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

64x64

Pound sees further volatile trading www.bbc.com

The pound is higher in early Asian trading, regaining some of the ground lost from a sharp drop late on Tuesday.
The currency was trading at $1.2259, up 0.8% from its fall the previous day.
On Tuesday, it had fallen more than 2%, dropping below $1.21, while against the euro it fell below €1.10.
The pound has now fallen about 18% against the dollar since the referendum, to levels not seen since 1985.
"Unfortunately this volatility in the pound is unlikely to end until there is greater clarity around Brexit," said market analyst Angus Nicholson of IG in Melbourne.
He added that the rise in Asian trading may be driven by Prime Minister Theresa May making a late amendment to the terms of a debate on Wednesday, seen by traders as effectively giving Parliament a vote on the terms of Brexit.
Neil Wilson from ETX Capital said the mood around the pound had been extremely negative in recent days and that it was "now trading like an emerging market currency."
He also said comments by a senior Bank of England official had not helped.
Michael Saunders, a member of the Bank's interest rate-setting committee, said earlier that the pound could still "fall further", but that the recent sharp drop was not an immediate cause for concern.
Bank threat
The comments were interpreted as a signal that the Bank could keep interest rates lower for longer.
Some traders also said sterling came under pressure from reports that US banks Citi and Morgan Stanley could move staff out of London, adding to worries about foreign investment leaving the UK.
"It really isn't terribly complicated. If we are outside the EU and we don't have what would be a stable and long-term commitment to access the single market then a lot of the things we do today in London, we'd have to do inside the EU 27," said Rob Rooney, chief executive of Morgan Stanley International.
Traders also pointed to leaked documents, warning that a withdrawal from the EU single market could cost the Treasury more than £66bn a year, as a reason for the drop.
...


64x64

Premier’s visit to Japan starts www.mongolia.gogo.mn

An official visit of the Prime Minister, Mr J.Erdenebat to Japan commenced today.
He is to have official talks with his Japanese counterpart, Mr Shinzo Abe to conform the contents and line of actions, to be realized in frames of the Mongolia-Japan Strategic Partnership.
The Premier will also pay courtesy calls on the Speaker of House of Representatives of the National Diet of Japan, Mr Tadori Oshima, and Speaker of House of Councillors, Mr Chuichi Date. Mr Erdenebat is set to attend the Mongolia-Japan Trade and Investment Forum to give insight into the investment environment and business opportunities in Mongolia.
...


64x64

Bank of Japan policymakers signal higher threshold for further easing www.reuters.com

Bank of Japan policymakers kept to their pledge to expand stimulus but only to protect the economy from external shocks, signaling that the threshold for further easing has been raised after last month's policy revamp.
 
BOJ Governor Haruhiko Kuroda made no direct reference of the need to achieve his inflation target quickly when he reiterated his readiness to cut interest rates or expand asset buying.
 
"We are prepared to ease policy again, including lowering short-term rates, if we judge that the merits outweigh the costs," Kuroda told parliament on Wednesday.
 
Yutaka Harada, who has been among the most vocal advocates of aggressive money printing on the nine-member board, also said the BOJ would ease if "sudden changes in the global economy" threatened the price target.
 
Before last month's change in policy framework, BOJ officials have said they would not hesitate to ease if it would hasten achievement of their elusive price growth target.
 
"It is clear from the change in the policy framework that the BOJ has essentially given up on a quick victory in achieving 2 percent inflation," said Hiroshi Shiraishi, senior economist at BNP Paribas Securities.
 
"The BOJ will not be proactively easing policy to achieve 2 percent inflation quickly. It is moving toward a more flexible inflation target," he said.
 
The comments by Kuroda and Harada came ahead of the BOJ's next review on Oct. 30-Nov. 1, when it may again push back the timing for achieving its price target in a quarterly review of its forecasts.
 
Only a handful of analysts polled by Reuters predicted the BOJ would ease at the next review, while about 70 percent said it would act next year.
 
The BOJ last month switched its policy to target interest rates and away from expanding the monetary base - or the pace of money printing - after years of massive asset purchases failed to jolt the economy out of decades-long stagnation.
 
Analysts say the move aimed to change the BOJ's framework into one suited for a long-term battle to hit its 2 percent inflation target. Kuroda has acknowledged it will take some time to hit the goal.
 
The BOJ maintained a loose pledge to keep the size of its balance sheet roughly unchanged even after shifting to a rate target, reflecting the views of board members such as Harada who insist aggressive money printing was key to ending deflation.
 
Harada, who voted for last month's policy make-over, said the BOJ's pledge to maintain its huge monetary base remained crucial in raising inflation expectations in the long run.
 
The BOJ's holdings of government bonds comprised just 30 percent of Japan's public debt, leaving room for additional purchases by the central bank, he said in a speech to business leaders in the central Japan prefecture of Nagano.
 
"Japan is quite distant from reaching the limits of monetary easing," he said.
...


64x64

Australia Sells A$7.6 Billion of 30-Year Bonds in Record Deal www.bloomberg.com

Australia’s government sold its biggest-ever bond, raising A$7.6 billion ($5.8 billion) in its first ever offering of 30-year bonds.
The new March 2047 securities were priced to yield 3.27 percent, the Australian Office of Financial Management said in a statement. That equated to 101.5 basis points more than the 10-year bond future. The bank-managed transaction further extends the nation’s yield curve following the AOFM’s sale of 2039 bonds a year ago.
Start your day with what’s moving markets.
The government’s borrowing needs have blown out as lower commodity prices and reduced mining investment sapped government revenues, while the authorities have also struggled to rein in spending. The country is in the midst of its longest stretch of budget deficits since at least 1970 and expectations for a return to surplus have been repeatedly pushed back. The face value of the government debt pile at the end of last week was A$443 billion and budget estimates have it climbing to almost A$500 billion by the end of June 2017.
“I think many investors -- including us -- were very interested, as the bond is very cheap,” Ben Alexander, who helps oversee A$6.2 billion as principal at Ardea Investment Management in Sydney, said before the AOFM pricing announcement. “The market has really made room for the issue.”
...


64x64

Coking coal, iron ore prices resume surge www.mining.com

The rise in the price of coking coal shows no signs of running out of steam with the Australian export benchmark price climbing again as Chinese traders return from a weeklong holiday with renewed confidence in the the health of the world's second largest economy.
 
Metallurgical coal was exchanging hands at $218.10 on Tuesday, up $4.70 since the start of the week according to data provided by Steel Index. Steelmaking coal prices are up nearly three-fold since hitting multi-year lows in November last year.
 
Coking coal, iron ore prices resume surgeCoal used in power generation has also experienced an unexpected jump this year with seaborne prices for thermal coal up more than two-thirds since the start of the year to exchange hands for just over $84 a tonne on Monday, up 8% since the start of October.
 
The rally was triggered by 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. Safety closures and weather related supply curbs in China and Australia only added fuel to the fire.
 
Iron ore also enjoyed renewed interest adding nearly 4% this week to trade at $56.50 a tonne on Tuesday. The price of iron ore is up 32% this year and like coking coal the resurgence comes against expectations of further declines as Chinese steelmaking peak after three decades of growth.
 
In 2011 floods in key export region in Queensland saw the coking coal price touch $335 a tonne. The iron ore price peaked in February that same year at $191.50 a tonne. Despite iron ore rally, the iron ore/coking coal ratio is now at its lowest level this century after peaking at 1.2x during 2010.
 
 
...


64x64

Self-driving car tested for first time in UK in Milton Keynes www.theguardian.com

A driverless car has been tested for the first time on UK streets in the latest development in self-driving technology in Britain.
 
The trial saw a two-seater LUTZ Pathfinder travel 1.25 miles (2km) through pedestrianised areas of Milton Keynes, reaching speeds of up to 15mph while having to cope with walkers and cyclists for the first time. A driver was on board to take over in case of emergency.
 
The cars, built by Transport Systems Catapult (TSC), used virtual maps of the Buckinghamshire town to navigate the area around the train station and business district.
 
Google and Uber have tested autonomous vehicles on American roads, but previous UK trials have involved a human manually operating the vehicle.
 
Although fully automated cars are not expected to be in use in the UK for about 10 years, the government is keen to ensure that Britain is at the forefront of developing driverless technology.
 
Earlier this year, ministers launched a consultation on changes to motor insurance rules and the highway code. This is aimed at allowing self-driving cars to be on the roads by 2020.
 
The business secretary, Greg Clark, said: “The global market for autonomous vehicles presents huge opportunities for our automotive and technology firms.
 
“The research that underpins the technology and software will have applications way beyond autonomous vehicles.”
 
A computer on board the vehicle senses the surrounding environment with cameras and lidar, a similar system to radar that uses light from a laser, to avoid accidents.
 
The demonstration marks the end of 18 months of development by TSC, a not-for-profit research organisation funded by a combination of public money and private sector investment.
 
TSC said the Milton Keynes trial had been a success and the vehicles had operated as expected.
 
The test was also designed to gauge the public reaction to the technology and begin work on the regulatory architecture that will govern autonomous vehicles.
 
TSC said it had worked with Milton Keynes council on safety planning and hoped that the trial showed driverless vehicles could be used for transportation in other towns.
 
“Driverless vehicles are coming to Britain and what we have demonstrated today is a huge step on that journey,” said Neil Fulton, the TSC programme director.
 
He said successful tests in Milton Keynes would pave the way for further research and trials participated in by UK universities and small businesses.
 
The software in charge of the vehicle, Selenium, was developed by scientists, mathematicians and engineers from the Oxford Robotics Institute, through a company called Oxbotica.
 
Driverless car tests have had mixed results in the US, where the technology is further developed than in the UK.
 
Uber has raced ahead of its competitors, deploying Ford Fusions in Pittsburgh, Pennsylvania, which do not require hands on the wheel, as part of the company’s regular taxi service.
 
It is also developing a driverless car in partnership with Swedish carmaker Volvo.
 
But electric car company Tesla raised concerns about the implications of driverless vehicles in May, after one of its cars using autopilot mode was involved in a fatal crash.
 
Last month, a Google self-driving car collided with another vehicle after the latter ran through a red light.
 
Ministers want the UK to be a world leader in the driverless vehicle market, which could be worth £900bn by 2025, according to a KPMG study.
 
In the budget in March, the then chancellor George Osborne said self-driving cars could be tested on British motorways next year.
...


64x64

Apple's iPhone 7 allegedly explodes in China www.chinadaily.com.cn

While the explosion of Samsung Galaxy Note 7 is not far behind us, a video of an iPhone 7 exploding in China surfaced online on Monday, The Paper reports.
 
In the video, a man from Zhengzhou, central China's Henan province, said that his rose-gold iPhone 7 suddenly exploded as he was shooting a video with it last week. The phone exploded into two parts and left his hands swollen and his face with some injuries.
 
Unlike the Galaxy Note 7's explosion, which smoked excessively after burning, this iPhone 7 exploded leaving no burn marks, and the battery remained in good condition.
 
Apple China reported the incident to its headquarters, says The Paper.
 
This is the first known iPhone 7 explosion in China, but it was not an isolated incident within the world. An iPhone 6 Plus in California, US, exploded with black smoke as it was charged and the phone was completely, the ABC News reported.
 
Earlier this week, an iPhone 6 Plus belonging to Darina Hlavaty, an American student, burned suddenly during a class, leaving a burnt hole in her jeans.
 
For now, there is no evidence that these are isolated incidents and will not happen again. Apple Inc has not disclosed the measures it will take to resolve this issue.
...


64x64

Samsung shares slide further after Note 7 crisis www.bbc.com

Shares in Samsung fell further on Wednesday after the smartphone maker said it would scrap production of its flagship Note 7 model.
Shares fell 3% at the open, adding to Tuesday's 8% fall.
The company has seen more than $20bn wiped off its market value in two days.
The Note 7 was recalled over exploding batteries in September but as new phones showed the same problems, the South Korean firm has now scrapped the device entirely.
The drop in shares marks a one-month low for Samsung as concerns grew that the current crisis will go beyond the costs of the recall and affect the brand's overall reputation.
Analysts are suggesting the Note 7 crisis could cost Samsung in the long run, particularly coming just as rivals, including Google and Apple, have announced new high-end smartphones.
The Note 7 had been seen as the main rival to Apple's new iPhone 7 model. Samsung's woes have sent Apple's shares to a 10-month high.
In September, Samsung recalled around 2.5 million phones after complaints of exploding batteries.
It later insisted that all replaced devices were safe. However, that was followed by reports that those phones were catching fire too.
But on Tuesday, the company said it would permanently cease production of the device and urged owners to turn it off.
...


64x64

WHO: Sugary drink tax reduces obesity, diabetes www3.nhk.or.jp

A World Health Organization report says taxing sugary drinks can help to reduce the risk of obesity and diabetes.
 
The report released on Tuesday was compiled by a WHO group that studies policies to prevent non-communicable diseases.
 
The study says the consumption of sugary drinks and other similar products is a major factor behind the rise in the number of people suffering from obesity and diabetes. The WHO says about 500 million people aged 18 or older are obese and over 400 million have diabetes.
 
It says an increase of at least 20 percent in the retail price of such products can encourage people to significantly reduce their consumption.
 
The report says a tax would have the greatest positive effect on the health of young people and those on low incomes.
 
It adds that a tax on sugary drinks can reduce people's suffering, save lives and cut healthcare costs.
 
Mexico has already introduced a tax on non-alcoholic beverages with added sugar. Britain, the Philippines and South Africa are considering taxes on sugary drinks.
...


64x64

Saudi Arabia to slash capital spending by 71% www.rt.com

With the largest budget shortfall among the world’s 20 biggest economies, Saudi Arabia is planning more austerity measures this year. The kingdom will scrap projects worth more than $20 billion as it comes to terms with cheaper oil.
 
According to the Saudi government’s bond prospectus obtained by Bloomberg, capital expenditure is expected to fall to $20.6 billion (75.8 billion riyals) this year compared with $70.2 billion (263.7 billion riyals) in 2015. Two years ago, the country’s capital spending was $98.6 billion (370 billion riyals).
 
“I would’ve liked to have seen more cuts to current spending rather than focusing almost entirely on capital expenditure,” said Khatija Haque, head of Middle East and North Africa research at Emirates NBD. She added “in the short-term, the impact will be slower growth” as government spending and investment is reduced.
 
Saudi officials have suspended bonuses and reduced allowances for government employees, and a 20 percent cut to ministers’ salaries. As a result of the cuts spending will decline to $155 billion (581.2 billion riyals) from $190 billion (714.4 billion riyals).
 
The kingdom’s growth will likely slow to 0.6 percent this year from 3.4 percent in 2015, according to HSBC Holdings.
 
In the summer, Riyadh unveiled a plan for the post-oil era in a move to reshape the kingdom’s economy. As part of the initiative, the country plans to triple non-oil revenue and cut public sector wages and subsidies by 2020.
 
Under the new program, Riyadh intends to boost non-oil revenues to $141 billion (530 billion riyals) within four years, from current $43.5 billion (163.5 billion riyals).
 
The crude price fall has had a significant impact on the kingdom’s economy as oil sales account for almost 90 percent of the country’s earnings. Saudi Arabia is suffering a record budget deficit which is estimated at $87 billion this year. According to government projections, it will decline to 13.5 percent of GDP this year from 15 percent in 2015.
 
This week Saudi officials are meeting with investors on the country’s first international bond issue aimed at strengthening the strained finances. The offering is expected to exceed $10 billion.
...