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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Sale of S. Kidman & Co "on hold" amid uncertainty over foreign investment in Australia www.xinhuanet.com

CANBERRA, Aug. 22 (Xinhua) -- The sale of Australia's largest cattle rearing company, S. Kidman & Co, has been put on hold as foreign buyers are becoming hesitant to submit bids amid government rejection of foreign offers for Aussie companies.

Bids for Kidman & Co, the nation's largest private land holding, were expected to have been received last month, however, after two prior bids were rejected by the federal government over national security and national interest concerns, prospective buyers are choosing to wait until the government clarifies its stance on foreign investment.

Chinese company Shanghai Pengxin has already had one bid rejected by federal Treasurer Scott Morrison; the 281 million U.S dollar bid was deemed not in the "national interest" and the bid was withdrawn.

Shanghai Pengxin has indicated it would not submit another bid until the government or S. Kidman & Co could clarify what an acceptable arrangement would be.

A statement from S. Kidman and Co provided to News Corp outlet on Monday said there were "no indicative timelines in place for the transaction," even though the pastoral company had been listed as "for sale" for more than 18 months.

"The vendors are in discussion with a number of potential bidders and there is unlikely to be any outcome for some months," the statement said.

In addition the uncertainty surrounding foreign investment, last week the Chinese Embassy warned the federal government that a lack of clarity surrounding foreign investment bids could have a "serious impact on the enthusiasm" of other prospective Chinese buyers.

Meanwhile, National Farmers Federation chief executive Tony Mahar asked the government to quickly provide clarity over the sale of Australian-owned and state-owned assets to foreign buyers, as it could negatively affect the chance for Aussie businesses to sell in the future.

"A market operates effectively when vendors and purchasers know what the criteria are and what they need to do to get a sale or to provide investment," Mahar told News Corp on Monday.

"It appears there is not enough certainty and clarity over the investment regime and the investment landscape."

"We want to make sure that there is the right mechanism in place to monitor (foreign investment), and to make sure that it is good for the industry, but we don't want to send mixed signals about Australia being 'open for business' or not."

The government has previously spruiked that it is "open for business" in terms of foreign investment, however, recent bid rejections have been to the contrary, undermining the stance that Australia welcomes foreign investment.

 
 
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Growth in Chinese thermal coal imports won't last www.mining.com

Recent increases in thermal coal imports in China may appear promising, but a new report from BMI Research states that Chinese coal consumption has already peaked. BMI forecast that Chinese coal imports will continue to grow strongly for only a few months; after that, there will be a gradual decline in coal imports from 2017 to 2010, due primarily to a poor outlook for coal demand within China.
Chinese imports of thermal coal grew by 7.5% in May 2016 and 13.1% in June 2016 – in dramatic contrast to 2015, which saw Chinese coal imports decline by 34.8%. However, BMI predicts that this growth trend will not last long.
 
First, BMI cites three reasons why it believes that domestic demand for coal in China will not increase:
 
The Chinese economy is slowing: China’s real GPD will decrease from about 6.3% in 2016 to 5.5% in 2025. This will lead to the stagnation of heavy industries such as manufacturing, which typically require a lot of power from coal.
 
The composition of China’s GDP growth will shift towards the service sector, rather than power-intensive manufacturing.
China committed at the UN Paris Climate Conference in 2015 to cap its coal intake and increase its usage of renewable energy sources such as wind and solar to 15% by 2020. This will cap the growth of power generated by coal.
 
Second, BMI contends that the recent increase in Chinese coal imports was caused by supply and demand factors that will not continue.
 
On the supply side, China’s coal production was severely cut by consolidations in 2016 because domestic prices were low, and the government wanted to curb overcapacity. As a result, there was a pronounced reduction in coal mining in 2016, leading to increased demand for imports. China is still cutting the coal sector, but it is expected that this will be the most pronounced in 2016, and that the sector will actually be growing by 2018 onwards. This is because by then, sufficient cuts will have been made. Fixed costs per unit of input will have been reduced because of the closure of redundant mines, increasing the profitability of the remaining mines.
 
On the demand side, domestic demand for coal was fuelled by recent Chinese government economic stimulus measures to increase industrial activity. But these stimulus measures will cease by 2017.
 
In sum, China imported 108m tonnes of thermal coal in 2015. This was a 33.1% decline from 2014. BMI predicts that imports should be about the same in 2016, and then will decline gradually in 2017 – 2020. This will be due to weak consumption growth: coal consumption will be 2.5% lower in 2025 than it was at the 2013 peak (when a peak 192m tonnes of coal was imported).
 
On the other hand, if there is a much more aggressive consolidation of the coal sector, domestic coal prices might go up; in that case, China might increase coal imports.
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Banks to cut money transfer fees with new system www3.nhk.or.jp

About 30 banks in Japan are planning to introduce advanced technology used to trade virtual currencies to lower their money transfer fees.
 
The banks say they will introduce the new money transfer system from March next year at the earliest.
They include the Bank of Yokohama, a regional bank, and SBI Sumishin Net Bank, an online bank.
 
The banks say the system will enable them to remit money immediately between them, inside and outside Japan, around the clock, including on holidays.
 
They say they will be able to cut money transfer fees to less than one tenth the current levels by using the network technology used in trading bitcoin and other virtual currencies.
 
The transfer fees will be set by each bank, but they are expected to be reduced drastically.
 
More banks are working on the introduction of the latest information technology to reduce fees for money remittance.
 
The Bank of Tokyo-Mitsubishi UFJ is cooperating with a US bitcoin exchange in developing money remittance services.
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Wrestling: Furious Mongolians strip off over bronze medal defeat www.reuters.com

 

(Reuters) - Two Mongolian coaches stripped off and hurled their shoes in protest on Sunday after their wrestler Mandakhnaran Ganzorig was denied victory for running away from his Uzbek opponent in the dying seconds of their bronze medal contest.

Ganzorig, leading Ikhtiyor Navruzov by seven points to six, taunted his opponent by dancing around him in the last 18 seconds of their 65kg match and was then carried around the ring in triumph by one of his coaches.

But the judges then adjusted the score to 7-7, penalizing the Mongolian for 'fleeing the hold', or refusing to engage with his opponent. They then added a further point to the Uzbek's score after the Mongolian corner challenged the decision and had the challenge rejected.

Ganzorig crouched head down on the mat in disbelief at the reversal as both coaches advanced toward the judges, stripped off their shirts and shoes and hurled them to the floor.

With the crowd erupting, one of them then took off his track pants and remonstrated with the judges wearing nothing but a pair of trunks.

One of the coaches, Byambarenchin Bayaraa, told reporters later: "This was a protest. There was a problem with the refereeing... Three million people in Mongolia waited for this bronze medal and now we have no medal."

Navruzov, the victor, celebrated by wrestling his coach to the floor and then kneeling on the mat as if in prayer.

"He tried to run (away). This cannot happen. I have little respect for him and for his trainer," the Uzbek said.

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Pfizer and Medivation reportedly close to $14bn deal www.bbc.com

US pharmaceutical giant Pfizer is reportedly in advanced talks to buy cancer drug company Medivation for about $14bn (£10.7bn).
The Financial Times and Bloomberg were among news groups reporting that an announcement of a takeover could come early this week.
San Francisco-based Medivation produces the prostate-cancer treatment Xtandi.
France's Sanofi had tried to buy Medivation, and Merck & Co and Celgene were also said to have considered bids.
Reuters reported on Sunday that Pfizer had agreed in principle to pay about $80 per share for Medivation, a substantial premium to the $52.50 offer for Medivation that France's Sanofi made in April.
Pfizer's drugs portfolio includes the breast cancer treatment Ibrance and several other promising immuno-oncology products.
In addition to Xtandi, which is already approved for sale in the US and is forecast to generate $5.7bn in sales by 2020, Medivation has a breast cancer treatment under development, Talazoparib.
Medivation was founded in 2004. It's share price has more than doubled in the past six months on takeover talk.
In April, Pfizer scrapped a planned merger with Ireland's Allergan after the deal hit trouble because of plans to change US tax laws.
The US Treasury had announced plans to prevent deals known as "inversions", where a US firm merges with a company in a country with a lower tax rate.
The Pfizer-Allergan deal, valued at $160bn, would have been the biggest example of an "inversion".
It would also have been the biggest pharmaceutical deal in history.

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Viacom boss Philippe Dauman resigns following $72m settlement www.bbc.com

The chief executive officer of Viacom, Philippe Dauman, has resigned after a fraught, familial battle for control of the US media giant.
Thomas Dooley, his longtime right-hand man as the company's chief operating officer, replaces him temporarily.
Mr Dauman also stood down as president, under a settlement that includes a $72m (£55m) payoff. He remains non-executive chairman until 13 September.
He is due to present a plan to sell a small stake in Paramount Pictures.
The settlement follows a battle between Mr Dauman and Viacom's controlling shareholder, Sumner Redstone.
Until recently Mr Dauman, 62, was a close confidant to the 93-year-old Mr Redstone and had worked for him for 30 years.
However, in May Mr Redstone removed him and another board member, George Abrams, from National Amusements - a company that controls Mr Redstone's major shareholdings in both Viacom as well as CBS, the US television network.
At the time Mr Redstone said he had been unhappy with Mr Dauman's Paramount plan.
Mr Dauman and Mr Abrams said Mr Redstone's daughter Shari Redstone had played a role in their removal. They said she was manipulating her father and filed a lawsuit alleging that Mr Redstone was unfit to make the decision.
Ms Redstone called the accusation "absurd".
Viacom will also appoint five new board members, suggested by National Amusements, who will help find a new chief executive.
Mr Dooley will act as CEO until 30 September, the end of Viacom's fiscal year, by which time the board is expected to make its decision.
Shares in Viacom closed up 1.8% at $48.70.

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Chinese firm 'eyes Liverpool FC stake' www.bbc.com

A consortium led by a Chinese investment company is interested in buying a stake in Liverpool Football Club, according to media reports.
The Financial Times said Chinese state-owned firm Everbright and private equity firm PCP Capital Partners were behind the multi-million pound bid.
Other reports quoted club insiders as saying an unsolicited preliminary offer had already been submitted.
But the club and owners Fenway Sports Group said they had received no bids.
The FT quoted the club's chief executive, Ian Ayre, as saying, "There is no bid and we have no ongoing investment discussion of any kind with anyone."
US firm Fenway acquired Liverpool for £300m in 2010. The latest reported bid is said to value the club at more than £700m.
Quiet acquisitions
In recent years, Chinese investors and firms have quietly been acquiring stakes in football clubs in England, Spain, France, Netherlands and the Czech Republic, while President Xi Jinping has professed a love of the game.
In December last year, Manchester City's parent company, City Football Group, sold a 13% stake, worth £265m, to a consortium of Chinese investors.
According to Deloitte's Football Money League, Liverpool are the ninth richest football club in the world, with revenues of €391.8m (£339m) in the 2014-15 season.
Last financial year, the club made a £60m pre-tax profit, thanks to the £75m it made from selling Luis Suarez.
Without the boost from the Uruguayan footballer - which the club invested in eight new players - Liverpool would have broken even for the year.

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Duterte Threatens to Withdraw Philippines From UN, Hits US www.bloomberg.com

Davao, Philippines (AP) -- The Philippines' brash-talking president threatened Sunday to withdraw his country from the United Nations and lashed out at U.S. police killings of black men in his latest outburst against critics of his anti-drug campaign, which has left hundreds of suspects dead.
President Rodrigo Duterte pointed to the haunting image of a bloodied child being pulled from the rubble of a missile-struck building in the Syrian city of Aleppo to note the inability of the U.S. and the U.N. to stop such deadly conflicts, complaining that he comes under fire for the killings of criminals.
The U.S. State Department and two U.N. human rights experts have urged Duterte and Filipino authorities to stop extrajudicial killings in the fight against illegal drugs and ensure law enforcement compliance with international human rights obligations. Philippine police say more than 500 drug suspects have been killed in gunbattles with police since Duterte was sworn in eight weeks ago.
Agnes Callamard, the new U.N. Special Rapporteur on summary executions, suggested that Philippine officials could be held liable, saying in a recent statement that "claims to fight illicit drug trade do not absolve the government from its international legal obligations and do not shield state actors or others from responsibility for illegal killings."
Criticisms against Duterte's crusade against a problem that he says has become a pandemic provoked an angry outburst from Duterte, who held a news conference after midnight Saturday that dragged on for more than two hours.
"Maybe we'll just have to decide to separate from the United Nations. If you're that rude, son of a bitch, we'll just leave you," Duterte told reporters in Davao, where he first built a reputation for his tough crime-busting style while serving as the southern city's longtime mayor.
Duterte also belittled U.N. work in the Philippines without providing facts, raising questions, for example, about the performance of the world body's agency that fights hunger.
If the Philippines breaks off from the U.N. — which Duterte called "inutile" and "stupid" — he said he would invite other countries like China and African nations to form a new international body. The U.N., he said, should return Manila's financial contributions.
"Look at the iconic boy that was taken out from the rubble and he was made to sit in the ambulance and we saw it," Duterte said, referring to the photo of a 5-year-old Syrian boy, Omran Daqneesh, that has gone viral online.
"Why is it that United States is not doing anything? I do not read you," Duterte said. "Anybody in that stupid body complaining about the stench there of death?"
When asked about the possible repercussions of his remarks, Duterte replied: "I don't give a shit about them. They are the ones interfering."
Duterte wondered whether U.N. officials were threatening to put him in prison and repeated that he was ready to sacrifice his life and presidency for his country.
Reacting to U.S. criticisms, Duterte cited the string of shootings involving police and black men that have sparked protests in the U.S.
"Why are you Americans killing the black people there, shooting them down when they are already on the ground?" he asked. "Answer that question, because even if it's just one or two or three, it is still human rights violations."
Duterte's drug crackdown has left more than 500 suspected dealers dead and more than 4,400 arrested since he took office on June 30. Nearly 600,000 people have surrendered to authorities, hoping to avoid getting killed. The arrests have further overwhelmed the Philippines' overcrowded jails.

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Glass bridge: China opens world's highest and longest www.bbc.com

The much-heralded "world's highest and longest" glass-bottomed bridge has opened to visitors in central China.
It connects two mountain cliffs in what are known as the Avatar mountains (the film was shot here) in Zhangjiajie, Hunan province.

Completed in December, the 430m-long bridge cost $3.4m (£2.6m) to build and stands 300m above ground, state news agency Xinhua reported.
It has been paved with 99 panes of three-layered transparent glass.
And according to officials, the 6m-wide bridge - designed by Israeli architect Haim Dotan - has already set world records for its architecture and construction.

The year of glass bridges
Glass bridges in China have been a popular craze for the daring photo opportunities they provide. Events like mass yoga displays and even weddings have been staged on several such bridges.
One couple celebrated their special day by dangling in mid-air from a bridge in Pingjiang, also located in Hunan province.

But how safe is it?
This was the question on everyone's minds as the city geared up for the bridge's official opening.
But officials have staged high-profile events to try and reassure the public of the bridge's safety.
Officials sent in sledgehammers and even drove a car, filled with passengers, across the bridge earlier this year.
The BBC's Dan Simmons was invited to take a bash at the bridge.

And for good measure, they drove a car full of people over it
Park officials have said a maximum of 8,000 visitors will be allowed on the bridge each day.
So those wanting to add another thrill to their bucket list are strongly encouraged to book their slots in advance.

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Foreign funds boost investment in Russia, but all's far from perfect www.rt.com

Investments in Russia have grown for a second week in a row, reports Sberbank CIB, citing data from Emerging Portfolio Fund Research. In the week through August 17, capital inflow has more than doubled.

During the week, investors bought $167 million worth of Russian assets, surging from $66 million the week before.

Despite the surplus, investments in Russia were the lowest among developing BRICS economies. In general, emerging markets attracted $5.15 billion, compared to $1.25 billion last week.

According to Sberbank analyst Cole Acheson, investors may not be convinced by the 20 percent rise in oil prices since the beginning of August. The market is also concerned by a possible toughening of rhetoric between Russia and Ukraine.

The Russian currency was slightly losing its position on Friday, trading at 64 rubles against the dollar and 72.5 against the euro. The ruble-traded MICEX and dollar-denominated RTS indices were down less than 1 percent.

Domestic currency slid with oil, which was trading at $50.52 per barrel of North Sea benchmark Brent and $48 for US WTI.

The ruble has been the best-performing among all emerging-market currencies outside of Brazil this year, however, a further rally is in question. Probable monetary easing and troubles with the current-account surplus, which dropped to $16.4 billion in July from $50.6 billion in the same period last year, may hit the Russian currency, said an economist for Russia at Bank of America, Vladimir Osakovskiy, in an interview with Bloomberg.

Shares in major Russian companies were also in the red, with Gazprom, Sberbank, and Rosneft all sliding less than 1 percent.

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