1 FOREIGN RELATIONS OF MONGOLIA’S ROAD TRANSPORT SECTOR BROADENING WWW.MONTSAME.MN PUBLISHED:2019/02/21      2 MONGOLIA EXPRESSES READINESS TO CONTRIBUTE TO STRENGTHENING ASIA-EUROPE COOPERATION WWW.MONTSAME.MN PUBLISHED:2019/02/21      3 OYU TOLGOI FUNDED 35.1 KM ROAD OPENS IN KHANBOGD WWW.GOGO.MN PUBLISHED:2019/02/21      4 POLYMER BITUMEN TO BE DOMESTICALLY PRODUCED WWW.MONTSAME.MN PUBLISHED:2019/02/21      5 KHURELBAATAR CHIMED: 319 ENTITIES DREW LOANS FROM TWO FUNDS WWW.ZGM.MN PUBLISHED:2019/02/21      6 CONSTRUCTION OF TAVANTOLGOI-GASHUUNSUKHAIT ROAD TO BE INTENSIFIED WWW.MONTSAME.MN PUBLISHED:2019/02/20      7 OVER 30 MEASURES PLANNED FOR REDUCTION OF ENVIRONMENTAL POLLUTION WWW.MONTSAME.MN PUBLISHED:2019/02/20      8 MONGOLIA SAYS IT EARNS OVER 169 MLN USD FROM COAL EXPORTS TO CHINA IN JAN WWW.HELLENICSHIPPINGNEWS.COM  PUBLISHED:2019/02/20      9 RUSSIA’S GAZPROM TO START CHINA GAS PIPELINE BY DECEMBER 1 WWW.RT.COM PUBLISHED:2019/02/20      10 MONGOLIA'S FOREIGN TRADE UP 41.6 PCT IN JAN. WWW.XINHUANET.COM PUBLISHED:2019/02/20      УГСАРМАЛ ОРОН СУУЦНЫ ДУЛААЛГАД ЗОРИУЛЖ 12.7 ТЭРБУМ ТӨГРӨГИЙГ УЛСЫН ТӨСВӨӨС ГАРГАХААР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/21     2018ОНД ЦАГААН БУДАА , ЭЛСЭН ЧИХЭР , ТАХИАНЫ МАХНЫ ИМПОРТ 24-32 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ДЦС IV: 2018 ОНД НИЙТ АШИГ 4.7 ДАХИН ӨСӨЖ , 4.48 ТЭРБУМ ТӨГРӨГ БОЛСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ТУСГАЙ САНГУУДААС ГАРГАСАН ЗЭЭЛИЙН 100 ОРЧИМ ТЭРБУМ ТӨГРӨГ ХУГАЦАА ХЭТЭРСЭН ӨР БОЛЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     МОНГОЛ УЛСЫН БОРЛУУЛАЛТЫН МЕНЕЖЕРҮҮДИЙН ИНДЕКС СҮҮЛИЙН 12 САРД АНХ УДАА УНАЛТЫН БҮСЭД ШИЛЖИВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     2018 ОНД ХАМГИЙН ЧИНЭЭЛЭГ БҮЛГИЙН ХЭРЭГЛЭЭ ЯДУУ БҮЛГИЙНХНЭЭС 5.1 ДАХИН ИХ БАЙВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     ХОВД ГОЛД ОСОЛДСОН 6 НАСТАЙ ХҮҮХДИЙН ЭРЛИЙГ ЗОГСООЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/21     ДБНХ-НООС П.ОРХОНЫ БАРИЛДАХ ЭРХИЙГ 4 ЖИЛЭЭР ХАСАВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/21     УУХҮЯ: II САРЫН БАЙДЛААР НИЙТ НУТАГ ДЭВСГЭРИЙН 5.6 ХУВЬД АШИГТ МАЛТМАЛЫН ЛИЦЕНЗ ОЛГОСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/20     300 ОРТОЙ ТӨРӨХ ЭМНЭЛГИЙН БАРИЛГЫН АЖИЛ 80%-Д ХҮРЧ ГУРАВДУГААР САРЫН 1-НЭЭС ДУЛААНД ХОЛБОГДОХООР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/20    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Amazon to buy Whole Foods for $13.7bn in all-cash deal www.rt.com

Amazon has announced plans to acquire leading US organic food grocer Whole Foods Market for $13.7 billion. The e-commerce giant is making a huge bet on physical stores and the business of food.

In a deal that is set to be sealed in the second half of the year, Amazon will pay $42 per share in cash for the upmarket grocery chain.
On Thursday, Whole Foods shares were halted at $32.77 in premarket trading, while Amazon's shares were up 0.5 percent at $969.
Whole Foods’ co-founder and chief executive officer John Mackey will continue to run the chain with the headquarters of the company to remain in Austin, Texas, the companies said.
Whole Foods has been put under pressure by Jana Partners, one of the investors, and money manager Neuberger Berman. They criticized the company for poor performance and suggested the chain be sold.
“This partnership presents an opportunity to maximize value for Whole Foods Market's shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers,” said Mackey in a statement.
This is Amazon's second attempt to take over the grocery chain, according to a source familiar with the situation, as quoted by Bloomberg.
“Amazon clearly wants to be in grocery, clearly believes a physical presence gives them an advantage. I assume the physical presence gives them the ability to distribute other products more locally. So theoretically you could get five-minute delivery,” said Michael Pachter, an analyst at Wedbush Securities Inc.

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Russian Bank Launches Drone Delivery Scheme www.themoscowtimes.com

Russia's largest bank has launched a pilot program which could see cash delivered by drone.

Sberbank made its first drone-assisted delivery on Thursday, Lev Khasis, the first deputy chairman of the bank's board, said.

The money was carried 10 kilometers in a secure container from Sberbank's cash center to a waiting van, Khasis wrote on social media. He reported that the drone reached speeds of 180 kilometers per hour.

Sberbank CEO German Gref announced the drone delivery pilot scheme in May, but warned excited consumers that "a lot of questions" still needed to be answered before the technology could be put into general use.

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AIIB chief says US, Japan welcome to join www.nhk.or.jp

The President of the Asian Infrastructure Investment Bank says the organization is keeping the door open for the United States and Japan to join.

Both countries have maintained a cautious stance on the bank, saying they have concerns about the transparency of its operations.

AIIB President Jin Liqun held a news conference following the organization's second annual meeting in Jeju Island, South Korea, on Saturday.

He said that the AIIB has approved 2.49 billion dollars in finance for 16 projects in 9 countries in Asia and the Middle East since its founding in 2015.

In response to South Korean President Moon Jae-in's call for investment in North Korean infrastructure, including a railroad linking the countries, Jin said the bank's committee should decide when investing in a non-member state.

The AIIB says it has added 3 new members, bringing the total to 80.

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Jack Ma says Alibaba will be bigger than economies of UK & France in 20yrs www.rt.com

The founder of Chinese e-commerce giant Alibaba, Jack Ma, says his company will be worth more than the world’s fifth-largest economy by 2036. Alibaba is already bigger than some countries, including Sweden, Poland, Iran, Norway, and Austria.

“If a company can serve two billion consumers, that is one-third of the total population of the world. If a company can create 100 million jobs, that is probably bigger than most governments can do. If a company can support 10 million profitable businesses on its platform, this is called an economy,” Ma told company investors at Alibaba’s headquarters in Hangzhou, as quoted by South China Morning Post.

Alibaba wants to earn $1 trillion in gross merchandise volume by 2020 to become the world’s 16th or 17th largest economy, bigger than Turkey or Saudi Arabia.

In 2036, Alibaba would become the № 5 economy in the world, just behind the United States, China, EU and Japan, according to Ma. The company will have created 100 million jobs by that time, he added.

Alibaba had roughly 450 million active annual buyers on its China marketplaces in the financial year that ended March 31.

The company unites a family of internet-based businesses, which enables its users to buy or sell anywhere in the world. It has developed businesses in consumer e-commerce, online payment, business-to-business marketplaces, and cloud computing, and has started developing mobile apps, mobile operating systems, and internet TV.

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World's largest cashmere factory burnt in Mongolia www.russianconstruction.com

On Wednesday, on June 14, in the Mongolian capital of Ulan Bator the world's largest plant for the production of cashmere, Gobi, caught on fire. The alert reports about the fire were recorded in local emergency services at 22:46 local time.

Eleven fire brigades (more than 200 firefighters) of the capital of Mongolia have been fighting the fire throughout the night.

No potential causes of the fire at the plant have been announced yet. According to preliminary data, the fire broke out due to repair activities carried out on the roof.

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Takata reportedly preparing for bankruptcy www3.nhk.or.jp

Sources say struggling Japanese auto parts maker Takata is taking final steps to file for bankruptcy as early as this month. The company is one of the world's top 3 airbag producers but has been involved in a worldwide recall since 2013.

The company posted its biggest net loss ever in fiscal 2016 due to mounting costs stemming from the recall.

It's said to be filing for bankruptcy to get financial backing worth an estimated 1.8 billion dollars from US auto parts maker Key Safety Systems.

In January, Takata agreed to pay one billion dollars in penalties to settle charges with the US Justice Department over faulty airbags.

Takata airbags were responsible for at least 11 deaths, as well as injuries to 2 people in Japan.

Company officials decided to sell off subsidiaries and seek a sponsor to help rebuild the firm.

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Mongolia, Russia and China trade representatives meeting in Mongolia www.montsame.mn

The 13th high-level meeting of Chambers of Commerce and Industry of Mongolia, Russia and China is being held in Ulaanbaatar. Over 300 business delegates of the three countries are exchanging views on trilateral trade cooperation and investment and defining their future goals.

The Mongolian Chamber of Commerce and Industry announced the year of 2017 as ‘Year of Facilitating Trade’ and the Mongolian side has a position to ease procedures and acts related to cross-border trade, costs, required documents, inspections and controls after negotiating with the neighbor countries.

The meeting is being attended by chairman of the Mongolian Chamber of Commerce and Industry Mr B.Lkhagvajav, Chairman of Chamber of Commerce and Industry of Russian Federation Mr S.N.Katyrin and Vice Chairman of the China Council of the Promotion of International Trade Mr Wang Jinzhen.

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Zara founder’s $361mn donation to fight cancer stirs controversy amid tax evasion claims www.rt.com

Zara’s founder is sharing his wealth by donating $361 million worth of state-of-the-art cancer fighting equipment to Spanish hospitals, but his goodwill is being slammed by those who believe the retail chain’s parent company is guilty of tax avoidance.

The donation made by Amancio Ortega, the store’s founder and the richest man in Europe, has been sharply criticized since the Green Party accused Zara’s parent company, Inditex, of employing “aggressive” tax strategies and techniques to avoid paying €585 million ($653 million) in taxes from 2011 to 2014 – a claim that Inditex denies.
The Federation of Associations for the Defense of Public Health Services has also hit out at Ortega, with spokesperson Luisa Lores telling AFP that the donation is a “way to avoid paying taxes,” as part of the donation is tax deductible.
The federation also made its platform clear earlier this month, saying in a statement that Ortega should “not be demonstrating his philanthropy but his desire to contribute to public finances in a way that is proportional to his profits.”
However, people actually battling cancer have expressed gratitude, including a patient named Inma Escriche who took to Facebook to say she hopes those who have condemned the donation never have to experience what she is going through.
“I just wish that neither they nor any loved one (in the hypothetical case that they are capable of loving someone) are in the position of needing it,” she wrote, referring to the donated equipment.
The billionaire’s donation represents eight percent of last year’s public health budget for Spain, a country which sees more than 200,000 cancer cases diagnosed annually, according to Ortega’s foundation, which is carrying out the donation.
Hospitals in Galicia and Andalusia have already received machines used for screening and radio therapy treatment of breast cancer, according to Reuters. Ortega’s foundation told AFP that it will continue to arrange delivery of the equipment to other hospitals across the country.
Ortega’s foundation was set up in 2001 with proceeds from Inditex’s stock market flotation. It has previously funded other charitable projects, including scholarships for students to study abroad and the construction of early learning centers in Ortega’s home region of Galicia.
Earlier this year, Forbes ranked Ortega as the fourth richest man in the world, boasting a personal wealth of $71.3 billion. However, much of that wealth fluctuates based on the stock market valuation of his 60 percent majority stake in Inditex.
Inditex, which owns eight retail chains, experienced an 18 percent jump in net profit in the first quarter of 2017, reaching €654 million ($729 million). The company has 7,385 shops in 93 countries, the Financial Times reported on Wednesday.

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Mongolia cuts interest rate by 200 basis points to 12 pct - central bank www.kitco.com

ULAANBAATAR, June 15 (Reuters) - Mongolia has cut benchmark interest rates by 2 percentage points to 12 percent, the country's central bank told Reuters on Thursday.

Mongolia hiked rates by 4.5 percentage points to 15 percent last August in a bid to stabilise its currency, which was in free-fall. It subsequently cut rates by 1 percentage point in December.

The country agreed pm a financial package worth $5.5 billion with the International Monetary Fund last month to help stabilise the Mongolian economy and cut its budget deficit. (Reporting by Terrence Edwards; Editing by Richard Borsuk)

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Korean consortium bids for Australian iron-ore giant Arrium www.mining.com

A consortium of companies including Korean steel juggernaut POSCO has made a bid for Arrium, a major Australian iron ore miner and steelmaker.

Split into two divisions, Arrium runs the steelworks at Whyalla, South Australia, and is also a supplier (to Whyalla) and an exporter of hematite iron ore. It is Australia's only manufacturer of long steel products, with capacity of about 2.5 million tonnes a year. Arrium also has steel operations on the east coast.

But the company was forced into "voluntary administration" in April 2016 with debts of over AUD$4 billion. Voluntary administration is an insolvency procedure whereby the directors of a financially troubled company appoint an external administrator called a "voluntary administrator".

The shutdown affected about 2,500 steelworkers who lost their jobs.

Today, however, it was announced that a consortium headed by Newlake Alliance Management and JB Asset Management and supported by POSCO, has bid on the business that was put up for sale by administrator KordaMentha and its advisers Morgan Stanley. A bid figure was not disclosed. The sale would have to be approved by the creditors committee and the Foreign Investment Review Board.

The consortium outbid rival consortium Liberty Group and Simec.

The Australian opined that it was the greater firepower brought to the table through POSCO, which is the world's fourth largest steelmaker, that sealed the bid.

"The opportunity for the Korean steelmaker is thought to be one where a distribution network is created to distribute its own steel products throughout Australia from out of Korea and make it more competitive with Australian steel making champion BlueScope," Australian Business Review wrote.

POSCO also reportedly is able to produce iron or steel from thermal coal, "which could lower Arrium’s steelmaking costs, and make an acquisition of the loss-making Whyalla a viable proposition," according to an analysis of the deal. A byproduct of the FINEX steelmaking process is natural gas, which could generate up to 250 megawatts, ABC News said.

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