1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     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    

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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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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Major Japanese retailers to embrace bitcoin payments www.rt.com

 
A few days after Japan recognized bitcoin as a legal method of payment, two of the country’s biggest retailers have sealed cooperation agreements with bitcoin exchanges to begin accepting the digital currency.
 
The two leading retail groups, Bic Camera and Recruit Lifestyle, have announced trials of a bitcoin payment option, according to Japanese daily Nikkei.
 
Bic Camera, a consumer chain selling electronics, has partnered with the Tokyo-based bitcoin exchange bitFlyer. The retailer will test the digital currency in two outlets.
 
Consumers will be able to pay up to 100,000 yen ($900) using bitcoin, getting reward points at the same rate as for cash payments.
 
Recruit Lifestyle, the retail branch of human resources conglomerate Recruit Holdings, is cooperating with another Tokyo bitcoin exchange operator Coincheck to include bitcoin payment option into its AirRegi application.
 
The step will enable over 260,000 outlets across the country to start accepting bitcoin. Coincheck will process payments made by consumers using the app, converting bitcoins into yen and transferring the funds to the store.
 
Japan is poised to become one of the leading cryptocurrency markets. Nearly 4,500 Japanese stores are currently accepting bitcoin while over 700,000 outlets actively use other modes of digital payments.
 
The legislation giving digital currencies legal status as a payment method came into force last week, offering bitcoin an opportunity to be accepted in over a quarter of a million stores and retail locations. Starting in July, purchases using a virtual currency will be exempt from the consumption tax.
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Steve Potter: We remain committed to Mongolia and mining industry www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ “I would probably describe the current situation as cautious optimism”, remarked Steve Potter, Executive Director of Wagner Asia Equipment LLC, the official distributor of Caterpillar Inc in Mongolia during the opening ceremony of Mongolia Mining 2017 international mining expo on April 5.
 
He was talking about Mongolia' mining sector on which the company’s business is mostly dependent on. Wagner Asia Equipment LLC has been in Mongolia for the last 21 years. “It’s been a bumpy road”, he said. “But we remain committed to this country and the industry, and we think that exhibitions and conferences like Mongolia Mining help Mongolia promote its mining industry to the wider world”, he added.
 
Wagner Asia Equipment LLC, the Dealer of Caterpillar Inc in Mongolia is the largest heavy equipment supplier in the country, providing products and supporting services to the mining, construction and infrastructure and energy sectors.
 
“We’ve been a supporter of the Mongolia Mining exposition pretty much since the start”, the Executive Director said. Mr. Potter has personally been part of the expo for the last 6 years.
 
“Mongolia Mining has already established its status as a major international mining event in the last few years”, he conveyed.
 
He then proceeded to assess Mongolia’s mining sector saying, “Although Mongolian mining industry has gone through some challenges in recent years, the fact remains that Mongolia is already a major mining country, and has the potential to become a lot bigger as it has lots of commodities that others need. It’s located closely to China which is a major market and in the Asian region which is probably the fastest growing region in the world. So in the longer term, Mongolia is going to benefit from its rich commodities and geographic location”.
 
 
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