1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     ОЛОН УЛСЫН ИННОВАЦИЙН ИНДЕКСЭЭР МОНГОЛ УЛС 53-Т ЖАГСЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/17     ШАДАР САЙД НҮБ-ЫН ӨНДӨР ТҮВШНИЙ УУЛЗАЛТАД ОРОЛЦОЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Trade probes into Chinese steel up year-on-year: official www.chinadaily.com

BEIJING - Chinese steel saw more trade remedy probes during the first 11 months of 2016 than the previous year, an official said on Friday.

A total of 41 investigations were launched over steel products imported from China by 16 countries and regions, up 24 percent year on year, and involving products worth $6.8 billion, Shen Danyang, a spokesperson of the Ministry of Commerce, said during a press conference.

"Members of the World Trade Organization have the right to initiate such investigations, but they must strictly observe related rules and fully ensure the legal rights and interests of Chinese companies," Shen said.

Given the worldwide steel overcapacity, many countries have resorted to protectionism and blamed Chinese steel for their domestic economic woes, instead of pressing ahead with reforms.

"The world should work together to face the problem, rather than just targeting China," Shen said.

China has made steady headway in downsizing its own steel production. The industry slashed 45 million tonnes of capacity in the Jan.-Nov. period ahead of schedule, and regulators have shut down illegal projects and guaranteed there will not be any illegal new steel mills.

In fact, China digests most of its steel production. In the first ten months, China exported 92.63 million tons of steel, up only 0.5 percent from a year ago.

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Hitachi rolls out 1st train car at British factory www3.nhk.or.jp

Japanese electronics firm Hitachi has rolled out the first train car assembled at its factory in northern Britain.

The new train was unveiled at the plant in Newton Aycliffe on Friday at a ceremony attended by British government officials and media.

The train is designed to travel at around 200 kilometers per hour. It can carry diesel engines, which will enable it to run on non-electric tracks.

Hitachi built the factory last year after the firm won a contract worth about 7.1 billion dollars to manufacture 866 carriages. It will build most of the new carriages there.

British Transport Secretary Chris Grayling said the strength of the relationship with countries like Japan is vital for Britain after its exit from the European Union.

Hitachi executive Kentaro Masai said the success of the train will create new opportunities for the firm elsewhere in the country.

Hitachi is aiming to win other contracts for major rail projects in Britain, including one to build a large-scale high-speed rail network.

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Microsoft plans to win VR race www.chinadaily.com.cn

 
Virtual reality applications in China now exceed those in the United States MA SI
 
Microsoft Corp said on Thursday its mixed reality headset, called HoloLens, will come to China in the first half of 2017, as the United States tech giant steps up efforts to tap into the country's software developers and into local firms' desire to achieve digital transformation.
 
Terry Myerson, the executive vice-president of the Windows and Devices company at Microsoft, said the firm will launch HoloLens for Chinese developers and commercial customers. He did not disclose the specific price tag, just saying it will be around $3,000, roughly the same as in other countries.
 
"We believe China, or, broadly speaking, Asia, could be leading the world in terms of mixed reality. We are seeing more virtual-reality-enabled activities here than in the United States," Myerson said on the sidelines of a manufacturing partner conference in Shenzhen.
 
HoloLens allows users to view virtual objects and characters in the real life environment. Microsoft is competing with Google Inc-backed Magic Leap and other players in the race for lead in the nascent market.
 
The company also published technical specifications it co-developed with Intel Corp for PCs that can power headsets capable of mixed reality. Lenovo Group Holding Ltd, Dell Inc and other PC vendors will start shipping the first VR goggles next year.
 
These gadgets will come with the Windows 10 Creators Update, the latest version of its Windows operating system. And unlike other VR headsets, there will be no need for a separate room and complicated setup, Microsoft said.
 
James Yan, research director at Counterpoint Technology Market Research, said the move is part of Microsoft's broad efforts to build a virtual reality ecosystem.
 
"Microsoft has a dominant position in the PC operating system market, but it missed opportunities in smartphones. Now it is seeking to replicate its success in virtual reality gadgets," Yan said.
 
Asked when HoloLens will become available in the consumer market over the next three to five years, Myerson quoted Bill Gates. "We often overestimate what will happen in the next three years and underestimate what will change in the next 10 years."
 
Yan from Counterpoint said: "Currently, HoloLens is still too expensive for consumers. If the price is lowered to below 10,000 yuan ($1,470), it will gain an advantage," Yan said.
 
According to market research firm Net Applications, the Windows 10 operating system accounted for 23.7 percent of the PC market in October, a rise of 1.1 percentage points from the previous month.
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MBD Business offers #12 www.mongolianbusinessdatabase.com

MBD provides the services like to facilitate the specific market research, shortlist/recommend the potential "players" in the market, assist to penetrate into Mongolian or/and foreign market, organize a business events in Mongolia or abroad and professional communication support among the interested business partners.
As you know, we do pack and share the business offers regularly.
Please review the following MBD business offers package number 12 and feel free to visit www.mongolianbusinessdatabase.com for more information on each offer and contact us.
MBD Admin: contact@mongolianbusinessdatabase.com
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Industry solutions(Singapore)
Seeking a partner

Production of oil, gas,electricity(Germany,Estonia)
Seeking a partner

Construction machinery spare parts(China)
Seeking a partner

Support your business growth(India)
Seeking a partner

Flexible financial packages(United Arab Emirates)
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Instant noodles, instant coffee(Vietnam)
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Mask (Japan)
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Automotive machines manufacturer(China)
Seeking a partner

Helicopters sale, rent and service (New Zealand)
Seeking a partner

Building materials-CSA cement(China)
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Used heavy machinery and equipment (USA)
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Water-based ink (PR China)
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Agricultural Machinery(Turkey)
Seeking a partner

Underfloor heating film solutions(S.Korea)
Seeking a partner

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Samsung may emerge as the largest recruiter from IITs this year www.economictimes.indiatimes.com

 
NEW DELHI | MUMBAI: Samsung is set to emerge the top recruiter from IIT campuses this year with plans to hire more than 300 engineers from the country’s premier technology institutes.
 
The South Korean mobile phone and electronics major is leading the race in terms of making maximum offers in at least three Indian Institute of Technology (IIT) campuses after the first eight days of final placements this year.
 
Other big recruiters that have made a large number of offers so far across IITs include EXL, Reliance IndustriesBSE 0.61 % (RIL) and Capgemini. Despite facing a rough time globally since the first reports of the Note 7 catching fire came to light in early September, Samsung is in aggressive hiring mode.
 
A Samsung India spokesperson said the company plans to hire over 300 engineers from the IITs this year for its research and development (R&D) institutes in Bengaluru, Noida and Delhi.
 
"IITs offer some of the best engineering talent in India, and these young engineers are well-suited to the innovation mindset at Samsung," the person
said.
 
According to data from campuses, Samsung made the maximum number of offers at IIT Roorkee, IIT Varanasi (Banaras Hindu University) and Guwahati, handing out 95 offers in these three campuses.
 
At IIT Kharagpur, it is trailing only Coal IndiaBSE -1.62 %. Samsung is also hiring aggressively from other top IITs such as Delhi, Bombay, Madras, Kanpur and Hyderabad. Another top recruiter this year is outsourcing and analytics service provider EXL that has visited eight IITs, including Bombay, Delhi, Kanpur, Kharagpur, Roorkee, Madras, Guwahati, and BHU (Varanasi) this year, and made 127 offers, up from 111last year.
 
"Driven by its growth-induced demand, EXL has been consistently increasing its offers at the campuses primarily due to the quality, aptitude and trainability of the candidates," said Vivek Jetley, senior vice-president, EXL Analytics.
 
"EXL hires primarily for its consultant role from all the above campuses," he added. Placements at IITs started on December 1 and are still ongoing. The first phase of the process will end later this month, only to pick up again in January.
 
"Samsung Bangalore has been the top recruiter at our institute this year with 25 offers," said Kaustubha Mohanty, head, centre for career development, IIT Guwahati. Other top recruiters from the campus so far include data analytics company FICO with 15 offers, and EXL and RIL with 11 offers each.
 
At IIT Kharagpur, placement chairperson Debasis Deb said Coal India is set to be the top recruiter for the second year in a row, having made 26 offers so far. It is followed by Samsung Bangalore and EXL with 22 offers each, and Mentor Graphics and ZS Associates with 14 offers each.
 
At IIT Roorkee, Samsung made 26 offers, followed by WiproBSE 0.03 % with 23 offers, Microsoft with 17, Reliance Industries with 16, and Citicorp Services India and EXL with 15 offers each.
 
Microsoft was the largest recruiter last year with 31offers, said NP Padhy, professorin-charge for placement at the institute. Microsoft declined to comment on the marginal dip in its hiring numbers this year. The software giant has so far made more than 70 offers across IITs this year, including 20 offers for international profiles.
 
"Our drive at IITs this year is in keeping with our increased focus on R&D and engineering excellence as we move towards becoming a cloud and services organisation," a Microsoft spokesperson said in an email response.
 
Power management company Eaton also recruited in good numbers. It made 11 offers at IIT Hyderabad to emerge the single largest recruiter there while at IIT BHU it made 10 offers.
 
At IIT BHU, Samsung made 44 offers followed by Goldman Sachs with 23 offers, Citi Corp with 22, and Capgemini with 21 offers. BHU offer numbers include pre-placement offers. At IIT Madras, the companies in pecking order (starting from highest number of offers) are Intel, Citicorp Services, Samsung R&D Bangalore, Eaton, EY, EXL and Axis BankBSE 0.41 %.
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Fukushima Daiichi cost estimate hits $188 bil. www3.nhk.or.jp

 
The Japanese government says the total cost of cleaning up and providing compensation for the Fukushima Daiichi nuclear disaster may end up being twice as much as an earlier estimate.
 
It says the figure could reach 21.5 trillion yen, or about 188 billion dollars at the current rate.
 
The industry ministry announced a new cost estimate at a panel of experts on Friday. The panel discusses ways to share the costs of scrapping the reactors as well as decontamination costs, compensation and other payouts.
 
The ministry's earlier projection of the total cost was about 98 billion dollars.
 
The new estimates say the cost of scrapping the reactors will likely quadruple to about 70 billion dollars due to the difficulty of the task and the lengthy period of time needed to remove the molten fuel.
 
It is estimated that compensation to individuals and companies will grow from the initial 47 billion dollars to about 69 billion dollars, as farming-related payouts are expected to rise.
 
The cost of decontaminating the land is also estimated to grow from 31 billion dollars to about 49 billion dollars.
 
The government plans to urge the plant's operator, Tokyo Electric Power Company, to carry out further corporate restructuring. It also plans to create a system by which other major utilities and newcomer power suppliers can share the financial burden. It will also require consumers to shoulder part of the burden through higher electricity bills.
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Mining Industry officials meet with delegations from China Shenhua www.mongolia.gogo.mn

 
Mining and Heavy Industry Ministry officials today received delegations from China Shenhua Energy Company Limited.
During the meeting, China Shenhua proposed to commence Tavantolgoi`s power station, railway construction and mining projects at the same time.
Previously, China Shenhua has expressed incentives to invest in Tavantolgoi coal deposit. The company has won the bid, announced by the previous government, establishing a consortium agreement jointly with the Energy Resource LLC and Japanese Sumitomo Corporation.
According to the consortium agreement, China Shenhua has announced to invest US$ 4 billion to Tavantolgoi coal deposit. However, a working group, led by MP L.Erdenechimeg deferred the agreement, noting that the agreement would result in significant loss to our country.
Following, due to the coal price drop on international market, the negotiations on the agreement have been halted.
China Shenhua expressed incentives to invest Tavantolgoi coal deposit after the establishment of new Government of Mongolia, led by Prime Minister J.Erdenebat.
Mongolia is to violate the recommendations, approved by the National Security Commission, if Shenhua Group operate alone in Tavan Tolgoi group deposits​. Because China plays important role in the foreign trade and foreign investment of the country. Meanwhile, the recommendations, approved by the National Security Commission does not support too much dependence on foreign countries.
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Coking coal price savaged – biggest drop in 17 months www.mining.com

 
While the price of futures trading in China and Singapore were swinging wildly in recent weeks, the benchmark for the seaborne market – Australia free-on-board premium hard coking coal tracked by the Steel Index – seemed to consolidate above $300 a tonne.
 
But now it seems volatility has returned to the spot market and the multi-year high of $308.80 for PHCC first hit a month ago may have been the peak. On Thursday the price dropped 2.5% to $291.70 a tonne. It was the steepest decline since July 2015.
 
Still, the steelmaking raw material is up fourfold in value over the past year and quarterly contract negotiations between producers and steelmakers could turn out to be the best indicator of where coking coal is heading.
 
In its monthly coking coal review TSI says December will mark the start of the quarterly benchmark negotiations, with rumours are floating around that teams from the major miners will arrive in Japan around the second week of the month to kick-off discussions:
 
On the 1st Dec 2016, the spread between the FOB PHCC index and Q4’16 benchmark differed by US$108/t, and the Japanese steel mills—”JSMs” – will be wary of making panic buys during this period in order to avoid pushing the indices higher.
 
A quick survey revealed that market participants expect the Q1’17 benchmark price to range anywhere between US$250-280/t.
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Copper price jump: China concentrate imports hit record www.mining.com

 
The copper price hit an 18-month high on an intraday basis last week as global manufacturing activity continues to pick up and hopes about US president-elect Trump's $500 billion infrastructure plans lift sentiment.
 
Copper price jump: China concentrate imports hit recordWhile it's pulled back from those levels since, official customs data from China, responsible for some 45% of global consumption of the red metal, released on Thursday is seeing the metal turn positive again.
 
In overnight trade on Friday copper for delivery in March, the most active contract, was exchanging hands for $2.6575 per pound ($5,858 a tonne), up 1.2% from Thursdays close on the Comex market in New York.
 
While China's copper imports surged 31% to 380,000 tonnes in November compared to October, shipments were down 18% year on year. Concentrate imports however hit an all-time high last month of of 1.76 million tonnes. Year to date shipments are up 31% year on year at 15.4 million tonnes.
 
After vastly underperforming other metals and steelmaking raw materials in 2016, copper has been playing catch-up and is now up 37% from six-year lows hit mid-January this year.
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Mongolia to boost transport ties with Eurasian Economic Union www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The Third Session of the UN Ministerial Conference on Transport is being held in Moscow on December 5-9. A Mongolian delegation headed by Minister of Road and Transport Development D.Ganbat is paying a working visit to Russia between the 7th and 9th.
 
As a part of the visit, Minister D.Ganbat held a business meeting with the Minister of Energy and Infrastructure of the Eurasian Economic Union, A.O.Junusov on December 7. Present were, Ambassador Extraordinary and Plenipotentiary of Mongolia to the Russian Federation B.Delgermaa.
 
The sides touched upon the follow-up actions of the Memorandum of Understanding on Cooperation between Mongolia and the Eurasian Economic Union, specifically, the further development of transport cooperation between Mongolia and the EEU member states, cooperation in realization of projects agreed in the margin of the Programme on Establishing Mongolia-Russia-China Economic Corridor, alleviation of conditions for Mongolian transit transportation going through territories of EEU members, and strengthening the carrying capacity of transit transport of Mongolia.
 
The dignitaries also agreed on setting up a working group in approximate future to prepare the draft of cooperation document in order to lay the legal foundation for intensifying the cooperation in the transportation sector.
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