1 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      2 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      3 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      4 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      5 BIOGRAPHY OF TAVAN TOLGOI RESIDUAL COAL DEPOSITS WWW.ZGM.MN PUBLISHED:2018/07/16      6 NAGOYA BASHO LOSES LAST OF THREE YOKOZUNAS WWW.MONTSAME.MN PUBLISHED:2018/07/16      7 CHINA'S GDP HITS 6.7% IN Q2 OF 2018 WWW.CHINADAILY.COM.CN PUBLISHED:2018/07/16      8 US-CHINA TRADE WAR DIMS BRIGHT FUTURE FOR SEMICONDUCTORS WWW.ASIA.NIKKEI.COM PUBLISHED:2018/07/16      9 RIGHTS GROUPS URGE BETTER TREATMENT FOR MONGOLIA CHILD JOCKEYS WWW.REUTERS.COM PUBLISHED:2018/07/16      10 TPP CHIEF NEGOTIATORS TO MEET IN JAPAN WWW.NHK.OR.JP PUBLISHED:2018/07/16      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     1,5-2 САЯ ТӨГРӨГИЙН ЦАЛИНТАЙ ЖОЛООЧИЙН АЖЛЫН БАЙРНЫ БҮРТГЭЛ ЭХЭЛЛЭЭ WWW.ZINDAA.MN НИЙТЭЛСЭН:2018/07/16     ОЛОН МЯНГАН НИСЭХ ОНГОЦ ШИНЭЭР ҮЙЛДВЭРЛЭХ ШААРДЛАГАТАЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     КРИПТОВАЛЮТЫН ТАЛААРХ ХОРООНЫ БАЙР СУУРЬ ХЭВЭЭРЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/16     ОРОСЫН ЭДИЙН ЗАСГИЙН ӨСӨЛТӨД ДАШТ-2018 НӨЛӨӨЛӨХ НЬ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     ЗҮҮН ӨМНӨД АЗИ ХАНШАА ХАМГААЛЖ ЭХЛЭВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/16     АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРААС 400 ГАРУЙ САЯ ДОЛЛАР ОЛЖЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/16     МОНГОЛЫН ЭДИЙН ЗАСГИЙН БҮТЭЦ ЭМЗЭГ ХЭВЭЭР БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/10     МОНГОЛ, ВЬЕТНАМЫН ГАДААД ХАРИЛЦААНЫ ЯАМ ХООРОНДЫН ЗӨВЛӨЛДӨХ УУЛЗАЛТ БОЛОВ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/10    

Events

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

NEWS

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China warns U.K.: Don't dump $23B nuclear power project www.cnn.com

China has a clear message for Britain: Dump a joint nuclear power project and you'll pay the price.
A deal for a Chinese state-owned company to help build a nuclear plant in southwest England was announced amid much fanfare during a visit by President Xi Jinping last October.
But the $23 billion Hinkley Point project is being reviewed by new British Prime Minister Theresa May, who succeeded David Cameron in the wake of the Brexit vote in June.
That's not sitting well with China.
"Right now, the China-U.K. relationship is at a crucial historical juncture," China's ambassador to Britain, Liu Xiaoming, wrote in an article for the Financial Times.
"I hope the U.K. will keep its door open to China and that the British government will continue to support Hinkley Point — and come to a decision as soon as possible so that the project can proceed smoothly," he added.

His warning comes at a delicate time for the U.K. economy. The Bank of England last week forecast lost growth and higher unemployment as it cut interest rates in response to the decision to leave the European Union.
Having thrown the future of its relationship with its biggest trading partner up in the air, Britain is looking to boost trade and investment ties with the rest of the world.
Liu pointed out in his article that Chinese companies have invested more in the U.K. over the past five years than in France, Germany and Italy combined. China also accounted for just over 3% of U.K. exports last year.

The Hinkley Point B nuclear power plant in southwest England. In October, the UK government struck a deal with France's EDF and China's CGN to build a new plant in the area.
Under the deal announced in October, China General Nuclear Power Corporation (CGN) would have a 33.5% stake in the power plant. France's EDF (ECIFY) will hold the rest.
The bigger prize for China, though, is a related deal to build another nuclear power plant some 60 miles northeast of London, using its own reactor technology. It would have 66.5% of that venture.
May hasn't given much away about her reasons for delaying the decision on Hinkley Point.
But the deal was controversial from the start, with critics warning that giving China access to vital infrastructure could compromise national security. The plan has also come under fire for guaranteeing an electricity price way above market levels.

British media point to an article written by Nick Timothy, one of May's top advisers, warning about China's role in Hinkley Point.
"No amount of trade and investment should justify allowing a hostile state easy access to the country's critical national infrastructure," he wrote when the deal was announced.
That's in stark contrast to Cameron's declaration last year of a "golden era" in China-U.K. relations. His government aggressively courted investment from China.
Many countries, including China, ban foreign investment in huge energy projects. They worry that giving other countries access to such infrastructure could backfire if relations take a turn for the worse.
But China's state news agency Xinhua advised the U.K against taking such an approach in an article last week.
"For a kingdom striving to pull itself out of the Brexit aftermath, openness is the key way out," it said.

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Another change of heart may breathe life into South Stream www.rt.com

Bulgaria has apparently changed its mind again on the energy project to deliver Russian natural gas to Southern Europe. According to Bulgarian Prime Minister Boiko Borisov, Moscow and Sofia could restart the South Stream negotiations.

The Prime Minister said the two countries will create working groups to restore energy cooperation. Among other projects on the table is the Belene nuclear power plant, suspended in 2009.

Brussels opposed the South Stream pipeline, claiming the project violated the European Union's Third Energy Package. The ruling stipulates that the same company, in this case Russia's Gazprom, is forbidden to both provide and transport gas. The pipeline was intended to transport gas from Russia under the Black Sea to Bulgaria, then to Serbia and Western Europe.

In June, Russian President Vladimir Putin said Moscow is still interested in the project, but Gazprom could not proceed due to EU roadblocks.

“How could we spend €9 billion just to have all this metal sink into the sea, without having secured the right to enter Bulgarian territory? But of course, as soon as we realized what was happening, we shut down any further work. We did not abandon the project, we were stopped from implementing it,” said Putin.

After Gazprom cancelled South Stream in December 2014, the company planned to reroute the pipeline through Turkey. The Turkish Stream project was also shelved late last year due to the conflict between Moscow and Ankara after Turkey shot down a Russian warplane in Syria. However, with the thaw in relations between the countries, the project may be given another life.

The renewed activity from Bulgaria is linked to €550 million in compensation to Russia for the cancelled Belene nuclear power plant.

In 2006, Bulgaria contracted Russia's Rosatom to build two 1,000 megawatt reactors at Belene on the Danube River. The project was abandoned after failing to attract €10 billion in investments.

"The arbitration ruling in its essence says that [Bulgarian state energy firm] NEK and Atomstroyexport should sit together and decide whether they will build that reactor, whether they will sell it and be done with it," said PM Borisov after the court decision.

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OT gold production to increase contrary to copper output www.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Mining and Heavy industry Ts.Dashdorj received the leaders of Oyu Tolgoi LLC on August 9, for presentation of the current state of developments of the Oyu Tolgoi Project.

OT was represented at the meeting by Director of Board G.Batsukh and former CEO Andrew Woodley, as well as the Country Director for Mongolia of Rio Tinto S.Munkhsukh and others.

They stated that the company keeps safety and national procurement principles as priorities, and informed that 93 percent of staff are Mongolian citizens, as of the end of the second quarter of 2016. The company prefers to cooperate with Mongolian suppliers, owned by Mongolians for at least 51 percent.

To the Minister’s question on the production performance, the OT leaders stated that copper production is likely to reach 204 thousand tons, slightly lower that the estimation of 208 thousand tons, by the end of this year, while the gold production is expected to go up due to the possibility to extract high grade ores from the second phase of ground mine.

Present were also, the Vice Minister Kh.Badamsuren, A.Undraa MP and the heads of departments and divisions of the Ministry.

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Police Raid IKEA's Russian Headquarters www.themoscowtimes.com

Russian police have raided the Russian headquarters of Swedish furniture company IKEA, local media reported Tuesday.

IKEA, which is currently based in Khimki, northern Moscow, has been involved in a number of long-term legal battles with the Russian government and local business.

A spokesperson for the company said that the searches were an attempt to blackmail the retail behemoth.

“The searches are taking place in relation to the legal dispute over the land. They’re searching for documents from 1993 over land rights. We are providing what is being asked for,” Semyon Shevchenko, a lawyer for IKEA Russia, told the RIA Novosti news agency.

“IKEA has been in Russia for over 20 years and is one of the largest investors in Russia’s economy. We do not plan to give into blackmail, even under such pressure,” he said.

Officers from Moscow region’s economic crimes unit searched IKEA’s offices in April after the regional branch of Russia’s Interior Ministry initiated a criminal case against the retailer on charges of fraud.

The Khimki Collective Agricultural Enterprise (KSPhP) took IKEA to court in 2012, claiming that IKEA had the obtained the offices from them fraudulently during the previous year.

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Dentsu buying Merkle to boost global marketing www.asia.nikkei.com

TOKYO -- Dentsu, Japan's biggest advertising agency, will acquire a majority stake in U.S. data marketing firm Merkle to boost its global marketing operations by taking advantage of the Baltimore-based company's expertise in customer data analysis.
 
Dentsu will buy Merkle shares from Technology Crossover Ventures, an American investment fund for information technology businesses, and other shareholders through its wholly owned British subsidiary Dentsu Aegis Network, the Tokyo-based company said Monday in the U.S. It did not disclose the value of the deal.
 
The transaction is expected to be completed by the end of September. Merkle's founder, management and employees will retain their shares in the company.
 
Merkle logged $436 million in sales last year. It has more than 3,400 employees and 21 operational outlets across the world.
 
The company offers data-based marketing strategies mainly to big businesses seeking such benefits as reinforcing relations with customers and improving the cost-effectiveness of marketing.
 
Dentsu has been on a buying spree, with Dentsu Aegis purchasing more than 80 companies in the past three years. The latest acquisitions include Gyro, a U.S. business-to-business advertising agency, and WIS Performance Media, a Taiwanese electronic advertising company.
 
The Merkle deal is the biggest acquisition by far for Dentsu Aegis and is expected to expand the company's scale of operations and range of services, Dentsu said.
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Alibaba develops VR mobile pay technology www.chinadaily.com

Alibaba Group Holding Ltd said it is developing virtual-reality-enabled mobile payment technology-as the e-commerce giant bets big on VR-driven shopping for future growth and is wrestling with arch rival Tencent Holdings Ltd for supremacy in the booming digital payment market.
 
The Hangzhou-based company confirmed to China Daily on Monday that it is working on the futuristic technology, which could allow users to pay bills in a 3-D virtual world by nodding their heads or making other gestures to log in payment accounts.
 
The revelation of its latest move comes shortly after the company offered a preview of its Buy+ virtual store. Wearing a headset and with two hand-controllers, consumers can get into a 360-degree virtual environment where they can hold, feel and try on bags, shoes and lingerie as they do in real life.
 
Consumers won't-yet-be able to pay using VR.
 
"Consumers of Buy+ can shop in a virtual world, but they will still have to take their headsets off and go back to the real world to pay bills," said Ant Financial, the financial affiliate of Alibaba.
 
"We are working on the VR-driven payment tool to offer a real immersive and complete VR shopping experience," added Ant Financial, the owner of Alipay, the most popular mobile payment tool in China.
 
The company declined to disclose when the new technology will be released, but local media site yicai.com quoted an Alibaba employee as saying that it could possibly be launched as soon as the end of September.
 
In the first quarter of 2016, China's third-party mobile payment tools handled transactions worth more than 5.9 trillion yuan ($885.8 billion), up by 110 percent from a year earlier, data from internet consultancy Analysys International show.
 
Alibaba dominated the industry with a 63 percent market share while Tencent trailed behind it with its WeChat Payment accounting for 23 percent.
 
Experts said the difficulty of developing VR-enabled payment tools lies in how to ensure security while keeping it easy to use.
 
Li Chao, an analyst at research firm iResearch Consulting Group, said it would be hard to persuade shoppers as well as sellers to accept VR-enabled payment tools. "The VR industry is still in infant stage. VR games are still a niche, let alone VR payment. Also when it comes to financial payments, consumers value security more than just being cool," Li said.
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Oil pares near 3-percent gains amid oil glut worries www.reuters.com

Crude prices inched down on Tuesday in Asia, paring gains of nearly 3 percent from a day earlier, as worries over a global oil glut tempered speculation that OPEC would try to restrain output.
 
Qatar's Energy Minister and OPEC President Mohammad bin Saleh al-Sada said on Monday the oil market is on the path to rebalancing despite the recent decline in global oil prices, adding that OPEC was in continuous talks to stabilize the market.
 
OPEC members are to have an informal meeting on the sidelines of the International Energy Forum, which groups producers and consumers, in Algeria from Sept. 26-28. Some OPEC officials had said a revival of talks on a global oil production freeze could be discussed at the meeting if oil prices weaken.
 
The upward momentum was offset by news that the Louisiana Offshore Oil Port in the United States will have an additional 2.5 million barrels in oil capacity by April 2017.
 
London Brent crude for October delivery was down 19 cents at $45.20 a barrel by 0033 GMT, after settling up $1.12, or 2.5 percent, on Monday.
 
NYMEX crude for September delivery was down 19 cents at $42.83 a barrel, after closing up $1.22, or 2.9 percent, on Monday.
 
Market intelligence firm Genscape reported a build of more than 307,000 barrels at the Cushing, Oklahoma delivery hub for WTI futures in the week to Aug. 5, traders said, even as analysts forecast a total U.S. crude inventory drop of 1 million barrels.
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Fair trade commission raids Amazon Japan www3.nhk.or.jp

The Japan Fair Trade Commission has investigated the local unit of American e-commerce firm Amazon.com on suspicion of unfair trading practices.
 
Amazon Japan is suspected of having pressured retailers to offer products at the same or lower prices than they offer on rival sites.
The company allegedly presented retailers with these conditions before they concluded a deal.
 
Amazon Japan officials have declined to comment on the case.
 
Amazon's business practices have also come under scrutiny in Europe.
European Union anti-trust authorities are investigating the firm's e-book business.
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Walmart to buy Jet.com for $3.3bn www.bbc.com

Walmart has announced plans to buy e-commerce site Jet.com for $3.3bn (£2.5bn) in a move that could help boost its online retail sales.
Walmart has been struggling to compete against online retailers like Amazon.
Jet.com has soared in the e-commerce space since it launched in 2015, undercutting some of Amazon's prices.
Doug McMillon, Walmart's chief executive, said the deal would help accelerate the growth of Jet.com and Walmart's own website.
"We're looking for ways to lower prices, broaden our assortment and offer the simplest, easiest shopping experience because that's what our customers want," said Mr McMillon. "We believe the acquisition of Jet accelerates our progress across these priorities."
Walmart will pay $3bn in cash and $300m in stock.
Walmart and Jet.com will remain separate companies, but will co-operate over technology.
Jet.com launched in July 2015 by entrepreneur Marc Lore. Mr Lore sold his last company Quidsi, the parent company of a family of websites including Diapers.com and Soap.com, which was sold to Amazon in 2011 for $545m.
Jet.com started off using a pricing strategy that offered discounts for placing larger orders and charged a $50 subscription fee.
The subscription model was dropped after three months.
"The combination of Walmart's retail expertise, purchasing scale, sourcing capabilities, distribution footprint, and digital assets - together with the team, technology and business we have built here at Jet - will allow us to deliver more value to customers," said Mr Lore.
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China sees effects of coal capacity cuts: Top economic planner www.chinadaily.com

BEIJING - China's top economic planner said on Monday that the country has made progress in reducing excess coal capacity by advancing economic structural reform.
 
Coal output declined 9.7 percent year on year to reach 1.63 billion tons in the first half of 2016, widening from a 5.8-percent drop recorded in the same period last year, said the National Development and Reform Commission (NDRC) on its website.
 
Coal enterprises and major electric power plants saw their coal stockpiles drop as of the end of June, down 8.6 percent and 16.6 percent, respectively, according to the NDRC.
 
The decline in coal stocks resulted in a narrowed decline for major coal business profits, reaching 3.5 billion yuan ($525 million) in the first five months, down 73.2 percent year on year, compared with a 92.5-percent drop in the first quarter.
 
The NDRC attributed the progress to the government's continued efforts in reducing production output, eliminating outdated capacity and promoting mergers, reorganization, and industry upgrades.
 
Meanwhile, coal consumption nationwide edged down 5.1 percent year on year to reach 1.82 billion tons in H1, according to the NDRC.
 
China is the world's largest producer and consumer of steel and coal. The two industries have long been plagued by overcapacity and felt the pinch even more in the past two years as the economy cooled and demand has fallen.
 
The Chinese government made reducing excess capacity a top priority in late 2015 at the Central Economic Work Conference and put it at the center of the 13th Five-Year Plan.
 
China plans to cut steel and coal capacity by about 10 percent -- as much as 150 million tons of steel and half a billion tons of coal -- in the next few years, with funds set aside to help displaced workers.
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