policies?
Mr Moon has advocated greater dialogue with the North while maintaining pressure and sanctions, in contrast to Ms Park who cut almost all ties.
He has been critical of the two previous conservative administrations for failing to stop North Korea's weapons development.
But while tensions on the Korean peninsula ensured the election was closely watched internationally, for South Koreans the priority has been corruption and the economy, with youth unemployment stubbornly high.
Mr Moon has talked of reforming South Korea's huge family-run conglomerates, known as chaebols, which dominate the domestic economy.

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Gazprom begins Turkish Stream pipeline construction www.rt.com

 
Russian energy giant Gazprom has begun laying pipes for the Turkish Stream natural gas pipeline off the Russian Black Sea coast, Gazprom CEO Aleksey Miller said Sunday, days after the Sochi meeting between Turkish and Russian leaders.
“Today, we started the practical implementation of the TurkStream gas pipeline project: pipe-laying within the offshore section. The project has been implemented in strict compliance with the plan,” Miller said in a statement Sunday, adding that “by late 2019, our Turkish and European consumers will have a new, reliable source of Russian gas imports.”
 
Going into the details of the works that are currently under way off the Krasnodar Krai coastline, Miller said that that the inaugural construction works are being carried out by the Audacia multi-purpose pipe-laying vessel, owned by Allseas, the project’s main contractor. It is tasked with construction of both legs of the pipeline’s offshore stretch, measuring over 900 km.
 
The first of the legs, with a maximum capacity of 15.75 billion cubic meters, will deliver Russian natural gas directly to Turkey, while the second is envisioned to supply gas to European customers.
 
The much-awaited announcement comes on the heels of a meeting between Russian President Vladimir Putin and his Turkish counterpart, Recep Tayyip Erdogan, in the Russian Black Sea resort city of Sochi on May 3.
 
The Turkish Stream project, which was signed into an agreement by Putin and Erdogan in Istanbul in October 2016, was one of the key points on the meeting’s agenda.
 
The project, with an estimated total cost of €11.4 billion ($12.7 billion) was announced in December 2014, however, it was put on hold after the downing of a Russian Su-24 bomber by the Turkish Air Force in November 2015, which was followed by a sharp deterioration of relations, entailing travel restrictions, economic sanctions and the halt of joint infrastructure ventures.
 
However, since last August, when Turkey publicly apologized for bringing down the jet, many of the stalled projects, such as construction of Turkey’s first nuclear power plant and Turkish Stream project were put back on the table.
 
Pursuant to the October agreement, Russia is to construct and own the maritime section of both Turkish Stream legs, while Turkey would be in charge of construction of the land part of the branch supplying gas to its citizens.
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