1 VOLKSWAGEN TO SPEND $50 BILLION ON ELECTRIC CAR 'OFFENSIVE' WWW.CNN.COM PUBLISHED:2018/11/19      2 HABITABILITY OF MONGOLIA UNDER THREAT FROM CLIMATE CHANGE WWW.ADELAIDENOW.COM.AU PUBLISHED:2018/11/19      3 THE SURPRISE FUEL FLOWS SPARKED BY A RAGING U.S.-CHINA TRADE WAR WWW.BLOOMBERG.COM PUBLISHED:2018/11/19      4 MONGOLIA’S COAL EXPORTS IN FIRST 10 MONTHS UP 10PC WWW.XINHUANET.COM PUBLISHED:2018/11/19      5 ABOUT 100 THOUSAND PASSENGERS PASSED THROUGH MONGOLIA-XINJIANG BORDER WWW.MONTSAME.MN PUBLISHED:2018/11/19      6 CHINA'S ‘ONE BELT, ONE ROAD’ GLOBAL INVESTMENT PLAN MAPPED OUT WWW.RT.COM PUBLISHED:2018/11/19      7 ASIA SUMMIT ENDS IN HISTORIC FAILURE WWW.CNN.COM PUBLISHED:2018/11/19      8 INAUGURATION OF SHERAB KYETSEL LING INSTITUTE WWW.DALAILAMA.COM PUBLISHED:2018/11/19      9 US-MONGOLIA 'THIRD NEIGHBOR TRADE ACT' ON THE WAY WWW.THEDIPLOMAT.COM PUBLISHED:2018/11/17      10 CHINA'S FIGHT AGAINST SMOG MAKES PALLADIUM 2018'S BEST METAL WWW.MINING.COM PUBLISHED:2018/11/17      БНХАУ-ЫН ОЛОН УЛСЫН ИМПОРТЫН ҮЗЭСГЭЛЭН БНХАУ-ОХУ-ЫН БИЗНЕСИЙН ХАРИЛЦААГ ӨРГӨЖҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/19     АМЧАМ МОНГОЛ 2018 ОНЫ ЖИЛИЙН ТАЙЛАНГИЙН ХУРЛАА АМЖИЛТТАЙ ЗОХИОН БАЙГУУЛЛАА WWW.IKON.MN НИЙТЭЛСЭН:2018/11/19     ЗЭСИЙН ЗАХ ЗЭЭЛД ЦОЙЛУУЛАХ ХАРМАГТАЙ WWW.DNN.MN НИЙТЭЛСЭН:2018/11/19     ГАШУУНСУХАЙТ АВТО ЗАМ ХХК: БЯМБА ГАРАГТ ГАШУУНСУХАЙТ-ГАНЦМОД БООМТООР НҮҮРС ТЭЭВРИЙН 99 АВТОМАШИН НЭВТЭРСЭН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/19     НЭГ АЖИЛТАНД НОГДОХ ДНБ III УЛИРЛЫН БАЙДЛААР 3.7 САЯ ТӨГРӨГ БОЛЖ ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/19     ХЯТАДЫН ХЯЗГААРЛАЛТ $300-450 САЯЫГ ГАЦААНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/19     АЗЕРБАЙЖАН УЛС МАНАЙД ДАРС НИЙЛҮҮЛЭХЭЭР БОЛЛОО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/19     ШУУДАН, ХАРИЛЦАА ХОЛБООНЫ САЛБАРЫН ОРЛОГО ОНЫ ЭХНИЙ 9 САРД 21.4 ХУВИАР ӨСӨВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/19     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    

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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Dubai Airport Traffic Slows as Oil Slump Hits Emirates www.bloomberg.com

 
Dubai International Airport predicted passenger growth this year will be the slowest in a decade, underscoring the challenges facing the aviation industry in the region after years of aggressive expansion.
 
The Persian Gulf hub expects to lure 89 million travelers in 2017 it said Tuesday, a 6.4 percent gain that would be the weakest in 10 years, excluding 2014, when runway repairs limited takeoffs and landings for more than two months. The traffic advance slowed to 7.2 percent last year from 10.7 percent in 2015, giving a total of 83.6 million customers, as global economies faltered and lower oil prices clipped Middle Eastern travel.
 
Dubai International still outperformed many rival hubs in Europe, where a spate of terrorist attacks weighed heavily on numbers. Anticipating future capacity constraints, the sheikhdom is spending $36 billion on a new hub where flagship carrier Emirates is due to shift flights. Chief Executive Officer Paul Griffiths said he remains confident of overtaking Atlanta Hartfield-Jackson and Beijing Capital to become the world’s busiest airport in coming years.
 
“The growth is very, very significant compared to other airports around the world, about three times the average rate of growth for our competitors,” Griffiths said in an interview with Bloomberg Television. “Our aircraft movements aren’t growing quite so quickly mainly because of capacity constrictions and slot constraints.”
 
Emirates, which operates the majority of flights in Dubai, told Bloomberg last month that 2016 was “not a good year” as oil executives and bankers reined in travel, terrorism dented demand and regions including sub-Saharan Africa saw travel slump, adding that 2017 “could be even flatter.”
 
Dubai is also partly constrained by its own success, with the airport already attracting almost 8 million more passengers than chock-full London Heathrow, which it overtook in 2014 to become the world’s busiest international hub, even though both sites have only two runways apiece. Peak hours are already crowded with aircraft movements, and it’s tougher to attract carriers to operate services during the troughs in between.
Global Rivals
 
In 2015, Dubai International climbed to the third spot in the world rankings, behind Atlanta, the main base for Delta Air Lines Inc., and Beijing. The Chinese hub added 5 percent more passengers in 2016, for a total of 94.3 million, while Atlanta, which lured 101 million people in 2015, has yet to report figures.
 
Capacity at Dubai International is scheduled to reach 118 million travelers annually by 2023, with the expansion to be funded mainly from retail concessions so that user fees are kept down. Improvements to travel flows and the quality of service are regarded as vital since almost 50 percent of the people who change planes at the airport could use another hub, Griffiths said.
 
India remains the airport’s largest market, accounting for flights involving 11 million passengers last year, while Saudi Arabia moved into second spot with 6.09 million, edging out the U.K. on 6.06 million. At the same time, London snatched the top spot among destination cities, with 3.75 million travelers, displacing Doha in nearby Qatar, where the tally was 3 million.
 
The average number of passengers per flight at Dubai International increased 4 percent to 209, the highest in the industry, swelled by the more than 90-strong Airbus Group SE A380 superjumbo fleet at Emirates.
 
Dubai’s new airport, Al Maktoum International, will expand capacity to 26 million passengers by the end of the third quarter of this year, from 7 million now, Griffiths said. The next phase of growth will see that jump to 120 million by 2025, when Emirates will move its operations. Ultimately, total capacity is slated to reach 240 million passengers.
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BHP iron ore output breaks records www.mining.com

 
The world's number one mining company BHP Billiton (NYSE:BHP) reported record half-year production at its Western Australia iron ore division on Tuesday.
The Melbourne-based giant said thanks to the continued ramp up of additional capacity at its Jimblebar operations in Western Australia production at its iron ore unit rose 4% year-on-year to 117.6m tonnes for the six months to end-December.
For the quarter output was 60m tonnes, ahead of market expectations and BHP is sticking to its full-year production guidance of 265m–275m tonnes.
Coking coal production improved to 21m tonnes for the six-month period on the back of a strong performance at the company's four Queensland mines which more than offset the closure of its Crinum operations. For the year BHP expects to produce 44m tonnes of met coal.
Copper production for the half year fell 7% to 712,000 tonnes due to a power outage at its Australian Olympic Dam operations in September-October. BHP cut full year guidance by 40,000 tonnes to 1.62m tonnes, but maintained its guidance for its majority-owned Escondida mine.
Escondida is the world's largest copper mine by a large margin and BHP expects the pits to producer 1.07m tonnes during its 2017 financial year. Production increased 8% quarter on quarter and BHP said mechanical completion was achieved at the Escondida Water Supply project with first water expected in the March 2017 quarter.
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Wall Street: S&P and Nasdaq close at fresh records www.bbc.com

 
Wall Street posted solid gains, with the S&P 500 and Nasdaq indexes reaching record highs.
Mining, energy, and financial stocks were among the big gainers, with healthcare and telecoms among the main losers.
The Dow Jones rose 0.6% to 19,912.7, and the S&P 500 rose 0.7% to 2,280.07. The Nasdaq added 0.9% to 5,600.9.
Small-company stocks outpaced the rest of the market. The Russell 2000 jumped 1.6% to 1,369.21 points.
Mining and other materials sector companies could benefit from initiatives by the White House to streamline the permitting process for manufacturing and clear the way for pipeline construction.
Energy companies climbed as crude oil prices closed higher. The rally also swept up stocks in US homebuilders.
Healthcare, phone companies and other high-dividend stocks were among the biggest laggards as bond yields rose.
While several big companies reported quarterly earnings, investors focused on the latest batch of executive actions from President Donald Trump.
Trump talks
"The importance of this earnings season has been dimmed only because we all realise there's going to be some changes in policy,'' said J.J. Kinahan, TD Ameritrade's chief strategist. "Now you're trading on the edicts, or whatever they may be, that are coming out of the White House.''
Trump hosted a breakfast meeting with the heads of General Motors, Ford, and Fiat Chrysler, the big three US carmakers that argues should invest more in the US.
The chiefs expressed optimism after the meeting, prompting a rise in carmakers' shares. GM gained 1%, Ford added 2.4%, and Fiat Chrysler rose 5.8%.
Verizon fell 4.4% after the phone and communications company posted earnings for the last three months of 2016 that fell short of what analysts' forecasts.
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Toyota announces investment in Indiana www3.nhk.or.jp

 
Toyota Motor says it will invest about 600 million dollars to improve its plant in the US state of Indiana and hire 400 local workers.
The investment is part of a plan that Toyota unveiled earlier this month. The Japanese automaker said it would invest 10 billion dollars in the United States over the next 5 years.
Before his inauguration, President Donald Trump criticized the firm's plan to build a new factory in Mexico. Toyota has repeatedly stressed that it is contributing to the US economy through investment and employment.
Vice President Mike Pence is a former governor of Indiana. Toyota President Akio Toyoda met Pence earlier this month.
Japanese automakers are concerned about possible pressure from the United States. Trump criticized Japan on Monday for engaging in trade practices that he says are unfair to US automakers.
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Chile seeking economic partnerships without US www3.nhk.or.jp

 
 
Chile is inviting TPP members and other countries to a meeting, in a bid to forge economic partnerships without the United States.
The move comes after US President Donald Trump signed a presidential memorandum withdrawing the US from the Trans-Pacific Partnership agreement on Monday.
An official at the Chilean foreign ministry told NHK on Tuesday that the country is inviting non-TPP members such as China, South Korea, and Colombia to the ministerial meeting in March. The meeting will take place in the central Chilean city of Vina del Mar.
Chile is one of the 4 countries that created the "Pacific 4 Agreement," which became the framework for the TPP pact.
The Chilean foreign ministry official said that countries participating in the meeting would have good opportunities to discuss the future of regional and global trade.
 
 
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Oyu Tolgoi releases Q4 Production Report and 2016 Scorecard www.mongolia.goog.mn

Oyu Tolgoi today announced an update on its production for the fourth quarter of 2016 and, released the latest edition of its Performance Scorecard.

Oyu Tolgoi performed better than target on safety in 2016, and continuing to be one of the leading safety performers across Rio Tinto and peers in the broader mining industry.
Armando Torres, Managing Director – Oyu Tolgoi, said, “The Oyu Tolgoi team delivered a strong performance over 2016 despite significant operational and market challenges. Our safety performance continues to be one of the best in Rio Tinto – and indeed, across our global mining peers, achieving an All Injury Frequency Rate of 0.22 for the year. Oyu Tolgoi also achieved record setting performance in the open pit operation, and underground development continues to progress well – establishing a strong foundation for the year ahead.”
Oyu Tolgoi’s open pit mining and concentrator operations in 2016 achieved record levels for material mined and ore treated, and exceeded both copper and gold production guidance for the year. Concentrator performance during the fourth quarter was strong with the highest throughput since production began.
During Q4’16, progress continued in key areas of underground development with the national workforce working on the underground project crossing 2,000 personnel; Shafts 2 and 5 related activities and construction of critical on-site facilities continued, and the bulk excavation component for the conveyor-to-surface work stream was completed. Lateral development rates are progressing well with a further increase expected in 2017, when additional underground crushing capacity is added.
Oyu Tolgoi is expected to produce 130,000 to 160,000 tonnes of copper in concentrates and 100,000 to 140,000 ounces of gold in concentrates for 2017.
Q4’16 Scorecard
Oyu Tolgoi’s total in-country spend since 2010 crossed US$6.1 billion at the end of Q4 – demonstrating a strong, continuing commitment to local content in both operations and underground development, including US$760 million total spend in country in 2016.
The company continued its world-class environment performance, achieving an annual average water recycling rate of 86.2 per cent, and using only 0.423 cubic metres of water per tonne of ore processed – one-third the usage of comparable operations worldwide.
At the end of 2016, 93.5 per cent of Oyu Tolgoi’s total workforce was Mongolian, including 96 per cent Mongolian employees at the open pit mining and concentrator operations; and with South Gobi residents comprising 22 per cent of the total workforce.
Oyu Tolgoi continued its strong contribution to the South Gobi community in 2016 achieving procurement spends of US$69 million, and investing US$9.7 million in sustainable development and community infrastructure projects in the region. Two major infrastructure projects saw significant progress in the last quarter, with the Bayan-Ovoo Primary Health Care Center, a two-story building with 10 beds, a surgery and birthing room, and employing 18 staff, including doctors and nurses completed, and the Khanbogd bulk water treatment plant nearing commissioning.

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Presidential election expected on June 26 www.en.montsame.mn

Ulaanbaatar /MONTSAME/ The Standing Committee on State Structure backed the parliamentary resolution on designating the date of the upcoming Presidential Election. The resolution suggests that voters in Mongolia will cast their ballots in the Presidential election on June 26, 2017.

The Mongolian nationals, living outside the country, would register their votes on June 10 and 11.

The decision will be legitimized after the approval by the State Great Khural.

In the interview with MONTSAME, Chairman of the General Election Committee Ch.Sodnomtseren noted that the date of balloting is being announced in accordance with the Law on Elections, as it provides that the election date must be settled at least 150 days prior to the election. The law also provides that elections should be held in the last week of June.

Pursuant to the Constitution of Mongolia, a presidential candidate must be a citizen of Mongolia, aged 45 years or more, must have lived in Mongolia for the five years to the candidature and be a member of political party that has at least one seat in the parliament.

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US exit from TPP may open the door to China www.rt.com

President Trump's decision to pull the US out of the Trans-Pacific Partnership (TPP) may open the way for China to step in and fill the vacuum.
Earlier this week, Donald Trump signed an executive order ending the participation of US in the trade deal. The President also promised to renegotiate the North American Free Trade Agreement (NAFTA) sealed with Canada and Mexico.

TPP was signed last February by the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile, and Peru after more than five years' negotiation. The countries account for more than 40 percent of the global economy and nearly a third of the world trade.

Japan, Mexico, and Australia have already said they intend either to try and keep the deal functining or to reshape it into something similar.

Trump’s move has been criticized by some.

“Trump has single-handedly given away an enormous source of leverage over China. The first rule of negotiating is don't give away something for nothing, and he's done that right off the bat,” said Edward Alden, a senior fellow at the Council on Foreign Relations, as quoted by CNN Money.

“It will create an opening for China to rewrite the economic rules of the road at the expense of American workers,” said Senator John McCain, a former Republican presidential nominee.

China is pursuing its own trade deal known as the Regional Comprehensive Economic Partnership (RCEP) and involves the ten member states of the Association of Southeast Asian Nations (ASEAN) and the six states with which ASEAN has existing free trade agreements, including Japan and Australia.

If the deal succeeds, China could become the center of a vast free trade area.

“We are willing to work with all countries to pull together in times of difficulties so that we can fulfill our responsibility and make our effort in resolving problems facing the world today,” the Chinese foreign ministry said on Tuesday, adding that significant progress has been made on RCEP.

Last week, Chinese President Xi Jinping delivered a speech in defense of globalization, warning against protectionists who want the end of free trade.

At the same time, China has been accused of protecting its big state-owned corporations at the expense of foreign firms as well as limiting access to its domestic market.

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Alcoa beats revenue estimates, sees higher aluminum demand www.reuters.com

Alcoa Corp (AA.N) reported higher-than-expected revenue in its first quarterly results after the metals company split into two in November, helped partly by a rise in alumina prices.

The producer of aluminum, alumina and bauxite also said it expects a 4 percent growth in global aluminum demand in 2017 even as the market remains modestly oversupplied.

The company's shares were up 2 percent in after-market trading on Tuesday. The stock has risen 42 percent since Donald Trump's victory in the Nov. 8 U.S. presidential election.

Alcoa's results come at an interesting time for the global aluminum industry.

The Chinese government's stimulus to boost the economy have lifted demand. Added to that, a stimulus package proposed by Trump could further help aluminum producers such as Alcoa.

But there is also the risk of a trade war with China after the outgoing Obama administration launched a new complaint earlier this month against Chinese aluminum subsidies at the World Trade Organization.

Alcoa said it expects a 6 percent increase in demand from China, driven by packaging, electrical, transportation sectors.

Alcoa said it expects bauxite and alumina markets to be relatively balanced in 2017, and "a modest" global aluminum surplus of 400,000-800,000 metric tons due to higher output in top producer China.

Alcoa generated $2.54 billion in revenue in the quarter, beating the average analyst estimate of $2.46 billion, according to Thomson Reuters I/B/E/S.

The New York-based company reported net loss of $125 million, or 68 cents per share, for the fourth quarter ended Dec. 31.

"Rising alumina and aluminum prices improved the bottom line," Chief Executive Officer Roy Harvey said in a statement, adding that margins doubled in the company's alumina segment.

Alcoa's spun-off unit Arconic Inc (ARNC.N), which provides aluminum and titanium alloys used in planes and cars, is expected to report on Jan. 31.

(Reporting by Sruthi Shankar and Sweta Singh in Bengaluru; Editing by Saumyadeb Chakrabarty)

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Super-rich American ‘preppers’ buying in New Zealand ready for US doomsday www.rt.com

Wealthy Americans are preparing for a possible US collapse or revolt by the poor and buying properties in New Zealand, The New Yorker magazine reported.

According to writer Evan Osnos, preppers from Silicon Valley and New York are getting ready for the "crackup of civilization."

One American hedge-fund manager who owns two New Zealand homes told Osnos he expected at least a decade of political turmoil in the United States. PayPal co-founder and Facebook investor Peter Thiel also owns property there, and has described New Zealand as "utopia."

Osnos said it's unclear exactly how many wealthy Americans are buying property in New Zealand with the apocalypse in mind, while many just want a holiday home there. However, the amount of land they have purchased in the last few years has increased dramatically, he added.

Statistics showed foreigners had bought over 3500 square kilometers of New Zealand in the first ten months of 2016, which is over four times as much as they did in the same period in 2010.

LinkedIn co-founder Reid Hoffman told The New Yorker that New Zealand had become the hot topic among Silicon Valley leaders lately.

"Saying you're 'buying a house in New Zealand' is kind of a wink, wink, say no more. Once you've done the Masonic handshake, they'll be, like, 'Oh, you know, I have a broker who sells old ICBM silos, and they're nuclear-hardened, and they kind of look like they would be interesting to live in."

Hoffman estimated that over half of the Silicon Valley insiders were into preparedness - especially since anti-elite sentiment has risen around the globe in recent years. It was intensified by events like Brexit and the election of Donald Trump, he added.

According to the NY article, in the seven days after Trump’s election, 13,401 Americans registered with New Zealand’s immigration authorities, which is the first step toward seeking residency. The number was “more than seventeen times the usual rate.”

Meanwhile, the growing foreign appetite for New Zealand has already generated resentment. The Campaign Against Foreign Control of Aotearoa—the Maori name for New Zealand—opposes the sell-out to foreigners, particularly to American survivalists.

In a discussion about New Zealand on prepper website Modern Survivalist, one of the commentators wrote, “Yanks, get this in your heads. Aotearoa NZ is not your little last resort safe haven.”

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