1 VALE EVACUATES 200 PEOPLE FROM TOWN NEAR ITS MAR AZUL MINE WWW.MINING.COM PUBLISHED:2019/02/17      2 TOOTH PLAQUE SHOWS DRINKING MILK GOES BACK 3,000 YEARS IN MONGOLIA WWW.SCIENCENEWS.ORG  PUBLISHED:2019/02/17      3 INCREASING NUMBER OF CHINA-EUROPE FREIGHT TRAINS SUPPORTS MONGOLIA'S ECONOMY: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/17      4 TAX REVENUE INCREASES BY 33.7 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/02/17      5 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      6 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      7 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      8 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      9 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      10 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

64x64

Qatar increases UK investment despite Brexit www.rt.com

 
The Qatar government is to invest £5 billion ($6.3 billion) in the UK over the next five years, deepening trade ties with Britain as it prepares to leave the European Union.
 
“Qatar will invest £5 billion in the UK over the next three-five years,” Finance Minister Ali Sherif al-Emadi said during a visit to London for a Qatar-UK business forum on Monday.
 
The announcement comes two days before Prime Minister Theresa May plans to start the formal EU exit proceedings by invoking Article 50 of the Lisbon Treaty.
 
“Qatar has great confidence in the UK, and this confidence will be demonstrated in the additional investments we will make over the next decade,” said Qatari Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani, who heads the delegation of over 400 officials and business executives.
 
Earlier, the head of the country's sovereign wealth fund said he still saw opportunities to invest in Britain after it quits the bloc.
 
The emirate has a significant stake in keeping the British economy and asset prices strong during and after Brexit. Qatar accounts for 90 percent of Britain’s imports of liquefied natural gas.
 
Qatari investors put billions into Barclays bank during the 2008 financial crisis and have created a stock and property portfolio worth over $50.27 billion (40 billion pounds) over the last decade.
 
“Qatar doesn’t see Britain leaving the EU as impacting their relationship, and it may be an opportunity for it to be stronger,” said Rachel Pether, an adviser at the Sovereign Wealth Fund Institute.
 
Britain, in turn, plans to double the amount of export finance available to support trade with Qatar to £4.5 billion ($5,67 billion), according to UK Trade Minister Liam Fox.
 
“No trade between the UK and Qatar should fail for lack of finance and insurance, that is why the UK government can give buyers and sponsors in Qatar attractive long-term finance to make sourcing from the UK more competitive,” he told the Qatar-UK business forum.
...


64x64

Top Russian automaker considers delisting from Moscow Exchange - reports www.rt.com

 
Russia’s flagship car producer AvtoVAZ may delist from the Moscow Exchange after a secondary share offering later this year, sources told Reuters.
The move would allow the carmaker to stop disclosing financial results and reduce costs.
 
"This is not on the agenda. Our focus, for now, is the ongoing capital restructuring of AvtovVAZ," said an official from Renault which owns 25 percent of AvtoVAZ.
 
According to the unnamed sources, the purchase of a 24.1 percent stake in AvtoVAZ by Russian investment bank Renaissance Capital late last year was part of the delisting plan. The purchase was part of a larger recapitalization plan for the automaker, which posted a net loss of 44.8 billion rubles ($785.96 million) in 2016.
 
AvtoVAZ plans to offer investors 9.25 billion shares priced at 10.3 rubles each in a second issue later this year.
 
The largest car manufacturer in Russia and Eastern Europe, AvtoVAZ produces nearly one million vehicles a year. In 2012 it created an alliance with Renault-Nissan and started assembling the Renault Logan, Datsun and Nissan Almera models in Russia.
 
The automaker has a stable market share in CIS countries and also exports cars to Germany, Iran, Syria, Egypt, and Hungary. It intends expanding into new markets such as the Czech Republic, Mongolia, and South-East Asia. It also plans to restart sales of its automobiles in Syria and Lebanon.
 
Last month, AvtoVAZ announced exports to the biggest auto market in the world China. The company also started selling cars in the United Arab Emirates in a bid to have a share in the Middle East market.
...


64x64

World Bank project aims to help Mongolia diversify exports www.gogo.mn

ULAANBAATAR, March 24, 2017 – The Mongolia Ministry of Finance and the World Bank launched the Export Development Project aimed to help small- and medium-sized enterprises in non-minerals sectors strengthen their export capabilities and boost their access to export markets.
The project, to be implemented by the government of Mongolia in the next 4 1⁄2 years, will support Mongolia’s economic diversification by providing those firms with training, matching grants and access to export credit-insurance products.
“In an economy where exports are heavily dominated by mining commodities, export diversification will boost productivity, overall entrepreneurship, and employment,” said James Anderson, World Bank Country Manager for Mongolia, at the project’s launch event. “This project also complements other efforts by the World Bank to support inclusive economic growth and livelihoods in Mongolia.”

“Through the project, existing and future SME exporters in Mongolia’s non-minerals sector will have broader and easier access to export credit insurance, learn practical knowhow, and receive financial support to improve their export quality and competitiveness,” said Minister of Finance Choijilsuren Battogtokh. “The agricultural Reinsurance Joint Stock Company, private insurance companies and other financial institutions will learn to provide export-oriented financial products and services to the Mongolian SMEs.”
In 2015, 87 percent of Mongolia’s exports consisted of mining commodities, while making up only 4 percent of the nation’s jobs. By contrast, agriculture employs nearly 30 percent of the total workforce, with livestock providing subsistence, income, and wealth for nearly half of Mongolia’s population.
The project is funded with a $20 million credit from the International Development Association, the World Bank’s fund for the poorest.

...


64x64

Mongolia to lease two Boeing airliners in 2019 www.mongolia.gogo.mn

 
Mongolian Airlines (MIAT) has reached a lease agreement with the Boeing Company regarding 2 Boeing 737 MAX 8 airplanes starting from 2019 and for 12 years.
After signing an agreement to purchase 3 airliners from the Boeing Company, Mongolian Airlines received a Boeing 767-300ER aircraft in 2013. The remaining two air crafts were to be purchased in 2019, however, on account of the current economic difficulties, the Mongolian side has decided to lease the airplanes.
As such, the purchase order has been transferred to Avolon Aerospace Leasing Limited company based in Ireland, and a trilateral agreement has been signed.
The Boeing 737 MAX 8 airplanes are expected to arrive in Mongolia in the first and second seasons of 2019.
Mongolian Airlines conducts its flights with 5 Boeing airliners which were manufactured from 2000 to 2014.
...


64x64

Central bank official: Boost economy using fiscal policy www.chinadaily.com.cn

 
The cycle of global quantitative easing is coming to an end and policymakers should rely more on fiscal policy to stimulate growth, Zhou Xiaochuan, China's central bank governor, said on Sunday.
 
Zhou warned about the overreliance on monetary easing and said that policy is not "a panacea that can cure all kinds of illness".
 
"The direction is to see the limit (of monetary policy) and to consider very carefully how to get out of the period of monetary easing," Zhou said at a panel discussion at the Boao Forum for Asia.
 
In addition, governments should improve balance sheets and fiscal positions to create more room for fiscal policy, he said.
 
Quantitative easing is the practice of central banks pumping money into the economy through the purchase of assets, usually government bonds.
 
The central bank governor said China has the flexibility in fiscal policy, as the debt level of the central government is not very high, and added the country needs to streamline the relationship between the central and local governments to ensure fiscal policy fits the local conditions.
 
Zhou saw inflation and asset bubbles as the "unintended consequence" of the monetary easing.
 
At the forum, former prime minister of Pakistan Shaukat Aziz said emerging markets need to accelerate reforms.
 
Li Daokui, an economics professor at Tsinghua University in Beijing, also warned about high inflation in the long run after monetary easing globally. But he said the monetary policy should not be blamed for the rapid rise of housing prices in China.
 
"Don't rely on monetary policy to provide all the solutions and don't blame monetary policy for all the problems," Li said.
 
The central bank launched mortgage rules to cool the property market. Among them, raising the down payment requirement for buyers of a second home in Beijing to 60 percent of the price.
...


64x64

Parliament speaker to pay official visit to Japan www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Today, Parliamentary speaker M.Enkhbold left for Japan to pay an official visit. He will meet with Prime Minister of Japan Shinzo Abe, Speaker of House of Representatives of Japanese Parliament Tadamori Oshima, President of House of Councillors Date Chuichi. Japanese Foreign Affairs Minister Fumio Kishida, Minister of Health, Labor and Welfare Yasuhisa.Shiozaki, Deputy PM and Finance Minister Taro Aso will pay courtesy calls on the speaker.
 
During the visit, the Midterm program on Strategy partnership of Mongolia and Japan will be signed.
 
Speaker M.Enkhbold will also attend the 136th Inter-Parliamentary Union Assembly to be held on April 1-5 in Dhaka, the capital of People's Republic of Bangladesh. He will chair a meeting of Asia and the Pacific group and make speech at the plenary session of the Assembly on Eliminating inequality: securing humankind a dignity and wellbeing”. The speaker also intends to hold bilateral meetings with parliamentary speakers of several countries.
...


64x64

European Union works with Mongolia on strengthening political and economic links www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ From 27 to 31 March, European Union high-level officials will visit Mongolia to support its political and economic reform path. The meetings will take stock and develop further relations, as Mongolia is a valued partner for the EU. The visit is part of regular, long-established political dialogue/cooperation.
 
The 17th EU-Mongolia Joint Committee will meet on 31 March. It will be chaired by Foreign Minister of Mongolia Mr Tsend Munkh-Orgil and EU Managing Director for Asia-Pacific Mr Gunnar Wiegand. They will examine recent developments in EU-Mongolia relations, cooperation related to regional and global issues, the evolution of trade flows as well as the implementation of development assistance. The meeting will also consider measures that may contribute to the development and diversification of trade and economic cooperation.
 
The Joint Committee will be preceded by three different meetings on 30 March:
 
1. The first ever Human Rights Dialogue, part of the EU strategy to promote respect for human rights and fundamental freedoms. The main purpose of the dialogue is to support Mongolia's adherence to its bilateral and international obligations in relation to human rights, rule of law and democratic principles. The Dialogue will help identify potential cooperation areas in the human rights field.
 
2. The Sub-committee on Trade and Investment, which discusses the diversification of Mongolian economy and the attraction of foreign investment among other issues.
 
3. The Working Group on Development Cooperation will review and discuss priorities and their implementation in the medium term.
 
From 27 to 29 March meetings take place to support implementation of the Generalised Scheme of Preferences (GSP+) under which Mongolian goods enter the EU market duty-free. In 2015, 20% of Mongolian goods exports, worth 16 million euro, entered the EU market duty-free under GSP+.
Mongolia joined the GSP+ scheme in 2014. This scheme aims to help Mongolia implement human and labour rights, environmental protection and good governance conventions and in return grants full removal of tariffs on over 66% of tariff lines.
 
The EU will engage with stakeholders, authorities, business, civil society, and international organisations, to assess developments in implementing the conventions. The EU will also inform stakeholders of the functioning and benefits of the GSP+ scheme and listen to any concerns or difficulties in its practical implementation.
...


64x64

BT fined record £42m for late installations www.bbc.com

 
BT has been hit with a record fine from telecoms regulator Ofcom and has set aside £300m to repay providers for delays in installing high-speed lines.
Ofcom has issued the firm with a £42m fine, which it said was the largest it has ever handed down.
It found BT's Openreach division had cut compensation payments to telecoms providers for delays in installing the lines between early 2013 and late 2014.
Openreach said it "apologised wholeheartedly" for the mistakes.
The investigation found BT had broken rules about its "significant market power" by cutting the payments.
Gaucho Rasmussen, Ofcom's investigations director, said: "These high-speed lines are a vital part of this country's digital backbone.
"We found BT broke our rules by failing to pay other telecoms companies proper compensation when these services were not provided on time.
"The size of our fine reflects how important these rules are to protect competition and, ultimately, consumers and businesses."
'Fall short'
Openreach provides the wires and cables that powers the UK's broadband and landline phone network.
In this case, it failed to pay full compensation to providers when it was late installing ethernet lines - high-speed cables used by large businesses, and mobile and broadband providers, to transmit data.
Earlier this month, BT agreed to Ofcom's demands for it to legally separate Openreach from its main business.
Under the changes, Openreach will become a distinct company with its own staff, management and strategy "to serve all of its customers equally".
BT chief executive Gavin Patterson said the investigation "revealed we fell short of the high standards" for serving telecoms providers.
"We take this issue very seriously and we have put in place measures, controls and people to prevent it happening again," he said.
...


64x64

Nuclear arms abolition negotiations begin www3.nhk.or.jp

 
The conference to negotiate a legally binding treaty to ban nuclear weapons begins at the United Nations headquarters in New York on Monday. But all the nuclear states will not participate.
 
The UN General Assembly voted to start negotiations last December. More than 50 non-nuclear countries submitted the proposal and 113 states supported the resolution.
 
The treaty is to ban nuclear weapons based on the interpretation they are in breach of international laws.
 
More than 100 countries are expected to take part in the negotiations. They will likely focus on how to substantiate the illegality of nuclear weapons.
 
The United States and Russia say the negotiations lack the realistic perspective of international security.
 
Japan is the only country to have experienced atomic bombings, but has also been against the treaty. The government's position is that disarmament should occur in stages with cooperation of both nuclear and non-nuclear states.
 
Japan is arranging to send an envoy to speak at the conference, but is unlikely to take part in the negotiations.
 
Swedish Foreign Minister Margot Wallstrom told NHK at the UN on Thursday that the negotiations are timely. She said there have recently been comments flaunting nuclear arms. She added that many countries are frustrated with the stalemate in nuclear arms reduction.
 
Former US President Barack Obama called for "a world without nuclear weapons." His successor Donald Trump has indicated he wants to strengthen US nuclear power.
...


64x64

Snapchat 'will be bigger than Twitter, Yahoo and AOL with advertisers' www.theguardian.com

 
Snapchat could become more popular with advertisers than Twitter, Yahoo and AOL within three years, with the messaging app company forecast to bring in revenues of more than $3bn (£2.4bn) a year before the end of 2019.
 
That bullish forecast is based on advertisers targeting the youth audience that the disappearing photo app has seemingly cornered. More than half (51%) of video users on Snapchat are under 24, compared with 23% for Facebook and 17% for Google’s YouTube, according to Ampere Analysis.
 
Brands are also keen to see a true rival emerge to challenge Facebook and Google, which have recently come in for heavy criticism for their advertising practices. The two web giants currently account for 58% of the $141bn global mobile ad market.
 
“You often hear advertisers saying they are getting uncomfortable with such a large portion of ad spend going to just two players,” said Cathy Boyle, principal analyst at eMarketer, which produced the global mobile ad forecast. “If there can be a third or fourth player they are interested in spreading the wealth beyond the duopoly.”
 
WPP chief executive Sir Martin Sorrell recently referred to Snapchat’s potential to become a “third force” alternative but many investors and analysts remain wary of Snapchat’s future.
 
After a much-hyped stock market flotation earlier this month that valued Snap, the company behind Snapchat, at $29bn the company’s share price has steadily sunk. The shares soared from their $17 IPO price to $26 in two days, but are now back at just over $19.
 
“Snap is a promising early-stage company with significant opportunity,” said Brian Wieser, senior analyst at Pivotal Research in a note to investors. “Unfortunately, it is significantly overvalued given the likely scale of its long-term opportunity and the risks associated with executing against that opportunity.”
 
Wieser, who says Pivotal is a “cautious optimist” on Snapchat, said that its model for the business is “potentially stretched” at even a bearish target price of just $10 a share.
 
The list of issues and potential threats is extensive. Omnipresent is Mark Zuckerberg’s Facebook, which dominates social media with 1.2 billion daily users and owns Snapchat’s most direct competitor, Instagram.
 
Last summer, Instagram – which has 600 million users to Snapchat’s 158 million – launched a function called Stories, which is similar to Snapchat’s own story feature. Instagram Stories has already achieved 150 million daily active users. Instagram Stories’ launch intensified another concern: Snapchat’s slowing growth.
 
The number of Snapchat users grew by 14% and 17% in the first two quarters of last year. Following the launch of Instagram Stories, Snapchat’s growth slumped to 7% and just 3.2% in the final two quarters of 2016. Snap has blamed “technical issues” in the rollout of new products, but admitted in its IPO document that Facebook/Instagram would be a huge threat.
 
“Our competition may mimic our products and therefore harm our user engagement and growth,” Snap acknowledged.
 
While Snap’s IPO has made 26-year-old co-founder Evan Spiegel the world’s youngest billionaire with a $5.5bn fortune, his business remains heavily loss-making.
 
Snap raised $3.4bn at its flotation, giving it plenty of cash to continue to build on innovations such as its launch of video-capturing spectacles. But it lost $373m on its day-to-day business in 2015, and that figure spiralled to $515m last year.
 
One of the most highly publicised issues has been Snap’s decision to keep total control of the company’s voting rights with its founders and early investors. In its IPO filing the company said it believed it was the first US business to go public with shares that do not grant any voting rights to stock market investors.
 
“We … cannot predict the impact … the concentrated control by our founders may have on our stock price or our business,” the company said.
 
Corporate governance experts have advised potential investors to avoid Snap because of the voting rights issue. “It’s about accountability. If you give your money to someone you want to make sure they’re using it properly and can justify their actions back to you,” said Sarah Wilson, chief executive of investor advisory firm Manifest. “Power is handed over to a select few with the shareholders bearing considerable financial risk – remember those founders will be getting gold-plated pay schemes as well as their stock ownership.”
 
However, WPP’s Sorrell recently countered this view, arguing companies with dominant shareholders or owners – such as Snap, Facebook and Rupert Murdoch’s News Corp and Fox – that “offend” good corporate governance practices can take more risks and tend to perform better financially.
 
Snapchat’s $22bn market capitalisation is already double that of Twitter ($11bn), but it remains a minnow compared with Facebook ($393bn) and Google ($596bn).
 
It is undeniable that the digital darling is on to something – its users love it. Two-thirds of them check the app every day – and the average daily user visits the app 18 times a day, spending an average of 25 to 30 minutes a day sending snaps and watching messages from their friends, celebrities and advertising brands.
 
This level of engagement from a youth audience notorious for fickle attention has helped fuel a surge in revenues from $58.7m in 2015 to $404m last year and an expected $1bn this year.
 
Nick Baughan, chief executive of media agency Maxus UK, said the Snapchat opportunity is real but that advertisers also remain cautious. “It isn’t a case of the emperor’s new clothes, it is an exciting opportunity,” he said. “But the IPO came quite early, before advertising products have grown to full maturity.
 
“At the moment Snapchat sits firmly in most agencies and advertisers’ innovation [budget] pot. As responsible advertisers and agencies we need to make sure we are where audiences are. But there is no point in being innovative unless Snapchat can back it up with evidence-based innovation.”
...