1 VALE EVACUATES 200 PEOPLE FROM TOWN NEAR ITS MAR AZUL MINE WWW.MINING.COM PUBLISHED:2019/02/17      2 TOOTH PLAQUE SHOWS DRINKING MILK GOES BACK 3,000 YEARS IN MONGOLIA WWW.SCIENCENEWS.ORG  PUBLISHED:2019/02/17      3 INCREASING NUMBER OF CHINA-EUROPE FREIGHT TRAINS SUPPORTS MONGOLIA'S ECONOMY: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/17      4 TAX REVENUE INCREASES BY 33.7 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/02/17      5 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      6 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      7 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      8 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      9 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      10 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

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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Cabinet approves draft agreements on infrastructure development www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting on May 10, Wednesday, the Cabinet discussed and approved draft special loan agreements on projects ‘Construction of steel-concrete bridges on Tuul River in Bayanzurkh and Sonsgolon’ and ‘Construction of Ulaanbaatar-Mandalgobi electricity transmission network and electrical substation’ to be established by the Ministry of Finance and Chinese Export-Import Bank.
 
From USD 1 billion soft loan issued by the Export-Import Bank following an agreement established with Mongolian Government in 2015, USD 118 million fund will be allocated for the Ulaanbaatar-Mandalgobi electricity transmission network and electrical substation project.
 
With establishment of the agreement, the Cabinet views, electricity will be distributed to major mines like Oyu Tolgoi, Tavan Tolgoi and Tsagaan Suvarga, and moreover, there will be two electricity sources when Tavan Tolgoi power station launches its operation.
 
The Bayanzurkh bridge on Tuul River, inaugurated in 1963 and 1965, will be enlarged with the project, and the road leading to Sonsgolon bridge will be expanded to a four-lane road.
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Ross: Washington won't oppose TPP without US www.nhk.or.jp

US Commerce Secretary Wilbur Ross says that he will not oppose an Asia-Pacific free trade deal that may take effect without the participation of the US.

Ross stressed on Tuesday that the US will seek bilateral deals to reduce its trade deficit.

The US pulled out of the Trans-Pacific Partnership in January. The remaining 11 member countries, including Japan, are pursuing the possibility of getting the deal implemented without the US.

The Pacific-Rim countries will hold a ministerial meeting in Vietnam in late May to discuss the trade deal.

An NHK correspondent says the US administration is eager to not only protect domestic manufacturers, but also to boost exports of US farm goods.

He also said that the administration may start pressuring trade partners to enter bilateral negotiations.

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China says Silk Road plan is not tied to presidency www.reuters.com

China's President Xi Jinping initiated the ambitious "Belt and Road" development plan but it has become a world plan not tied to his presidency, the Commerce Ministry said on Wednesday, days before Xi hosts a global forum on the initiative.

The forum in Beijing next week will draw heads of state to discuss Xi's plan to expand trade links between Asia, Africa and Europe through billions of dollars in infrastructure investment.

Representatives from more than 100 countries will attend China's biggest diplomatic event of the year, though only one leader from the Group of Seven (G7) industrialized nations, Italian Prime Minister Paolo Gentiloni, is set to join.

China says between 2014 and 2016, its businesses signed projects worth $304.9 billion along inland and maritime corridors of the plan, also known as the New Silk Road. But some of the projects could be in development for years.

Judging by recent precedent in China's political system, Xi is slated to step down from the presidency in early 2023 at the end of his second five-year term.

Asked what guarantee the world had that the initiative would go on after Xi's second term, Vice Minister of Commerce Qian Keming told a news briefing that its vitality lay in countries' hopes for development and not in the idea of "who proposed it or what term in office there is later".

"The Belt and Road initiative was proposed by President Xi in 2013, but this initiative is not an individual proposal, or merely left at a proposal level. Rather it is an initiative that has been widely received by the whole world. It is jointly owned by everyone," Qian said.

China has repeatedly rebuffed concern that the plan is part of a grand strategy to expand its economic interests for selfish gain and to seek global dominance, saying that anyone can join the plan to boost common prosperity.

Xi has used the initiative to help portray China as an open economy, distinct from a rising wave of global protectionism.

However, the government has faced criticism from foreign business groups and governments alike, who say it has done little to remove discriminatory policies and market barriers that favor Chinese companies.

Foreign business groups have questioned whether multinational companies would be able to compete with Chinese firms through the plan in transparent bidding processes.

Zhang Xingfu, an official from the Commerce Ministry's cooperation department, played down such concerns.

"Chinese enterprises conducting investment and cooperative business in countries along the Belt and Road initiative will ... actively participate in project bidding, and cooperate and compete with international enterprises in the same industries on the same platform," Zhang said.

(Reporting by Michael Martina; Editing by Robert Birsel)

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Rosneft Executives Enjoy 9900% Rise in Bonus Payout www.themoscowtimes.com

Top managers at Russian oil company Rosneft will see their bonuses skyrocket by 9,900 percent for the first quarter of 2017.

Rosneft executives will receive a 1.5 billion ruble ($25.8 million) bonus, one hundred times more than the same period in 2016, Russia's Vedomosti newspaper reported Wednesday. The sum also equals more than half of the total executive bonuses received in 2016.

The decision comes despite a small slump in the company's revenue, which fell from 1,485 billion rubles ($25.6 billion) in the final quarter of 2016 to 1,410 billion rubles ($24.3 billion) in the first quarter of this year.

Rosneft said that the premiums were linked to the company's successful privatization and acquisition of Russian oil company Bashneft.

“The deal was conducted in an unprecedentedly difficult situation in the shortest possible time," a Rosneft representative told Vedomosti.

The company is yet to announce how the bonus will be divided among top executives.

Rosneft was privatized in December 2016, when the Russian government sold its 19.5 percent stake in the company to a consortium consisting of the British-Swiss commodities trading firm Glencore and the Qatari Sovereign Wealth Fund. The sale generated 10.5 billion euros ($11.3 billion) for the Russian budget, the Kremlin announced.

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Asian bio-safety committee convenes in Ulaanbaatar www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The Second Consultative Meeting of the Asian countries’ unofficial committee on “Forwarding Biological Safety Mechanism” is taking place in Ulaanbaatar on May 10-12. The meeting is jointly organized by the Government of Mongolia and the Secretariat of the Cartagena Protocol on Biosafety to the Convention on Biological Diversity.
 
12 representatives from Malaysia, Cambodia, Mongolia, China, South Korea and the Philippines are taking part in the meeting, considering conservation of bio-diversity, regional network required to ensure biological safety, raising public awareness and ensuring public involvement, as well as organizational and many other types of issues.
 
Mongolia is a party to the Convention on Biological Diversity and the Cartagena Protocol, which was ratified by the State Great Khural in 2002. The Mongolian parliament passed the Law on Modified Organism in 2007, and since has been working to establish the legal ground for ensuring bio-safety.
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Detroit revival spurs JPMorgan to make fresh $50 million pledge www.reuters.com

JPMorgan Chase & Co (JPM.N) is investing another $50 million in Detroit amid what city officials and bank executives describe as encouraging signs for urban renewal through public-private partnerships.
 
JPMorgan's latest investment, which it plans to announce on Wednesday, comes on top of a $100 million, five-year commitment the largest U.S. bank made to Detroit in 2014.
 
At the time, the city was bankrupt due to the near-collapse of the U.S. auto industry and six decades of economic decline and population exodus.
 
The bank has put up $107 million so far, funding blight removal, commercial and residential redevelopment, job skills training and loans to small businesses. Now it plans to reinvest $13 million from early loan repayments, and commit an additional $30 million, Peter Scher, the bank's head of corporate responsibility, said in an interview.
 
"There's been a much more vibrant comeback in the small business sector in Detroit than anyone expected," he said.
 
The $150 million commitment is tiny compared with the bank's $2.5 trillion balance sheet, but JPMorgan is the biggest bank in Detroit, aligning its interests with the city's. Chief Executive Jamie Dimon has made it a personal mission to improve Detroit, visiting at least six times to check on the initiative.
 
Dimon has met with contractors who needed working capital to repair homes and with food entrepreneurs who needed shared commercial kitchens for bread baking and sausage-making.
 
The bank has worked with Detroit Mayor Mike Duggan to focus its efforts on neighborhoods with the most promise and city support.
 
"Detroit's resurgence is a model for what can be accomplished when leaders work together to create economic growth and opportunity,” Dimon said in a statement provided to Reuters.
 
JPMorgan has followed other private investors. Billionaire Dan Gilbert, founder of Quicken Loans Inc, and his companies control more than 90 properties downtown in a redevelopment push.
 
Detroit was once the fifth largest U.S. city with 1.85 million people. It now ranks below the top 20 and has its smallest population since 1850. But in July 2015, by the most recent Census Bureau estimate, Detroit's 677,116 residents were just 0.5 percent fewer than the year before, the smallest drop in decades.
 
The bureau will release 2016 figures later this month. Local officials hope to see gains.
 
"It will validate all the work that is going on here," said Carmine Palombo, deputy executive director of the Southeast Michigan Council of Governments.
 
Still, the city's unemployment rate was 10.9 percent in 2016, the highest among the 50 largest U.S. cities. Nearly 40 percent of residents live in poverty and Detroit had the second-highest violent crime rate in 2016 among major U.S. cities.
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Vice President busy in Mongolia www.vov.vn

Vice President Dang Thi Ngoc Thinh suggested Mongolia carry out policies to encourage and facilitate investment by Vietnamese investors while attending a Vietnam-Mongolia Business Meeting in Ulan Bator on May 9.

Vice President D​ang Thi Ngoc Thinh presents educational tools and equipment to High School No.14 's teachers and students
The meeting was co-organised by the Vietnam Chamber of Commerce and Industry, Mongolian Employers’ Federation, and Vietnamese Embassy in Mongolia.

The Vice President told local firms about Vietnam’s advantages in attracting investors such as political stability and convenient geographical location.

The same day, the Vice President received S.Dashtsevel, President of the Mongolia-Vietnam Friendship Association, during which she urged the two countries’ friendship associations to continue their close coordination and intensify friendship exchanges and popularization of information on the two countries to strengthen mutual understanding between the two peoples.

S.Dashtsevel confirmed that his association will work to contribute to boosting mutual understanding and cooperation between the two countries.

Also on the day, Vice President Thinh met the management board and students of the High School No.14 named after President Ho Chi Minh.

She presented educational tools and equipment to the school’s teachers and students.

Thinh also visited the Vietnamese Embassy and met representatives of the Vietnamese community in Mongolia.

On May 10 morning, the Vice President is scheduled to leave Mongolia for Tokyo to attend the 27th Global Summit of Women (GWS) and pay working visit to Japan from May 10-16.

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Mongolian and Mexico sign documenr for cultural and humanitarian cooperation www.montsame.mn

 
Ulaanbaatar /MONTSAME/ On May 3, B.Altangerel, Ambassador Extraordinary and Plenipotentiary of Mongolia to the United Mexican States and Dr. Martha Navarro-Albo, Director General for Scientific and Technical Cooperation of the Mexican Agency for International Development Cooperation signed an intergovernmental program between Mongolia and Mexico on cooperation in the fields of education, art, culture, physical training, sports and youth development in 2017-2020.
 
The program will enable the sides to enjoy the possibilities to organize international fair and exhibition and arts and culture festivals. Also, Mongolian people will have opportunities to study under the Mexican government' scholarship programs and diplomats to participate in training on Mexican foreign policy and Spanish language. As Mexico is committed to preserve the cultural heritage of the ancient civilizations, such as the Aztecs and Maya, Mongolia would have a chance to learn from their experiences.
 
This program was established based on the realization of Cultural Exchange Agreement of 1985 between the governments of Mongolia and Mexico.
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Preme minister to visit China and attend Belt and Road Summit www.montsame.mn

 
Ulaanbaatar /MONTSAME/ From May 12 to 15, Prime Minister of Mongolia J.Erdenebat will attend Belt and Road Summit to be held in Beijing at the invitation of President of China Xi Jinping, and will pay a visit to China at the invitation of Li Keqiang, Premier of the State Council of China.
 
During the visit, Prime Minister J.Erdenebat will pay a courtesy call on Chinese President Xi Jinping and hold official talks with Premier Li Keqiang. He will also meet with officials from some Chinese companies investing in Mongolia.
 
Both Mongolian and Chinese Prime Ministers will attend a signing ceremony of bilateral cooperation document between the two nations.
 
The Belt and Road Summit will be attended by state and government leaders from 28 countries as well as high level officials of international organizations, including the United Nations, World Bank and International Monetary Fund.
 
Prime Minister J.Erdenebat will take part in a roundtable meeting to be hosted within the summit to deliver speeches under the themes "To coordinate policies for partnership” and “To boost cooperation in infrastructure for development”. Also, he will hold individual meetings with some world leaders during his attendance.
 
 
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Australia budget 2017: Treasurer unveils big banks tax www.bbc.com

 
Australian Treasurer Scott Morrison has unveiled a new budget which includes a surprise rise in taxation for the country's five biggest banks from July.
Mr Morrison also announced education savings which will see students pay a greater share of the cost of degrees.
Infrastructure projects, health and housing affordability were also high on the government's agenda.
The main opposition Labor party accused him of using a healthcare levy increase to fund tax cuts for big business.
But Labor supported the tax on the banks.
Mr Morrison said $6.2bn ($4.6bn; £3.5) would be raised over the next four years by the new levy on the big five - ANZ Bank, Westpac, National Australia Bank, Commonwealth Bank and Macquarie.
The head of the Australian Bankers' Association called the levy "a direct attack on jobs and growth".
"It is a tax that will hit Australians by hurting investment and could have unintended consequences... it will affect the entire banking system," said Anna Bligh, the former Queensland premier.
"This new tax is not a well thought-out policy response to a public interest issue, it is a political tax grab to cover a budget black hole."
What we knew already
The budget was the first since PM Malcolm Turnbull's government was re-elected on a tiny majority last year.
In it Mr Morrison outlined higher education reforms aimed at savings of A$3.8bn by June 2021.
But the government had already announced key aspects of the budget, including building a second Sydney airport, increasing university fees by 7.5% by 2021, and lowering the salary threshold for university debt repayments from A$55,000 to A$42,000.
In other areas, the government will provide:
The Australian Federal Police with an extra A$321m to counter the threat of terrorism;
Early childhood education with an additional A$428m;
Indigenous Australians who were exposed to radiation from British nuclear testing extra healthcare benefits;
No more subsidies on university fees for citizens from New Zealand.
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