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

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.

...


64x64

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.

...


64x64

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.

...


64x64

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.

...


64x64

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.

...


64x64

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.

...


64x64

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.

...


64x64

News site Gawker.com to shut down next week www.bbc.com

The news site Gawker.com will shut down next week, just days after its parent company was purchased by Univision.
Gawker founder Nick Denton told staff on Thursday afternoon, a post on its website said.
Media firm Univision agreed to buy Gawker Media for $135m (£103m) at a bankruptcy auction.
Gawker filed for bankruptcy after losing a $140m privacy lawsuit brought by former wrestler Hulk Hogan, paid for by Paypal co-founder Peter Thiel.
Mr Thiel funded Mr Hogan's case saying he wanted to curb the company's "bullying", after the site published an article that outed Mr Thiel as gay.
Founded 14 years ago, Gawker is known for its no-holds-bar approach to reporting, including breaking gossip stories on high-powered celebrities and business leaders.
Univision is most commonly known in the US as the country's biggest Spanish-language media company. It also owns a 40% stake in the satirical website The Onion.
'Losing Gawker.com hurts'
In a memo to his staff, seen by the news agency AP, Mr Denton said: "Sadly, neither I nor Gawker.com, the buccaneering flagship of the group I built with my colleagues, are coming along for this next stage.
"We have not been able to find a single media company or investor willing also to take on Gawker.com. The campaign being mounted against its editorial ethos and former writers has made it too risky. I can understand the caution."
He added that he would move out of the news and gossip business but "work to make the web a forum for the open exchange of ideas and information".
A US bankruptcy court later approved Univision's purchase of Gawker Media, which owns seven websites in total.
They are: Gawker.com, Deadspin, Lifehacker, Gizmodo, Kotaku, Jalopnik, and Jezebel.
The post on Gawker's website said plans for future coverage and its website's archives had not yet been finalised.
Gawker employees took to Twitter to express their sadness about the decision to shut down the sites.
"Our other sites, including Kotaku, live on, but losing the vibrant Gawker.comhurts," tweeted Stephen Totilo, editor-in-chief of Kotaku.
Bobby Finger, a staff writer for Jezabel, tweeted, "I'm one of countless people who owes Gawker so, so, so much."
Another staff writer, Jordan Sargent, wrote: "Gawker is dead because Peter Thiel (w the help of Charles harder) has succeeded in creating a world where owning gawker is simply not viable."
Former Gawker reporter Sam Biddle wrote simply, "I am heartbroken".
Financial trouble
Earlier this year Gawker was sued by Hulk Hogan, whose real name is Terry Bollea, after the website published a video of Mr Hogan having sex with the wife of a friend from 2007.
A three-week trial ended with the jury ruling in the former wrestler's favour and ordering Gawker to pay $115m in compensation and $25m in punitive damage.
Gawker asked the judge for a new trial, but that request was rejected. Many experts though expect that the original verdict will be overturned on appeal.

...


64x64

IFC interested in cooperation in water treatment, solar energy, public transport www.en.montsame.mn

Ulaanbaatar /MONTSAME/ Mayor of Ulaanbaatar, Mr S.Batbold welcomed in his office on Thursday, the Head of Asia Infrastructure and Natural Resources Department at International Finance Corporation (IFC), Mr Hyun Chan-Cho.
 
The Mayor sounded his interest in cooperating with the IFC in infrastructure development, building housing apartments, creating workplaces, improving governance and the citizens’ participation. “Your expertise and investment is highly valuable in solving the urgent problem facing Ulaanbaatar”, he said.
 
In response, Mr Hyun said that the IFC is interested in collaboration in water treatment, solar energy usage and development of public transport. Moreover, because the private companies offer numerous projects on solar energy and water treatment, “we would like to advise you to improve Public and Private Partnership”, he said.
...


64x64

U.S. judge rejects Uber's driver expenses settlement www.reuters.com

A U.S. judge on Thursday rejected an attempt by Uber Technologies Inc to settle a class action lawsuit with drivers who claimed they were employees and entitled to expenses.
 
In a case that has been closely watched in Silicon Valley, where many companies use on-demand workers, U.S. District Judge Edward Chen in San Francisco ruled the settlement was not fair or adequate for Uber drivers.
 
Some drivers had objected to terms of the settlement valued at up to $100 million, which would have affected roughly 385,000 current and former drivers in California and Massachusetts.
 
Uber drivers contended in the lawsuit they should be deemed employees and reimbursed for expenses such as gasoline and vehicle maintenance. Those expenses are now borne by the drivers.
 
The proposed settlement would have kept drivers classified as independent contractors. Several drivers who were part of the class filed objections with the court, particularly because the proposed amount was well below the total potential damages in the case of roughly $850 million.
 
In a statement, Uber said it believed the settlement was fair and reasonable.
 
"We're disappointed in this decision and are taking a look at our options," the company said.
 
Chen noted that part of the proposed settlement, $16 million, would only have been paid to drivers if Uber's valuation grew by a certain benchmark within a year of any initial public offering.
 
Because Uber could not provide specific information that such an outcome was likely, Chen said he would not consider those dollars as part of the settlement. The remaining $84 million, Chen said, represented a "substantial discount" on the full value of driver claims.
 
Among Chen's primary concerns were claims related to the Private Attorney General Act, which could come with penalties far exceeding the $1 million the settlement allowed. PAGA, passed in California in 2004, states that individuals may pursue civil penalties for labor code violations, and share any payment recovered with the state.
 
Both parties could reach a new agreement that satisfies the judge's concerns, said Shannon Liss-Riordan, the attorney representing the drivers.
 
"But if not, as I’ve said before, I will take the case to trial and fight my hardest for the Uber drivers," she said.
 
However, Liss-Riordan said, if there is no settlement agreement, the number of drivers included in the case would drop to about 8,000, because many drivers did not opt out of the arbitration clause in Uber's licensing agreement.
...