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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Colombia peace deal: Historic agreement is signed www.bbc.com

The Colombian government and left-wing Farc rebels have signed a historic agreement that formally brings an end to 52 years of civil war.
The rebel leader Timoleon Jimenez, known as Timochenko, apologised to "all the victims of the conflict" and was greeted by cheers and applause.
He said: "I would like to ask for forgiveness for all the pain that we have caused during this war."
Guests dressed in white at the ceremony in Cartagena, to symbolise peace.
The last of the major Cold War conflicts killed 260,000 people and left six million internally displaced.
President Juan Manuel Santos said: "Colombia celebrates, the planet celebrates because there is one less war in the world.
We will achieve any goal, overcome any hurdle and turn our nation into a country we've always dreamed of - a country in peace."
Timochenko said the Farc, which began as the armed wing of the Communist Party in 1964, is leaving armed conflict behind and moving in to peaceful politics.
"We are being reborn to launch a new era of reconciliation and of building peace," he said.
"Let us all be prepared to disarm our hearts."
The president and Timochenko used a pen made from a bullet to sign the deal.
 
 
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PM receives World Bank and EBRD officials www.news.mn

Prime Minister J.Erdenebat received Bert Hoffman, Country Director for Mongolia of World Bank yesterday (26th of September). At the meeting they discussed Mongolian-World Bank cooperation and the implementation of projects and programmes to improve Mongolian economy growth. In 2016, the 25th anniversary of Mongolia’s membership in the World Bank is being celebrated.

PM J.Erdenebat also met Philip Bennett, First Vice President at the European Bank for Reconstruction and Development (EBRD). They discussed the Bank’s upcoming strategy for investing in Mongolia, the EBRD’s current work and the pipeline of potential projects.

Philip Bennett is visiting Mongolia to mark the 10th anniversary of EBRD investment in the country. Since the start of its operations in 2006, the EBRD has invested €1.4 billion in the country, almost entirely in private sector development. The EBRD is currently considering broadening its scope of investment to the municipal and transport infrastructure sectors.

During his visit, Mr Bennett is also expected to sign the contract for the EBRD’s second wind farm project in the country. The wind farm, to be located in Tsetsii, will be co-financed by the Japan International Cooperation Agency (JICA) and built by a joint venture between Mongolia’s Newcom and Japan’s SoftBank.

This will be Mr Bennett’s second visit to Mongolia as the EBRD’s First Vice President. He also visited the country a number of times before joining the bank.

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Sainsbury's one-hour delivery service takes on Amazon www.theguardian.com

Sainsbury’s is to fight back against Amazon with a one-hour grocery delivery service in London.
 
The supermarket, which recently bought Argos as part of its efforts to see off the American online retail specialist, has developed an app called Chop Chop, through which shoppers can order up to 20 items to be delivered from a local store within an hour.
 
Since June, Sainsbury’s has been testing the service in Wandsworth, south London, with groceries delivered Deliveroo-style using bicycles. It is now being extended across south-west and central London areas including Chelsea, Westminster, Fulham, Battersea, Southwark, Wandsworth and Wimbledon.
 
The supermarket first offered a delivery service by bicycle more than 130 years ago, but the latest effort is part of its bid to fight back against the encroachment of a very modern phenomenon.
 
Amazon began offering frozen and chilled foods via its Prime Now one-hour delivery service in Birmingham nearly a year ago, and now offers fruit and vegetables for one-hour delivery in a number of cities including London, Glasgow, Manchester and Liverpool.
 
In June, Amazon launched its Fresh grocery delivery service, which offers fresh fruit, vegetables and meat as well as other kitchen cupboard staples, in London and Surrey. It kicked off the service after Morrisons agreed to supply Amazon with groceries.
 
The arrival of Amazon has prompted the major supermarkets to up their game by trialling new delivery services.
 
Sainsbury’s is also testing a same-day delivery service in Streatham and Richmond in London, and Brookwood in Surrey. Customers who order by 12 noon can get their shopping delivered within six hours. Tesco is also trialling same-day delivery in a few locations.
 
Sainsbury’s said it had recruited a team of 40 cyclists and grocery pickers, all direct employees, to support its one-hour delivery service.
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Bad news for stocks if Trump wins debate www.cnn.com

Expect stocks to tumble if Donald Trump has a great first debate night.
Wall Street doesn't want a President Trump (with the exception of a few hedge fund managers and Trump supporters, like Carl Icahn). As the old saying goes, the market loves good news, it can deal with bad news, but it hates uncertainty. And Trump is the motherlode of uncertainty.
"The typical investor just can't contemplate the possibility of a Trump victory," says Cary Leahey, chief U.S. economist at

As polls tighten -- CNN now calls it a "dead heat" -- Wall Street is having to come to terms that the possibility of a President Trump is real...and rising. With the debate looming on Monday, the Dow fell 167 points.
A strong debate performance by Trump on Monday will exacerbate those worries.
"If for some reason Trump puts on a presidential showing...and Clinton stumbles for whatever reason, then the market may take another reassessment," says Leahey. That's the polite way of saying, stocks are likely to fall.
The reality is stocks are already pretty pricey. They aren't at bubble level, says Tim Anderson, managing director of MND Partners. But with the economy stalling at ho-hum growth of 1% to 2% and companies expected to have a sixth quarter of falling earnings, investors are hitting the "pause" button.
Brexit and the U.S. presidential race only add to the hesitation.

Are we in for another Brexit vote? Traders are starting to wonder. Consider what happened in the lead up to Brexit: few thought it would happen until polls began to tighten shortly before the election. Stocks in the U.K. and Europe -- and even around the world -- began to zig and zag up and down as sentiment shifted. Then markets plummeted (albiet only for a few days) are Brexit.
"I think this one needs a fat lady singing," says economist Diane Swonk of DS Economics. Uncertainty will reign "until we know the outcome of the election and who's going to be in key post."
In a new report out this week, Wells Farg (WFC)puts the probability of a Clinton win at only 50%. The bank says that would be "neutral" or "slightly positive" for investors. In contrast, a Trump victory would be "negative" or "slightly negative."
Many Wall Street banks have reached a similar conclusion: Clinton would be better for the economy and market.
"Markets, in general, are apt to do better under a Clinton Administration," said UBS in late August.
Related: Here's how the 'king of debt' plans to balance the budget
Trump wants to impose a massive tax cut and scale back regulations, which the business community likes. But he also wants to restrict trade and immigration, and his policies could add significantly to the debt. Investors fear this could lead to a trade war -- and even a recession. They also don't know how to deal with his unpredictability.
"It remains impossible to know what Mr. Trump really wants." " wrote Stefan Kreuzkamp, chief investment officer at Deutsche Bank, in a recent report.
For now, U.S. stock indices are close to record levels and U.S. government bond yields are very low. Investors appear to be pricing in a Clinton win. If Trump continues to surge, investors will have to figure out just how scared of Trump they really are.

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Japan to increase butter imports www.nhk.or.jp

Japan's agriculture ministry is planning to import another 4,000 tons of butter, as raw milk production may fall in some areas of the country.

Ministry officials say cows have been in poor condition in Hokkaido and Iwate prefectures, which were hit by typhoons last month.

The ministry earlier decided to import 13,000 tons of butter, as a shortage is expected this year as in recent years.

Officials say another 4,000 tons are needed to have a sufficient amount after Christmas and year-end, when demand usually surges.

The ministry will make an official decision on Tuesday after hearing from wholesalers and consumer groups.

The number of domestic dairy farmers has been shrinking, causing a drop in milk production. Dairy producers in Japan tend to sell milk for drinking or use it to make whipped cream rather than butter.

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Stunning coking coal rally wreaks havoc in steel, iron ore www.mining.com

 
The rise in the price of coking is upending the economics of the iron ore and steel markets with the Australian export benchmark price climbing 164% so far this year.
 
Metallurgical coal was exchanging hands at $206.40 on Monday according to data provided by Steel Index as it consolidates at higher levels following weeks of panic buying not seen since 2011, when floods in key export region in Queensland sent the price surging to $335 a tonne (albeit not for long).
 
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.
 
In a new research note Adrian Lunt of the Singapore Exchange says margins for steelmakers in China, which forges almost as much steel as the rest of the world combined have come under pressure again and the tight conditions may continue:
 
"The recent spike in coking coal prices has sent spot steelmaker margins plummeting back to around their lows last seen in Q4 2015. And unless coking coal prices reverse course soon, this is likely to weigh on steelmaker earnings through the course of Q4 2016, particularly as restocking needs have provided some support to iron ore prices
 
"With Chinese steel output remaining strong and demand sentiment relatively robust (with continued support from both real estate and infrastructure in particular), steelmaker margin pressures appear likely to persist over the coming months."
 
While the price of iron ore has also recovered this year – up 31.5% year to date holding above $55 a tonne on Monday – the iron ore/coking coal ratio is now at its lowest level this century according the SGX calculations.
 
Analysts from Macquarie recently warned that speculation as much as fundamental factors are driving the price with a mere half-a-million tonnes (out of a seaborne trade of 200 million tonnes a year) responsible for the August-September surge to above $200.
 
Most producers, with the exception of BHP Billiton which set up globalCOAL a few years back, do not receive the spot price but the ruling quarterly contract price which is still in double digits.
 
In an earlier report The Steel Index noted that speculation that the upcoming quarterly contract negotiations for the October – December 2016 period "may be rather combative" and that according to market participants, Japanese steelmakers will undoubtedly face levels “at least above US$120/t” in the final quarter of 2016.
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China biggest threat to global economic stability – former IMF chief economist www.rt.com

 
Soaring debt and stagnant growth in China are a major threat to the global economy, said Harvard professor and former chief economist of the International Monetary Fund (IMF) Kenneth Rogoff in an interview with the BBC.
 
"I think the economy is slowing down much more than the official figures show," Rogoff told the British broadcaster.
 
The IMF expects the Chinese economy to grow 6.6 percent this year, its lowest growth since 1990.
 
"If you want to look at a part of the world that has a debt problem, look at China. They've seen credit fueled growth and these things don't go on forever," he added.
 
Rogoff doesn’t rule out that one of the main drivers of the global economy may face a “hard landing”.
 
"We've taken it for granted that whatever Europe's doing, Japan's doing - at least China's moving along and there isn't really a substitute for China," he said.
 
“I think India may come along some day, but it's fallen so far behind in size it's not going to compensate," Rogoff added.
 
According to the economist, China is now seeing a "big political revolution," pointing out to Beijing’s attempt to make the economy consumer-driven.
 
A recent research by Nomura showed that since the global crisis of 2008, Chinese firms have more than doubled the percentage of income they spend on servicing debt to 20 percent, the highest in the world.
 
The Bank for International Settlements in Basel has estimated China's credit-to-GDP deficit is now 30.1 percent, its biggest number since 1995, raising fears that the country’s economy growth was driven by a debt bubble.
 
This leaves British banks exposed to any trouble in the world’s second-biggest economy, according to Rogoff. UK banks have $530 billion worth of investments in China, or 16 percent of overall foreign assets.
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Hyundai Motor union stages first full strike in 12 years www.reuters.com

Hyundai Motor's South Korean labor union staged its first full nationwide strike in 12 years on Monday over stalled wage talks, putting the automaker's earnings and sales targets at risk.
 
The full-day walkout came after a series of partial stoppages since July at the automaker's factories across South Korea, its biggest manufacturing base which produces nearly 40 percent of its vehicles sold globally last year.
 
The disruption, led by union boss Park You-ki, has led to lost production of 114,000 vehicles worth 2.5 trillion won ($2.26 billion) as of Monday, the biggest strike-related output loss for the automaker in terms of value of vehicles.
 
The union plans to stage a partial strike for the remainder of this week and stoppages could continue into next week depending on the company's response, union spokesman Jang Chang-yeal said.
 
"This year's strike is lasting longer than expected. The third-quarter earnings should disappoint," Samsung Securities auto analyst Eim Eun-young said, also citing weak domestic demand.
 
Hyundai, the world's fifth-biggest automaker along with Kia Motors, said in a statement it was "obviously disappointed" with any halt in production and was continuing to work with the union to resolve the dispute.
 
Hyundai Motor shares ended down 1.1 percent at 140,500 won, compared with a 0.3 percent fall on the broader market.
 
Hyundai Motor's unionized workers in South Korea last month overwhelmingly voted down a tentative wage deal which was less generous than last year's package.
 
PROLONGED STRIKE
 
Trade Minister Joo Hyung-hwan urged Hyundai Motor's union to resolve the dispute, saying the strike would "throw cold water on the exports recovery".
 
He said India overtook South Korea as the world's fifth-biggest car producing country from January to July this year, adding that rigid industrial relations and higher wages would worsen the competitiveness of the domestic car industry.
 
Hyundai posted its tenth consecutive quarterly profit fall in the April-to-June period, hit by an emerging-market downturn and its failure to tap into strong global demand for sport utility vehicles.
 
Hyundai and Kia Motors were expected to see global sales slip 0.6 percent to about 7.96 million vehicles this year, below their targets of 8.13 million vehicles, NH Investment & Securities analyst Cho Soo-hong said.
 
Hyundai Motor has been hit by strikes in all but four of the union's 29-year history.
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Opec plans fresh oil price talks says energy minister www.bbc.com

Oil producers in the Opec group of countries will make another attempt this week to reverse a slump in crude prices, according to Algeria's energy minister.
Noureddine Bouterfa said there would be an informal gathering of Opec members on the sidelines of an energy conference in Algiers on Wednesday.
"We will not come out of the meeting empty-handed," the minister added.
The fall in prices has been causing problems for poorer members of Opec.
Oil prices collapsed from peaks of more than $100 a barrel in mid-2014 to near 13-year lows below $30 in January. The price on Friday was $44.48 a barrel.
Analysts remain gloomy about the chances of an agreement.
Michael Hewson, chief market analyst at CMC Markets UK, said: "Given that Opec has failed to agree much of anything in the last 12 months, it seems unlikely that it will start now."
Opec's 14 members, which produce about a third of the world's oil, have so far failed to agree a deal to cut output that would prop up prices.
But the state of the oil market was "more critical" than when Opec last met three months ago, Mr Bouterfa said.
Crucially, Saudi Arabia, the largest Opec member and which has resisted production curbs, may now be more willing to cut output, he added.
Saudi Arabia pumped a record 10.69 million barrels a day in August compared with 10.2 million in January, according to data compiled by Bloomberg.
'Best solution'
Although Wednesday's meeting is an informal gathering, Mr Bouterfa did not rule out it becoming a formal event.
He said: "Either we reach an agreement, which would be good, or we reach an understanding on the elements of an agreement, and that would also be good.
"Every state in the organisation agrees on the need to stabilise prices, it just remains for us to find a format that pleases everyone. The best solution would be a (production) freeze."
Opec members are losing between $300m and $500m a day, Mr Bouterfa said. "No (oil) company will be able to withstand it if prices remain under $50 a barrel," he added.
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Prosecution seeks arrest of Lotte chairman in bribery probe www.bbc.com

South Korean prosecutors are seeking a warrant to arrest chairman Shin Dong-bin of Lotte Group in a corruption probe.
The request follows a questioning of Mr Shin last week.
The move is the latest twist in a continuing probe into the country's fifth largest conglomerate.
The scandal has already hampered a Lotte share sale and is seen as linked to the apparent suicide of a company top executive.
'Full co-operation'
A Lotte Group spokesman confirmed that Mr Shin was in South Korea and would co-operate fully with the investigation.
"It's regrettable that an arrest warrant has been sought," the company said in a statement.
"We will fully present our case during the court proceedings and wait for the wise decision of the court."
The court hearing on the warrant request is expected on Wednesday or Thursday.

In August, the vice chairman of South Korea's Lotte Group, Lee In-won, was found dead hours before he was to be questioned in the corruption probe.
Police investigators said the cause of death appeared to be suicide. The 69-year-old Mr Lee was due to be questioned the same day in an inquiry into a possible slush fund and financial irregularities at the company.
Raids on the company's offices have led to the firm pulling out of a share sale worth as much as $4.5bn (£3bn) for its hotel unit.
Lotte Group has more than 90 firms in sectors as diverse as beer, hotels and chemicals, and has annual revenues of about $60bn, according to the Korea Fair Trade Commission.
It is Korea's fifth-largest conglomerate and is considered one of Korea's family-run "chaebols" which are known to have complex ownership structures.

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