1 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      2 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      3 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      4 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      5 BIOGRAPHY OF TAVAN TOLGOI RESIDUAL COAL DEPOSITS WWW.ZGM.MN PUBLISHED:2018/07/16      6 NAGOYA BASHO LOSES LAST OF THREE YOKOZUNAS WWW.MONTSAME.MN PUBLISHED:2018/07/16      7 CHINA'S GDP HITS 6.7% IN Q2 OF 2018 WWW.CHINADAILY.COM.CN PUBLISHED:2018/07/16      8 US-CHINA TRADE WAR DIMS BRIGHT FUTURE FOR SEMICONDUCTORS WWW.ASIA.NIKKEI.COM PUBLISHED:2018/07/16      9 RIGHTS GROUPS URGE BETTER TREATMENT FOR MONGOLIA CHILD JOCKEYS WWW.REUTERS.COM PUBLISHED:2018/07/16      10 TPP CHIEF NEGOTIATORS TO MEET IN JAPAN WWW.NHK.OR.JP PUBLISHED:2018/07/16      МАНАЙ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛ ДЭЭШИЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/16     “ЭРДЭНЭС-ТАВАНТОЛГОЙ” 40 САЯ ДАХЬ ТОНН НҮҮРСЭЭ ОЛБОРЛОЖЭЭ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/07/16     1,5-2 САЯ ТӨГРӨГИЙН ЦАЛИНТАЙ ЖОЛООЧИЙН АЖЛЫН БАЙРНЫ БҮРТГЭЛ ЭХЭЛЛЭЭ WWW.ZINDAA.MN НИЙТЭЛСЭН:2018/07/16     ОЛОН МЯНГАН НИСЭХ ОНГОЦ ШИНЭЭР ҮЙЛДВЭРЛЭХ ШААРДЛАГАТАЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     КРИПТОВАЛЮТЫН ТАЛААРХ ХОРООНЫ БАЙР СУУРЬ ХЭВЭЭРЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/16     ОРОСЫН ЭДИЙН ЗАСГИЙН ӨСӨЛТӨД ДАШТ-2018 НӨЛӨӨЛӨХ НЬ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     ЗҮҮН ӨМНӨД АЗИ ХАНШАА ХАМГААЛЖ ЭХЛЭВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/16     АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРААС 400 ГАРУЙ САЯ ДОЛЛАР ОЛЖЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/16     МОНГОЛЫН ЭДИЙН ЗАСГИЙН БҮТЭЦ ЭМЗЭГ ХЭВЭЭР БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/10     МОНГОЛ, ВЬЕТНАМЫН ГАДААД ХАРИЛЦААНЫ ЯАМ ХООРОНДЫН ЗӨВЛӨЛДӨХ УУЛЗАЛТ БОЛОВ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/10    

Events

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

NEWS

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ADB and UNICEF sign cooperation agreement to improve water, sanitation and hygiene in schools www.mongolia.gogo.mn

The Asian Development Bank (ADB) and United Nations Children Funds (UNICEF) signed a cooperation agreement to improve water, sanitation, and hygiene (WASH) in schools and dormitories located in rural remote areas of the western region of Mongolia.
This operational cooperation seeks to expand and sustain WASH in schools and dormitories to be supported under the ADB-administered Japan Fund for Poverty Reduction (JFPR) grant for Improving School Dormitory Environment for Primary Students in Western Region Project and a WASH program by UNICEF.
“ADB and UNICEF have, in recent years, initiated a partnership for improving WASH in schools and dormitories in Mongolia,” said Yolanda Fernandez Lommen, ADB’s Country Director in Mongolia. “Poor condition in schools and dormitories has been one of the critical barriers to ensuring equal access to quality education in rural remote areas. By working together, we can use our comparative strengths and develop innovative solutions in remote rural areas where access to water supply, sewerage, and heating remains a challenge.”
“Improving sanitation and hygiene practices for children, their parents and teachers is a priority area for UNICEF’s work in Mongolia,” said Roberto Benes, UNICEF Mongolia Representative. ”By partnering with ADB we will maximize potential to ensure that children in remote areas have equitable, sustainable access to safe water and basic sanitation services in their schools and dormitories, thus, improving their health and learning performance too.”
As part of the cooperation, ADB and UNICEF will support the repair, installation, operations and maintenance of WASH facilities that meet the minimum requirements set by the Ministry of Education, Culture, Science and Sports and the Ministry of Health in 2015. ADB and UNICEF will also develop and disseminate knowledge and build local capacity for better designing, planning and maintaining WASH facilities in schools and dormitories and for promoting hygiene, safe drinking water, and sanitation.
ADB approvals in Mongolia amounted to $297.5 million in 2015, including 4 sovereign loans for $275 million, 2 project grants for $6 million, and 17 technical assistance grants for $16.5 million.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.
UNICEF promotes the rights and well-being of every child and works in 190 countries and territories to translate that commitment into practical action, focusing special effort on reaching the most vulnerable and excluded children, to the benefit of all children, everywhere. For more information about UNICEF Mongolia and its work visit: www.unicef.mn
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Sea buckthorn factory opens beside Khaan Jims resort www.en.montsame.mn

Ulaanbaatar /MONTSAME/ The “Khuba Khaya” sea buckthorn factory opened on November 2. The factory was built with help of German engineering and outline and meets the European standards. It is expected to produce high quality products from seaberry for youthening and relieving stress, as well as beauty and nutritional products.
 
Sea buckthorn, which is proclaimed by Mongolians as the “King Berry”, is richer in Vitamin E than grist, three times in Vitamin A than red carrot, and four times greater content superoxide dismutase than ginseng. The sea buckthorn oil is the only phytogenic source of fatty acids Omega 3,6,7 and 9.
 
The factory is located next to the “Khaan Jims” (King Berry) resort, the site supposedly was under a winter place of Chinggis Khaan.
 
Present at the opening ceremony were some members of parliament, heads of diplomatic missions, famous artists and athletes and businesspeople.
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INSPIREmeFESTIVAL ULAANBAATAR www.mongolianbusinessdatabase.com

Her Majesty’s Ambassador Catherine Arnold, invites you to attend the Business Seminar of the InspireMe Festival on 11 November 2016 at Shangri-la Mall. The Business Seminar is designed to give useful information to mining industry professionals.

Time: 10:00 – 14:00

Location: Art Space Museum Shangri-la Mall, ground floor (Business Zone)

RSVP: 99084708 by 9 November

Dress code: Business attire

Come along during the day and take advantage of an array of thought-leader seminars, fun activities and inspirational talks. See live shows and enjoy special culinary delights designed to inspire your weekend.

The InspireMe festival will be held on 11-12 November showcasing Britain’s businesses, innovation, technology, education, tourism and culture.

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IMF: 2.5-2.7 percent increase is expected by 2017 www.mongolia.gogo.mn

B.Lkhagvasuren, Vice President, Bank of Mongolia reported that Mongolian economic growth forecast is 0-1 percent in 2016 and to be 2-3 percent in 2017 as a result of positive impact shown by construction of Oyu Tolgoi underground mine on non-mining sectors.
Mongolian economy is projected to expand 2.5-2.7 by 2017, according to the World Bank and International Monetary Fund.
Democratic Party Group at State Great Khural has organized an open discussion on budget and monetary policy. During which, D.Gan-Ochir, Head of Statistics Department, Bank of Mongolia stated that external debt reached US$ 1.1 billion this year, while it will reach US$ 4.5 in 2017, adding that the major action to overcome economic difficulties is to decrease macro risks and implement policy to support national production. Also, he noted that the first action should be done is to forward major projects and attract more foreign investment.
According to the latest statistics, foreign direct investment droped to US$ 14.4 in Sep, 2016, resulting fall in macroeconomic indicators. At that time, Mongolia have been discussing to receive loan from the International Monetary Fund. However, the country is able to attract funding from International Monetary Fund maximum of US$ 400 million.
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IMF backs Albania's draft budget and fiscal package for 2017 www.xinhuanet.com

TIRANA, Nov. 2 (Xinhua) -- Albanian government has reached an agreement with an International Monetary Fund(IMF) mission on the country's 2017 budget and key policies underpinning it, officials from both sides said at a press conference Wednesday.
 
Such an agreement was reached under the condition that Albanian authorities should settle the central government arrears, according to Albanian Finance Minister Arben Ahmetaj and head of the IMF mission Anita Tuladhar.
 
An IMF mission led by Tuladhar visited Tirana between Oct. 20 and Nov. 2, during which they held discussions on Albania's 2017 budget as part of the combined ninth and tenth reviews of Albania's extended fund facility (EFF) arrangement.
 
According to Tuladhar, the country's 2017 budget aims to reach a primary surplus of 0.7 percent of GDP.
 
To achieve its fiscal target, the Albanian government has committed to a fiscal package that includes raising oil-related revenues, tightening tax exemptions, and increasing the coverage and strengthening the collections of property tax, she said at the press conference.
 
The head of the IMF mission also said that the budget allows for moderate public wage and pension increases while containing the wage bill, as a percentage of GDP, to 2016 levels, thus giving the green-light to Albanian government decision to increase wages and pensions.
 
On his part, Albanian finance minister said that the growth of foreign direct investments, structural reform and stabilization of the Albania's main trade partners will be main engines of economic growth for a medium-term.
 
Earlier, IMF released a regular report on Central, Eastern and Southeastern Europe, keeping unchanged the projections of Albania's economic growth at 3.4 percent, whereas for next year the country's economy is expected to go up to 3.7 percent. Enditem
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Coal price rally bypassing US miners www.mining.com

Metallurgical coal's dramatic rise this year have caught most observers by surprise and despite predictions of a consolidation price momentum for the commodity seems only to be building. On Wednesday coking coal added another 2.7% trading at $265.50 a tonne bringing one month gains for the steelmaking raw material to more than 24%.
 
According to data provided by the Steel Index premium Australia hard coking coal prices are up more than three-fold since hitting multi-year lows around $70 a tonne in November last year.
 
While not quite setting such a torrid pace the rise in the price of seaborne prices for coal used in power generation has been just as impressive more than doubling in 2016 to settle at $114.75 a tonne on Tuesday, a near four-year high.
 
The rally in seaborne steam coal prices bypassed US miners entirely. In fact, prices for Central Appalachian coal (Nymex FOB) has continued its long-term downtrend. Trading at $40 a short ton, CAP prices are down 7.7% year to date and averaging more than 11% below 2015.
 
Coal from the Powder River basin, (8,800btu/lb) hasn't fared any better, losing 17% since the start of the year to trade at $9 a short ton this week after dipping as low as $8.25 in September.
 
According to EIA data the US exported a meagre 9 million tonnes of coking and 3.8 million tonnes of steam coal during the second quarter of this year. That's an uptick from the first quarter, but less than half the exports racked up when coal was last trading at today's prices.
 
The seaborne coal rally was also spurred by supply issues after Beijing’s decision to limit coal mines' operating days to 276 or fewer a year from 330 before as it seeks to restructure the industry. Chinese government stimulus plans which saw steel production and demand for power pick up only added fuel to the fire.
 
A new report by BMI Research suggest the coal rally may be running out of steam and that thermal coal prices will weaken over 2017 due to both stronger coal mine production and weaker demand growth in China. The researcher, a unit of Fitch, expects fourth quarter 2016 levels to represent the peak of thermal coal prices for the next several quarters.
 
China imported 24.3 million tonnes of coal in September, up more than 33% compared to last year according to official customs data. Over the first nine months of the year imports increased 15% to 180 million tonnes compared to the same period in 2015.
 
In 2011 floods in key export region in Queensland saw the coking coal price touch an all-time high $335 a tonne. Steam coal peaked just shy of $140 a tonne in January 2011.
 
 
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Facebook's profits soar as it continues to swallow online advertising market www.theguardian.com

Facebook almost tripled its profits in the third quarter of 2016 as the social media giant took an even larger slice of the online advertising market. The company reported a 59% year-over-year increase in advertising revenue on Wednesday. Net income for the three months ending 30 September rose to $2.38bn from $896m a year earlier.
 
The jump in profits and revenues comes as traditional publishers are hemorrhaging advertising dollars and announcing cutbacks. News groups including the Daily Mail, the Guardian, New York Times and Wall Street Journal have all announced layoffs in recent weeks.
 
The US election was partly responsible for Facebook’s gains. “Facebook is the new town hall and we are proud of the role that we’ve played in increasing civic engagement,” chief executive officer Mark Zuckerberg told investors during the company’s evening conference call.
 
The company also increased its dominance in mobile advertising. Mobile phones delivered 84% of the ads, up from 78% last year, or revenue of $5.7bn over 90 days. The entire digital ad market for 2016 is estimated at $67.1bn by analytics firm eMarketer. The company’s user base has climbed to 1.79bn monthly active users and 1.18bn who log in at least once a day.
 
The good news came despite some mishaps for the company over the quarter. Facebook has been criticized for the way it handles political discussion, first for obscuring the way human editors managed its Trending module, and then for the way its subsequent algorithm-only curation has promoted fake stories.
 
In September it was revealed that the company had been overestimating video views by between 60% and 80%, a story first published by the Wall Street Journal.
 
More recently, Facebook has come under fire from members of the US Congressional Black Caucus over racial discrimination in Facebook’s housing ads. The lawmakers, including officers GK Butterfield and Yvette Clarke, say racialized ad targeting using Facebook’s “ethnic identities” feature to exclude people from seeing ads by race violates anti-redlining laws including the Fair Housing Act of 1968.
 
 
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Twenty-First Century Fox beats Wall Street expectations www.reuters.com

Twenty-First Century Fox Inc (FOXA.O) reported first-quarter profits on Wednesday that beat Wall Street's expectations, as the company's cable channels and box office saw a boost in revenues.
 
Fox, which is home to Fox News Channel and FX, saw its cable division revenue rise nearly 10 percent to $3.81 billion in the first quarter, accounting for more than half of total revenue.
 
James Murdoch, chief executive officer at Fox, told analysts on a call Wednesday that he expects Fox's strong ratings during the presidential election campaign to help drive affiliate fees as it has some "significant renewals" approaching.
 
Fox News is the most watched cable news network and has maintained strong ratings in the wake of the high-profile departure of its former CEO Roger Ailes.
 
The company is not planning any changes to the network's strategy, Murdoch said on the call.
 
Revenues for its film division, buoyed by last summer's hits, "Independence Day: Resurgence" and "X-Men: Apocalypse" increased 6.8 percent in the quarter ended Sept. 30.
 
Fox does not feel any pressure to make a big acquisition despite the planned acquisition by telecommunications provider AT&T Inc (T.N) of Time Warner Inc (TWX.N), Murdoch told analysts on the call. Fox had made a bid for Time Warner in 2014, only to be rebuffed.
 
"There isn't a heightened appetite for inorganic activities," Murdoch told analysts. "We really try to be very disciplined about this."
 
Similarly, Murdoch said the company is not feeling pressure to come out with its own over-the-top video streaming service like so many of its competitors have. Fox is a part owner of Hulu and has distribution agreements with many over-the-top providers.
 
The Rupert Murdoch-controlled company's shares were flat in after-hours trading on Wednesday.
 
The company's total revenue increased to $6.51 billion from $6.08 billion.
 
Analysts on average were expecting revenue of $6.49 billion, according to Thomson Reuters I/B/E/S.
 
Net income attributable to shareholders rose to $821 million, or 44 cents per share, from $675 million, or 34 cents per share.
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Russia & China reveal their alternative to Airbus & Boeing www.rt.com

A mock-up of a wide-body passenger aircraft jointly being developed by Moscow and Beijing has been presented at Airshow China. The new plane is expected to challenge the Airbus-Boeing duopoly.
 
Manufacturers Russia’s United Aircraft Corporation and Commercial Aircraft Corporation of China (COMAC) have announced the start of the search for suppliers. They didn’t provide any details on financing or technical specification.
 
"We will choose suppliers who have rich experience in development, whose products are competitive globally, and who can continually guarantee quality from the development stage until the planes go into operation," Guo Bozhi, general manager of COMAC's wide-body department told Reuters.
 
US firms Honeywell and United Technologies Corporation have reportedly discussed the jet with COMAC officials at the air show.
 
The Russia-China joint venture will start this year, according to Guo. The firms plan a maiden flight in 2022 and deliveries to begin in 2025 or later.
 
"A wide-body jet is an extremely complicated product, which will require a lot of skills (to develop) and require broad industrial knowledge," Guo told reporters. "China and Russia each have their own advantages."
 
The memorandum on the creation of a new airliner was signed in 2014 during President Vladimir Putin’s visit to China. It is part of a $13 billion aviation cooperation deal.
 
The basic version of the aircraft will have 250-280 seats and a range of 12,000 kilometers.
 
The plane will be developed in Russia and assembled in China. It will be based on the Russian-designed IL-96, and will have two engines instead of four.
 
Russian Deputy Prime Minister Dmitry Rogozin said in June the construction of a heavy-lift aircraft engine for the plane has already started.
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Alibaba generates more revenue than Amazon and eBay combined www.rt.com

Chinese e-commerce giant Alibaba has blown away earnings expectations in the quarter ending September 30. Revenues increased 55 percent to 34.29 billion yuan ($5 billion), more than Amazon and eBay combined.
 
“We reported robust revenue growth of 55 percent this quarter, with strong growth in each of our four reporting segments,” said Maggie Wu, Chief Financial Officer of Alibaba Group.
 
“Our highly profitable and cash flow generative core commerce business enables us to invest in our future growth areas of cloud computing, digital media and entertainment and innovation initiatives. We expect each of these businesses to drive long-term value for both our customers and shareholders,” she said.
 
Alibaba’s revenue of 34.29 billion yuan (about $5 billion) in the three months through September beat the average estimate of 33.9 billion yuan from 24 analysts polled by Thomson Reuters.
 
Revenue from the company's core e-commerce business grew 41 percent over the year before to 28.49 billion yuan ($4.2 billion), driven by sales in China.
 
Net income slid to 7.1 billion yuan ($1.05 billion) from 22.7 billion yuan ($3.35 billion). Alibaba pegged the fall on a large one-time item.
 
"Beyond the strong performance of our core commerce business, we are pleased with the continued rapid growth of our cloud computing business," said Daniel Zhang, CEO of Alibaba Group.
 
Alibaba’s media and digital entertainment business, which was consolidated under a new entity on Monday, saw revenues rise 302 percent year on year, mostly due to the consolidation of Youku Tudou, the local alternative to YouTube, which is blocked in China.
 
The company’s report comes just days before China’s Singles’ Day on November 11, the world's biggest online shopping event, which is 10 times bigger than US Cyber Monday. Last year, Alibaba earned a world record breaking 91.2 billion yuan ($14.32 billion) during the day.
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