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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AirBnB raises $1bn of investment funding www.bbc.com

Home rental company AirBnB has raised $1bn (£821m) of investment funding in a deal that values the firm at $31bn.
The San Francisco-based firm disclosed the investment in a filing to the US Securities and Exchange Commission.
AirBnB did not comment on how it would use the funding, but is expected to expand its operations globally.
It has grown rapidly since its launch in 2008, and currently operates in 65,000 cities worldwide.
The firm, which does not publish its sales figures, makes its money by enabling homeowners to rent out their homes.
It takes a 3% cut of each booking and a 6% to 12% service charge from guests.
'No IPO plans'
It made its first profit in the second half of 2016, and will continue to be profitable this year on an underlying basis, according to media stories.
They also reported that the firm had no plans to list its shares on the stock market in the near future.

Brian Chesky co-founded AirBnB in 2008 to help pay the rent on his San Francisco flat
The company has been diversifying and recently began offering users new services, such as tailor-made city tours and exclusive experiences with local experts.
However, it has also faced criticism over claims it is driving up rents and contributing to housing shortages in some cities.
In December, under pressure from MPs, the firm said it would block hosts in London from renting out homes for more than 90 days a year without official consent.
What is AirBnB?
The accommodation site lets people rent out their properties, often at prices undercutting hotels and traditional Bed and Breakfasts.
It was started by university friends Brian Chesky and Joe Gebbia in 2008 to help pay the rent on their San Francisco flat.
As the site expanded into more and more cities, helped by the use of professional photographers, it attracted backers including Amazon founder Jeff Bezos and actor Ashton Kutcher.
In total it has raised more than $3bn from investors and it is now the second most valuable start-up in the US after Uber, which is valued at about $70bn.

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Mongolia`s population reaches 3.1 million www.gogo.mn

National Statistics Office reported that population of Mongolia reaches 3 million 119 thousand as of Mar, 2017. 
Population by gender:
1 million 585 thousand are males,
1 million 533 thousand are females. 
In addition to the above, Mongolia had a population of 2.9 million at the end of 2014 while it was increased to 3.57 million at the end of 2015. 
Interestingly, on January 24th, 2015, Mongolia welcomed its 3 millionth citizen.

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Police and health services are the most corrupt in Mongolia www.gogo.mn

Transparency International, the global coalition against corruption released the latest Asia Pacific edition of the Global Corruption Barometer, covered 22,000 people across 16 countries and territories on Mar 7, 2017. 
In Mongolia, police and health services have the highest levels of corruption, out of 6 public services that were asked about. Across the region, 30 percent of respondent who had come into contact with a police officer in the last 12 months had paid a bribe. 
"1500 people were attended the survey from Mongolia, of which 33 percent of them were representatives of 21 aimags and 67 percent of them were residents of Ulaanbaatar, the capital city of Mongolia", said E.Munkhjargal, CEO of Transparency International Mongolia. 
Over 61 percent of people in Mongolia rated their government badly at addressing corruption.
When looking at the overall regional results, 38 per cent of the poorest people have paid a bribe, which was the highest of any income group. This may be because they have fewer alternative options available to them, or because they have less power or influence to avoid paying bribes
The best ways people thought they could tackle corruption in their own countries are reporting corruption (22 per cent) and refusing to pay bribes (21 per cent) were most effective. 
Based on the findings in this report, Transparency International makes the following recommendations to the Governments:
Make good on promises 
Heads of states must speak out and act immediately and publicly, to assert their specific and time-bound commitment under the Sustainable Development Goals (SDGs) to substantially reduce bribery and corruption by 2030.
Governments must deliver on their anti-corruption commitments made globally and regionally by implementing legislation and practice at the national level. For example, the social accountability (article 13) and anti-corruption agencies (articles 6 and 36) aspects of the United Nations Convention against Corruption (UNCAC).
Stopping bribery in public services
Governments should address systemic problems that allow corruption in public sector delivery: Prevent corruption by promoting transparency through effective implementation of access to information legislation and open government practices, enhancing a healthy and free environment for civil society to operate, and enacting codes of conduct for public servants.
Punish the corrupt by immediately adopting a zero-tolerance policy for corruption in public services, pursuing prosecutions and applying appropriate sanctions.
The police must lead by example and urgently address corruption within their ranks and act to gain public confidence because of their key role in fighting corruption.
Governments must integrate anti-corruption targets into all SDGs including hunger, poverty, education, health, gender equality and climate action, and develop mechanisms to reduce corruption risks in these areas.
Encouraging more people to report corruption 
Legislatures must adopt and enforce comprehensive legislation to protect whistleblowers based on prevailing international standards, including those developed by Transparency International. Meanwhile, governments and the private sector must support whistleblowers and reporters of corruption and ensure appropriate follow-up to their disclosures.
Anti-corruption agencies should engage with the large numbers of citizens willing to refuse paying bribes and those willing to report bribes. At the same time, anti-corruption agencies should implement outreach programmes to encourage people to report corruption and ensure user-friendly reporting mechanisms to empower citizens to effectively take action against corruption.

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Snap perks up after initial rush of short sellers www.reuters.com

 
Shares of Snap Inc (SNAP.N) bounced back on Wednesday following a steep selloff while an initial rush to short sell the stock appeared to be slowing.
 
The owner of the Snapchat messaging app had fallen sharply in the previous two sessions as investors focused on its lofty valuation following a $3.4 billion public listing last week that was the hottest technology offering in three years.
 
Shares of Snap, which has warned it may never be profitable, closed up 6.4 percent at $22.81.
 
Traders betting against Snap on Wednesday added less than $50 million in new short sales of its stock, a slower pace than the day before, when initial short bets jumped to $300 million, according to S3 Partners, a financial analytics firm.
 
Short sellers borrow and then sell stocks they think will fall in value, hoping to profit by buying the stock back more cheaply later on and then returning it to its owner.
 
Reflecting a higher supply of Snap's shares and potentially less demand, the annual interest rates brokers charged to lend the shares declined to around 15 percent from as much as 40 percent on Tuesday, said S3 Partners Managing Director of Research Ihor Dusaniwsky.
 
By comparison short sellers paid 19 percent to borrow Twitter's (TWTR.N) stock after its 2013 listing, according to IHS Markit.
 
Traders looking for a piece of the action in Snap will get another way to bet when its options start trading on Friday.
 
Snap has been a roller-coaster ride for investors, surging 59 percent in its first two days of trading, and falling 15 percent since then.
 
Billionaire investor David Tepper, whose views on stocks are closely watched by other money managers, told CNBC on Wednesday he bought shares of Snap in the IPO, sold some, and would buy again if the price dropped.
 
FTSE Russell will consult with big investors on whether to include companies like Snap in its widely followed stock indexes even if their shares lack voting rights, an FTSE Russell executive said.
 
Snap would benefit if it were added to major stock indexes because index portfolios managers would have to buy its shares, and other investors whose performance is tracked against such benchmarks would likely follow suit.
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Private sector leaders call for long-term and stable law and policy www.montsame.mn

Ulaanbaatar /MONTSAME/ The American Chamber of Commerce (AmCham) in Mongolia hosted its March monthly Meeting with some of the most prominent business leaders in Mongolia on March 7 to discuss “Perspectives of Business Leaders on the Economic Situation of Mongolia and Forecasts for 2017”.

The panelists included President of MSC Group J.Od, Chairperson of Petrovis LLC and President of Ulaanbaatar Chamber of Commerce J. Oyungerel, Executive Director of Wagner Asia Group Steve Potter, and Resident Representative for Mongolia at International Finance Cooperation (IFC) Tuyen Nguyen.

The meeting brought together over 100 participants, including AmCham members and representatives from Mongolia’s leading businesses. Attendees heard from the panelists on Mongolia’s outlook in a broad range of business categories, including mining, agriculture, new projects, and finance. The panelists also spoke about the need for economic diversification and stability in policy and law as well as the IMF’s extended fund facility program and its implications for the private sector.

J.Od, President of MCS Group, opened the discussion and said, “2017 presents a real opportunity for Mongolia to develop a real economy and to create jobs based on economic diversification, good policy decisions, regional integration and an open investment environment.”

J.Oyungerel, Chairperson of Petrovis Group, noted, “Mongolia needs to promote and increase its export products, such as agriculture industry products, to further develop our economy while having a stable policy and legal environment designed to support the private sector as the key engine of economic growth. Also, Mongolia needs investors who can supply the best expertise and advanced technology for local businesses to grow.”

Mr. Steve Potter, Executive Director of Wagner Asia Group, gave a comparative analysis of Mongolia with other jurisdictions and said, “The chances of success will greatly increase if we develop long-term and sustainable policies that encourage both domestic and international investment and private sector growth.”

Tuyen Nguyen, Resident Representative for Mongolia at the IFC, commented in detail on the IMF’s extended fund facility program and its impacts on the private sector and said, “Fiscal discipline of the government with the IMF deal will certainly help in unleashing the potential growth of the private sector and in rebuilding investor confidence.”

“AmCham Mongolia has been and will keep working with both the public and private sectors to promote strong private sector growth, an enabling business environment, increased investment, and a stable policy and legal environment in Mongolia.” Jay Liotta, Chairman of AmCham Mongolia, said during his closing remarks.

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China charms Berlin tourism dealers with Silk Road destinations www.chinadaily.com

BERLIN - Chinese travel agencies on Wednesday charmed tourism dealers at a key travel trade show in Berlin, featuring the Silk Road destinations.

Chinese provincial tourism administrations from Shanghai, Hunan, Inner Mongolia and Shandong, as well as Chinese airliners participated in the Internationale Tourismus Boerse (ITB), which will last from March 8 to March 12 with an expected 180,000 attendees.

Destinations in West China's regions of Shaanxi and Xinjiang are drawing extra attention, as tourists can enjoy the convenience in the modern cities while traversing moments in history.

Although modern big cities like Beijing, Shanghai and Guangzhou, still stay on top of the holiday destinations, the Silk Road spots like Lanzhou, Dunhuang, Xi'an have become increasingly heated in recent years, said Shi Xiang, Frankfurt-based regional director of China National Tourism Administration (CNTA).

Some selected travel routes are along the historical Silk Road, an ancient network of trade routes connecting East and West, offering a similar experience as "the early explorers".

People can ride horses, camels and accommodate in gers just like the local herdsmen.

Viktoria Arneson, a 28-year-old travel expert, said the cities on promotion might well suit the taste of western travelers, since lots of them are "adventurous".

"For me, I like grand landscapes, for example sea, steppe, desert. The Silk Road route have those landscapes and seems to be exotic," Arneson said.

For many German exhibitors and dealers, taking a trip along the ancient trade route is even more luring, since the term Silk Road itself is coined by German geographer Ferdinand von Richthofen, who made seven expeditions to China from 1,868 to 1,872.

According to a preliminary report by CNTA, foreign travelers made more than 28 million visits into China in 2016, with a year-on-year growth of 8.3 percent.

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Trump may stop spouses of H-1B visa holders from working www.cnn.com

Trump may stop spouses of H-1B visa holders from working

cnn.com 2017 03 09

It's not an easy time to be an immigrant working on an H-1B visa in the U.S. It could be about to get a lot worse.
The visa program used by several industries to bring skilled foreign workers -- many of them Indian citizens -- to the U.S. is facing potential curbs under President Trump. Their partners and children could be next in the line of fire.
Since 2015, spouses of H-1B visa holders waiting for green cards have been eligible to work in the U.S. on H-4 dependent visas, thanks to a rule introduced by President Obama.

But a group called Save Jobs USA is challenging that rule in court, and the Trump administration has asked for 60 days to think about it.
The U.S. Department of Justice filed a petition last month asking to be given until April 2 "to allow incoming leadership personnel adequate time to consider the issues."
Related: Indian tech graduates fear the US may shut them out
Immigrant support groups worry the delay means Trump will eventually overturn Obama's ruling.
"The recent statements from the government present an unacceptable risk... that [the] DOJ might decide after 60 days to adopt the position of Save Jobs USA," said Aman Kapoor, the co-founder of the Immigration Voice advocacy group.
In a statement, Kapoor pointed out that Attorney General Jeff Sessions has previously said the H-4 ruling "hurts American workers."
Immigration Voice filed a motion this week to intervene in the case on behalf of thousands of its members currently working in the U.S. on H-4 visas.

"Immigration Voice decided that intervention in the Save Jobs lawsuit was the only option to protect the rights of our members and their families, including children who are U.S. citizens," the organization said.
In its petition, it cites two examples of members who stand to lose out if the legal challenge is successful: Sudarshana Sengupta, who plans to launch a startup for developing cancer strategies, and Anujkumar Dhamija, who recently invested about $55,000 to start a business remodeling luxury homes.

Both say their companies will create jobs for Americans, but not if Trump decides to stop them from working. Sengupta has a nine-year-old son while Dhamija has a two-year-old daughter. Both children are U.S. citizens.
"If this program ceases to exist, I will lose all my investment in the new business," Dhamija said in the statement released by Immigration Voice. "I will face significant financial hardships and won't be able to provide for my growing family."
In India, which accounts for 70% of all H-1B workers, there are signs that the uncertainty may be scaring away prospective spouses.
Shaadi.com, one of the country's most popular matchmaking websites, told CNNMoney on Wednesday that the number of women seeking eligible bachelors in the U.S. fell by about 15% between November and February.
"That may be due to the political developments in the U.S.," a representative said.
-- Rob McLean and Sara O'Brien contributed to this report

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Cool Japan Fund to support textile industry www.nhk.or.jp

The Cool Japan Fund will set up a joint venture with a Japanese apparel maker to promote the products overseas.

The fund was created to promote Japanese cultural products abroad. Officials at the fund say they will invest 7.2 million dollars in the new joint venture, to be established by April.

The fund is joining forces with a Tokyo-based apparel maker that operates a fashion brand called 45R.

The company works with regional textile firms to make and sell blouses and jeans, using techniques like indigo dyeing.

Former US ambassador to Japan Caroline Kennedy is one of their customers. The company has 16 outlets in the US, France and other countries.

With the investment from the fund, company executives plan to open 7 more stores over the next 3 years in Europe and the US.

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Exchange of a foreign driving licence for a Mongolian licence (for your information) www.gogo.mn

 All foreigners will need to get an International Driver’s Permit or a Mongolian driver’s license before driving in Mongolia. Please note that you must take a written exam before you can obtain a Mongolian driver’s license. The written exam is provided only in Mongolia; therefore one must provide their own translator.
Also, if your drivier's licence is registered other foreign countries that are member to Vienna Conventions on Road Traffic, then you can apply to exchange it for a Mongolian driver's license. 
You must submit your driving licence permit application to a License Center of General Police Department of Mongolia in person. Remember to bring:
Foreign passport or temporary residence card and its notarized copy 
A foreign driving licence accompanied by an official translation into Mongolian and its notarised copy
Driver`s white page (you can take it from the service hall)
Health examination paper
3x4 sized one photograph 
Payment receipt for MNT 12,500 /Bank account: 900012408, Central State Fund Bank, Receiver organization: Police Office/
For more info on issues related to the driving license, please contact at +976-70006996.

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Surging China iron ore imports can't stem price decline www.mining.com

 
The Northern China import price of 62% Fe content ore fell sharply for a second day in a row on Wednesday, giving up 2.6% to trade at $85.3 per dry metric tonne, the lowest in a month according to data supplied by The Steel Index.
 
After a 85% rise in 2016, the price of iron ore is up another 7% in this year and has more than doubled in value since hitting near-decade lows at the end of 2015.
 
While worries about supply and rising stockpiles have plagued the market, imports by China continued to strengthen in 2017 after hitting an all-time high last year.
 
Trade figures released on Wednesday showed China imported 83.5 million tonnes of ore in February, up 13% compared to last year.
 
Total imports for January-February climbed 12.6% to 175.3 million. Iron ore is averaging $84.90 a tonne in 2017, compared to less than $45 during the first two months last year.
 
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 pushing the value of shipments below $5 billion.
 
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.
 
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 high-cost domestic producers.
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