1 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      2 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      3 AIRBNB IS USING WHAT3WORDS TO LIST STAYS WITH MONGOLIAN NOMADS WWW.TECHCRUNCH.COM PUBLISHED:2018/11/20      4 LOCAL PRECIOUS METAL ASSAY LABORATORY PURIFIES 99 KG OF GOLD WWW.MONTSAME.MN PUBLISHED:2018/11/20      5 LEGISLATOR OF MONGOLIA'S RULING PARTY SUBMITS PROPOSAL ON DISMISSING GOVERNMENT WWW.XINHUANET.COM PUBLISHED:2018/11/20      6 SHOCK DECISION: CHINA CLOSES BORDER TO COAL IMPORTS FROM MONGOLIA WWW.NEWS.MN PUBLISHED:2018/11/20      7 STRATEGY INTRODUCED TO FOSTER PRIVATE SECTOR IN WESTERN MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      8 MONGOLIA TO STRENGTHEN ECONOMIC TIES WITH RUSSIA WWW.XINHUANET.COM PUBLISHED:2018/11/19      9 VOLKSWAGEN TO SPEND $50 BILLION ON ELECTRIC CAR 'OFFENSIVE' WWW.CNN.COM PUBLISHED:2018/11/19      10 HABITABILITY OF MONGOLIA UNDER THREAT FROM CLIMATE CHANGE WWW.ADELAIDENOW.COM.AU PUBLISHED:2018/11/19      ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20     ХАЙНАНЬД ЗУГААЛАХ ГЭСЭН МОНГОЛЧУУД УЛААН-ҮҮДЭЭС НИСЭХ ТАСАЛБАРЫГ ХУУ ХАМЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/20     ГАШУУНСУХАЙТ БООМТ: ЖОЛООЧ НАРЫН МЭДЭЭЛЛИЙГ УРЬДЧИЛАН ЯВУУЛАХ БАЙДЛААР АСУУДЛЫГ ШИЙДВЭРЛЭХЭЭР БНХАУ-ТАЙ ТОХИРОЛЦЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     ЗАМЫН НӨХӨӨС, 100 ГАРУЙ ТӨРЛИЙН РЕЗИНЭН БҮТЭЭГДЭХҮҮН ДОТООДОД ҮЙЛДВЭРЛЭЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20     АЛТНЫ ОЛБОРЛОЛТ ЭДИЙН ЗАСГИЙГ ДЭМЖИЖ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛЫН АНХНЫ ХУВИЙН ХӨРӨНГИЙН БИРЖИЙН ХОЁР ДАХЬ БҮТЭЭГДЭХҮҮН: “ПАРК ТАУН” БОНД WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛ, ОХУ-ЫН ТЭЭВРИЙН САЛБАРЫН ХАМТЫН АЖИЛЛАГААГ ӨРГӨЖҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/20     БНХАУ-ЫН ОЛОН УЛСЫН ИМПОРТЫН ҮЗЭСГЭЛЭН БНХАУ-ОХУ-ЫН БИЗНЕСИЙН ХАРИЛЦААГ ӨРГӨЖҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/19     АМЧАМ МОНГОЛ 2018 ОНЫ ЖИЛИЙН ТАЙЛАНГИЙН ХУРЛАА АМЖИЛТТАЙ ЗОХИОН БАЙГУУЛЛАА WWW.IKON.MN НИЙТЭЛСЭН:2018/11/19    

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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EU hits China with new 'anti-dumping' duties on steel imports, Beijing pledges retaliation www.rt.com

 
The European Commission has hiked 'anti-dumping' duties on imports of hot-rolled flat steel products from China already in place. The decision has angered Beijing, which has promised to respond.
 
The duties on the Chinese steel products have been increased to 22.6 percent from 13.2 percent following a complaint from EU producers ArcelorMittal, Tata Steel and ThyssenKrupp.
 
According to the European producers, China sells steel at a loss due to overcapacity.
At the beginning of 2016, China pledged to cut 150 million tons of annual production capacity over the next five years. However, capacity rose last year.
 
Beijing has said steel overcapacity is not only a Chinese concern but a global one.
The Commission said a similar investigation into Brazil, Iran, Russia, Serbia, and Ukraine is still in process and would continue for six months.
 
"The decision not to impose provisional measures for imports from Brazil, Iran, Russia, Serbia and Ukraine does not prejudge the final outcome of that investigation," a Commission spokesman said, as quoted by Reuters.
 
China has responded angrily to the decision. The Ministry of Commerce said it came from "unfair, unreasonable" use of the 'surrogate country' prices references method.
 
When China joined the World Trade Organization in 2001, it agreed to let WTO members treat it as a non-market economy when assessing dumping duties for 15 years. The surrogate is a market economy country that is at a level of economic development comparable to that of the non-market economy country.
 
The clause expired on December 11 last year but is still being used when assessing Chinese steel exports, according to Beijing.
 
"The Chinese side urges the EU to fully carry out its treaty obligations under the WTO, stop using the 'surrogate country' method, and treat Chinese companies fairly, justly and without discrimination," said Wang Hejun of the Chinese Ministry of Commerce, Trade Remedy and Investigation Bureau in a statement.
 
Brussels' decision was based merely on accusations and speculation, said Wang.
 
"China urges the European side to correct such a mistake as soon as possible," he said. The Chinese government will take "necessary measures" to protect the legitimate interests of "seriously" hurt domestic firms, Wang warned.
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Iran & Hungary to develop nuclear plant for 'scientific-educational' purposes www.rt.com

Hungary and Iran have agreed to cooperate in a joint mini nuclear power plant project. The countries will create a small nuclear reactor for scientific and educational purposes, said a Hungarian official on Thursday.
 
Prime Minister Viktor Orban's chief of staff Janos Lazar was asked if the project would comply with the nuclear deal between Tehran and the six leading world powers.
 
"When the Prime Minister was there, we undertook to take part in jointly creating a mini nuclear plant with educational, scientific purposes, and now this agreement will be implemented," Lazar said, referring to Orban’s visit to Iran in 2015.
 
In February 2016, Iran's top nuclear official Ali Akbar Salehi said the country had proposed a pilot project with Hungary to design a 25-megawatt reactor and then a reactor of up to 100 megawatts to be sold in Africa and Asia.
 
According to him, the reactor would fit the poorer countries in the region, as it requires less cooling water.
 
"One particular project that I suggested was to see if we can... together design a small reactor of 25 megawatts. It was received well, and we hope that we can start this project, just on paper,” Salehi said, as quoted by Reuters.
 
Iran and the six international mediators (the US, UK, France, Germany, Russia and China) signed a deal in July 2015 to settle the standoff over Iran's nuclear program.
 
According to the accord, Tehran agreed to cut the number of centrifuges by two-thirds, cap its uranium enrichment below the level needed for bomb-grade material, reduce its enriched uranium stockpile from around 10,000 kilograms to 300 for 15 years, and allow international inspectors to access its nuclear facilities. In return, Western countries agreed to lift nuclear-related international sanctions.
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Mongolia and UN bound by Statement of Cooperation for disaster risk reduction www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Session of the ISDR Asian Partnership (IAP) Meeting is kicking off today in Ulaanbaatar. It is being organized by the Government of Mongolia, the National Emergency Management Agency (NEMA) and the United Nations International Strategy For Disaster Reduction (UNISDR).
 
Deputy Prime Minister U.Khurelsukh received Mr Robert Glasser, Special Representative of the UN Secretary General for Disaster Risk Reduction, who is visiting Mongolia to take part in the ISDR Asian Partnership Meeting in Ulaanbaatar.
 
During the meeting, the dignitaries signed the Statement of Cooperation on organization of the UNISDR Asian Ministerial Conference, to take place in Ulaanbaatar in 2018.
 
The main purpose of our cooperation, according to the Statement, is forwarding the mobilization of Sendai Framework on Disaster Risk Reduction in Asian region and improving collaboration within the region and between governments on sophisticating the monitoring and evaluation system, underlined the Deputy Premier.
 
Mr Glasser said, while highlighting that the ISDR Asian Ministerial Conference is by-far the most prestigious regional event in the field of disaster risk reduction, that Mongolia is recognized for its commitment to diminishing risks of emergencies.
 
He pledged to collaborate with Mongolia in reducing disaster risks by all means.
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First discussion of bill on budget amendments runs www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Today, the Parliament started to discuss bill on 2017 budget amendments. Finance Minister B.Choijilsuren made an introduction on the bill, noting that the draft had been developed within the framework of International Monetary Fund's Extended Fund Facility program, making resolute changes.
 
To implement the IMF program, the Mongolian government has agreed to make three arrangements, including the budget adjustment to increase some tax rates and reduce budget expenditure. The IMF will provide USD440 million and other international partners - USD3 billion.
In response to questions Finance Minister said “USD400 million from the IMF will be spent for increasing reserve of the Bank of Mongolia. The rest will be allocated for removing budget deficit during 2017-2019. The number of public officers was around 142 thousand in 2012, which later grew to 180 thousand. But it is not proper to cut the number, making many people jobless. Therefore, we agreed with the IMF not to hire new employees in state and public services in the position of retired ones. Only some services, including medical, educational and emergency can take on one new employee in place of two retired employees”.
 
MP S.Erdene expressed position of democratic party group the in the parliament that a large amount of loan should not be lent from the IMF and tax rates should not be raised, reminding the Mongolian People's Party members about the party’s promise to raise pensions and salaries and not to increase tax rates.
 
Some MPs also expressed their positions against raising the retirement age, saying that the retirement age should be voluntarily chosen. Minister B.Choijilsuren explained “- Raising retirement age and social insurance contribution rate have become inevitable. Pension fund needs subsidies of MNT587.3 billion this year and it will grow to MNT2.3 trillion further. Therefore policy change must be made as the fund has so much deficit”.
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Discussion on environmental management and planning held www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 5, within the framework of cooperation between Ulaanbaatar City Administration and the Asia Foundation, a discussion under the theme "Environmental management and planning issues in connection with mining activities near Ulaanbaatar city” was held.
 
At the beginning of the discussion, Meloney C.Lindberg, Asia Foundation's Country Representative in Mongolia mentioned that the Asia Foundation has established a memorandum with the Ulaanbaatar City Administration. In this scope, the Asia Foundation agreed to give support and assistance regarding issues on ongoing mining activities near the capital.
 
During the meeting, participants discussed ways to solve pressing issues and challenges and the sides agreed to continue to cooperate with all corresponding parties of public and private sectors and civil society on land rehabilitation.
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Cyclone damage causes BHP to declare force majeure in Australia www.mining.com

 
World’s largest miner BHP Billiton (ASX:BHP) said on Wednesday it won't meet its coal export commitments due to the damage caused by a cyclone that struck Australia’s north-east coast last week.
 
Damage to rail lines in cyclone-hit Queensland have disrupted the shipment of between 15 million and 20 million tonnes of coking coal destined to Asia.
The company, which is also the world's biggest shipper of steelmaking coal, said force majeure has been declared for all coal products from its joint ventures with Mitsubishi Corp. and Mitsui & Co.
 
"BHP Billiton continues to assess haulage options to manage access from mine sites to ports and shipments to customers," it said in the statement.
 
Aurizon Holdings, Australia's top rail freight operator, was forced to close some key routes between inland mines and export terminals to repair the damage caused by cyclone Debbie. Earlier this week, Aurizon said it could take more than a month to get some of those critical lines running again.
 
Queensland accounts for more than 50%of global seaborne coking coal supplies, so problems in the area have caused prices to climb about 9% on expectations that supply will remain disrupted for weeks. Analysts at Standard & Poor estimated this could mean between 15 million and 20 million tonnes of coking coal supply could be eliminated from global markets.
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Boundaries of Gatsuurt gold deposit set at 3025 hectares www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting held on April 4, the Cabinet made a decision on setting the gold deposit area of Gatsuurt to be 3025 hectares. In doing so, geological formation, mineralization, exploration criteria, metallized area and areas where mining construction could be made were taken into account.
 
In compliance with an order of the Minister of Mining and Heavy Industry, a working group was assigned to determine the boundaries for two mineral deposits from among 16 deposits of strategic importance, Erdenetiin Ovoo copper and molybdenum deposit and Gatsuurt gold deposit, working on site in March.
 
Special license for utilization of Gatsuurt gold deposit is owned by Centerra Gold LLC and 50 tons of proven, actual and potential gold reserves are registered to the state registration database. The Gatsuurt deposit is located in Mandal soum of Selenge aimag, 180 km from Ulaanbaatar and 45 km from the Boroo gold deposit.
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Foreign Minister pays visit to Vietnam www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 2-4, Minister of Foreign Affairs of Mongolia Ts.Munkh-Orgil paid an official visit to the Socialist Republic of Vietnam at the invitation of Deputy Prime Minister of Vietnam and Minister of Foreign Affairs Phạm Bình Minh.
 
Foreign Minister Ts.Munkh-Orgil met with Nguyễn Xuân Phúc, Prime Minister of Vietnam and Deputy Prime Minister and Minister of Foreign Affairs Phạm Bình Minh and held official talks. The Foreign minister noted that Mongolia gives great importance to stimulating traditional friendly relations of Mongolia and Vietnam and exchanged views on measures to carry out this year, such as official visit of Vietnamese Vice President to Mongolia and a meeting of intergovernmental commission.
 
Also, the two sides discussed the participation of the Mongolian Prime Minister in the APEC Summit to be held in November in Danang, Vietnam. Afterwards, they agreed to support cooperation among law enforcement bodies, including Ministries of Defense, and National Security Councils through deepening ties between the foreign ministries and strengthening legal frameworks.
 
In addition, Foreign Minister Ts.Munkh-Orgil met with the Vietnamese Minister of Industry and Trade Minister of Agriculture and Rural Development and Head of Vietnamese group of Mongolia-Vietnam Intergovernmental commission to exchange opinions on issues regarding trade, investment and economic relations of Vietnam and Mongolia.
 
At the meetings, the Mongolian sides its willingness to learn from Vietnamese experience on the negotiations on establishing free trade agreements as well as its role in the regional integration and the Mongolian and Vietnamese sides agreed to cooperate in this regard.
 
In the scope of preparation of meat and meat products' exports from Mongolia to Vietnam, Mongolian Foreign Minister Ts.Munkh-Orgil and Vietnamese Minister of Agriculture and Rural Development Nguyen Suan Gyöng signed Memorandum of Understanding on cooperation in veterinary inspection and quarantines between the General Authority of Specialized Inspection of Mongolia and Ministry of Agriculture and Rural Development of the Socialist Republic of Vietnam.
 
Furthermore, the dignitaries talked about ways to increase trade turnover between the two countries, export agricultural products, such as hides, wool and cashmere products to Vietnam and import fruits, coffees and sea products from Vietnam to Mongolia, reports the Ministry of Foreign Affairs of Mongolia.
 
The two sides also discussed to broaden cooperation in all spheres, including tourism, mining, mineral, culture, education, sports and science through promoting partnership of the private sectors of Mongolia and Vietnam. The Vietnamese side confirmed its willingness to cooperate with Mongolia in areas of banking and finance, roads and transportation, energy supply and oil exploration and extraction. In conclusion, the latter expressed its willingness to assist Mongolia to join the Asia-Pacific Integration, by noting that Mongolia and Vietnam have great possibilities to work together in the both regional and international fora.
 
 
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Bezos is selling $1 billion of Amazon stock a year to fund rocket venture www.reuters.com

 
Amazon.com Chief Executive Jeff Bezos said on Wednesday he is selling about $1 billion worth of Amazon stock per year to fund his Blue Origin rocket company, and expects to spend about $2.5 billion developing a rocket capable of lifting satellites and eventually people into orbit.
 
Blue Origin is aiming to launch paying passengers on 11-minute suborbital space rides next year, Bezos told reporters at the U.S. Space Symposium here.
 
 
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Monsanto sees almost 30% profit jump www.rt.com

 
US seed and agrochemicals company Monsanto has reported better-than-expected second quarter earnings, helped by strong demand for its soybean and corn seeds.
 
Net income for the quarter ending February 28 jumped 28.7 percent to $1.4 billion.
 
The company posted earnings of $3.19 per share, topping analysts' average estimate of $2.79 per share. Sales rose to $5.07 billion from $4.53 billion a year earlier.
 
"The company's performance was driven in part by strong gross profit growth from its corn and soybean businesses, the absence of the Argentine peso devaluation and benefit from the sale of its Latitude wheat fungicide business," Monsanto said.
 
The company’s CEO Hugh Grant said “We are delighted to have delivered such an excellent first half and strong second quarter, in the face of what is still a tough macro economy for agriculture.”
 
Sales of corn seed and traits rose eight percent, while sales of soybean seeds and traits jumped 10.2 percent.
 
The total corn, soybean and cotton acreage in the US is projected to be 2.2 percent higher in 2017, which is positive for Monsanto; analyst at Susquehanna Financial Group, Don Carson told Bloomberg.
 
Monsanto is the subject of a $66 billion takeover bid by German pharmaceuticals giant Bayer, expects full-year profits to be also higher.
 
Last year, Bayer agreed to buy the American company for $128 a share. If approved by regulators, the acquisition will make Bayer the world’s biggest seed and pesticide producer. Monsanto said it expects completion of the merger with Bayer by the end of the year.
 
As one of the world’s leading manufacturers of genetically modified seeds, Monsanto is regularly accused of facilitating the production of GM foods.
 
The company’s technologies allow the production of large quantities of food for a relatively low cost. Monsanto says the technique allows farmers in poorer countries nations to have better harvests. However, many pro-organic consumers argue these crops carry significant health and environmental risks.
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