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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BHP's copper output to bounce back www.mining.com

BHP Billiton (NYSE:BHP) announced Tuesday the company exceeded full year 2016 production guidance for petroleum, copper and metallurgical coal, but came in slightly below its iron ore production target.
 
The suspension of its Samarco joint venture with Vale saw BHP's output on attributable basis miss its revised target by 2 million tonnes at 227 tonnes for the year to end June. The world's number three iron ore producer had previously forecast 237 million tonnes for its financial year.
 
The Melbourne-based company's total output at its Western Australia iron ore operations in the Pilbara grew by 2% to 257 million tonnes, but was also slightly below previous forecasts. BHP expects to produce 265 million – 275 million tonnes in its 2016/2017 financial year in Australia and 228 million – 237 million tonnes worldwide on an attributable basis excluding Samarco.
 
Copper production of 1.58 million tonnes also beat guidance but fell 8% compared to 2015 with the company saying increased throughput at Escondida and strong operating performance only partially made up for lower grades at the mine, the world's largest.
 
For its 2017 financial year the company expects a big boost to copper production to 1.7 million tonnes helped by a 9% jump in output at Escondida, which is 57%-owned and operated by BHP with Rio Tinto holding the remainder.
 
BHP's coking coal operations output grew slightly at 43 million tonnes as record production at its five Queensland Coal mines more than offset the halting of production at Crinum. The company expects to add one million tonnes for 2017. Coal for power generation continues to be cut back and will shrink 7% this year to 32 million tonnes after falling 16% in 2015.
 
BHP's petroleum division produced 240 million barrels during the year, down 6% from last year but above guidance of 237 million barrels.
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Leading US bank invests in London despite Brexit fears www.rt.com

The world's biggest bank by capitalization, Wells Fargo, plans to buy a new London headquarters for about £300 million ($397 million). The US banking giant reportedly wants to increase its presence in the UK capital.

An 11-storey building in the City of London, known as 33 Central, is planned to be completed in the third quarter of next year, according to a statement from the property developer HB Reavis Group as quoted by Bloomberg.

The property with a rooftop garden and views over the River Thames will accommodate about 2,600 people. Wells Fargo employs 850 people across its four London offices. The bank plans to occupy the new location in 2018, according to a spokesperson.

“With this new building in London, we are able to bring our team members together in one location in order to more efficiently and effectively manage our operations,” said Frank Pizzo, Wells Fargo regional president for Europe Middle East & Africa.

The deal goes against concerns over the London office property market after Britain’s shock vote to quit the European Union and the fear that some banks are planning to leave the British capital.

“Many have doubted what will happen to the real estate market after the Brexit vote,” said Marian Herman, CFO of HB Reavis Group, stressing that the completion showed resilience in the market. The firm suggests the deal as one of the largest for the City of London this year.

Employing 269,000 people, US-based Wells Fargo has $1.8 trillion in assets. However, the bank gets 95 percent of its revenue domestically and has a low overseas profile.

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Cloud business boosts Microsoft's quarterly revenue, shares rise www.reuters.com

Sharp growth in its commercial cloud computing business helped lift Microsoft Corp's (MSFT.O) quarterly revenue above Wall Street's expectations, sending the technology company's shares up more than 4 percent in after-hours trading.
 
The new and growing cloud business - essentially selling computing services and storage in its data centers to corporate customers - is one of the priorities for Chief Executive Satya Nadella, who took the helm of the world's largest software company in early 2014
 
Nadella has refocused the company on cloud and mobile in the face of stagnation in its traditional PC-based Windows business.
 
"Only two companies are setting the tone of enterprise computing, Microsoft Azure and Amazon AWS," said Trip Chowdhry, managing director of Global Equities Research, referring to Amazon.com Inc's (AMZN.O) web services unit.
 
"These are the only two initiators in the whole enterprise space that are going to see growth in excess of 80 percent year-over-year for at least two or three years.”
 
Microsoft's revenue in what it calls its "intelligent cloud" businesses, which includes the Azure cloud platform and server software, rose 7 percent to $6.7 billion.
 
Revenue for Azure - which customers can use to host their website, apps or data - grew 102 percent, but Microsoft did not say what the actual revenue figure was.
 
That makes an annual "run rate" of $12.1 billion for cloud-related revenue, up sharply from over $8 billion a year ago. Microsoft calculates run rate by multiplying revenue in the final month of the quarter for its cloud businesses by 12.
 
Despite the surge in revenue, Microsoft is still struggling to increase profit in the capital-intensive cloud business. It said operating profit in its intelligent cloud businesses fell 17 percent to $2.19 billion in the quarter.
 
Microsoft said the drop was mainly due to higher research, development, sales and marketing costs, as it makes investments and acquisitions to "drive cloud sales capacity and innovation."
 
COMING OUT OF DIP
 
Overall, Microsoft posted revenue for its fiscal fourth quarter ended June 30, adjusted for some one-time items, of $22.6 billion, up 2 percent from a year ago. That beat Wall Street's average forecast of $22.1 billion.
 
It reported net income of $3.1 billion, or 39 cents per share, compared with a loss of $3.2 billion, or 40 cents per share, a year earlier. In the year-ago quarter it took a $7.5 billion charge to write down the value of its purchase of Nokia's handset business.
 
Excluding one-time items in the latest quarter, Microsoft reported earnings of 69 cents per share. That was ahead of analysts' average forecast of 58 cents.
 
Sanford Bernstein analyst Mark Moerdler said Microsoft is finally making headway shifting Microsoft Office software clients onto subscription-based cloud services. Office consumer products and cloud services were up 19 percent and Office 365 increased subscribers to 23.1 million during the quarter.
 
"People looked at Office as a product that was going to be in decline," said Moerdler. "We saw a dip, last quarter we came out of that dip, and now we're accelerating out of the dip."
 
Nadella, who announced the company's largest-ever deal last month, striking a deal to pay $26.2 billion for LinkedIn Corp (LNKD.N), has staked Microsoft's future on mobile and the cloud.
 
So far his plan has been well received by investors. Microsoft shares are up 64 percent since his predecessor as CEO Steve Ballmer announced his plan to retire, in August 2013. The S&P 500 is up 31 percent in the same time.
 
Microsoft shares were up 4.35 percent at $55.40 in extended trading on Tuesday.
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Russia to sell nuclear fuel to US www.rt.com

A subsidiary of Russia's nuclear corporation Rosatom has signed its first contract with a US nuclear power plant operator to supply Russian nuclear fuel.
 
"We believe in this project. We know how to make nuclear fuel; it has successfully operated in Western European nuclear power plants. We are not entering the American market with empty hands,” said Rosatom CEO Sergey Kirienko.
 
He added Rosatom is working in collaboration with GE-Hitachi and has already signed a contract to send a pilot batch of Russian nuclear fuel to the US.
 
According to Kirienko, Rosatom sees the importance of the alliance and will provide all the necessary technical details to successfully complete the licensing process with the US Nuclear Regulatory Commission.
 
It has been reported the two countries had agreed to create a joint company to promote Russian nuclear fuel at US nuclear power plants.
 
Rosatom's nuclear fuel subsidiary TVEL and Global Nuclear Fuel Americas will jointly deal with licensing and production of fuel assemblies that will run American nuclear power plants with pressurized water reactors. The fuel assemblies will be produced at the plant in Wilmington, North Carolina.
 
In May, Rosatom said it plans to enter the US nuclear fuel market by 2020 and have 10 percent market share.
 
Russia has a 17 percent share in the global market of nuclear fuel. It fully covers the needs of Russian reactors and also works in 14 other countries, including Finland, Bulgaria, Hungary, Slovakia, Czech Republic, Ukraine, Armenia and China. The value of Russia’s annual nuclear fuel exports exceeds $1 billion.
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Truckmaker Volvo beats earnings forecast, sees U.S. market weaken www.reuters.com

Swedish truckmaker Volvo (VOLVb.ST) reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping U.S. demand for commercial vehicles.

Heavy-duty trucks, where Volvo is competing with Germany's Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE), are benefiting from strong demand across Europe while battling downturns across the Atlantic.

Volvo, which sells trucks under the Mack, Renault and UD brands as well as its own name, scaled back its outlook for North America, saying it expected industry wide sales of 240,000 trucks, down from a forecast for 250,000 given in April.

Weaker markets in the United States and also China, where sales of construction equipment are falling, will test the new leadership team's skill in boosting profitability.

"In the second quarter we were able to continue the improvement of our underlying profitability despite declining sales, thanks to positive cost development," said CEO Martin Lundstedt, a former Scania boss appointed last year. Scania had long boasted some of the best profit margins in the business.

Gothenburg-based Volvo said order intake of its trucks fell 8 percent in the second quarter compared with a 1 percent drop seen by analysts. A 29 percent fall in North American truck orders led the decline.

Volvo shares rose 0.8 percent by 0756 GMT (03:56 a.m. EDT), outpacing a 0.7 percent fall in the in the STOXX Europe 600 Industrial Goods & Services Index .SXNP. The stock is up 12 percent so far this year compared with a 2 percent drop for the index.

"The earnings are really good, and what stands out is primarily the 10 percent operating margin in trucks despite them scaling back output in North America," Handelsbanken Capital Markets analyst Hampus Engellau said. "This is exactly what one wanted to see."

Lundstedt has come on board as Volvo begins reaping the benefits of a 10 billion Swedish crown ($1.17 billion) cost cutting drive intended to make the sprawling group less prone to sharp swings in profitability as cyclical truck markets periodically slump.

The group said adjusted operating earnings rose to 6.13 billion crowns from a year-ago 5.98 billion, beating a mean forecast for 5.64 billion in Reuters poll of analysts.

It reported adjusted operating margin of 7.8 percent compared with a year-ago 7.1 percent and the 7.0 percent seen by analysts.

"The results tells us that Volvo are on track to boost its earnings generation capacity also when demand is not great," said Danske Bank analyst Bjorn Enarson.

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Baidu uncovers trick gambling searches www.chinadaily.com

China's biggest online search engine, Baidu, said on Monday that it had notified police of illegally altered links that redirect users to gambling sites. The links had found their way surreptitiously into Baidu's search results at night.
 
For the past two months, a search after 10 pm for keyword "Grand Lisboa", a well-known casino in Macao, delivers top results linked to online gambling sites marked as commercial promotions. The search results will return to legitimate information about the casino after 9 am, Beijing News reported on Monday.
 
Baidu responded to the report with its own investigation.
 
"Baidu focuses on the credentials of the company registered for promotions. But the contents of promotional websites cannot be monitored in advance. So we make sure every website is screened as soon as they go live," said Gu Guodong, executive director of marketing at Baidu, during a press briefing in Beijing on Monday.
 
On average Baidu screens 470 million pieces of content every day, or 5,000 per second. Computers can eliminate 95 percent of the illegal information, but the rest must go through manual screening. The whole process can take up to four hours.
 
The Nasdaq-listed company admitted that it has to do more to improve the efficiency of such screening to prevent people from posting illegal promotional content.
 
Gambling is illegal on the Chinese mainland. Baidu blocked 8,623 gambling sites and 7,239 gambling-related keywords in the first three months of the year, the company said.
 
To bypass China's internet administration, illegal gambling sites steal the details of a legitimate company to use as registration information on Baidu. For example, eight gambling sites were registered in the name of a car parts dealer in Central China's Henan province, Beijing News reported.
 
A staff member at that company told the newspaper that they had no idea the company's registration information had been stolen and was being used for any sort of online promotion.
 
Baidu said it monitored the illegal activities from car parts company's stolen Baidu account. The gambling promotion appeared at 11 pm on June 25 and was removed by Baidu at 6 am the next day.
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Ms Park’s attendance in person lifts up importance of Mongolia-S.Korea business forum www.en.montsame.mn

Ulaanbaatar /MONTSAME/ In scope of the official visit of the S.Korean President Ms Park Geun-hye, a Mongolian-S.Korean Business Forum was held at Shangri La Hotel of Ulaanbaatar. South Korea is the fourth largest trade partner of Mongolia and the seventh in investment.

S.Korea’s businessmen have been running businesses in Mongolia of public catering, hotels, healthcare and information technology. The Business forum happened to reside in important times of launching of new projects on energy, particularly, in renewable energy.

Some 190 business representatives from the Republic of Korea and 200 businesspeople and state officials from Mongolia took part in the forum, held July 18, organized by the Chambers of Commerce and Industry of Mongolia and S.Korea.

Ms Park said: “Republic of Korea is a major manufacturer of latest technologies, whereas Mongolia leads the world with its natural resources”. Therefore, the two countries have broad capacity to counter-complement each other’s economy and widen the cooperation, she emphasized. President of the Chamber of Commerce and Industry of Mongolia B.Lkhagvajav expressed his confidence in the forum in its role of upgrading the bilateral business ties, and highlighted that Mongolian businessmen are now required to pursue the international standards while running their activities.

The attendance of S.Korean President Ms Park Geun-hye in person lifted up the significance and prestige of this business forum. The representatives of two sides gave seven presentations, and signed cooperation MoUs between companies. 

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Netflix price rises prompt subscribers to turn off www.bbc.com

Netflix shares fell sharply after the video streaming firm added fewer subscribers than expected ahead of US prices rises.
The company added 1.68 million users in the three months to June - well below its forecasts of 2.5 million.
Subscriber cancellations rose "slightly and unexpectedly" ahead of higher charges for existing users.
The numbers sent Netflix shares down 13% to $85.90 in after-hours trading in New York.
If that loss extends when Wall Street opens on Tuesday, the stock will have lost about a quarter of its value this year.
Netflix shares are often subject to big swings as investors bet on its drive to redefine global television viewing habits.
Wedbush Securities analyst Michael Pachter said: "The shares are down because their domestic subscriber growth slowed to a crawl ... and domestic profits fuel their international losses."
Netflix admitted that growth had slowed both in the US and international markets: "We are growing, but not as fast as we would like or have been."
Analysts estimate that about 20 million subscribers may be forced to pay between $1 and $2 more a month by the end of this year.Netflix said the increases were one reason why the company will add just 300,000 US subscribers in the three months to September - far fewer than the 880,000 added in the same period last year.
Revenue for the quarter rose 28% to $2.1bn, driven partly by Netflix's higher prices.
The streaming service, best known for shows such as Orange is the New Black, House of Cards and the Unbreakable Kimmy Schmidt, is now available in almost every country. However, it is facing competition from rival services such as Amazon Prime and Hulu.
Netflix also faces the challenge of localising or adapting its offerings to different countries and cultures.
It remains shut out of China due to what it called a "more challenging" regulatory environment.
The mainland does not yet permit streaming services from Disney or Apple either.
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Softbank shares slide 10% after ARM takeover www.bbc.com

Shares in Japan's Softbank have fallen 10% after being hit with a glut of sell orders following its purchase of ARM Holdings.

The £24bn ($32bn) deal for the UK chip designer is Softbank's biggest acquisition.

Investors could not react to the takeover on Monday as the Tokyo stock market was closed for a holiday.

Both the benchmark Nikkei 225 and broader Topix opened 0.7% higher after the long weekend.

Shares of Japanese games developer Nintendo jumped 10% on the continued success of its new augmented reality game Pokemon Go, which has proved to be a big hit globally.

Nintendo now has a bigger market capitalisation than Sony and luxury fashion house Hermes following its gains over the last week, according to Bloomberg data.

Meanwhile, the ASX 200 in Sydney was flat ahead of the release of minutes from the Reserve Bank of Australia's June meeting.

South Korea's Kospi is trading 0.3% lower in Seoul.

Hong Kong stocks opened 0.3% lower on profit-taking while the Shanghai Composite Index fell 0.1%.

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G20 to discuss Brexit fallout www3.nhk.or.jp

Finance ministers and central bank chiefs from the Group of 20 economies will discuss ways to minimize the fallout from Britain's decision to leave the European Union.
 
The officials will hold their first meeting since the Brexit vote in the Chinese city of Chengdu on Saturday and Sunday.
 
The agenda is expected to include trends in financial markets, a US interest rate hike, and global risks such as the slowdown in China and other emerging economies.
 
The Brexit vote has sparked turmoil and uncertainty in markets. The Japanese yen surged against the dollar to its highest level in more than two and a half years as investors seeking safe haven bought the currency.
 
The International Monetary Fund has cut its growth forecast for the 19-member eurozone for the next year by 0.2 percentage points to 1.4 percent.
 
Japanese Finance Minister Taro Aso said last week that countries should do what they can to minimize the impact of the Brexit vote. But he said too many factors remain unclear. He said he first wants to listen to EU and British officials.
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