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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Twitter shares dive as losses widen www.bbc.com

 
Shares in Twitter have ended the day more than 12% lower after the company reported that its fourth-quarter losses had nearly doubled.
The social networking service reported a loss of $167m (£133m) in the final three months of 2016, as against $90m in the same period a year earlier.
There were 319 million active users, 4% up on a year earlier, but revenue from ads fell slightly to $638m.
Donald Trump's use of Twitter did little to boost users or add income.
Fourth-quarter revenues were $717m, 1% up on last year's $710m.
Revenues and user numbers both fell short of analysts' expectations.
It was the company's slowest quarterly revenue growth since it became a publicly listed company in November 2013.
Some analysts had expected new US President Donald Trump's widely publicised use of Twitter would give the service a financial boost.
But during a conference call, chief operating officer Anthony Noto dismissed the idea that the "Trump effect" had been a key factor in user growth.
He said that while Mr Trump had shown "the power of Twitter" and broadened awareness of the service, it was hard for "an event or a single person" to make such a difference.
Analysis: Rory Cellan-Jones, technology correspondent
These were supposed to be the results that showed Twitter resurgent after a year of disappointment. The fact that it had been the prime social networking battleground during the US election and that every tweet from the new president garnered worldwide attention would have brought new users - and advertisers - flocking in.
That was the theory. In fact, the figures showed the slowest growth in quarterly revenue in the company's short history and a very modest increase in user numbers. The company has put on a brave face, focusing on the growth in daily rather than monthly active users.
It also says that revenue growth is lagging user growth - but investors have grown impatient for evidence that Twitter has found a sustainable business model.
Donald Trump's tweets - and the reactions they provoke - may have become essential viewing for journalists and the markets. Whether they make Twitter a great destination for advertisers is a different matter.
'Toughest challenge'
Despite the increased losses, Twitter chief executive Jack Dorsey said 2016 had been "a transformative year" for the service.
"We reset and focused on why people use Twitter: it's the fastest way to see what's happening and what everyone's talking about," he said.
"We overcame the toughest challenge for any consumer service at scale by reversing declining audience trends and re-accelerating usage."
He said daily active usage had risen for the third consecutive quarter and the upward trend was set to continue.
"While revenue growth continues to lag audience growth, we are applying the same focused approach that drove audience growth to our revenue product portfolio, focusing on our strengths and the real-time nature of our service.
"This will take time, but we're moving fast to show results."
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Official: Japan, Russia can agree on biz projects www3.nhk.or.jp

 
A senior official of Russia's Foreign Ministry has indicated that the country and Japan will agree on project plans for joint economic activities on Russian-controlled islands claimed by Japan.
Japanese Prime Minister Shinzo Abe and Russian President Vladimir Putin met in Japan last December. They agreed that the 2 countries will create a special system to implement joint economic activities on the islands in a way that will not violate Japanese or Russian laws.
Russia controls the islands. Japan claims them. The Japanese government maintains the islands are an inherent part of Japan's territory. It says the islands were illegally occupied after World War Two.
The 2 countries are scheduled to hold their first official meeting on the matter in Tokyo next month.
A Russian Foreign Ministry official in charge of diplomacy with Japan, Lyudmila Vorobyeva, held an interview with a Russian state-run news agency on Thursday.
Vorobyeva disclosed that her ministry is preparing business proposals to be presented to the Japanese side at the meeting. She said they cover such fields as aquaculture, seafood processing, geothermal power generation, and tourism.
Vorobyeva said the Russian side plans to agree on business plans that are likely to be realized in the near future.
During the interview, she also referred to the possible resumption of foreign and defense ministerial talks between the 2 countries. Vorobyeva said the meetings will likely occur in the first half of this year.
Such talks took place for the first time in Tokyo in 2013. But they have been suspended since Russia annexed the Ukrainian territory of Crimea in 2014.
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UK authority fines Mitsubishi UFJ units on US case www3.nhk.or.jp

 
Japan's Mitsubishi UFJ Financial Group says 2 of its subsidiaries have agreed to pay fines of more than 33 million dollars for failing to notify a British authority of an enforcement case in the US.
The financial group announced the settlement with the UK Prudential Regulation Authority, or PRA, on Thursday.
In 2014, the group's subsidiary bank agreed to pay New York State's financial regulator 315 million dollars in penalties.
The fines were for pressing the bank's consultant to water down a report on dealings it conducted with Iran and other US-sanctioned nations for the 6 years to 2007.
The PRA says the bank and another Mitsubishi UFJ unit did not inform the authority of the US enforcement action until after the public announcement by New York State's financial regulator. Both subsidiaries have British bases.
The PRA says it imposed a total of 26.77 million pounds, or about 33.6 million dollars, on the 2 units for failing to be open and cooperative with the authority.
Mitsubishi UFJ says it is committed to conducting business with the highest level of integrity and regulatory compliance and to continuing to improve its policies and procedures.
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Business trust index 2016 revealed www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Mongolian National Chamber of Commerce and Industry conducted its annual survey titled ‘Business trust index – 2016’ to find that about 40 percent of Mongolian businesses are unsure about intensifying their activities.
On February 9, Thursday, the National Chamber of Commerce and Industry presented the results of their survey at its building. The survey shows that expectations for improvement of business environment have been in decline since 2010, and the expectations increase in election years.
Since 2005, the survey has been conducted annually to determine the general outlook of Mongolian business environment, find the expectations of Mongolian business people, and identify the contributing factors.
The latest survey took place through interviews with business people from Ulaanbaatar and rural areas and online form, involving 862 individuals.
M.Sarandavaa, Deputy Director of the National Chamber of Commerce and Industry said, “About 40 percent of the participants of our survey are unsure about intensifying their business activities. 74.1 percent answered that they won’t expand their businesses next year”.
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‘Euro is not a currency, it’s a political weapon’ – Marine Le Pen www.rt.com

 
French presidential hopeful Marine Le Pen, who has been calling the country to leave the eurozone and give up the euro, has described the single currency as “a knife which the EU puts into the backs of the people.”
In an interview with the BBC, she talked about her vision for the future of Europe after this year’s elections in France, Germany and the Netherlands, and the UK’s Brexit vote.
According to Politico, Le Pen said the European Union should change radically and deeply, and abandon its authoritarian character, “or it will die.”
When asked if France leaving the eurozone would mean the end of the EU single currency, Le Pen said: “Maybe, and so what? The euro isn’t a currency, it’s a political weapon. The euro is a knife which the EU puts into the backs of the people to force them to go where they don’t want to go.”
She also said that if the EU doesn’t transfer powers back to Paris, there will be a French exit from the union or a so-called ‘Frexit.’
“Either the EU gives French people back their territorial sovereignty, borders, control over their economy, control over their currency and the superiority of their laws, or I will say to the French people that we should leave the EU.”
In a manifesto released last week, the leader of the National Front Le Pen said France should reconsider its relations with the European Union.
According to the 48-year-old candidate, the future French government should leave the eurozone, hold a Brexit-style referendum, levy taxes on foreign workers, lower the retirement age and increase some welfare benefits, while cutting income tax.
Earlier this month Le Pen pledged to introduce a new tax to prevent foreign employees being hired, claiming the money raised could be used for the French welfare system.
A new poll issued Thursday by research firm Harris Interactive shows Marine Le Pen will win the first round of France's presidential election in April, getting 24 percent of vote. Other polls indicated she will lose the runoff to Emmanuel Macron.
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Beijing threatens to shut down bitcoin exchanges www.rt.com

 
China’s central bank has warned domestic bitcoin exchanges they risk being closed if found violating the country’s currency regulations. The warning came as the regulator tries to curb capital outflows following fears of continued weakness in the yuan.
On its website, the People’s Bank of China (PBOC) said it has told the exchanges not to take part in financial activities such as margin lending or allow money laundering.
If such a violation is found “the circumstance will be serious,” and an inspection team will close down the offending exchange, PBOC said.
“People in the industry are watching if the regulators do more,” Wen Hao, founder of Bitpie, a Beijing-based bitcoin-related business, told the Wall Street Journal. “They’ve never said they would close a business. Based on that statement, they are getting stricter.”
Chinese regulators met with the country’s three largest bitcoin exchanges last month to remind them to “strictly” follow relevant regulations.
Demand for the virtual currency in China has been rising in recent months, fueled by yuan’s depreciation. A bitcoin was trading at about $1,065 on Thursday.
The cryptocurrency more than doubled in value in 2016, up 126 percent on the year. The Chinese yuan, on the contrary, suffered its worst year on record, weakening 6.5 percent.
China accounts for about 90 percent of all bitcoin trading on exchanges. The country has strict capital controls, which makes it difficult for the Chinese to convert the yuan into foreign currency and limits the amount of cash investors can move abroad. That pushes Chinese investors to use the digital currency as a way to circumvent capital controls and minimize risk from the falling value of the domestic currency.
Bitcoin's rally to become last year’s best-performing currency has caught the attention of Chinese regulators concerned the virtual asset was contributing to capital outflow.
Data released by PBOC this week showed China’s FX reserves fell below $3 trillion for the first time in six years in January. They declined by $12.3 billion to $2.9 trillion.
Beijing has spent more than a quarter of its reserves propping up the yuan over the past two years. The reserves fell by $320 billion in 2016, after a record drop of $513 billion the previous year.
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Disney boss warns China trade war would be damaging www.bbc.com

 
Walt Disney's chief executive has warned that a trade war between the US and China would be bad for business.
China is increasingly important for the firm's movie and merchandise sales.
And it says Disneyland Shanghai - its first theme park in mainland China - was one of its "biggest success stories in 2016."
But there are fears protectionist policies being pursued by US President Donald Trump could set off a trade war between the two countries.
'Can't shut borders'
During his election campaign, Mr Trump threatened to impose a 45% tariff on Chinese imports, to try and tackle what he sees as an increasingly unbalanced economic relationship between the nations.
"An all-out trade war with China would be damaging to Disney's business and to business in general," Disney's chief executive Bob Iger told CNBC.
He was also critical of an executive order signed by Mr Trump barring migrants and refugees from several Muslim countries.
"We cannot shut our borders to immigrants," he said.
Holiday boost
The comments came as Disney reported overall sales unexpectedly falling to $14.8bn (£11.8bn) in the three months to the end of December, which is 3% lower than the same period a year ago.
It blamed a drop in advertising earnings at its cable network ESPN and a 7% fall in revenues at its movie business.
Disney's shares initially dropped 2% in after hours trading.
Since it opened its gates last June, Disneyland Shanghai has received more than 7 million visitors.
The firm reported tickets had been sold out over most of the Lunar New Year holiday period which began ten days ago.
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Exclusive: Tesla pausing factory for Model 3 preparation this month www.reuters.com

 
Tesla Inc (TSLA.O) said on Wednesday it will shut down production at its California assembly plant for a week this month to prepare for production of its high-volume Model 3 sedan, moving the company closer to meeting its target to start production in July.
 
Tesla said the "brief, planned" pause would allow the company to add capacity to the existing paint shop to prepare it for the Model 3, and other general maintenance.
 
"This will allow Tesla to begin Model 3 production later this year as planned and enable us to start the ramp towards 500,000 vehicles annually in 2018," said a Tesla spokesman.
 
He added that the pause was not expected to have a material impact on first-quarter production or delivery figures, as the company had added production days to compensate.
 
Separately, sources told Reuters that the luxury electric carmaker planned to begin test-building the Model 3 on Feb. 20.
 
Tesla Chief Executive Elon Musk last year told investors and more than 370,000 customers who put deposits down for a Model 3 that he intended to start building the cars in July 2017. At the time, many analysts and suppliers said the timeline was too ambitious and would be difficult to achieve, pointing to Tesla's history of missing aggressive production targets.
 
If Tesla succeeds in starting pilot production of the sedan at its factory in Fremont, California on Feb. 20, as people familiar with the matter told Reuters, the company would be able to share the news with shareholders two days later when it reports fourth-quarter results and better answer any questions about the Model 3 rollout.
 
'STOKE THE FAN BASE'
 
The sources did not know how many of the highly anticipated vehicles Tesla aimed to build in February, but it would likely be a small number to test the assembly system and the quality of vehicle parts.
 
"What better way to stoke the fan base and Wall Street than to wheel out pre-production models" ahead of the earnings announcement, said one person familiar with Tesla's plans who spoke on condition of anonymity.
 
The Tesla spokesman declined to comment on the company's production schedule.
 
Musk had told investors last year that the company could miss the July 2017 startup target if suppliers do not meet deadlines.
 
Tesla has a lot riding on the Model 3, which is priced at roughly $35,000 before government incentives. If successful, the sedan could raise Tesla beyond a niche luxury player in the automotive sector.
 
Tesla has not had a profitable year since going public in 2010, though the company's $41.4 billion market capitalization now equals that of Nissan Motor Co Ltd (7201.T), which reported a profit of $4.7 billion last year.
 
Musk's bold approach to cars, space exploration and clean energy has fueled investor enthusiasm for Tesla, but skeptics are waiting to see if Musk can fulfill his promise of producing 500,000 cars per year by 2018.
 
That would expand Tesla's annual production by four to five times compared to 2016 levels. In its fourth quarter, Tesla produced 24,882 vehicles.
 
Tesla disclosed in May that it had taken 373,000 refundable $1,000 deposits for the Model 3, underscoring its appeal ahead of production. The company has not since updated that number. Total sales of fully electric vehicles last year in the United States amounted to just 84,275 vehicles, according to data compiled by the Electric Drive Transportation Association.
 
MOVING DESIGN TARGET
 
Sources with knowledge of the Model 3 timeline had called it extremely aggressive, with challenges compounded by Tesla making last-minute changes to the car's design. Such design tweaks can delay production, and add cost as suppliers rework tools and molds to meet new specifications.
 
Musk said in July the design of the Model 3 was complete. The car, he told shareholders earlier in May, would be "easy to make" and free of the complicated design that led to production delays in the Model X sports utility vehicle.
 
It is common practice for automakers to make minor adjustments to a "finished" design for a variety of reasons, ranging from fit and finish to safety.
 
One source said last week that design changes were still underway for the Model 3, which could potentially hinder the ramp-up to full production. Tesla declined to comment on whether the design was still being tinkered with.
 
Tesla's previous launches for the Model S sedan and Model X sports utility vehicle were marked by production delays and initial quality issues.
 
That track record meant some analysts were skeptical that Musk would launch production by July. "We assume 0 Model 3 deliveries in '17," Barclays analyst Brian Johnson wrote in a Jan. 3 note, while Morgan Stanley's Adam Jonas in a Jan. 19 note said he expected a "soft launch" of the Model 3 to be delayed until late 2017.
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MHI asks Hitachi to pay $6.8 bil. for power plant www3.nhk.or.jp

 
A dispute is intensifying between two Japanese corporate giants over a thermal power plant project in South Africa. Mitsubishi Heavy Industries has asked Hitachi to pay 6.8 billion dollars to cover losses over the joint venture.
Mitsubishi Heavy Industries is expected to post losses due to the project's ballooning costs. A Hitachi subsidiary launched the power plant project before the joint venture was set up three years ago.
Executives at Mitsubishi Heavy Industries said talks with Hitachi are continuing but declined to give further details.
Hitachi officials are refusing to accept the request for payment saying it lacks legal ground. Both two sides say their joint venture will continue despite the dispute.
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Boeing front-runner for $13.8 billion Singapore Airlines order: Bloomberg www.reuters.com

 
Boeing Co (BA.N) is the front-runner for a Singapore Airlines Ltd (SIAL.SI) order of at least 35 wide-body aircraft that could be valued at around $13.8 billion at list prices, Bloomberg reported.
A decision to go with Boeing would be a setback for Airbus Group (AIR.PA), which plans to build a bigger version of its A350 although these plans have already been placed on hold amid uncertainty over demand for wide-body jets.
Singapore Airlines is looking at choosing 20 of the latest model of Boeing's 777, the 406-seat 777-9 over a stretched version of the Airbus A350, Bloomberg said, citing people familiar with the matter.
It is also poised to take at least 19 of the longest Dreamliner model, the Boeing 787-10, it reported, adding that the order could be unveiled this week.(bloom.bg/2lscCA1)
Canada gives aid to Bombardier, vows to defend any trade dispute
Singapore Airlines said in a statement that it has discussions with aircraft manufacturers on a regular basis about its fleet requirements.
"Such discussions are confidential until we have a firm deal to announce", it said.
Boeing declined to comment.
Singapore Airlines has also reviewed a proposed version of the twin-engine 777 that would carry about 450 passengers, a load previously handled by four-engine jumbo jets only, Bloomberg said.
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