1 TOP 10 RICHEST PEOPLE IN MONGOLIA 2018 MONGOLIAN BILLIONAIRES WWW.ELITESHARED.COM PUBLISHED:2018/07/22      2 IRKUTSK REGION'S EXPORT OF CHICKEN EGGS TO MONGOLIA ALMOST DOUBLED WWW.RUSEXPORTER.COM PUBLISHED:2018/07/21      3 86 PERCENT OF ACTIVE ENTITIES IN MONGOLIA HAVE UP TO 9 EMPLOYEES WWW.GOGO.MN PUBLISHED:2018/07/20      4 MONGOLIA TAKES STEPS TO BOOST CASHMERE PRODUCTION WWW.NEWS.MN PUBLISHED:2018/07/20      5 HIV INFECTIONS RISES TO 262 IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2018/07/20      6 FRONTCLEAR FACILITATES A LANDMARK TRANSACTION WITH STATE BANK MONGOLIA, EBRD AND ING BANK WWW.KTVN.COM PUBLISHED:2018/07/20      7 MONGOLIA COULD BE RIO'S COPPER GROWTH KEY WWW.MINING-JOURNAL.COM PUBLISHED:2018/07/20      8 FOREIGN OFFICE MINISTER MARK FIELD VISITS MONGOLIA WWW.GOV.UK PUBLISHED:2018/07/20      9 ZOO-BRED PRZEWALSKI’S HORSES ARE FREED INTO THE PLAINS OF MONGOLIA WHERE THEIR ANCESTORS ROAMED FOR CENTURIES HAVING BATTLED BACK FROM JUST ONE SURVIVING WILD ANIMAL WWW.DAILYMAIL.CO.UK PUBLISHED:2018/07/20      10 MONGOLIAN AND CHINESE JOINT VENTURE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2018/07/20      ТАВАНТОЛГОЙ-ЗҮҮНБАЯН ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫГ БАРИХ АЖИЛ ЭХЛЭЭД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/22     ШИНЭ УРГАЦ ГАРЧ ЭХЭЛСЭН Ч НОГООНЫ ҮНЭ ӨНДӨР ХЭВЭЭР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/20     АВТОЗАМД ҮҮССЭН ХОХИРЛЫН ХЭМЖЭЭ 1,3 ТЭРБУМ ТӨГРӨГТ ХҮРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/20     BURBERRY БРЭНД 32.6 САЯ АМ.ДОЛЛАРЫН ҮНЭ БҮХИЙ БАРАА БҮТЭЭГДЭХҮҮНЭЭ ШАТААЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/20     ИРГЭДЭЭС ЦУГЛАСАН ХАНДИВААР ГАЛ УНТРААХ ТОНОГ ТӨХӨӨРӨМЖ АВЧЭЭ WWW.DNN.MN  НИЙТЭЛСЭН:2018/07/20     ГААЛИЙН БАЙГУУЛЛАГЫН ТӨСӨВТ ТӨВЛӨРҮҮЛСЭН ОРЛОГО 1.2 ИХ НАЯД ТӨГРӨГТ ХҮРЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ИХ БРИТАНИЙН АЗИ НОМХОН ДАЛАЙН БҮС НУТГИЙГ ХАРИУЦСАН САЙД МАРК ФИЙЛД МХБ-Д ЗОЧИЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ЭКО АЛТНЫ УРАМШУУЛЛЫГ МОНГОЛБАНК ОЛГОХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/20     ЯМАШИТА МАМОРҮ: МОНГОЛД ДУНДАЖ ЦАЛИНГ ТЭТГЭВРИЙН ХЭМЖЭЭТЭЙ УЯЛДУУЛЖ ТООЦОХ МЭРГЭЖЛИЙН БАГ ХЭРЭГТЭЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/20     ХЯТАД УЛС БИЗНЕСИЙН ОРЧНОО САЙЖРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/19    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Nissan's net profit skids down 13.3 pct on year in H1, brisk sales in China, N. America cap losses www.xinhuanet.com.cn

TOKYO, Nov. 7 (Xinhua) -- Nissan Motor Co. announced Monday that its group net profit in the first half of fiscal 2016 dropped 13.3 percent from a year earlier, owing to the strength of the Japanese currency eroding profits made overseas, although robust sales in its Chinese and North American markets helped to limit the firm's overall losses.
 
According to the Yokohama-based manufacturer, the firm's group net profit in the fiscal first half came in at 282.43 billion yen (2.70 billion U.S. dollars), with its consolidated operating profit dropping 14 percent in the April to September period to 339.73 billion yen, based on sales of 5.32 trillion yen, which is a decrease of 10.3 percent for the period.
 
Nissan, the maker of the March subcompact and Leaf electric vehicle, however, maintained its earnings forecasts for the full business year through March 31, stating that it expects an uptick in its group net profit by 0.2 percent from a year earlier to 525 billion yen.
 
"We have a strong product lineup in the second half to help us reach this target," Hiroto Saikawa, Nissan's co-chief executive, was quoted as saying, adding that the yen could be blamed for creating headwinds for the firm.
 
Nissan, however, said it now projects its operating profit to decelerate 10.5 percent to 710 billion yen, based on sales of 11.8 trillion yen, which is a 3.2 percent decrease from earlier estimates.
 
Weak domestic demand and the yen's comparative strength have both impacted Nissan's profit margins and future guidance, with its capital share tie-up with Mitsubishi Motors Corp. in October, which itself has been embroiled in a fuel economy data test scandal, contributing to the firm's circumspect outlook.
 
The halt in sales of Mitsubishi Motors' models affected by the fuel efficiency data manipulation scandal was largely responsible for domestic sales skidding down by 20 percent in the first half of the year, Nissan said.
 
But the carmaker added that it had shifted 2.61 million vehicles globally from April to September, down just 0.1 percent from a year earlier, owing to brisk sales in China and North America.
 
 
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Facebook takes on LinkedIn with new job opening features www.reuters.com

Facebook Inc (FB.O) said on Monday, it was testing a feature that would let page administrators create job postings and receive applications from candidates, a move that could pressure LinkedIn Corp's (LNKD.N) recruiting business. "Based on behavior we've seen on Facebook, where many small businesses post about their job openings on their Page, we're running a test for Page admins to create job postings and receive applications from candidates," a company spokesman told Reuters.
 
LinkedIn makes most of its revenue from job hunters and recruiters who pay a monthly fee to post resumes and connect with people on what's often known as the social network for business.
 
Technology news website TechCrunch first reported the news on Monday. (tcrn.ch/2fwHLSB)
 
With Facebook's jobs features, companies could drive more traffic to their Facebook pages while allowing them to pay the social network to get their job openings in front of more candidates, TechCrunch said.
 
In October, Facebook launched Marketplace to allow people to buy and sell items locally as the social media network tries new ways to keep its users engaged.
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Chinese Mainland and Taiwan to team up in 5G technology research www.chinadaily.com.cn

The Chinese Mainland and Taiwan plan to work together to promote research and industrial cooperation on the fifth generation (5G) mobile network technology, experts and company executives said on Monday.
Their comments came after the Chinese mainland finished the first phase of 5G research and testing in September that focused on 5G wireless and key technologies. Domestic and overseas enterprises such as Huawei Technologies Co Ltd, Ericsson AB and Samsung Electronics Co Ltd have all played an active part in the process.
 
Yang Zemin, vice president and secretary general at China Communications Standards Association, said that he has an optimistic view of the opportunity for Taiwan-based firms to participate in the mainland's second phase of experimental work on 5G.
 
"Both the mainland and Taiwan have open minds for deep cooperation in [the] future, and the two sides can work together to help formulate global 5G standard," Yang said at a cross-straits CEO summit in Xiamen, Fujian province.
 
Cliff Lai, general manager at Taiwan Star Telecom Corp, a mobile network operator in Taiwan, said that currently most operators in Taiwan have launched the VoLTE service. However, due to the low data pricing, Taiwan-based firms lack a strong driving force for enhancing its development.
 
VoLTE stands for voice calls provisioned over a 4G LTE data network, rather than the 2G or 3G networks that are commonly used. It is a 4G technology that allows users to have better quality phone calls and high-definition video calls.
 
"I really look forward to working with the Chinese mainland. By working together, we can seek a better business model to profit from the VoLTE service."
 
In his point of view, the two sides will probably also work within the semiconductor business, especially the chips.
 
According to data from the US International Trade Administration, the Chinese mainland is the largest consumer market of semiconductors, accounting for more than half of global consumption in 2015. And Taiwan's semiconductor business is the world's second-largest in terms of output.
 
"Through the cooperation, Taiwan can fully access the mainland's market and compete with foreign chipmakers, such as the US-based Qualcomm Inc. For the mainland, it can have bigger development opportunities," Lai added.
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Baidu 'to raise up to $500m' for Waimai www.chinadaily.com.cn

Baidu Inc is seeking to raise as much as $500 million for its Waimai food delivery unit amid a costly battle with other Chinese internet giants for customers, according to people familiar with the matter.
 
The company is looking for at least $300 million and the funding round hasn't been finalized, the people said, asking not to be identified as the details are private.
 
Using scooters to supply everything from Starbucks coffee to sliced sashimi, Waimai is in a pitched battle with rivals to sign up delivery men and to convince restaurants to join its service. Baidu is up against Ele.me, which scored a $1.25 billion investment from Alibaba Group Holding Ltd, and the Meituan-Dianping business backed by Tencent Holdings Ltd.
 
Baidu declined to comment on any funding plans. The company has previously strongly denied Chinese media reports that it was considering a sale or merger of Waimai and its Nuomi group buying unit.
 
Baidu shares fell about 0.5 percent on Friday in US trading to $167.70. The stock has dropped 11 percent this year after a 17 percent slump in 2015.
 
Heavy investment in the online-to-offline, or O2O market, has driven up costs as companies pay subsidies to build out their services and win market share. The battle has already claimed victims, with Berlin-based Delivery Hero abandoning the Chinese market earlier this year.
 
The battle for customers has become increasingly hostile. In August, Baidu sued Tencent and Sohu.com Inc over a spate of articles it said defamed Waimai by purporting to expose poor hygiene at restaurants on its service.
 
Baidu has invested heavily in sectors outside its dominant desktop search business as it tries to find new growth as users switch to mobile devices.
 
 
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Govt. to promote business using personal data www3.nhk.or.jp

The Japanese government plans to create an "information bank" to tap the huge archive of personal data on the Internet in a bid to promote new business. This comes amid the rapid growth of IoT, or Internet of Things, technology.
 
According to a proposal compiled by an industry ministry task force, the bank will serve as a data broker for people who agree to share personal information.
 
The ministry group plans to design a data distribution mechanism and the legal framework.
 
They say the proposed bank would allow companies to develop new services. For instance, an automaker could share GPS data on vehicle movement with an insurance firm.
 
The insurer could then use that information to provide policies tailored to the specific needs of individual motorists.
 
Some of the information could be quite personal in nature, including data on assets and health.
 
The task force members say they will consider working with private-sector firms to design a secure way of handling such information.
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Trump vs Clinton: Who is better for Asia? www.bbc.com

 

Call it the Brexit effect. Asian investors and traders were caught by surprise in June when the UK voted to leave the European Union.
At the time, most had priced in a scenario where the UK would vote to remain in the EU. When the opposite happened, stocks fell and sentiment soured.
Fast forward a few months, and this time round the environment has become even more uncertain.
As equity markets research house Nomura puts it "the election has become the largest 'known-unknown' markets have had to deal with since the global financial crisis (far more than the Brexit vote, previous US elections, multiple European elections, US debt ceiling debates, OPEC meetings or even Fed decisions)."
So no surprise then that investors in Asia have been extremely nervous ahead of the vote, and are hedging their bets this time round.
Fool me once, as the adage goes. Brexit proved that complacency has a high price-tag, and if there's anything that 2016 has shown us it's that never assume the impossible isn't possible.

Trade:
When it comes to trade, Asia appears to prefer Clinton as she is seen as a case of "better the devil you know".
Both candidates have already indicated they won't push through with the Obama-backed Trans Pacific Partnership agreement but some US media have reported that if elected Mrs Clinton may be willing to support it in a different form.
Asian economies like Malaysia and Vietnam have most to benefit from the TPP being ratified.
Meanwhile, a Trump presidency is being seen as a major negative for Asia's trade prospects. The most likely scenario, according to research house Capital Economics, is the use of "the threat of tariffs as leverage in negotiations."
Mr Trump has said he'll slap a 45% tariff import on all US imports from China. Capital Economics says this would hurt China's electronics sector, which accounts for 50% of total Chinese exports to the US.
Visas and immigration:
Again, a Clinton presidency appears to be Asia's pick when it comes to immigration and visas.
Capital Economics says that if Mr Trump were to be elected president, then his plans to "punish American companies that outsource jobs abroad" would hurt countries like the Philippines and India.
Both countries have major outsourcing industries which rely on American firms being able to continue to employ the millions of Filipinos and Indians who have seen their livelihoods improve as a result of increased wages in the outsourcing sector.
Mr Trump has also warned of banning immigrants from countries where there is a "proven history of terrorism against the US or allies". This is likely to hit countries like India, the Philippines and possibly Indonesia.
Impact on shares and currencies:
The markets have spoken - Asian shares fell dramatically last week on news that the gap between Mr Trump and Mrs Clinton was closing. That's because a Trump presidency is seen as volatile for share markets and currencies.
Conversely, a Clinton presidency is seen as net positive for markets - for similar reasons as we've discussed above. After the FBI said that Mrs Clinton will not face charges over a new batch of emails on her private email server, Asian shares and the US dollar jumped in Asian trade against the Japanese yen.
Bear in mind market volatility should be expected in the lead up to an election and in its aftermath - so don't read too much into the daily see-saw of shares and currencies.
Longer term trends and trajectories are far more important, as are the economic policies the new president will back to support growth in the US. If the US continues on its recovery path, that could help to increase global demand, and lift global growth.

So what next?
All of the political shenanigans may not have mattered in the past, as the US has always been the dominant economic and political superpower for the world, as Eeswar Prasad, Professor in the Dyson School at Cornell University, and the author of "Gaining Currency: The Rise of the Renminbi" points out.
"But times have changed," he writes. "If the US voluntarily withdraws from the world, one country - China - is better positioned than any other to fill the void."
It may already be happening, judging by the visitors China's president Xi Jinping has had over the last few weeks.
First, Filipino leader Rodrigo Duterte - former foe, now turned friend. And then hot on his heels - the Malaysian Prime Minister Najib Razak. Both spoke of warmer ties between Beijing and their countries, and both lauded China's attempts to reach out to South East Asia by funding infrastructure projects and investing in South East Asian companies.
Still, the US hasn't lost out to China just yet. In many parts of Asia, China is increasingly viewed with some envy as well as suspicion. Skirmishes over the South China Sea have raised tensions with Vietnam, Singapore and Indonesia.
But as Mr Prasad points out, "China may offer a poor alternative for global leadership, but it's hard not to see it as an increasingly credible one."
As American voters decide who their next leader is, global influence may not be their top priority. But the impact of whoever they choose will be felt in this region for years to come.

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Samsung raided in political corruption probe www.bbc.com

South Korean prosecutors have raided the offices of Samsung Electronics as part of a probe into the political scandal around President Park Geun-hye.
The prosecutors are investigating allegations that Samsung gave money to the daughter of Choi Soon-sil, a close friend of the president.
Ms Choi is accused of using their friendship to interfere in politics and solicit business donations.
Samsung confirmed the raids to the BBC saying they had "no further comment".
President Park has apologized for her ties to Ms Choi but faces mounting calls to resign.
In this latest twist of the scandal that's been rocking South Korea for weeks, prosecutors are investigating allegations that Samsung might have provided €2.8m euros ($3.1m, £2.5m) to a company co-owned by Ms Choi and her daughter, to bankroll the daughter's equestrian training in Germany.
Prosecutors are also reported to have raided the offices of the Korea Equestrian Federation and the Korea Horse Affairs Association.
Ms Choi was arrested on 3 November and charged with fraud and abuse of power.

Over the past days, tens of thousands of South Koreans have protested in the capital, Seoul, to demand the resignation of President Park over the corruption row.
Ms Choi, a long-time friend of Ms Park's, is the daughter of Choi Tae-min, a shadowy quasi-religious leader who was closely linked to Ms Park's father, then-president Park Chung-hee.
She is alleged to have pushed businesses to donate millions of dollars to foundations she controlled, helped choose presidential aides, and even picked the president's clothes.
Ms Park has since apologised on TV for allowing her long-standing friend inappropriate access to government policy-making. The president admitted she had let Ms Choi edit her speeches.
President Park has already replaced her prime minster, reshuffled her cabinet and dismissed several aides, but there are growing calls for her resignation or impeachment.

The scandal has left Ms Park with an approval rating of just 5%.
Choo Mi-ae, leader of the main opposition Democratic Party, said she did not believe the apology was genuine and called on her to accept a new prime minister recommended by parliament.
Ms Park became her country's first female president when she was elected in a close-run contest in December 2012.

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Russia, China agree to jointly develop Far East www3.nhk.or.jp

Russia and China have agreed on a range of economic cooperation, including the development of Russia's Far East.

Russian Prime Minister Dmitry Medvedev welcomed Chinese Premier Li Keqiang to St. Petersburg on Monday for a conference on trade and investment.

Business leaders from both countries also attended the conference.

During the meeting, Russia's major oil company Rosneft agreed to sell a 20 percent stake in its subsidiary to a Chinese company for 1.1 billion dollars.

The subsidiary has been developing the Verkhnechonsk oil field in East Siberia.

The oil field has an estimated reserve of 1.2 billion barrels and is expected to be a key source of Russia's oil exports to the Asia-Pacific region.

The deal was signed by executives from both companies in the presence of the two prime ministers.

At a news conference, Medvedev said that Russia and China reaffirmed their commitment to jointly developing Russia's Far East region.

Russia is also seeking cooperation from Japan in the energy sector and in the development of its Far East.

Analysts say Russia aims to obtain as much economic cooperation as possible from the 2 countries while its economy is in a dire situation due to sanctions by Western nations over Ukrainian issues.

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Prime Minister urges mining companies to agree on coal price www.montsame.mn

Ulaanbaatar /MONTSAME/ Prime Minister J.Erdenebat gave a concrete task for a certain period of time to the companies, operating Tavantolgoi mine, reports the Premier’s spokesperson G.Otgonbayar. The head of government insisted the companies to reach an agreement for the common goal of protecting the “Mongolian Coal” brand name, otherwise the Government will intervene.

The Erdenes Tavantolgoi, the Energy Resource and the Tavantolgoi are operating coal mines. The PM noted, regardless who is operating the mine, the Tavantolgoi coal is a property of the Mongolian people. However, the coal industry has been going unprofitable over the past several years due to the series of attempts by the three companies to drag each other’s prices down, he said.

He gave a serious warning to the companies that the Government might consider a price arrangement on the stable commercialization of the Tavantolgoi coal.

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Underground mine to double OT’s annual copper concentrate production www.montsame.mn

 

Ulaanbaatar /MONTSAME/ Prime Minister J.Erdenebat was on a working tour at Oyu Tolgoi mine last weekend. He urged the leaders of the company to hire more Mongolians, and focus on improving their professional skills.

The role of the Oyu Tolgoi project in Mongolia’s growth will not be measured solely by the tax contribution, he noted. The project should result in intensified economic growth and broadened business opportunities through providing jobs for Mongolians and the national contractors. Thus, the project is expected to triple in efficiency and to benefit the GDP growth, foreign exchange reserve and macroeconomic growth. OT employs some 1,600 Mongolians.

Executive Director of Oyu Tolgoi LLC B.Munkhbaatar said: “More than 90 percent of the employees of the underground mine development project are Mongolians. As of the third quarter of 2016, the project is working with 852 contractors and suppliers, 60 percent of whom are national companies. The exploitation of the underground mine will begin in 2020. It will add another hundred tons of copper in concentrate to the original annual capacity of 100 tons from the open pit mine”.

The Prime Minister once again reminded that any decisions and actions regarding the project should be reported transparently, with accent on the assets it is creating in the Mongolian territory.

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