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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China's economic slowdown deepens www.bbc.com

Fresh economic data from China has added to a raft of indicators suggesting the world's second largest economy remains in the doldrums.
Both industrial output and retail sales fell short of expectations for the month of July.
The figures underline China's difficulty of transforming the economy away from factories and exports.
The data come just as economic growth had ever so slightly improved in the second quarter.
Earlier this week though, China's latest trade data had also pointed to a further slowdown.
A spokesman for the National Statistics Bureau said on Friday that the country's economy was still in a period of adjustment and facing downward pressure.
Retail sales were up by 10.2% in July compared with a year earlier - below forecasts and a fall from the 10.6% increase in June.
Economic transformation
Industrial output rose by 6% compared with the same period the previous year and was also weaker than analysts had expected.
Infrastructure spending as indicated by fixed asset investment also fell short of forecasts.
The National Bureau of Statistics pointed to flooding and high temperatures as the part of the reason.
Beijing's aim to rebalance the economy towards domestic consumption has lead to major challenges for large manufacturing sectors with layoffs, especially in heavily staffed state-run sectors such as the steel industry.
Even alternative gauges, such as cinema ticket sales, have recently indicated that consumer spending is not picking up as much as China would hope it to.

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Asia rises on Wall Street's record highs, China data misses forecasts www.reuters.com

Asian stocks inched up on Friday, after a surge in oil prices helped propel Wall Street to record highs overnight, while Chinese economic indicators that missed expectations did not dent gains in mainland shares.
 
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS nudged up 0.2 percent. It was on track to gain 1.9 percent for the week.
 
Both China's CSI300 index .CSI300 and the Shanghai Composite .SSEC rose about 0.5 percent after fixed asset investment, retail sales and industrial output all rose but were below expectations. Both indexes were headed for gains of about 1.4 percent for the week.
 
Fixed asset investment from January to July increased by 8.1 percent from a year earlier, the slowest rate in more than 16 years, compared with expectations for 8.8 percent.
 
July retail sales increased 10.2 percent, versus 10.6 percent the previous month and a forecast 10.5 percent. Industrial output rose 6.0 percent from a year earlier, slowing from June's 6.2 percent and just missing forecasts of 6.1 percent.
 
Hong Kong shares .HSI rose 0.7 percent and were at their highest in more than eight months.
 
Japan's Nikkei .N225 rose 0.7 percent on a slightly weaker yen, and is poised to end the week 3.7 percent higher.
 
South Korea's Kospi .KS11, which touched the highest level since July 2015, was little changed. Australian stocks gained 0.3 percent.
 
The S&P 500 .SPX, the Dow .DJI and Nasdaq .IXIC all closed at historic highs on Thursday for the first time since 1999 on higher crude oil and upbeat corporate results. [.N]
 
The pan-European FTSEurofirst 300 stock index .FTEU3 also jumped, climbing 0.85 percent to its highest close since late May.
 
MSCI's 46-country All World index .MIWD00000PUS held close to a one-year high touched overnight.
 
Supporting investor appetite for risk, oil prices climbed more than 4 percent overnight after a Saudi oil minister hinted at possible action to stabilize prices and triggered a round of buying. [O/R]
 
They retained that momentum on Friday, with U.S. crude futures up 0.5 percent at $43.72 a barrel CLc1, on track to gain 4.5 percent on the week.
 
Global benchmark Brent crude LCOc1 climbed 0.3 percent to $46.18, set to end the week 4.6 percent higher.
 
"Asia Pacific markets are set to finish the week on a high following strong leads from European and U.S. investors," wrote Michael McCarthy, chief market strategist at CMC Markets.
 
"Industrial commodities rose, led by oil, and overnight trading displayed 'risk on' characteristics despite the lack of an obvious trigger. Important data from China may change the course of the trading day."
 
Global markets will also sift through the string of U.S. data, notably retail sales, due later in the session for latest cues about the world's largest economy and whether it is robust enough to withstand further monetary tightening.
 
U.S. retail sales are expected to show a 0.4 percent monthly increase in July, according to the median estimate of 64 economists polled by Reuters. ECONUS
 
In currencies, the dollar rose after San Francisco Fed President John Williams told the Washington Post that the U.S. central bank should raise rates this year because of improving labor market conditions and the likelihood that inflation is heading higher.
 
The greenback inched up 0.1 percent to 102.035 yen JPY= after gaining 0.7 percent on Thursday, and is heading for a 0.25 percent weekly rise. The euro was steady at $1.11375 EUR= after losing 0.3 percent overnight.
 
The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 percent to 95.924, but was on track for a loss of 0.3 percent for the week.
 
The New Zealand dollar slipped 0.1 percent to $0.7202 NZD=D4 after surging on Thursday to $0.7351, its highest in more than a year after the Reserve Bank of New Zealand cut rates by 25 basis points to 2.0 percent, a smaller cut than some investors had expected.
 
The Australian dollar dipped 0.3 percent to $0.7678 AUD=D4.
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UB City and ADB sign agreement on “Establishing the Future Cities Program” implementation www.mongolia.gogo.mn

On August 11. the Administration of the Ulaanbaatar City and the Asian Development Bank (ADB) established a Memorandum of Understanding on implementing Establishing the Future Cities Program.
The MoU was signed by the Mayor of Ulaanbaatar S.Batbold and the Country Director of ADB for Mongolia Yolanda Fernandez Lommen. Establishing the Future Cities in the Asia and Pacific Region is a technical assistance program, being realized in five Asian countries.
In its scope, small projects aiming at promoting the Smart Ulaanbaatar program, improving local financing mechanism, and introducing international platform for endorsing infrastructural investment to Mongolia.
Mayor S.Batbold extended gratitude to the ADB for its consistent collaboration in the UB’s vital problems such as air and soil pollution, public transport and many others. “ADB has become one of the key partners of the UB City in the recent years”, he noted.
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Ikata reactor restarted www3.nhk.or.jp

The Ikata nuclear power plant in Ehime Prefecture, western Japan, has been reactivated for the first time in more than 5 years. It is the third plant to go online under new regulations issued after the Fukushima Daiichi nuclear disaster.

Operator Shikoku Electric Power Company restarted the plant's No.3 reactor at around 9 AM on Friday. It removed the control rods, which are designed to contain nuclear fission reactions.

The reactor is expected to achieve a self-sustaining nuclear chain reaction by Saturday morning if the process goes as scheduled.

The utility plans to begin electricity generation and transmission to the grid on Monday, and start commercial operation early next month.

The reactor had been undergoing final inspections after clearing the new government regulations last year.

It had been offline since a regular inspection one month after the 2011 nuclear accident in Fukushima. It was last rebooted in March 2010.

The utility says the plant's workforce includes personnel who have no experience operating a reactor, as well as veteran workers who have not rebooted a reactor for a long time.

The firm says it will spend more than 20 hours to achieve criticality of the reactor. That's 5 hours longer than the previous reboot.

Two reactors at the Sendai plant in Kagoshima Prefecture, southern Japan, have been operating since last year.

Two reactors at the Takahama plant in Fukui Prefecture, central Japan, were restarted earlier this year. But a court injunction has suspended their operation.

Applications for restarting 21 other reactors at 14 nuclear plants across Japan are being processed at the Nuclear Regulation Authority.

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Alibaba shows strong global growth www.bbc.com

China's Alibaba has seen a sharp increase in international sales, a sign that it is finally making strides outside its home turf.
Its latest results show international sales increased by 123% to 1.1bn yuan ($165m, £127m) between April and June.
However, that figure still made up just 4% of Alibaba's overall revenue.
The e-commerce giant, founded the billionaire Jack Ma, is a well-known name throughout China but has struggled to break into markets like the US.
"They have a lot of room for growth in China, but they need to look at other markets and think about the 10 to 20 year growth," said Hakon Helgesen, retail analyst at the consultancy Conlumino.
Tactics
The company, which is listed in the US, attributed a large portion of the increase in international sales to the purchase of Lazada - a Singapore based e-commerce firm. The deal was completed in mid-April.
Mr Helgesen said this represented a change in Alibaba's strategy from trying to build a presence in established markets like the US - where the company is competing against big name players like Amazon - to focusing on more embryonic markets, particularly in Southeast Asia, where e-commerce sales are large but the market is still developing.
"I expect it will continue to do this through acquisition and this will be more of a change in tactic and a long term decision," said Mr Helgesen.
Alibaba has expressed a clear desire to expand its presence internationally and plan for the next 10 to 20 years.
As growth in the Chinese economy flags, this expansion will be more important.
The company also reported the strongest earnings since it began selling shares on the stock exchange in 2014.
Revenue for the quarter rose to 32.2bn yuan from 20.3bn yuan last year.
Profit dropped by 77% from a year earlier to 7.1bn yuan, but last year's figures were flattered by a big gain from the company separating out its film business.
Mobile growth
Alibaba also increased the number of sales by mobile users. The number of Chinese users buying products on Alibaba through their mobile phones rose to 427 million from 410 million in the three months previous.
"We passed an important milestone this quarter in achieving higher monetization of mobile users than non-mobile users for the first time, reflecting the success of our strategy to stay ahead of the curve by embracing mobile," said Maggie Wu, chief financial officer.
Mobile growth has been a key metric for investors who were concerned about whether the company could make this transition.
On a call with investors after the earnings were released, Alibaba did not address an investigation by the Securities and Exchange Commission (SEC) into its accounting practice.
The SEC is looking into the data reported from Alibaba's Singles Day - its highly popular one-day shopping festival.
Alibaba is also facing a lawsuit from several international luxury brands accusing the company of not policing the sale of knock-off products on its site.
 
 
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Google Fined $7M by Russian Competition Watchdog www.themoscowtimes.com

Russia’s anti-monopoly regulator has fined U.S. technology giant Google 438 million rubles ($6.7 million) for abusing its dominant position in the Russian market.

Google was found guilty of breaking competition laws by forcing phone manufacturers to pre-install its applications with the Android platform after a complaint was filed by a Russian competitor. Google must pay the fine in full within two months, but the regulator insists an out-of-court settlement is still open, .

Google recently moved ahead of rival Yandex as Russia’s most popular online service, the Vedomosti newspaper wrote, attributing the company's success to Google’s Android operating system.

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Dow, S&P and Nasdaq all hit new record highs www.bbc.com

All three major US indexes hit record highs - the first time they have done so on the same day since 1999 - as oil and retail stocks rose.
The Dow Jones rose 117.8 points, or 0.6%, to 18,613.5.
The wider S&P 500 index climbed 10.3 points to 2,185.7, while the Nasdaq was 23.8 points higher at 2,185.7.
A stock market rally since late June has pushed the S&P up 7% in 2016, helped by better-than-expected quarterly results.
However, some investors are concerned about high valuations. The S&P 500 is now priced at about 17 times expected profits, compared with a 10-year average of 14 times, according to Thomson Reuters data.
"I'm a bit surprised to see us hitting record highs again," said Randy Frederick of Charles Schwab in Austin. "We are pretty topped out and we should move sideways for awhile."
Oil prices spiked 4%, with US crude reaching $43.37 a barrel and Brent crude rising to $45.89 a barrel.
Earlier Saudi Arabia's energy minister suggested that petroleum suppliers should cut production to help rebalance global oil prices.
Shares of Chevron climbed 1.3%, while Exxon Mobil was 0.4% higher.
Shares in Macy's jumped 17% after the department store chain said like-for-like sales fell by less than expected in the most recent quarter and announced plans to shut 100 stores.
Rival department stores also saw their share prices climb. Nordstrom's and Dillard's both rose more than 7.5%.
Retailer Kohl's jumped 16% after its profits came in above Wall Street's expectations.
Chinese e-commerce giant Alibaba rose 5% after reporting a 50% increase in quarterly revenues.
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Australia blocks Chinese firm from stake in electricity grid www.bbc.com

Australia's government has preliminarily blocked Chinese and Hong Kong bidders from taking a controlling stake in the country's largest electricity network, citing worries over national security.
In a statement to the media, the Australian Treasurer Scott Morrison has said the foreign investment proposals from Chinese and Hong Kong bidders "were contrary to the national interest."
China's State Grid Corp and Hong Kong's Cheung Kong Infrastructure Holdings were attempting to buy a 50.4% controlling stake in Ausgrid, which is New South Wales's electricity distribution network - the largest in the country.
Neither has commented so far on the blocking of this sale, but undoubtedly the reaction in Chinese media will be one of outrage.
Australia's move comes as the UK has postponed approval for the Hinkley Point nuclear power project, in which China's General Nuclear Power Corporation will have a minority stake, on similar concerns.
The power grid sale, which is reportedly worth around $7.5bn (£5.8bn), would have allowed the Chinese and Hong Kong bidders to acquire the controlling stake in Ausgrid for 99 years.
Ausgrid was appealing to international investors because it is seen as yielding stable and positive returns.
Chinese companies have been on a global acquisition spree, buying up resources and power firms in Asia as I've been reporting. Take the Edra asset in Malaysia for example, which was also not without controversy.
But Australia's Mr Morrison said that during the review process, national security issues were identified in critical power and communications services that Ausgrid provides to business and governments.
Mr Morisson said the bidders need to address these concerns, and that they have until 18 August to submit their proposals to him, at which time a final decision will be made on the project.
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Japan's machinery orders up in June www3.nhk.or.jp

Japan's machinery orders for June rose for the first time in 3 months.
 
The Cabinet Office on Wednesday released the data, which indicates future capital spending by Japanese companies. They say orders rose by 8.3 percent from May.
 
The figure excludes the shipbuilding and power sectors, which tend to see large fluctuations.
 
Orders from manufacturers jumped 17.7 percent in June, as orders for airplane parts rose.
 
Orders from non-manufacturers increased by 2.1 percent, mainly due to demand for rail vehicles.
 
Cabinet Office officials say large-scale orders pushed up the June figure. But they maintained their basic assessment that over the past 3 months as a whole, orders were at a standstill.
 
The officials also released their outlook for the July-to-September quarter. They predict an increase of 5.2 percent from the previous 3-month period.
 
They say the increase will be partly due to the effects of government subsidies.
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BMW to recall nearly 12,000 vehicles in S. Korea for faulty baby seat latch www.xinhuanet.com

SEOUL, German carmaker BMW is required to recall about 12,000 vehicles for faulty baby seat latch, Seoul's transportation ministry said on Wednesday.
 
BMW Korea, the South Korean importer and distributor of BMW brand, will be subject to recalling 11,968 vehicles of 11 models, including X3 xDrive20i, that were produced between Nov. 19, 2010 and April 15 this year, according to the Ministry of Land, Infrastructure and Transport.
 
Welding defect was found from latches for baby seat of the models, raising possibility for baby seat not to be fixed properly, the ministry said.
 
Owners of the vehicles will be allowed to repair free of charge from next Friday.
 
GM Korea, the South Korean unit of U.S.-based General Motors, will be subject to recalling 384 vehicles of Malibu and Alpheon models that were manufactured between July 9 and July 13.
 
Those vehicles have a faulty buckle in back seat belt. Owners of the vehicles can exchange the buckles free of charge from next Wednesday.
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