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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Team creates model of highly fuel-efficient engine www.nhk.or.jp

Researchers at a Japanese university say they've developed a prototype of a car engine that would be drastically more fuel-efficient than anything on the market.

The team, led by Waseda University Professor Ken Naitoh, says its calculations show the engine would have a heat efficiency ratio as high as 60 percent, nearly double that of conventional engines.

Team members say by injecting air and fuel into the combustion chamber from multiple directions at sonic speed, they can concentrate the fuel for burning in one spot. That means heat is less likely to escape, which improves thermal efficiency.

The researchers say they conducted tests on a prototype 30-cubic-centimeter engine, and obtained results that matched their calculations.

Professor Naitoh says representatives from about 10 automakers have already visited their lab to see the new technology.

He says the engine could be used in small power generators in homes, as well as in aircraft and rockets.

But he says it will be 5 to 10 years before the technology is ready for practical use.

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Uber suspends services in Abu Dhabi www.bbc.com

Taxi-hailing company Uber has suspended its service in Abu Dhabi, the capital of the United Arab Emirates.
Rival service Careem has also put its service there on hold, after some of its cars were stopped by authorities.
Uber, which has been operating in the Emirates since 2013, did not explain why it had suspended its service, but did say the move was "temporary".
An Emirates newspaper, The National, reported that as many as 50 drivers had been arrested over the weekend.
The report quoted one industry source as saying there was confusion as to why the drivers had been detained.
In a statement Uber said: ""This is a temporary suspension and we will let you know of any further updates."
Both Careem and Uber said that services in neighbouring Dubai were operating as normal.
Uber has been investing heavily in the Middle East, helped by a recent $3.5bn investment from Saudi Arabia's Public Investment Fund.
But the company's international expansion has been hampered by legal battles:
In the UK two drivers have taken the company to an employment tribunal, saying that they should be offered holiday and sick pay
In Taiwan Uber is facing a ban after officials said the firm was not operating lawfully
The company also sold its business in China earlier this month.
Uber's service allows customers to book journeys and pay via a smartphone app.
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“Learning from Democratic Transitions” Forum completes www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Capital city of Mongolia has successfully completed organizing the Annual Democracy Forum of 2016 at home on August 25 and 26. This year’s “Learning from Democratic Transitions”- themed forum attracted more than a hundred participants from Mongolia and other countries, sharing lessons from their own democratic transitions.
 
As Chair of the Council of Member States of International IDEA in 2016, Mongolia hosted the Annual Democracy Forum in collaboration with International Institute for Democracy and Electoral Assistance (IDEA) and with the Non Aligned Movement Centre for South-South Technical Cooperation (NAM CSSTC).
 
The participants shared their opinions on the lessons from the democratization processes, solutions of safety during the democratic transitions, ways of strengthening coordination between the democratic political leaders and civil movements, ensuring women’s involvement and representation, participation, role and contributions of international organizations.
 
In the closing speech, the Vice Minister of Foreign Affairs B.Battsetseg extended gratitude to all representatives from overseas and home country, special thanks to the youth, and pledged more effort on increasing the women representation in democracy.
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China's businesses may save nearly $23 billion a year under new measures: think tank www.reuters.com

Companies in China may save up to 150 billion yuan ($22.5 billion) a year if they are allowed to contribute less to employees' social security and housing plans, a research institute at the top economic planning agency said on Monday.
 
China aims to cut financing, labor, energy and logistics costs and reduce the annual tax burden for firms over the next few years, the government said last week, as policymakers try to offset the impact of a prolonged economic slowdown.
 
Businesses may save more than 100 billion yuan annually as the government moves to reduce the amount companies need to pay for employees' social security policies, wrote Guan Bo, a researcher at the Social Development Research Institute, which is part of the National Development and Reform Commission (NDRC).
 
Businesses may save an additional 40 billion yuan a year as the amount they need to contribute to employees' housing funds is reduced as well, Guan wrote.
 
Rising business costs have been cited by some economists as one of the reasons behind a sharp slowdown in private investment in China, which is leaving the economy more reliant on the bloated and more inefficient state sector.
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Barrick signs on to Venezuela gold push as oil sinks economy www.mining.com

Barrick Gold Corp. agreed to form a joint venture in Venezuela, according to state television, as President Nicolas Maduro turns to mining as a way to boost one of the fastest-shrinking economies in the world.
 
The world’s biggest producer of the precious metal was among several companies to sign letters of commitment for gold-mining ventures during a ceremony held at the presidential palace in Caracas Friday. The government would take a 55 percent stake in the proposed Barrick venture, Maduro said.
 
“At the invitation of the government, we intend to review information pertaining to mining opportunities in the country,” Andy Lloyd, a spokesman for Toronto-based Barrick, wrote in an e-mailed response to questions.
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Chinese mark on Rio continues to glow www.chinadaily.com

The Rio 2016 Olympic Games are history, but Chinese companies have left a mark on them that will shine for a long time to come.
 
The numerous mascots, uniforms, security apparatus and telecommunications equipment were all "Made in China".
 
The vivid mascots of the Olympic Games, Vinicius and Tom, became hot commodities after they were put on sale.
 
These mascots were, and are still, available in various sizes as plushies, which rapidly became favorites in shopping baskets in Brazil and around the world.
 
Behind these is a Chinese company, Honav, which is an official franchise firm of the International Olympic Committee.
 
Chen Shaoshu, president of Honav, said, "Honav became associated with the Olympics a long time ago, back in the 1996 Atlanta Olympic Games. We were manufacturers for Sydney 2000 and Athens 2004 before being signed up for Beijing 2008 as an official franchise company."
 
In Rio, Chen was preoccupied by the huge boom in demand for his products, as "sales were not good prior to the Games".
 
Carlos Nuzman, president of the Rio 2016 Olympic Games, has been very satisfied with Honav, calling it a company known for good quality, creative design and the sustainable development of its products.
 
Chen said that Honav designed over 1,110 products for Rio 2016, including over 5 million units. However, he explained that "tourists, spectators and athletes bought products with a speed we had not imagined. Certain products were already on limited sales every day".
 
Inside the main entrance of the Rio 2016 headquarters, a banner proudly displayed the Olympic sponsors, including 361-degrees and Gree.
 
361-degrees had supplied uniforms for the Rio 2016 Organizing Committee, as well as for a number of delegations, including Greece and South Africa. Gree, on the other hand, installed all the air conditioning in venues.
 
The 361 sports clothing brand became an official supplier for Rio 2016 in October 2013, with all volunteers, officials and employees of the Olympic and Paralympic Games wearing its gear.
 
Gree celebrated its entry into the Olympic Family in July 2016, with its air conditioners being set up in venues, the Olympic Village, the Media Village, official hotels and airports.
 
What's more, some official equipment for judo, taekwondo, wrestling, athletics and cycling events was provided by TaiShan Sports.
 
Bian Zhiliang, president of TaiShan Sports, explained that the standard for Olympic sports equipment used to always be according to European rules. "This time, equipment for the likes of judo, taekwondo and wrestling were of a Chinese standard."
 
Chinese company DHS provided the Olympic table tennis tables while Tinsue provided the floors for this event, showing China's expertise in the sport.
 
Close to the famous Maracana Stadium in Rio, Chen Yongjian, director of Nuctec in Brazil, was always ready to respond to any need for maintenance or repairs on any of his security equipment.
 
Chinese firm Nuctec has provided all security equipment, including X-ray and body scanners, at the entrances of Olympic zones, such as Maracana, Deodoro, Barra da Tijuca and Copacabana.
 
"During the 2014 soccer World Cup, the quality of Nuctec equipment was recognized by Brazil, which decided to continue using our products for the Olympics," Chen said.
 
Besides Nuctec, China's Dahuatech won a tender to supply over 80 percent of all security cameras in stadiums. Dahuatech ended up providing close to 2,000 high-definition cameras, helping security personnel with their inspections.
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The laptop's godfather dies at age 75 www.cnn.com

It's easy to take the modern laptop for granted. Hundreds of millions sell every year. The most affordable models are even less expensive than high-end smartphones. It's near impossible to walk into a coffee shop, workplace or college lecture hall without seeing a laptop.
Yet a generation ago, a computer that opened up to reveal a keyboard and screen was a radical and tremendously expensive idea.
In 1982, British engineer John Ellenby made waves when his company, Grid Systems, released the Compass, a clamshell-like computer. Ellenby died August 17 at the age of 75, according to his son Thomas, who spoke with CNNMoney. The New York Times first reported Ellenby's passing.
Today, the Compass's appearance generates snickers. It was heavy enough to be curled like a dumbbell. It had a foldout leg that propped up the back of the machine and helped prevent it from overheating. The Compass's screen resembled a blurry postage stamp. It cost a fortune -- $8,150 -- which is $20,324 in today's dollars.

While too expensive for the average person, it was popular with government agencies such as NASA.
Ellenby was ahead of his time. In the early '80s, desktop computers were only just starting to appear, but Ellenby was already on to the next trend. Steve Jobs didn't first unveil Apple's Macintosh -- the block-like desktop computer -- until two years after the Compass first arrived.
And it wasn't until May 2005 that laptops surpassed desktop computers in sales.
Ellenby's visionary nature reemerged later in his life. He cofounded GeoVector in the 1990s, which researched augmented reality, where computers overlay information on top of what our eyes see naturally.
Ellenby lived just long enough to see the breakout success this summer of Pokemon Go, which relies on augmented reality. Once again, Ellenby's instincts were proven right.

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Herbalife may have misled investors, SEC on impact of FTC deal, one short-seller says www.reuters.com

After U.S. multi-level marketing company Herbalife (HLF.N) settled a probe of its sales practices with the U.S. Federal Trade Commission last month, top executives assured investors that the company would be able to thrive under the new rules.

The consumer protection agency had questioned the company's sales methods.

Billionaire investor William Ackman in 2012 claimed the company was running a pyramid scheme, recruiting members with a promise of payment for enrolling others in distribution, rather than depending on the actual sale of its nutritional supplements and weight management products.

In its July 15 ‎settlement Herbalife agreed to restructure its U.S. business so distributors are rewarded for sales rather than for recruitment of sales agents and it agreed to pay a $200 million fine.

But Herbalife's filings with the U.S. Securities and Exchange Commission painted a much less optimistic picture than its presentation to analysts and investors, according to a private investor who flagged the differences to the SEC this month.

Matthew Handley, an investor based in Lakewood Ranch, Florida alleged Herbalife made "purposefully deceptive statements" in its Aug. 3 quarterly earnings conference call and regulatory filings.

Handley, who is betting Herbalife's stock price will fall, told Reuters about his outreach to the SEC and provided a copy of his letter to its whistleblower office.

"The transcript of the conference call, when compared directly against the actual language the company issued in their 10Q, depict a clear pattern of purposeful intent to deceive investors and the market," Handley wrote in the Aug. 16 letter.

"The things you say on the call and write in the filing have to match up, and I thought they just didn't," he later said in an interview with Reuters.

Because Herbalife's conference call transcript and its SEC filings are publicly available, securities law experts said the company probably did not violate the SEC's disclosure rules such as Regulation FD.

Corporate filings are often more legalistic and technical than what executives say during presentations to analysts and investors, when they may sound optimistic about the company's outlook, law professors and private lawyers noted.

But such presentations are usually highly scripted, with companies trying to ensure oral statements are not inconsistent with their filings, and the difference in tone and substance in Herbalife's case is noteworthy, securities lawyers said.

"Securities laws say that you cannot lie," said Yale law professor Jonathan Macey. "Reading these two documents (the filing and transcript of the conference call), would suggest they've changed their point of view," he added.

Herbalife spokesman Alan Hoffman declined repeated requests from Reuters for comment. Brian Lane, a partner at law firm Gibson Dunn, which vets Herbalife's disclosures, did not respond to a call or email seeking comment. Herbalife has disclosed inquiries from the SEC and other government authorities in the past.

SEC spokesman John Nester also declined to comment.

COMPLYING WITH THE FTC

Herbalife hailed the FTC settlement as a victory for its business model as the FTC said the company may have deceived hundreds of thousands of people but stopped short of calling it a pyramid scheme.

In August executives assured analysts and investors on a conference call that Herbalife would suffer little financial damage from the settlement.

Chief Executive Michael Johnson said, "We have the greatest confidence in our ability to comply with the agreement and continue to grow our business in the U.S. and around the world."

Chief Financial Officer John DeSimone saw "minimal disruption to the business" and President Desmond Walsh also struck an optimistic tone, saying, "The most important thing is that we don't see any long-term impact in our business."

Herbalife's SEC filing was more circumspect though, saying the company does not currently expect the settlement to have a "long-term and materially adverse impact."

However, the filing also noted "there is no guarantee that we will be able to fully comply with the consent order" and that "the company's business and its member base, particularly in the United States, may be negatively impacted."

If Herbalife cannot comply with the consent order, "this could result in a material and adverse impact to the company's results of operations and financial condition," the filing said.

Herbalife also noted the settlement's effect "could be significant."

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BILLIONAIRES' TARGET

Herbalife has until next year to comply with the July 15 order from the Federal Trade Commission to restructure its U.S. business.

It is not clear whether other short sellers and investors will respond to Handley's accusations on inconsistency between the company's verbal optimism and its more cautious SEC filings, some experts said.

"If you invest in this company, you will want to know what the odds are of this FTC ruling screwing up their business," Yale Law School professor Macey added.

Herbalife's stock price has gone on a wild ride over the last four years when two billionaires began squaring off over its future. After seeing a high around $81.00 in January 2014, the stock fell to a low around $30.26 in January 2015 before recovering to close at $60.50 on Friday.

Hedge fund manager William Ackman, who called Herbalife a pyramid scheme, placed a $1 billion short bet but so far has suffered some losses as the stock climbed.

On Friday in a letter to investors, Ackman also noted differences between presentations to investors by Herbalife executives and the company's official quarterly filing. In his letter, Ackman wrote "management's latest commentary is a continuation of prior misrepresentations."

Ackman and Handley, who registered his complaints about Herbalife's communications with the SEC, both said they have never spoken to each other and reached their conclusions independently.

By contrast, in 2013 billionaire Carl Icahn expressed confidence in Herbalife, becoming its biggest shareholder and named directors to the board.

This week, Ackman and Icahn tangled anew when Ackman said an investment bank approached him to try and sell some of Icahn's shares, but on Friday, Icahn said he was buying shares, not selling.

A key institutional owner, Fidelity, sold some of Herbalife's shares in August, it said in a filing. Fidelity declined to make the fund manager available for an interview.

(Reporting by Svea Herbst-Bayliss; editing by Lauren Tara LaCapra, Nick Zieminski and Clive McKeef.)

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U.S. SEC paid $3.75 million to BHP Billiton whistleblower: report www.reuters.com

 
The U.S. Securities and Exchange Commission paid a BHP Billiton (BHP.AX) (BLT.L) insider $3.75 million for detailed information in an investigation into alleged bribery of Asian and African officials, the Australian Financial Review reported on Monday.
 
Citing legal sources, the newspaper report said it was the first time an employee of an Australian company had received a U.S. whistleblower bounty.
 
BHP last year settled the SEC case, paying $25 million to resolve charges it violated a U.S. anti-bribery law by failing to properly monitor a program in which it paid for dozens of foreign government officials to attend the 2008 Olympics in Beijing.
 
The Australian Financial Review said it did not spell out the evidence that the whistleblower disclosed because it wanted to protect the person's identity.
 
BHP Billiton said on Monday it had fully co-operated with the SEC inquiry and a subsequent investigation by the U.S. Department of Justice (DOJ).
 
"We are not aware of the involvement of any whistleblower as part of the SEC's or DOJ's investigation," BHP said in an emailed statement to Reuters.
 
"We respect and fully support protections for all whistleblowers and the importance of providing confidential avenues for reporting," the company said.
 
The world's biggest miner remains under investigation by the Australian Federal Police over the matter.
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Brother Law' to Cost Telecoms $154Bln – Report www.themoscowtimes.com

Russia's new anti-terror legislation is set to cost mobile phone networks 10 trillion rubles ($154 billion), the RBC news website reported Friday.
 
The new laws require communications companies to store customers’ messages, including photos and videos, for six months. Internet companies will also face a fine of up to 1 million rubles ($15,700) for not decoding users’ data at the request of Russia’s Federal Security Service (FSB).
 
Earlier estimates had placed the predicted cost to operators at 2.2 trillion rubles ($34 billion), but the real cost is likely to be higher, data storage company RCNTEC's general director Denis Neshtun said.
 
The cost to companies could be reduced if the demands placed upon them were lessened, but companies would still need to pay a significant amount toward the system's upkeep, he told RBC.
 
Russia's mobile phone operators have estimated that by the time the law comes into force in 2018, they will collectively be forced to handle and record 107,142 gigabytes every second, the Kommersant newspaper reported.
 
Oleg Fomichev, the deputy minister for economic development, said in July that the kind of data storage infrastructure needed to implement the new anti-terror legislation “didn't exist anywhere in the world.”
 
It is “very difficult to say” what timescale would be needed to have the necessary infrastructure in place, Fomichev said.
 
Russia's biggest mobile operators have written to the government, arguing that the new demands would force companies to increase tariffs and pay less in taxes.
 
Author of the legislation, ultraconservative lawmaker Irina Yarovaya, called the claims a “baseless” excuse to raise prices.
 
The legislation was signed into law by President Vladimir Putin on July 7. The new laws include restrictions on religious activity, an increase in the number of crimes for which children aged 14-17 can be prosecuted and criminalizes a failure to report terrorist activities to the authorities.
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