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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Toshiba to review overseas nuclear power business www3.nhk.or.jp

 
Struggling Japanese electronics giant Toshiba says it will review its overseas nuclear power business. Its loss in the US is reported to be more than several billion dollars.
President Satoshi Tsunakawa told reporters on Friday that the company will reconsider its plan to accept new orders for more than 45 nuclear reactors by fiscal 2030.
Toshiba said its massive losses in the US were due to construction costs for 4 reactors. The equipment and material costs ballooned to meet stricter safety standards following the Fukushima crisis.
Company officials said they are considering an end to accepting new construction orders for reactors. Instead, they are thinking of only taking orders for the delivery of equipment for reactors.
Toshiba is expected to include this revision in its business plan. The company will reveal it together with its earnings report on February 14.
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Mongolians protest over air pollution: 'Wake up and smell the smog' www.bbc.com

 
Thousands of Mongolians took to the streets of the capital, Ulaanbaatar, on Saturday to call for the government to take action on air pollution.
Protesters, some wearing face masks and holding black balloons, gathered as temperatures fell below -20C.
Ulaanbaatar, one of the world's coldest capitals, is also one of the most polluted cities in the world, according to the UN children's agency Unicef.
Many residents burn polluting fuels to keep their homes warm.
Some say they cannot afford the alternatives and have asked for state assistance.
One protester's banner read: "Wake up and smell the smog."
It is the second pollution protest during the current Mongolian winter.
In December, Mongolian environment and tourism minister Oyunkhorol Dulamsuren said that, between 2011 and 2015, the government spent more than $37m, plus $47m from international donors, on tackling air pollution.
Among children under five, respiratory infections are one of the leading causes of death, Unicef says.
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Steelworkers to vote on Port Talbot rescue plan www.theguardian.com

 
Thousands of steelworkers will vote on rescue proposals for the Port Talbot steelworks this week in a definitive moment for the crisis in the industry.
Tata Steel has tabled a proposal to save 8,000 job in its UK business, including the Port Talbot steelworks in south Wales, by investing £1bn into modernising its operations over the next 10 years.
However, this investment depends on spinning off the pension fund behind Tata Steel UK into a separate entity and replacing the final salary pension scheme with a less generous defined contribution scheme.
The existing scheme – the British Steel pension scheme (BSPS) – could enter the Pension Protection Fund (PPF) as part of the arrangement, which would result in a 10% cut to members’ benefits. However, for this to occur Tata Steel must convince the Pensions Regulator that its UK business is on the brink of insolvency and is likely to have to pump hundreds of millions of cash into the scheme.
The BSPS has 130,000 members and £15bn of liabilities. It would be by far the biggest pension scheme to be taken on by the PPF.
The trade unions Unite, GMB and Community have recommended that workers vote in favour of the proposals, but they could still be rejected given the changes to the pension scheme.
If the rescue package is approved then Tata Steel will look to complete a merger of its European operations with ThyssenKrupp, the German industrial conglomerate.
Tata Steel declined to comment. The trade unions said they had not made the recommendation lightly, telling workers: “Nobody is saying that the proposal on the table is without issues. But as we have said before, what you are voting on is the best outcome that could be achieved through negotiation. It is our collective view, supported by our independent experts, that this is the only credible and viable way to secure the future.”
However, John Ralfe, a pension consultant, warned: “ThyssenKrupp won’t touch Tata UK or Tata Holland unless the British Steel pension scheme is hived off. The risks of it coming back to bite them are too high.
“It is not clear what the pension trustees have in mind with the plan to hive off the pension scheme without Tata Steel UK going into insolvency. The legal tests for a regulated apportionment arrangement [the process whereby a pension scheme enters the PPF] are deliberately set very high.
“The BSPS will certainly close to new pensions, but the £15bn of historic liabilities are likely to remain the responsibility of Tata Steel UK, which will continue to soldier on, and ThyssenKrupp would then be almost certain to walk away.”
The steel jobs have been at risk since last March when Tata Steel announced it was putting its UK business up for sale amid losses of more than £1m a day. The decision sparked a political crisis as the government scrambled to secure the future of the plant. Port Talbot is one of only two sites in Britain that makes steel in blast furnaces.
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Russian Football Clubs Spent More Than $114 Million on Player Transfers in 2016 www.themoscowtimes. com

Russian football clubs spent over $114 million on player transfers last year, FIFA's press service has announced. FIFA said this figure is 383 percent higher than the amount spent during the previous year.

According to FIFA, in 2016 the total number of international transfers in football worldwide reached 14,591 trades, exceeding the previous year's total by 1,000.

Total spending on trading worldwide was $4.7 billion, 14.3 percent higher than 2015's figure.

The greatest activity came from Chinese clubs, which spent $451 million on new players. Since 2013, the volume of purchases by Chinese clubs increased 17 times.

European clubs spent $3.9 billion in total last year.

Among national football federations, the highest expenditure was recorded by English teams. Last year, English clubs bought players whose value totaled $1.3 billion, representing more than 43 percent of the total expenditure of the "Big Five" (England, Germany, Spain, Italy and France).

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Mark Zuckerberg criticizes Trump on immigration www.cnn.com

Mark Zuckerberg has decided to speak up against President Trump.
The Facebook (FB, Tech30) CEO and cofounder expressed concern on Friday over Trump's executive orders this week on immigration and refugees.
"Like many of you, I'm concerned about the impact of the recent executive orders signed by President Trump," Zuckerberg wrote in a Facebook post, which cited his family's immigrant background and his volunteer work with undocumented schoolchildren.
"We should also keep our doors open to refugees and those who need help," Zuckerberg wrote. "That's who we are. Had we turned away refugees a few decades ago, Priscilla's family wouldn't be here today."
On Friday, Trump signed an executive order calling for "extreme vetting" of refugees, following through on promises on the campaign trail. Earlier in the week, Trump signed an executive order prioritizing the deportation of criminals, but with a more sweeping definition of "criminal."

"We need to keep this country safe, but we should do that by focusing on people who actually pose a threat," Zuckerberg wrote. "Expanding the focus of law enforcement beyond people who are real threats would make all Americans less safe by diverting resources, while millions of undocumented folks who don't pose a threat will live in fear of deportation."
Zuckerberg, who has called for a more open immigration policy, also clashed with Trump during the campaign.
"Mark Zuckerberg's personal senator, Marco Rubio, has a bill to triple H-1Bs that would decimate women and minorities," Trump said in October 2015.
"Instead of building walls, we can help build bridges," Zuckerberg said at an event in April 2016, in an apparent dig at Trump's proposal to build a border wall with Mexico.
Zuckerberg's latest criticism comes just one day after Facebook COO Sheryl Sandberg criticized Trump on abortion policy.
The top two Facebook execs have mostly stayed silent on Trump since his election victory, with rumors mounting that either or both may be interested in running for political office. (Zuckerberg recently said he has no intention to run.)
Peter Thiel, Facebook's longest-standing board member, was a vocal supporter of and donor to the Trump campaign. Thiel was a member of Trump's transition team and helped wrangle tech leaders, including Sandberg, to meet with Trump in December.

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Former VW boss investigated over emissions fraud www.bbc.com

The former boss of VW may have known the carmaker was cheating on emissions tests earlier than he admitted, German prosecutors have said.
Martin Winterkorn quit in September 2015 after VW admitted to using software to lower the emissions from its diesel vehicles during tests.
He has since denied knowing of the violations until late in August 2015, shortly before the board reported them.
But German authorities said they were now investigating him for fraud.
Prosecutors from the German region of Braunschweig said they had searched 28 homes and offices this week in connection with the scandal.
As a result, the number of people accused of misconduct had risen from 21 to 37, including Mr Winterkorn.
"Sufficient indications have resulted from the investigation, particularly the questioning of witnesses and suspects as well as the analysis of seized data, that the accused [Mr Winterkorn] may have known about the manipulating software and its effects sooner than he has said publicly," the prosecutors said in a statement.

Earlier this month, VW admitted to US prosecutors that about 40 employees had deleted thousands of documents in an effort to hide systematic emissions cheating from regulators.
It was also fined $4.3bn by US authorities and agreed to plead guilty to criminal charges.
In addition, the carmaker has agreed to a $15bn civil settlement with environmental authorities and car owners in the US.
It is also facing 8.8bn euros ($9.41bn) in damage claims following the collapse of VW's share price after the scandal broke.
VW shares slumped by a third in the immediate aftermath of the scandal and are still 7% below their September 2015 level.

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Alibaba's Ant Financial buys MoneyGram for $880m www.bbc.com

Ant Financial, the digital payments arm of e-commerce giant Alibaba, is buying US-based MoneyGram for $880m (£700m).
MoneyGram has about 350,000 outlets in nearly 200 countries. Ant Financial has more than 630 million users.
The takeover by the Chinese group will need regulatory approval from the US Committee on Foreign Investment.
The inter-agency committee reviews foreign acquisitions of domestic American assets on grounds of national security.
Eric Jing, chief executive at Ant Financial, said in a statement that the marriage of the two companies will "provide greater access, security and simplicity for people around the world to remit funds, especially in major economies such as the United States, China, India, Mexico and the Philippines".
Ant Financial has a big market share in the online payments industry in China. The acquisition could help the company extend the lead as well as expand overseas, as competition is growing in China with rival Tencent's WeChat payment system.
US-listed Moneygram's shares rose by nearly 9% on the news. The takeover has been approved by MoneyGram's board of directors.
Politics over profits?
Ant Financial's shopping spree in the US comes against a backdrop of rising tensions between China and the world's biggest economy.
Before he took office, then president-elect Donald Trump was questioning whether the US should continue its "One China" policy, sparking fury from Chinese state media. And during his presidential campaign, Mr Trump threatened to impose punitive tariffs on Chinese imports.
But Jack Ma, the founder and chairman of Alibaba, held a meeting with Mr Trump in December last year.
While President Trump has been critical of China, he said he had a "great meeting" with Mr Ma, who chose to float Alibaba on the New York Stock Exchange. The share sale in September 2014 was a record-breaker, as Alibaba raised $25bn in its initial public offering.
If the MoneyGram deal goes through, it will be Alibaba's second acquisition in the US. Last year the e-commerce giant purchased EyeVerify in a $70m deal.
EyeVerify is a start-up based in Missouri, which uses biometric authentication technology for securing user's online data and transactions.

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Tesco to buy Budgens and Londis owner Booker in £3.7bn deal www.theguardian.com

 
Tesco, Britain’s biggest supermarket group, is to buy Booker, the UK’s largest food wholesaler and the owner of Londis and Budgens, in a £3.7bn deal.
The supermarket giant has unveiled an agreed share and cash merger that values Booker at £3.7bn, “to create the UK’s leading food business”.
Tesco chief executive Dave Lewis said: “Tesco has made significant progress in turning around our UK retail business. This merger with Booker will further enhance Tesco’s growth prospects by creating the UK’s leading food business with combined expertise in retail, wholesale, supply chain and digital. Wherever food is prepared and eaten – ‘in home’ or ‘out of home’ – we will meet this opportunity with the widest choice and best service available.”
Under the terms of the deal, each Booker shareholder will receive 0.861 Tesco shares and 42.6p in cash.
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White House: Higher taxes proposed for US imports www3.nhk.or.jp

 
White House officials are proposing higher taxes to help pay for US President Donald Trump's plan to build a wall along the Mexican border. US media reports say that might not mean higher tariffs, but rather steeper taxes for companies in the United States that import products.
Press Secretary Sean Spicer told reporters on Thursday that the White House will propose a 20-percent tax on products from countries that the US has a trade deficit with. He said that the administration is considering discussing the specifics with Republican lawmakers.
Spicer's remark comes after Trump expressed the idea of pushing for tax reforms on Mexican imports to pay for the cost of building the wall.
Media reports say the White House is considering reforming the corporate tax system. They say one idea is to lower taxes on companies that export, while raising those on firms that import.
Such changes could affect Japanese businesses.
But the plan faces persistent opposition from US importers. Trump himself has criticized it for being too complicated.
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S&P Affirms China Rating With Warning Financial Risks Are Rising www.bloomberg.com

 
 
S&P Global Ratings maintained its negative outlook on China, citing increasing economic and financial risk that it said could cause a downgrade in coming months.
The credit rating was affirmed as AA- with a negative outlook, which S&P has maintained since it cut the outlook for the economy from stable to negative in March. It also affirmed the A-1+ short-term sovereign credit ratings.
“The negative outlook reflects our view of gradually increasing economic and financial risks to the government’s creditworthiness, which could result in a downgrade this year or next,” Singapore-based credit analyst Kim Eng Tan wrote in a report Thursday. “China’s reforms to its fiscal and monetary policies, coupled with its anti-corruption campaign, should help support its sovereign creditworthiness.”
Reliance on credit-fueled growth also adds to the risk of a hard landing for the economy, Tan said, adding that the negative outlook was mainly based on the “gradually increasing economic and financial risks.” The last change to the rating was December 2010, when it was raised from A+.
Economic growth over the next three years will be at least 5.5 percent annually, and supporting the expansion may require heavy public investment by the government given the uncertain external economic environment, Tan said.
The report followed another that also cited heavy borrowing. China’s large debt will lead to substantially slower economic growth by the end of the decade rather than an outright financial crisis, Fitch said in a statement this week.
The contribution from consumption will likely increase, but in the meantime, the investment rate is likely to remain above 40 percent of gross domestic product, with credit growth outpacing the economic expansion over the same period, Tan said.
S&P would downgrade if it saw a higher likelihood China seeks to stabilize growth at or above 6.5 percent “by allowing credit to increase significantly faster than the nominal GDP growth,” Tan said.
 
 
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