1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      ОЛОН УЛСЫН ИННОВАЦИЙН ИНДЕКСЭЭР МОНГОЛ УЛС 53-Т ЖАГСЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/17     ШАДАР САЙД НҮБ-ЫН ӨНДӨР ТҮВШНИЙ УУЛЗАЛТАД ОРОЛЦОЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     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    

Events

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

NEWS

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Singapore Post opens new e-commerce logistics hub www.asia.nikkei.com

SINGAPORE -- Singapore Post opened a new logistics center dedicated to e-commerce in the east of Singapore on Tuesday. The center, costing 182 million Singapore dollars ($130 million), will serve as a hub for sorting and shipping out merchandise ordered online to Southeast Asia and beyond.
 
The logistics hub of about 51,300 square meters will employ automation that will sort up to 100,000 parcels a day for delivery to worldwide destinations. The time required for picking, packing and sending the parcels to loading docks is 5-10 minutes, according to the company.
 
In an opening ceremony on Tuesday, SingPost Chairman Simon Israel revealed plans to upgrade the facility with more advanced technology. "We have designed this facility to be able to meet the future demands ... through adoption of automation and soon, the use of robots," Israel said, adding that a postman in the future may be "a programmer of driverless vehicles, a controller of robots ... or a flier of drones."
 
The opening of the new facility comes not long after the completion of a S$86.2 million investment by Chinese e-commerce giant Alibaba Group Holding into Quantium Solutions International, a logistics joint venture between Alibaba and SingPost. Alibaba's additional investment of S$187.1 million to parent company SingPost has also been approved by Singapore's regulatory body, said the postal company last Thursday.
 
The two deals were announced in July 2015, but since then, SingPost had suffered a series of corporate governance scandals, including the sudden departure of its former CEO and disclosure shortfalls for past acquisition transactions. The delay in Alibaba's investments had kept the investors on edge until the announcement last week, after which SingPost's share price jumped. The counter closed at S$1.62 on Tuesday, 6.6% higher than the closing price last Thursday.
 
Maybank Kim Eng analyst John Cheong maintained a "buy" rating on SingPost in a recent report, noting that the green light on Alibaba deals "should remove the overhang on the stock and potentially enable SingPost to capture more e-commerce logistics businesses from Alibaba."
 
Using the new facility and the partnership with Alibaba, SingPost hopes to attract more brands and online retailers onto its logistics platform. The company has been upping its international portfolio of e-commerce backend services, including the acquisition of two companies in the U.S. announced late 2015.
 
The new hub will be used for domestic e-commerce deliveries as well, including deliveries to SingPost's POPStation, self-service lockers for deliveries. The successful expansion of POPStation has prompted the government to set up a similar system. Speaking at the opening ceremony, Deputy Prime Minister Thaman Shanmugaratnam announced the government would roll out a nation-wide locker system next year at public housing estates, where around 80% of Singaporean residents live.
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Monetary base renews record high www3.nhk.or.jp

Japan's monetary base renewed a record high for the 11th consecutive month. It remained above the 400-trillion-yen mark in October, due to continued monetary easing by the central bank.
 
The monetary base is the total amount of cash in circulation plus commercial-bank deposits held at the Bank of Japan.
 
BOJ officials say the monetary base at the end of October stood at nearly 418 trillion yen, or about 4 trillion dollars at the current rate.
 
The figure was up about 4.8 trillion yen from a month earlier.
 
In an effort to achieve a 2-percent inflation target, the BOJ has been pouring massive amounts of funds into financial institutions by purchasing government bonds and other assets.
 
But BOJ policymakers on Tuesday pushed back the forecast date for achieving the inflation target, saying it will likely be reached "around fiscal 2018."
 
Analysts say this is a sign that the massive supply of funds into financial institutions is not helping lift prices.
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MBD Business offers #11 www.mongolianbusinessdatabase.com

Please review the following MBD business offers package number 11 and feel free to visit www.mongolianbusinessdatabase.com for more information on each offer and contact us.
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Work Wear, Personal Protective Equipment(Malaysia)
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HPMC/PVA/Methacrylate based coatings(India)
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Asphalt mixing plants(China)
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Building materials(Turkey)
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Batching and mixing plants(Czech Republic)
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All kind of plastic materials (PR China)
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Construction material (Turkey)
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Global brand cosmetics (PR Korea)
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Restaurant kitchen equipment (PR China)
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Suncor Energy sells Petro-Canada Lubricants business for $1.125 billion www.mining.com

Suncor Energy has reached an agreement to sell its Petro-Canada Lubricants Inc. (PCLI) business to a subsidiary of HollyFrontier Corporation (HollyFrontier) for gross proceeds of $1.125 billion, subject to customary closing adjustments.
 
The sale includes PCLI's production and manufacturing centre in Mississauga, Ontario and the global marketing and distribution assets held by PCLI including its global offices. Under the terms of the agreement, HollyFrontier will continue to operate the lubricants business under the Petro-Canada trademark.
 
"Today's announcement is another example of how Suncor is focusing on its core assets through strategic acquisitions and divestitures that reinforce our commitment to long-term profitable growth," said Steve Williams, president and chief executive officer. "Petro-Canada Lubricants is a valuable, high-performing business that has been recognized by customers around the globe for its innovative products. When we announced we were considering divesting of the Lubricants business, we had significant interest and as such we were able to transact with a company that fully recognizes the value of the business."
 
The transaction is subject to customary closing conditions, including satisfaction of all regulatory requirements in Canada and the U.S., and is expected to close in the first quarter of 2017.
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Nissan deal 'won't persuade others to invest' www.bbc.com

One of Japan's top business strategists says investment in the UK will be smaller following the Brexit vote - and he is advising companies to hold fire.
In an interview with BBC Newsnight, Kenichi Ohmae called the recent deal at Nissan's plant in Sunderland a "minor decision" involving one company.
"I don't think other companies will follow suit," he added.
Mr Ohmae advised Nissan to set up its main European plant in the UK in the early 1980s.
Last week, Nissan confirmed it will build both the new Qashqai and the X-Trail SUV at its Sunderland plant following government "support and assurances".
Prime Minister Theresa May described the announcement as "fantastic news", adding: "This vote of confidence shows Britain is open for business."
Nissan's decision is the first major development for the car industry since the Brexit vote and secures 7,000 jobs.
But Mr Ohmae questioned whether exports will continue from Sunderland in the same manner as before the EU referendum vote. "That's just a statement by the UK government. We will have to wait and see.
"It is true that Nissan have said they will continue producing the two types of models after Brexit, [but] that's a very, very minor one company decision. I don't think other companies will follow suit."
He said he believes Nissan is "a very special case".
In terms of his advice to companies, Mr Ohmae said: "We don't have enough information to make a prudent judgement. Therefore with the final picture of the UK uncertain, I will advise them to hold until the course is clear and until the conditions of Brexit are worked out - not only by what the UK government says, but what the European Union says."
"Until that final shape of the UK is clear, we will have to hold the investment decisions," he added.
Mr Ohmae said people in Japan were shocked by the UK's vote to leave the referendum. "We don't understand why British people voted for Brexit... [it was] completely a surprise to us - and probably to many in the United Kingdom."
He said he has concerns around the movement of people after the UK leaves the EU - particularly those with expertise and skills - and that those who voted to leave on the grounds that migrants are taking jobs are mistaken.
"The people's sentiment that immigrants have taken our jobs away - we just don't see that in the statistics and on the day employment scene."
"It's a shame that the parliament - which has decision-making ability - did not go back to the referendum. The parliament accepted the referendum which it didn't have to, according to our understanding of the legal constraints."
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Shell and BP beat forecasts as energy giants cut spending www.theguardian.com

The UK’s two oil “supermajors”, BP and Royal Dutch Shell, have outlined plans for a more frugal future to withstand stubbornly low oil prices as they beat profit expectations in the third quarter.
 
While both firms outperformed forecasts, Shell won greater plaudits from investors thanks to rapid progress on cutting costs and a hefty production boost from its £43bn takeover of gas specialist BG.
 
Shell’s underlying net profit for the three months to the end of September rose 18% to $2.8bn, beating analyst forecasts of $1.7bn.
 
Britain’s biggest company said its performance had improved after a disappointing second quarter as it cut costs following its takeover of BG Group in January.
 
Chief financial officer Simon Henry said the BG deal had “turbocharged” the company, helping increase production by 25% to 3.6m barrels per day (bpd) from 2.9m this time last year.
 
But the cost of the takeover, coupled with low oil prices, has seen the company’s debt balloon from $26.6bn last year to nearly $79bn, adding to pressure to reduce spending and sell assets.
 
Shell expects its capital investment to fall $25bn next year – at the lowest end of its $25bn to $30bn guidance range.
 
Henry pointed out that Shell is already being thrifty, with this year’s $29bn in capital investment some $18bn less than Shell and BG were spending as separate companies in 2014.
 
Oil companies around the world have cut spending severely to cope with a plunge in the oil price that has weighed on the industry for more than two years and that both companies said is unlikely to reverse this year.
 
Henry warned that continued retrenchment could include further job losses in the North Sea, where Shell has already cut 1,000 staff since 2014.
 
“I cannot rule out further changes in the number of jobs,” he said, adding that Shell was ready to sell North Sea assets but hadn’t received attractive offers.
 
The firm is in the process of selling 16 assets as part of a $30bn sale programme as it looks to bolster its balance sheet following the BG deal.
 
Shell’s chief executive, Ben van Beurden, stressed the need for caution despite the better-than-expected results, saying: “Lower oil prices continue to be a significant challenge across the business, and the outlook remains uncertain.”
 
Shell’s cost cuts and progress in integrating BG won approval from the markets, sending its shares up nearly 4% to £21.15.
 
But while BP beat expectations, investors were less impressed than they were with Shell and its stock fell 4.5% to £4.62.
 
Investors in both companies stand to receive a £2.5bn boost to their dividends from sterling’s weakness this year, according to Capita Dividend Monitor, which expects their combined payouts to be £18.6bn.
 
At BP, net profit almost halved to $933m in the third quarter from $1.8bn a year earlier, although the result was better than the average analyst forecast of $780m, according to Reuters.
 
The company blamed lower oil prices as well as higher costs for writing off exploration projects and cancelling rigs. BP scrapped plans to drill in Australia’s Great Australian Bight last month after commissioning a high-spec oil rig in Singapore.
 
Like Shell, BP is battening down the hatches for continued low oil prices, with capital spending due to be $16bn this year, $1bn less than predicted in April.
 
The company has largely worked through the costs of its Gulf of Mexico oil spill but added $189m to its overall bill, which has now reached $61.8bn since the incident in April 2010.
 
Both companies’ shares have been under pressure as the oil price hovers at about $50 a barrel and rising doubts about Opec’s ability to organise a promised production cut.
 
But Shell’s finance chief Simon Henry said the efforts to slash costs will put it in “very strong cash generating territory” if prices rise again.
 
He said every $10 rise in the price of Brent crude was worth $5bn to Shell and would be worth $6bn within years, signalling huge rewards if oil prices eventually reach $100 again. “That’s another $30bn in the bank each year,” he said.
 
Energy industry commentators have pointed to the falling cost of renewables versus fossil fuels and Shell’s head of new energies and integrate gas, Maarten Wetselaar, said solar and wind were already undercutting gas in some areas.
 
He said solar panels were “equivalent or cheaper than fully costed gas” in areas near the equator when stripping out the cost of period with limited sunshine.
 
He said the same was true of wind power in the North Sea, although he stressed that gas still has an advantage when windless days are factored in.
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Russia signs China helicopter deal www.rt.com

 
Russian Helicopters has announced plans to sell 18 new helicopters to China, including Mi-171s, Ka-32s and Ansat.
 
“Chinese Wuhan Rand Aviation Technology Service has ordered two light Ansat medevac helicopters, two Mi-171s and one Ka-32 with an option for another 13 aircraft,” Russian Helicopters said on Tuesday after signing a contract with the Chinese buyer at the Airshow China 2016.
 
The first helicopters will be delivered next year and the rest by the end of 2018.
 
“At the moment there are more than 300 Russian helicopters of various types in China. We hope to attract interest from Chinese airlines with this first contract for Ansat helicopters," said Alexander Mikheev, the CEO of Russian Helicopters.
 
The multi-purpose Ansat light helicopter can be used for a wide range of roles, transporting cargo and passengers, for surveillance, search and rescue operations, fire-fighting, and medevac missions.
 
Kamov Ka-32 helicopters have been used in China for some time to fight fires and rescue operations. They are considered one of the best to deal with complex fire, particularly in the Chinese highlands and modern cities.
 
China has flown Mi-171 helicopters for disaster relief work, as well as transporting cargoes including medical supplies, and construction materials.
 
According to Mikheev, Moscow and Beijing are planning to sign a contract to design a heavy-lift helicopter within the next couple of months. They have a basic agreement and are currently working out the timescale and costs, he said.
 
The new helicopter is designed to lift 15 tons, with a range of 630 kilometers flying at 300 kilometers per hour.
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BOJ pushes back 2% inflation target date www3.nhk.or.jp

Japan's central bank has decided to maintain its monetary easing measures, including the negative interest rate policy.
 
But policymakers at a 2-day meeting that ended on Tuesday revised the timeframe for hitting the bank's inflation target. They pushed it back by about one year.
 
The Bank of Japan released its quarterly outlook report on the economy. Updated projections for meeting the 2 percent inflation goal say it will be sometime around the fiscal year beginning April 2018.
 
The previous forecast was for during fiscal 2017.
 
It is understood the bank thought it difficult to reach the target during Governor Haruhiko Kuroda's current term, which ends in April 2018.
 
Policymakers also trimmed their inflation forecast for fiscal 2016 to a negative. They think it will be minus 0.1 percent, 0.2 percentage point lower than their previous estimate.
 
For fiscal 2017, they're seeing 1.5 percent inflation, 0.2 point lower than before. The changes are due to lower crude oil prices, sluggish personal consumption, and a higher yen.
 
The BOJ first set the 2 percent inflation target in April 2013, when they committed to achieving it in about 2 years. Policymakers have cut their outlook for hitting the goal 5 times since then.
 
BOJ Governor Haruhiko Kuroda spoke to reporters after the meeting.
 
He said that there is no special relation between his term as BOJ Governor and the inflation forecast.
 
He also said that the BOJ will make an appropriate decision and implement it to realize a 2 percent inflation target as soon as possible.
 
Kuroda said the momentum toward achieving the price stability target is somewhat weaker than before and that he wants to keep a careful eye on developments in prices.
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Renewables beat coal as largest source of power capacity www.mining.com

While coal continues to crank out electricity for millions of people in developing nations, renewable energy is rapidly catching up and last year, overtook coal as the world's largest source of installed power capacity.
 
About half a million solar panels were installed every day last year and two wind turbines went up ever hour in 2015 – which may be seen as a turning point for renewables, led by solar power and wind. The astonishing figures come via the International Energy Agency (IEA), which in a recent report, raised its renewable growth forecast.
 
In 2015 over half of new power capacity came from renewable energy – reaching 153 gigawatts, or 15% more than last year. The amount of solar and wind added in 2015 were both record-setting; PV additions reached 49 GW and wind achieved 66 GW.
 
"‌There are many factors behind this remarkable achievement: more competition, enhanced policy support in key markets, and technology improvements. While climate change mitigation is a powerful driver for renewables, it is not the only one. In many countries, cutting deadly air pollution and diversifying energy supplies to improve energy security play an equally strong role in growing low-carbon energy sources, especially in emerging Asia," states the latest edition of the IEA’s Medium-Term Renewable Market Report.
 
The 153 GW of installed green energy was more than the total power capacity of Canada and greater than the amount of conventional fossil fuel or nuclear power added in 2015. While renewables surpassed coal in their cumulative share of power capacity, they have not yet knocked fossil fuels from the top of the heap when it comes to electricity generation. That's because renewables, due to their intermittency, cannot produce power at the same constant level as coal or nuclear.
 
According to the IEA in 2015 coal power plants produced close to 39% of the world's power while renewables, including hydroelectric dams, accounted for 23%. However the IEA expects that number to climb to 28% by 2021, when renewables will supply the equivalent of all the power produced currently in the US and the EU combined.
 
The IEA now sees renewables growing 13% more between 2015 and 2021 than it did in last year’s forecast, due mostly to "stronger policy backing in the United States, China, India and Mexico." The costs of installing solar and wind have dropped, and expected to drop considerably – 25% less for PV solar and a decrease of 15% for onshore wind, for the forecasted period, according to the agency.
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MRJ delivery may be late again www3.nhk.or.jp

The first delivery of the Japanese-made Mitsubishi Regional Jet, or MRJ, may be delayed again because technical changes are necessary.
 
The aircraft, currently undergoing flight tests in the United States, is being developed by Mitsubishi Aircraft. It has already announced delays 4 times.
 
The president of the parent company Mitsubishi Heavy Industries, Shunichi Miyanaga, cited a possible 5th delivery delay at a news conference.
 
He said various changes became necessary in order to acquire approval from aviation authorities.
 
Miyanaga said he wants to keep the schedule to make the first delivery by mid-2018 but he has the responsibility to explain the current situation to clients.
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