1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      НУРАХ ДӨХСӨН БАЙРУУДЫГ ШИНЭЧЛЭХ КОМПАНИ ОЛДОХГҮЙ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛС ВАШИНГТОН, ПЁНЬЯНЫ ХЭЛЭЛЦЭЭРТ ЗУУЧЛАХАД БЭЛЭН ГЭДГЭЭ ЗАРЛАЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20    

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

Mongolia Economic Forum 2017 www.gogo.mn

Mongolia Economic Forum (MEF) 2017 is scheduled to be held on March 30-31st at the State Palace, under the motto "Think sustainable, Act responsible".
The forum aims to bring together policy makers, the private sector, and civil society representatives to discuss economic issues. Over 1,500 participants attend the forum each year.
Forum guests include the President of Mongolia, Prime Minister of Mongolia, Speaker of Parliament, Members of Parliament, Cabinet Ministers, representatives of foreign company, local businessmen, public stakeholders, local and international media, and representatives of international organizations. 
Registration is now open at www.meforum.mn/register

...


64x64

Ulaanbaatar to expand its tax base www.montsame.mn

Ulaanbaatar /MONTSAME/ “We will work towards expansion of tax base and increase of revenue”, remarked Ulaanbaatar Mayor S.Batbold during the signing of a memorandum of understanding with Mongolian Taxation Authority on March 14.

On behalf of the Mongolian Taxation Authority, Director S.Zorig signed the memorandum formalizing the two side’s cooperation this year.

“Mayor’s Office is responsible for strengthening the material base of taxation entities and enabling working conditions for the staff which we will ensure. Today, we are establishing a memorandum to cooperate on assistance to taxpayers with the Taxation Authority ”, the Mayor said.

For his part, the Taxation Authority Director said, “This memorandum is important for laying the foundations for further cooperation between the Taxation Authority and Governors’ Offices of districts”.

In the frameworks of the memorandum, implementation of taxation laws will be ensured in the capital and district levels and realization of VAT law will be intensified.

...


64x64

Mongolia secures safety for US plane landing www.montsame.mn

Ulaanbaatar /MONTSAME/ Ulaanbaatar-bound US military airplane C-17 made an emergency landing at Chinggis Khaan International Airport, just reaching its destination.

A faulty engine led to the plane’s emergency landing at 13:59 PM on March 14, Tuesday at the capital airport, confirmed Mongolian Civil Aviation Authority. The airplane was conducting a scheduled flight from Qatar to Mongolia.

The Chinggis Khaan International Airport staff secured readiness for the emergency landing of the C-17 airplane operated by 8 crew members, reported the officials.

...


64x64

IMF calls for action against protectionism www.nhk.or.jp

The International Monetary Fund has called on the Group of 20 economies to avoid protectionism, in an apparent warning to US President Donald Trump.

The IMF released its report on the global economy on Tuesday before the G20 finance ministers and central bank governors begin a 2-day meeting on Friday in Germany.

This will be the first such meeting since Trump took office in January.

The report says a strong commitment to a rules-oriented multilateral trading framework maximizes the benefits from global integration and safeguards against risks.

The Trump administration has indicated that it may ignore World Trade Organization decisions on trade disputes if they are not in the country's favor.

The draft of a joint statement to be released after the G20 talks does not contain the phrase "to resist protectionism".

Attention is focused on whether the participants will include these words in the final version.

...


64x64

Toyota to study production in Saudi Arabia www.nhk.or.jp

Executives at Japanese automaker Toyota Motor are considering whether to make cars in Saudi Arabia. They say they've signed a memorandum of understanding with Saudi officials to study the possibility of setting up a factory in the Middle Eastern nation.

Toyota plans to see if it would be possible to secure parts and whether demand would be strong enough.

Toyota exported about 37,000 cars to Saudi Arabia from Japan last year. The company also ships vehicles there from other countries. Toyota accounts for about one-third of all the cars on Saudi roads.

Separately, the Economy Ministers of the two countries signed another memorandum. They agreed for Japan to help the Gulf nation in its quest to lessen its dependence on oil.

It says Japanese officials will support desalination projects to help Saudi Arabia deal with chronic water shortages. They will provide know-how for managing non-governmental organizations.

The 2 sides also agreed to jointly study whether Japan's expertise in the technology known as Internet of Things and housing construction can be applied to Saudi Arabia.

...


64x64

Mid-flight slumber cut short by exploding headphones www.bbc.com

Australian authorities have warned about the dangers of using battery-powered devices on flights after a woman's headphones caught fire.
The woman was dozing on a flight from Beijing to Melbourne when she was woken by the sound of an explosion.
She tore the headphones off to find them sparking, catching fire and beginning to melt.
The explosion and fire left her with a blackened face and blisters on her hands.
The passenger, who has not been named, told the Australian Transport Safety Bureau (ATSB) she was listening to music when the explosion occurred.

"I just grabbed my face which caused the headphones to go around my neck. I continued to feel burning so I grabbed them off and threw them on the floor. They were sparking and had small amounts of fire."

Members of the flight crew rushed to help and eventually put out the fire by pouring a bucket of water on the headphones.
By that time, the battery and the plastic cover had melted and stuck to the floor.
"For the remainder of the flight, passengers endured the smell of melted plastic, burnt electronics and burnt hair," the ATSB said in its report.
The report said did not mention the brand of headphones, but said it believed that a fault with a lithium-ion batteries was the likely cause.

The ATSB has published a set of guidelines for travelling safely with batteries and power packs, warning that "as the range of products using batteries grows, the potential for in-flight issues increases".
There have been a number of problems with lithium batteries on flights in recent years.
A plane about to take off from Sydney last year had to be stopped when smoke was coming from a piece of hand luggage. It was then found that lithium batteries had caught fire in the luggage.
An electronic device also began emitting smoke when it was crushed under a moving seat in the US, the ATSB said.
Last year, malfunctioning batteries in Samsung's Note 7 caused many of the smartphones to overheat, catch fire and melt.
Several such incidents also occurred on planes leading to international aviation authorities banning the device from planes. The Note 7 was soon recalled by Samsung and production has been scrapped.

...


64x64

Chinese data, strikes bring copper price back to boil www.mining.com

In New York on Tuesday copper for delivery in May enjoyed a third day of gains adding 1% to $2.6505 per pound or $5,843 a tonne on the back of upbeat economic data from China and continued labour disruptions at the world's biggest mines.

The Statistics Bureau of China said on Tuesday industrial production led by the steel industry jumped 6.3% in January and February of 2017 (released together to smooth out distortions in the data caused by the Chinese new year).

Fixed asset investment shot up by 8.9% compared to 8.1% for 2016 as a whole thanks to strong private sector investment. China consumes some 46% of the world's copper and the price of the metal is influenced by broader economic trends thanks to its widespread use in a variety of industries.

Reuters also reported on Tuesday that talks to resolve the strike at Escondida, the world's largest copper operation by a wide margin, is going nowhere. The main union representing 2,500 workers at the Chilean mine released a statement that it will "maintain the strike for an indefinite amount of time" after a third attempt to restart negotiations with management failed.

The previous labour strike in 2006 ended after 25 days while the current wage deal was signed four years ago when copper was trading around $3.40 a pound

The strike at the BHP Billiton operated mine is already in its 34th day. The previous labour strike in 2006 ended after 25 days while the current wage deal was signed four years ago when copper was trading around $3.40 a pound.

In its annual financial results BHP said it expected full-year production at Escondida of 1.07 million tonnes, which gives the mine a nearly 5% shares of global primary copper production.

BHP, which operates and majority owns the mine with fellow Melbourne diversified giant Rio Tinto, declared force majeure at the mine on February 10 sending the copper price to its highest since May 2015, but an unexpected surge in copper inventories at facilities controlled by the LME and on the Shanghai Exchange stopped the rally in its tracks.

Peru strike adds to Freeport woes
In Peru top listed copper producer Freeport McMoRan's Cerro Verde mine which recently underwent a massive expansion has also been hit by labour action. Workers walked off the job on Friday for an indefinite strike saying production at the mine is running at 50%. Cerro Verde, controlled by Freeport with a 53.6% stake, Sumitomo Metal (21%) and Buenaventura (19.6%), produced just under 500,000 tonnes of the red metal last year, making it the South American nation's top producer.

At the same time Freeport's Grasberg mine in Indonesia faces a concentrate export ban as it negotiates a new operating licence and ownership agreements with the Asian nation. Last month Phoenix-Arizona-based Freeport said it does not foresee a return to business as usual at its 90%-owned operating subsidiary in the country.

Freeport Indonesia is in the process of suspending its investments at the remote mine in Papua province and reducing production by roughly 60% from normal levels. In January Freeport said for each month of delay in obtaining approval to export, the Indonesian subsidiary's share of production is projected to be reduced by approximately 32,000 tonnes of copper and 100,000 ounces of gold.

...


64x64

Russian, Mongolian experts to meet for discussion of power plants in Lake Baikal area www.tass.com

MOSCOW, March 13. /TASS/. Experts of Mongolia and Russia will hold the first meeting in June to discuss construction of a chain of hydropower plants (HPP) on the Selenga river and its feeders, Mongolia’s Ambassador to Banzragchiin Delgermaa told TASS on Monday.
"A mutual decision was made according to results of the intergovernmental commission meeting [in December 2016 - TASS] that we will exchange information in the first instance," the diplomat said. "Mongolia has a conclusion of a French expert company that also built HPP in Russia regarding two our projects. According to their conclusion, construction of the HPP will not actually exert negative influence on environment. However, Russia has its conclusion and its studies," the ambassador said.
"It was decided to set up a joint research team with scientists and experts of both sides," Delgermaa said. "We suggested holding the meeting with participation of Russian and Mongolian experts in March but the Russian party made a proposal to postpone such a meeting until June," she said.

The Baikal Lake is unique, the ambassador said. "This is not merely the Russian but also the global treasury. Therefore we will undertake measures to prevent environmental problems and will jointly settle arising issues," the diplomat added.
Russian environmental and scientific circles have repeatedly expressed their concerns about Mongolia’s plans to build three dams at rivers that feed Lake Baikal, the world’s largest and deepest freshwater lake and a UNESCO World Heritage site. Under the plan, three dams are to be built: one at the Selenga River, that accounts for some 80% of all water that flows into the lake, and two at its main tributaries - the Eg River and the Orkhon River.
The announcement coincided with the unprecedented decline in the Baikal water level that started in fall of 2014 and continued through 2016.

...


64x64

MSE to collaborate with Toronto Stock Exchange www.montsame.mn

Ulaanbaatar /MONTSAME/ During the Prospectors & Developers Association of Canada’s conference that took place in Toronto, Canada, Director of Global Business Development at Toronto Stock Exchange Robert Peterman and President of Capital Formation for Equity Capital Ungad Chadda have received the delegates of Mongolian Stock Exchange (MSE).

The meeting was attended by Minister of Mining and Heavy Industry Ts.Dashdorj, MP A.Undraa, head of Mineral Resources and Petroleum Authority of the Government Implementing Agency B.Baatartsogt, CEO of Mongolian Stock Exchange Kh.Altai and other delegates from Mongolia.

As a result, MSE and Toronto’s Stock Exchange have decided to cooperate on starting double-registration activities. Although Mongolia enabled legal environment of double registration, stock companies have not taken advantage of this opportunity yet.

Toronto Stock Exchange is considered as one of the biggest stock market as it is ranked 9th in the world. A total of 3.278 registered companies are traded in the Stock Exchange with mostly mining companies. In 2015, the Stock Exchange raised a total of CAD 57.7 million funds.

Around 11 companies that operate in Mongolia are registered in the Toronto Stock Exchange, such as “Erdene Resource Development Corporation”, “South Gobi Resources” and “Turquoise Hill Resources”. Once the cooperation takes effect, these companies will be registered in MSE, offering shares and securities to the investors.

...


64x64

"Mongolian tax rate is low compared to other developing countries" www.mongolia.gogo.mn

 
On 12 March, Mongolian Business Council held its regular meeting among its members.
At the beginning of the meeting, new members of the council were introduced. Following John Langtry, Australian Ambassador to Mongolia briefly introduced Women`s Leadership Program (WLP), which is a sub component of the Australia Awards Mongolia and is funded by the Department of Foreign Affairs and Trade of Australia. WLP is designed for male and female alumni of the Australia Awards Mongolia who have completed Masters degree programs in Australia and are currently working as mid career professionals in public, private and civil society organizations.
Mongolia has reached Staff-Level Agreement with International Monetary Fund (IMF) on Three-Year Extended Fund Facility. Meeting participants discussed the effects of IMF`s program on economy. Economist D.Jargalsaikhan moderated the discussion and James Anderson, World Bank's Country Manager for Mongolia, Neil Saker, the IMF`s Resident Representative in Mongolia, B.Lkhagvasuren, vice president of Bank of Mongolia answered questions of participants.
B.Lkhagvasuren, vice president of Bank of Mongolia stated that previous authorities spent US$ 8 billion in vain which caused current budget deficit.
Economist D.Jargalsaikhan noted that now the Government officials will hear our voice. They become more obedient during economic difficulties. Thus we should constantly express our voice and demands.
Participants questioned that in scope of IMF`s Extended Fund Facility Program, Mongolia will increase six types of tax rates and social insurance contributions. Will it shrink the economy and cause bankruptcy for private sector?
In response, Neil Saker, the IMF`s Resident Representative in Mongolia: "Mongolian tax rate is low compared to other developing countries. 10 percent of personal income tax rate is at the same level as countries in the Middle East".
...