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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Mongolia and China agree to move major projects forward www.montsame.mn

Beijing /MONTSAME/ Mongolia and China agreed to mark the 70th anniversary of diplomatic relations, which will fall next year, with a grand celebration.

The matter was touched upon during the official talks between Prime Minister U.Khurelsukh and Chinese Premier Li Keqiang on April 9 in Beijing. The sides exchanged views on broadening bilateral cooperation in political, economic, trade and humanitarian spheres and international and regional matters.

While expressing mutual satisfaction with the development of bilateral relations in line with mutual respect of national independence, sovereignty and territorial integrity of the two countries, the Prime Ministers of Mongolia and China expressed their readiness to maintain the frequency of mutual high-level visits and intensify political and parliamentary exchange.

Within the objective to increase bilateral trade turnover to USD 10 billion by 2020, the dignitaries agreed to intensify operations of cooperation mechanisms, correlate development strategies, eradicate non-tariff barriers in bilateral trade, strengthen cooperation in industrial capacity and investment and reinforce the implementation of projects focusing on economic development and household livelihoods. For instance, the sides reached agreement on launching Chinese Government-funded projects in the nearest future, including on the Ulaanbaatar Wastewater Treatment Plant and ger area re-planning .

The sides also emphasized the potentials in bilateral cooperation on sectors such as agriculture, energy, mining and transit transport and backed the activation of relevant dialogue by corresponding bodies. Furthermore, the Prime Ministers expressed their commitment towards the development of trilateral cooperation with Russia and moving forward the priority projects between the three countries. 
Kh.Aminaa

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China, Mongolia to explore free trade agreement www.reuters.com

SHANGHAI (Reuters) - China and Mongolia should begin research into a free trade agreement and speed up the launch of a cross-border cooperation zone in a bid to make use of the two countries complimentary advantages, Chinese Premier Li Keqiang said Monday.

According to the official Xinhua news agency, Li told Mongolian Prime Minister Ukhnaa Khurelsukh in Beijing the two sides should work together more in industry, agriculture and animal husbandry, energy and minerals, transportation, pollution control and infrastructure construction.

Landlocked Mongolia sells the bulk of its exports to China, its southern neighbour, and it has also been trying to make greater use of China's transport network as well as its commodities exchanges in order to gain access to foreign markets.

Mongolia aims to become a "transit corridor" to facilitate trade, as well as oil and gas deliveries, between Russia and China, and has sought funding for transportation projects from the China-backed Asian Infrastructure Investment Bank.

But some nationalist politicians in Mongolia remain suspicious of Beijing's intentions, and have expressed concern that China's growing economic might could further enhance its political dominance in the region.

(Reporting by David Stanway; Editing by Michael Perry)

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China, Mongolia to promote synergy of development strategies www.xinhuanet.com

BEIJING, April 9 (Xinhua) -- China and Mongolia on Monday agreed to link the Belt and Road Initiative and Mongolia's Prairie Road development initiative to benefit the two peoples.

Chinese Premier Li Keqiang made the remarks while holding talks with Mongolian Prime Minister Ukhnaa Khurelsukh in Beijing.

Li said China and Mongolia are important neighboring countries, good friends and partners, and China appreciates the Mongolian government for reiterating its firm adherence to the one-China policy.

China is willing to work with Mongolia to set the direction of bilateral ties in a strategic height and from a long-term perspective, consolidate political mutual trust, respect each others' core interests and major concerns, maintain high-level exchanges, strengthen parliamentary exchanges, enhance party-to-party exchanges, and communicate more in regional and international affairs, Li said.

Li said he hopes that the development of China-Mongolia ties will benefit both countries and regional peace, stability, and prosperity.

Both China and Mongolia face an important mission to develop their economies and improve peoples' well-being, Li said, noting that China is ready to work with Mongolia to make use of the complementary advantages of their economy.

Li called for initiating feasibility research on a China-Mongolia free trade agreement and speed up the building of a cross-border economic cooperation zone.

Li called on both sides to cooperate more in industrial capacity, investment, agriculture and animal husbandry, energy and minerals, transit transport, shantytown renovation, pollution control, and urban and port infrastructure construction.

Next year will mark the 70th anniversary of establishing diplomatic ties, Li said, calling on both sides to strengthen people-to-people exchanges in youth, culture, media, and tourism to consolidate the social and public opinion foundation for China-Mongolia friendship.

Khurelsukh said Mongolia gives priority to the friendly relationship with China in its foreign policy, and the Mongolian government firmly adheres to the one-China policy.

Mongolia agrees that Tibet and Taiwan are inalienable parts of the Chinese territory, and issues concerning Tibet and Taiwan are China's internal affairs, Khurelsukh said.

Khurelsukh said Mongolia is willing to work with China to enhance political mutual trust, maintain high-level visits, deepen economic cooperation, integrate their development strategies, and have more pragmatic cooperation.

Prior to the talks, Li held a welcome ceremony for Khurelsukh.

After the talks, they jointly witnessed the signing of several bilateral cooperation documents in fields such as economy and trade, people-to-people exchanges, industrial capacity, and environmental protection.

China's top legislator Li Zhanshu also met with Khurelsukh on Monday afternoon, and both sides agreed to share experience in governance and hold more legislative exchanges.

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Rio Tinto's Mongolian comfort zone is shaken www.afr.com

Confirmation that Mongolia's anti-corruption authority has opened an "investigation" of the historic 2015 $US4.4 billion project financing deal for the Oyu Tolgoi copper mine has sucked Rio Tinto into the vortex of a controversy that started with a Swiss investigation into the contents of a bank account connected to a former Mongolian finance minister.

Ever since it became clear last month that Swiss authorities were taking serious interest in Bayartsogt Sangajav and how he came to fill a Swiss bank account with $US10 million back in September 2008, Rio has been able to take public comfort in the fact that whatever the circumstances were, they occurred at a time before the multinational miner had the capacity to influence negotiations between the government of Mongolia and Oyu Tolgoi's Canadian-listed developer, Ivanhoe Mines.

At the time the claimed payment was made, Rio owned about 10 per cent of Ivanhoe. The Anglo-Australia stepped its way to control by 2012 and, to announce the changed circumstances, it changed Ivanhoe's name to Turquoise Hill.

Confirmation on March 27 from Swiss authorities that neither Rio nor any of its employees was "currently" subject to the continuing corruption investigation appeared to endorse the security of Rio's preferred comfort zone.

Because it now appears that Mongolia's Independent Authority Against Corruption (IAAC) is attempting to link government approvals of a landmark 2015 Oyu Tolgoi refinancing deal with the Swiss investigation into the circumstances that delivered $US10 million to an account connected with Bayartsogt.

There are some that choose to believe that the IAAC's sudden concern over the 2015 agreement is a political confection more than a matter of substance. This view is born from the fact that the activities of the IAAC are formally overseen by the President rather than the parliament.

The presidential incumbent, who was elected in a seemingly chaotic succession of ballots in June 2017, is the Democrat Party's Khaltmaagiin Battulga. But the Prime Minister elected by the parliament last October is Ukhnaagiin Khurelsukh. A well as being a colourful chap whose nick-name has been "The Fist" ever since he punched a colleague in 2012, he is a leading member of Mongolia's People Party.

But if this is politics then they sure do play a hard game in Ulaanbaatar.

On March 31, Bayartsogt was detained by Mongolia's IAAC, apparently as the next logical step in the criminal investigation by the Swiss Office of the Attorney that has seen it take control of the bank account that has been the focus of its inquiries.

But, as they say, there is more.

At the same time as IAAC moved on the man who formally signed of on the 2009 deal that delivered Ivanhoe 66 per cent of Oyu Tolgoi, it also made two more arrests.

The IAAC arrested and detained a former high-level official of the Mongolian tax department, Ariunsan Baldanjav. And it did the same to B. Byambasaikhan, the former chief executive of Erdenes Mongolia LLC, which is the Mongolian sovereign wealth fund that owns the state's 34 per cent of the mine.

Mongolian state television has reported that the prosecutor's office has also submitted a request to interrogate ex-prime minister Saikhanbileg Chimed on his return from the US and it has flagged requests to arrest "several other" officials involved in either or both of the 2009 and 2015 deals.

The IAAC's reported intent is to test whether the authorities involved in those deals had "abused their power".

Now, among many jobs of standing that include running the Mongolian Archery Association, B. Byambasaikhan is also the chairman of the Business Council of Mongolia. Last week the council issued a strongly worded defence of its chairman, who has temporarily stepped down from his official duties.

A statement released in the name of the council's executive committee expressed deep concern on the way the IAAC matters were being reported in the media, "where it appears there is a linkage between the Swiss Bank account matter of 2009 and the signing of the Oyu Tolgoi Underground Development Plan (so-called Dubai Agreement)".

The background here is important.

Having taken control of Ivanhoe and the operation of the Oyu Tolgoi project that flowed from the Canadian's 66 per cent stake in the project, Rio became the primary source of development finance for Mongolia's biggest ever foreign investment.

Then, in May 2015, Rio and the government agreed on the planned underground expansion that will see Oyu Tolgoi become one of the world's biggest copper mines. With the security that came of that agreement, Rio was finally able to lock down a long-based project financing agreement in December 2015. That deal was worth $US4.4 billion.

The facility was supported by a broad syndicate of international financiers that included export credit agencies from Australia, Canada and the United States and 15 commercial banks. Along with EFIC's contribution, the Australian contributors to the funding package were ANZ and NAB.

And who was the Rio executive that was the ultimate overseer for the project finance negotiations? Well, that task fell to the then head of Rio's copper division. His name? Jean Sebastien Jacques.

Jacques, of course, is now Rio's chief executive.

Jacques has made a wonderful fist of the business he took over from Sam Walsh in March 2016. The financials look ever better and the prices achieved in the retreat from coal have been, frankly, pretty staggering. But not all of the winds Jacques inherited have been as kind.

Regulators in Britain, the US and Australia are investigating a $US10.5 million success fee that was paid to the French investment banker that led negotiations with the government of Guinea over the two disputed iron ore leases that host Rio's rich but isolated Simandou project. And that same troika has reviewed the path Rio took to impairing the $US3.7 billion acquisition of coal mines in Mozambique in 2011-12.

Rio paid a $US35 million settlement with the Serious Fraud Office to end the matter in Britain. But the Mozambique matter has left Rio and two senior executives accused of fraud by the US SEC and of misleading and deceptive conduct by the Australian Securities and Investments Commission.

And, even if we discount its latest dramas in Mongolia, things have been tough for Rio there too over the past six months or so. A January blockade on the Chinese side of the border resulted in Oyu Tolgoi seeking protection of force majeure from contracted customers.

Then, just as that situation was resolved, the government confirmed a $US150 million tax dispute with Oyu Tolgoi and its decision to trigger a call in the original investment agreement that requires the miner to build its own power station by 2021. Rio says that could cost up to $US1 billion.
by Matthew Stevens

 
 
 
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President: Mongolia is utilizing its resources, but not effectively www.montsame.mn

Ulaanbaatar /MONTSAME/ President Kh.Battulga has stressed the growing need for optimizing Mongolia's natural resource management policy.

The Office of the President, Development and Democracy NGO and the Konrad Adenauer Foundation Mongolia co-organized a forum on natural resource governance on April 6 at the Tuushin Hotel.

President Kh.Battulga attended the event and delivered opening remarks, in which he cited Mongolia’s ranking in the 2017 Resource Governance Index report by the Natural Resource Governance Institute, where Mongolia received 54 score in revenue management, 40 in state-owned enterprise and 42 in sovereign wealth funds indicators.

“The experts have highlighted the incompliance with resource management laws and regulations in Mongolia although they are existent in sufficient number. The Constitution of Mongolia states that the land, its subsoil, forests, water, fauna and flora and other natural resources shall be subject to people’s power and State protection. Unfortunately, the people are not benefitting from the natural resources today,” said the President, calling for action to reduce the inequality of resource distribution.

“We must reflect on our mistakes and discuss how we can better enforce the policy, which makes this forum a timely event,” President Kh.Battulga said.

The forum was the main event following five workshops addressing natural resource governance in Mongolia. Members of the Landtag of German state Saarland attended the forum.
Kh.Aminaa

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Prime Minister U.Khurelsukh arrives in Beijing www.montsame.mn

Beijing/MONTSAME/ Mongolia’s Prime Minister U.Khurelsukh arrived in Beijing yesterday evening, April 8, to pay an official visit to the People’s Republic of China at the invitation of Li Keqiang, Premier of the State Council.

Today, April 9 China’s Premier of the State Council Li Keqiang will offer an official welcoming ceremony in the Great Hall of the People. Following the ceremony, two PMs will hold official talks and sign official documents.

Moreover, Prime Minister U.Khurelsukh will pay courtesy calls on the Chinese President Xi Jinping and Li Zhanshu, executive chairman of the National People's Congress session presidium.

During the talks and meetings, the two sides will discuss a wide-range of issues on deepening Mongolia-China comprehensive strategic partnership meeting, in particular advancing mutually beneficial cooperation in politics, economy, trade and humanity, and exchange views on regional and mutually interested international matters.

In addition, relations and cooperation documents will be signed today between the government and organizations.
The official visit will continue till April 12.

M.Unurzul

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Czech to provide assistance for winter sports palace www.theubpost.mn

Member of Parliament B.Javkhlan received Ambassador Extraordinary and Plenipotentiary from Czech Republic Jiri Brodsky and exchanged opinions on cooperation in the development of winter sports and the establishment of a winter sports palace in Mongolia.

Brodsky noted that Czech is ready to support to build a new world standard winter sports palace in Mongolia, in collaboration with the Czech Republic’s Hockey Association and other organizations.

“I am confident that traditional friendly relations between our countries will keep developing not only in sports and culture sectors but also in all fields,” he said. Member of Parliament B.Javkhlan noted, “Mongolia is fully capable of developing winter sports. Our athletes are highly valued for their skills in Asia. I am grateful for the cooperation.

The new palace will give opportunities to our athletes to conduct training during all four seasons.”

The meeting was attended by the first Secretary of the Embassy of Republic of Czech Oldrich Zajicek, commercial and economic consultant Iva Sustakova, President of the Skating Union of Mongolia D.Bolormaa, and Secretary of the Mongolian Ice Hockey Federation A.Mergen.

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Russia and Mongolia elaborate new military cooperation program www.armyrecognition.com

Russia and Mongolia are elaborating a new military and technical cooperation program for 2019-2024, Mongolian Defense Minister Nyamaagiin Enkhbold said. According to the Mongolian defense minister, the Mongolian government regards relations with Russia as a priority and is pursuing a policy to establish strategic partnership with Russia.

It will be the third military and technical cooperation program between Russia and Mongolia, he added.

"We are working on a draft of the third medium-term military and technical cooperation program for 2019-2024 with the [Russian] Federal Service for Military and Technical Cooperation," Enkhbold said at talks with Russian Defense Minister General of the Army Sergei Shoigu.

"In addition to other programs for the development of strategic partnership between the two countries, military and technical cooperation will continue under medium-term military and technical cooperation programs," the Mongolian defense minister said.

He thanked the Russian defense minister for military and technical assistance provided to Mongolia and the possibility granted to Mongolian children to study at Russian Defense Ministry cadet schools.

"I’m very satisfied with the results of the meeting with the defense minister. We will work to strengthen the relations between our armed forces and Russia’s Central Military District," Enkhbold said.

"We have agreed that the Russian defense minister will visit us in September this year," he added. According to the Mongolian defense minister, bilateral military and technical cooperation was discussed at the meeting as well.

"We have decided to resume and extend the relevant agreement that expired last year," Enkhbold said. Besides, the officials agreed to increase the number of Mongolian students at Russian military educational institutions, including at the Presidential Cadet School in Kyzyl.

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List of Russian businessmen & companies added to US sanctions www.rt.com

The Trump administration issued an expanded list of sanctions on Friday against Russian businessmen and companies. In all, the Treasury Department included 12 businessmen and the companies they control.

Russian businessmen:

Andrey Akimov – Chairman of the Management Board of Gazprombank.

Vladimir Bogdanov – President of Surgutneftegaz, one of the largest Russian oil companies.

Sergey Fursenko – the president of Zenit Football Club and former Russian Football Union president.

Suleiman Kerimov – majority owner of Russia’s biggest gold producer, Polyus.

Igor Rotenberg – chairman at NPV Engineering, the largest Russian power generating company Mosenergo and Gazprom Bureniye.

Andrey Kostin - VTB Bank president.

Kirill Shamalov – non-executive director of Russia’s biggest petrochemicals company, Sibur.

Andrey Skoch – part owner of the steelmaker Lebedinsky Mining.

Russian companies added to the sanctions list:

Rosoboronexport – Russia’s top defense corporation, involved in trading of a wide range of military and double-purpose products, technologies and services.

En+ is a major Russian energy-related company, associated with the sanctioned tycoon Oleg Deripaska. The company was evaluated at $8 billion at the IPO in London last November, and was the first placement of a Russian company on the stock exchange in London since the introduction of sanctions against Russia in 2014.

United Company RUSAL is the world’s second largest aluminum company by primary production output. The company is linked to En+, which is its largest shareholder with a controlling stake of 48.13 percent.

Eurosibenergo is the second-largest property of En+ and is the largest independent Russian power producer.

The blacklist also includes other companies affiliated with Deripaska, are agriculture company Agroholding Kuban; one of the largest diversified industrial groups in Russia, Deripaska-owned Basic Element, financial company B-Finance Ltd; car, train and plane producer Russian Cars (Russkie Mashiny).

Another notable company in the sanctions list is Renova, a Russian conglomerate with interests in aluminum, oil, energy, telecoms, affiliated with Russia’s 10th richest billionaire, Viktor Vekselberg, who is worth $12.4 billion, according to Forbes.

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Mongolia to open embassy in Kyrgyzstan www.xinhuanet.com

ULAN BATOR, April 6 (Xinhua) -- Mongolia's State Great Khural, or the parliament, said Friday that it had passed a draft resolution to expand its consulate general into an embassy in Bishkek, capital of Kyrgyzstan.

Since Mongolia and Kyrgyzstan forged diplomatic ties in 1992, bilateral ties have been continually developing in the political sphere with reciprocal visits growing increasingly frequent.

There are 18 agreements effectively regulating the two countries' cooperation at present, and more are on the agenda, the Kyrgyz news agency AKIpress said.

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