1 US-MONGOLIA 'THIRD NEIGHBOR TRADE ACT' ON THE WAY WWW.THEDIPLOMAT.COM PUBLISHED:2018/11/17      2 CHINA'S FIGHT AGAINST SMOG MAKES PALLADIUM 2018'S BEST METAL WWW.MINING.COM PUBLISHED:2018/11/17      3 MILLENNIUM CHALLENGE CORPORATION PRESENTS GMS LICENSES WWW.MONTSAME.MN PUBLISHED:2018/11/17      4 MONGOLIA CALLS FOR GLOBAL ATTENTION ON CLIMATE CHANGE WWW.NEWS.MN PUBLISHED:2018/11/17      5 ADB OPENS A NEW WASTEWATER TREATMENT PLANT IN ARVAIKHEER, MONGOLIA WWW.AGENPARL.EU PUBLISHED:2018/11/17      6 CHINA TO BOOST COOPERATION WITH INDIA, MONGOLIA: DEFENSE MINISTER WWW.GLOBALTIMES.CN PUBLISHED:2018/11/17      7 DEATH ON MONGOLIA’S ‘COAL ROAD’ WWW.NEWS.MN PUBLISHED:2018/11/17      8 MONGOLIA SHAKEN BY WIDENING LOAN SCANDAL WWW.ASIA.NIKKEI.COM PUBLISHED:2018/11/17      9 MONGOLIA’S UNEMPLOYMENT FALLS BY 2.2 PERCENT WWW.NEWS.MN PUBLISHED:2018/11/16      10 MEETING MEAT DEMAND: MONGOLIA TO TRADE 17.9 PERCENT OF LIVESTOCK WWW.NEWS.MN PUBLISHED:2018/11/16      БНСУ-ЫН АЖ АХУЙН НЭГЖҮҮДИЙН АУТСОРСИНГ ЗАХИАЛГЫГ ГҮЙЦЭТГЭХ ЗАЛУУЧУУДЫГ СОНГОН, ШАЛГАРУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/17     НҮҮРСНИЙ ЭКСПОРТ 10 ХУВИАР ӨСӨЖ, 31.3 САЯ ТОНН БОЛОВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/17     СУДАЛГААГААР ЖДҮ ЭРХЛЭГЧИД ЗЭЭЛИЙН ХҮҮНИЙ ЗАРДАЛ ХАМГИЙН ИХ ХҮНДРЭЛ УЧРУУЛДАГ ГЭЖ ХАРИУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ERDENE RESOURCE DEVELOPMENT: ХАЙГУУЛЫН ЗАРДАЛ III УЛИРАЛД 42 ХУВИАР БУУРСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ГОРХИ, ТЭРЭЛЖИЙН БАЙГАЛИЙН БОХИРДОЛД АНХААРАЛ ХАНДУУЛЖ ЭХЛЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     ИРЭХ БААСАН ГАРАГТ ХОТЫН ДАРГЫГ ОГЦРУУЛАХ ЭСЭХИЙГ ХЭЛЭЛЦЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     “АМГАЛАН” ХОТХОНД БАЙРЛАХ ГЭРТЭЭ КАННАБИС ТАРЬЖ, УРГУУЛЖ БАЙСАН ТУРК ИРГЭНИЙГ БАРИВЧИЛЖЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/17     ӨНӨӨДӨР АВТОМАШИНЫ ДУГААРЫН ХЯЗГААРЛАЛТ ҮЙЛЧЛЭХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/17     ГАШУУНСУХАЙТЫН НҮҮРСТЭЙ МАШИНЫ ЦУВАА 120 КМ БОЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/16     ТАТВАРЫН ОРЛОГО 32.2 ХУВИАР ӨСӨЖ, ТӨСВИЙН ТЭНЦЭЛ 341.9 ТЭРБУМ ТӨГРӨГИЙН АШИГТАЙ ГАРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/16    

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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US oil exports set to hit all-time high under Trump www.rt.com

 
American crude oil exports are poised to exceed four members of the Organization of Petroleum Exporting Countries (OPEC) this year, according to analysts polled by Bloomberg.
 
The United States, the world’s biggest oil consumer, could export at least 800,000 barrels per day (bpd), the analysts said. This exceeds oil exports of OPEC members Libya, Qatar, Ecuador, and Gabon. In 11 months of 2016, the US exported 527,000 bpd, according to the Energy Information Administration data.
 
Asset management firm Macquarie told Bloomberg US oil production would reach 9.37 million bpd after the 5.6 percent slump to 8.87 million in 2016. Turner, Mason & Co. and Lipow Oil Associates forecast American oil output will exceed nine million bpd, while Wood Mackenzie predicted a more conservative 8.75 million.
 
“Godzilla is even taller in person… US production will be bigger than most people are expecting,” Vikas Dwivedi, senior analyst at Macquarie told the media.
 
The US is neck-and-neck with China as the world's largest crude importer, buying 7.88 million bpd of crude last year. However, there is an explanation, why America is boosting exports, analysts said.
 
American refineries were designed to process dense and high-sulfur oil from Canada and parts of the Middle East and Latin America. The growth in US production mostly came from the Texas’ Permian Basin and Eagle Ford regions, which have oil of better quality, and local refiners can’t process it.
 
“If the US system can’t take the crude it produces, it will have to export it,” Macquarie’s Dwivedi told Bloomberg.
 
If OPEC continues to comply with the self-imposed cuts of 1.2 million bpd, the market may see even a larger amount of American oil, as Europe, Asia, and Latin America will seek new suppliers, said Andy Lipow, head of a Houston-based consulting company Lipow Oil Associates.
 
The 40-year-old ban on exports of American crude oil was lifted in late 2015.
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MBD Business mission to Sydney, Australia. March 19-26, 2017 "Accounting best practices"

Mongolian Business Database (MBD) is starting to register the Mongolian business delegates to "Accounting best practices" theme targeted business program jointly with Saki partners Australia www.sakipartners.com.au and Dr.Nigel Finch, Honorary Consul-General of Mongolia in Sydney.

The business program includes a half day special training seminar and Australian accounting and financial company visits.

The Australian Partner Dr. Finch is a Managing Director of Saki Partners, Chartered Accountant, a Chartered Tax Adviser and a Fellow of CPA. He is a member of the Representative Council of CPA Australia, a director of the Australia Mongolia Business Council and a director of several companies listed on the Australian Securities Exchange. He recently served as a Dean of Accounting Department of Sydney University.

For more information please visit the following link http://www.mongolianbusinessdatabase.com/base/eventsdetails… and register at contact@mongolianbusinessdatabase.com or by tel: 77109911 and 98994787.

The registration will be closed by February 22, 2017.

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Mongolian share in IBRD capital stock to be raised www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ In yesterday’s cabinet meeting, the Government decided to increase Mongolian share in capital stock of International Bank for Reconstruction and Development of the World Bank group by 143 shares par value of USD120.635 and to grow up its special shares by 71.
 
The increased shares are believed to allow Mongolia to hold active foreign policy, to realize long-term goal to strengthen its position in the world economy through international financial institutions and utilize concessional financial sources from international banks and financial institutions.
 
Share in the bank’s capital stock accounts for voting power and ceiling for the bank’s financing and Mongolia has 0.06 per cent vote.
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Southeast Asian ride-hailing firm Grab to invest $700 million in Indonesia www.reuters.com

 
Southeast Asian ride-hailing firm Grab on Thursday said it will invest $700 million to expand in Indonesia over the next four years, marking its biggest-ever investment in any country.
 
Grab's push in what has become its largest market is set to intensify the competition among ride-hailing firms in Indonesia. Grab's rivals in the country include U.S. firm Uber Technologies Inc [UBER.UL] and home-grown app Go-Jek.
 
Grab will open a research and development (R&D) center, start a new investment fund and develop its payment platform in Indonesia. It had also hired Indonesia's former national police chief to oversee corporate governance.
 
Grab said its R&D center in Jakarta will develop localized solutions such as algorithms to address the road regulations in the Indonesian capital. It will also invest up to $100 million in early-stage start-ups or aspiring "technopreneurs".
 
Grab, which was co-founded by Harvard Business School graduate Anthony Tan, raised $750 million in a funding round last September, more than a month after its Indonesian rival, Go-Jek, received $550 million from investors including KKR and Warburg Pincus.
 
 
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U.S. jury issues $500 million verdict in Facebook virtual reality lawsuit www.reuters.com

 
A U.S. jury in Texas on Wednesday ordered Facebook Inc, its virtual reality unit Oculus, and other defendants to pay a combined $500 million to ZeniMax Media Inc, a video game publisher that says Oculus stole its technology
The jury in federal court in Dallas found Oculus, which Facebook acquired for about $2 billion in 2014, used ZeniMax’s computer code to launch the Rift virtual-reality headset.
ZeniMax alleges that video game designer John Carmack developed core parts of the Rift’s technology while working at a ZeniMax subsidiary. Oculus hired Carmack in 2013.
Facebook's stock was not impacted by the verdict. The company's shares were up 3 percent in after-hours trading following the release of a fourth-quarter earnings report that beat expectations.
ZeniMax Chief Executive Robert Altman hailed the verdict and said in a statement the company was considering seeking an order blocking Oculus and Facebook from using its code. It is unclear what impact that would have on the Rift's market availability.
Though the jury ruled that none of the defendants misappropriated ZeniMax's trade secrets, it found Oculus' use of computer code directly infringed on ZeniMax's copyright. The jurors held Carmack and different Oculus co-founders Palmer Luckey and Brendan Iribe liable for forms of infringement.
The jury also found Oculus liable for breaching a non-disclosure agreement Luckey signed with ZeniMax in 2012, when he began corresponding about virtual reality with Carmack. The two met on an online forum.
Well-known for helping to conceive games such as "Quake" and "Doom," Carmack worked for id Software LLC before that company was acquired by ZeniMax. He is now the chief technology officer at Oculus.
Facebook Chief Executive Mark Zuckerberg testified last month during the three-week trial that none of ZeniMax’s proprietary code was incorporated into the Rift.
Though the jury did not find Facebook directly liable, it would likely be on the hook for damages owed by its subsidiary, absent an agreement stating otherwise.
In a statement, Oculus spokeswoman Emily Bauer noted the jury's finding on trade secrets theft and said the company would appeal. "We're obviously disappointed by a few other aspects of today's verdict, but we are undeterred," she said. "Oculus products are built with Oculus technology."
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Suzuki unveils models with enhanced safety systems www3.nhk.or.jp

 
Japan's Suzuki Motor has launched new mini vehicle models featuring enhanced safety systems.
Suzuki officials rolled out the new models in Tokyo on Wednesday.
The vehicles have an improved automatic braking system that uses a camera and laser sensor. These enable the system to detect pedestrians.
The cars also have a mechanism to prevent drivers from stepping on the gas pedal instead of the brake.
Suzuki officials say the latest hybrid power system improves mileage.
Company president Toshihiro Suzuki says demand is growing for mini vehicles with safety features, as many of their drivers are elderly.
Sales of mini vehicles have declined for 23 consecutive months, year on year, following a tax raise on mini vehicles in April, 2015.
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Plant fire costs Nippon Steel up to $350m www.asia.nikkei.com

 
TOKYO -- Nippon Steel & Sumitomo Metal's profits will likely be cut by some 30 billion yen to 40 billion yen ($265 million to $353 million) due to a fire at its plate mill in early January, The Nikkei learned Thursday.
The mill, in Oita Prefecture, southwestern Japan, is a key production site of the Japanese steelmaker. The damage is expected to affect the company's earnings for the two fiscal years through March 2018.
In addition to the costs to restore the damaged mill, the maker will face lower sales of steel plate. Compared to the manufacturer's other factory locations, the Oita plant has a larger capacity and better facilities for steel-plate making. Shifting production to other locations will raise production costs.
The fire began in the early morning on Jan. 5 and lasted 36 hours before being extinguished. Nippon Steel expects to resume operations of the plate mill sometime around September.
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Cameco to lose $1.3bn as Japan’s TEPCO cancels uranium contract www.mining.com

 
Uranium miner Cameco (TSX:CCO; NYSE:CCJ) is weighing its options after a key Japanese customer attempted to cancel its contract, which would mean $1.3 billion in lost revenue for the Canadian company.
Tokyo Electric Power Company Holdings (TEPCO), the operator of Japan’s wrecked Fukushima nuclear plant, issued a termination notice for a uranium supply contract on Jan. 24 and, earlier this week, it said it would not accept a delivery that was scheduled for Feb.1.
Such contract cancellation would affect about 9.3 million pounds of uranium deliveries through 2028, including about 855,000 pounds annually in 2017, 2018 and 2019, Cameco said.
Shares collapsed on the news. They were trading down 12.5% to Cdn$14.50 in Toronto at 1:00 pm, and 13.3% down in New York to $11.06 at 1:26 pm ET.
Cameco said the Japanese power company has cited forces beyond its control — specifically government regulations arising from the 2011 Fukushima nuclear accident — that have prevented the operation of its nuclear plants.
The Canadian firm insisted that there's no basis for terminating the contract and considers TEPCO to be in default. It said it will pursue its rights — including binding arbitration.
“We are surprised and disappointed that TEPCO is seeking to terminate its contract given all the past productive discussions we have had to date,” Cameco’s president and CEO Tim Gitzel said in the statement.
The company noted it has sufficient financial capacity to manage any loss of revenue in 2017 as a result of the dispute.
Including income coming from TEPCO, Cameco expects 2017 earnings will range between $2.1 billion to $2.2 billion. More information on the uranium miner’s financial position will be released next week.
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Federal Reserve upbeat on US economy as it holds rates www.bbc.com

 
The US central bank remained positive on the economy, as it kept interest rates on hold in its first meeting since President Donald Trump took office.
The Federal Reserve ruled unanimously to keep its benchmark interest rate in a range of 0.5% to 0.75%.
The jobs market and economic activity had continued to strengthen, it said.
"Measures of consumer and business sentiment have improved of late," the central bank also said in a statement.
The Fed had raised its benchmark interest rate by 0.25% in December, only the second increase in a decade.
Trump effect
President Trump has promised to boost growth through tax cuts, spending and deregulation, raising the prospect of higher inflation.
Fed chairwoman Janet Yellen warned last month that, with the economy near full employment, the central bank risked a "nasty surprise" on inflation if it was too slow with rate hikes.
On Wednesday, the Fed said inflation "will rise to 2% over the medium term", but did not comment on the effect of the Trump administration's plans.
Despite being upbeat, the central bank also signalled the Federal Open Markets Committee (FOMC), the body which sets rates, would still only make "gradual increases".
"This is only the first FOMC meeting of eight in 2017 so there are still plenty of opportunities for the Fed to raise interest rates throughout the year and it is likely that we will see a rate rise in March or June," said Kully Samra, UK managing director of wealth management firm Charles Schwab.
"In our view, two rate hikes this year would be sufficient to stave off inflation concerns and would not negatively impact economic growth."
'Chug along'
Dennis de Jong, managing director at UFX.com, said that uncertainty about Mr Trump's economic policies could further delay the next rate rise.
"With Trump still light on any concrete plans or time lines, [chairwoman Janet] Yellen may be forced to wait even longer before pulling the trigger," he said.
Official figures last week indicated the US economy grew at an annual pace of 1.9% in the fourth quarter of last year, a slowdown from growth in the previous quarter of 3.5%.
However, the central bank's outlook suggested "the economy continues to chug along and sentiment has improved", said Brian Jacobson, chief portfolio strategist at Wells Fargo.
The dollar and US stock markets were little changed on the Fed's announcement, as investors had widely expected rates to be left untouched.
The Dow Jones index rose 0.1% at 19,891 points. The S&P 500 index moved less than 1 point to 2,279 and the Nasdaq edged up 0.5% at 5,643.
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Waterstones makes first year of profit since 2008 financial crash www.theguardian.com

 
Strong sales of children’s books, teenage literature, and fiction have helped Waterstones to its first annual profit since the 2008 financial crisis, raising the potential of a stock market listing.
The bookseller made a £9.8m pretax profit in the year to 30 April 2016. The previous year is made a £4.5m loss.
Bought from HMV by the Russian billionaire Alexander Mamut in 2011 for £53m, Waterstones has shrugged off the rise of ebooks and Amazon to record a 4.3% increase in sales to £409m. Sales growth has continued in the past year, with a 4.7% rise over Christmas.
Mamut has spent about £100m on transforming Waterstones into a more efficient and modern retailer and, with sales growth and profits now on the rise, he is expected to cash out within the next few years.
James Daunt, the bookselling entrepreneur who was parachuted in almost six years ago to rescue Waterstones, said sales at established stores had grown at an even faster pace.
Children’s books such as the David Walliams titles and Jeff Kinney’s Wimpy Kid series, as well as teen fiction by the likes of Patrick Ness and Katherine Rundell have performed well. Daunt said young people were sharing news about what to read on social media.
“The growth of children’s books is an ongoing trend and an optimistic one for the future. People continue to read and teenagers continue to read and read more,” Daunt said. “Maybe the entertainment of a book becomes more obvious in a world of so much transitory social media.”
He added that sales of novels, which had been particularly affected by the rise of ebooks as fans of genre fiction such as crime novels fed their habit digitally, were also on the rise again.
“It’s not just the UK, almost all markets have seen similar growth,” Daunt said. “I don’t think readers are going off digital reading. It’s being used in a more indulgent way – when travelling – or if you are old and need a big font. But there are lots of studies which have found that reading a physical book is a very different experience. You remember it much more. It resides with you more than an ebook.”
Demand for Amazon’s Kindle e-reader has fallen so much that Daunt has removed them from most of Waterstones’ 280 stores.
While the rise of book sales and decline of ebooks has been important to Waterstones’ turnaround, Daunt said the business had also worked hard to differentiate itself from rivals such as Amazon and WHSmith.
He said book sales were partly being driven by Waterstones’ tactic of allowing staff to stock and push titles they believe would work in their store as well as helping readers discover new or less promoted authors.
Daunt added: “Book sales are back in growth again but we are also growing non-book sales, developing a cafe business and so the mix of what we sell is developing.” About 50 of the chain’s stores now have a Cafe W.
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