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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ALibaba’s Jack Ma visiting Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ Founder and executive chairman of the Alibaba, a family of successful internet business, Mr Jack Ma is visiting Mongolia at the invitation of Asashyoryu D.Dagvadorj. He arrived on July 24, and is to give a lecture at the Shine Mongol high school for young people on July 27.

On Monday, the 68th grand champion of professional sumo “Asashyoryu” Dagvadorj posted about this on Twitter.

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Nintendo shares plunge on Pokemon profit warning www.bbc.com

Shares in Japanese gaming giant Nintendo have fallen sharply after the firm said Pokemon Go's success would have a limited impact on its earnings.

Nintendo shares dropped by over 15%, after they more than doubled in value since the 6 July game launch.

Pokemon Go was developed by US firm Niantic and Nintendo said profits from licensing and fees would be limited.

The fall came as Japanese shares overall opened with solid gains boosted by strong US trading last week.

Friday saw the S&P 500 reach a record high shrugging off poor earnings results.

Tokyo's Nikkei 225 index was 0.9% higher at 16,776.55 with investors also pinning their hopes on a fresh round of stimulus from the Bank of Japan later this week.

In China, Hong Kong's Hang Seng was up 0.2% at 22,017.14 while the mainland Shanghai Composite remained flat in early trade.

In South Korea, the benchmark Kospi edged up 0.4% to 2,017.51 points.

Australia's ASX/200 rose by 0.6% to 5,532.40 points.

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Monthly economic report warns of Brexit impact www3.nhk.or.jp

The Japanese government kept its economic assessment unchanged in July, but warns of rising uncertainties following Britain's decision to leave the European Union.

The monthly report by the Cabinet Office says the Japanese economy is on a moderate recovery, while weaknesses have recently been seen.

Officials kept their assessments unchanged for most component items. They say private consumption is almost flat, while business investment is picking up.

But business sentiment was downgraded. The report says companies are becoming cautious, due to a stronger yen and increasing uncertainties in overseas economies.

Following the Brexit vote in June, the report calls for vigilance against rising economic uncertainties, as well as to the effects of financial market volatility.

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Huawei sees revenues surge in the first half of 2016 www.bbc.com

Chinese technology and smartphone giant Huawei has reported a 40% surge in revenue for the first half of 2016.
The firm reported 245.5bn yuan ($37bn, £28bn) in revenues, up from 175.6bn yuan for the same period last year.
It did not disclose its net profit but said the operating margin was 12%, down from 18% in the first half of 2015.
Huawei is the third-biggest smartphone vendor in the world behind Samsung and Apple and one of the world's largest telecommunications firms.
Originally known for its low-cost smartphones, Huawei has now moved into higher-end models.
The company said it had seen steady growth across all its business sectors.
Patent feud
The firm is currently in a long-standing patent dispute with South Korean rival Samsung.Samsung on Friday sued Huawei for alleged patent violation, the latest development in a series of disputes between the Asian smartphone giants.
The South Korean company said it took legal action to defend its intellectual property despite efforts to resolve the dispute amicably.
The court case comes after Huawei had sued Samsung over patent issues in May.
Huawei, based in Shenzen, has long been blocked from running broadband projects in the US and Australia. Its telecommunications devices for carriers, such as routers, are effectively banned in the US over fears they could be used by Beijing to spy on Americans.
Its other businesses, such as consumer electronic products -including mobile devices - are allowed in the US, but the firm has struggled to grow its presence there.
 
 
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June trade balance in black www3.nhk.or.jp

Japan's trade balance in June was in the black for the first time in 2 months. Low crude oil prices have pushed down the overall value of imports.

Officials at the Finance Ministry say the trade surplus was 693 billion yen, or about 6.5 billion dollars.

The value of exports shrank 7.4 percent from a year earlier. Steel was down 24 percent.

Imports also fell. They were down nearly 19 percent.
Crude oil, natural gas and other mineral resources plunged more than 30 percent.

The trade balance for the first half of this year has turned out to be 17 billion dollars in the black. That's the first biannual surplus since the latter half of 2010.

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No takers in Ukraine's privatization sale www.rt.com

Ukraine has failed to sell its largest ammonia maker, with no bids for the company, according to the State Property Fund (SPF).
 
The government wanted to sell a 99.567 percent stake in Odesky Pryportovy Zavod (OPZ), and was expecting to raise at least $600 million (15 billion hryvnia).
 
According SPF chief Igor Bilous, investors balked due to the number of reasons, such as the plant’s $193 million debt to agricultural company Group DF, a lack of tax benefits, restrictions on dividend payout, as well as the high cost of the enterprise.
 
The plant is currently in litigation with a company called Nortima that is supposedly owned by Ukrainian tycoon Igor Kolomoisky. In 2009, Nortima offered the highest of three bids in a privatization tender, but the SPF refused to recognize Nortima as the winner, saying the price of $600 million (5 billion hryvnia at the time) was too low.
 
“Potential investors were interested in the plant, but after they studied the package of documents and studied the situation in Ukraine and around the facility, they said they were not prepared to take part in the auction under the given conditions,” said the SPF.
 
The OPZ ammonia plant posted a net profit of 211 million hryvnia ($8.5 million) last year with a net loss of 419 million hryvnia ($16.9 million) in the first quarter, compared to a profit of 90 million hryvnia ($3.6 million) a year earlier.
 
The government’s privatization program aims to improve the companies’ efficiency and ease investors’ concerns over corruption on the state sector of the Ukraine’s economy.
 
In February, the Ukrainian parliament adopted a law for the sale of state assets following the suspension of the privatization of some of the country’s main businesses, including power utilities.
 
Another attempt to sell the plant could be made in the fall, according to Bilous. “I hope the decision to retry the privatization of Odesky will be made in the near future,” he said, stressing that all the risks around the plant and in Ukraine in general had their price.
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UK explores multi-billion pound free trade deal with China www.bbc.com

Chancellor Philip Hammond has begun discussions with China on an ambitious free trade deal which could see greater access for major Chinese banks and businesses to the UK economy.
The Chancellor told the BBC it was time to explore "new opportunities" across the world, including with China, one of the UK's biggest inward investors.
That is despite a short term economic shock from leaving the European Union.
He added that the EU is not in "punishment mode" over the Brexit vote.
"What we now need to do is get on with it in a way that minimises the economic impact on the UK economy in the short term and maximises the benefit in the long term," Mr Hammond said, admitting that there had been "global disappointment" about the Brexit vote.
Chinese state media reported earlier in the month that the Chinese Ministry of Commerce wants to do a UK free trade deal.
Mr Hammond has now revealed that Britain is also keen.
It will be the first time the UK has embarked on such a major project with the second largest economy in the world.
And will raise concerns about cheap manufactured goods entering the UK more easily.
'More opportunity'
In return for greater access to the UK for its manufactured products and investment, China would reduce barriers to Britain's service industries like banking and insurance as well as UK goods.
That would be an important source of export income for Britain.
"The mood music that I have heard here is very much that this will mean more opportunity for countries like China that are outside the European Union to do business with Britain," Mr Hammond said.
"And as Britain leaves the European Union and is not bound by the rules of the European Union perhaps it will be easier to do deals with Britain in the future."
I asked if that could mean a free trade deal, bilaterally agreed with China which invested over $5bn (£3.8bn) in the UK in 2014.
"Definitely I could see such a thing," Mr Hammond told me at the meeting of G20 finance ministers in Chengdu, China.
"We already have a strategic partnership with China.
"We have hugely increased our trade with China, investment both by British companies into China and by Chinese entities into the UK.
"That's about as far as we can go while we are members of the European Union.
"But once we are out of the European Union then I have no doubt on both sides we will want to cement that relationship into a firmer structure in a bilateral way that's appropriate.
"That's something we will have to explore in the future."
'Steel dumping'
Mr Hammond said it would be "certainly appropriate" to start discussing a new deal over the next "couple of years" and the issue was raised here at Chengdu.
What might a deal - which could only come after Britain had officially left the EU - look like?
Senior government sources have told me that officials are looking at New Zealand's free trade agreement with China which took four years to negotiate and came into effect in 2008.
Care would have to be taken over security concerns and the possibility of China "dumping" cheap imports in the UK - for example steel.
'Punishment mode'
As well as a positive reaction from China, Mr Hammond said that he did not believe that the EU was trying to teach the UK a lesson over the Brexit vote by making negotiations over trade difficult.
"I don't think they are in punishment mode," he said.
"This is a meeting of finance ministers and central bank governors and, as you would expect, they are very much focused on the economic challenges and the economic prizes available.
"I have no doubt that everyone would want to see a very close relationship between the UK and the EU going forward because that will be good for the economies of the European Union and the economy of the UK.
"The challenge for us is to make sure that other politicians who are not so narrowly focused on the economic agenda also share that view and recognise that it is important not just for Britain but for Europe as well that we continue working closely together."
No project better sums up how investment in major infrastructure projects is now a global issue than Hinkley Point, the £18bn plan for a new nuclear power station in Somerset backed by France's EDF energy company and one of China's main nuclear suppliers.
Mr Hammond said that the government still supported the project, and that a final agreement would be signed "hopefully over the next few days" after an EDF board meeting to agree the details.
At the G20 many countries are now moving into practical mode - the Chancellor campaigned against leaving the EU and China argued against it, but Mr Hammond has clearly signalled that is now a matter for the history books.
The British public have spoken.
The present challenge is seeing how the fifth largest economy in the world can take advantage of that decision, rebuilding a "close" trading relationship with the EU and new economic relationships with countries, like China, which, it should be remembered, has never had a free trade agreement with any EU country.
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Britain's steel city signs $1.3b investment deal with Chengdu www.chinadaily.com

LONDON - Leaders of the Yorkshire city of Sheffield, famed for its steel industry, announced on Thursday a 60-year partnership with Sichuan Guodong Construction Group, one of the largest companies in China's Sichuan province.
 
The city council officially announced the deal on its website Thursday following the return to the city of the council leader and deputy leader from a visit to Chengdu, Sheffield's sister city.
 
"We are today announcing a 60-year partnership agreement with Sichuan Guodong Construction Group worth over 1 billion pounds ($1.32 billion)," said the council in its announcement.
 
The first tranche of funding associated with the agreement is worth $292 million and will fund four or five Sheffield city center projects over the next three years, the council said, adding the exact projects that the investment will fund are yet to be determined.
 
Councilor Julie Dore, leader of Sheffield City Council, said it is the biggest Chinese investment deal to be made by a British city outside of London.
 
"This is a real partnership. The projects funded by this investment will be determined by Sheffield City Council, and the 60-year commitment secures a stream of investment into our city for the next generation, and means a whole range of projects become viable because of the long-term nature of the relationship," she said.
 
"We are clear that this will create hundreds, if not thousands, of additional jobs for the people of Sheffield. The investment comes from China, but the workforce on these projects will be British," said Councilor Leigh Bramall, deputy leader of Sheffield City Council.
 
"This agreement is ground breaking. It will see the resources made available to deliver the vibrant, growing city center our city needs. This will make Sheffield even more attractive to inward investment, create jobs and enable us to compete with other big cities," he added.
 
Sheffield City Council has also recently signed co-operation trade agreements with Daqing, the leading center for the oil and gas industry in China, and the city of Nanchang, to boost trade between local companies in the Yorkshire city and China.
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30,000 km expansion of rail network planned www.chinadaily.com

Nation also intends to transform high-speed rail industry into an economic driving force.
 
China intends to build 30,000 km of train tracks by the end of 2020, extending the total length of its railways to 150,000 km, a Ministry of Transport official said on Thursday.
 
Some 11,000 km of these railways will be for high-speed trains, yielding a total of about 30,000 km of high-speed rail, Zhang Dawei, deputy head of the ministry's planning department, said at a news conference in Beijing on Thursday.
 
"We will accelerate the construction of railways in central and western parts of China. We will also boost the expansion of intercity and suburban rail links," he said.
 
"By the end of 2020, more than 80 percent of mainland cities with populations of at least 1 million will be covered by high-speed railways."
 
On Wednesday, the National Development and Reform Commission issued a national railway development plan that envisions a 175,000-km rail network by the end of 2025. Under the plan, China will have 38,000 km of high-speed railways by then.
 
According to the NDRC, the country had an operational rail length of 121,000 km by 2015, and 19,000 km of that was high-speed. More than 60 percent of the world's high-speed rail is in China.
 
China Railway Corp said that since 2008, when the nation opened its first high-speed line, connecting Beijing and Tianjin, more than 5 billion passenger trips have been made on Chinese high-speed railways and passengers on high-speed lines increased by 30 percent annually.
 
About 4,200 bullet trains run in China each day, providing more than 4 million passenger trips, the industry giant said.
 
Wang Xianqing, director of the Institute of Logistic Economics at Guangdong University of Finance and Economics, said the central government has regarded high-speed railways as strategically important.
 
"The government plans to boost industries involved in high-speed rail and turn them into a new economic driving force," he said. "The new railway development plan encourages private enterprises to invest in railways, which will generate opportunities for them."
 
The rapid growth of high-speed rail in China has largely stimulated the formation of economic clusters and real estate development, he said.
 
In addition to the expansion of the railway network, China is also developing a next-generation bullet train that can run as fast as 400 km/h, said Jia Limin, a professor at Beijing Jiaotong University and the head of the national high-speed railway innovation program.
 
The ultrafast train will be able to adjust its wheels to fit various gauges on foreign tracks, making it more suitable for cross-border service than today's trains, Jia said.
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End of an era; Japan stops making VCRs www.asia.nikkei.com

TOKYO -- The ship has sailed on the VHS tape as Japan's Funai Electric has announced it will end production of home videocassette recorders in July.
 
Funai, the last remaining VCR manufacture in the country, made the decision due to smaller demand and limited parts availability for the analogue device. Panasonic and other once-leading brands had already withdrawn from the VCR market.
 
Since it began making VCRs in 1983, Funai has manufactured the product in China for sale in North America and other parts of the world, mainly under the Sanyo brand, now a unit of Panasonic.
 
It used to sell as many as 15 million units annually. But the number shrank to 750,000 last year as magnetic recording has been replaced with optical media, for DVDs and Blu-ray discs.
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