1 FOREIGN RELATIONS OF MONGOLIA’S ROAD TRANSPORT SECTOR BROADENING WWW.MONTSAME.MN PUBLISHED:2019/02/21      2 MONGOLIA EXPRESSES READINESS TO CONTRIBUTE TO STRENGTHENING ASIA-EUROPE COOPERATION WWW.MONTSAME.MN PUBLISHED:2019/02/21      3 OYU TOLGOI FUNDED 35.1 KM ROAD OPENS IN KHANBOGD WWW.GOGO.MN PUBLISHED:2019/02/21      4 POLYMER BITUMEN TO BE DOMESTICALLY PRODUCED WWW.MONTSAME.MN PUBLISHED:2019/02/21      5 KHURELBAATAR CHIMED: 319 ENTITIES DREW LOANS FROM TWO FUNDS WWW.ZGM.MN PUBLISHED:2019/02/21      6 CONSTRUCTION OF TAVANTOLGOI-GASHUUNSUKHAIT ROAD TO BE INTENSIFIED WWW.MONTSAME.MN PUBLISHED:2019/02/20      7 OVER 30 MEASURES PLANNED FOR REDUCTION OF ENVIRONMENTAL POLLUTION WWW.MONTSAME.MN PUBLISHED:2019/02/20      8 MONGOLIA SAYS IT EARNS OVER 169 MLN USD FROM COAL EXPORTS TO CHINA IN JAN WWW.HELLENICSHIPPINGNEWS.COM  PUBLISHED:2019/02/20      9 RUSSIA’S GAZPROM TO START CHINA GAS PIPELINE BY DECEMBER 1 WWW.RT.COM PUBLISHED:2019/02/20      10 MONGOLIA'S FOREIGN TRADE UP 41.6 PCT IN JAN. WWW.XINHUANET.COM PUBLISHED:2019/02/20      УГСАРМАЛ ОРОН СУУЦНЫ ДУЛААЛГАД ЗОРИУЛЖ 12.7 ТЭРБУМ ТӨГРӨГИЙГ УЛСЫН ТӨСВӨӨС ГАРГАХААР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/21     2018ОНД ЦАГААН БУДАА , ЭЛСЭН ЧИХЭР , ТАХИАНЫ МАХНЫ ИМПОРТ 24-32 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ДЦС IV: 2018 ОНД НИЙТ АШИГ 4.7 ДАХИН ӨСӨЖ , 4.48 ТЭРБУМ ТӨГРӨГ БОЛСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ТУСГАЙ САНГУУДААС ГАРГАСАН ЗЭЭЛИЙН 100 ОРЧИМ ТЭРБУМ ТӨГРӨГ ХУГАЦАА ХЭТЭРСЭН ӨР БОЛЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     МОНГОЛ УЛСЫН БОРЛУУЛАЛТЫН МЕНЕЖЕРҮҮДИЙН ИНДЕКС СҮҮЛИЙН 12 САРД АНХ УДАА УНАЛТЫН БҮСЭД ШИЛЖИВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     2018 ОНД ХАМГИЙН ЧИНЭЭЛЭГ БҮЛГИЙН ХЭРЭГЛЭЭ ЯДУУ БҮЛГИЙНХНЭЭС 5.1 ДАХИН ИХ БАЙВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     ХОВД ГОЛД ОСОЛДСОН 6 НАСТАЙ ХҮҮХДИЙН ЭРЛИЙГ ЗОГСООЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/21     ДБНХ-НООС П.ОРХОНЫ БАРИЛДАХ ЭРХИЙГ 4 ЖИЛЭЭР ХАСАВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/21     УУХҮЯ: II САРЫН БАЙДЛААР НИЙТ НУТАГ ДЭВСГЭРИЙН 5.6 ХУВЬД АШИГТ МАЛТМАЛЫН ЛИЦЕНЗ ОЛГОСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/20     300 ОРТОЙ ТӨРӨХ ЭМНЭЛГИЙН БАРИЛГЫН АЖИЛ 80%-Д ХҮРЧ ГУРАВДУГААР САРЫН 1-НЭЭС ДУЛААНД ХОЛБОГДОХООР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/20    

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

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Snap perks up after initial rush of short sellers www.reuters.com

 
Shares of Snap Inc (SNAP.N) bounced back on Wednesday following a steep selloff while an initial rush to short sell the stock appeared to be slowing.
 
The owner of the Snapchat messaging app had fallen sharply in the previous two sessions as investors focused on its lofty valuation following a $3.4 billion public listing last week that was the hottest technology offering in three years.
 
Shares of Snap, which has warned it may never be profitable, closed up 6.4 percent at $22.81.
 
Traders betting against Snap on Wednesday added less than $50 million in new short sales of its stock, a slower pace than the day before, when initial short bets jumped to $300 million, according to S3 Partners, a financial analytics firm.
 
Short sellers borrow and then sell stocks they think will fall in value, hoping to profit by buying the stock back more cheaply later on and then returning it to its owner.
 
Reflecting a higher supply of Snap's shares and potentially less demand, the annual interest rates brokers charged to lend the shares declined to around 15 percent from as much as 40 percent on Tuesday, said S3 Partners Managing Director of Research Ihor Dusaniwsky.
 
By comparison short sellers paid 19 percent to borrow Twitter's (TWTR.N) stock after its 2013 listing, according to IHS Markit.
 
Traders looking for a piece of the action in Snap will get another way to bet when its options start trading on Friday.
 
Snap has been a roller-coaster ride for investors, surging 59 percent in its first two days of trading, and falling 15 percent since then.
 
Billionaire investor David Tepper, whose views on stocks are closely watched by other money managers, told CNBC on Wednesday he bought shares of Snap in the IPO, sold some, and would buy again if the price dropped.
 
FTSE Russell will consult with big investors on whether to include companies like Snap in its widely followed stock indexes even if their shares lack voting rights, an FTSE Russell executive said.
 
Snap would benefit if it were added to major stock indexes because index portfolios managers would have to buy its shares, and other investors whose performance is tracked against such benchmarks would likely follow suit.
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Private sector leaders call for long-term and stable law and policy www.montsame.mn

Ulaanbaatar /MONTSAME/ The American Chamber of Commerce (AmCham) in Mongolia hosted its March monthly Meeting with some of the most prominent business leaders in Mongolia on March 7 to discuss “Perspectives of Business Leaders on the Economic Situation of Mongolia and Forecasts for 2017”.

The panelists included President of MSC Group J.Od, Chairperson of Petrovis LLC and President of Ulaanbaatar Chamber of Commerce J. Oyungerel, Executive Director of Wagner Asia Group Steve Potter, and Resident Representative for Mongolia at International Finance Cooperation (IFC) Tuyen Nguyen.

The meeting brought together over 100 participants, including AmCham members and representatives from Mongolia’s leading businesses. Attendees heard from the panelists on Mongolia’s outlook in a broad range of business categories, including mining, agriculture, new projects, and finance. The panelists also spoke about the need for economic diversification and stability in policy and law as well as the IMF’s extended fund facility program and its implications for the private sector.

J.Od, President of MCS Group, opened the discussion and said, “2017 presents a real opportunity for Mongolia to develop a real economy and to create jobs based on economic diversification, good policy decisions, regional integration and an open investment environment.”

J.Oyungerel, Chairperson of Petrovis Group, noted, “Mongolia needs to promote and increase its export products, such as agriculture industry products, to further develop our economy while having a stable policy and legal environment designed to support the private sector as the key engine of economic growth. Also, Mongolia needs investors who can supply the best expertise and advanced technology for local businesses to grow.”

Mr. Steve Potter, Executive Director of Wagner Asia Group, gave a comparative analysis of Mongolia with other jurisdictions and said, “The chances of success will greatly increase if we develop long-term and sustainable policies that encourage both domestic and international investment and private sector growth.”

Tuyen Nguyen, Resident Representative for Mongolia at the IFC, commented in detail on the IMF’s extended fund facility program and its impacts on the private sector and said, “Fiscal discipline of the government with the IMF deal will certainly help in unleashing the potential growth of the private sector and in rebuilding investor confidence.”

“AmCham Mongolia has been and will keep working with both the public and private sectors to promote strong private sector growth, an enabling business environment, increased investment, and a stable policy and legal environment in Mongolia.” Jay Liotta, Chairman of AmCham Mongolia, said during his closing remarks.

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China charms Berlin tourism dealers with Silk Road destinations www.chinadaily.com

BERLIN - Chinese travel agencies on Wednesday charmed tourism dealers at a key travel trade show in Berlin, featuring the Silk Road destinations.

Chinese provincial tourism administrations from Shanghai, Hunan, Inner Mongolia and Shandong, as well as Chinese airliners participated in the Internationale Tourismus Boerse (ITB), which will last from March 8 to March 12 with an expected 180,000 attendees.

Destinations in West China's regions of Shaanxi and Xinjiang are drawing extra attention, as tourists can enjoy the convenience in the modern cities while traversing moments in history.

Although modern big cities like Beijing, Shanghai and Guangzhou, still stay on top of the holiday destinations, the Silk Road spots like Lanzhou, Dunhuang, Xi'an have become increasingly heated in recent years, said Shi Xiang, Frankfurt-based regional director of China National Tourism Administration (CNTA).

Some selected travel routes are along the historical Silk Road, an ancient network of trade routes connecting East and West, offering a similar experience as "the early explorers".

People can ride horses, camels and accommodate in gers just like the local herdsmen.

Viktoria Arneson, a 28-year-old travel expert, said the cities on promotion might well suit the taste of western travelers, since lots of them are "adventurous".

"For me, I like grand landscapes, for example sea, steppe, desert. The Silk Road route have those landscapes and seems to be exotic," Arneson said.

For many German exhibitors and dealers, taking a trip along the ancient trade route is even more luring, since the term Silk Road itself is coined by German geographer Ferdinand von Richthofen, who made seven expeditions to China from 1,868 to 1,872.

According to a preliminary report by CNTA, foreign travelers made more than 28 million visits into China in 2016, with a year-on-year growth of 8.3 percent.

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Trump may stop spouses of H-1B visa holders from working www.cnn.com

Trump may stop spouses of H-1B visa holders from working

cnn.com 2017 03 09

It's not an easy time to be an immigrant working on an H-1B visa in the U.S. It could be about to get a lot worse.
The visa program used by several industries to bring skilled foreign workers -- many of them Indian citizens -- to the U.S. is facing potential curbs under President Trump. Their partners and children could be next in the line of fire.
Since 2015, spouses of H-1B visa holders waiting for green cards have been eligible to work in the U.S. on H-4 dependent visas, thanks to a rule introduced by President Obama.

But a group called Save Jobs USA is challenging that rule in court, and the Trump administration has asked for 60 days to think about it.
The U.S. Department of Justice filed a petition last month asking to be given until April 2 "to allow incoming leadership personnel adequate time to consider the issues."
Related: Indian tech graduates fear the US may shut them out
Immigrant support groups worry the delay means Trump will eventually overturn Obama's ruling.
"The recent statements from the government present an unacceptable risk... that [the] DOJ might decide after 60 days to adopt the position of Save Jobs USA," said Aman Kapoor, the co-founder of the Immigration Voice advocacy group.
In a statement, Kapoor pointed out that Attorney General Jeff Sessions has previously said the H-4 ruling "hurts American workers."
Immigration Voice filed a motion this week to intervene in the case on behalf of thousands of its members currently working in the U.S. on H-4 visas.

"Immigration Voice decided that intervention in the Save Jobs lawsuit was the only option to protect the rights of our members and their families, including children who are U.S. citizens," the organization said.
In its petition, it cites two examples of members who stand to lose out if the legal challenge is successful: Sudarshana Sengupta, who plans to launch a startup for developing cancer strategies, and Anujkumar Dhamija, who recently invested about $55,000 to start a business remodeling luxury homes.

Both say their companies will create jobs for Americans, but not if Trump decides to stop them from working. Sengupta has a nine-year-old son while Dhamija has a two-year-old daughter. Both children are U.S. citizens.
"If this program ceases to exist, I will lose all my investment in the new business," Dhamija said in the statement released by Immigration Voice. "I will face significant financial hardships and won't be able to provide for my growing family."
In India, which accounts for 70% of all H-1B workers, there are signs that the uncertainty may be scaring away prospective spouses.
Shaadi.com, one of the country's most popular matchmaking websites, told CNNMoney on Wednesday that the number of women seeking eligible bachelors in the U.S. fell by about 15% between November and February.
"That may be due to the political developments in the U.S.," a representative said.
-- Rob McLean and Sara O'Brien contributed to this report

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Cool Japan Fund to support textile industry www.nhk.or.jp

The Cool Japan Fund will set up a joint venture with a Japanese apparel maker to promote the products overseas.

The fund was created to promote Japanese cultural products abroad. Officials at the fund say they will invest 7.2 million dollars in the new joint venture, to be established by April.

The fund is joining forces with a Tokyo-based apparel maker that operates a fashion brand called 45R.

The company works with regional textile firms to make and sell blouses and jeans, using techniques like indigo dyeing.

Former US ambassador to Japan Caroline Kennedy is one of their customers. The company has 16 outlets in the US, France and other countries.

With the investment from the fund, company executives plan to open 7 more stores over the next 3 years in Europe and the US.

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Exchange of a foreign driving licence for a Mongolian licence (for your information) www.gogo.mn

 All foreigners will need to get an International Driver’s Permit or a Mongolian driver’s license before driving in Mongolia. Please note that you must take a written exam before you can obtain a Mongolian driver’s license. The written exam is provided only in Mongolia; therefore one must provide their own translator.
Also, if your drivier's licence is registered other foreign countries that are member to Vienna Conventions on Road Traffic, then you can apply to exchange it for a Mongolian driver's license. 
You must submit your driving licence permit application to a License Center of General Police Department of Mongolia in person. Remember to bring:
Foreign passport or temporary residence card and its notarized copy 
A foreign driving licence accompanied by an official translation into Mongolian and its notarised copy
Driver`s white page (you can take it from the service hall)
Health examination paper
3x4 sized one photograph 
Payment receipt for MNT 12,500 /Bank account: 900012408, Central State Fund Bank, Receiver organization: Police Office/
For more info on issues related to the driving license, please contact at +976-70006996.

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Surging China iron ore imports can't stem price decline www.mining.com

 
The Northern China import price of 62% Fe content ore fell sharply for a second day in a row on Wednesday, giving up 2.6% to trade at $85.3 per dry metric tonne, the lowest in a month according to data supplied by The Steel Index.
 
After a 85% rise in 2016, the price of iron ore is up another 7% in this year and has more than doubled in value since hitting near-decade lows at the end of 2015.
 
While worries about supply and rising stockpiles have plagued the market, imports by China continued to strengthen in 2017 after hitting an all-time high last year.
 
Trade figures released on Wednesday showed China imported 83.5 million tonnes of ore in February, up 13% compared to last year.
 
Total imports for January-February climbed 12.6% to 175.3 million. Iron ore is averaging $84.90 a tonne in 2017, compared to less than $45 during the first two months last year.
 
The all-time record for monthly Chinese imports in terms of volume was in December 2015 with shipments totalling 96.3 million tonnes. But the price of iron ore fell to below $40 a tonne pushing the value of shipments below $5 billion.
 
The all-time record in terms of dollar value was set in January 2014, when the country imported $11.3 billion worth of iron ore back when prices were firmly in triple digit territory.
 
Forging more than half the world's steel, Chinese imports of iron ore for the full year 2016 topped one billion tonnes for the first time.
 
The 1.024 billion tonnes constitute a 7.5% increase over the annual total in 2015 and is indicative to what extent exporters from Brazil and Australia has been able to displace high-cost domestic producers.
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RBS awards nearly £16m of bonuses in shares to nine top executives www.theguardian.com

 
Loss-making Royal Bank of Scotland has awarded bonuses in shares to its top management team worth almost £16m.
 
The bank revealed the bonus awards to nine executives an hour after Philip Hammond delivered his budget and said he was “uncertain” as to when the Treasury would be able to sell off any of its 73% stake in the bailed-out bank.
 
The announcement by the Edinburgh-based bank also included details of £6m in bonuses that have been paid out after being awarded in previous years.
 
Last month, when RBS reported losses of £8bn for 2016, the bank’s chairman, Sir Howard Davies, had attempted to justify the need to pay bonuses by saying staff should not be penalised for the “sins of the past”.
 
A year ago, the management team were awarded bonuses worth £17.4m.
 
Since RBS’s £45bn taxpayer bailout during the financial crisis, it has reported nine consecutive years of losses amounting to more than £58bn.
 
The bonuses being awarded will not pay out before 2020. They shed light on the payouts to executives outside the boardroom, such as Chris Marks, the head of the investment banking operation, NatWest Markets, who was awarded shares of more than £2m.
 
Other awards include £1.8m to Alison Rose, who runs the commercial bank, and £1.2m for Les Matheson, the head of the high street banking business.
 
The pay of Ross McEwan, the RBS chief executive, was disclosed last month at more than £3m for 2016. He was also awarded nearly £3m in shares that he will start to receive from 2021, provided performance criteria are reached.
 
Hammond has said he will not be able to sell any RBS shares while the bank awaits a penalty from the US Department of Justice for mis-selling toxic bonds in the run-up to the financial crisis and fights with Brussels over the sale of 300 branches mandated at the time of its bailout.
 
In the documents published alongside the budget, the goverment said it “would continue to seek opportunities for disposals, but the need to resolve legacy issues makes it uncertain as to when these will occur”.
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Trump trademarks approved by China www.bbc.com

 
China has given US President Donald Trump the chance to expand his brand, after approving dozens of applications to register the Trump trademark.
Many of the requests, for industries from hotels to security, were made during the US election campaign.
President Trump, who already owns about 70 trademarks in China, has pledged not to strike new foreign business deals while in office.
Critics have warned the approvals could breach the US Constitution.
The Associated Press reported that 38 trademark requests had been provisionally given the go ahead.
The approvals still need to be rubber-stamped. If no one objects to them, they will be formally registered in 90 days.
In China it is not uncommon for celebrities or businesses to trademark their name, even if they have no immediate intention of using it, to protect it being used by others.
Conflict risk
Shortly before his inauguration, Mr Trump signed over his business interests to his sons - though critics said this did not go far enough.
When news of the trademark applications emerged earlier this year, experts from across the US political spectrum said granting them could be considered an "emolument" - the term for a fee, salary or profit provided by a foreign government.
Donald Trump has business interests around the world, including this Trump-branded (but not owned) project in Mumbai.
These are outlawed by the Constitution.
Barack Obama's former ethics lawyer Norman Eisen said there was a risk of a conflict of interest.
"The concern of the constitution is that flows of benefit to presidents from foreign sovereigns will distort their judgment, and trademarks are certainly capable of that," he said in January.
Meanwhile Richard Painter, a former chief ethics lawyer to President George W. Bush, said the volume of new approvals raised questions about whether Beijing was being favourable to the US President.
"A routine trademark, patent or copyright from a foreign government is likely not an unconstitutional emolument, but with so many trademarks being granted over such a short time period, the question arises as to whether there is an accommodation in at least some of them," he said.
Recently former US basketball star Michael Jordan won a trademark dispute over the use of his name in China.
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Crude crashes 5% to hover above $50, tests 2016 lows www.rt.com

 
In the single biggest one-day drop since September 2015, WTI today tested $50.30 in afternoon trading following the latest EIA storage report which saw US crude inventory levels reach a record of 528.4 million barrels.
 
In light of reports that OPEC is sticking to its agreed production cut, long positions had filled out in recent weeks off the back of the rally which began back in November 2016 following the announcement of both OPEC and non-OPEC production cut deals.
 
However, this latest fundamental data from the EIA showing a build of 8.24 million barrels has hammered long positions at a time when many were hoping for a breakout above the resistance level at $55, despite persistently building inventories week-on-week.
 
Significant draws on petroleum products and boosted imports on the West Coast of 4.6 million barrels have provided some bullish news for the market to offset stubbornly high shale production in the US, but for now, it appears the resistance level will hold below $55.
 
Given that long positions for April and May WTI contracts now appear to be greatly over-extended, volatility may become the order of the day as traders liquidate their long positions and regroup.
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