1 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      2 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      3 RUSSIA AND MONGOLIAN BORDER CROSSING NO. 487 WWW.NEWS.MN PUBLISHED:2018/09/20      4 WORLD ECONOMICS REPORTS THAT MONGOLIA’S EMPLOYMENT RATE HITS A FIVE-YEAR HIGH WWW.GOGO.MN PUBLISHED:2018/09/20      5 USD HITS RECORD HIGH IN MONGOLIA DUE TO HIGHER IMPORTS WWW.CHINA.ORG.CN PUBLISHED:2018/09/20      6 READOUT OF VICE PRESIDENT MIKE PENCE’S MEETING WITH PRIME MINISTER UKHNAA KHURELSUKH OF MONGOLIA WWW.WHITEHOUSE.GOV PUBLISHED:2018/09/20      7 MONGOLIA LAUNCHES EU-FUNDED PROJECTS TO PROMOTE GREEN DEVELOPMENT, ENVIRONMENTAL PROTECTION WWW.XINHUANET.COM PUBLISHED:2018/09/20      8 COAL EXPORTS FROM TOP SHIPPER HOBBLED WITH MINERS FACING CONSTRAINTS WWW.MINING.COM PUBLISHED:2018/09/20      9 FRONTIER'S "INVEST MONGOLIA TOKYO 2018" WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/09/19      10 U.S.-CHINA TRADE TUSSLE IS CREATING WINNERS IN SOUTHEAST ASIA WWW.BLOOMBERG.COM PUBLISHED:2018/09/19      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     СЗХ-НД МӨНГӨ УГААХТАЙ ТЭМЦЭХ НЭГЖИЙГ БАЙГУУЛАХААР БОЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/20     БНХАУ: ОЛОН ТАЛТ, ЧӨЛӨӨТ ХУДАЛДААГ ДЭМЖИЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/20     АТҮТ: БҮРТГЭЛТЭЙ АВТОМАШИНЫ 60 ОРЧИМ ХУВЬ НЬ ҮЗЛЭГ ОНОШИЛГООНДОО ХАМРАГДСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/20     ЭДИЙН ЗАСАГ УРТ ХУГАЦААНЫ ТЭНЦВЭРИЙГ ХАНГАХАД ТӨВЛӨРНӨ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20     ЯПОН УЛСТАЙ АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРТ ХАМТАРНА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/20     МОНГОЛ, АМЕРИКИЙН ХАРИЛЦАА ШАТ АХИЖ, ӨРГӨТГӨСӨН ИЖ БҮРЭН ТҮНШЛЭЛИЙН ТҮВШИНД ХҮРСНИЙГ НОТЛОВ WWW.NEWS.MN НИЙТЭЛСЭН:2018/09/20     ШЕНГЕНИЙ БОГИНО ХУГАЦААНЫ ВИЗИЙН МЭДҮҮЛГИЙГ УЛААНБААТАР ХОТОД АВНА WWW.MEDEE.MN НИЙТЭЛСЭН:2018/09/19     2018 ЭХНИЙ 7 САРД МОНГОЛЧУУД ГАДААД РУУ ЭМЧИЛГЭЭНД ЯВАХДАА 19.5 САЯ АМ.ДОЛЛАР ЗАРЦУУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19    

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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India loses position as world’s fastest-growing economy www.rt.com

 
The International Monetary Fund said India’s growth slowed last year, with the economy falling back behind China. The slowdown is attributed to the Indian government’s demonetization which has caused a cash crisis in the country.
 
According to the IMF World Economic Outlook, India’s economic growth stood at 6.6 percent in 2016 compared with China's 6.7 percent. In 2015, Indian growth was 7.6 percent.
 
The IMF said it had lowered forecasts for India growth in the current fiscal year due to "temporary negative consumption shock" of the currency invalidation.
 
"In India, the growth forecast for the current (2016-17) and next fiscal year were trimmed by one percentage point and 0.4 percentage point, respectively, primarily due to the temporary negative consumption shock induced by cash shortages and payment disruptions associated with the recent currency note withdrawal and exchange initiative," the IMF said.
 
Last week the World Bank also decelerated India's GDP growth for 2016-17 fiscal year to seven percent from its previous estimates of 7.6 percent.
 
Indian Prime Minister Narendra Modi announced in November the government’s decision to withdraw the two largest rupee notes, explaining the move as part of the fight against corruption.
 
The discontinued 500 and 1,000 rupee bills (worth about $7.35, $14.7) made up 86 percent of India's currency in circulation.
 
The dramatic decision caused chaos as cash machines began to run out of money with people rushing banks to exchange the old currency.
 
Government figures showed India grew at 7.3 percent in the quarter that ended in September, before the cash ban.
 
The IMF said it expects India’s economy to recover to 7.2 percent growth this year and accelerate to 7.7 percent in 2018. China is projected to continue decelerating, to 6.5 percent in 2017 and six percent the year after.
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UB city government bans serving and selling of beverage containing alcohol www.gogo.mn

Alcoholic products won`t be sold or served in Ulaanbaatar city from 6pm today until Jan 20th. 
On Jan 16, five people died of poisoning after drinking undefined liquid as reported by the officials, which might be alcoholic product. The undefined liquid is now being examined while the ban on selling and serving of alcoholic products will be effective until the final examination result. 
Police Department warns citizens and entities to cooperate and obey the decision.

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Mongolian investment climate discussion ongoing www.gogo.mn

Mongolian business and private sector representatives and corresponding government officials were invited to a seminar co-organized by Japan International Cooperation Agency (JICA) and Mongolian National Chamber of Commerce and Industry today, January 17.
The seminar is designated to introduce the outcome of a study themed ‘Investment Environment of Mongolia, its improvement’ conducted by JICA.
Launched in December, 2015, the one-year study aimed to provide a report on the investment climate of Mongolia to Japanese companies, help them expand their business in Mongolia, and make recommendations to the planning of JICA’s private sector development programs. The study is also expected to contribute to the development of Mongolian businesses.
The study has been completed, but the conclusion will be made with participation of Mongolian government organizations and private sector representatives. Therefore, the seminar was a platform for Mongolian businesses to express and reflect their views in the final report of the study.
“Since 1990 when Mongolian transitioned to market economy, JICA has been implementing number of projects and programs in various sectors such as education, health, governance, agricultural development, private sector development and transportation”, said Sato Mutsumi, Chief Representative of JICA Mongolia Office in his opening speech.
“Number of Japanese companies interested in doing business in Mongolia come to us; but due to lack of sufficient knowledge on investment climate of Mongolia, we observe hesitation and caution. And this study will solve the problem”, he said.
Mongolia and Japan signed an Economic Partnership Agreement in June 2016.

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Putin's Judo Partner Awarded $285M Contract For Crimea Railway www.themoscowtimes.com

The general contractor for the construction of a railway line on the Kerch bridge between Russia and Crimea will be Arkady Rotenberg's company Stroygazmontazh, Kommersant reports. The contract is estimated to be worth 17 billion rubles ($285 million).

The contract for the controversial railway project across the Kerch bridge connecting Russia with the recently annexed Crimean peninsula was awarded to Stroygazmontazh, which is the same company constructing the bridge. The company is owned by a close associate and Judo partner of Russian President Vladimir Putin, Arkady Rotenberg.

Stroygazmontazh received the contract to build a bridge across the Kerch Strait in February 2015. The contract is worth more than 228 billion rubles ($4 billion).

Both the bridge and the railway are scheduled to become fully operational in December 2018.

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Trump tells Germany to buy American automobiles, Germany to Trump: 'Build better cars' www.rt.com

 

Incoming US President Donald Trump's threat to slap a German automaker with a 35 percent import tax has triggered a strong response from Berlin.

Trump threatened to impose the tariff on US-bound BMW automobiles produced at plant in Mexico, scheduled to open in 2019.

"They can build cars for the US, but they'll pay 35 percent taxes on every car that comes to the US," said Trump in an interview with German newspaper Bild.

Trump suggested BMW should build a factory in the US, not in Mexico. “It would be much better for them and for our efforts," he said, translated into German.

The plant is scheduled to open in 2019 to produce the BMW 3 Series sedan. The carmaker said production is destined for the world market, not exclusively for America. The plant in Mexico will complement existing sites in Germany and China.

Germany's Vice Chancellor and Economy Minister Sigmar Gabriel told Bild that imposing such tariffs would make "the American auto industry worse, weaker and more expensive."

Trump also accused German cars producers of unfair behavior. There is a Mercedes-Benz in front of every house on some American streets, he said.

"How many Chevrolets do you see in Germany? Not too many, maybe none, you can see nothing over there, it's a one-way street,” Trump said. The US president-elect added he is pro-free trade, but not at all costs. “It must be a clever trade for me,” he said.

To this, Gabriel replied that "the US needs to build better cars."

The German minister also called for a harder position in trade talks with Trump. "We're not weak and inferior," Gabriel said.

In Frankfurt, BMW shares fell 1.42 percent after Trump’s interview, while shares in Daimler AG slid 1.31 percent. Volkswagen was 1.27 percent down.

After Trump’s threats of tariffs, Ford has given up a plan to build a $1.6 billion plant in Mexico and instead promised to create 2,000 jobs in the US. General Motors has no plans to move small car production to the US from Mexico because of Trump’s criticism of the company, said CEO Mary Barra.

 
 
 
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China probes 'fake seasoning producing hub' near Tianjin www.bbc.com

Chinese authorities are investigating nearly 50 factories allegedly manufacturing fake versions of widely used food seasonings and sauces.
It comes after Beijing News reportedly uncovered the elaborate operation near the city of Tianjin.
The factories were using unapproved ingredients like industrial salt in seasonings including soy sauce and vinegar, the paper said.
The products were labelled with brands including Maggi, Knorr, and Nestle.
The seasonings, which include spices and chicken stock, are commonly used in Chinese cooking and can be widely found across Asia.
China has been rocked by various food scandals in recent years, with tainted milk powder killing six babies in 2008 and making more than 300,000 children ill.
Unhygienic conditions
The China Food and Drug Administration (CFDA) said in a statement on Monday evening that it had dispatched officers to Tianjin to investigate the claims.
The Beijing News report said a "fake food seasoning manufacturing hub" had grown unchecked for more than 10 years in the town of Duliu near Tianjin.
Nearly 50 small factories, operating in a residential area, had been churning out fake seasoning estimated to be worth up to a 100m yuan ($14.5m, £12m) per year.
Reporters and local police visited the factories last week, acting on a tip-off from a whistleblower.
Pictures and video taken at the scene show workers making and packaging the products in dirty sheds using homemade equipment like plastic drums and garden hoses.
The factories were said to have used industrial grade salt unsafe for human consumption. They also recycled by-products from other food manufacturers, and were seen freely using highly regulated ingredients like the artificial sweetener cyclamate.
'Thoroughly rectify'
Beijing News quoted Nestle's China office as saying that its anti-counterfeit team was looking into the matter, and that "product experts will be helping law enforcement representatives in identifying suspicious products".
Chinese food brands such as Totole and Donggu, whose products were also faked, said they were either assisting investigations or conducting their own probes.
Totole added that it had known about the factories since 2007, and its anti-counterfeit team had conducted numerous crackdowns in Duliu, but had been unable to completely stamp them out.
The sheer scale of the operation revealed in local media shocked a country that is no stranger to food scandals, prompting questions online.
"Shouldn't the CFDA be the one that is punished? A whole village has been faking products for so many years. Can we still trust this department?" said one commenter on the CFDA's Weibo page.
"How many people have been poisoned by these fake products? Seasoning impacts so many lives, this is no game!" said another user.
The Food and Drug Administration said in its statement that it would "thoroughly rectify the problem of fake food seasoning production, and present the results of our investigation to the public in a timely fashion".
In 2014, the Shanghai Husi Food Company, a meat supplier to fast food chains McDonalds and KFC in China, was found to be repackaging old meat.
The following year authorities seized 100,000 tonnes of smuggled meat, some of it more than 40 years old.
Last month Chinese media reported that food suppliers in the north-western city of Shanxi were treating mushrooms with hazardous chemicals to make them look whiter and fresher.

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Alibaba joins with name brands to fight counterfeits www.xinhuanet.com.cn

 
HANGZHOU, Jan. 17 (Xinhua) -- China's e-commerce giant Alibaba said Tuesday that it had joined with 20 brands to fight counterfeit goods through big data analysis.
 
The first "alliance to fight counterfeits with big data" was initiated by Alibaba Tuesday in Hangzhou, capital of eastern China's Zhejiang Province, the company said.
 
Among the first 20 members of the alliance are Chinese and international brands, including Huawei, LV, Swarovski, Dulux, Samsung, Sony and Bioderma.
 
Alibaba said the move would make the fight against counterfeiting more powerful and transparent.
 
The move was backed by police authorities in many provinces across China.
 
"Counterfeiting is rampant in the global market these days, and it's increasingly difficult to eradicate bogus goods using traditional offline means," said Jessie Zheng, Alibaba Group's chief platform governance officer.
 
She said that Alibaba Group was willing to join the fight against counterfeits with its technologies and resources in order to protect consumer rights.
 
Based on Alibaba big data analysis, Chinese law enforcement authorities closed 675 workshops, warehouses and vendors producing and selling fake goods, from September 2015 to August 2016.
 
Over the same period, Alibaba Group closed 180,000 stores on its shopping platform Taobao.com.
 
"Alibaba's big data and cloud computing technologies provided strong technical support and improved efficiency in our fight against counterfeits," said Wang Hui, deputy chief of the economic crime investigation team under Zhejiang public security bureau.
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Mongolia plans to establish casino resorts www.mongolia.gogo.mn

 
Mongolia is moving forward with plans to establish casino resorts in an attempt to tap into Asia’s lucrative gambling business and boost its tax revenue.
The Judicial Standing Committee decided to establish a working group to draft legislation for the development of casino resorts. An earlier casino bill was submitted in 2012 and received much support in the State Great Khural, but it was not passed.
The new legislation proposes a model currently used in Vietnam, South Korea and Cambodia, where only foreign nationals are permitted to gamble in specially created resorts, often near the border or international airports. Under the new bill, Mongolia will establish two casino resorts.
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Buffett's Berkshire Hathaway wins reinsurance licence in Malaysia www.reuters.com

 
Warren Buffett's Berkshire Hathaway (BRKa.N) has won a licence to provide reinsurance services in Malaysia, the billionaire investor's group said, as it expands operations in Asia.
 
Berkshire Hathaway Specialty Insurance Company (BHSI) said in a statement on Monday it has established an office in the Malaysian capital Kuala Lumpur to provide the non-life reinsurance services.
 
"After putting down roots in Singapore, Hong Kong, and Macau, we are pleased to further expand our operations in Asia...," BHSI Asia President Marc Breuil said in the statement.
 
The southeast Asian nation has attracted several insurers lately, who are eyeing its long-term potential. Canada's Sun Life Financial Inc (SLF.TO) and Malaysian sovereign wealth fund Khazanah Nasional [KHAZA.UL] were in talks to buy Hong Leong Financial Group Bhd's (HLCB.KL) insurance business, Reuters reported last year.
 
Reuters also reported that Tokio Marine Holdings Inc (8766.T) was in exclusive talks to buy RHB Bank's (RHBC.KL) general insurance unit.
 
BHSI is part of Berkshire Hathaway's National Indemnity group of insurance companies. National Indemnity has $194.4 billion in total admitted assets and $112.2 billion in policyholder surplus, according to BHSI's website.
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General Motors to announce $1 billion in U.S. investment www.reuters.com

General Motors Co (GM.N) will announce as early as Tuesday long-held plans to invest about $1 billion in its U.S. factories, following recent criticism of the company by President-elect Donald Trump, a person briefed on the matter told Reuters late on Monday.

The largest U.S. automaker is making the decision for business and not political reasons, said the person, who asked not to be identified.

The investment will help GM create or retain more than 1,000 jobs, while the automaker also plans to tout other efforts to boost U.S. employment, including adding engineers, the person added.

GM General Counsel Craig Glidden told the Wall Street Journal, which reported the company's plans earlier on Monday, that any investment the company might disclose had been long planned and was not a response to Trump's criticism.

GM declined comment on the investment to Reuters.

Since the beginning of this year, GM has come under heavy criticism from Trump for building vehicles in Mexico, as have other automakers. On Jan. 3, Trump threatened to impose a "big border tax" on GM for making some of its Chevrolet Cruze compact cars in Mexico.

At a news conference last week, Trump cited recent U.S. investments by other automakers and said "General Motors will be following, and I think they will be."

Trump, who campaigned hard on bringing manufacturing jobs back to the United States, said in an interview with German newspaper Bild published on Monday that he would impose a border tax of 35 percent on German car companies' vehicles imported to the U.S. market.

Earlier this month he criticized Toyota Motor Corp's (7203.T) plans to move production of the Corolla to Mexico from Canada.

Auto sales have been rising since 2009 and hit a new record in 2016. Automakers have recently been touting American investments, but say the investments have not been in response to Trump.

Last week, Japan's Toyota said it would invest $10 billion in the United States over the next five years, while Fiat Chrysler Automobiles NV (FCAU.N) said it would invest $1 billion to modernize two plants in the Midwest, creating 2,000 jobs.

Ford Motor Co (F.N) announced this month it would cancel a planned $1.6 billion factory in Mexico and would invest $700 million at a Michigan plant.

GM's "general plan is to build where we sell and we're focused on what we're doing in the United States," Chief Executive Mary Barra said in an interview with Reuters on the sidelines of an event in Washington on Monday. "We're a global company so we're going to continue that focus."

Barra, who told Reuters she planned to attend Trump's inauguration on Friday, said GM wants to work with him. "I do believe we have more in common than we have areas that we aren't aligned."

GM, which has more than 40 manufacturing sites in the United States, last year announced $2.9 billion in U.S. investments

But even as GM invests in U.S. plants, it has also been making job cuts. In recent months, GM announced plans to lay off about 3,300 employees at three factories.

It said in November it would cut about 2,000 jobs when it ends the third shift at its Lordstown, Ohio and Lansing, Michigan plants in January. Last month it said it planned to cancel the second shift and cut nearly 1,300 jobs from its Detroit-Hamtramck assembly plant in March.

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