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

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South Korea's Lotte says 4 retail stores in China closed amid political tension www.reuters.com

South Korea's Lotte Group said on Monday four of its retail stores in China were closed after inspections by authorities, as Seoul protests at discriminating action by China after Lotte agreed to provide land for a U.S. missile defense system.

China is the biggest overseas market for Lotte Group, South Korea's No.5 conglomerate, generating annual sales of a little more than 3 trillion Korean won ($2.60 billion) in 2015.

A Lotte Mart spokesman said the four stores, in Dandong, Changzhou and two other locations, were closed last week after the inspections, but could not provide further details. Lotte Mart had about 115 stores in China by January.

The retail closures came after affiliate Lotte International Co Ltd approved a South Korean land swap last week to allow the U.S. Terminal High Altitude Area Defense (THAAD) system, which is being installed in response to North Korea's missile threat.

South Korea's military said earlier on Monday North Korea fired "multiple ballistic missiles" from its Tongchang-ri region, where a missile base is located.

South Korea's acting president Hwang Kyo-ahn said on Monday Seoul should swiftly complete the THAAD deployment after the launch of the missiles.

China has objected to the deployment of the missile system, saying it has a radar capable of penetrating Chinese territory.

Shares in Lotte Shopping (023530.KS), of which Lotte Mart is a business division, fell 2 percent by 0155 GMT, compared with a 0.2 percent drop in the wider market .KS11.

Lotte's duty free operator, Lotte Duty Free, said on Thursday a cyber attack using Chinese internet protocol (IP) addresses had crashed its website. It is currently back online.

FEARS OF CANCELLATIONS

China's tourism ministry instructed tour operators in Beijing on Thursday to stop selling trips to South Korea from March 15, with the order spreading to other regions across the mainland, an official at Korea Tourism Organization said on Monday.

The order came days after the Lotte land swap.

A Chinese company abruptly canceled its plan to send some 5,000 employees to South Korea's Incheon city in April, the official said, adding that there were concerns about more cancellations by group tourists.

Shares of tourism, cosmetics, and airline firms extended losses on Monday, although the declines were not as severe as those on Friday.

On Friday, China canceled its invitation for South Korea Trade Minister Joo Hyung-hwan to its annual Boao forum, the ministry said on Monday. The forum's office cited a lack of panels for a session to which Joo was invited, the ministry said, without elaborating further.

On Sunday, Joo expressed "deep concerns over a series of actions in China" and protested against discriminating action by China towards South Korean companies.

"We will act accordingly to international law against any actions that violate policies of the World Trade Organization (WTO) or the free trade agreement between South Korea and China," he said

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Mongolia Mining Forum held in Canada www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolian delegation of 40 people is participating in the 2017 International Convention, Trade Show & Investors Exchange hosted by the Prospectors & Developers Association of Canada (PDAC) in Toronto, Canada on March 5-8.

The delegation is made of representatives of Government of Mongolia and state-owned companies.

On the first day of the convention, March 5, Mongolian Ministry of Mining and Heavy Industry in cooperation with Mongolian and foreign-invested exploration and mining companies hosted a Mongolia Mining Forum at PDAC. The forum was themed ‘Mongolia for Stability’, and aimed to provide investors and the international mining community with timely information on Mongolia’s current investment environment and mining industry.

The forum discussed Mongolia’s mining potentials, recent government actions to increase investment in mining sector and improve Mongolia’s competitiveness, and new exploration discoveries and upcoming investment opportunities.

Mongolia-Canada bilateral meetings also took place.

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China to cut steel capacity by 50 mln tonnes, coal by 150 mln tonnes www.xinhua.net

BEIJING, March 5 (Xinhua) -- China will push its drive to cut overcapacity in bloated sectors, with targets to slash steel production capacity by around 50 million tonnes and coal by at least 150 million tonnes this year, according to a government work report available to the media Sunday morning ahead of the annual parliamentary session.

The report pledged to make more use of market- and law-based methods to effectively deal with "zombie enterprises."

China eliminated steel production capacity by more than 65 million tonnes and coal by over 290 million tonnes last year, both beating government annual targets.

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Chinese coal draw-down gathers pace www.mining.com

Coal continues to be the sector in the cross-hairs of Chinese plans to shift its energy mix away from fossil fuels and into cleaner renewables.

In his annual report delivered Sunday, Premier Li Keqiang said the country would do away with over 50 gigawatts of coal-power capacity – an amount equivalent to over the entire capacity of South Africa – through new measures to wean itself off coal, MarketWatch reported.

The Chinese leader also said China would cut 150 million tonnes of coal capacity this year, about half of the 290 million tonnes cut in 2016.

China may also soon reinstate coal production curbs in an effort to avoid the return of an oversupply and improve the profitability of its heavily indebted coal industry. The curbs would come in the form of limiting mines' operations to 276 days a year, from the current 330 days.

Coal, particularly the steelmaking kind, rocketed last year after Beijing introduced production restrictions.

Meanwhile China's coal consumption dropped in 2016 for a third year in a row, official data showed last Tuesday, as the world's top consumer and producer of the fossil fuel continued tightening environmental rules aimed at dealing with pollution.

Beijing has made public its intention of modernizing its coal-fired power plants by 2020 in an effort to cut “polluting” emissions by 60%. The government also aims to add over 20 million kilowatts of installed wind power and more than 15 million kilowatts of installed photovoltaic power by the end of the decade.

Coal accounted for 62% of the nation’s energy mix last year, down from 64% in 2015, and it is expected to fall further under the current five-year plan of capping it at 55% by 2020, the National Bureau of Statistics said.

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Indian iron ore shipments up 169% www.mining.com

The amount of iron ore handled by India's ports has more than doubled in the period between April 2016 and January 2017.

In a recent report by the Indian Ports Association, quoted by Economic Times, the country's 12 major ports handled 169% more iron ore cargo – a total of 38.61 million tonnes – in the April to January period compared to the same period the year previously, when just 14.37 million tonnes crossed the nation's docks.

The increase in tonnage can partially be explained by a resumption in production from India's top iron exporting state of Goa in the summer of 2015, led by Vedanta Resources (LON:VED), after an almost three-year hiatus.

Iron ore output contracted 9.4% every year between 2012 and 2016 following mining bans in Goa, Odisha and Karnataka, Economic Times points out. Those bans are no longer in place, meaning analysts are bullish on Indian iron ore production.

BMI Research said last month it projects output to increase to 185 MT in the next four years, from 136 MT in 2017.

The boost is not only due to the spike in the iron ore price, which reached a 30-month high on Feb. 20, but also a surge in global steel production.

World Steel Association data released in February showed a 7% jump in global steel output in January to 136.5 million tonnes.

World number three steel producer India recorded the biggest gain of the major producing countries, with output increasing by 12% year-on-year. India's infrastructure push should keep blast furnaces on the subcontinent humming throughout this.

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Deutsche Bank to raise billions with rights issue www.bbc.com

Deutsche Bank plans to raise about 8bn euros (£6.9bn, $8.5bn) by issuing new shares.
The share sale by the troubled German bank is part of a wider shake-up.
The bank will partially float its asset management business and retain Postbank - the retail banking business it had been expected to sell.
Deutsche will be reorganised around three divisions: private banking and wealth management; asset management; and corporate and investment banking.
Germany's biggest bank is trying to reshape itself after grappling with huge losses and a 15bn euro legal bill imposed by regulators since 2012.
In December, Deutsche Bank said it had agreed a $7.2bn (£5.9bn) payment to US authorities to settle an investigation into mortgage-backed securities.
Promotions
The sale of residential mortgage-backed securities played a significant role in triggering the 2008 financial crisis.
The rights issue will be launched on 20 March in a bid to repair its balance sheet.

Peter Hahn at the London Institute of Banking and Finance said it was the first capital raising from Deutsche since it had drawn a line under many of its legacy issues.
"The atmosphere for banks has got much more positive in the last several months," Mr Hahn told the BBC. Deutsche Bank shares have risen 44% in the last six months, for example.
But there were still question marks over whether its investors would "put money in one more time", he said.
Deutsche will also promote chief finance officer Marcus Schenck and retail banking boss Christian Sewing to become co-deputy chief executives under chief executive John Cryan.
Mr Schenck will also become co-head of the investment bank alongside Garth Ritchie, who runs the bank's bond and equities trading activities.
Jeffrey Urwin, head of corporate and investment banking, will step down, and a new chief finance officer will be sought.
Deutsche aims to cut costs from 24.1bn euros to 22bn euros by 2018, as well as resume paying a "competitive dividend" to shareholders.

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Study tour and business program to Tel Aviv and Jerusalem, Israel on "Start up and business ecosystem development: Best practices"

Mongolian Business Database (MBD) www.mongolianbusinessdatabase.com and ConSolWays, Israeli-Mongolian consultation, Solution and business development firm are hosting a Mongolian trade mission to Tel Aviv and Jerusalem, Israel for 4 days study visit and business program on "Start up and business ecosystem development: Best practices" between March 25-31.2017.

The study visit program includes the business subjects on Agriculture (Green houses, agriculture export ecosystem) , IT Sector ( international accelerators) , health, communication, banking security, fintec and visits to other related institutions.

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 15, 2017

http://www.mongolianbusinessdatabase.com/base/eventsdetails?id=5 

 

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World’s largest new diamond mine begins commercial production www.mining.com

Canada's Gahcho Kué mine, the world’s largest new diamond mine in the last 13 years, reached commercial production Tuesday, its owners De Beers Canada and Mountain Province Diamonds announced.

Located 280 kilometers northeast of Yellowknife, near the Arctic Circle, the mine is expected to produce around 54 million carats of rough diamonds over its 12-year lifetime.

Gahcho Kué was only the sixth diamond opened in Canada in the almost 19 years the country has been producing such gems.
Production ramp-up at Gahcho Kué, a joint venture between De Beers Canada (51%) and Mountain Province Diamonds (49%), began in August — a month before the mine’s official opening.

Thursday’s announcement marks an important operational milestone and also comes slightly ahead of schedule, the partners said in a joint statement.

"Today marks a significant landmark for De Beers in Canada as Gahcho Kué becomes an important contributor to the group's global production," De Beers Group CEO Bruce Cleaver said in the statement.

The mine "secures Canada's position as one of the world's leading diamond producers," added Patrick Evans, President and CEO of Mountain Province Diamonds.

It’s estimated that Gahcho Kué will contribute $5.2 billion to the territorial economy until 2028, according to a socio-economic impact report prepared by De Beers.

Another reason why the mine's opening is important for Canada’s economy is the fact that two of the country's major diamond operations — Diavik and Ekati — are approaching the end of their productive lives. Gahcho Kué, although smaller than those mines, is expected to offset the production drop-off.

The mine, estimated to be one of the world’s 10 biggest diamond mines, is the sixth precious rocks operation opened in Canada in the almost 19 years the country has been producing diamonds.

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92.885 herders to receive incentive for wool supply www.montsame.mn

Ulaanbaatar /MONTSAME/ Members of herder cooperatives and citizens with livestock receive monetary incentives for wool of sheep and camel, if they supply the raw materials to national factories, according to a Parliamentary resolution of 2011 and Government resolution of 2015.

A total of 92.885 herders and legal bodies with livestock in 21 provinces and Ulaanbaatar submitted their requests to get incentive for 20.599 tons of wool to Livestock Protection Fund under the Ministry of Food, Agriculture and Light Industry.

Incentives of MNT22.6 billion have been transferred to herders’ bank accounts through Bank of Mongolia, after checking the data.

‘Legal environment to give incentives to livestock origin raw materials was created when the Parliament approved resolution No.30 on “Some measures to support national producers and increase jobs” in 2011. This action has brought many positive results. For example, a mechanism to supply wool to national processing factories has been developed, factories get to have sufficient raw materials and production of value-added wool products has been increased. And new processing factories of wool washing, wool thread, felt, insulation material for construction have been established” said director of Livestock protection fund B.Ganzorig.

The incentive amount of this year has increased by MNT3.3billion compared to last year’s. 413 thousand herders have received incentives of MNT112.7 billion for 71 thousand tons of wool since 2011.

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Bank of Mongolia issues main indicators www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Current and Capital account balance totaled to USD 2.4 million deficit which is USD 49.5 million decline compared to the same period of the previous year. The change was due to decrease by USD 43.9 million in goods and services account creating surplus of USD 19.4 million, and decrease by USD 5 million in income account creating deficit of USD 41.3 million.
 
Financial account had a surplus of USD 97.3 million which is declined by USD 303.3 million compared to the same period of the last year. According to the interpretation of 6thedition of Balance of Payments manual, Mongolia has a net borrowing during this period.
 
As of the first month of 2017, overall balance of payment deficit was USD 175.9 million, net error and omissions was -USD 76.2 million.
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