1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     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    

Events

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

NEWS

64x64

Honda to launch revamped NSX supercar in Japan www.nhk.or.jp

Honda Motor says it will revamp its luxury sports car NSX for release in Japan next year.

The company's first new model in Japan in about 10 years will hit the market in February. Prices start at around 240,000 dollars.

The vehicle is produced in the US state of Ohio. It has a hybrid system with a 581-horsepower engine and 3 electric motors to achieve powerful acceleration and high fuel economy.

After it debuted in 1990 in Japan, the NSX, with its powerful engine and aluminum body, became popular. But production was halted due to an economic slump and tighter environmental regulations.

Honda President Takahiro Hachigo says the automaker's principle is to continue making daily-use cars and those that focus on the joy of driving. He says reintroducing the NSX will help make the Honda brand more attractive.

Sports cars are becoming popular among young people and veteran drivers.

Competition in the market is heating up. Honda's domestic rivals Toyota and Nissan have also launched new models.

...


64x64

Scientists: Earth-like planet discovered www.nhk.or.jp

A group of scientists say they have discovered a potentially habitable planet around the nearest fixed star to Earth. The planet is about four light years away.

The group led by an astronomer at Queen Mary University of London used an observatory in Chile to study the fixed star, Proxima Centauri, first from 2000 through 2008 and again this year.

The team found that the planet 1.3 times the mass of Earth is orbiting the star. The group said the distance from Proxima Centauri allows liquid water to exist on the surface of the planet.

Numerous planets have been discovered beyond our solar system. But this is the first time that a planet similar to Earth has been found circling the star closest to Earth.

The team said currently available observation equipment is insufficient to establish whether the planet has water, an atmosphere, and other elements necessary for life.

Astronomers from the group hope a new space telescope, to be launched by the US space agency NASA next year or later, will help determine the existence of life on the planet.

...


64x64

Guangzhou Auto starts building 240-mln-USD Xinjiang plant www.xinhuanet.com

URUMQI, Aug. 24 (Xinhua) -- Guangzhou Automobile Group Co., Ltd on Wednesday started construction of its assembly plant in northwest China's Xinjiang Uygur Autonomous Region.

With an investment of 1.6 billion yuan (240 million U.S. dollars), the plant has a designed annual production capacity of 100,000 cars and will create 1,500 jobs.

Located in the Urumqi economic and technological development zone, the plant is scheduled to begin production of gasoline and electric cars as early as the end of 2017, said Zeng Qinghong, general manager of Guangzhou Automobile Group.

Zeng said the plant will supply western Chinese regions and central Asian countries.

Zhou Yawei, a member of the Standing Committee of the Guangzhou Municipal Committee of the Communist Party of China, said the investment answers the central government's call to help Xinjiang's development and push forward the Belt and Road Initiative.

 
 
 
...


64x64

China oil giants suffer from dropping crude prices www.xinhuanet.com

BEIJING, Aug. 24 (Xinhua) -- Despite rising output, China's major oil producers posted lackluster performance in the first half of the year weighed upon by dropping global crude prices.

China National Petroleum Corporation (CNPC) registered a nearly 97.9 percent decline in its net profit, making only 531 million yuan (almost 80 million U.S. dollars), while China National Offshore Oil Corporation (CNOOC) saw a loss of 7.74 billion yuan.

However, the oil yields of CNPC and CNOOC rose 1.7 percent and 0.6 percent year on year, respectively.

Another oil giant, Sinopec Group has yet to release its half-year financial report.

...


64x64

German business confidence falls post-Brexit, says Ifo www.bbc.com

Business confidence in Europe's biggest economy, Germany, has fallen unexpectedly after the UK Brexit vote, according to a closely watched survey.
The Ifo business confidence index, based on about 7,000 company responses, fell to 106.2 points for August from 108.3 in July.
It was the steepest monthly fall in more than four years and took the index to its lowest since December 2014.
Despite the gloom, the euro was up slightly against the pound and dollar.
'Delayed reaction'
The latest drop follows a much smaller decline in confidence in July immediately after the UK voted to leave the EU.
Economist Carsten Brzeski at ING-DiBa said the ongoing decline "suggests that German businesses have suddenly woken up to Brexit reality".
"It is not the first time that the Ifo reacts with a delay of one or two months to global events,'' he said, adding that at present, the German economy remained in a "virtuous circle".
Across the sectors it examines, the Ifo found confidence had fallen in all but construction and services.
"The German economy has fallen into a summer slump," Ifo president Clemens Fuest said.
Other official figures released earlier this month showed the German economy grew 0.4% in the second quarter compared with the previous three-month period.
That was a slower pace than the 0.7% growth in the first quarter, but double what economists had expected.

...


64x64

Mongolia might harvest wheat to fully provide country with flour www.montsame.mn

Ulaanbaatar /MONTSAME/ At a cabinet meeting held Wednesday, a preliminary balance of harvest for this autumn was presented.

According to the balance, Mongolia is expected to harvest 501.0 thousand tons of grain, of which 482.1 thousand tons of wheat, 174.7 thousand tons of potatoes, 117.5 thousand tons of vegetables, 32.5 thousand tons of oil plants, and 43.4 thousand tons of fodder plants.

It has been estimated that 320 thousand tons of wheat is required for producing flour which fully provides the country’s needs a year. By the balance, the country is possible to provide the domestic needs with flour produced from wheat to be harvested in this autumn.

The Ministry of Food, Agriculture and Light Industry reported that six thousand tons of fuel is expected to be needed for harvesting works.

...


64x64

Asia Foundation wants cooperation to fight against corruption www.gogo.mn

Head of Security and Foreign Policy Standing Committee J.Enkhbayar, Head of State Structure Standing Committee N.Enkhbold and MP A.Undraa received today the representatives of Asia Foundation, a nonprofit international development organization. 
During the meeting, the parties have exchanged views on projects and programs to be implemented jointly by the Asia Foundation, State Great Khural, the Government and NGOs. Currently, Asia foundation is working in 18 countries while operating in Mongolia since 1990 to strengthen democracy, promote good governance and transparency, empower women, reduce corruption and focus on environmental restoration.

Representatives expressed their willingness to expand cooperation in strengthening democracy, and good governance while fighting against corruption.

The meeting was attended by Meloney Lindberg, The Asia Foundation’s country representative, Suzanne E. Siskel ,Executive Vice President and Chief Operating Officer, Gordon Hein, Senior Vice President, Programs, Sagar Prasai, Country Representative, India, Dianna Fernandez, Deputy Country Representative, Mongolia.

...


64x64

Washington warns Brussels over plan to demand billions in unpaid taxes from Apple www.rt.com

The US Treasury Department has threatened possible retaliation if the European Commission pursues American companies like Apple, Amazon and Starbucks over tax avoidance.
The EU has been investigating whether Apple’s tax dealings in Ireland, which allowed the company to pay very little income tax for its European earnings, violated European rules. Apple is suspected of using loopholes in tax laws and paying just two percent tax in Ireland, well below the official 12.5 percent. The decision is expected to be announced next month.

The Obama administration warned the EU that the investigation could “create an unfortunate international tax policy precedent.” According to the document from the US Treasury, Brussels is taking on the role of a “supranational tax authority” overriding the tax codes of its member countries.

“This shift in approach appears to expand the role of the Directorate-General for Competition beyond enforcement of competition and state aid law . . . into that of a supranational tax authority that reviews member state” decisions on corporate tax, it said.

The US also criticized Brussels for setting unfair and “disturbing” precedents and singling out US companies.

Apple has been accused of funneling billions of dollars into Ireland, known for its lucrative tax rates. JP Morgan, which is working for Apple, said the tech company could face a bill for $19 billion in a worst-case scenario.

Amazon and McDonald's are also being investigated by the EU, while Starbucks faces back taxes of up to €30 million.

...


64x64

PayPal and FIS team up for careless ATMs www.businessinsider.com

This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here.
 
Earlier this year, Fidelity Information Services (FIS) and Payment Alliance International (PAI) teamed up to bring Cardless Cash, which allows users to access ATMs via their mobile devices, to thousands of US locations.
 
That functionality will be enabled by PayPal-owned Paydiant, according to a PayPal blog post. Now, mobile banking users at banks including BMO Harris will be able to use their phones to access ATMs.
 
Mobile-driven branch banking helps engage consumers without negatively impacting banks.
 
Innovations like cardless ATMs help keep customers engaged. Banks are cutting branches to lower costs, but consumers are still using ATMs on a regular basis — 44% of millennials would be unwilling to give up cash entirely, according to a BI Intelligence study. Features like Cardless Cash allow banks to give mobile-oriented younger consumers the opportunity to use their phone while accessing in-person banking services. In addition, Cardless Cash shortens transaction times, thereby improving efficiency and resolving pain points associated with branch banking.
But they also keep costs to banks low. Banks can build Cardless Cash into their own mobile banking apps. And it doesn't require ATM hardware upgrades —a potentially expensive and time-consuming process. And on top of that, Cardless Cash helps reduce ATM fraud that comes from skimming or “shoulder surfing” by allowing customers to input secure data on a better-protected device. That’s critical as ATM fraud, which grew by 546% year-over-year in 2015, continues to rise.
For PayPal, the FIS-Paydiant partnership helps them meet a key goal: addressing emerging customer needs in new ways. PayPal, which traditionally focused on enabling customers to make online payments, has been working to build out a payments ecosystem and moving into a wide array of payments-related areas, including remittances, peer-to-peer (P2P) payments, and in-store mobile payments.
 
Cardless Cash likely fits into the firm’s push to offer users flexible options skewed towards mobile and other high-growth areas. And this could continue the company’s gains — PayPal processed $86.2 billion in total payment volume in Q2, and saw increases in average quarterly transactions per account.
 
This partnership is part of the broader move toward digital banking, particularly among millennials who are walking into their banks' traditional brick-and-mortar branches less often than ever before.
 
This generation accounts for the greatest share of the U.S. population at 26% and the employed population at 34%, so it's easy to see why their behaviors and preferences will have a profound effect on the future of the banking industry, particularly with regard to the way banks interact with their customers.
 
Third parties are expanding their role in providing services that consumers use to manage their money. And the more that role grows, the more it will disrupt the relationship between banks and their customers.
 
To paint a clearer picture of the future of the banking industry, John Heggestuen, managing research analyst at BI Intelligence, Business Insider's premium research service, surveyed 1,500 banked millennials (ages 18-34) on their banking behaviors and preferences — from their preferred banking devices, to what banking actions they perform on those devices, to how often they perform them.
 
All of that rigorous research led to an essential report entitled The Digital Disruption of Retail Banking that dives deep into the industry and details what its future will look like.
...


64x64

Google punishes sites with pop-up adverts www.bbc.com

Google is to penalise websites that feature intrusive pop-up adverts.
It is updating the algorithms used to rank its search results so that offending pages are more likely to get lower placings.
The change is due to come into effect on 10 January.
Google makes much of its money from placing ads on the mobile web. One expert said the company wanted to give users one less reason to use ad-blockers or search within apps instead.
For its part, Google said the move should make using some of its results less frustrating.
"Pages that show intrusive interstitials [elements that cover the content] provide a poorer experience to users than other pages where content is immediately accessible," it blogged.
"This can be problematic on mobile devices where screens are often smaller."
Punishing pop-ups
The California-based company gave three examples of practices it wanted to discourage:
pop-ups that covered part of the main content when the user clicked on to a page
an intermediary webpage that had to be dismissed before the main content could be seen
an ad that filled the web browser's screen so users had to scroll down "below the fold" before they could see the material they wanted
Google will, however, make some exceptions.
Pop-ups that alert readers to the use of cookies are still permissible, for example, as are ones that require log-in details to let visitors get behind a paywall.
"Google is one of the largest advertising companies in the world, but it's in a very different position to Facebook, Snapchat and other global media consumption apps," said Daniel Knapp, senior director of advertising research at the IHS consultancy.
"Google is still very reliant on the desktop and mobile web to make money, and it's much more difficult to clean up that experience than the native app environments.
"That's why it needs to tighten the screws on everyone with this crackdown."

...