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

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Izuma Ushiyama: Mongolia has high potential to build solar power plant www.gogo.mn

11th Mongolia-Japan International Conference on Electric Power Transmission and Distribution Technologies and International Standardization is being held at the Energy School of the National University of Science and Technology. We deliver you the interview with Chairman of the Board of Ashikaga Institue of Technology, Ph.D., Izumi Ushiyama. 

-What energy technologies are able to be implemented in Mongolia according to the Japanese experience?
-According to the example of Japan, Mongolia has high potential to build solar power plant in renewable energy sector. 

-What is the theme of your presentation at the conference? 
-I will deliver presentation on global trend of using natural renewable energy, its experience and current condition. My topic will cover Mongolia too. 

-How is the possibility and terms to use solar energy in Mongolia? What is the first step Mongolia should take?
-Technology to build solar power plant has developed already. The key thing to consider is to find solution on connection to the central network. For instance, wind power plant need to be built in windy place. 

-What renewable energy policy is Japan maintaining? 
-Government of Japan has started implementing promotional pricing system in renewable energy sector since 2012. Government purchase renewable energy with high cost. 

As a result, renewable energy production reached 80 million kwh over the last three years. 

-How do you evaluate the global energy consumption?
-The most serous problem facing to the world's energy consumption is CO2 emissions. There are two solutions. First, nuclear power station and the second solution is to build renewable energy sources. 

However, Japanese experience show that nuclear power station is not the right solution. Thus, we should use renewable energy. 

R.Oyun

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Draft 2016-2020 governmental action program to be submitted to parliament www.montsame.mn

Ulaanbaatar /MONTSAME/ At its expanded meeting held Tuesday, the cabinet discussed a draft governmental action program for 2016-2020, and decided to submit it to parliament, reflecting proposals from local authorities.

This program has been worked out based on the Concept on Sustainable Development until 2030, the election program of the Mongolian People’s Party (MPP) and views from people, civil society organizations, contracts and documents.

Main objectives of the program are to revive the national economy which is in difficult situation in a short time, to support social sectors by accelerate the economic growth and to improve the people’s livelihood. The program also sets certain goals to empower the public service, to maximize professionalism of public servants, to make the public services quicker and more transparent and to strengthen the national security by fortifying the social trust.

The governmental action program has 350 clauses in four chapters. 

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Almost 28,000 workers affected by VW production problems www.rt.com

The biggest European car producer Volkswagen is facing production delays in a dispute with component suppliers. A week of production delays at the main Wolfsburg plant may cost VW up to €100 million in gross profits.“Production at several Volkswagen plants has been interrupted as a result of a halt in component deliveries by external suppliers,” said a statement from VW.

The automaker has urged seat producer CarTrim and ES Automobilguss, which makes cast iron parts for gearboxes, to continue supplying. The manufacturers want €58 million compensation from VW, saying its cancellation of a contract cost them tens of millions of euro. VW is refusing to compensate for the losses; the negotiations continued till late Friday and are expected to continue on Monday.

As a result of the supply problems, the car producer is cutting work hours at six of its plants.

“Although Braunschweig District Court has issued injunctions obliging the suppliers to resume deliveries, the suppliers have not as yet met their obligations. Volkswagen continues its efforts to reach an agreement with the suppliers,” the company said.

This has affected 10,000 workers at Wolfsburg, 7,500 in Emden, 6,000 in Zwickau, 1,500 in Kassel, 1,400 in Salzgitter and 1,300 in Braunschweig, making up about 10 percent of the company’s total workforce in Germany.

Volkswagen has been hit by an emissions scandal after it admitted its diesel cars were deliberately designed to cheat on emissions tests. In the US alone, VW has agreed to pay $15.3 billion in a settlement with local regulators.

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Japan plans $32.8 bil. extra budget for stimulus www3.nhk.or.jp

The Japanese government is finalizing a 32.8 billion-dollar supplementary budget to fund stimulus spending.
 
The government unveiled an economic stimulus package worth about 280 billion dollars earlier this month.
 
It is earmarking 7.1 billion dollars from the extra budget for child-rearing support and a one-time payment to low-income earners.
 
Some 14 billion dollars will be spent for infrastructure projects, such as ports that can accommodate large cruise ships.
 
The government is providing another 14 billion dollars to help rebuild the quake-struck Kumamoto area in the southwest, and the tsunami-hit northeast.
 
The second supplementary budget for the fiscal year starting in April totals 32.8 billion dollars, after subtracting some reductions. These include lower interest payments for government bonds resulting from low borrowing costs, and projects that are no longer necessary.
 
The Cabinet is to approve the budget on Wednesday and send it to the Diet later this year for legislative approval.
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Rio Olympics 2016: Did the IOC's gamble pay off or did Brazil fail to deliver? www.bbc.com

Awarding the Olympic Games to the Brazilian city of Rio in 2009 was viewed as a gamble by some critics.

However, the International Olympic Committee (IOC) saw it as the perfect opportunity to re-emphasise its core message of taking the spirit of sport to as many people as possible.

IOC president Thomas Bach maintains it was a risk worth taking.

"The Brazilians were great hosts and really united behind these Games," he said. "They turned this great competition into a party for everybody.

"The IOC has shown that it is possible to organise the Olympic Games in countries which are not at the top of the GDP ranking."

Huge swathes of seats remained empty for key events, blue pools turned green, athletes were mugged, others pretended to be, and a key IOC official - Ireland's Pat Hickey - spent the final days of the Games locked up in a high a security prison accused of trying to pass tickets to touts.

The Olympic movement can tick off another continent but, sporting achievements aside, the feeling is they got away with it - just.

Is the Olympics still a big deal?

Rio's global reach
The viewing figures and the size of the sponsorship deals probably provide the best answers to this question.

Officials say more than half of the world's population consumed the Games in some way. That figure is expected to rise further for Tokyo in 2020.

No other sporting event in the world generates interest in quite the same way, but some have suggested there is an ever-growing disconnect between the Games and the public because of issues such as doping and corruption.

"I think it's been a step back from London," said Ben Rumsby, a correspondent for British newspaper The Daily Telegraph. "It was always expected to be, but I think it's been a bigger step back than the organisers expected and they'll be looking forward to Tokyo, which is expected to be a success."

Did Rio embrace the Games?

Rio closing ceremony
Some people enjoyed the closing ceremony fireworks from outside the Maracana stadium
Political protests before the Olympics, focusing on allegations of corruption and the huge cost of staging the Games, had organisers concerned.

So did worries over security, water pollution and the Zika virus.

But it was the empty seats in some of the venues that provided the biggest headache once the action started.

At first, organisers blamed long queues for the poor turnouts and then pointed out that the Brazilian people are notoriously slow at getting involved in sport, unless it is football or volleyball.

On day one of the athletics, only 58% of available tickets were sold.

"I think we expected the whole atmosphere to sweep us along for the two weeks," said four-time Olympic rowing champion and BBC pundit Matthew Pinsent. "I don't think that has quite happened.

"I do think the spectator ticket sales has been a huge issue that they must have seen coming and they haven't been able to solve."

Why booing of French pole vaulter 'should not be condemned'

Jump media playerMedia player helpOut of media player. Press enter to return or tab to continue.
French pole vaulter booed on podium
Overall, there is a feeling organisers could have done more.

The price of a daily ticket, for example, was the equivalent of a half a week's wage for the average worker who lives in a favela.

Even if they were not in the arenas, though, locals were moved by the Games.

"Living in a favela isn't easy, especially when your country tries to make them invisible," said 19-year-old Isabella Alves de Oliveira, who lives in the infamous City of God favela.

"But when we watch people from a favela win Olympic gold, it is amazing.

"I hope the Olympics will leave a positive legacy, one of possibilities and one where children can dream and believe that these dreams can become reality."

What impact did the Russian doping scandal have?

Rio Olympics 2016: Yulia Efimova says 'Rio was awful - it was war'
It was the issue that dominated the build-up to Rio 2016, but, as expected, the action became the focus when athletes started to mount podiums.

There was a residual fallout that crept into the competition, though.

Some of the 271 Russian athletes who made it to Rio were booed, while swimmer Yulia Efimova, who has served a doping ban, was reduced to tears when jeers drowned out the announcement of her silver medal in the 100m breaststroke.

A handful of athletes tested positive during the Games but, given the small numbers so far, there was no controversy to match the pre-Games trouble.

And what about Zika?

It was one of the most talked about subjects before the Games, thanks chiefly to the number of top male golfers who withdrew.

Rory McIlroy, Jordan Spieth, Jason Day and Dustin Johnson all said Zika was a very real health threat, both to themselves and their partners.

When the action started, it was hardly ever mentioned.

Like those golfers, the mosquitoes stayed away.

What will Tokyo 2020 offer?

As an experience, Tokyo will be more polished, more high-tech and more intense than anything we have witnessed in Rio.

The Japanese capital is one of the most energetic and pulsating places on earth - and organisers are already hard at work to make the Games reflect this.

The addition of several new and exciting sports - like surfing, skateboarding and climbing - to the Olympic programme will no doubt help in this regard, too.

Many of the arenas are already in place, although there has been some controversy over the design and construction of the new Olympic stadium.

There is also an investigation into controversial payments made to officials linked to Tokyo's bid, while the first official logo for the 2020 Games had to be scrapped after claims of plagiarism.

"One thing we won't have to worry about in Tokyo is there isn't a lot of crime," Japan Times journalist Jake Adelstein told BBC Radio 5 live.

"Tokyo is ready to handle loads of tourists and it's a very safe city. How they'll deal with the heat is the question that is up in the air.

"When Japan submitted their bid for the Olympics, they wrote that the mild weather will provide athletes with conditions to perform at their best.

"But Tokyo, at this time of year, is anywhere between 30 and 40 degrees, with humidity at 80%, so if you feel that being on the inside of a sumo wrestler's armpit is the ideal way to perform at your peak, then Tokyo is the place to be."

Who can replace Bolt and Phelps?

medals
It is difficult to imagine the Olympics ever seeing the likes of Usain Bolt and Michael Phelps again, but sport needs heroes and new stars are emerging.

In the pool, 19-year-old Katie Ledecky leaves Rio with five Olympic medals, four of them gold. The American is the first women to take gold in the 200m, 400m and 800m freestyle since 1968.

"She is special," said former British swimmer Steve Parry, who won bronze at the Athens Games in 2004. "If she continues to progress the way she has been, she could smash all kinds of records."

Compatriot Simone Biles, also 19, also won four golds as she dazzled and bewitched in the gymnastics arena.

In the velodrome, British track cyclist Jason Kenny equalled Sir Chris Hoy's national record of six Olympic golds. If he races for as long as Hoy, then the 28-year-old probably has another two Games to get himself into double figures.

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Indian Ambassador requests to study the possibility of operating direct flights to Delhi www.gogo.mn

Indian Ambassador to Mongolia Suresh Babu met with Prime Minister J.Erdenebat and expressed his hope that friendly and close relations between India and Mongolia will be continued for long period in further. 
Prime Minister of Mongolia noted:
"Even Mongolia is facing with economic crisis, our Government will implement sustainable and long-term economic policies which help to develop our country. It is beneficial to our economy to control the flow of mineral and agricultural raw materials and we need to process the raw materials locally. Therefore, we are ready to cooperate with India on developing processing industries".

Mr. Suresh Babu, the newly appointed ambassador, stated that Parliamentary election was conducted fair in Mongolia and the country has achieved a peaceful shift of new Government by people`s choice which made me proud of Mongolian democracy. 
Indian Prime Minister Nerandra Modi has visited in Mongolia on May, 2015. Ambassador Suresh Babu requested PM to focus on the implementation of some agreements established during the visit including establishment of India-Mongolian joint school and educating 200 Mongolian students in India. 
At the end of the meeting, Ambassador Suresh Babu said trade turnover between our two countries is not enough and its ranging between USD 15-20 million. He requested PM to study the possibilities on operating direct flights to Delhi in order to hold regular meetings of businesses of two countries.

 
 
 
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PM expressed his interest to cooperate with World Bank

Prime Minister J.Erdenebat received today officials led by James Anderson, the Permanent Representative of the World Bank to Mongolia and Tuyen Nguyen, country director of the International Finance Corporation (IFC) to Mongolia. 
James Anderson, the Permanent Representative of the World Bank to Mongolia noted "This year marks the 25th anniversary of Mongolia - World Bank partnership. In scope of the anniversary, we will conclude the works we have done and reflect the proposals of the Government of Mongolia to the cooperation strategy over the next 25 years".

PM J.Erdenebat stated:
"Mongolia must have three pillars of the economy. In regards, we will focus on the development of the processing industries in all sectors. Also, we will reduce our dependence on mining. However, today we have no mega projects which have positive environmental and social impact assessment and economically beneficial. 
Therefore, we have interest to work with World Bank on assessing mega projects of processing industry and drafting feasibility study which estimated the economic benefits".
James Anderson, the Permanent Representative of the World Bank gave advice PM to focus on restoring foreign investors confidence in Government of Mongolia. 
Tuyen Nguyen, country director of the IFC expressed his willingness to help Mongolia to overcome the economic downturn by supporting the private sector.

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Chinese investors buy ad tech startup Media.net for $900m www.chinadaily.com

Advertising technology startup Media.net, founded by tech entrepreneur Divyank Turakhia, said on Monday it had been acquired for about $900 million by a group of Chinese investors.
 
The deal would represent the third-largest in the ad tech industry, after Alphabet Inc GOOGL unit Google's acquisition of DoubleClick and Microsoft Corp's deal for aQuantive.
 
"We got an incredible amount of interest just because ad tech is a large and growing space and, at the same time, the number of companies that have been successful in it have been limited," Turakhia said in an interview.
 
The company's products, which are licensed by various publishers and ad networks, auto-learn and display the most relevant ads to users.
 
Media.net, a Yahoo Inc ad partner, attracted seven bidders, including a publicly listed company based in the United States.
 
However, the bid fell through following a substantial decrease in the company's stock value, Turakhia said.
 
The deal gives Media.net access to the Chinese online advertising market, which is currently the second largest in the world, Turakhia said.
 
Digital ad spend in China is expected to reach $40.42 billion in 2016, a 30 percent jump from a year earlier, according to research firm eMarketer.
 
Media.net, which is based in Dubai and New York, gets 90 percent of its revenue from the United States.
The company posted revenue of $232 million in 2015, with more than half of that coming from mobile users.
 
The Chinese consortium will buy Media.net from Turakhia's Starbuster TMT Investments and has already made a payment of $426 million.
 
The group is led by Zhang Zhiyong, the chairman of telecom firm Beijing Miteno Communication Technology Co.
 
Miteno's shares have been halted since December.
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China becomes Kyrgyzstan's second largest investor www.xinhuanet.com

BISHKEK -- China has become the second largest investor to Kyrgyzstan after Russia based on figures from 2015, Kyrgyz Deputy Minister of Economy Almaz Sazbakov told a press conference here on Monday.
 
Kyrgyzstan, a member of the Russia-led Eurasian Economic Union (EEU), continues to expand its cooperation with China, Sazbakov said.
 
"In future, we expect investment from China tops 500 million U.S. dollars," he said.
 
Kyrgyzstan held talks with China on trade and economic cooperation, gained access to the market and drew investment from China, according to Sazbakov.
 
"It is very important for us because China has traditionally been one of our major investment partners," Sazbakov said.
 
Kyrgyzstan joined the EEU in 2015, which consists five countries -- Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
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VW supplier clash stops output at six plants www.theguardian.com

Volkswagen has been thrown into another crisis after a dispute with a supplier forced it to halt production at six plants and cut the hours of nearly 28,000 workers.
 
VW took the drastic action because a company that supplies it with gearbox parts and seat covers stopped deliveries. The move affects some of its biggest factories, which produce the popular Passat and Golf models as well as engines and exhausts.
 
The cGerman carmaker has halted manufacturing at its Wolfsburg and Emden plants for a week and is to reduce hours of staff elsewhere between now and 30 August. In total, 27,700 workers are affected, with some sent home and others moved to short-time working. VW has 10 factories in Germany in total.
 
The German government has urged VW and the supplier Prevent to resolve the dispute. Analysts at UBS have warned that VW could take a €100m (£86.1m) hit to its profits if car production is halted for a week at Wolfsburg, where the carmaker is based.
 
The disruption to production comes almost a year after it emerged that VW had cheated diesel emissions tests in the US. The company is still trying to deal with the repercussions of the scandal, which has already costs it billions of euros. VW has agreed a settlement with US authorities that will see it pay up to $15bn (£11.4bn).
 
VW has initiated legal action against Prevent in an attempt to force the supplier to resume deliveries. However, Prevent is holding out.
 
The dispute is connected to VW cancelling contracts with Prevent, which the supplier claims have cost it millions of euros. A Prevent spokesman told the German newspaper Handelsblatt that VW was imposing unacceptable conditions on its suppliers.
 
In a statement, VW said although a district court had issued injunctions which obliged “the suppliers to resume deliveries, the suppliers have not as yet met their obligations. Volkswagen continues its efforts to reach agreement with the suppliers.
 
“Given that further developments are not foreseeable, Volkswagen is making arrangements for various flexibilisation measures extending as far as short-time work.”
 
VW and Prevent had a “serious responsibility” to resolve the dispute, said a spokesman for the economy ministry. “We assume and also expect the companies to solve the sticking issues as soon as possible. It is about thousands of jobs, which could be affected by shorter work hours, and the responsibility to tackle these problems constructively is very high.”
 
Prevent owns two companies that supply VW. CarTrim makes seat covers while ES Automobilguss produces cast iron parts for gearboxes.
 
Shares in VW fell 0.5% on Monday. They are down by a quarter compared with a year ago owing to the impact of the diesel emissions scandal.
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