1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     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    

Events

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

NEWS

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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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Apple boss Tim Cook criticises Trump travel ban www.bbc.com

 
Apple chief executive Tim Cook has repeated his opposition to US President Donald Trump's travel ban.
He was speaking after he collected an honorary doctorate at the University of Glasgow.
Earlier Mr Cook visited an Apple store in Glasgow, where staff gave him a tartan scarf and a drawing.
His comments on the presidential decree targeting seven predominantly Muslim countries came in a Q&A session at the university.
Responding to questions from students and staff, Mr Cook said: "I wrote this letter, you probably read about it unless you're living underground, about the most recent executive order that was issued in the US.
"We have employees that secured a work visa, they brought family to the US, but happened to be outside the US when the executive order was issued and all of a sudden their families were affected.
"They couldn't get back in. That's a crisis. You can imagine the stress.
"If we stand and say nothing it's as if we're agreeing, that we become a part of it. It's important to speak out."
Mr Cook has taken a strong stance on user privacy and other issues which have at times brought him into conflict with the US authorities.
Since taking the helm of the company, Mr Cook has led the introduction of new products such as the iPhone 7, iPad Pro and Apple Watch.
He is also leading a company-wide effort to use 100% renewable energy at all Apple facilities.
In 2015, the 56-year-old became an honorary patron of Trinity College Dublin's Philosophical Society and gave a talk to students.
The embroidered picture presented by the Apple store staff shows Mr Cook waving and the words: "Welcome Tim."
It also features saltire flags and the Loch Ness monster.
He said: "That's great. I recall looking for the Loch Ness monster in 1984.
"Everything is right but the colour of the hair."
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Goldman moves London hedge fund to US www.bbc.com

 
A Goldman Sachs hedge fund is closing its London operations and moving staff to New York, the firm has confirmed.
About eight staff members who were part of the Goldman Sachs Investment Partners (GSIP) Team in London have been told to move.
The decision follows the departure of the team's managing director, Nick Advani.
Goldman Sachs said that the move had nothing to do with the UK's exit from the European Union.
'This is a discrete decision for reasons specific to GSIP, one investment team within Goldman Sachs, and shouldn't be construed as anything but that," it said in a statement.
Mr Advani announced last year that he would be stepping down from his role as managing director. He is now an advisory director with Goldman.
GSIP was set up in 2008 with $7bn (£5.6bn) in assets and at the time was one of the biggest-ever hedge fund launches. According to its website it has offices in New York, Hong Kong and Tokyo, as well as London.
It is part of Goldman Sachs Asset Management, an investment manager with $1.15tn in assets under supervision.
The news of GSIP's departure comes amid widespread speculation that many financial jobs based in London might migrate to cities in the rest of Europe, such as Dublin, Paris or Frankfurt, so that the banks concerned could continue to offer their services to EU clients.
HSBC and UBS have warned that they will have to move some London staff abroad when the UK leaves the EU.
Last month, Lloyd Blankfein, chief executive of Goldman Sachs, said the bank had been moving parts of its "global operations" team to London, but was now "slowing that decision".
 
 
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MBD business mission to MBCCI's "The 6th Mongolia London Business Forum” and program London, UK www.mongolianbusinessdatabase.com

Mongolian Business Database MBD (www.mongolianbusinessdatabase.com) is starting to register the 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 (http://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
(P:S. English Premier League’s Chelsea vs Manchester city game will be on April 05 in London during this mission)

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

 

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