1 FRONTIER'S "INVEST MONGOLIA TOKYO 2018" WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/09/19      2 U.S.-CHINA TRADE TUSSLE IS CREATING WINNERS IN SOUTHEAST ASIA WWW.BLOOMBERG.COM PUBLISHED:2018/09/19      3 YUSAKU MAEZAWA: THE JAPANESE BILLIONAIRE WHO WANTS TO FLY TO THE MOON WWW.BBC.COM PUBLISHED:2018/09/19      4 MONGOLIAN FOREIGN MINISTER RECEIVES CARDANO BLOCKCHAIN FOUNDER WWW.NEWS.MN PUBLISHED:2018/09/19      5 ERDENE ANNOUNCES RESOURCE ESTIMATE FOR THE HIGH-GRADE KHUNDII GOLD PROJECT WWW.GLOBENEWSWIRE.COM PUBLISHED:2018/09/19      6 RUSSIAN GIANT COPPER PROJECT IN TALKS TO RAISE $1.25B WWW.REUTERS.COM PUBLISHED:2018/09/19      7 MONGOLIA GRADUALLY WITNESSING PROGRESS IN TOURISM WWW.TRAVELANDTOURWORLD.COM PUBLISHED:2018/09/19      8 CHINA, MONGOLIA, RUSSIA PUSH FOR ‘ECONOMIC CORRIDOR’ WWW.RUSSIABUSINESSTODAY.COM PUBLISHED:2018/09/19      9 EXPERTS FROM CHINA, MONGOLIA, RUSSIA TALK ON CONSTRUCTION OF ECONOMIC CORRIDOR WWW.XINHUANET.COM PUBLISHED:2018/09/19      10 PM U.KHURELSUKH PAYING AN OFFICIAL VISIT TO THE UNITED STATES WWW.MONTSAME.MN PUBLISHED:2018/09/18      ШЕНГЕНИЙ БОГИНО ХУГАЦААНЫ ВИЗИЙН МЭДҮҮЛГИЙГ УЛААНБААТАР ХОТОД АВНА WWW.MEDEE.MN НИЙТЭЛСЭН:2018/09/19     2018 ЭХНИЙ 7 САРД МОНГОЛЧУУД ГАДААД РУУ ЭМЧИЛГЭЭНД ЯВАХДАА 19.5 САЯ АМ.ДОЛЛАР ЗАРЦУУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ӨНӨӨДӨР ТӨВ ТАЛБАЙД 4000 АЖЛЫН БАЙРАНД БҮРТГЭНЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/09/19     ЗАЛУУЧУУДЫН ГАРААНЫ БИЗНЕСИЙН ШАЛГАРСАН ТӨСӨЛД 10,0 САЯ ТӨГРӨГИЙН ДЭМЖЛЭГ ҮЗҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/19     WORLD ECONOMICS: МОНГОЛЫН АЖИЛ ЭРХЛЭЛТИЙН ТҮВШИН СҮҮЛИЙН 5 ЖИЛИЙН ДЭЭД ТҮВШИНД ХҮРЛЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ERD: "ХӨНДИЙ" АЛТНЫ ТӨСЛИЙН ТОГТООГДСОН НӨӨЦ 751 МЯНГАН УНЦ АЛТ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ХЯТАДЫН $200 ТЭРБУМЫН ИМПОРТОД ТАРИФ ТОГТООВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/19     ШИВЭЭХҮРЭН БООМТООР ХОНОГТ 60-80 МЯНГАН ТОНН НҮҮРС ЭКСПОРТОЛЖ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/19     БНХАУ-ЫН 200 ТЭРБУМ АМ.ДОЛЛАРЫН ИМПОРТОД 10 ХУВИЙН ТАРИФ НОГДУУЛАХ ШИЙДВЭР ИРЭХ 7 ХОНОГООС ХЭРЭГЖИНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/18     ӨВӨЛ ЦАХИЛГААН СААТВАЛ ХОТ ДӨРВӨН ЦАГИЙН ДОТОР Л ХӨЛДӨНӨ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/18    

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

64x64

Global stocks & Sterling steady as Brexit begins www.rt.com

World stock markets were trading steady on Wednesday, with the British pound reversing early losses as the UK officially started the two-year process to exit the European Union.
Read more
Britain's permanent representative to the European Union Tim Barrow and EU Council President Donald Tusk © Yves HermanBritain formally triggers Article 50 to leave the EU
After a brief dip during Asian trading hours, the British currency balanced, as a draft EU document made no mention of the possibility the two sides would fail to strike a deal.

Sterling was trading down 0.2 percent against the US dollar at $1.2419 as of 2:00pm GMT. It was up 0.5 percent against the euro.

Since the historic June vote to leave the EU, the British currency has plummeted nearly 20 percent against the US dollar, consistently hitting 30-year lows throughout the period.

"Triggering Article 50 is not a shock like the EU Referendum result. It has been widely signaled by the government that this would happen in March, so it is no great surprise,” said Andrew Sentance, senior economic adviser at PwC and former Bank of England policymaker.

"Most likely, we face another two years of uncertainty before a new relationship between the UK and the EU is properly agreed. During this period we will probably see some bouts of financial volatility affecting the value of the pound and reduced business and financial confidence,” Sentance was cited as saying by the Daily Telegraph.

Britain's blue-chip index the FTSE 100, which is dominated by overseas earners, was up 0.1 percent at 7,337.88. The FTSE 250 index, which is seen as a better gauge of UK businesses, was almost flat at 18, 93184.

US stock futures and European stocks were unchanged, shrugging off any potential uncertainty of the major “risk event.”

S&P 500 futures were little changed at 2,358.57; the pan-European STOXX Europe 600 was up 0.1 percent to 377.81. German DAX and the French CAC were also in positive territory.

Hong Kong’s Hang Seng Index added 0.2 percent, while the Nikkei Stock Average was up 0.1 percent.

Nine months after Britons voted to leave the European Union, Prime Minister Theresa May on Wednesday notified EU Council President Donald Tusk that Britain was quitting the bloc it joined in 1973. She said there was "no turning back" from the decision.

Tusk said it was not a 'happy day' and has warned of 'difficult negotiations' in the months ahead. "We already miss you. Thank you and goodbye," said the EU Council President in his statement to Britain.

...


64x64

Northern Railways to provide 5 million tpy of freight capacity on Erdenet to Ovoot railway www.worldcoal.com

Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited (ASX: AKM, the Company or Aspire), has, through its rail subsidiary, Northern Railways LLC (Northern Railways), entered into a Memorandum of Understanding (MOU) with MTGT LLC, the 100% owner of the Huren Chuulut Iron Ore Project.

Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited (ASX: AKM, the Company or Aspire), has, through its rail subsidiary, Northern Railways LLC (Northern Railways), entered into a Memorandum of Understanding (MOU) with MTGT LLC, the 100% owner of the Huren Chuulut Iron Ore Project.

Huren Chuulut is a large iron ore deposit located approximately 50 km to the north west of the Khuvsgul capital of Moron and 60 km north of the approved rail alignment for the Erdenet to Ovoot Railway. This Project needs rail to Erdenet to be able to connect to customers in China. Mongolia currently exports iron ore to Chinese customers along the Trans Mongolian Railway.

The MOU covers the sharing of development progress, mutual support in funding activities and the provisional allocation of 5 million tpy of freight capacity as soon as the rail line has been extended to the proposed connection point approximately two thirds along the total 549 km Erdenet to Ovoot Railway. It is expected that the Northern Rail Corridor will see significant demand for its freight capacity of at least 15 million tpy, growing to 30 million tpy in the long term.

Aspire’s Managing Director David Paull said that this MOU demonstrated that the Erdenet to Ovoot Railway will not only benefit Mongolia’s coking coal industry. Once completed, the Northern Rail Corridor, of which the Erdenet to Ovoot Railway is an important part, will see transport of a range of resources, agriculture and manufactured goods”.

...


64x64

Mongolian business delegates are heading to "Mongolia London Business Forum" next week

MBD business delegates that includes mining supply, real estate management, audit/financing, agriculture and private air services are heading to London for Mongolian British Chamber of Commerce's "6th Mongolia London Business Forum" at LSE, Bloomberg headquarters and Parliament Building and "13th for Mongolia's Development forum" which will be held at EBRD headquarters.

There will be more than 250 investors and business participants at the event.

 
 
...


64x64

Elon Musk creates Neuralink brain electrode firm www.bbc.com

Tesla chief executive Elon Musk has launched Neuralink, a start-up which aims to develop technology that connects our brains to computers.
A report from the Wall Street Journal, later confirmed in a tweet by Mr Musk, said the company was in its very early stages and registered as a “medical research” firm.
The company will develop so-called “neural lace” technology which would implant tiny electrodes into the brain.
The technique could be used to improve memory or give humans added artificial intelligence.
According to the Journal, leading academics in the field have been signed up to work at the company which is being funded privately by Mr Musk.
Specialists in the field envision a time when humans may be able to upload and download thoughts.
In a tweet on Tuesday evening, Mr Musk confirmed the existence of the company and said more details about the firm would be made public next week via WaitButWhy - a site known for illustrating its lengthy post with often crude but charming stick figure drawings.
Mr Musk is considered one of Silicon Valley’s most visionary figures - and surely now its busiest.
As well as heading electric carmaker Tesla, Mr Musk is involved with running space exploration company Space X, a project to reinvent transport called Hyperloop and, most recently, a firm investigating the feasibility of boring tunnels underneath Los Angeles - and a new project to power Australia.
Tweeting about Neuralink, Mr Musk conceded it would be “difficult to dedicate the time, but existential risk is too high not to”.

...


64x64

China's Tencent buys 5% stake in Tesla www.bbc.com

Chinese tech giant Tencent has spent $1.78bn (£1.4bn) on buying a 5% stake in electric carmaker Tesla.
Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing.
Tesla said the stake was passive, meaning Tencent would not get a say in how the US firm was run.
Shares in Tesla rose 2.3% in early trading following the announcement.
Tesla's range of electric cars has included the Model S and the Roadster, which was billed as the world's first electric sports car.
The company also specialises in battery storage, and, through its SolarCity subsidiary, residential solar panels.
The firm has been raising capital ahead of the launch of its mass-market Model 3 sedan, and gained about $1.2bn through a bond and share sale earlier in March.
Tencent, one of Asia's largest technology firms, has backed several electric vehicle companies in the past.
It was an early investor in NextEV, a Shanghai-based start-up which since has rebranded itself as Nio and has offices in San Jose, California, close to Tesla's base.
Tencent is now the fifth-largest shareholder in Tesla behind chief executive Elon Musk and investment companies Fidelity, Baillie Gifford and T Rowe Price.
Mr Musk remains the largest shareholder, with a stake of about 21% as of the end of 2016.

...


64x64

Rio Tinto may take over Pistol Bay’s uranium assets sooner than expected www.mining.com

Rio Tinto (LON:RIO) may become the sole owner of Pistol Bay Mining’s. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, sooner than originally planned, as it has decided to pay the junior miner $750,000 before April 17.

Rio will effectively hold a 100% stake in the uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2.25 million by the end of 2019.
The move by the world's second largest miner amends a January agreement and means that once it gives Pistol Bay the remaining sum, Rio will own three key assets, located close to Cameco’s McArthur River mine — the world’s largest producing uranium mine.

Pistol Bay said Rio will effectively hold a 100% stake in the C 4, 5 and 6 uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2.25 million by the end of 2019.

In 2014, the Vancouver-based junior optioned the C5 Property, along with the C4 and C6 claims to Rio Tinto, which already has a 75% interest in the assets. Last year, Rio announced its intention to exercise its option to increase its stake in the assets to 100% by paying Pistol Cdn$5 million by December 2019.

So far, the mining giant has drilled 12 holes for a total of 6,104 m on the C5 Property, and completed gravity and DC resistivity surveys.

Meanwhile, Pistol Bay will focus its efforts in advancing its Dixie zinc-copper-gold properties in Ontario, Canada, which it bought in October last year.

The acquisition, combined with the already optioned Dixie and Dixie 3 Properties, made the Canadian junior the dominant landholder in the Confederation Lake Greenstone Belt, a 7,050 hectares-area in the area southeast of Red Lake.

...


64x64

Park to attend hearing on her arrest warrant www.nhk.or.jp

Former South Korean President Park Geun-hye will attend a court hearing at which it will be decided whether an arrest warrant for her will be issued.

South Korean prosecutors revealed on Tuesday that Park's lawyers said she will state her case in the hearing at the Seoul Central District Court on Thursday.

Park allegedly colluded with her friend Choi Soon-sil to receive or agree to receive about 39 million dollars in bribes from the Samsung Group. She is also accused of applying pressure to companies to donate money to 2 foundations linked to Choi.

The prosecutors asked the court to issue the arrest warrant on Monday.

They said the case is very grave, as the suspect engaged in abuses of power by using her high position and authority as president. They also said Park may try to destroy evidence.

An NHK correspondent in Seoul says Park is likely to deny the allegations.

...


64x64

Why the Belt and Road Initiative has exceeded expectations www.chinadaily.com

BEIJING - New Zealand on Monday became the first developed Western country to sign a cooperation agreement with China on the Belt and Road Initiative.

As a signature initiative of China's blueprint for economic globalization, the Belt and Road has the participation of more than 100 countries and international organizations, with over 40 signing cooperation agreements with China, outstripping global expectations

The initiative has reaped an early harvest as it has helped stimulate economic growth, create jobs and improve quality of life in countries along the routes.

People cannot help but wondering how the China approach has achieved such an effect despite a sluggish economic recovery, flagging international trade and a degree of backsliding on globalization.

The key lies in abandoning the law of the jungle, hegemonism and power politics as a zero-sum game, while replacing them with cooperation, partnerships and sharing.

Wisdom, responsibility and genuine pursuit of common development are embodied in the initiative, which has been recognized by more economic players and has even transcended ideology and traditional geopolitics.

For instance, China have been working with Australia and New Zealand to transcend differences in national conditions, culture and tradition to achieve successful outcomes on the basis of respect and equality.

Instead of merely emphasizing trade like the old days, China's Belt and Road Initiative is more about investment, infrastructure, shared opportunity and interconnectivity for a shared future, evident in China's cooperation with Saudi Arabia and Israel, two important countries along the Silk Road economic belt.

China and Saudi Arabia signed 14 cooperative agreements during a visit by Saudi King Salman bin Abdulaziz Al Saud to Beijing earlier this month, including projects involving production capacity and investment cooperation worth about $65 billion.

During Israeli Prime Minister Benjamin Netanyahu's visit to China in March, the two sides announced an innovative comprehensive partnership and signed agreements for cooperation in economy, science and technology, commerce and civil aviation.

China hopes to boost Belt and Road cooperation with Middle Eastern countries as development is both the root and solution to solving thorny issues in the conflict-torn region.

Opening-up has been a driving force to lift China to become the world's second largest economy during the recent decades.

The country has long been a staunch champion of free trade, as it knows all too well that the benefits outweigh the costs for countries at either end of the balance sheet.

Despite its trade deficit with Australia and New Zealand, for instance, China remains committed to greater mutual openness in both markets.

In the global reality that seems to be tilting towards protectionism and anti-globalization, the Belt and Road Initiative brings hope that openness, shared development and cooperation will cross walls and barriers.

In hard times, the world needs wisdom and unity to move forward. The early harvest of the Belt and Road Initiative has proved it is a good choice.

...


64x64

Amazon buys Souq in big play for Middle East market www.cnn.com

Amazon has had its eye on the Middle East for some time. Now it's finally made a move.
It has agreed to buy the region's biggest e-commerce platform, Souq.com.
"Joining the Amazon family will enable souq.com to continue growing while working with Amazon to bring even more products and offerings to customers worldwide," Souq said in a statement.
The statement did not disclose the size of the deal. CB Insights valued Souq at more than a billion dollars, after it raised $275 million from investors last year. Souq does not disclose financial information.
Amazon (AMZN, Tech30) had to beat off local competition for the online marketplace.
Emaar Malls, an arm of Dubai's biggest real estate developer, said on Monday it bid $800 million for Souq.com.
Founded 10 years ago by Ronaldo Mouchawar, Samih Toukan and Hussam Khoury, Souq has become the biggest player in the market. Mouchawar estimates online shopping in the Middle East was worth $20 billion in 2016.
Related: Saudi Arabia and Burj Khalifa developer launch Gulf answer to Amazon
When Souq started out, e-commerce was virtually unknown in the Middle East. Back then, the company employed five people in Dubai. Now it has 3,000 workers across the Arab world and sells more than 8 million products in 31 categories.
Analysts at Standard Chartered estimate that e-commerce in the region is growing by 30% each year, and that many markets remain untapped.
The acquisition is expected to close this year.

...


64x64

Samsung plans to sell refurbished Galaxy Note 7s www.reuters.com

Tech giant Samsung Electronics (005930.KS) plans to sell refurbished versions of the Galaxy Note 7 smartphones, the company said late on Monday, signaling the return of the model pulled from markets last year because of fire-prone batteries.

Samsung's Note 7s were permanently scrapped in October after some phones self-combusted, prompting a global recall roughly two months after the launch of the near-$900 devices.

A subsequent investigation found manufacturing problems in batteries supplied by two companies - Samsung SDI Co and Amperex Technology.

Analysis from Samsung and independent researchers found no other problems in the Note 7 devices except the batteries, raising speculation that Samsung will recoup some of its losses by selling refurbished Note 7s.

A person familiar with the matter told Reuters in January that it was considering the possibility of selling refurbished versions of the device or reusing some parts.

Samsung's announcement that revamped Note 7s will go back on sale, however, surprised some with the timing - only days before it launches its new S8 smartphone on Wednesday in the United States, its first new premium phone since the debacle last year.

Under pressure to turn its image around after the burning battery scandal, Samsung had previously not commented on its plans for recovered phones.

"Regarding the Galaxy Note 7 devices as refurbished phones or rental phones, applicability is dependent upon consultations with regulatory authorities and carriers as well as due consideration of local demand," Samsung said in a statement.

South Korea's Electronic Times newspaper, citing unnamed sources, said on Tuesday that Samsung will start selling refurbished Note 7s in its home country in July or August and will aim to sell between 400,000 and 500,000 of the Note 7s using safe batteries.

Samsung said in a statement to Reuters that the company has not set specifics on refurbished Note 7 sales plans, including what markets and when they would go on sale, though it also said it does not plan to sell refurbished Note 7s in India or the United States.

The company said refurbished Note 7s will be equipped with new batteries that have gone through Samsung's new battery safety measures.

"The objective of introducing refurbished devices is solely to reduce and minimize any environmental impact," it said.

The company estimated that it took a profit hit of $5.5 billion over three quarters because of the Note 7's troubles. It had sold more than 3 million of the phones before taking the model off the market.

Samsung also plans to recover and use or sell reusable components such as chips and camera modules, as well as rare metals such as copper, gold, nickel and silver from Note 7 devices it opts not to sell as refurbished products.

Environment rights group Greenpeace and others had urged Samsung to come up with environmentally friendly ways to deal with the recovered Note 7s. Greenpeace said in a separate statement on Monday that it welcomed Samsung's decision and that the company should carry out its plans in a verifiable manner.

...