1 TOP 10 RICHEST PEOPLE IN MONGOLIA 2018 MONGOLIAN BILLIONAIRES WWW.ELITESHARED.COM PUBLISHED:2018/07/22      2 IRKUTSK REGION'S EXPORT OF CHICKEN EGGS TO MONGOLIA ALMOST DOUBLED WWW.RUSEXPORTER.COM PUBLISHED:2018/07/21      3 86 PERCENT OF ACTIVE ENTITIES IN MONGOLIA HAVE UP TO 9 EMPLOYEES WWW.GOGO.MN PUBLISHED:2018/07/20      4 MONGOLIA TAKES STEPS TO BOOST CASHMERE PRODUCTION WWW.NEWS.MN PUBLISHED:2018/07/20      5 HIV INFECTIONS RISES TO 262 IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2018/07/20      6 FRONTCLEAR FACILITATES A LANDMARK TRANSACTION WITH STATE BANK MONGOLIA, EBRD AND ING BANK WWW.KTVN.COM PUBLISHED:2018/07/20      7 MONGOLIA COULD BE RIO'S COPPER GROWTH KEY WWW.MINING-JOURNAL.COM PUBLISHED:2018/07/20      8 FOREIGN OFFICE MINISTER MARK FIELD VISITS MONGOLIA WWW.GOV.UK PUBLISHED:2018/07/20      9 ZOO-BRED PRZEWALSKI’S HORSES ARE FREED INTO THE PLAINS OF MONGOLIA WHERE THEIR ANCESTORS ROAMED FOR CENTURIES HAVING BATTLED BACK FROM JUST ONE SURVIVING WILD ANIMAL WWW.DAILYMAIL.CO.UK PUBLISHED:2018/07/20      10 MONGOLIAN AND CHINESE JOINT VENTURE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2018/07/20      ТАВАНТОЛГОЙ-ЗҮҮНБАЯН ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫГ БАРИХ АЖИЛ ЭХЛЭЭД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/22     ШИНЭ УРГАЦ ГАРЧ ЭХЭЛСЭН Ч НОГООНЫ ҮНЭ ӨНДӨР ХЭВЭЭР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/20     АВТОЗАМД ҮҮССЭН ХОХИРЛЫН ХЭМЖЭЭ 1,3 ТЭРБУМ ТӨГРӨГТ ХҮРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/20     BURBERRY БРЭНД 32.6 САЯ АМ.ДОЛЛАРЫН ҮНЭ БҮХИЙ БАРАА БҮТЭЭГДЭХҮҮНЭЭ ШАТААЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/20     ИРГЭДЭЭС ЦУГЛАСАН ХАНДИВААР ГАЛ УНТРААХ ТОНОГ ТӨХӨӨРӨМЖ АВЧЭЭ WWW.DNN.MN  НИЙТЭЛСЭН:2018/07/20     ГААЛИЙН БАЙГУУЛЛАГЫН ТӨСӨВТ ТӨВЛӨРҮҮЛСЭН ОРЛОГО 1.2 ИХ НАЯД ТӨГРӨГТ ХҮРЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ИХ БРИТАНИЙН АЗИ НОМХОН ДАЛАЙН БҮС НУТГИЙГ ХАРИУЦСАН САЙД МАРК ФИЙЛД МХБ-Д ЗОЧИЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ЭКО АЛТНЫ УРАМШУУЛЛЫГ МОНГОЛБАНК ОЛГОХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/20     ЯМАШИТА МАМОРҮ: МОНГОЛД ДУНДАЖ ЦАЛИНГ ТЭТГЭВРИЙН ХЭМЖЭЭТЭЙ УЯЛДУУЛЖ ТООЦОХ МЭРГЭЖЛИЙН БАГ ХЭРЭГТЭЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/20     ХЯТАД УЛС БИЗНЕСИЙН ОРЧНОО САЙЖРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/19    

Events

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

NEWS

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Asia stock markets lifted as oil passes $50 a barrel www.bbc.com

Asian share markets are higher after oil prices rose above $50 a barrel on speculation major producers are going to reduce output.
Crude prices have risen by more than 20% from its August low, meaning oil has swung back into a so-called bull market.
Japan's Nikkei rose 0.44% at the open to 16,558.38 while the broader Topix gained 0.4% to 1,296.26.
Australia's S&P/ASX 200 is 0.2% higher while New Zealand is trading flat.
South Korea's Kospi edged up 0.1% in Seoul.
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Turkey may face gas shortages if Russian pipeline not built ‘immediately’ www.rt.com

Ankara should implement Gazprom’s Turkish Stream pipeline as soon as possible, or face problems with natural gas supplies after 2019, according to Ali Şen, chairman of Bosphorus Gaz, a major importer from Russia.Şen is warning that the Russia-Ukraine gas transit contract expires in 2019 and may not be renewed. Turkey gets 14 billion cubic meters of gas per year through the route.
 
“The Turkish Stream project must accelerate. According to the existing contract, gas flowing into Turkey through the Western Line [through Ukraine] will be cut on January 1, 2019. We will have gas shortages if we don’t start working on alternatives now. We don’t have any more patience for more delays,” Şen said in an interview with Anadolu Agency.
 
The Turkish Stream pipeline is intended to deliver gas from the Russian Black Sea coast to Turkey and on to Greece. The project was shelved in 2015 after Turkey shot down a Russian warplane in Syria, but the recent rapprochement between Moscow and Ankara has given the pipeline new life. The capacity is 32 billion cubic meters (bcm), of which Turkey would take about 14 bcm, with the rest going to Europe.
 
Russia is Turkey’s biggest natural gas supplier, selling 28-30 bcm annually for about $6.5 billion. Bosphorus Gaz buys about 3 bcm from Russia.Besides the route through Ukraine, Turkey pumps up to 16 bcm of Russian gas through Blue Stream, another Black Sea pipeline. If the Russia-Ukraine gas transit contract is not extended, the Turkish Stream pipeline not built, and there are technical issues with Blue Stream, Turkey will face a gas shortage.
 
“In the Blue Stream project, pipes sometimes run for more than 2,000 meters under the Black Sea. It would also be a serious problem for gas supply if there was a technical issue. This is another reason why we should start working on Turkish Stream right away,” Şen said.
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Authorities investigate after Tesla car catches fire www.reuters.com

Tesla is working with French authorities to find out why one of its electric cars burst into flames during a test drive.
The four passengers were able to get out of the Model S 90D unharmed, Tesla said.
The incident happened in the area of Biarritz and Bayonne, in the south west of the country.
It comes about three years after the firm's shares dropped following other fires in its Model S cars.
Footage of the incident was caught on camera by witnesses.Three people and a Tesla employee were in the car during the fire earlier this week.
According to local media, the driver had signed up for a test drive on Facebook.
He accelerated on one of the town's main roads when a loud sound was heard coming from the car, the newspaper Sud-Ouest reported.
"In less than a minute, the car was in flames and, in five minutes, it was totally destroyed," the driver, named as Nicolas, was quoted as saying.
A Tesla official said: "Nobody was harmed. The vehicle provided warning and passengers were able to safely exit the vehicle."
"We are undertaking a full investigation and will share our findings as soon as possible," the official added.
In 2013, two instances of Tesla cars catching fire were recorded by US federal regulators, according to Agence France-Presse.
In each, the cars hit debris on the road that pierced the chassis and caused a battery fire.
Both cars were gutted by flames, although the drivers in each incident escaped unharmed.
A third case was also reported in Merida, in Mexico
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Russian court rejects Google appeal against antitrust fine www.rt.com

A Moscow court has rejected an appeal from Google against the $6.75 million fine imposed on the company by Russia's Federal Antimonopoly Service (FAS).The FAS fined the US tech firm for forcing smartphone producers to pre-install its services on gadgets and not allowing third-party services, such as Yandex’s search facility, to be pre-installed on Android-run devices. Yandex, Google’s rival on the Russian market, had filed a lawsuit in 2015.
 
“Leave the court's decision unchanged, the complaint is turned down,” said the court decision.
 
Last Thursday, the FAS imposed a 438-million-ruble ($6.75 million) fine on Google.
 
On Tuesday, the watchdog said it had failed to reach a settlement with the American tech giant.
 
According to the FAS, it is waiting for "fair conditions for effective competition in the rapidly growing market for mobile applications."
 
The watchdog demands that Google remove the obligation to pre-install its services such as Google Maps, Gmail, Chrome and to pre-set Google as the default search engine on Android-run devices.
 
Google retains the right to appeal the decision to a higher court, said FAS spokeswoman Anna Orlova.
 
Google services are used by 20.5 million Russians every month, while Yandex has 20.4 million users. However, Yandex is more popular as a homepage (12.3 million), while Google is only in third place, with 11 million users, behind social network VK.com’s 12.1 million.
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Lenovo quarterly profit rises 64% despite 'challenging' industry www.bbc.com

The world's biggest personal computer-maker, Lenovo, said first-quarter earnings rose 64% to $173m (£132m), beating market expectations.
The Chinese firm said its PC business had delivered "strong profits" despite a slowdown in the overall market.
However, revenue fell by 6% from a year earlier to $10.1bn in the three months to June.
Lenovo attributed that to the "challenging" environment and the decline in China's currency.
The Chinese firm has been aggressively cutting costs and investing in new growth areas such as cloud computing.
"Our PC business delivered strong profits and our smartphone business stabilised compared to last quarter," Lenovo chairman and CEO Yuanqing Yang said in a statement.
"Although the macro-economy and our industries remain challenging, causing a decline in our revenue, we significantly improved our profit year-on-year through innovative products and strong execution," he said.
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Kiev estimates damage from Kremlin trade restrictions at $1bn www.rt.com

Ukraine's economy will lose nearly $1 billion this year due to Russian trade restrictions, according to the country's deputy economy minister, Natalya Mykolska.“Speaking in terms of year-to-year losses due to extended restrictions on transits to Kazakhstan and Kyrgyzstan, we will lose $400 million with GDP losses of 0.3 percent,” Mykolska said.
 
The deputy minister stressed that the department has estimated only direct losses, not considering the revenues lost by Ukraine’s carriers, package makers and logistics sector.Ukraine’s exports to Russia have shrunk by 36.2 percent within five months compared to the same period a year ago, according to Mykolska.
 
“Exports to Kazakhstan started falling in January with May statistics revealing 46.2 percent drop, or $136.4 million,” the official added.
 
Kiev is reportedly developing alternative cost-cutting plans to deliver Ukrainian goods to Kazakhstan and Kyrgyzstan, as ferry services turned out to be unprepared for sizable cargoes.
 
Kremlin introduced an embargo on Ukrainian food products on January 1, 2016, after Kiev joined the anti-Moscow sanctions imposed following Crimea’s reunification with Russia. Last month, President Putin extended the measures till the end of 2017.Russia also imposed temporary restrictions on the transit of Ukrainian goods via its territory to Kazakhstan and Kyrgyzstan.Kiev introduced mirror measures against Russia and appealed to the World Trade Organization, urging Moscow to lift the restrictions.
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Japan shares fall as exports mark a tenth monthly decline www.bbc.com

Japanese share markets are falling after data showed exports fell for a tenth consecutive month and continue to drag on economic growth.
Overseas shipments dropped 14% in July from a year earlier, missing economist estimates for a 13.7% decline. Imports fell 24.7%.
Japan's trade surplus shrunk marginally to 513.5bn yen ($5.2bn;£4bn).
The benchmark Nikkei 225 opened 0.6% lower to 16,649.91 while the broader Topix index shed 0.7% to 1,302.29.
The export and import drops were the sharpest since 2009 and is mostly the result of the stronger exchange rate, according to Capital Economics.
"Looking ahead, we expect the yen to weaken against the dollar towards the end of the year, so the annual growth rates of export and import values should start to recover in coming months," its senior Japan economist Marcel Thieliant said.
"But with external demand sluggish, trade volumes are unlikely to stage a strong rebound."
Other Asian markets are also trading lower after Federal Reserve minutes diminished expectations of an interest rate increase next month.
Australia's S&P/ASX 200 fell 0.3% and futures indicate lower opens in Greater China.
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What Brexit? UK jobless rate falls to 11-yr low www.rt.com

The number of unemployed Britons fell by 52,000 to 1.64 million in July as the country’s labor market showed no signs of adverse effects from the vote to leave the European Union.The unemployment rate remained at 4.9 percent in the three months to June, according to official data released by the Office for National Statistics (ONS) on Wednesday.Average earnings grew 2.4 percent compared with a year earlier, with total pay excluding bonuses rising 2.3 percent, the ONS reports.The latest data also shows that the claimant count – which measures the number of people claiming for unemployment-related benefits – fell by 8,600 against a previously projected 9,500 increase. Overall, 172,000 people joined the workforce during the period covered.
 
The unemployment data followed Tuesday’s inflation rate update which revealed consumer prices index (CPI) growth was a higher-than-expected 0.6 percent in July.
 
Data published by the agency last month showed the unemployment rate in the UK was lower in the three months to May, reaching 4.9 percent – the lowest since 2005 with average wages rising 2.3 percent year-on-year.The unemployment level, seen as one of the major indicators of Brexit-vote impact on the country’s economy, will be continuously observed by the economists in the coming months. According to analysts, the full effects of the historic decision on employer confidence and hiring prospects are still to be seen.
 
The pound sterling posted brief gains following the announcement, reaching 1.3069 against the US dollar.
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Cisco to cut up to 5,500 jobs www.bbc.com

US tech giant Cisco Systems is cutting up to 7% of its global workforce, or 5,500 jobs, starting this summer.
A report had suggested earlier in the day that the firm could cut as many as 14,000 jobs worldwide.
Cisco said it was taking the "decisive" move so it could reinvest in faster-growing areas such as security and cloud computing.
The US company employs about 70,000 people globally, with around 5,000 in the UK.
"Today's market requires Cisco and our customers to be decisive, move with greater speed and drive more innovation than we've seen in our history," the company said in a statement.
Cisco plans to reinvest the money saved from the job cuts in "key priority areas" for the company, including developments in the "internet of things" (connecting everyday objects to the internet), next generation data centres and cloud computing technology.
Acquisitions
Cisco's traditional business of selling network switches and routers has struggled in recent years as demand from telecom carriers has fallen and competition from other suppliers has increased.
In the fourth quarter revenue from the router unit fell 6%, while revenue at the switch unit grew by only 2%.
The company has focused more of its attention on its firewall business that offers computer protection software.
It has also devoted more resources to acquiring other businesses. In the last year Cisco has purchased 10 companies, many of which offer cloud-based services to connect or secure internet enabled equipment and devices.
Overall, Cisco reported a $2.8bn (£2.1bn) profit for the fourth quarter, up 21% from the same time last year.
It is the second tech giant this year to announce major layoffs.
In April, competitor Intel announced it was cutting 12,000 jobs or 11% of its global workforce.
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Eastern Europe wants countrymen back as emigrant tide hurts GDP www.rt.com

Twenty-one countries in Eastern and Central Europe want their citizens to return from abroad as emigration has led to a 7 percent drop in GDP. According to the IMF, the figure could grow to 9 percent if the trend continues.
Countries such as Latvia, whose population has been falling since the early 1990s due to low birth rates, have seen hundreds of thousands of people emigrate. After Latvia joined the European Union in 2004, many people left the country to seek a better life in the bloc’s more prosperous states.
 
Overall, the Baltic region has been hit most by the trend. Latvia and Lithuania have seen 0.6-0.9 percent of their GDP shaved off annually by emigration.
 
According to the IMF, Eastern European migrants’ education levels tend to be higher than their home country averages.
 
This has inspired a Latvian institute to launch the ‘I want you back’ campaign, inviting Latvians to tell their relatives and friends abroad they are welcome to return to the country."The initiative concerns our relationships with our relatives, friends and people close to us that are abroad, and [aims to] tell them clearly and directly – ‘I want you back,’” the initiative’s leader, Aiva Rozenberga, told national radio.
 
Latvian residents are being encouraged to use the hashtag #GribuTeviAtpakaļ (“I want you back” in Latvian) on Twitter and other social networks.
 
“The diaspora living abroad represent a huge untapped potential for their countries of origin,” Lithuania-based economist Rokas Grajauskas, working for Danske Bank, told Bloomberg.
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