1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20    

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

64x64

Samsung Elec may build US plant for home appliances -source www.asia.nikkei.com

SEOUL (Reuters) -- Samsung Electronics Co Ltd may build a U.S. plant for its home appliances business, a person familiar with the matter said, the latest global firm to consider a response to criticism about imports from new U.S. President Donald Trump.

Specifics such as the amount the electronics giant might invest and where the new base could be located have yet to be decided, said the person, declining to be identified due to lack of authorisation to speak publicly on the matter.

The new U.S. administration has threatened an import tax while Trump has attacked some of the world's biggest companies for manufacturing abroad for U.S. consumers, stoking much alarm and triggering a rash of promises to invest more in the United States.

"Thank you, @samsung! We would love to have you!," Trump said on Twitter.

Samsung declined to comment on whether it has any specific plans to add production facilities in the U.S. but said it has already made significant investments in the country, including the $17 billion the firm has spent to date for its Austin, Texas, chip plant.

"We continue to evaluate new investment needs in the U.S. that can help us best serve our customers," it said in an email.

South Korean firms have not been singled out so far, but some have embarked on preemptive moves to ward off criticism. The Hyundai Motor Group said last month it plans to lift U.S. investment by 50 percent to $3.1 billion over five years.

LG Electronics Inc also announced in January that it will decide on whether to build a manufacturing base in the United States within the first half of the year and warned of risks from the Trump administration's trade policies.

Plants for assembling appliances would not pose a financial burden for the likes of Samsung or LG, said Jay Yoo, an analyst at Korea Investment.

If a border tax was imposed, investing in plants would be essential if they wanted to remain competitive with rivals such as Whirlpool Corp that make appliances in the country.

...


64x64

Snapchat files for $3 billion IPO www.cnn.com

The biggest social media IPO since Twitter is here.
Snap Inc., the parent company of Snapchat, filed paperwork on Thursday to raise $3 billion in its long-awaited initial public offering.
The tech company will only sell non-voting shares when it goes public. It will list on the New York Stock Exchange under the ticker symbol "SNAP."
The documents offer the clearest glimpse yet behind the curtain of one of tech's most secretive startups.
Snap claims 158 million daily users and said over 2.5 billion Snaps are created every day.
However, the young company warned that its popularity could plateau, hurting its business. It noted that user growth was "relatively flat" in the end of the third quarter. Snap blamed the decline in user growth on performance issues linked to new products and updates.
Snap also continues to struggle to make money -- and it signaled a profit may not be coming soon. The company suffered losses of $515 million in 2016, up from a loss of $373 million the year before.
"We have incurred operating losses in the past, expect to incur operating losses in the future, and may never achieve or maintain profitability," Snap said in the filing.
Not just that, but Snap acknowledged that "for all of our history, we have experienced net losses and negative cash flows."
Snap also warned about the impact of higher expenses, especially legal and accounting costs that public companies deal with.
Snap's financial track record is already bringing unwanted comparisons to Twitter (TWTR, Tech30), which has failed to turn its strong brand recognition into reliable profits.
"To me, Snap is Twitter 2.0 -- a company with a good growth rate that is losing a ton of cash, coupled with a massive valuation," said Brian Hamilton, cofounder of private company analysis firm Sageworks.
Snap's corporate structure will allow its founders to exert enormous control over the company. The Class A shares being offered in the IPO have no voting rights, meaning they can't weigh in on key matters like who sits on the board, how much executives are paid and on potential mergers.
Founders Evan Spiegel and Robert Murphy will control much of Snap's Class C shares, which are granted 10 votes apiece. Class B shares will have one vote apiece, but it's not clear who holds those and they're not being offered in the IPO.
Wall Street competes intensely to get a piece of marquee IPOs like Snap's. That's why Snap's decision to list on the New York Stock Exchange is a big win for that iconic venue.
Morgan Stanley (MS), Goldman Sachs (GS) and JPMorgan Chase (JPM) also won bragging rights as the banks that are taking Snap public.
As is common, Snap listed a number of risk factors that could hurt the company's growth. One interesting risk: Snap warned that its lack of a designated headquarters may "negatively affect employee morale." Snap is based in Venice, California, but its offices are spread throughout the city, a setup the company said may limit social interaction and oversight of employees.
The company confidentially filed paperwork for an IPO before the presidential election. It took advantage of the Jumpstart Our Business Startups, or JOBS Act, which allows companies with less than $1 billion of annual revenue to file for IPOs in secret.
Snap makes money from an eclectic mix of sources, ranging from traditional video ads and sponsored location-based filters to physical products like smart sunglasses sold out of smiling vending machines and ice trays sold on Amazon (AMZN, Tech30).
The Snapchat app launched in 2011 and set itself apart from other messaging services with a focus on disappearing messages. It initially developed a reputation as a service for sending salacious pictures, but has since moved far beyond that.
Today, Snap defines itself as a "camera company." It sells Spectacles for recording videos and has built up its flagship app with augmented reality lenses that make sharing posts with friends more playful and engaging.
On any given day, you can flip through collections of posts from users attending the same event or find big name publishers like Vogue, National Geographic and CNN curating content specifically for Snapchat.

...


64x64

Small and medium scale companies’ income tax lowered www.montsame.mn

Ulaanbaatar /MONTSAME/ President Tsakhiagiin Elbegdorj made a statement on national security issue at the plenary meeting of the State Great Khural held on February 2. The statement was heard behind closed doors. The Parliament discussed the bill on revenue and expenditure of the National Treasury Fund under closed regime.

After the session transferred into an open regime, the parliament passed seven legal documents on final readings.

One of the bills passed were the amendments to the Entities’ Income Tax Law. The amendments suggested changes in favor of the companies, which are engaged in productions of food, clothing, construction materials and agricultural products and has annual sales income of less than MNT 1.5 billion. The entities that fall under the category will enjoy only 1 percent income tax between January 1 of 2017 and January 1 of 2021. In this way, the income tax rate is being cut by 90 percent.

The country’s economic growth has been slowing down and the unemployment rate has been increasing in the recent years. The majority of registered companies in Mongolia are running small and medium scale businesses.

The revised bill is expected to alleviate their tax burden and enable them to increase their investment, in order to accelerate the economic growth and reduce unemployment.

...


64x64

Russia to deliver 10 Su-35 fighter jets to China in 2017 www.rt.com

 
The second batch of 10 Russian Sukhoi Su-35 multipurpose fighter jets will be delivered to China this year with a further 10 aircraft in 2018, TASS reported on Thursday, citing its sources.
 
"The first four planes were supplied late last year and the second batch of 10 jets will be delivered to the customer this year," said an unnamed source familiar with the matter.
 
In November, Deputy Director of the Federal Service for Military and Technical Cooperation Vladimir Drozhzhov told TASS that Moscow had started deliveries of the fighter jets to China.
 
 
The contract for 24 Su-35s was inked in November 2015, making China the first international buyer of the advanced Russian warplane. The three-year deal for the aircraft, ground equipment, and spare engines is valued at $2 billion.
 
The Su-35 is a long-range '4++ generation' super-maneuverable fighter jet. It is armed with an internal 30mm cannon and has 12 hardpoints with a combined capacity of 8,000 kg, compatible with a wide range of unguided and guided missiles and bombs. Its maximum speed is 2,500 km/h, with a range of 3,400 km, and a combat radius of around 1,600 km.
 
Beijing first showed an interest in buying Su-35s in 2008 during the Airshow China international expo. Formal negotiations started in 2011.
 
China is currently among the world’s top five buyers of Russian arms, restoring its position after a slowdown in the late 2000s.
 
The country buys advanced Russian jet engines, submarines, and surface-to-air missiles, among other high-tech military items.
 
According to the Russian Defense Minister Sergey Shoigu, cooperation between the two countries “is at an all-time high” and “continues to steadily expand each year,” particularly in the economic sphere.
 
Trade between China and Russia was about $68 billion in 2015. Projects for the next three years are estimated at $200 billion.
 
In November, Russia announced the delivery of the S-400 missile systems to China by 2020, making it the first country authorized to buy the advanced air defense weapon. The deal is reportedly worth $3 billion.
...


64x64

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.
...


64x64

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.

...


64x64

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.
...


64x64

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.
 
 
...


64x64

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."
...


64x64

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.
...