1 TOP 10 RICHEST PEOPLE IN MONGOLIA 2018 MONGOLIAN BILLIONAIRES WWW.ELITESHARED.COM PUBLISHED:2018/07/22      2 IRKUTSK REGION'S EXPORT OF CHICKEN EGGS TO MONGOLIA ALMOST DOUBLED WWW.RUSEXPORTER.COM PUBLISHED:2018/07/21      3 86 PERCENT OF ACTIVE ENTITIES IN MONGOLIA HAVE UP TO 9 EMPLOYEES WWW.GOGO.MN PUBLISHED:2018/07/20      4 MONGOLIA TAKES STEPS TO BOOST CASHMERE PRODUCTION WWW.NEWS.MN PUBLISHED:2018/07/20      5 HIV INFECTIONS RISES TO 262 IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2018/07/20      6 FRONTCLEAR FACILITATES A LANDMARK TRANSACTION WITH STATE BANK MONGOLIA, EBRD AND ING BANK WWW.KTVN.COM PUBLISHED:2018/07/20      7 MONGOLIA COULD BE RIO'S COPPER GROWTH KEY WWW.MINING-JOURNAL.COM PUBLISHED:2018/07/20      8 FOREIGN OFFICE MINISTER MARK FIELD VISITS MONGOLIA WWW.GOV.UK PUBLISHED:2018/07/20      9 ZOO-BRED PRZEWALSKI’S HORSES ARE FREED INTO THE PLAINS OF MONGOLIA WHERE THEIR ANCESTORS ROAMED FOR CENTURIES HAVING BATTLED BACK FROM JUST ONE SURVIVING WILD ANIMAL WWW.DAILYMAIL.CO.UK PUBLISHED:2018/07/20      10 MONGOLIAN AND CHINESE JOINT VENTURE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2018/07/20      ТАВАНТОЛГОЙ-ЗҮҮНБАЯН ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫГ БАРИХ АЖИЛ ЭХЛЭЭД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/22     ШИНЭ УРГАЦ ГАРЧ ЭХЭЛСЭН Ч НОГООНЫ ҮНЭ ӨНДӨР ХЭВЭЭР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/20     АВТОЗАМД ҮҮССЭН ХОХИРЛЫН ХЭМЖЭЭ 1,3 ТЭРБУМ ТӨГРӨГТ ХҮРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/20     BURBERRY БРЭНД 32.6 САЯ АМ.ДОЛЛАРЫН ҮНЭ БҮХИЙ БАРАА БҮТЭЭГДЭХҮҮНЭЭ ШАТААЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/20     ИРГЭДЭЭС ЦУГЛАСАН ХАНДИВААР ГАЛ УНТРААХ ТОНОГ ТӨХӨӨРӨМЖ АВЧЭЭ WWW.DNN.MN  НИЙТЭЛСЭН:2018/07/20     ГААЛИЙН БАЙГУУЛЛАГЫН ТӨСӨВТ ТӨВЛӨРҮҮЛСЭН ОРЛОГО 1.2 ИХ НАЯД ТӨГРӨГТ ХҮРЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ИХ БРИТАНИЙН АЗИ НОМХОН ДАЛАЙН БҮС НУТГИЙГ ХАРИУЦСАН САЙД МАРК ФИЙЛД МХБ-Д ЗОЧИЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ЭКО АЛТНЫ УРАМШУУЛЛЫГ МОНГОЛБАНК ОЛГОХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/20     ЯМАШИТА МАМОРҮ: МОНГОЛД ДУНДАЖ ЦАЛИНГ ТЭТГЭВРИЙН ХЭМЖЭЭТЭЙ УЯЛДУУЛЖ ТООЦОХ МЭРГЭЖЛИЙН БАГ ХЭРЭГТЭЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/20     ХЯТАД УЛС БИЗНЕСИЙН ОРЧНОО САЙЖРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/19    

Events

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

NEWS

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Volkswagen decides not to sue South Korea over sales ban www.reuters.com

Volkswagen (VOWG_p.DE) decided against suing South Korea which last month suspended sales of most of its models and slapped a fine of 17.8 billion won ($15.93 million) on the German carmaker.
 
Instead, Volkswagen will try to achieve certification for the affected models and resume sales quickly rather than taking on a lengthy legal process, a spokesman for Volkswagen's South Korean unit said.
 
Last month, the government revoked certification for 80 model variants of VW, Audi and Bentley vehicles on grounds that the German automaker fabricated certificates of vehicle emissions and noise-levels.
 
At that time, Volkswagen described the ruling as "most severe" and said it would consider a legal challenge.
 
Volkswagen's sales slumped 40 percent to 12,888 vehicles from January to July in South Korea, after jumping 17 percent last year, in the wake of its emissions-test cheating scandal.
 
Nissan Motor's (7201.T) South Korean unit has filed a lawsuit over claims by the environment ministry that it had cheated on emissions with its Qashqai diesel sport utility vehicle.
 
($1 = 1,117.7000 won)
 
(Reporting by Hyunjoo Jin; Editing by Stephen Coates)
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Hershey shares tumble after Mondelez scraps takeover bid www.bbc.com

Snacks giant Mondelez International is abandoning its takeover bid for American confectioner Hershey after its $23bn (£18bn) offer was rejected.
The deal would have created the world's biggest maker of confectionary, but Hershey turned down the cash and stock offer in June.
Hershey shares tumbled by as much as 12% in late US trading on the news. Mondelez shares rose by almost 4%.
Mondelez brands include Cadbury chocolate and Trident chewing gum.
Its chief executive Irene Rosenfeld said the board was "disappointed with the outcome" but had decided there was "no actionable path forward toward an agreement".
"Our proposal to acquire Hershey reflected our conviction that combining our two iconic American companies would create an industry leader with global scale in snacking and confectionery and a strong portfolio of complementary brands," she said in a statement.
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China plans to produce its own aircraft engines www.rt.com

In an effort to wean itself off foreign suppliers, Beijing has launched the country's first aircraft engine manufacturer for the domestic market.“We will try to find a path along which we can make independent innovation in conducting fundamental research, making breakthroughs in key technology and producing strategic aircraft engines,” said Liu Tingyi, President of the Chinese Aeronautical Establishment, as quoted by Chinese state media.
 
China’s cabinet, Beijing municipal government, along with the state-owned Aviation Industry Corporation of China and Commercial Aircraft Corp of China has invested into the new Aero-Engine Corporation of China (AECC).
 
The new enterprise, which will reportedly have 50 billion yuan ($7.5 billion) in registered capital and 96,000 employees, will focus on developing both military and commercial jet engines.
 
Founding the company was a “strategic move” to make China an aviation power, according to President Xi Jinping.
 
China is manufacturing planes, but has been struggling for decades to build its own jet engines that could meet global requirements and increase China’s military power.China's air force imports Russian-made engines. Chinese commercial aircraft, the narrow-body C919, is powered by engines produced by a US-French joint venture, while engines for the ARJ21 airliner are made by General Electric.
 
The establishment of AECC will help China reduce its reliance on foreign producers and potentially develop a self-sufficient aerospace sector to meet the requirements of domestic commercial and military aviation.
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Top German official: EU-U.S. free trade talks have failed www.cnn.com

President Obama's free trade deal with Europe is going nowhere, a top German politician has said.
"The negotiations with the U.S. have de facto failed," Sigmar Gabriel said during an interview with German television ZDF.
Gabriel is Germany's minister for Economic Affairs and Energy and also deputy to Chancellor Angela Merkel.
The Trans-Atlantic Trade and Investment Partnership (TTIP) was meant to be one of Obama's legacies, but talks with the European Union have stalled as opposition to the deal grows.
Gabriel said he was a supporter of free trade because German exporters, large and small, would benefit but such a deal could not be done "at any price."
The deal was supposed to span Europe and the U.S., covering more than half of the world's economic output and 800 million people. It has been in the works since June 2013 and Obama's administration is still hoping to reach an agreement before the president leaves office in January.
But the negotiations have been moving at glacial pace. The 14th round of negotiations wrapped up in July, without a significant breakthrough on the most problematic issues.
"We Europeans cannot subject ourselves to American demands, there's no movement there," Gabriel said.
The European Commission, which is leading the negotiations on behalf of EU states, insists a deal is still possible by the end of 2016.
"The ball is rolling right now and the Commission is making steady progress...provided the conditions are right, the Commission stands ready to close this deal by the end of the year," said Margaritis Schinas, the chief spokesperson of the European Commission.

But Schinas repeated a statement made by European Commission President Jean-Claude Juncker two years ago that officials would not "sacrifice Europe's safety, health, social and data protection standards or our cultural diversity on the altar of free trade."
Supporters say the deal would create more than a million jobs. The European Commission says it would be worth 545 euros ($620) to each European citizen every year.
But more than 3.2 million people have signed a petition to stop TTIP, and another EU trade deal with Canada.
They are angry that the talks are being held in secret. The TTIP draft has been kept under wraps -- which is not unusual for big trade agreements. WikiLeaks has offered 100,000 euros ($114,000) for the documents.

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European labor unions and pressure groups argue the deal will give too much power to big U.S. corporations, because it would make it easier for them to sue governments over laws they claim hurt their business.
Opponents also say the deal could lead to more privatization of public services, including education and healthcare. European Commission says these sectors will not be included in the agreement, but leaks from the negotiations suggest the U.S. is pushing hard for access.
Many in Europe are also worried the deal could lead to a watering down of Europe's existing regulations on food safety and environmental protection, which are often a lot stricter than in the U.S.

Opposition to TTIP is also growing in the U.S. Republican presidential nominee Donald Trump has repeatedly criticized free trade agreements, including NAFTA and the Trans-Pacific Partnership, saying they are "an attack on America's business."
Hillary Clinton backed big free trade agreements when she was Secretary of State, but she too is now voicing concerns.

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Fukushima nuclear plant prepares for typhoon www.nhk.or.jp

The operator of the troubled Fukushima Daiichi nuclear power plant is preparing for the powerful Typhoon Lionrock.

Tokyo Electric Power Company says on Monday workers secured electric cables and hoses.

TEPCO says on Tuesday it will suspend work with cranes and other operations at the plant's port, which could bear the brunt of strong winds and waves. Depending on weather conditions, the firm may also call off outdoor work in other areas.

It says when the most recent typhoon approached last week, heavy rain caused underground water levels to rise and threatened to flush contaminated water into the harbor.

Workers are arranging pumps to draw up more ground water, and setting up additional pumps at wells used to observe water levels.

There were concerns in the past that a downpour brought by a typhoon could cause contaminated rain water to flow through a drainage channel into the ocean.

To address these fears, TEPCO rerouted the drainage system into the plant's inside port. It also raised the levels of barriers around tanks that store tainted water.

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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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