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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Director bonuses continue to grow at largest UK firms, City analyst says www.theguardian.com

The UK’s largest firms paid directors bigger bonuses in 2015 than the previous year, despite a fall in the number of shareholders backing their remuneration plans, according to analysis by Deloitte.
 
The City firm, which advises many top companies on how to pay executives, said new regulations that increased disclosure and brought in binding votes on board pay had to some extent put the brakes on executive payouts amongst FTSE 100 firms.
 
The median salary increased by 2% in 2015, in line with the previous three years, and the median amount that could be earned as a bonus remained at 150% of salary, where it has been since 2007.
 
But its analysis of the UK’s largest companies found that bonus payments in respect of performance increased last year, with the median payout rising to 77% of the maximum possible, from 73% in 2014. Only four companies paid no bonus to executive directors, it said, while seven companies paid the maximum amount possible.
 
This year has seen more companies face a pay revolt than the so-called shareholder spring in 2012, Deloitte said, suggesting that it could be a “pivotal moment for executive pay”. Eight companies have received less than 75% backing from investors for their remuneration reports and two failed to secure a majority. Just 26% of the top 30 companies were approved by 95% of shareholders or more, just half of the proportion of last year.
 
In April, 60% of shareholders voted against a £14m pay package for the chief executive of BP, in a year in which it reported record losses and cut thousands of jobs, and more than 50% of investors voted against pay deals at the medical equipment group Smith & Nephew. Other big firms also faced pay rebellions.
 
Stephen Cahill, partner in Deloitte’s remuneration team, said: “While we’re still talking about a relatively small number of companies, this is rightly a cause for concern. The 2016 AGM season has been bruising for a number of companies, perhaps even more so than the shareholder spring of 2012.”
 
Deloitte said concerns raised by shareholders included bonus targets not being disclosed and a lack of transparency about the link between executive pay and the performance of the business.
 
Cahill said median bonus payouts had consistently been between 70% and 80% of the maximum every year for the last 10 years. “We believe there needs to be much more rigour in the way the targets for these plans are determined, more discretion used to ensure payouts reflect overall performance, and greater scrutiny by investors once the targets are disclosed.”
 
Votes on remuneration that has already been paid are not binding for firms, but it has been suggested that the rules be changed. Cahill said this would cause some practical issues and may make shareholders more reluctant to vote against a deal. Instead he suggested a “yellow card” approach: “For example, if a company received less than 75% of votes in support a binding vote would be required in the following year, giving the company time to address the problem.”
 
 
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G20 summit to open on Sunday www3.nhk.or.jp

Leaders of 20 industrialized and emerging economies will meet in China on Sunday to discuss challenges facing the global economy.
 
The Group of 20 summit will be held for 2 days in Hangzhou, Zhejiang Province. Participants include Prime Minister Shinzo Abe, US President Barack Obama, and Chinese President Xi Jinping.
 
The summit comes at a time when the global economy faces downward risks such as the slowdown in emerging economies, Britain's decision to leave the European Union, and frequent terrorist attacks.
 
High on the agenda is how countries will cooperate to maintain a sustainable growth.
 
China, the chair country, has called for stepping up structural reform to ease excessive global production. It also hopes to expand trade and investment as a driving force for a new growth.
 
Attention is focused on whether the leaders can agree on implementing monetary, fiscal and structural policy measures to eliminate protectionism.
 
The leaders are holding bilateral talks on the sidelines of the summit. Experts suggest they are discussing security issues, such as the situation in the Korean Peninsula and anti-terrorism measures, as well as economic issues.
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Microsoft gets support in gag order lawsuit from U.S. companies www.reuters.com

Technology, media, pharmaceutical and other companies, along with major corporate lobbying groups, filed legal briefs on Friday in support of a Microsoft Corp lawsuit that aims to strike down a law preventing companies from telling customers the government is seeking their data.
 
Friday was the deadline for filing of friend-of-the-court briefs by nonparticipants in the case. The filings show broad support for Microsoft and the technology industry in its latest high-profile clash with the U.S. Justice Department over digital privacy and surveillance.
 
Microsoft's backers included the U.S. Chamber of Commerce, the National Association of Manufacturers, Delta Air Lines Inc, Eli Lilly and Co, BP America, the Washington Post, Fox News, the National Newspaper Association, Apple Inc, Alphabet Inc's Google, Amazon.com Inc, the Electronic Frontier Foundation and many others.
 
Microsoft filed its lawsuit in Seattle federal court in April, arguing that a law allowing the government to seize computer data located on third-party computers and often barring companies from telling their customers that they are targets is unconstitutional.
 
The Justice Department argues that Microsoft has no standing to bring the case and the public has a "compelling interest in keeping criminal investigations confidential." Procedural safeguards also protect constitutional rights, it contends. A Justice Department spokesman declined comment on Friday's filings.
 
Microsoft says the government is violating the Fourth Amendment, which establishes the right for people and businesses to know if the government searches or seizes their property, in addition to Microsoft's First Amendment right to free speech.
 
In the suit, which focuses on the storage of data on remote servers that are often referred to as "cloud" computers, Microsoft said it had been subjected to 2,600 federal court orders within the past 18 months prohibiting the company from informing customers their data was given to authorities pursuing criminal investigations.
 
Under the authority of the 30-year-old Electronic Communications Privacy Act (ECPA), the government is increasingly directing investigations at parties that store data in the cloud, Microsoft argued in its suit.
 
Five former law enforcement officials who worked for the FBI or Justice Department in Washington state also submitted a brief supporting Microsoft.
 
In July, a federal appeals court sided 3-0 with Microsoft in a separate case against the Justice Department, ruling the government could not force the tech company to hand over customer emails stored on servers outside the United States.
 
The Justice Department has not decided whether to appeal that decision, a spokesman said.
 
The case is Microsoft Corp v United States Department of Justice et al in the United States District Court, Western District of Washington, No. 2:16-cv-00537.
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Panasonic taking next-generation TVs global www.asia.nikkei.com

BERLIN -- Panasonic's OLED televisions, released last fall in Europe, will become available in other markets starting next year, the Japanese company revealed Friday here at the IFA 2016 electronics expo.

Organic light-emitting diode TVs use next-generation panels containing organic compounds that produce their own light. Not only do the TVs produce clearer colors than liquid crystal display varieties, they also boast higher image refresh rates.

But OLED TV panels are difficult to mass-produce, with a limited number of suppliers. Last year only 335,000 of the TVs hit the market worldwide. More than 90% were produced by South Korea's LG Group.

Panasonic will combine panels procured from LG with its own image-processing technology, including image processors developed in-house. Scenes will be more crisp and detailed than conventional OLED TVs owing to the deeper blacks, the company said. To accomplish that, Panasonic is leveraging the expertise it built up with plasma TVs.

The Japanese launch of 55-inch and 65-inch TVs is slated for April at the soonest, followed by Southeast Asia and Latin America. At Japanese volume retailers, LG Electronics Japan's newest 55-inch OLED TV sells for roughly 470,000 yen ($4,500) and the 65-inch model costs around 900,000 yen.

Panasonic's 55-inch TV will likely be priced at about 500,000 yen. The Japanese manufacturer plans to justify the premium over the South Korean rival by playing up advantages like better picture quality.

Panasonic rolled out a 65-inch model in Europe last October with a sticker price of 9,999 euros ($11,160). The company will gradually add new markets while incorporating OLED TVs as a core product category along with LCD sets.

Panasonic's TV business posted its first profit in eight years for the fiscal year ended in March. Before then, massive red ink led the company to pull out from North America and China, among other structural reforms. Panasonic is aiming to sell some 6.4 million units worldwide this fiscal year, which is still 60% below the fiscal 2010 peak. The company is currently revolving its television business around 4K LCD models, with commercialization of higher-definition 8K TVs also in sight.

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China's Zhangjiajie glass bridge closes after two weeks www.bbc.com

A glass-bottomed bridge in China that was heralded as a record-breaker when it opened just 13 days ago has closed.
Officials said the government was planning urgent maintenance work in the area and the bridge closed on Friday, with a re-opening time to be announced.
But the US CNN network said a spokesman told them the bridge, spanning a canyon, was "overwhelmed by the volume of visitors".
He said there had been no accidents and the bridge was not cracked or broken.
The 430m-long bridge, which cost $3.4m (£2.6m) to build, connects two mountain cliffs in Zhangjiajie, Hunan province.
It hangs 300m over a canyon said to have inspired the landscapes of the film Avatar.
When it opened, it was said to be the highest and longest glass-bottomed bridge in the world.

The park made the announcement on the Chinese micro-blogging site Weibo
The bridge can accommodate 8,000 visitors a day but the spokesman told CNN that 10 times as many people wanted access daily.
Officials at the park announced the closure in a post on the Chinese micro-blogging site, Weibo.
They did not mention visitor numbers but said the government urgently needed to upgrade the area.
The post said that tour groups who had planned to see the bridge over the weekend might have "discretionary admission".
In response to the announcement, one social media user wrote: "I have booked everything and now you are saying you are closed... Are you kidding me?"

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WADA Suffers Daily Harassment From Russian Hackers – Director General Niggli www.themoscowtimes.com

The World Anti-Doping Agency (WADA) has suffered “daily” cyber attacks and harassment from Russia, WADA Director General Olivier Niggli said Thursday in an interview with Norway’s NRK news website.

“We have experienced hacking attempts every day for three weeks. It happens all the time and is very annoying,” Niggli said.

WADA has a “pretty good suspicion” that Russians are responsible, Niggli said, adding that the hackers involved are “well known to Western authorities.”

But Russia’s targeting of WADA extends beyond hacking.

“Russia is threatening us and our informers” he said. The attacks include bugging homes and stealing personal property.

According to Niggli, constructive relations with Russian authorities can only be achieved once Russia “stops seeing us as an enemy and recognizes it has a problem which needs to be solved jointly.”

Russian whistleblower Yulia Stepanova, whose testimony to WADA was a key element of its report into Russian doping, said in August that she feared for her life after WADA announced hackers had broken into her personal WADA online account.

Stepanova, in hiding with her family in the United States, claimed the hack was was motivated by a desire to discover her exact location. She has subsequently changed locations, she told journalists during a conference call. “If something happens to us then you should know it is not an accident.”

Over 100 Russian athletes were banned from competing at this summer’s Olympic Games following WADA's investigations into state-sponsored doping throughout Russian sport.

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Jack Ma: Wars start when trade stops www.cnn.com

Jack Ma has a warning for those who see globalization as a problem: When trade stops, wars can follow.
"We should keep on going along the path of globalization," Ma said Friday in Hangzhou, China. "Globalization is good... when trade stops, war comes."
The executive chairman of Alibaba (BABA, Tech30) said he hopes the anti-globalization fervor that currently grips much of the world will ease after U.S. elections in November. China, in particular, has been a target of heated rhetoric.
"Every time there's an election, people start to criticize China. They criticize this, they criticize that," Ma told CNN's Andrew Stevens. "[But] how can you stop global trade? How can you build a wall to stop the trade?"

G20 leaders are preparing to meet this weekend in Hangzhou, the city where Ma founded his e-commerce giant in 1999. Trade -- and globalization -- are likely to be major topics of discussion.
For his part, the 52-year-old Ma believes that globalization hasn't gone far enough. He said international trade must now be improved so that more people can enjoy its benefits.
Ma is hoping to pitch G20 leaders on an electronic world trade platform, or e-WTP, that would help small businesses expand their customer base globally, the way multinational corporations have been able to. It would also help eliminate tariffs, inspections and other red tape that can trip up mom and pop shops.
"We need solutions for young people to leverage the technology we have, so they can buy anywhere, sell anywhere, trade anywhere," he said. "If you want to get involved, just join."

The first G20 summit was held in 2008. The annual confab of the world's 20 largest economies has a mixed record on producing meaningful policy results, but Ma said the summit is a "great opportunity" for politicians to listen to business leaders.
"Every government says they love small businesses but what have they done for them?" Ma asked. "We should pull down all the barriers."

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Samsung issues recall for Galaxy Note 7 after battery fires www.reuters.com

Samsung Electronics Co Ltd (005930.KS) will replace all Galaxy Note 7 smartphones equipped with fire-prone batteries and halt sales of the flagship product in 10 markets, a devastating blow for what had been a revival in the firm's mobile business.

Koh Dong-jin, head of the South Korean company's smartphone business, spoke at a news conference jam-packed with reporters and cameras where he expressed regret at the recall, which will affect markets including South Korea and the U.S. - but not China, where models feature a different battery.

The announcement on Friday comes just over two weeks since the premium device's launch, and follows reports of the 988,900 won ($885) phone igniting while charging.

The executive, who declined to comment on the number of phones needing replacement, said Samsung had sold 2.5 million of the premium devices so far. The manufacturer plans to replace not only phones with faulty batteries sold to consumers, but also retailer inventories and units in transit.

"I can't comment on exactly how much the cost will be, but it pains my heart that it will be such a big number," Koh said.

The scale of the recall is unprecedented for Samsung, which prides itself on its manufacturing prowess. While recalls in the smartphone industry do happen, including for rival Apple Inc (AAPL.O), the nature of the problem for the Galaxy Note 7 is a serious blow to Samsung's reputation, analysts said.

Analysts said the firm must act quickly to minimize damage to its smartphone recovery, after a string of product successes had reversed a fall in market share at the world's biggest smartphone vendor.

The firm has said it aimed for the Note 7 to maintain strong sales momentum in the second half of the year against stiffening competition from the likes of Apple Inc (AAPL.O), which is widely expected to release its latest iPhone next week.

"I am concerned more about a potential reduction in sales than recall costs," said analyst Jay Yoo at Korea Investment & Securities. "The recall is likely to be a blow to earnings."

Samsung said new sales of the Note 7 in affected markets would resume after it deals with replacements, a process it expects will begin in about two weeks. The firm would extend refund periods for affected customers and offer exchanges for other Samsung phones, Koh said.

Investors sold Samsung shares after the delay announcement on Thursday, stripping about $7 billion from the firm's market value. Sentiment recovered somewhat in Friday trade as the shares rose 0.6 percent compared with 0.3 percent in the broader market .KS11.

Credit Suisse said a recall or major shipment delays could wipe 1.5 trillion won ($1.34 billion) from Samsung's 2016 operating profit estimate of 30.2 trillion won in an "absolute worst case" scenario.

But the brokerage said that scenario was unlikely, as it expected Samsung to resolve problem before the fourth quarter of the year.

HI Securities analyst James Song said the replacement costs may be somewhat limited as Samsung could recycle components of the recalled phones save the battery.

"It is clever for Samsung to replace the affected models, not offering fixes. That helps enhance consumer confidence and help reduce potential falls in future sales," he said.

Hyundai Securities also said in a report on Thursday that the Note 7 problem should be resolved within "a few weeks". The brokerage retained its third-quarter operating profit forecast of 8.5 trillion won.

Samsung's mobile division accounted for about 54 percent of the firm's January-June operating profit of 14.8 trillion won.

($1 = 1,117.4300 won)

(This version of the story has been corrected to add dropped text in the second paragraph)

(Reporting by Se Young Lee; Additional reporting by Hyunjoo Jin; Editing by Stephen Coates and Christopher Cushing)

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Uniqlo opens regional flagship store in Singapore www.nhk.or.jp

Japan's casual clothing chain Uniqlo has opened one of its biggest Southeast Asian stores in Singapore.

About 2,000 shoppers lined up before Friday's opening of Fast Retailing Company's regional flagship store.

The 2,700-square-meter outlet is one of Uniqlo's largest stores in Southeast Asia. It stocks 500 products, nearly as many as the company's Ginza flagship outlet in Tokyo.

A woman in her 20s who has often shopped at other Uniqlo branches said she's surprised with the size of the new shop. She added that she's glad to see items that she cannot find at other stores.

Uniqlo operates more than 120 outlets in 5 Southeast Asian countries, including Thailand and Indonesia. The new Singapore store is its first international flagship outlet in the region.

Fast Retailing Chairman Tadashi Yanai said his company wants to triple its sales in Southeast Asia over the next 5 to 10 years. Economic growth continues in the region.

 
 
 
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World Bank issues SDR bonds in China www.nhk.or.jp

The World Bank has issued landmark bonds denominated in so-called special drawing rights, or SDR, for the first time in China. The move is aimed at pushing the country's financial markets toward greater openness.

The SDR is a reserve currency administered by the International Monetary Fund. The value of SDRs is based on the US dollar, the euro, the pound, the yen and, starting next month, China's yuan.

The bonds' total value is to be 500 million SDRs, or nearly 700 million dollars. They are to be traded in yuan on the Chinese interbank market.

A group jointly set up by financial institutions in China and foreign banks including Japan's Tokyo-Mitsubishi UFJ, is to handle the bonds.
By issuing the bonds, the World Bank hopes to offer more means to secure funds, and urge China to integrate into the global financial system.

An NHK reporter says China is keen to show its willingness to work toward financial reform, as the country is to host its first G20 summit next Sunday in Hangzhou.

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