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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Age of Apple is over, says Peter Thiel www.rt.com

Arguably the most desired smartphone in the world, Apple’s iPhone, is losing popularity, says PayPal co-founder and first Facebook investor Peter Thiel.

When asked if "the age of Apple is over” by The New York Times, Thiel answered: "Confirm. We know what a smartphone looks like and does. It’s not the fault of Tim Cook, but it’s not an area where there will be any more innovation."

In October, Apple reported its first annual revenue decline in 15 years, as for the first time iPhone sales slumped. In the three months ending September 24, the Cupertino, California company said its revenue dropped about nine percent year on year.

Apple’s annual sales fell to $216 billion in the 2016 fiscal year ending September 30, down from a record $234 billion the year before.

The company’s sales in China, once a catalyst for growth, declined 30 percent year on year as the tech company faces competition from local producers like Xiaomi and Huawei that make more affordable smartphones with a similar set of functions.

Some analysts say the the world may have reached “peak Apple,” as nearly everyone who wants and can afford an iPhone and other products already has one.

The iPhone was first launched in June 2007, transforming the telecoms industry. However, Apple is facing increased competition from smartphones running on Google’s Android, and other gadgets.

Thiel co-founded PayPal in 1999 and became Facebook's first outside investor after acquiring a 10.2 percent stake for $500,000 in 2004.

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China, Japan, ROK discuss trade, investment in FTA negotiations www.chinadaily.com.cn

 
BEIJING - Delegates from China, Japan and the Republic of Korea (ROK) discussed goods and services trade and investment as they met in Beijing on Wednesday for the 11th round of trilateral free trade agreement (FTA) negotiations.
 
Vice-Minister of Commerce Wang Shouwen led the Chinese delegation, the Ministry of Commerce said in a statement.
 
Since their launch in November 2012, China-Japan-ROK Free Trade Agreement negotiations have been carried out.
 
The three parties agreed that the establishment of a trilateral FTA will help give full play to their advantages, unleash the economic vitality of the three countries and boost regional prosperity and development.
 
In November 2015, leaders from the three nations reiterated in a joint statement that they should accelerate the FTA negotiations.
 
China is the largest trading partner of Japan and the ROK. The three countries, whose combined GDP accounts for around 20 percent of that of the whole world, would constitute one of the three largest economic blocs, along with the European Union and North America, both of which already have FTAs among themselves.
 
 
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Import restrictions on right-hand drive vehicles to be developed www.mongolia.gogo.mn

 
During the cabinet meeting on January 11, Minister of Road and Transport Development D.Ganbat introduced a decision about import restrictions on right-hand drive vehicles used more than 6 years.
As Mongolia has a standard of right-hand traffic, all regulations related to Mongolia’s traffic are designed for vehicles with steering wheel on the left. It means that all laws, rules, standards and road traffic safety regulators will be in correspondence to the left-hand side cars. However, vehicles to Mongolia have increased in the past decade.
According to studies, nearly 48 percent of all vehicles in Mongolia and nearly 55 percent of all cars in Ulaanbaatar have steering wheels on the right side.
In 2015, some 41,064 traffic-related accidents occurred, 64.4 percent of which were involved by vehicles with steering wheels on the right side.
Obligations were given to D.Ganbat, Minister of Road and Transport Development to develop a concrete proposal related to import restrictions on right-hand drive vehicles that are used more than 6 years.
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Railway route in direction to ‘Erdenet-Ovoot’ defined www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Railway route in direction ‘Erdenet-Ovoot’, on which railway from Erdenet city of Orkon province to Ovoot coal mine in Tsetserleg soum of Khovsgol province is to be put, was defined during yesterday’s Cabinet meeting.
 
Relevant minister and chairmen of agencies were instructed to develop detailed feasibility study of the railway construction and engineering plan as well as to register the approved route coordination in National Space data.
 
The railway in direction of ‘Erdenet-Ovoot’ will enable putting products of mines in Khovsgol, Bulgan and Orkhon provinces into circulation, improving their efficiency and the development of tourism. Further basis for integrated transportation network will be founded to connect mines, industrial complexes and rural areas with railway.
 
‘Erdenet-Ovoot’ railway will be 542 km long with two basic stations and 8 junctions. It will have a capacity of 22.2 million tons/year, with transportation freight of 20 million tons/year and passing capacity of 16 pair of trains.
 
According to preliminary estimation, construction basis of the railway costs USD1.3 billion. 10 tons of mining products is estimated to be extracted in Ovoot coal mine in a year for further transportation.
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Dasin Retail Trust set to become Singapore's first IPO in 2017 www.asia.nikkei.com

 
SINGAPORE (NewsRise) -- Dasin Retail Trust is looking to raise around 150 million Singapore dollars ($105 million) from investors in Singapore in what will be the city-state's first initial public offering for 2017.
 
Dasin, which owns three shopping malls in the southern Chinese city of Zhongshan, has begun the book-building process and hopes to price the units on offer by Thursday, two bankers familiar with the deal said on Wednesday. The units will be offered to investors at 80 Singapore cents each, which works out to a dividend yield of around 8.5%.
 
Together with units held by the sponsor Zhongshan Dasin Real Estate Co., a developer, and cornerstone investors, the trust is expected to have a market value of around S$440 million when it starts trading, according to a draft prospectus dated Dec. 28 filed on the Monetary Authority of Singapore's Opera website.
 
Dasin hopes to publish its final prospectus by the end of this week, the sources added.
 
DBS is the lead manager for the IPO.
 
Singapore Exchange (SGX) is a popular listing venue for real estate investment trusts (REITs) and other property trust structures that pay regular dividends out of the rents received. Last year, property trusts accounted for three of the four largest new listings on SGX.
 
However, the bourse has also been hurt by a spate of de-listings, due in part to low valuations in recent years. Departures from the bourse last year included household names like Neptune Orient Lines, subway operator SMRT, Tiger Airways and massage chair and lifestyle products firm OSIM International.
 
Dasin's planned IPO comes amid a rally in global equities, with Singapore's benchmark Straits Times Index currently trading at 14-month highs.
 
Despite concerns that rising interest rates would make REITs less attractive by narrowing the yield differential, some analysts say the products remain a good investment for investors in search of steady dividends.
 
For example, UBS's private banking arm said in a recent report that central banks "are likely to err on the loose side of monetary policy, even if it comes at the cost of higher inflation. "
 
"REITs provide greater dividend certainty in an uncertain economic climate where earnings uncertainty puts some dividends at risk," the Swiss bank added.
 
Singapore-listed REITs with China properties offer yields around 7.5% based on current prices.
 
According to Dasin's draft prospectus, the initial portfolio will comprise the three Zhongshan-based malls that are valued at 4.6 billion yuan ($660 million). The three properties - Xiaolan Metro Mall, Ocean Metro Mall and Dasin E-Colour - have a combined gross floor area around 315,000 square meters.
 
A fourth property, Shiqi Metro Mall, will be added to the portfolio next year.
 
Zhongshan, located in China's wealthy Guangdong province, is known for the manufacturing of products such as lights, rosewood furniture, metal fittings and electronic acoustics.
 
The city is named after Sun Yat-sen, the founding father of modern China, whose name in Mandarin is Sun Zhongshan.
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Mark Carney signals Bank of England may raise forecast for UK economy www.theguardian.com

 
The Bank of England looks set to upgrade its forecasts for the UK economy after admitting that some of the risks posed by the Brexit vote last June have now receded.
 
Giving evidence to the Treasury select committee, governor Mark Carney said the Bank’s actions to avoid a market meltdown after the referendum were a key reason why Threadneedle Street might be raising its forecasts for a second time.
 
Carney also said the government needed to agree a transition deal for quitting the EU and insisted that Brexit posed a greater risk to the remaining members of the EU than the UK.
 
The Bank will publish its latest report on the economy next month and will take on board the stronger than expected performance in the second half of 2016.
 
“I would say, and I’ll say this very lightly, which is that recent data would be consistent with some further upgrade of the forecast but that process has not yet started,” said Carney.
 
In November, the Bank raised its growth forecast from 2% to 2.2% for 2016 and from 0.8% to 1.4% for 2017. Carney said the Bank had helped to “make the weather” through its emergency actions to boost growth taken in six weeks after the referendum.
 
His testimony coincided with another strong performance by the UK’s leading stock-market quoted companies, with the FTSE 100 closing at a record high for a tenth successive day. Share prices for companies which are dependent on their US dollar earnings have been boosted by the continued weakness of the pound, which on Wednesday hit a near 32-year-low against the American currency of just over $1.20.
 
Carney was quizzed by MPs about the forecasting record of the Bank following remarks last week by Threadneedle Street’s chief economist, Andy Haldane, in which he described the collapse of Lehman Brothers as the economics profession’s “Michael Fish moment” – the UK weather forecaster who in 1987 failed to predict a gigantic storm coming.
 
The governor said the Bank’s overly-pessimistic forecast for the economy in the immediate wake of the Brexit vote was less serious than its failure to spot the financial crisis of 2007-08.
 
“This is about the near-term strength of the economy which is absolutely welcome,” the governor said. “Missing the financial crisis is a big deal ... a different order of magnitude.”
 
Carney defended the Bank, saying it had helped the UK through the potentially difficult post-referendum period in two ways: by cutting interest rates and by ensuring the banking system was “rock solid”.
 
While admitting that Brexit still posed financial stability risks, Carney said the other 27 members of the EU now faced a bigger threat than the UK.
 
“I’m not saying there are not financial stability risks to the UK ... but there are greater financial stability risks on the continent in the short term, for the transition, than there are for the UK.”
 
Carney said other EU nations relied heavily on the City for their financial needs and could face major problems if international banks based in London are no longer able to gain easy access to European countries and corporations. “If you rely on a jurisdiction for three-quarters of your hedging activities, three-quarters of your foreign exchange activity, half your lending and half your securities transactions you should think very carefully about the transition from where you are today to where the new equilibrium will be.”
 
Andrew Tyrie, the Conservative MP who chairs the committee, said the governor had given advice to both the government and the EU about the need for transition arrangements. “And he’s also told the UK’s negotiating counterparts in the EU that they, more than the UK, are vulnerable to financial stability risks during the period of transition. I hope they are all listening,” said Tyrie.
 
Carney agreed with the analogy made earlier this week by HSBC bank chief Douglas Flint that the risk posed by Brexit to the financial markets was like a Jenga tower in which it was difficult to know which pieces could be removed without endangering the structure.
 
“I think it’s a decent analogy. I think just like when you play Jenga and you start early on, there are some pretty obvious pieces you can take out without imperilling the tower,” he said.
 
“At some point, losing elements of that has outsized – could have outsized – effects, and these are some of the judgements that the government will have to make,” he added.
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Microsoft staff 'suffering from PTSD' www.bbc.com

 
Two former Microsoft employees are suing the company for not protecting them from the psychological effects of viewing disturbing material.
The two men were left with Post-traumatic Stress Disorder (PTSD) after working at the firm, the lawsuit alleged.
Their jobs involved viewing and reporting material, communicated via Microsoft services, that had been flagged by automated software as being potentially illegal.
Microsoft told the BBC it disputed the claims, and that it offered industry-leading support.
"Microsoft takes seriously its responsibility to remove and report imagery of child sexual exploitation and abuse being shared on its services, as well as the health and resiliency of the employees who do this important work."
It said the balance of protecting internet users while minimising the impact on its employees was a continued learning process.
Saving children’s lives
Henry Soto and Greg Blauert worked for Microsoft’s Online Safety Team, a division responsible for upholding the firm’s legal obligation to pass on any illegal images to the US National Center for Missing and Exploited Children.
When an image is reported, or automated software has “spotted” an issue, a human being is required to view the material and forward it on to the authorities, a Microsoft spokeswoman said.
The company said people with this role are only required to do this particular task for a short period of time - and that they are kept in a “different building” from other staff.
But in papers filed on 30 December 2016, the two men said the company did little to warn or prepare them for the disturbing images they were required to view.
The lawsuit says both men’s efforts were “instrumental” in saving children’s lives and securing prosecutions, but that both were paying a serious psychological toll.
But the documents described Mr Blauert as suffering greatly from this work, contributing to a mental breakdown in 2013. When he expressed his discomfort, it is alleged that he was told to "smoke", "go for walk" or "play video games" as a distraction.
'Horrible and inhumane'
Mr Soto viewed "many thousands of photographs and videos of the most horrible, inhumane and disgusting content one can imagine," the papers said.
"Many people simply cannot imagine what Mr Soto had to view on a daily basis as most people do not understand how horrible and inhumane the worst people in the world can be."
In an internal employee review, Mr Soto was praised by his bosses for having "courage". However, he said the work resulted in him suffering "panic attacks, disassociation, depression, visual hallucinations" as well as the inability to be around young children, including his own son.
Doing so would remind him of "horribly violent acts against children that he had witnessed," the court papers said.
Mr Soto alleged that when he requested a transfer out of the team in 2014, he was told he would have to apply for a new job within Microsoft "just like any other employee". When he was eventually moved to a different section of the safety team, he said he was still being asked questions related to his prior role.
Microsoft disputed this particular detail, saying: "If an employee no longer wishes to do this work, he or she will be assigned other responsibilities."
Wellness
Employees on the Online Safety Team are automatically put on a “Wellness program”, Microsoft said, which included mandatory monthly one-on-one sessions with a counsellor to combat what is referred to as "compassion fatigue".
The company said many measures are taken to minimise the psychological impact on people viewing the material.
The measures include efforts to reduce the "realism" of the content.
Microsoft’s software automatically blurs imagery, lowers the resolution, makes it black and white and separates the audio from video. Images are only seen as thumbnails, not full size.
Furthermore: "Employees are limited in how long they may do this work per day and must go to a separate, dedicated office to do it; they can’t do this work at home or on personal equipment.”
However, a spokeswoman could not speak to whether employees undergo any psychological assessment prior to taking on the work.
Collaboration
Technology companies, particularly those offering web storage or social networking, are under continued pressure to do more to remove images depicting a variety of problems - from terrorist propaganda to child abuse.
The companies are working on better ways to share data so that an image flagged by one company would automatically be removed by another, minimising the number of people exposed to the material.
The lawsuit in this case is suing for an unspecified amount in damages, but also for its suggestions on how to improve the Online Safety Team to be taken on board.
Microsoft confirmed to the BBC it will oppose the lawsuit, but has not yet made its response to the court.
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8th MBD Business Networking: Tax disputes

8th MBD Business Networking:
“Implementation and current situation of disputed tax issues in compliance with Tax Laws of Mongolia for business life: Challenges and opportunities”

mongolianbusinessdatabase.com 2017 01 12

We are pleased to invite you to the 7th MBD Business Networking which will be target in "Implementation and current situation of disputed tax issues in compliance with Tax Laws of Mongolia for business life: Challenges and opportunities" subject on Monday 30, January 2017 between 14.00-17.00 at Executive Excellence Center www.eeibcmongolia.com Galaxy Tower 1003. The following guest speakers will give a short presentation and have close discussion with the participants.

S.Tuul, Director of EDTN tin TMZ, Former member of Tax Dispute Committee, Former Head of Tax Policy, Methodology and Tax collection Department of Моngolian Tax Authority who involved in many different tax laws drafting and developing team since the very first in 1990's.

G.Uuriintuya Founder and Director of Intor Finance TMZ.(CPTA), (CPA), (Certified Auditor) has been worked as an accountant in international mining companies, Head of Financial Department of International organization, internal auditor of group companies before.

For guests interested in attending this event and registration process please contact at tel:77109911, 98994787 e mail contact@mongolianbusinessdatabase.com.

Please register by 5.00pm 28 Jan, 2017 via email providing your full name, company position, tel number and e mail address.
EEIBC's meeting room capacity is limited, so it will be “first come and first serve” basis. (The fee is 20.000 tugrug per person. Will serve by coffee/tea and light food.

Please confirm your registration by your payment to TBD Bank's MBD 427001964 account before your arrival

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Egypt opens gold assets to foreign companies, first time since 2009 www.mining.com

 
Egypt will hold this Sunday its first international tender for gold mining concessions, most of which are located in Sinai and the Eastern Desert, the Egyptian Mineral Resources Authority (EMRA) said.
 
In a statement quoted by Ahram Online, the body said the cost of participating in the bidding round, scheduled to end mid-April, is $1,000. An additional $5,000 will be charged for documents containing detailed information and technical data for each of the five areas up for grabs.
 
The precious metals-rich country, which has had to contend with a severe dollar shortage since tourists and investors fled after the country’s 2011 uprising, said last year that it would hold a bidding round for new mining concessions, the first one since 2009. But the tender was delayed multiple times.
 
Currently, Centamin (LON:CEY) (TSE:CEE) operates the country’s only active gold mine — Sukari. The firm’s shares more than doubled last year as production increased and gold prices rallied.
 
Canadian miner Alexander Nubia International has also a presence in the country’s Eastern Desert, about 800 kilometers (497 miles) southeast of Cairo. The Vancouver-based firm has been exploring in the region for year and it may open its first mine by 2019.
 
Gold could help Egypt boost exports and generate foreign reserves, but it’s now up to investors, who have complained in the past over the commercial terms offered in previous tenders, saying they were unattractive and the main reason the sector remains underdeveloped.
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Amazon halts sales of Indian flag doormat after visa threat www.reuters.com

 
Amazon.com (AMZN.O) removed doormats resembling the Indian tri-color flag from its Canadian website on Wednesday, after an Indian government threat to rescind visas of the U.S. company's employees if they did not stop selling the product.
 
"Amazon must tender unconditional apology," India's external affairs minister Sushma Swaraj said on Twitter. "They must withdraw all products insulting our national flag immediately."
 
"If this is not done forthwith, we will not grant Indian Visa to any Amazon official," she added. "We will also rescind the Visas issued earlier."
 
The doormat, sold by a third-party on Amazon's Canadian portal, was taken down late on Wednesday.
 
"The item is no longer available for sale on the site," a spokeswoman for Amazon said in an email.
 
Amazon's portal in Canada sells doormats fashioned around other national flags, but under Indian law any desecration of its flag is punishable with fines and imprisonment.
 
Amazon's official support account on Twitter had earlier responded to angry user comments on Twitter by saying the mats were not being sold on their Indian portal and the concerns had been escalated.
 
Swaraj tweeted that she had asked the Indian High Commission in Canada to take up the issue with Amazon, after it was brought to her attention by a Twitter user from India's financial capital of Mumbai.
 
Swaraj is a prolific user of the social media website and often responds to tweets directed at her.
 
Amazon is making a huge bet on India and has vowed to invest more than $5 billion as it takes on home-grown Flipkart and Snapdeal for a bigger share of the world's fastest growing internet services market.
 
In an event attended by Indian premier Narendra Modi in Washington last year, Amazon Chief Executive Jeff Bezos said India was the company's fastest growing region.
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