1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      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     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     МАНАЙ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛ ДЭЭШИЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/16     “ЭРДЭНЭС-ТАВАНТОЛГОЙ” 40 САЯ ДАХЬ ТОНН НҮҮРСЭЭ ОЛБОРЛОЖЭЭ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/07/16    

Events

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

NEWS

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Russian diplomat 'beat Mongolian rapper over Swastika outfit' www.bbc.com

A top Mongolian rapper was beaten into a coma by a Russian diplomat after wearing a swastika on stage, his lawyer and family have claimed.
Amarmandakh Sukhbaatar was performing in the country's capital Ulan Bator when the alleged attack took place.
Russian news reports said he was hit over the head with a bottle and repeatedly kicked in the face.
The Russian embassy said it was investigating, but called local press reports "distorted".
The rapper had taken to the stage in a red deel - a Mongolian robe - embroidered with a swastika.
Though associated with the Nazis, the swastika is a traditional symbol in Mongolia that pre-dates Hitler.
Reclaiming the swastika
Mr Sukhbaatar's father, Sevjidiin Sukhbaatar, told a news conference that his son spent about 10 days in a coma after the beating.
"My son was hit in the face several times with a metal object and was seriously injured. His brain was seriously hurt," he said.
Mr Sukhbaatar displayed a book of traditional swastika patterns to emphasise that it is not a hate symbol in his country.

The Russian official accused of attacking the rapper has not been identified.
In a statement, the Russian embassy said it was investigating press and social media reports of the assault.
"According to our preliminary information," it said, the reports were "distorted, particularly about the date, the number of participants and the circumstances of the accident".
Tens of millions of Soviet citizens died fighting the forces of Nazi Germany during World War Two.
Symbol of eternity
The swastika is believed to have originated in India thousands of years ago, and was used in Mongolia as a symbol of eternity centuries before the Third Reich.
Amarmandakh Sukhbaatar - who is known as Amraa and is the lead singer of the band Khar Sarnai [Black Rose] - frequently wears the symbol on stage, and his songs often refer to his country's history, culture and identity.
The swastika is also used by groups on Mongolia's far-right however.
The musician's lawyer, father, and a band member denied reports on social media that he shouted "Heil Hitler" at the show.

Lawyer Gankhuugiin Batbayar said the suspect in the beating had not been arrested, adding: "[He] must be investigated according to Mongolian law, no matter his status or immunity as a diplomat".
A police spokesman told the AFP news agency that the case was under investigation.
"The suspect is a Russian diplomatic officer and the reason he wasn't kept in detention is the injury is not serious," he said.
"It's not true that the suspect wasn't arrested because of diplomatic immunity."

 
 
 
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Switzerland's age of banking secrecy coming to an end www.rt.com

The Swiss government plans to dramatically increase international cooperation on fiscal transparency, sharing private information about clients of the country's banks.
The automatic exchange of information (AEOI) on bank accounts will be spread to 22 more countries, including Argentina, Mexico, Brazil, and Uruguay as well as India and South Africa, according to the Federal Department of Finance.

The move aims to put an end to Switzerland's long-protected banking secrecy practices as well as stopping wealthy foreigners from hiding their undeclared income in the country.

The AEOI system is a global standard introduced by the Organization for Economic Cooperation and Development (OECD) to fight tax evasion. As part of the regulations, all banks are obliged to send client information to national tax authorities with data on foreign residents to be shared with tax authorities in the customers' home countries.

Switzerland has been the focus of debate on black money allegedly stashed by foreign residents behind its strong banking secrecy walls.

Consultations will be held next March with the accords expected to come into force by January 2018 and information exchange to start a year later, according to the statement.

The government says, “This will contribute to strengthening the competitiveness, the credibility, and integrity of Switzerland's financial center.”

Switzerland has already agreed to automatic information exchange agreements with 38 other countries, including all of the EU, Gibraltar, and Australia. Data sharing will start as soon as the next year.

The Swiss parliament is currently contemplating similar pacts with Canada, Japan, South Korea, Iceland, Norway and the British crown dependencies of Jersey, Guernsey and the Isle of Man.

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Hong Kong shares wipe out week's gains as U.S. yields rise www.asia.nikkei.com

HONG KONG (NewsRise) -- Hong Kong shares erased gains accumulated during the week as renewed concern over outflows amid a further rise in U.S. bond yields overshadowed a rally by energy stocks after Organization of Petroleum Exporting Countries agreed to cut output.

The Hang Seng Index declined 0.7% for the week as it slid 1.4% to 22,564.82 Friday. The decline wiped not just this week's advance, but also a part of the 1.7% relief rally between Nov. 21 and Nov. 25 that halted a four-week losing streak.

Galaxy Entertainment Group and Sands China, investor darlings and the gauge's best performers this year, fell at least 3.9% on Friday to rank among the worst performers during the week. The losses came amid reports that Macau will require travelers to and from the former Portuguese colony to disclose cash equivalents in excess of $15,000. CNOOC added 3% and PetroChina rallied 2.4% this week following OPEC's agreement to cut members' oil output. Brent crude rallied almost 7% overnight, adding to Wednesday's near 9% jump.

U.S. 10-year yields rose to the highest level since June last year overnight amid soaring crude prices and as manufacturing activity data beat expectations. Nervousness ahead of today's U.S. jobs data also contributed to the rally in yields.

In addition to the U.S. nonfarm payrolls data for November due later Friday, which may further bolster the case for a rise in U.S. borrowing costs in December, European event risk and political uncertainty also kept investors concerned. Italy holds a referendum on constitutional reform and Austrians will vote in a president on Sunday. Also seen as adding to the uncertainty, French President Francois Hollande has said he won't seek a reelection.

"There are lots of good reasons for people to be cautious again," said Andrew Sullivan, managing director for sales trading at Haitong International Securities in Hong Kong. The Hang Seng Index "tested 23,000 yesterday, but was unable to hold or build on that, so it's not unusual for the market to test and see where the support is and where the resistance is."

Regional stocks fell as well, with the Nikkei Asia300 Index dropping 0.9% to 1,043.86.

Over in mainland markets, the Shanghai Composite ended 0.9% lower on Friday for a weekly decline of 0.6%, its worst performance since the end of September, as 10-year bond yields rose above 3%, fueling concerns that liquidity conditions were becoming tighter.

The yuan was poised for its best weekly performance in four months, having strengthened 0.5%, as the central bank stepped up efforts to contain the currency's fall. It was little changed at 6.8826 to a dollar on Friday.

China is expected to release November inflation figures next week, as well as monthly foreign reserves data, which may signal how active the nation's central bank has been in the market as the yuan weakened to eight-year lows.

 
 
 
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Huanghua Port becomes China's largest for coal transportation www.chinadaily.com

SHIJIAZHUANG - Huanghua Port in northern Hebei province has become China's largest port for coal transportation, according to a press conference Thursday.

The throughput of the port reached 204 million tons in the first 10 months of the year, a year-on-year growth of 49 percent, Zhao Zhenqing, chairman of the Cangzhou Port Group told the press conference.

With total investment of more than 60 billion yuan ($8.7 billion), a sea channel capable of taking 200,000-ton ships, with 33 berths for ships weighing more than 10,000-tons, has been built at the port.

The port launched its first freight train bound for Duisburg, Germany, in June. It also opened its first international direct flight to Southeast Asia in September. So far over 20 ship companies have opened 13 container shipping lines starting from the port.

The rapid development of the port will support the Beijing-Tianjin-Hebei regional integration and the Belt and Road Initiative, said Zhang Guodong, director of the administration for Bohai New Area in Cangzhou City.

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China's WeChat is censoring group chats www.cnn.com

One of China's most popular apps is censoring users' private messages at home and abroad, according to a new report.
WeChat messages containing keywords mentioning sensitive topics such as the Tiananmen Square massacre, Tibet or the banned spiritual movement Falun Gong were censored in private and group chats without users' knowledge, according to a report published by Toronto-based Citizen Lab.
"Keyword censorship is no longer transparent," the report said. "In the past, users received notifications when their message was blocked; now censorship of chat messages happens without any user notice."

That censorship extends to users living abroad linked to an account originally registered with a Chinese phone number, even if the user has switched their account to an international number.
Researcher Jason Ng said that censorship is done by phone number because that enables WeChat to target all Chinese users regardless of whether they use a virtual private network (VPN) or other means of avoiding the sprawling censorship apparatus known as the Great Firewall of China.
Chinese users are censored wherever they are in the world, and regardless of who they are talking to.
"(Beijing) promotes maintaining ideological connections and guidance with Chinese citizens overseas, particularly for students studying abroad," the report said. "Tencent may be pressured to ensure filtering persists for Chinese users in any location."
Tencent (TCEHY), the tech giant that owns WeChat, said in a statement that it "respects and complies to local laws and regulations" of countries where it operates.
"WeChat...will always adhere to Tencent's core mission to create value for our users by providing high-quality, secure user experiences," the company added.
WeChat doesn't filter all messages "because they don't want international users to experience censorship," Ng said.
More keywords are blocked within group chats -- where users can broadcast their thoughts to up to 500 people at once -- than within private message groups, Citizen Lab found.

WeChat has more than 806 million monthly active users. It started as a simple messaging app, but has come to encompass gaming, mobile payments, ride hailing and e-commerce.
All Chinese social networking apps censor and restrict content by law. Citizen Lab has previously documented how WeChat deletes sensitive posts made using its "public accounts" feature, which operate like a Facebook page for businesses or celebrities.
Ng has also tracked censorship of private messages. He said in the past when a message was blocked, users received a warning note that they had used "restricted words" or that the message could not be sent "due to local laws, regulations, and policies."
In the most recent study, Citizen Lab found that the term Falun Gong was censored in a private message between a Chinese-registered account and one with a Canadian registration, but neither user was made aware that the deletion had taken place.
Ng said he "would not be surprised at all" if messages containing sensitive keywords were also being surveilled or monitored by Chinese security services.
"Censorship on WeChat (now resembles) how the Great Firewall of China operates, which is by design opaque and unaccountable," the report said.

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Sharp considering closing electronics parts plant www3.nhk.or.jp

 
Japanese electronics maker Sharp is considering shutting down a parts plant in western Japan. This is part of the firm's restructuring efforts as it rebuilds itself under Taiwan's Hon Hai Precision Industry, or Foxconn.
 
Officials say the Mihara plant in Hiroshima Prefecture could be closed next fiscal year. The factory makes LEDs and other parts for TVs and lighting equipment.
 
They're thinking about moving its operations to another plant in the same prefecture. The roughly 300 people working there would be transferred.
 
The firm is also planning a capital boost for its affiliate Sakai Display Products, which produces liquid crystal display panels.
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Investment for space tourism www3.nhk.or.jp

 
Japanese airline ANA Holdings and travel agency HIS will invest in a venture firm aiming to send travelers into space.
 
The two companies will plow about 440,000 dollars into PD AeroSpace to help develop a passenger spacecraft.
 
They are hoping the first mission will blast off from December 2023. The cost of a trip for one person is expected to be around 120,000 dollars.
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CHARTS: Death of the coking coal contract www.mining.com

 
Coking coal prices retreated on Friday, but only slightly, holding above $300 a tonne after two months of insane gains.
 
According to data provided by the Steel Index premium Australia hard coking coal prices have tripled since the beginning of July exchanging hands for $308 this week following multi-year lows around $70 a tonne in November last year.
 
The surge in seaborne price is wreaking havoc on markets for the steelmaking raw material which is still traded on a quarterly contract basis.
 
Japanese steel mills and various Australian producers agreed to a price of $200 a tonne for premium coking coal deliveries over the last quarter of the calendar year.
 
While this represents a rise of 116% over the previous quarter, it's of course a very long way away from spot prices.
 
With first quarter 2017 negotiations due to kick off soon, how much longer producers will tolerate this discrepancy is unclear, but most bets are on met coal moving increasingly to a spot market just like the iron ore trade did a couple of years back.
 
The seaborne coal rally was spurred by supply issues after Beijing’s decision to limit coal mines' operating days to 276 or fewer a year from 330 before as it seeks to restructure the industry.
 
Chinese government stimulus plans which saw steel production pick up only added fuel to the fire, but much of the latest gains and volatility have been blamed on credit-fuelled speculation on futures markets in China, and may not reflect real demand.
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World’s Longest Traffic Jam Points to Mongolia Recovery www.fronteranews.com

Over 60 kilometers, they line up: truck after truck, after truck. Nearly every one of them is laden with coal.

The world’s longest tailback has been building for months and has varying drivers: first, China’s drought prompted Beijing to slash water-intensive coal production; last, President-elect Donald Trump fanned revival for the least loved of commodities by casting doubt on the world’s commitment to outmode coal.

In the background, a newly installed government in Ulaanbaatar was quietly negotiating its way out of the economic crisis it inherited.

Last week, those negotiations came out into the open. Erdenes Tavan Tolgoi, the state-owned miner of the world’s largest undeveloped coal deposit, announced it had negotiated an 85% price jump in its average selling price to $50 a ton from December, rising to $60 for 2017. Mongolia had been selling its coal at only $32 as part of a settlement for debt owed to the Aluminum Corporation of China, or Chalco. In another part of Tavan Tolgoi, Mongolia Mining Corp. had already struck a deal to sell its premium washed variety of coal at $107.

So what’s the big deal? Right now, Mongolia is pleading poverty. Mounting debt has driven the government into talks with the International Monetary Fund. It’s been whacked with two credit rating downgrades in as many weeks.

Yet, sales of coal – coupled with rising earnings from the country’s other main resources, namely copper, gold and iron ore – appear destined to rescue this nation of 3 million people, with or without foreign handouts.

Interviews with drivers and border guards indicated that around half – or 1,500 trucks – make it across the border each day. That equates to around 135,000 tons every day. That’s 4,050,000 tons per month, or 48,600,000 tons annually.

How much annual revenue will 48.6 million tons of coal exports bring to Mongolia? Based on a mid-price between the $60 and $107 so far achieved at Tavan Tolgoi, the consignment at $83 a ton equates to over $4 billion – just from coal.

In a report published by Frontera News earlier this month, Nick Cousyn, the Chief Operating Officer for BDSec, Mongolia’s largest broker and investment bank, arrives at a similar conclusion, albeit via a different route:

“It doesn’t take Herculean assumptions to expect that through improvements and reform, Mongolia’s coal companies can collectively produce 40 million tons next year,” writes Cousyn. Basing his math on the price achieved by Mongolia Mining Corp., Cousyn continues:

“At an average price of $105 per ton, that would represent more than $4 billion in economic activity for the sector – or an increase of over $3 billion compared with an estimated $960 million for 2016. For Mongolia’s $12 billion economy, this would mean a 25% jump in GDP, returning the economy to the type of dizzying growth rates seen last decade.”

As border crossings go, Mongolia’s seems an interesting space to watch.

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China imposes new fees on the Mongolian border crossing www.gogo.mn

The Gants Mod crossing (China) and the GashuunSukhait crossing (Mongolia) is a major border crossing between China and Mongolia, used by some of Mongolia's biggest mines, including Erdenes Tavantolgoi, Tavantolgoi and Energy Resources.

On 22 November, the authorities in charge of Gants Mod crossing in Inner Mongolia, China have imposed new fees on commodity shipments between the two countries..

Under the newly-imposed fees, a transit fee of 10 yuan ($1.45) will be charged on vehicles each time they pass through the border, and an additional charge of 8 yuan per tonne will be imposed on any goods that they are delivering.

For precious metals and copper concentrate worth more than 10,000 yuan per tonne, exporters will be charged 0.2 percent of the total value of the cargo, the notice said, adding that the new charges would come into effect on 1 December. Although this is only one border crossing, as it is a major crossing these fees could cost the coal industry up to as much as 12.2 million USD [per annum].

Reuters said that local government officials contacted by Reuters on Thursday could not confirm the veracity of the announcement, but a senior industry representative in Ulaanbaatar who is familiar with the matter said the new charges were now in effect.

Chinese Foreign Ministry spokesman Geng Shuang did not confirm whether or not the new border fees were connected to the Dalai Lama's visit, saying that he was unaware of the situation.

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