1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     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    

Events

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

NEWS

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BMW still strong in Chinese market www.chinadaily.com.cn

BMW Group maintained its No 2 position in the world's largest market with a year-on-year surge in sales approaching 10.6 percent in the first three quarters of this year. It was closely followed by Mercedes-Benz, which achieved a 30 percent rise in sales.
 
The number of BMW and Mini vehicles delivered on the Chinese mainland totaled 49,204 units last month, 19.6 percent more than in the same period last year. The accumulated sales volume in the first three quarters also surged by 10.6 percent, reaching 379,176 units.
 
Sales on the Chinese mainland, BMW Group's largest single market, fueled the group's considerable sales growth.
 
BMW Group's worldwide volume increased in September by a record 10.5 percent after it delivered a total of 237,973 vehicles.
 
The increase helped the company register its best-ever sales figures for a year's first three quarters, with year-to-date sales of 1.75 million units, up 6.2 percent compared with the same period last year.
 
"Our policy of balanced global sales continues to deliver sustainable success and profitability remains our primary focus, " said Ian Robertson, a member of the BMW Group Board of Management with responsibility for Sales and Marketing.
 
"Global demand for our premium models continues to grow in all vehicle classes," Robertson said.
 
The BMW Group unveiled on Oct 11 its Motorrad Vision Next 100 motorcycle, to mark the group's centenary under the motto, "The Next 100 Years".
 
The Motorrad Vision Next 100 aims to deliver an unparalleled riding experience, and its assistance systems anticipate danger and advise riders when action is needed, and intervene to keep them safe in the event of danger. The systems leave riders free to enjoy a pure and uninterrupted riding experience.
 
One of the motorcycle's key features is a self-balancing mechanism, which keeps it balanced, both while it is stationary and in motion.
 
BMW Motorrad's sales continued to grow through September, with a total of 12,215 units sold in the month. Sales in the first nine months of the year increased by 3.2 percent, with a total of 116,044 motorcycles and maxiscooters delivered.
 
Premium market expands
 
Volkswagen's high-end division, Audi, maintained its lead in the Chinese premium car market with an accumulated 440,233 units sold in the first three quarters.
 
The overall expansion rate of the premium car market in China reached roughly 20 percent this year, and its penetration rate touched a historic high in Beijing, Shanghai, Guangzhou and Shenzhen.
 
According to figures from LMC Automotive Consulting, roughly 26 percent of new car sales were comprised of premium models in the four major cities, thanks to the rapid growth of such locally-made entry-level crossovers as the Audi Q3, BMW X1 and Mercedes-Benz GLA.
 
John Zeng, managing director of LMC, told China Daily: "The 26 percent premium car penetration rate in the four cities has overtaken the mature markets in developed countries. Penetration rates are 16 percent on average in Germany, and 14 percent in the United States."
 
He added: "Now the premium market is driven by individual consumption, rather than business purchases, as in the past."
 
However, sales of super cars and sedans plummeted, which affected both the BMW 7 Series and Mercedes-Benz S Class.
 
The year-to-date sales volume of Mercedes-Benz in the Chinese market was only 34,385 units fewer than that of the BMW Group. Mercedes-Benz sold 344,791 units in the Chinese market in the first three quarters of this year, a 30 percent rise on the same period last year.
 
Jia Xinguang, a senior analyst with the China Automobile Dealers Association, said: "Mercedes-Benz's unique strength is in its dealership model, which includes having (leading auto retailer) Lei Shing Hong Ltd as a major seller of its vehicles.
 
"Lei Shing Hong was courageous enough both to invest 1 billion yuan in its training center and to bet everything on Mercedes-Benz."
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BRICS to step up economic cooperation www3.nhk.or.jp

The 5 so-called BRICS economies have agreed to step up cooperation in a bid to forge closer business and trade ties.
 
The top leaders of Brazil, Russia, India, China, and South Africa ended a 2-day summit in the southern Indian city of Goa on Sunday.
 
Indian Prime Minister Narendra Modi said in writing that the leaders discussed what the BRICS nations can do to be the driving force for the world economy.
 
They adopted a joint statement which focuses on stepping up economic cooperation, including boosting infrastructure investment in each other's nations. The countries also plan to work together in trade, manufacturing, agriculture, and energy.
 
But the unity among the 5 nations is not quite solid. The Indian economy remains robust, while the rest are losing steam. India and China are divided over nuclear cooperation.
 
Observers have pointed out that the BRICS countries are losing their influence as a group. Their latest agreement on economic cooperation is seen as a way to boost their presence in the international community.
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The first 100 days of a government mongolianbusinessdatabase.com sourced from bloombergtv.mn

It is already been 100 days since the new government was established. The government recently approved a new 4-year program. For the first time, the government strategy includes steps on how to overcome economic difficulties in their program. For example, the government continues to urge consumers to buy domestic goods and products in order to support Mongolian producers. Prime Minister Erdenebat also presented his visit to Japan as another step toward supporting local businessmen. Furthermore, foreign relations policy will focus on building production in Mongolia. In addition, the government is intending to support domestic businessmen with tax policies.

Within the last 100 days progress was made in energy sector as well. The closing financing agreement on building a 50 MW wind power plant in Tsogttsetsii, Umnugovi was signed. The project will be financed for a total of 128 million dollars from EBRD, JICA, SB Energy and Newcom. Also, “Solar Power International” is constructing a 10MW solar power plant in Darkhan. The project is currently 65 percent complete and scheduled for completion by the end of the year. Additional power plant and cable network projects to be built aimag centers will be implemented by soft loans from the government of South Korea.

There are currently 68 projects in the energy sector, implementation of these projects will produce 20 times more energy than Mongolian national energy consumption. Currently, by implementing 5 of these projects the amount of produced energy will fully meet domestic demand and reach the maximum exporting volume.

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Dubai hosts IT fair for start-ups www3.nhk.or.jp

Dubai, in the United Arab Emirates, is hosting the largest IT fair in the Middle East. This year, hundreds of start-ups are pitching their technologies in a special exhibition.
 
The emirate has a strategy of investing in venture firms and business innovation, to make up for the lack of income from energy resources.
 
The first-ever exhibition for start-ups has drawn 400 firms from 60 countries. Seven are from Japan.
 
One of them is displaying a humanoid robot that can mimic users' facial expressions. Developers said they can also make the robot copy human body movements.
 
Another Japanese venture has drawn attention for its software that can manage highly detailed physical data of athletes. It is already holding business talks with a local firm.
 
An official of JETRO, the Japan External Trade Organization, said Dubai is eager to foster venture firms, and is a promising market for Japanese technology.
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Thai economy faces uncertainty after King’s death www.rt.com

The recently deceased King Bhumibol Adulyadej was a guarantee of Thailand’s economic stability, despite weak growth and weak investment. Analysts at Capital Economics have raised concerns the Thai economy may now face some turbulence, but others disagree.
"The highly revered king has been an important unifying figure in the country," said London-based Capital Economics.
 
"The king has helped add some legitimacy to the current military government. Without him, there are a number of times over the past decade where the country could have been plunged into civil war," the analysts added.
 
The 88-year old king ruled Thailand for seven decades.
 
Thailand has been suffering from weak growth and lack of investment. With possible political turmoil on the horizon, the country’s safe haven of tourism may be hit as well.
 
“The lack of investment is undermining the economy's future productive capacity. The bottom line is that it is difficult to be upbeat about Thailand's medium-term outlook until the political picture becomes clearer," analysts said.
 
According to the World Travel and Tourism Council, tourism makes up 10 percent of the Thai economy and employs 5.4 million people.
 
On Friday, however, the Thai baht was strengthening against the dollar, trading 0.38 percent higher. Thailand’s SET index was ailing this week on reports of the king’s worsening condition, got a boost on Friday, up over 4.5 percent.
 
Other analysts say the transition of power in Thailand will be quick and won’t hurt the economy.
 
"We expect the royal succession to designated heir Crown Prince Maha Vajiralongkorn will be stable and that market volatility around the king's death will not be long-lasting," Eurasia Group said.
 
The impact on the investment environment will be "relatively minor" and won’t last more than 100 days of mourning, it added. Thai companies are likely to postpone launches of new projects for the period, according to Eurasia Group.
 
"We have only seen two or three days of net outflows from the local equity and bond markets and the sizes are not very big," said Singapore-based Nordea Markets' chief analyst Amy Yuan Zhuang. She added however the outflows could grow.
 
Although bars could remain closed for a few days, airports will not be shut down, and things will return to normal quite soon, according to an officer at a Western embassy in Bangkok, quoted by Reuters.
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ZTO Express eyes largest Chinese company U.S. IPO since Alibaba www.reuters.com

Logistics company ZTO Express has set terms for what could be the largest U.S. initial public offering this year and also the biggest by a Chinese company after the $25 billion IPO of e-commerce giant Alibaba Group Holding Ltd (BABA.N) in 2014.
 
ZTO's IPO later this month, which could raise as much as $1.5 billion, is the latest example of a Chinese company seeking to capitalize on its growth prospects to lure Western investors, while also avoiding the red tape associated with launching IPOs in mainland China.
 
China is the world's largest express delivery market, with 21 billion parcels delivered in 2015, according to market research firm iResearch, cited in the IPO prospectus of ZTO. This is approximately 1.5 times the total parcel volume of the United States.
 
ZTO said in a regulatory filing on Friday that it expected to sell 72.1 million American depositary shares in the range of $16.50 to $18.50.
 
Sources close to ZTO told Thomson Reuters publication IFR earlier this year the company was eyeing a U.S. listing for a faster completion and to make it easier for existing shareholders to monetizes their stakes.
 
A consortium of investors including Hillhouse Capital Management Ltd of Hong Kong and private equity firm Warburg Pincus LLC invested in the company in 2015.
 
Founded in 2002, ZTO is a major player in China's quickly expanding e-commerce market. It delivers parcels for Alibaba and JD.com Inc (JD.O), among others.
 
ZTO delivered roughly 14 percent of all parcels in China last year, according to its IPO prospectus.
 
Sales of ZTO jumped to RMB 6.1 billion ($915.8 million) in 2015, up from RMB 3.9 billion in 2014. Its net income was RMB 1.3 billion ($200.4 million). It has roughly 7,700 network partners and 74 sorting hubs.
 
ZTO will use the proceeds from its offering to buy more trucks, expand capacity through the purchase of land, facilities and equipment and for other general corporate purposes.
 
ZTO intends to list on the New York Stock Exchange (NYSE) under the ticker ZTO.
 
Morgan Stanley (MS.N) and Goldman Sachs Group Inc (GS.N) are the lead IPO underwriters.
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UK economy 'faces prolonged weakness', Item Club report says www.bbc.com

Britain's economy faces a "prolonged period" of weaker growth as consumer spending slows and business curbs investment, according to a report.
Although the EY Item Club think tank predicts the economy will grow 1.9% this year, it expects that performance to fizzle out as inflation rises.
The economy's stability since June's Brexit vote was "deceptive", EY said.
Meanwhile, a senior Bank of England official told the BBC that inflation may surpass its 2% target.
In an interview to be broadcast on Monday, the Bank's deputy governor Ben Broadbent told Radio 5 live that sterling's weakness would fuel inflation, but that controlling prices with tighter monetary policy could hit growth and jobs.
The dilemma facing policymakers was underlined in the Item Club report.
It expects inflation to jump to 2.6% next year before easing back to 1.8% in 2018. That will cause growth in consumer spending to slow from an expected 2.5% this year to 0.5% in 2017 and 0.9% the year after, the report said.
Business investment is also forecast to fall due to uncertainty surrounding Britain's future trading relationship with the EU, dropping 1.5% this year and more than 2% in 2017.
EY predicts that the impact of weaker consumer spending and falling investment will cause UK GDP growth to drop sharply to 0.8% next year, before expanding to 1.4% in 2018.
Vulnerable sectors
Peter Spencer, chief economic advisor to the EY Item Club, said: "So far it might look like the economy is taking Brexit in its stride, but this picture is deceptive.
"Sterling's shaky performance this month provides a timely reminder that challenges lie ahead. As inflation returns over the winter it will squeeze household incomes and spending.
"The pressure on consumers and the cautious approach to spending by businesses mean that the UK is facing a period of relatively low growth," he said.
The report said that exporters will benefit from the depreciation of sterling, which last week tumbled against a basket of currencies. Exports will increase by 4.5% in 2017 and 5.6% in 2018, EY forecast.
But Mr Spencer did not expect this to be enough to offset a wider slowdown.
"With activity in the domestic market flat, GDP growth will become heavily dependent upon exports next year," he said.
'Undesirable consequences'
"But once the UK has left the EU certain sectors, such as aerospace, automotive, and chemicals that trade extensively with the EU will be a lot more vulnerable and may need to be supported by subsidies and more robust industrial policies," he said.
Some of the economic challenges were spelled out in Mr Broadbent's BBC interview with 5 live's Sean Farrington.
The deputy governor, echoing remark's by the Bank's governor Mark Carney last week, said that letting inflation run ahead of the 2% target might ensure the economy does not suffer.
Tighter monetary policy to meet the target could lead to "undesirable consequences" such as lower growth and higher unemployment, he said. It's a "trade off", he added.
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China backs Brics nations despite global uncertainty www.bbc.com

China's president has said the long-term prospects of the Brics countries - Brazil, Russia, India, China and South Africa - are still positive despite a precarious global economy.
President Xi Jinping said the Brics countries were among those currently enduring slower economic growth.
But he stressed that the potential and strength of the group was "unchanged".
It comes as leaders of the Brics countries agreed in India to forge closer business and trade ties.
The grouping contains about half of the world's population and nearly 25% of world economic output.
Speaking at the Brics summit in the Indian resort state of Goa, Mr Xi referred to the recent slowdown in economic growth amongst the group.
But he added the position of the Brics "is still positive long-term" due to their resources and workforces.
Earlier this month, the International Monetary Fund cut its forecast for world economic growth in 2016, with Brazil, South Africa and Russia receiving some of the sharpest downgrades.

The Brics economies have been hit by falling global demand and lower commodity prices, while some have faced corruption scandals.
Brazil and Russia are both in recession, and Brazil on some counts is suffering its worst downturn since the 1930s.
South Africa narrowly avoided a recession last month, while China is going through its slowest economic growth in 25 years.
Still, Lord Jim O'Neill, the economist who coined the term "Brics", told the BBC he remained confident of the grouping's success.
Ahead of the talks, he said it is "bigger today [than] even in the most optimistic scenario I thought 15 years ago, and it's primarily because of China".
'Asian century'
At the summit, the Brics leaders agreed to set up a new credit rating agency and expand the role of emerging economies, and recognised the threat from terrorism.
In separate agreements, Mr Xi vowed to pursue closer ties with India and Russia as part of a wider Chinese push to foster global trade partnerships.
Indian Prime Minister Narendra Modi said India and China had a responsibility to join hands and turn the 21st Century into an Asian century.
Meanwhile, Mr Modi and Russian President Vladimir Putin signed multi-billion dollar energy and defence pacts on Saturday on the sidelines of the summit.

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More measures ahead to streamline business registration in China www.xinhuanet.com

BEIJING, Oct. 14 (Xinhua) -- The Chinese government will further streamline registration procedures for private businesses after the October introduction of related measures to encourage entrepreneurship and improve the business environment.

The measures, initially approved in May and put in place from Oct. 1, included merging five business certificates into one license. They have significantly facilitated the operation of private businesses within two weeks of implementation, showed data from the General Administration for Industry and Commerce in a report heard at the State Council's executive meeting chaired by Premier Li Keqiang on Friday.

Registering a new business in China now takes only two to three working days, compared to a previous process of several months involving stacks of printed documents to be submitted to half a dozen departments.

The premier praised the progress, while pointing out that more efforts are needed as starting a business in China still requires too many certificates.

"We should reduce those certificates that are not really required for starting a business, therefore fully releasing the benefits of reforms and the market," Li said.

The premier has continuously stressed that streamlining business registration and scaling back government control would serve another round of opening-up and improve China's global competitiveness.

Measures have been taken since 2015 in China to combine the business license, the organization code certificate and the certificate of taxation registration into a single document, with another two certificates, namely the social insurance registration certificate and the statistics registration certificate, included later.

"Chinese people do not lack the passion and wisdom for innovation and entrepreneurship," Li said. "The key is to properly unleash their potential."

Measures to be introduced to further facilitate business registration in China include encouraging pilot measures to integrate more certificates into the current scheme to be taken in certain cities and regions for assessment before putting them into practice nationwide, and providing an online service covering the whole registration process.

Currently, 22 provinces and regions, including Beijing and Shanghai, have launched such trials.

The Friday meeting also called for greater efforts in on-time and in-time regulation with better information sharing and recognition among government departments.

A total of 488,000 new business licenses have been issued since Oct. 1. An online survey showed more than half of those surveyed gave positive comments on the business registration reform.

Data also showed new business registrations increased from about 12,000 per day in 2015 to 14,600 in the first eight months of 2016, compared to only 6,900 before the changes.

Premier Li also stressed the importance of proper supervision in carrying out the business registration reform, while warning against the disruptive examination of private enterprises.

Despite the fact that China faces mounting downward economic pressure, the employment rate is up. Li said that more than 10 million urban jobs have been created since January.

"This is a remarkable achievement, and the way to ensure employment is to boost market potential and vigor," Li said. Enditem

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Alibaba’s Jack Ma wants to create 100 million jobs www.rt.com

Jack Ma, the founder and chairman of the world’s largest e-commerce platform Alibaba, has revealed an ambitious plan to create 100 million jobs in the next twenty years.

“Alibaba is a company aiming to help solve social problems. In 20 years, we hope to serve two billion consumers around the world, empower 10 million profitable businesses and create 100 million jobs,” wrote Ma in the annual letter to shareholders, stressing that the group would be in for an even more difficult journey than the one it has gone through.

Ma expects three more decades of fast technological change across industries. The change will include transformation of traditional retailers in a multi-trillion dollar market.

“Throughout history, technological disruptions have followed similar trajectories: 20 years of technological disruption followed by 30 years of further rapid change as new technologies are applied throughout society,” the letter says.

Alibaba aims to invite retailers to join its system of online selling platforms, advertising tools as well as cloud computing offerings.

“We are working to create the fundamental digital and physical infrastructure for the future of commerce, which includes marketplaces, payments, logistics, cloud computing, big data and a host of other fields,” the CEO wrote, adding that the company didn’t try to switch transactions from offline to online.

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