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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Eight billionaires 'as rich as world's poorest half' www.bbc.com

 
The world's eight richest individuals have as much wealth as the 3.6bn people who make up the poorest half of the world, according to Oxfam.
The charity said its figures, which critics have queried, came from improved data, and the gap between rich and poor was "far greater than feared".
Oxfam's report coincides with the start of the World Economic Forum in Davos.
Mark Littlewood, of the Institute of Economic Affairs, said Oxfam should focus instead on ways to boost growth.
"As an 'anti-poverty' charity, Oxfam seems to be strangely preoccupied with the rich," said the director-general of the free market think tank.
For those concerned with "eradicating absolute poverty completely", the focus should be on measures that encourage economic growth, he added.
Ben Southwood, head of research at the Adam Smith Institute, said it was not the wealth of the world's rich that mattered, but the welfare of the world's poor, which was improving every year.
"Each year we are misled by Oxfam's wealth statistics. The data is fine - it comes from Credit Suisse - but the interpretation is not."
'Elite gathering'
The annual event in Davos, a Swiss ski resort, attracts many of the world's top political and business leaders.
Katy Wright, Oxfam's head of global external affairs, said the report helped the charity to "challenge the political and economic elites".
"We're under no illusions that Davos is anything other than a talking shop for the world's elite, but we try and use that focus," she added.
UK economist Gerard Lyons said focusing on extreme wealth "does not always give the full picture" and attention should be paid to "making sure the economic cake is getting bigger".
However, he said Oxfam was right to single out companies that it believed fuelled inequality with business models that were "increasingly focused on delivering ever-higher returns to wealthy owners and top executives".
Oxfam's Ms Wright said economic inequality was fuelling a polarisation in politics, citing Donald Trump's election as US president and the Brexit vote as examples.
'Fair share'
"People are angry and calling out for alternatives. They're feeling left behind because however hard they work they can't share in their country's growth," she said.
The charity is calling for "a more human economy" and is urging governments to crack down on executive pay and tax evasion and impose higher taxes on the wealthy.
It also wants business leaders to pay a "fair share of tax" and has urged companies to pay staff the "living wage", which is higher than the government's National Living Wage.
Oxfam has produced similar reports for the past four years. In 2016 it calculated that the richest 62 people in the world had as much wealth as the poorest half of the global population.
The number had fallen to just eight this year because more accurate data was now available, Oxfam said.
It was still the case that the world's richest 1% had as much wealth as the rest of the world combined, Oxfam said.
Some of the eight richest billionaires have given away tens of billions of dollars. In 2000 Bill Gates and his wife Melinda set up a private foundation that has an endowment of more than $44bn.
In 2015 Mark Zuckerberg and his wife Priscilla Chan pledged to give away 99% of their net worth in their lifetimes, which equated to about $45bn based on the value of Facebook shares at the time.
It takes cash and assets worth $71,600 to get into the top 10%, and $744,396 to be in the top 1%.
Oxfam's report is based on data from Forbes and the annual Credit Suisse Global Wealth datebook, which gives the distribution of global wealth going back to 2000.
The survey uses the value of an individual's assets, mainly property and land, minus debts, to determine what he or she "owns". The data excludes wages or income.
The methodology has been criticised as it means that a student with high debts, but with high future earning potential, for example, would be considered poor under the criteria used.
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Russia could maintain its Reserve Fund with oil at $50 www.rt.com

 
Current oil prices may help Russia avoid running out of reserves this year, Russian Finance Minister Anton Siluanov told reporters on the sidelines of the Gaidar international economic forum on Friday.
 
FedorenkoRussia approves 3-yr federal budget in first reading
"Will we be able to maintain the Reserve Fund if oil prices stay at $50 per barrel,” he said, adding that will bring in around 1 trillion rubles ($16.8 billion) in extra revenue.
 
The oil price at $50 or above will also allow replenishing of the National Welfare Fund in 2017, he added.
 
Siluanov insists that revenue from the non-oil sector should be used to support economic and social development.
 
According to the minister, this year the country’s budget provides for the use of around 1.8 trillion rubles ($30.3 billion) from the Reserve Fund and the Welfare Fund.
 
Siluanov was echoed by Russian Minister of Economic Development Maxim Oreshkin who said the recovery of oil prices would reduce spending from the Reserve Fund.
 
“Considering the oil price growth early this year, we have an excellent opportunity to cut spending from the Reserve Fund and preserve it," said Oreshkin.
 
Russia drew up its 2017 budget using an assumed average crude oil price of $40 per barrel. Brent crude futures were trading at $55.70 as of 14:10 GMT on Friday.
 
In November, the Finance Ministry said it wanted to take 1.15 trillion rubles ($19.3 billion) from the Reserve Fund and 668.2 billion rubles (over $11.2 billion) from the National Wealth Fund to cover the deficit in 2017. It assumed the Reserve Fund will be empty by the end of 2017, while the wealth fund will still have about $64 billion remaining.
 
Statistics showed Russia's Reserve Fund fell to $16.03 billion at the start of 2017 from $50 billion in early 2016.
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IMF warns of persistent vulnerabilities for low income countries in face of low commodity prices www.xinhuanet.com

WASHINGTON (Xinhua) - International Monetary Fund (IMF) on Thursday warned of persistent high vulnerabilities for low income developing countries in face of the low commodity prices.

Low income developing countries have experienced incomplete adjustment to the new world of "lower for long" commodities prices, with many commodity exporters still far from a sustainable macroeconomic trajectory, said the IMF in its latest report.

According to its research, the IMF found that, with the sharp adjustments of commodity prices into its third year, many commodity exporters remained under significant economic stress, with sluggish growth, large fiscal imbalances, and weakened foreign reserve positions.

The average output growth of the fuel exporters dropped to -1.6 percent by 2016 from 5.7 percent in 2014; the non-fuel commodity exporters experienced much milder growth shock with its average growth slowing to 3.8 percent by 2016 from 5.3 percent in 2014; while diversified exporters have mainly benefited from the adjustment of commodity prices, with growth running at 6 percent or above in many countries.

In face of the sluggish growth, two thirds of the commodities exporters were facing high macroeconomic vulnerabilities, said the IMF.

It estimated that more than half of commodities exporters were facing an elevated risk of financial sector stress over the next 18 months, which could result in bank failures and supervisory interventions, and one quarter of low income countries are currently assessed to be at high risk of external debt distress.

IMF called on low income countries to strengthen financial sector supervision, improve fiscal risk management and promote infrastructure investment to increase productivity.

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Copper price jumps as China imports hit all-time high www.mining.com

At the end of November copper hit an 18-month high on the back of optimism about the possible impact of president-elect Donald Trump's $500 billion-plus infrastructure plan on the metal, widely used in construction, manufacturing transportation and power industries.

The price has since come off the boil, official customs data from China, responsible for some 45% of global consumption of the red metal, released overnight is helping the metal attempt these height again.

Copper futures trading on New York Comex added a couple of pennies trading near its day high of $2.6915 per pound ($5,934 a tonne) in lunchtime dealings. Copper is up 5.7% this week toCopper price jumps as China imports hit all-time high a one-month high.

China's refined copper imports surged nearly 30% to 490,000 tonnes in December compared to November, boosting imports for 2016 to a new record of 4.95 million tonnes, up just under 3% compared to the 2015 total.

Concentrate imports soared in 2016, with volumes gaining 28% year on year hitting an all-time high of 16.96 million tonnes for the year. December imports declined only 5% from the monthly record of 1.76 million tonnes in November.

Chinese imports compare to global mined production of an estimated 20.4 million tonnes per year.

After underperforming other metals and steelmaking raw materials for the better part of 2016, copper has been playing catch-up and is now up 40% from six-year lows hit mid-January last year.

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Iron ore price: China imports top 1 billion tonnes for first time www.mining.com

The Northern China import price of 62% Fe content ore declined slightly on Friday, but stayed above the $80 per dry metric tonne level after data showed imports by China, top consumer of the steelmaking raw material, hit an all-time high last year.

Trade figures released overnight showed China imported just under 89 million tonnes of iron ore in December, down 3.2% month on month. The value of imports for December was the highest since September 2014 with the benchmark price averaging just under $80 during the month.

Forging more than half the world's steel, Chinese imports of iron ore for the full year 2016 topped one billion tonnes for the first time. The 1.024 billion tonnes constitute a 7.5% increase over the annual total in 2015 and is indicative to what extent exporters from Brazil and Australia has been able to displace domestic producers struggling with low grades and high costs.

The total value of cargoes climbed to just under $58 billion, with the average import price over the course of 2016 at $56.50 per tonne. The all-time record in terms of dollar value was set in January 2014, when the country imported $11.3 billion worth of iron ore back when prices were firmly in triple digit territory.

The all-time record for monthly Chinese imports in terms of volume was in December 2015 with shipments totalling 96.3 million tonnes. But the price of iron ore fell to below $40 a tonne, the lowest in nearly a decade during that month, pushing the value of shipments below $5 billion.

The iron ore price has doubled in value over the past year following near-decade lows of $37 a tonne in December last year according to data supplied by The Steel Index.

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Russian Food Sanctions May Not Be Extended – Deputy Prime Minister www.themoscowtimes.com

Russia’s embargo against Western food imports may come to an end in the near future, according to Russia’s deputy prime minister.

The news comes after warming relations with the West following Donald Trump’s victory in the U.S. presidential elections.

“The time has probably come to understand that the sanctions may soon be halted,” Deputy Prime Minister Igor Shuvalov said today at the Gaidar Forum, an economic conference held in Moscow.

However, this change will not come immediately. Legally, the sanctions end on December 31, 2017, and Shuvalov did not exclude the possibility that they could be further extended.

Still, his words give hope to Russians longing for the taste of Italian parmesan or Polish apples – both of which disappeared from supermarket shelves after the embargo’s imposition.

“All players on the market should be prepared for [the sanctions’ cancellation],” Shuvalov said. “Whether they’ll be extended or not – that’s a question of politics.”

In August 2014, Russian authorities imposed sanctions against food products produced in the European Union, the United States, and several other Western countries. The embargo came as a response to Western sanctions on Russia for annexing the Crimean peninsula and intervening in eastern Ukraine.

The sanctions led the authorities to summarily bulldoze and otherwise destroy pallets of food products deemed illegal under the embargo. It also contributed to a rapid decrease in the quality and safety of food sold in Russian supermarkets.

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Japanese diplomats to discuss business in Africa www.nhk.or.jp

Japanese diplomats working in Africa will meet to discuss ways to help Japanese businesses procure natural resources from the resource-rich continent.

Representatives from the Japanese embassies in 20 African countries will gather on Tuesday and Wednesday in Pretoria, the capital of South Africa. The Foreign Ministry says the meeting will be the first of its kind.

The participants will discuss what specific assistance they can extend to Japanese firms trying to do business in Africa.

Some African countries are politically unstable and tensions often exist between ethnic groups in those countries. Thus, building ties with influential government figures is deemed crucial for firms wishing to operate on the continent.
The Japanese diplomatic missions have long been reluctant to directly support private firms.

Japan is now lagging behind China in securing drilling rights for oil and mineral resources in Africa. Last year, China acquired the rights for large-scale copper and cobalt mines in the Democratic Republic of Congo.

The Chinese government is known to be working aggressively to acquire such rights in Africa by working jointly with the private sector.

Ministry officials say Japan's advanced technology and investment, when aligned with the needs of African countries, will generate meaningful results for all the parties.

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Shenzhen to build overseas industrial innovation centers www.chinadaily.com

 

Shenzhen will accelerate the construction of a number of overseas and industrial innovation centers this year as part of its efforts to ramp up innovation-driven economic growth.

The city in southern Guangdong province plans to build 10 overseas innovation centers in countries and regions where there are abundant resources - such as the US, Canada and Europe - to absorb and make use of the innovative skilled staff located there.

Shenzhen Mayor Xu Qin mapped out the initiative in his government work report on Friday, when the Shenzhen people's congress kicked off.

"We will formulate special plans to support enterprises and organizations, to set up 10 innovation centers overseas to create an international collaborative innovation platform and gather innovative talent from across the world," Xu said, adding that the first four will start construction this year.

"To implement the action plans of Internet Plus and 'Made in China 2025', we also plan to build 10 manufacturing innovation centers in such areas as robotics, 3D printing and new energy vehicles to enhance our capability in high-end, precise and smart manufacturing," Xu added.

Known as the country's innovation hub, Shenzhen has been taking the lead in China in pursuing an innovation-driven economic development model.

Investment in research and development by the city amounted to more than 80 billion yuan ($11.6 billion) last year, accounting for 4.1 percent of its total gross domestic product. The number of its national high-tech companies increased by 2,513 in 2016, triple the growth a year earlier, to 8,037.

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Chelsea given planning permission for new 60,000-seater stadium www.itv.com

Chelsea have been given the green light to build a new 60,000-seater stadium at Stamford Bridge after winning planning approval for the project.
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The club's hopes of redeveloping their current home received a boost on Wednesday evening when Hammersmith and Fulham Council's planning and development control committee voted unanimously in favour of the scheme.
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A statement on the club's official website, said:
More than a year ago, a planning application for a new stadium at Stamford Bridge with an expanded seating capacity was submitted to our local council, Hammersmith & Fulham.

Over the past 12 months, we have consulted widely with neighbouring residents, local businesses, statutory authorities and continued to work closely with the council.

The council's planning committee considered the application and we are grateful that planning permission was granted for the redevelopment of our historic home.

The committee decision does not mean that work can begin on site. This is just the latest step, although a significant one, that we have to take before we can commence work, including obtaining various other permissions.

The estimated £500million cost of the work would be funded by club owner Roman Abramovich, although there is still some way to go before it can begin.

Chelsea will still need full planning consent, which they hope to achieve by working closely with council officers, and to complete the detailed design of the stadium and finalise logistical plans for the site and the surrounding area.

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50 percent of waste could be recycled www.gogo.mn


There are 357 authorized landfill sites in rural areas. However, only 68 of the landfills bury waste under layers of soil.
As of 2015, total 2.3 million tons of waste were taken to 371 landfills. 
50 percent of waste could be recycled. However, less than 1 percent of total waste are being reused, recycled and exported throughout Mongolia. 
Thus, Ministry of Environment and Tourism is working to approve the amended law on waste by State Great Khural. 
The amended law on waste will regulate not only regular waste but also radioactive and hazardous waste of the country, which is estimated to be around 29-58 thousand tons per year.
 
 
 
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