1 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      2 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      3 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      4 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      5 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      6 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      7 SOLAR EMPOWERMENT OF NOMADS IN RURAL MONGOLIA WWW.GREENOPTIMISTIC.COM PUBLISHED:2019/02/15      8 MONGOLIA, CUBA TO BOOST BILATERAL RELATIONS WWW.PLENGLISH.COM PUBLISHED:2019/02/15      9 GOOGLE OUTLINES $13BN US INVESTMENT WWW.BBC.COM PUBLISHED:2019/02/14      10 NATIONAL DEVELOPMENT AGENCY TO COOPERATE WITH JAPAN’S MIZUHO BANK WWW.MONTSAME.MN PUBLISHED:2019/02/14      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Bank of America warns US-China tension puts global economy at risk in 2017

An escalation of trade tension between the world's two biggest economies –the US and China – could become one of the major threats to the global economy this year, according to Bank of America Merrill Lynch (BofAML).

In a report, the bank said the relationship is crucial for the world economy as the two countries have the most power to move global markets. This relationship could be tested in the coming months, depending on US President-elect Donald Trump’s agenda, BofAML added.

“It remains to be seen whether the incoming US administration will name China a currency manipulator,” analysts at BofAML said.

Trump has repeatedly argued many Chinese policies are unfair, pointing to Beijing’s currency manipulation, theft of trade secrets, hacking, lax labor and environmental regulations. He accused China of taking American jobs and depressing wages.

During his election campaign, Trump accused China of manipulating its currency to give its exports an advantage over US-made goods. He threatened to slap a tariff of up to 45 percent on Chinese imports.

In December, President-elect Trump established the White House National Trade Council, to be led by Peter Navarro, who’s a hard-line critic of China.

“Invoking the law would trigger a year of ‘enhanced bilateral engagement, ’ and if Trump deems the results as inadequate he can impose a number of relative modest trade restrictions,” Bank of America’s analysts said.

They added that both sides could impose considerable economic and “financial pain on the other (and the rest of the world); however, it is not clear how much each is willing to offer.”

According to the report, China could potentially agree to make some small concessions.

“We could imagine China agreeing to tighten its environmental rules since it seems increasingly in their self-interest and they are already trying to prevent weakness in their currency, but other concessions could prove hard to come by,” said Ethan Harris, head of global economics at BofAML.

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Yahoo to change name after Verizon deal, Mayer steps down www.rt.com

Yahoo said it would rename itself Altaba as soon as the deal with Verizon Communications is completed.

The company’s CEO Marissa Mayer along with another five longtime directors will step down from the board, according to Yahoo’s regulatory filing.

The new name is a combination of the words ’alternate’ and ‘Alibaba,’ said a person close to the issue, as quoted by the WSJ.

Altaba’s remaining assets include Yahoo’s 15 percent stake in the Alibaba Group and 35.5 percent stake in Yahoo Japan.

The new company named Eric Brandt chairman of the board. Brandt, the former chief financial officer of the US-based semiconductor producer Broadcom, joined Yahoo’s board last March.

According to the filing, Brandt will be joined by four other directors who are currently on Yahoo’s board.

“Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith will continue to serve as directors of the Company following the Closing, and Mr. Brandt will serve as Chairman of the Board,” the company said.

Verizon announced the acquisition of Yahoo for $4.83 billion last July. The deal doubled Verizon's digital advertising business. The corporation received Yahoo's search, mail, and content businesses.

The terms of the agreement could be changed, and there is even the possibility of it being recalled after Yahoo disclosed two separate data breaches last year.

Verizon is investigating the data breaches. However, it is unlikely to scupper the deal as company executives see a strong strategic fit with Yahoo.

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Pen power: China closer to ballpoint success www.bbc.com

It has sent rockets into space, produced millions of the world's smartphones and built high-speed trains. But until now, one bit of manufacturing had perhaps unexpectedly eluded China: the ballpoint pen.
A year ago Premier Li Keqiang went on national television and bemoaned the failure of his country to produce a good quality version of this seemingly-simple implement.
Locally-made versions felt "rough" compared to those from Germany, Switzerland and Japan, Mr Li complained.
High precision
The problem was not the body of the pen, but the tip - the tiny ball that dispenses ink as you write.
It might be something we take for granted, but making them requires high-precision machinery and very hard, ultra-thin steel plates.
Put simply, China's steel has not been good enough. And it has struggled to shape its pen tips accurately.

Without that ability, China's 3,000 penmakers have had to import this crucial component from abroad, costing the industry a reported 120m yuan ($17.3m; £14.3m) a year.
But according to People's Daily, the state-owned Taiyuan Iron and Steel Co thinks it has cracked the problem, after five years of research.
The first batch of 2.3-millimetre ballpoint pen tips has recently rolled off its production lines, the paper says.
And once lab tests are completed, it's expected China could phase out pen tip imports completely within two years.
Symbolic
On one level, whether China can make a great pen is not hugely important in the scheme of things.
High-tech and innovative manufacturing lie at the heart of the central government's Made in China 2025 programme - designed to help domestic growth.
Relatively low-value items, like ballpoint pens, have not been a priority.

European firms have dominated the ballpoint pen industry at both the top and lower ends of the market
Despite producing more than half of the world's crude iron and steel, China has still heavily relied on imports for high-grade steel.
It was a failing that Mr Li said highlighted the need to upgrade China's manufacturing capabilities.
Different culture
"Historically, China has never been able to do precision engineering very well and the ballpoint pen is an example of that," says Professor George Huang, head of the University of Hong Kong's department of industrial and mechanical engineering.
"Its parts are so small and very precise, and it's not easy to solve this problem"
Precision engineering is thriving only in certain sectors such as aerospace and defence where the government has placed a high priority, says Prof Huang.
Even when it comes to smartphones and computers, the high end computer chips are usually imported from Japan and Taiwan.
Prof Huang says that China lacks a culture of excellence in precision engineering.
He uses the Mandarin term "fucao" or "floating grass", a euphemism for something that is not 100% solid or reliable.
"The culture is different from the Japanese and Germans," he says, who are known for innovation in engineering.
"We Chinese are supposed to be craftsmen, but somehow the spirit is not as good."

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Russian Elite $29Bln Richer After Trump Election Victory www.themoscowtimes.com

Russia’s wealthiest have seen their fortunes grow by $29 billion since the election of U.S. President-elect Donald Trump in November, Forbes magazine reported Tuesday.

The country’s elite have seen their combined bank balance grow by 7.1 percent thanks to a rise in stock prices and the rapidly strengthening ruble.

Businessman Gennady Timchenko was among Russia’s wealthy beneficiaries, gaining $1.8 billion from his shares in Russian energy giant Novatek.

Timchenko, a close ally of Russian President Putin with a net worth of $15.1 billion, is believed to hold a 23 percent stake in Novatek. The company’s shares have seen a 16 percent boost since Trump’s shock victory.

Fellow Novatek investor Leonid Mikhelson also saw his net worth grow by an estimated $1.9 billion in the weeks after the election, retaining his title of Russia’s richest man. Mikhelson remains Russia’s richest man, worth $18.2 billion.

Russian billionaires aren’t the only ones to feel the benefit of the Republican candidate’s impending inauguration. According to Forbes, America’s wealthiest have also enjoyed a modest post-Trump boom of 2.8 percent.

The U.S. President-elect himself, who has taken a number of steps to distance himself from his business empire before assuming office, has a net worth of $3.7 billion.

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New technology products against air pollution introduced www.gogo.mn

With an aim to reduce air pollution, new technologies to provide households with electric heating and to improve insulation of houses and gers are being introduced. A technology fair, where over 50 companies displayed their products, opened yesterday at ‘Misheel expo’ expo hall. The Government made decision to provide ger district residents with free electricity for nighttime use and the fair has been organized to help people to choose products.
Electric heaters, air cleaning equipment, compressed fuels made of industry waste including sawdust and shell of nuts, and masks are on display. Products which developed by Mongolian engineers or co-produced with foreign companies attracted the visitors of the fair. 
 ‘Arya’ company introduced its set of insulation materials for Mongolian traditional ger. This new technology based insulation materials have been proved with tests that it keeps warm equal to 6- layer felt covering. “- The inner layer is made of aluminum laminate/shield and outer layer is of water resistant synthetic polystrol. In addition, our set contains floor insulation material, which is useable instead of wooden floor. Using the set, allows ger to get warm in short period and the warm can be kept for some 12 hours. Price of our set is MNT1.250.000, which means cheaper than traditional materials for ger warming and insulation” said director of ‘Arya’ company Z.Zoljargal. The company also offers to customers its eco-stove pipe, which impulses to complete combustion of fuels and filters smoke.
Prime Minister J.Erdenebat and Minister of Environment, Green Development and Tourism D.Oyunkhorol visited the fair and the Prime Minister promised to meet the company delegates in the near future to discuss the effectiveness of their product and how to introduce their new technology products.

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ICBC to Open Its Office in Mongolia www.montsame.mn

The Board of Directors of the Central bank of Mongolia has made a decision to grant Industrial and Commercial Bank of China /ICBC/ a permission to open its representative office in Mongolia in 2017, on January 5. According to the Banking law of Mongolia, the representative office of a foreign bank is prohibited to undertake banking activities without a license of the Bank of Mongolia. The office in Mongolia will engage in representational and administrative functions on behalf of the ICBC.

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Mongolian woman climbs all ‘Seven Summits’ www.news.mn

Mountaineer B.Gangaamaa has returned to Mongolia after successfully climbing the Mount Vinson Massif, the highest peak of Antarctica. In reaching her goal, she became the first Mongolian woman to conquer the mountain and the first Mongolian "Seven Summiteer."

At 7:15 pm (Chilean time) on Christmas Day B.Gangaamaa, who is a State Honoured Sportswoman, finally stood upon the Vinson Massif thus becoming one of the 416 Seven Summiteers from around the world.

The Seven Summits are the highest peaks of the seven continents. B.Gangaamaa's list of achievement is as follows:

In 2010, she climbed at Mount Elbrus (5642m) in Russia, the highest peak in Europe

In 2011, Mount Everest (8848m), the highest peak in Asia and the world's highest mountain.

In 2012, Mount Kilimanjaro (5895m), the highest peak in Africa.

In 2015, Mount Denali (6190m), the highest mountain in North America, until August 2015 it was known as Mount Mc Kinley.

In 2016, Mount Aconcagua (6962m), the highest peak in South America

In 2016, Mount Carstensz Pyramid (4884m), the highest peak of the Oceania

In 2016, Mount Vinson Massif (4892m), the highest peak of Antarctica

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Danish man threatens to blow up Canadian Embassy in Ulaanbaatar www.news.mn

Mongolian law enforcement officers have arrested a Danish man who allegedly threatened to explode a bomb in the Central Tower, located in the heart of Ulaanbaatar. The incident occurred on Monday 9th of January at 16:00 p.m. following an argument with an employee of the Embassy of Canada, which is located on the 6th floor of the building. Evidently, the Danish citizen wanted to see the Canadian Ambassador but was barred by the employee after which the bizarre threat was made. Central Tower security guards called the police and officers from the Sukhbaatar District Police Department quickly arrived on scene. More information is expected to emerge regarding the incident.

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‘Erdenes TT’ to sell coal for USD 59.3 per tonne www.news.mn

Erdenes Tavan Tolgoi (Erdenes TT) is to sell coal for USD 59.3 per tonne at the East Tsankhi block in first quarter of 2017. The pricing decision was made on the basis of the coal pricing index and the coal market price. In December, a Mongolian Government and Erdenes Tavan Tolgoi working group revised the agreement with TT JV Co to raise the average selling price for coal by 85% in December. The coal price will be same at the East Tsankhi block until the second quarter of 2017.

Erdenes TT plans to mine 1.1 million tonnes of coal at the West Tsankhi block, however, that is still some time off as exploration has not yet begun. The East and West Tsankh blocks will help to generate USD 100 million tax revenue in first half of 2017 and to pay off the loans to Chalco and TT JV Co.

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11th Annual International Mongolian Studies conference to be held www.gogo.mn

On the occasion of the 30th anniversary of diplomatic relations between Mongolia and USA, the 11th Annual International Mongolian Studies Conference will take place on January 27-28, at the Embassy of Mongolia to the USA and the Library of Congress of US.
The conference under the theme “Mongolia-US Relations; Past, Present and Future” will be hosted by the Mongolian Cultural Center and Embassy of Mongolia in Washington. Scholars and Mongolists from Mongolia, the US, Russia, China and Canada will attend to deliver speeches on issues of the US-Mongolia bilateral relations, history, language and literature of Mongolia and Mongolians in the USA.
Some of the speeches to be given at the event are ’30 years of US-Mongolian relations-trends’, ‘The significance of Mongolia’s third neighbor foreign policy’, ‘Contribution of Buddhist Monks for the Mongolia-US relations’, ‘Exploring the Significance of Values-based Leadership Development in Mongolian Higher Education’, ‘The First Draft of History has a Poor Memory: The Dilowa Khutughtu in American Journalism’, ‘Online News Consumption Habit in Mongolian American Community’, ‘Critical Discourse Analysis of Social Media Communication in Mongolian American Communities’ and ‘Category of ‘Unpleasantness’ in Mongolian Language.

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